for the Period Ended 31 August 2024
| Directors report | |
| Profit and loss | |
| Balance sheet | |
| Additional notes | |
| Balance sheet notes |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 31 August 2024
Principal activities of the company
Additional information
Structure, Governance and Management of High Trees Community Development Trust Governing Document Recruitment and appointment of Management Committee Risk Management Organisational Structure and Management Reserves Policy Financial Review High Trees Community Development Trust is a registered company limited by guarantee and a registered charity. It has a memorandum and articles document providing the framework for the focus of work. The company Directors are also charity trustees for the purpose of charity law and under the company’s articles are known as members of the Management Committee. New trustees are recruited by advertising of vacant positions through local networks in Lambeth and by targeting individuals involved in the Trusts activities who complement the current skills set on the Board, who then fill out an application form and the relevant declarations of interest. Any new trustee appointment is subject to a vote by the board. High Trees undertakes a bi-annual risk assessment which includes risk associated with buildings, personnel and finances. This is recorded as a matrix which also grades the risk and notes how this risk will be managed. A bi-annual review of the risk assessment is made every other year by the Co-CEOs and presented to the trustees for analysis and agreement. Where appropriate, systems or procedures have been established to mitigate against risks that High Trees faces. Internal control risks are minimised by the implementation of procedures for authorisation of transactions and projects. We also undertake risk assessment and contingency planning for funders in line with their good practice requirements and with partner organisations before starting projects with them. High Trees has a Trustee Board of 6 members at April 2025 who meet bi-monthly as a board, and quarterly as subcommittees, and are responsible for the strategic direction and policy of the charity. High Trees Reserves Policy is to move towards holding reserves of 9 months running costs of the charity. This amount is recalculated each financial year, and as of April 2025 is £1,729,926 (representing Total Costs of £192,214 per month). This money is set aside to guarantee the organisation’s ongoing stability, to ensure that any changes in the funding climate are able to be managed, and to ensure that should funding for certain programmes or projects reach an end High Trees are able to continue to offer provision where appropriate while further funding is sought, only discontinuing much needed services if this proves impossible. We hope to reach this increased milestone in the next 3 financial years. High Trees currently hold an operating reserve of 5.4 months operating costs, and while not at the optimum level we are confident that this provides an adequate level of protection while we move towards our goal of 9 months reserves. The Co-CEO’s, Anna Coffey and Grace English, co-ordinate the day-to-day work of High Trees on behalf of the trustees. The Co-CEO’s report to the board of trustees. The Co-CEO’s take day-to-day financial and personnel decisions. Recommendations are presented to the board at the bi-monthly board meetings at the end of a CEO report. Decisions made by the trustees include decisions on spend of amounts of money over £50,000, on adopting the accounts, budgets and the strategic plans and policies. High Trees Reserves Policy is to move towards holding reserves of 9 months running costs of the charity. This amount is recalculated each financial year, and as of April 2025 is £1,729,926 (representing Total Costs of £192,214 per month). This money is set aside to guarantee the organisation’s ongoing stability, to ensure that any changes in the funding climate are able to be managed, and to ensure that should funding for certain programmes or projects reach an end High Trees are able to continue to offer provision where appropriate while further funding is sought, only discontinuing much needed services if this proves impossible. We hope to reach this increased milestone in the next 3 financial years. High Trees currently hold an operating reserve of 5.4 months operating costs, and while not at the optimum level we are confident that this provides an adequate level of protection while we move towards our goal of 9 months reserves. The Co-CEO’s, Anna Coffey and Grace English, co-ordinate the day-to-day work of High Trees on behalf of the trustees. The Co-CEO’s report to the board of trustees. The Co-CEO’s take day-to-day financial and personnel decisions. Recommendations are presented to the board at the bi-monthly board meetings at the end of a CEO report. Decisions made by the trustees include decisions on spend of amounts of money over £50,000, on adopting the accounts, budgets and the strategic plans and policies. High Trees have ended the year with a net surplus of £199,594 (2023 - £553,371). This does not account for the charge for depreciation in Fixed Asset reserves.The total generated as net surplus adjusted for depeciation as reported in the statement of financial activies is £131,005 (2023 - £484,782). High Trees have generated a smaller surplus this Financial Year compared to previous recent financial years, and this is expected to also be the case for the current financial year (2024 – 2025). This is due to the funding climate becoming increasingly challenging and the organisation is currently having to subsidise some of our core service areas (notably Children, Young People and Families and Community Action) to ensure that wherever possible there is no reduction in service. High Trees has an operational reserve of £1,338,717 (2023 - £1,139,123) (and a further £480,127 (2023 - £548,716) shown in these accounts representing the value of reserves in relation to the capital refurbishment work undertaken on the High Trees Hub in 2022. Of the £1,338,717, the Trustees have put aside some as designated funds - £85,000 designated to complete the capital refurbishment of High Trees Hub (in the form of replacing the roof), £60,000 designated for the rebuild of the Adventure Playground at Tulse Hill Adventure Playground (while the intention is that as much as possible of this will be raised via grant funding, we are also ringfencing £60,000 as a contingency should the works run in to unexpected difficulty and generate extra expense) and £150,000 held in reserve for the maintenance of key partnerships. This leaves an available operating reserve of £1,043,717. The organisation continues to monitor the situation very closely, and while we continue to be in a financially healthy position, our ability to core fund currently underfunded service areas will always need to be balanced with ensuring the overall financial health and stability of the organisation. Reserves include a “restricted Capex Funds” as shown above which represents the value of the reserves related to the funds received and were spent specifically for capital refurbishment, specifically High Trees Hub 2022. This reserves is the recorded ongoing value of the capital refurbishment work and does not represent funds avialable in reserves as a cash amount available for the charity to spend. To ensure ongoing financial stability and good practice, £145,000 included in the unrestricted funds held has been designated by the Trustees to meet the cost of capital works of High Trees Community Buildings and £150,000 has been designated by the Trustees for the stability and maintenance of key partnerships, full details are given above. This gives unrestricted funds of £957,575 available, after the deduction of these designated amounts and the value of the restricted Capex Funds. Mission Statement Our Values are: Objectives and Activities Services throughout the year The organisation continues to monitor the situation very closely, and while we continue to be in a financially healthy position, our ability to core fund currently underfunded service areas will always need to be balanced with ensuring the overall financial health and stability of the organisation. Reserves include a “restricted Capex Funds” as shown above which represents the value of the reserves related to the funds received and were spent specifically for capital refurbishment, specifically High Trees Hub 2022. This reserves is the recorded ongoing value of the capital refurbishment work and does not represent funds avialable in reserves as a cash amount available for the charity to spend. To ensure ongoing financial stability and good practice, £145,000 included in the unrestricted funds held has been designated by the Trustees to meet the cost of capital works of High Trees Community Buildings and £150,000 has been designated by the Trustees for the stability and maintenance of key partnerships, full details are given above. This gives unrestricted funds of £957,575 available, after the deduction of these designated amounts and the value of the restricted Capex Funds. Connecting with people and communities to strengthen skills and build stronger voices. Collaborative Inclusive Responsive Supportive Rooted Services throughout the year High Trees produces an Impact Report each year which gives the full details of our work throughout the year. This can be found at www.high-trees.org/impact Trustees' responsibilities in relation to the financial statements Statement as to disclosure to our auditors Treasurer 22 May 2025 The trustees (who are also the directors for the purposes of company law) are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102, 'The Financial Reporting Standard in the UK and the Republic of Ireland'. Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them consistently; make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any material departure disclosed and explained in the financial statements; and prepared the financial statements on the going concern basis unless it is inappropriate to assume that the company will continue on that basis. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at anytime the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. AGP Consulting were appointed as the charity’s auditors at the Trustee Meeting in January 2025. In so far as the trustees are aware at the time of approving our trustees’ annual report: there is no relevant information, being information needed by the auditor in connection with preparing their report, of which the Trust’s auditor is unaware, and the trustees, having made enquiries of fellow directors and the Trust’s auditor that they ought to have individually taken, have each taken all steps that he/she is obliged to take as a director in order to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
Directors
The directors shown below have held office during the whole of the period from
1 September 2023
to
31 August 2024
The directors shown below have held office during the period of
27 September 2023
to
31 August 2024
The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006
This report was approved by the board of directors on
And signed on behalf of the board by:
Name:
Status: Director
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The notes form part of these financial statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 August 2024
Basis of measurement and preparation
Tangible fixed assets depreciation policy
Other accounting policies
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