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← Highbury Vale-Blackstock Trust

2025-03-31-accounts

Highbury Vale Blackstock Trust Elizabeth House Community Centre

Annual Report and Financial Statements

For the year ended 31 March 2025

Company No. 2849848 Charity No. 1029704

Elizabeth House Community Centre, 2 Hurlock Street, London N5 1ED

Trustees' Report

For the Year Ended 31 March 2025

Highbury Vale Blackstock Trust

The trustees present their report and accounts of the charity for the year ended 31 March 2025. They have complied with the duty to have due regard to guidance issued by the Charity Commission.

LEGAL AND ADMINISTRATIVE INFORMATION

LEGAL AND ADMINISTRATIVE INFORMATION
Charity name: Highbury Vale Blackstock Trust (also known as
"Elizabeth House")
Charity registration number: 1029704
Company registration number 2849848
Registered office and operations address Elizabeth House, 2 Hurlock Street, London N5 1ED
Trustees (Directors)
Chair Garry Luxford
Treasurer Garry Luxford (until December 2024)
Lis Rideal (appointed on 8 May 2024, Treasurer since 2 Nov 2024)
Lucilia Falsarella Pereira (Secretary)
Valerie Bossman-Quarshie
Jonathan Gore
Andrew Baxter (appointed on 8 May 2024)
Ned Glasier (appointed on 8 May 2024)
Roshni Shah (appointed on 10 March 2025)
Tsigereda Tekletsadik (appointed on 10 March 2025)
Jeremy Corbyn, MP (retired on 2 Dec 2024, appointed as Patron)
Carol Glover (retired on 2 December 2024)
Lee-Anne Richardson-Pring (retired on 2 December 2024)
Chief Executive Nathalie Renaud
Independent Examiner Harry Nicolaou
Of Harry Nicolaou & Co Limited
Chartered Accountants
21 Brendon Way, Enfield, EN1 2LF
Bankers CAF Bank Limited
PO Box 289, West Malling, Kent ME19 4TA

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Highbury Vale Blackstock Trust

Trustees' Report

For the Year Ended 31 March 2025

MESSAGE FROM THE CHAIR AND CHIEF EXECUTIVE

As we reflect on the past year at Elizabeth House, we do so with both pride and urgency. Our charity continues to serve a growing and diverse community of residents through a wide-ranging programme of services, activities, and support. Every day, we are inspired and driven by the strength, creativity, and resilience of our community members.

We cannot ignore the mounting challenges that shape our work. The cost of living crisis, housing insecurity, and the increasingly hostile environment for people from migrant backgrounds are not abstract issues; they are daily realities for many in our community. These pressures are compounded by rising physical and mental health needs, growing loneliness and isolation, and the increasing difficulty older residents face in living independently with dignity.

At the same time, securing long-term, core, and restricted funding is a growing struggle. Despite such challenges, our commitment to being a welcoming place of dignity, and opportunity has never been stronger. We want to offer more: more spaces, more services, more chances for connection and lasting change. But to do so, we must find new ways of working. We believe that real change must be driven by our community members themselves, and that community centres like Elizabeth House must become enablers of local organisation and action, not just providers of services.

We want to be a champion for our community, a dynamic space that is deeply rooted, relevant, and responsive. A place that contributes to a happier and healthier neighbourhood, not one that is seen as a last resort. We know the social value we bring is immense. Our impact is visible in every conversation, every shared meal, every Youth Club member who returns week after week, every child who says we are a second home for them.

We would like to extend our deepest thanks to our community members, volunteers, team, and trustees; for trusting us, for stepping up and taking responsibility, for boosting our capacity, and for your unwavering commitment to working alongside local residents to build a stronger, more connected community. We also want to express our gratitude to all the individual donors, Trusts, Foundations and Islington Council for their essential funding and support.

Garry Luxford, Chair

Nathalie Renaud, Chief Executive

Annual community party October 2024

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Highbury Vale Blackstock Trust

Trustees' Report

For the Year Ended 31 March 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The organisation is a charitable company limited by guarantee, incorporated on 2 September 1993 and registered as a charity on 6 December 1993. The company was established under a Memorandum of Association which defined the objects and powers of the charitable company. It is governed under its Articles of Association. In the event of the company being wound up, members are required to contribute an amount not exceeding £1.

Recruitment and appointment of trustees

The directors of the company are also charity trustees for the purposes of charity law. The trustees have developed a policy for the recruitment of trustees that ensures their collective experience, and skills are best able to meet the needs of the charity. New Trustees are appointed by Board members.

Potential candidates for the Board of Trustees receive a briefing pack about the roles and responsibilities of a Trustee and have the opportunity to attend a Board meeting and visit Elizabeth House to understand its work before offering themselves for appointment. Trustees are invited to meet senior staff members and visit as many activities or projects as they are able to once they are elected.

Organisational Structure and Governance

The Board of Trustees is responsible for overall strategy and management of the organisation. The day-to-day management of the charity, including staff and financial matters, is delegated to the Chief Executive Officer, who is supported by a Deputy Centre Manager, Community Leader, Administrator, Operations Officer, Community Coordinator and Senior Youth Worker. Other employed staff and volunteers fulfil other roles in the organisation. The Chief Executive Officer reports directly to the Board of Trustees, who are also members of the organisation.

The Board of Trustees meets on a quarterly basis at Elizabeth House and online. This year, Trustees met four times, including the AGM. Meetings were well attended, and trustees have continued to take an active role in supporting the staff team. Four new Trustees were appointed in 2024-25 and we will continue to recruit actively to increase representation and ensure succession of Trustees who are coming to the end of their term.

Risk Assessment

The Trustees periodically undertake a review of the major risks to which the charity is exposed. Each year when considering the operating budget and strategic plan, the Trustees review the associated organisational and operational risks. The senior management team also review operational systems and procedures and service area risk assessments to manage risks that are in place. We review and update our risk assessments, business continuity and emergency contingency plans when needed.

Elizabeth House, 2 Hurlock Street, London N5

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Highbury Vale Blackstock Trust

Trustees' Report

For the Year Ended 31 March 2025

BACKGROUND AND AIMS OF THE ORGANISATION

Highbury Vale Blackstock Trust was established in its present form in 1993 to operate Elizabeth House Community Centre.

Our Vision

The Charity‟s vision is for everyone in the local community around Elizabeth House Community Centre to have a better quality of life through access to and participation in key activities, whilst building cohesion, and a stronger and more resilient local community.

Our mission

Highbury Vale Blackstock Trust is a charity dedicated to:

Our values

Inclusive – community members come first in everything we do.

Collaborative – we work in partnership with like-minded organisations who share the same goals to serve the local community.

Respect – all people making up our diverse community and team have unique qualities, abilities, needs and experience.

Flexible – we aspire to work flexibly to adapt to changing needs within the community.

Through our community-based approach - acting as a community „anchor‟ – we build trust and bring people together so that we can connect residents to practical support and opportunities.

From 2025, Highbury Vale Blackstock Trust will be guided by a new 3-year strategic plan ensuring our vision, mission and objectives are relevant, but also ambitious and realistic. As a Charity and community-based organisation, we want to work with local people to provide support, to create connections and to make change happen. Our new strategy will look at both external and internal improvements as well as very tangible targets to make an impact in our community.

“I have been to a lot of community centres in my time and nothing compares to this one. Always being taken care of. I‟d like to discuss how I can become a Friend of Elizabeth House to support you.” Regular member

“We are so lucky to have Elizabeth House. It's a wonderful place and amazing people work there. Some community centres you don't know how they can call themselves that. But Elizabeth House isn't like that, there's always people who really care and there's always lots to do.” Women‟s Goup member

Thank you, Elizabeth House

Oh, I sometimes feel dismayed When I hear the latest news. Or maybe for no reason, I seem to have the blues. Well, there‟s a place where I can go. There are people that I know, Who welcome me with smiles, and they are kind. I can do some gentle yoga, Ease my body, calm my mind. Have a laugh, sing a song, In a place Where I belong. Pat O’Driscoll

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Highbury Vale Blackstock Trust

Trustees' Report

For the Year Ended 31 March 2025

COMMUNITY ACTIVITIES - FACTS AND IMPACT

At Elizabeth House, our teams work hard every year to ensure the centre is providing an inclusive and comprehensive programme of services for as many local residents as possible to access.

The Food Hub

Our food provision launched in March 2020 continues to respond to critical needs in our community. We support community members from our local area, with cooked meals and essential food and household items through a weekly pop-up Food Hub stacked with purchased and surplus food (distributed by The Felix Project and City Harvest London). In 2024-25, we worked hard to alleviate the persistent cost of living crisis experienced by many Londoners:

The Food Hub has been funded through small grants from Trusts, regular donations from generous local residents and unrestricted funds. This is an essential offer for community members. Our inclusive food provision is an excellent opportunity for our team and volunteers to identify residents with other needs and create connections at Elizabeth House and with other services residents may not access. The impact of the Food Hub is much greater than any of the data can express.

"I come here for the energy! I “Elizabeth House helps me to do my can volunteer, learn English and weekly shopping, and I really like get a good lunch.” Food Hub coming here. It's amazing what we member and volunteer do here, helping others who can't afford to shop and all the staff and people who come here are very nice people.” Volunteer and Food “I come also for the vibes, but the food is Hub member always so fresh, it lasts me at least a week.” Food Hub member "This food place is so real, it‟s a lifeline for so "I don't just come for the food, I many local people.” Food Hub member come to see all your smiling faces.” Food Hub member

Community Services

Elizabeth House offers a rich programme of activities and support services for the local community, including an over 50‟s Lunch Club, access to nature activities, a Women‟s Group, women-only sports sessions, referrals for children and adult mental health support, and a Winter Wellness programme to share health and support information with residents aged 65+.

Ann (her name was changed) is a bright-eyed woman in her mid-70‟s, who was quiet when she first began coming to Women‟s Group and apologised for not contributing as heartily as the lively longstanding cohort. But she was not put off and her thoughtful contributions soon commanded the attention of the group.

Ann now also attends the Blue House Club for for Chair Yoga and lunch on Wednesdays, and notably gave a heartfelt testimonial for the Home Library Service when they visited. Despite being softly spoken in conversation, she has come out of her shell in a dramatic fashion – performing a poem about ageism at our Age Without Limits event, warning us all that her poem would be a little controversial. But it was in fact a very light-hearted, playful and entertaining piece – if passionately provocative. Ann also composed a song entitled Elizabeth House to the tune of Elton John‟s Candle in the Wind, giving us the tribute she feels we deserve! She feels that while she thinks „not looking your age‟ is meant as a compliment, it‟s a pity that ageing is seen as something to be ashamed of, and hopes to fight that lazy perspective by continuing to speak out against it. We greatly value her tenacious voice in our community and generous participation.

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Highbury Vale Blackstock Trust

Trustees' Report

For the Year Ended 31 March 2025

Community Services (continued)

The team at Elizabeth House is committed and multi-disciplinary, supported by many local partners to work with as many people as possible, providing essential support, creating vital connections, improving residents‟ wellbeing and a healthier and happier community. Over the year ending March 2024, Elizabeth House has directly reached, supported and delivered:

"I'm really enjoying this and didn't think I “We are so lucky to have Elizabeth would. It is very therapeutic, and I feel less House. It's a wonderful place and stressed. I feel that my creative side is amazing people work there. Some coming out.” Women‟s Group member community centres you don't know how they can call themselves that. But Elizabeth House isn't like that, there's “It‟s always so good to get together, share problems always people who really care and and get support, and we are always learning there's always lots to do.” Regular member something new!” Blue House Club member

" Every little bit of help you can get at the moment with what's going on in this country is a bit of help. Thank you so much. Your service has helped me to know where to get help with my original concerns even if it hasn't been resolved yet." Winter Wellness resident

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----- Start of picture text -----
Nature Gardens
Highbury Quadrant estate
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Highbury Vale Blackstock Trust

Trustees' Report

For the Year Ended 31 March 2025

Children and Childcare Services

With some support from Islington Council, Elizabeth House is still a major childcare provider in the borough, both during term time and school holidays. We have a strong reputation with local families and are very proud to be able to sustain an affordable, high quality After School and holiday provisions that is inclusive and affordable.

However, following the local government‟s decision to reduce its subsidy substantially in 2023, we have had to review and increase the fees charged almost annually. Despite this, attendance has remained high and we operate at full capacity on most days – highlighting that the services we offer are needed and valued by local families and children:

“I liked the bouncy castle, arts/crafts, computers, the trip to the theatre to solve the murder mystery and mostly everything.” Child (Playscheme 2024)

“I wanted to sincerely thank the whole team for putting the effort in taking care of ** during the half term. We know it might not be easy to handle his wonder around and you could have just said no, but you didn't. For this you have all our gratitude not only for the convenience you provided but more importantly for the example you are setting in the kids with special needs world (which we are discovering). Kudos to all of you.” Parent (Playscheme 2024)

"Elizabeth house is a fabulous facility. We have sent 3 of our children since 2016 and they have all loved it. The care of the staff really stands out - they really care for the kids. We don‟t know what we would do without Elizabeth house. Thank you so much for the amazing work you are doing!” Parent

“I love Elizabeth House because everyone is so friendly!” Child (Playscheme 2025)

" Elizabeth House provides an amazing service for working parents. The professionalism of all the personnel is commendable, and the activities offered to the children, even outside of enrichment clubs, are diverse and well organised. The flexibility offered to parents in terms of attendance and booking makes Elizabeth House an even more invaluable resource for both children and parents, in particular due to the limited after-school activities offered by our child's school. I am ever so grateful for the help and support they have given us so far.” Parent

“Staff there are absolutely wonderful and the services provided are very reasonably priced. We visit there on many occasions and have used multiple services provided and truly feel that Elizabeth House is indispensable in our community.” Parent

Youth Provision

Despite huge challenges in securing funding to keep our Youth Club open over the past 10 years, the charity and its Board have always prioritised its youth provision and invested its own funds to offer a safe, supportive and fun space for young people aged 11 to 18. Some children transition naturally from our childcare provision into Youth Club members, but our success is in reaching out to local young people from least advantaged families.

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Trustees' Report

For the Year Ended 31 March 2025

Highbury Vale Blackstock Trust

Youth Provision (continued)

Our youth provision has kept its average attendance at 24 young people per session, but has grown in quality with more opportunities for outings and residential weekends for Youth Club members. Its impact shows in the following:

The Youth Club continues to be complemented by our partner Peoples Place Ccommunity Partnerships (PPCP) IT and employment programme for young people aged 16+. 21CS offers IT training leading to recognised qualifications, further training and work experience. Youth Club members, Food Hub members and other local residents can enrol for free to join in-person and online training with PPCP mentors. PPCP students also offer digital inclusion support to our older members.

OUR BUILDING

In the summer of 2024, the Charity fundraised and financed major capital works to redecorate the community centre, both internally and externally. The works were carried out over a 3-month period with minimal disruption to our programme of activities. Members of all ages were delighted to return to a colourful and fresh-looking centre in September 2024.

Looking ahead to 2025–26, the Charity will use its building fund to upgrade the centre‟s toilet facilities, an essential part of our original refurbishment plan. These improvements were postponed due to financial and logistical constraints. The works include new flooring, cubicles, and sinks, all designed to enhance comfort, accessibility, and the overall experience for everyone who visits Elizabeth House.

==> picture [80 x 17] intentionally omitted <==

----- Start of picture text -----
Building renovations
in summer 2024
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Elizabeth House continues to host other community groups running training sessions or classes, as well community groups looking for a space for regular meetings. There is a weekly church group on Sundays using our main hall and many residents from Islington and neighbouring boroughs hire our spaces for their private events. We also support local tenants and residents associations and other community groups by providing them space free of charge when needed.

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Highbury Vale Blackstock Trust

Trustees' Report

For the Year Ended 31 March 2025

OVERVIEW OF OUR COMMUNITY PROGRAMME

Our impact is evidenced by the large and growing number of people we reach. Our footfall during the year was slightly higher at 45,000 and over 5,500 individual people accessing activities and services, receiving support, enjoying our community meals and/or participating in our events.

Elizabeth House is also a space for groups to run classes, share skills and provide wellbeing activities. As a community organisation, we welcome grassroot organisations, newly launched or well-established groups, as long as they offer something for the local community that help connect people, improve personal development or physical and mental wellbeing. We also value groups offering different activities which we can‟t deliver as an organisation. We always endeavour to connect our services with the activities of others and provide support to promote or launch a new.

Aerobics class - a very dynamic and friendly class open to all every Monday.

Access to Nature – activities every Saturday for residents in Nature Gardens on Highbury Quadrant and for children during term times and holidays.

After School Club - delivered by Elizabeth House, we offer an affordable out of school childcare service for working parents for primary school children.

Baby massage group - a Bright Start-led weekly group every Tuesday morning.

Baby in baby out – baby massage and relaxation group every Tuesday afternoon.

Ballet classes - a range of weekly classes on Monday and Thursday for pre-school aged children.

Blue House Club – over 50‟s lunch club with chair yoga classes and social activities open to all every Wednesday.

Community Choir – open to all and offered by World Harmony Orchestra every Thursday evening.

Community Yoga - a weekly wellbeing class, every Tuesday morning.

Dance improvisation – a weekly group of experienced dancers, every Friday.

Enrichment clubs for children – after school activities including cooking, coding and boxing.

Food Hub - provision of food and essential items to local residents and families every week.

Holiday Playscheme - a popular holiday provision for children aged 4 to 14, 11 weeks per year.

IT training and employability programme - run by our partner PPCP for young people to gain qualifications and secure employment in the IT sector.

Kuk Sool Won - a popular Korean martial art class for children and adults every Thursday evening.

Nafsiyat Multicultural Therapy – an outreach project to offer multilingual counselling.

NHS North London – a closed social group for regular members every Thursday.

Reading Groups - 2 weekly reading groups every Wednesday.

Self-defence and MMA - a weekly class on Thursday mornings for women only.

Sport School - multi sports sessions for children aged 2-11 years, every Saturday.

Swing Dance – a weekly energetic dance class to make you swing, every Tuesday evening.

Women only fitness and Zumba classes - delivered by qualified coaches, 3 free weekly sessions for all abilities.

World Harmony Orchestra – offers pay what you can music lessons for the community on Friday.

Youth club - open to all young people age 11 to 18 years old, held on Monday and Friday evenings.

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Highbury Vale Blackstock Trust

Trustees' Report

For the Year Ended 31 March 2025

FUTURE PLANS

Elizabeth House will be guided by a new strategy to anchor the centre even deeper into our community. We have bold and ambitious plans to improve how we work and deliver more in satellite spaces in our community. We want to take our team and our programme to residents, as well as welcome more local people at Elizabeth House.

Our strategy for 2025-2028 will focus on the following priorities:

The team at Elizabeth House has deep collective experience and a very strong knowledge of its community, issues faced by residents, and other services and agencies to signpost residents to. Despite challenges to secure core (unrestricted) funding, Highbury Vale Blackstock Trust will continue to invest in its Community Team ensuring they are the vital bridge between our programme and the local community.

We will continue to develop partnerships and look at new ways of collaborating with more businesses, new partners including residents groups, businesses and newly established organisations, both formal and informal, to reach more people, enabling access to activities, support as well as tangible change for community members.

As always, our priority will be to diversify and grow the charity‟s income to be able to deliver its ambitious strategy; looking at growing our Friends of Elizabeth House group via a community campaign, prioritising grant funding, developing partnerships to seek joint-funding and co-designing new hyper-local initiatives in satellite spaces for better access.

FINANCIAL REVIEW

Income received in the year reduced from £630,631 to £582,782. Expenditure increased by over 14% from £544,008 to £621,422. The net movement in funds for 2025 was an outflow of -£38,640 (2024 inflow of £86,623).

This can be explained by the timing of grants received (in 2023-24) and delivery period (2024-25), as well as the major capital works carried out in summer 2024.

Looking forward, the Charity will continue to look at ways to diversify its income and make income generation a priority to ensure activities are sustained and new projects launched. The Trustees also expect attendance and activities to continue to increase as the organisation‟s new strategy, communication and fundraising plans are implemented.

The total funds carried forward in 2025 are £789,387 (2024 £828,027). Cash reserves of the Trust are £573,005 (2024 £607,373). This represents just over 11 months of expenditure (2024 13.4 months).

Reserves

The trustees are aware of the need to maintain unrestricted general reserves, currently £348,305 (2024 £320,145). The Trustees are conscious of the need to have unrestricted designated funds for building maintenance (£62,919), staffing (£15,000), staff training (£10,000), and equipment (£9,852).

14 July 2025

Approved by the trustees on …………………………………………….. and signed on their behalf by:

…………………………………. gorug bggord Garry Luxford Chair

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Highbury Vale Blackstock Trust

Trustees' Report

For the Year Ended 31 March 2025

THANK YOU TO OUR FUNDERS AND PARTNERS

We could not do it without our funders, partners, individual donors, volunteers, advisers, hirers who support Elizabeth House to deliver a rich community programme. We are very grateful to so many individuals we can‟t name here, but you should know who you are!

In no particular order, we want to thank:

• Our team
• Our amazing volunteers
• Our community chefs
• Our physical activities coaches
• Islington Council		 • Little Angels Nursery
• Islington Sports
• House of Hodge
• Jack Petchey Foundation
• Islington Council • LBI Partnerships Team
• St James Trust • LBI Special Projects Team
• Trust for London • LBI Child and Young People Team
• London Youth • Help on Your Doorstep
• The National Lottery‟s Community Fund • Islington Giving
• Peoples Place Community Partnerships • The Cripplegate Foundation
• The Felix Project • Hedley Foundation
• City Harvest • The Big Alliance
• Bright Start • Camden Council
• Bright Lives • Voluntary Action Islington
• Islington Food Partnership • Migrants Organise Hackney
• Nafsiyat • Gillespie Primary School
• Arsenal Councillors • Ambler Primary School
• Highbury Councillors • Age UK Islington
• Highbury Quadrant Tenants and Residents • Span Trust
Association • SHINE, Islington
• Blackstock Management Organisation • WISH+, Camden
• Headley Trust • Urban Forest Tribe
• Octopus Communities and all our fellow Community • World Harmony Orchestra
Centres in Islington • The Woodbine pub
• GoodGym Islington • Stubbers Adventure Centre
• Whitebrothers Greengrocers • Seasons and Blossoms
• Sport England • Age Without Limits
• Hubbub (Nature Hub) • Dusty Knuckles
• Islington Faiths Forum • James Edwards Property

To volunteer, start a new community group or for more information, please email info@elizabeth-house.org.uk or call us on 020 7690 1300.

Photo credits: Elizabeth House team members

Community picnic July 2024

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Independent Examiner's report to the trustees of Highbury Vale Blackstock Trust

I report on the accounts of the company for the year ended 31 March 2025 set out on pages 13 to 21.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

Basis of independent examiner's statement

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention to indicate that:

es boise

……………………………………………………….

Harry Nicolaou FCA Of Harry Nicolaou and Co Limited Chartered Accountants 21 Brendon Way Enfield EN1 2LF

19 September 2025

…………………………………………..

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Highbury Vale Blackstock Trust

Statement of Financial Activities (including Income and Expenditure Account)

For the Year Ended 31 March 2025

Note
INCOME FROM:
Donations and legacies
Charitable activities:
Grants
2
After School Club income
Holiday Playschemes income
Users hire of premises
Projects hire of premises
Management and supervision of projects
Other income
Investments:
Bank interest
TOTAL INCOME
EXPENDITURE ON:
Charitable activities
Staff costs
3
Premises costs
4
Activities costs
5
Other costs
6
Governance costs
7
TOTAL EXPENDITURE
9
Transfers between funds
16
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
16		 Restricted
funds
£
18,843
159,629
-
-
-
-
-
7,651
-
186,123
107,303
19,819
101,757
4,712
-
233,591
(47,468)
2,818
(44,650)
387,961
343,311		 Unrestricted
funds
£
31,946
80,000
96,087
64,664
59,565
10,400
10,460
28,048
15,489
396,659
255,091
74,138
36,482
152
21,968
387,831
8,828
(2,818)
6,010
440,066
446,076		 2025
2024
Total
funds
Total
funds
£
£
50,789
55,219
239,629
324,979
96,087
88,973
64,664
54,723
59,565
49,801
10,400
8,374
10,460
12,500
35,699
29,490
15,489
6,572
582,782
630,631
362,394
312,212
93,957
64,827
138,239
140,719
4,864
4,677
21,968
21,573
621,422
544,008
(38,640)
86,623
-
-
(38,640)
86,623
828,027
741,404
789,387
828,027

Net income for the year also comprises the net income for the year for Companies Act purposes.

13

Company No. 2849848

Highbury Vale Blackstock Trust

Balance Sheet

As at 31 March 2025

As at 31 March 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 11 261,943 271,990
Total fixed assets 261,943 271,990
Current assets
Debtors 12 21,429 26,240
Cash at bank and in hand 573,005 607,373
Total current assets 594,434 633,613
Creditors:
Amounts falling due within one year		 13 (66,990) (77,576)
527,444 556,037
14 789,387 828,027
The funds of the charity:
Restricted funds 343,311 387,961
Unrestricted income funds:
General funds 348,305 320,145
Designated funds 97,771 119,921
446,076 440,066
Total charity funds 16 789,387 828,027

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 and that members have not required the company to obtain an audit in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

Approved by the directors on ……………………....…………………..14 July 2025

And signed on their behalf by:

………………….……..………..…... gorug bggord Garry Luxford Chair

14

Highbury Vale Blackstock Trust

Statement of Cash Flows

As at 31 March 2025
Cash flow from operating activities
Net (deficit)/surplus for the year
Interest received
Depreciation of tangible fixed assets
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash flow from operating activities
Cash flow from investing activities
Interest received
Net cash flow from investing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at 1 April 2024
Cash and cash equivalents at 31 March 2025		 2025
£
(38,640)
(15,489)
10,047
4,811
(10,586)
(49,857)
15,489
15,489
(34,368)
607,373
573,005		 2024
£
86,623
(6,572)
10,047
(1,610)
2,846
91,334
6,572
6,572
97,906
509,467
607,373

15

Highbury Vale Blackstock Trust

Notes to the Accounts

For the Year Ended 31 March 2025

1. Accounting Policies

Basis of accounting

The accounts (financial statement) have been prepared in accordance with 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) (effective 1 January 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The charity constitutes a public benefit entity as defined by FRS 102.

The accounts have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for twelve months from authorising these accounts and have decided that the charity is able to continue as a going concern.

Income recognition

All income is recognised once the charity has entitlement to the income, there is sufficient certainty of receipt and so it is probable that the income will be received, and the amount of income receivable can be measured reliably.

Expenditure recognition

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that a settlement will be required and the amount of the obligation can be measured reliably.

Expenditure is accounted for exclusive of VAT.

Fund accounting

Restricted funds are grants, donations and other incoming resources which are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

Unrestricted funds are grants, donations and other incoming resources receivable for the objects of the charity without further specified purpose and are available as general funds.

Governance costs

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include costs linked to the strategic management of the charity.

Fixed assets

Fixed assets are stated at cost less accumulated depreciation. Items of equipment and fittings are capitalised where the purchase price exceeds £300.

Depreciation is provided at rates calculated to write off the cost of each asset, less its estimated residual value, over the useful economic life of that asset as follows:

Buildings 2% on cost Equipment and fittings 33.33% on cost

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discounts offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due.

Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Operating leases

Rentals payable under operating leases are charged to the Statement of Financial Activities as incurred over the term of the lease.

Pension costs

The costs of the defined contribution arrangements are charged to the SOFA as incurred.

16

Highbury Vale Blackstock Trust

Notes to the Accounts

For the Year Ended 31 March 2025

2. Grants

LB Islington & Camden - Winter Wellness
LB Islington Community Investment Levy (Nature Gardens)
LB Islington Community Investment Levy (Capital Works)
LB Islington Active Spaces (Nature Gardens)
LB Islington - EYDCP (After School Club)
LB Islington - EYDCP (Playschemes)
LB Islington - VCS
LB Islington - Small Change Big Impact (Youth Club)
Octopus Communities
London Youth Federation (Digital Talent 2.0)
LB Islington - Local Initiatives Fund
Headley Trust
Hedley Foundation
Nafsiyat - Intercultural Therapy and Outreach
Aberdeen Park Nursery
Highbury Quadrant Tenants and Residents Association
Hubbub Foundation
Islington Faith Forum
Islington Giving - Islington Food Fund
Span Trust
Trust for London
Sport England
Sport Islington
National Lottery Community Fund - Cost of Living Fund
Stubbers Adventure Centre
Big Ideas Company
House of Hodge
NatWest Foundation
3.
Staff costs
Salaries and wages
Social security costs
Pension costs
Other staffing costs
Consisting of:
Charitable project staff costs
Charitable governance staff costs (Note 7)
No employee received emoluments of more than £60,000 per annum.
The average weekly number of employees during the year was 15.8
Jack Petchey Foundation
St James' Trust		 Restricted
1,380
-
11,500
23,439
7,000
6,534
4,714
20,224
-
5,000
1,000
24,300
600
5,000
2,680
6,106
875
4,000
9,000
8,000
15,777
2,500
-
-
-
-
-
-
-
-
159,629		 Unrestricted
-
30,000
-
-
-
-
-
-
50,000
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
80,000		 Total
2025
£
1,380
30,000
11,500
23,439
7,000
6,534
4,714
20,224
50,000
5,000
1,000
24,300
600
5,000
2,680
6,106
875
4,000
9,000
8,000
15,777
2,500
-
-
-
-
-
-
-
-
239,629
2025
£
324,852
22,244
6,096
27,899
381,091
362,394
18,697
381,091		 Total
2024
£
1,900
30,000
16,450
-
-
-
6,717
44,115
50,000
5,000
5,383
10,100
5,100
10,000
-
4,815
-
-
-
-
-
-
44,000
10,778
1,250
61,000
1,291
750
3,830
12,500
324,979
,
2024
£
290,727
18,394
5,433
15,584
330,138
312,212
17,926
330,138

4. Premises costs

Cleaning, maintenance, health and safety, repairs
Insurance
Light and heat
Business rates and water rates
Depreciation of buildings		 2025
£
54,558
7,329
10,707
11,316
10,047
93,957		 2024
£
28,140
6,403
9,608
10,629
10,047
64,827

17

Highbury Vale Blackstock Trust

Notes to the Accounts

For the Year Ended 31 March 2025

5. Activities costs

Management and supervision of projects
Office equipment, materials, printing, stationery & postage
Travel, volunteer, project activities, food hub, project equipment and sundry expenses
Telephone, internet and website
Equipment hire and maintenance
IT development, maintenance and support
Tutors' costs		 2025
£
10,460
2,396
73,850
1,413
2,007
2,091
46,022
138,239		 2024
£
12,500
1,737
77,366
928
1,358
943
45,887
140,719

6. Other costs

Bank charges
Subscriptions
Consultancy fees
7.
Governance costs
Salaries and wages (Note 3)
Independent Examiner's fee
Telephone
Other expenses		 2025
£
135
651
4,078
4,864
2025
£
18,697
3,000
48
223
21,968		 2024
£
183
1,089
3,405
4,677
2024
£
17,926
3,500
49
98
21,573

8. Transactions with trustees

No remuneration was paid to the trustees in their role as trustee during the year and no expenses were reimbursed to them. The trustees together with their family members have no beneficial interest either directly or indirectly in any contract of the charity.

9. Net incoming resources for the year

2025 2024
£ £
This is stated after charging:
Depreciation (Note 11) 10,047 10,047
Independent Examiner's fee: (Note 7) 3,000 3,500

10. Taxation

The charity has no corporation tax liability because income from its activities is in pursuance of its charitable objectives and all income is applied for charitable purposes.

18

Highbury Vale Blackstock Trust

Notes to the Accounts

For the Year Ended 31 March 2025

11. Tangible fixed assets

£
Cost
502,299
502,299
Depreciation
At 1 April 2024
230,309
Charge for the year
10,047
240,356
Net book value
261,943
271,990
At 31 March 2025
At 31 March 2024
Freehold land
and buildings
At 1 April 2024
At 31 March 2025
At 31 March 2025		 £
70,699
70,699
70,699
-
70,699
-
-
Equipment
and fittings		 £
572,998
Total
572,998
301,008
10,047
311,055
261,943
271,990

The market value of freehold land and buildings is significantly more than the carrying value and has been estimated by the trustees to be over £1m.

12. Debtors

Prepayments and accrued income
Other debtors
13.
Creditors: amounts falling due within one year
Taxation and social security
Deferred income
Other creditors
Accruals
Loan (secured)		 2025
£
523
20,906
21,429
2025
£
14,521
10,039
4,430
3,000
35,000
66,990		 2024
£
1,032
25,208
26,240
2024
£
7,361
19,658
12,057
3,500
35,000
77,576

The loan is interest free and secured by a charge over the land and buildings.

Deferred income comprises grants and other income received in advance of the period to which they are intended.

14. Analysis of net assets between funds

Analysis of net assets between funds
Fixed assets
Current assets
Current liabilities		 £
261,943
116,368
(35,000)
343,311
Restricted
funds		 Unrestricted
funds
£
-
478,067
(31,990)
446,076		 Total funds
£
261,943
594,434
(66,990)
789,387

19

Highbury Vale Blackstock Trust

Notes to the Accounts

For the Year Ended 31 March 2025

15. Operating lease commitments

As at 31 March 2025 the company has total future commitments under non-cancellable operating leases as follows:

2025 2024
£ £
Not later than one year 1,834 1,834
Later than one year and not later than five years 5,959 7,793
7,793 9,627
Statement of funds
Transfers
Incoming Outgoing between At 31 March
At 1 April 2024 resources resources funds 2025
£ £ £ £ £
Restricted funds
Building Fund 236,989 - (10,047) - 226,942
Food Hub 79,173 38,634 (56,960) - 60,847
Adult Community Activities 33,925 17,606 (31,013) - 20,518
Nature Connections 1,691 44,623 (29,309) - 17,005
Community Events 3,515 1,685 (1,482) - 3,718
PPCP/ 21CS IT Training 23,063 24,300 (47,363) - -
Holloway Mural Fund 1,105 - - - 1,105
Equipment Fund (49) - - 49 -
Building Maintenance and Improvement - 9,500 (9,500) - -
Children's Activities 2,837 24,938 (25,014) (2,761) -
Youth Activities 5,712 24,837 (22,903) 5,530 13,176
387,961 186,123 (233,591) 2,818 343,311
Unrestricted funds
General funds 320,145 396,659 (365,681) (2,818) 348,305
Designated funds: -
Building Maintenance Fund 84,921 - (22,002) - 62,919
Staff Redundancy and Sickness Fund 15,000 - - - 15,000
Staff Training Fund 10,000 - - - 10,000
Equipment Fund 10,000 - (148) - 9,852
440,066 396,659 (387,831) (2,818) 446,076
Total funds 828,027 582,782 (621,422) - 789,387

16. Statement of funds

Continued

20

Highbury Vale Blackstock Trust

Notes to the Accounts

For the Year Ended 31 March 2025

16 continued

Details of restricted funds

The Building Fund represents the cost and improvement of Elizabeth House less loan and accumulated depreciation. The Children's Fund is to provide activities for children and childcare during term time and school holidays .

The Youth Fund is to provide free, youth-led activities for 11+.

Adult Community Fund is to cover essential community activities and staffing costs, including our over 50's lunch club, community meals, Winter Wellness calls, women-only and warm space related activities.

Food Hub Fund is to support residents affected by food insecurity and the cost of living crisis. The Food Hub is a social supermarket that provides essential food to registered residents, as well as a social hub to support local connections and facilitate access to other services and activities.

Nature Connections Fund is to provide access to nature activities for local residents and develop green spaces into thriving green areas on local housing estates, while supporting residents' wellbeing, local biodiversity and food growing.

Community Events Fund provides resources for inclusive community events at Elizabeth House and in the wider community to create deeper connections between local people.

21st Century Skills Fund was set up in partnership with PPCP to provide IT training and work experience for young people (18+) to secure jobs in the IT sector. This includes a number of projects such as Digital Talent.

Building Maintenance and Improvement Fund is dedicated for any restricted funds for capital works at Elizabeth House .

Holloway Mural Fund was raised by local residents to create a mural on Holloway Road. Funds are retained for future maintenance of the mural.

17. Pension costs

The charity participates in defined contribution workplace pension arrangements for members of staff. The employer contribution rate is 3% and the cost for the year was £6,096 (2024 £5,433). There was no outstanding amount at the year end.

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