The trustees present their annual report and financial statements for the year ended 31 March 2026.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)".
Aims and Objectives
The objects of the company are to pursue any charitable purpose for the benefit of the inhabitants of West Cheltenham (includes but is not limited to the wards of Hesters Way, Springbank, St Marks and St Peters) in the Boroughs of Cheltenham and Tewkesbury without distinction on the grounds of gender, race, or religious or political or other opinion, and in particular the relief of poverty, the advancement of education and training, the preservation and enhancement of the environment, the preservation and protection of physical and mental health, and the provision of leisure and community facilities in the interests of social welfare.
The trustees kept in mind the Charity Commission’s guidance on public benefit whilst planning the charity’s activities for the year. These activities are described in the Achievement and Performance sections below.
Vision Statement
Our vision is for West Cheltenham to be a flourishing community with opportunities for all.
Mission Statement
Working with local people, groups and organisations to connect and empower them to develop healthy, happy and sustainable communities.
ACHIEVEMENT AND PERFORMANCE
The Hesters Way Partnership (HWP) Board has focused its attention on addressing the strategic goals identified in the three-year plan developed in 2024 and revised annually.
The strategy set out these priorities.
To develop the sustainability of the organisation, including a secure financial position
To improve HWP governance and related systems and processes
To focus on using a community development approach to increase connection with residents, groups and organisations
To influence the design and development of the Golden Valley Development and its integration with communities in West Cheltenham
The financial footing of the organisation has been key to furthering the community goals and the improvements in facilities that have taken place during the year.
We have improved monitoring and evaluation of the Hesters Way and Springbank Community Resource Centres, promoting efficiency and maximising community use. We have signed up with Peninsula who offer HR advice and office systems.
Our dedicated facilities manager has addressed issues in both premises, and we have made some necessary investment at the Community Centres.
Investment at the Community Centres
Having completed the foyer space at Hesters Way in August 2024 we continued with improvements to the community spaces on the first floor in partnership with Construction School at Gloucestershire College. The café area has also seen investment and reopened in early 2025 with the recruitment of a new café manager.
Since our accessibility reviews of both premises, we have made a successful application to the Barnwood Trust to address the most pressing issues. The improvements will include hearing loops at both premises, a new lift and Changing Places toilet at Hesters Way, two community garden spaces at Springbank with better accessibility, raised bed planting and a sensory element.
Maintenance
The contract with Greener Gardener has incorporated a community gardening project at which local volunteers have helped with maintenance tasks across the premises including upkeep of our planters and herb garden.
Our in-house team responds to all requests quickly and efficiently.
Utilities
At Hesters Way we will continue to supply discounted electricity from solar panels installed in 2022 and the energy generated from the original solar panels installed in 2010 is provided free.
We continue to make improvements and have a programme of works for 2026-27 awaiting implementation including repainting meeting spaces and improvements to furniture.
Charitable activities
As part of our strategic plans, we have continued our community development initiative focused on Hesters Way Community Centre. The Hub at Hesters Way has flourished with new community activities taking place in a fresh and welcoming space. The Partnership has employed funds from the NHS and GCC Thriving Communities fund to kick start the programme. We have employed two part time community development workers to run activities based on local need including offering access to support, advice and guidance. We held a summer event in July 2026 showcasing the new activities.
To support the programme, The Ash Tree Community Café, located adjacent to The Hub has slowly built a regular clientele of activity attendees, lcal people and businesses. The manager Iain offers value and quality meals, sandwiches, snacks and cakes to community members, tenants and hall hirers. The café is working closely with the community development and pantry staff and partners to ensure good local take-up and volunteering opportunities.
We have continued our Dreamscheme project which engages primary age young people promoting increased self-esteem, motivation, team working and good behaviour. Our search for support has been successful, and the National Benevolent Charity has funded two further years of staff costs for this well-loved scheme.
The Multi Use Games Area in Coronation Square (MUGA) installed in June 2018 continues to provide a much-needed sports resource to the area and offers youth organisations opportunities to engage with young people. We have run free Easter and Summer drop ins with coaching sessions for young people run in partnership with The Cheltenham Town Football Club funded internally.
Our Youth club which runs in partnership with The Springbank Community Group is now offering two sessions for 8-11s and 11 -14 year-olds in response to requests from the young people which offered creative and engagement activities for the youth community. Further funding has been provided for the project by Gloucestershire County Councillors but also relies on in-house support.
The West Cheltenham Community Pantry at Hesters Way CRC has supported over 700 members since its inception in 2021. The service offers local people in need, access to fresh fruit and vegetables plus a variety of ambient foods and household items. Our community development staff also signpost pantry members to local support services. This year the project was awarded grant funds sums for food supplies from Gloucestershire County Council and Cheltenham Borough Council (CBC), supplemented by our own in-house contributions. Local benefactors have also generously supported the pantry with financial and in-kind contributions.
We have supported the local community around Springfield Park which has been awarded Green Flag status for a twelfth consecutive year.
The continuing neighbourhood planning project is reaching completion with the development of the Hesters Way Neighbourhood Plan which can be viewed on the www.hesterswayforum.co.uk . A big thanks goes to the Forum Steering Group who have worked tirelessly on this fantastic community project. The group have begun negotiations with the Golden Valley developers to ensure the benefits of this exciting scheme can be shared across the west of the town. Thanks to grant support from Enovert, CBC CIL and the CBC Parks Department the Forum have enabled the installation of new park equipment at Fiddlers Green Park furthering the parks redevelopment plan.
We have now completed 57 issues of the local magazine "Viewpoint" highlighting the work of partners and promoting positive views of Hesters Way.
This combined with the Partnership's renamed social media pages including website: www.westcheltenham.org, Instagram (@hwpartnership) and facebook page "West Cheltenham Partnership I Facebook", keep local people, organisations and agencies informed of local developments, meetings and issues of local interest.
Thanks to our directors, staff, volunteers and our community without whom none of this would be possible.
Financial Review
Reserves Policy
Unrestricted funds are declared at £487,620, a large increase in comparison with 2025, reflecting further improvements in performance and the stabilisation of business finances in the year. The new management responsibilities and associated business turnover require a reassessment of the charity’s reserve sums. The trustees propose to maintain the charity’s reserves at a level of at least £150,000 which is at least equivalent to twelve months’ predicted core expenditure for the year 2026-27.
The Hesters Way and Springbank CRCs now have associated sinking fund accounts. The Hesters Way sinking fund account stands at £100,000 and the Springbank sinking fund account stands at £102,457 at the year end. These accounts are intended to provide funds to cover the cost of replacement of the following items at the end of their life; roof (£40k / CRC) , boilers (£50k), wiring (£20k), plumbing (£20k), kitchens (£30k), flooring (£50k), external drainage (£20k), walls and fences (£20k), car park (£50k - HWCRC only) and CCTV (£15k). It is proposed that they grow annually such that once replacement is required, sums are available to that end. Each building will need a minimum of £300k available at the end of a 30-year period plus the annual inflation rate which equates to £10k / CRC / year.
HWP has a low-risk approach to additional reserves due to concerns regarding; potential reductions in funding in current climate; the effect of the loss of any of the five principal tenants and provision for building repairs to cover uninsurable events - e.g. essential improvements and repairs at the two Community Resource Centres.
Investment Policy and Objectives
The Directors continue to pursue a low-risk investment policy for savings in view of the economic uncertainty in the banking industry in recent years and continue to monitor investments to ensure an effective return combined with flexible access to funds.
2026 – 27 Figures
Income £505,024 (including £33,491 in grant revenues)
Expenditure £538,641 (including £91,959 depreciation)
Deficit £33,617
Net depreciation £91,959
Trading surplus £58,342
The grant income supported the West Cheltenham Community Pantry, Dreamscheme, Community Hub at Hesters Way, Springbank Creative Space, Community Development and Youth Work.
Future Opportunities
The Partnership plans to increase its community development efforts in the coming years and has committed funds to employ officers to that effect. Community activities started in 2025, as part of the Hub project, will continue to grow and attendees will be given access to support, advice and guidance. We will be conducting surveys to establish what new services to offer over the following year. The Hub will continue to work closely with the Ash Tree Café and pantry staff and partners to ensure local take up.
Since assessing our community centers for their accessibility last year, we will have begun to address many of the issues raised. We will be redesigning some of our community spaces and facilities and have made a successful funding application to The Barnwood Trust to improve access to the centres for the whole community. Newly improved spaces will include two gardens at Springbank, a Changing Places toilet and new lift at Hesters Way plus hearing loops and parking improvements.
These new activities will offer volunteering opportunities for the community and a new volunteering scheme lies at the heart of the partnership’s strategy in the years to come.
Further engagement with the community across the patch is planned with the support of the new community development staff. A particular focus will also be to ensure that the neighbourhood plans for the area successfully progress to referendum and that it reflects the views and aspirations of the local community. The project is progressing well as can be seen via the website http://hesterswayforum.co.uk/documents.
The Board has committed to support the development of the West Cheltenham Pantry Project. The scheme has proved to be increasingly popular, helping to address food poverty whilst also offering advice and guidance to members. Further work will take place to support pantry member, identifying and responding to their needs.
We will continue to promote the activities of partners via issues of the local magazine "Viewpoint" and the Partnership's website: www.westcheltenham.org.uk Instagram and Facebook.
Further efforts will be made to improve standards of governance and to better utilise the skills of the current Board of Directors and to grow the board in line with the skills audit conducted in 2026.
Governing document
The charity is controlled by its Memorandum and Articles of Association dated 17 December 1998, as amended by written resolutions dated 11 May 2004, 15 November 2010, 21 November 2011 and July 14th 2024.
The company is constituted as a company limited by guarantee and therefore has no share capital. In the event of the company being wound up, and the liabilities and winding up expense being in excess of assets, the liability of each member is limited to £1.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
The company is managed by a Board of directors (trustees), which includes representatives from all its major stakeholders. The Board meets at least four times a year. It comprises a minimum of five and a maximum of twenty-two directors, of which no more than 19% may be Local Authority persons, as defined in the company's Articles of Association.
The company is a registered charity, having registered with the Charity Commission on 20 December 2000.
Risk management
The trustees regularly review the major risks which the company faces and have developed a risk register which identifies any key areas of concern. The register assesses the risks in relation to key personnel, governance, finance, compliance, safeguarding, operations and reputation and has set related mitigating actions to address any potential concerns.
The board believe that maintaining unrestricted reserves at current levels, proper forecasting of incomes and expenditures combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of conditions becoming adverse.
The trustees have also examined other operational and business risks faced by the company and confirm that systems have been established to mitigate any significant risks.
In accordance with the company's articles, a resolution proposing that BK Plus Audit Limited be reappointed as auditor of the company will be put at a General Meeting.
The trustees' report was approved by the Board of Trustees.
The trustees, who are also the directors of Hesters Way Partnership Ltd. for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Opinion
We have audited the financial statements of Hesters Way Partnership Ltd. (the ‘charity’) for the year ended 31 March 2026 which comprise the statement of financial activities, the statement of financial position, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
the information given in the trustees' report for the financial year for which the financial statements are prepared, which includes the directors' report prepared for the purposes of company law, is consistent with the financial statements; and
the directors' report included within the trustees' report has been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the trustees' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of trustees' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the trustees' report and from the requirement to prepare a strategic report.
As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:
enquiries of management including a pre audit meeting;
obtaining and reviewing supporting documentation of policies concerning the laws and regulations applicable to the business;
understanding how the company complies with its regulatory framework by making enquiries of management;
considering the culture inherent in the company and whether this represents a culture of honesty and
ethical behaviour with a strong emphasis of detection and prevention of fraud.
We assessed the susceptibility of the company's financial statements to material misstatement and considered how fraud might occur. The audit procedures performed included, but were not limited to:
challenging management assumptions and estimates;
identifying and testing unusual journal entries;
assessing how the relevant laws and regulations have been complied with and noting any instances of non compliance;
reviewing the financial statements for compliance with relevant Accounting Standards and accounting
legislation applicable to a small company;
considering how those charged with governance have addressed the possibility of an override of
essential controls or other influence over the financial reporting processes.
In addition, we also considered other non financial laws relevant to the company. These do not necessarily have a direct influence on the financial statements but might affect the company's ability to operate.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
The notes on pages 14 to 25 form part of these financial statements.
The notes on pages 14 to 25 form part of these financial statements.
The notes on pages 14 to 25 form part of these financial statements.
Hesters Way Partnership Ltd. is a private company limited by guarantee incorporated in England and Wales. The registered office is Hesters Way Community Resource, Centre Cassin Drive, Cheltenham, Gloucestershire, GL51 7SU, United Kingdom.
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Fund accounting
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
All income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Rental income and income from renewable energies are recognised in the period to which they relate.
Grants with time conditions are recognised in the period to which they relate; other unconditional income grants are recognised on confirmation of award. Capital grants are carried forward and released to income over the period of depreciation of the assets to which they relate.
Donations and other income are recognised on receipt.
Advertising income is recognised at the point of invoicing.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Assets costing less than £1,000 individually are not capitalised unless they form part of an overall project.
The charity is exempt from corporation tax on its charitable activities. It is not, however, exempt from VAT, and where there is irrecoverable VAT, it is included as an expense item in the financial statements.
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The average monthly number of employees during the year was:
The remuneration of key management personnel was as follows:
Deferred income is included in the financial statements as follows:
The deferred income represents a capital grant from Severn Wye Energy Agency towards the cost of solar panels at HWCRC, a capital grant from Cheltenham Borough Council towards the cost of LED lights and a capital grant from the Police and Crime Commissioner towards CCTV equipment, all of which are being released against the charge for depreciation on those assets.
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
Details of designated funds
Sinking Fund - HWRC
Repair and maintenance fund for ongoing upkeep of Hesters Way Community Resource Centre.
Sinking Fund - SCRC
Repair and maintenance fund for ongoing upkeep of Springbank Community Resource Centre.
Details of restricted funds
SCRC and HWRC
These funds represent the written down values of freehold land and buildings (Hesters Way Resource Centre and Springbank Community Resource Centre), against which future depreciation charges will be made.
Multi-use games Area
Funds raised to install a Multi-use Games Area on land in front of the Oasis Centre on Princess Elizabeth Way.
Renewables - PV Solar Modules
Solar panels to enable the creation of electricity.
CCTV
Money raised for the re-establishment of the CCTV camera network in Springfield park, including upgraded cameras and monitoring equipment at Springfield Community Centre.
Pantry
A food membership project which provides reduced price food and household items to local people in need and offers advice.
Lighting
Funding towards upgrading the lighting to LED for the premises.
POPPS
A holding account for a local community group.
Creative Youth Space
A new space for youth and community activities made available from redesign of the lobby at Springbank Community Resource Centre.
Community Health and Development
Funds to develop a community hub space at Hesters Way Community Resource Centre to address community needs particularly for young people, the elderly, the infirm and those with mental health issues.
Youth Projects
Funds used for various youth projects or as matched funding for future youth project bids.
Dreamscheme
The Dreamscheme project works with the help of the local schools, children and their families to offer different experiences to engage children's attention and interest to effect positive change. The project focuses on young people aged 7-10 from three local primary schools in Hester's Way and Springbank who are at risk of exclusion from school. Trough the scheme we help to improve the children's behaviour, their goals and to reduce exclusions and widen their experiences by concentrating on their strengths, encouraging a pride in their community and rewarding positive action.
Transfers between funds
Transfers are made between restricted and unrestricted funds at the end of every accounting period in cases where:
i) the activity of the restricted fund has come to an end and there is an unspent balance that is not repayable to the funder(s), when the surplus is transferred to unrestricted funds; or
ii) the restricted fund has come to an end and there is no prospect of a surplus in a later period, when the deficit is eliminated by transfer from unrestricted funds.
There were no disclosable related party transactions during the year (2025 - none).
The charity had no material debt during the year.