Charity R8glstration No. 1049243 Company Registration No. 03101192 England and Wales) The Larches Trust Limited Trustees Report and Unaudited Flnancial Statements th For tho year ended 30 September 2024
Larches Trust Limited Trustees Report th For the year ended 30 September 2024 CONTENTS PAGE PAGE NUMBER Administration Information Trustees Report Independent Examiners Report Statement of Financial Activities Balance Sheet Notes to the Accounts
Larches Trust Limited Trustees Report For the year ended 30th September 2024 Organisation Name." The Larches Trust Limited Registered charity and registered company limited by guarantee Company Registration Number: 03101192 Charity Registration Number: 1049243 Registered Office and Operational Address: Larches House, 1 Rectory Lane Edgware, Middlesex, HA8 7LF Trusteesl Directors: Sasha Holyoke - Treasurer Gemma Gordon Johnson Resigned (16th March 2022) Tirza Waisel Resigned (29th July 2022) Angela Brooks Chief Executive Officerlcompany Secretary: Linda Edwards MBE Bankers: Barclays Bank PLC, 1 North End, Croydon. Surrey, CR9 1 RN
Larches Trust Limited Trustees Report For the year ended 30th September 2024 Members Activities October- December 2023 Members continue to engage well with Learning for Life programme and provide good feedback to Linda and tutors. In striving to embrace Co-creation, Members are involved in planning courses they would like to have in our Leaming for Life programme. October saw everyone retum to Larches House for most courses after a spell of cost cutting. much to the delight of tutors and members. We are still holding the Ambassador's programme in the Management Office in The Broadwalk Shopping Centre as this has created a more formal and community setting for Larches Ambassadors. We returned Project Monitoring to Fundraising Officers at Community Fund, they were happy with all reports and praised encouraging feedback. Discussions began again around the re-development of Larches building. We decided that because the current financial situation Larches find themselves in would make approval of a loan challenging at this time, we would delay this project. It Was agreed to find ways to increase the income through higher Member numbers or increasing hall hire Income to bring in much needed revenue. We ended the year for Members with certificates and a party. We are immensely gratefijl for th8 work our Tutors, their dedication encourages people's skills to grow, connections and bonds to deepen. We are aware that there is further improvement with co-operation and confidence of our Members The end of year party was huge success and enjoyed by everyone. Chief Executive of Barnet, John Hooton, thanked Linda for all the support she does and for the people of Barnet, as well as Larches community. January 2024 - March 2024. Hall hire increased thanks to social media consultant. This work creating and sharing across social media platforms increased engagement and resulted in hall hire enquiries and bookings increasing. Member numbers remain low since Covid. We are monltoring progress and reporting to build testimonials with our Learning for Llfe Programme and grant applications. The topic for the term was"Self-Respect" one of our core values and encouraging to make this part of daily practise for Members. Young Barnet Foundation used our hall for a networking event centred around how to improve services for young people in Barnet. Aprll- MaYUne 2024 Members continue to thrive in Drama, and workshops based on living Values. Theme for development for Members - "We don't know No!" and .1 can't. Yet!" Challenging the beliefs Members have about themselves and how they can strive to complete goalslactions feeling 'safe'. As part of our continual monitoring and evaluation to demonstrate good practice and demonstrate individual progress and positive change, we asked families for feedback as well Self Esteem was another important theme covered in Drama and Arts and Crafts. reminding everyone "You are wonderful" Our Tutors prepare a 14 week plan of activities.
Larches Trust Limited Trustees Report th For the year ended 30 September 2024 September 2024 - During August we arranged for Members to meet for a chat and coffee as it is a long break. Larches secured a £3500 grant from Shoresh Trust for Leaming for Life. Members returned full of enthusiasm and excitement for a new term. Members numbers still are reported as low. a new focus is needed to bring in new leamers for taster sessions. October 2024 We close this reporting year aware of our challenges but hopeful we will find ways in which to grow over the naxt 12 months. The results from Leaming for Life and the feedback encourage us that we have something unique to offer.
Larches Trust Limited Trustees Report For the year ended 30th September 2024 Financial Review The income for the year was £96.569 (2023: £50.520. Total expenditure was £83.512 (2023: £77,444). Overall net deficit for the year was £13,057. The organisation continues to review its fundraising strategy and is taking action to contain expenditure and apply for more funding in the forthcoming year. Risk management The trustees have a risk management strategy which comprises". an annual review of the principal risks and uncertainties that the charity the establishment of policies, systems and procedures to mitigate those risks identified in the annual review; and the implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise. The Trust8es constantly review risks relevant to the charity. Any risks identified are reported to the Trustees and decisions made on how to minimise risk. Reserves and Going Concern The Larches needs reserves to provide working capital for activities that are not underpinned by restricted reserves," to meet planned and foreseeable unplanned Maintenan and repaircosts for property and Offi equipment, and to ensure that it can meet its contractual liabilities (including redundancy pay and amounts owing to creditors) in the event of a shortfall in expected income. In the current, unrtain funding environment, the trustees consider that the optimal level of reserves for the charity to hold to ensure that it can continue to provide a stable and quality service to its stakeholders is equivalent to three months of its operating income. Ralated parties and co.operation with other organi5ations None of our trustees receive remuneration or other benefit from their work with the charity. Any connection belween a trust& or senior manager of the charity with its members must be disclosed to the full board of trustees in the same way as any other contractual relationship with a related party. In the current year no such related paty transactions were reported other than that mentioned in note 13.
Larches Trust Limited Trustees Report For the year ended 30 September 2024 Responsibilities of the Trustees The charity trustees (who are also the directors of The Larches Trust Ltd for the purposes of company law) are responsible for preparing a trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Stsndards (United Kingdom Generally ACpted Accounting Practice). Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure. of the charitable group for that period. In preparing the 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. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and the group and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Approval This report was approv8d by th8 board of directors and trustees on 29th June 2025 signed on its behalf by: Sasha Holyoke Treasurer
Larches Trust Limited Independent Examiners Report For the year ended 30th September 2024 I report to the trustees on my examination of the accounts of the above charity for the year ended 30th September 2024. Responsibilities and Basis of Raport As the charity's trustees. you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 {"the Act"). I report in respect of my examination of the Trust's accounts carried out under section "145 of the 2011 Act and in carrying out my examination. I have followed all the applicable Directions given by the Charity Commission under section 145(5){b) of the Act. Independent examlnerfs Statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act", or the financial ststements do not accord with those records; or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair view, which is not a matter considered as part of an independent examination; or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understsnding of the financial statements to be aChed. eisha Chidziva Independent Examiner KDP Accounting Services 27 Old Gloucester Street London WC1N 1AX Date". 2910612025
Larches Trust Limited Statement of Fin8nclalActivities Forthe year ended 30th September 2024 Not8$ Unrnstrlctsd De3lgnated R•$trl¢t•d Total Funds Total Fund5 Fund$ Funds Fund$ 2024 2023 In¢omo Donations 40,272 40.272 7,239 Inv8Stm8nt Income 12,139 Charftable Advlli85 42.232 4.700 46,932 29,363 Other Incom8 39.364 Total Incom• 121,869 4.700 126,S69 50,520 RQUr¢Ol Expond•d On Charitable A¢livitigs 100,568 120 905 77,444 Tot•l Expendlturo 100 568 20,337 120 905 Net Incomlngl Outgolng ROurCeS 21,301 115.6371 5,684 126.9241 8alanc• Brought Forward 21.102 15,637 199.151 228,078 Total Fund$ Carrlgd FopAfard 199 204,616 204,815 199,151
Larches Trust Limited Balance Sheet as at 30th September 2024 2024 2023 Fixed Assets Tangib18 Fixed Assets 510,533 511,511 Current Assets Debtor5 36,108 9,838 45,946 Cash at Bank 5,436 5,436 43.341 {37,905) Creditors due withln one year Net Current Assets (34,8601 Creditors du8 in more than one year io 267,813 277 501 305.718 204815 312,361 199 151 Net Asset$ Represented By: Restricted Funds li 15,637 204,616 Designated Funds General Funds 204,616 199 12 204,815 199,151 For the financial year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibility for complying with the requirnents of the Act with respect to accounting records and for the preparation of accounts. The accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. These financial statements were authorised by the Trustees on 29" June 2025, and were signed on their behalf by: Treasurer Date.. io
Larches Trust Limited Notes to the Accounts th For the year ended 30 September 2024 1. Accounting Pollcies The principal accounting policies adopted in the preparation of the financial statements are as follows: a) Basis of preparation The financial statements have been prepared in accordance with the Accounting and Reporting by Charities.. Staternent of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable to UK and Republic of Ireland (FRS 102) (effective 1 January 2015)- (Charities SORP) (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006. The Charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otheiSe stated in the relevant accounting policy note{s) In preparing the financial statements the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102, the restatement of comparative items was required. After due consideration, it was concluded that no restatement of the comparatives was required. As stated in the Transactions and Financial Situation paragraph in the Directors, and Trustees report, the board is of the opinion that the accounts are to be prepared on a Going Concem basis. This as a result of measures being in place to ensure that the organisation will only commit to expenditur8 where these are funded via grants reiVed and only where there are funds available to meet the levels of expenditure. In addition to this, the organisation Gontinues to intensify its efforts to apply for grants to fund its activities. The period covered by this assessment is at a minimum of twelve months from the date of the approval of the accounts. The charity has taken advantage of the exemption, not to prepare a Statement of Cash Flows as conferred by FRS 102 (September 2015 version) and Bulletin 1. b) Incoming resources Voluntsry income including donations, gifts and grants that provide core funding or are of a general nature are recognised where there is entitlement. rtaInty of receipt and the amount can be measured with sufficient reliability. Such income is only deferred when.. The donor specifies that the grant or donation must only be used in future accounting periods., or The donor has imposed conditions which must be met before the charity has unconditional entitlement. Investment income is recognised on a receivable basis. Income from charitable activities includes income received under contract or where Entitlement to grant funding is subject to specific performance conditions is recognised as earned (as the related goods or services are provided). Granl income included in this category provides funding to support performance activities and is recognised where there is entitlement. c) ReSoUrS expended Resources expended are included in the Statement of Financial Activities on the accruals basis inclusive of VAT which cannot be recovered. Where members of staff carry out duties which fall into more than one category, costs. including related overhead costs are allocated on the basis of estimated time spent on the various duties
Larches Trust Limited Notes to the Accounts th For the year ended 30 September 2024 1. Accounting Policies {contd) d) Tangible assets Fixed assets are shown at historical cost. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life by.. 20 % Reducing Balance Method - Fixtures and Fittings 50/0 Straight Line Method - Propety Improvements e) Funds structure The charity has a number of restricted income funds to account for situations where a donor requir8S that a donation must be spent on a particular purpose or where funds have been raised for a specific purpos8. All other funds are unrestricted funds, fj Pensions The charity operates a defined contribution scheme. Contributions to the scheme are based on applicable pension costs in the organisation taken as a whole. The pension charge recorded in the accounts is the amount of contributions payable in the accounting year. g) Debtors Trade and oth8r debtors are recognised at the s8ttlem8nt amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. h) Cash at bank and In hand Cash at bank and in hand includes cash and short term highly liquid investments in deposits or similar accounts. i) Creditors and provisions 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. 12
Larches Trust Limited Notes to the Accounts For the year ended 30 September 2024 2. Donatlons Total Funds 2023 Unrestricted funds Restricted funds Total Funds 2024 General donations 40,272 40,272 40,272 40,272 7,239 7,239 3. Investment Income Unrestrlcted funds Restrlcted funds Total Funds 2024 Total Funds 2023 Interest Rental Income 11,532 11,533 4. Charltable Acllvitles Unrestrlcted funds Restrlcted funds Totsl Funds 2024 Total Funds 2023 Charitable Actlvltles 42,232 42,232 4700 46,932 46,932 29,363 29,363 4,700 5. Other Income Unrestricted funds Restrlcted funds Total Funds 2024 Total Funds 2023 Rentsl Income 39,364 39,364 Oth6r Income 1,778 39,364 39,364 1,778 13
Larches Trust Limited Notes to the Accounts th For the year ended 30 September 2024 6. Resources Expended Total Funds 2024 Total Funds 2023 Expenditure on Charltable Activitles UnrestriGte d funds Restricted funds Salaries 12.548 20.337 32,885 34,853 utilities 44,673 44,673 Admin and Office Expenses 14,539 14,539 10,807 Consultancy Fees Marketing and Communication 4.925 4,925 1,804 1,804 Insurance 4,810 4,810 4,353 Bank Charges 108 108 Interest Payable Independent Examination Fees 14,733 14,733 1,450 1,450 1,300 Subscriptions & Reference Materials 762 Project activity costs & Mosaic 350 Premises Cost 8,552 Finance Cost 12,960 Depreciation 978 978 3,506 100,568 20,337 120,905 77,444 14
Larches Trust Limited Notes to the Accounts For the year ended 30" September 2024 7. Tangible Fixed Assets Land and Buildin Fixtures and Fittin Costs Pro Total At 1st Oct 2023 Additions At 30th Sept 2024 499,522 68.909 20.991 589,422 499,522 68,909 20,991 589,422 Depreciation At 1st Oct 2023 Charge for the Year 68.771 138 68,909 9.140 77,911 978 78,889 9,980 Net Book Value as at 30 Sept 2024 Net Book Value as at 30 Sept 2023 499,522 499,522 11,011 11,851 510,533 511,511 138 8. Debtors 2024 2023 Rental Income 12,138 9. Credltors: Amount falllng due In one year 2024 2023 Bank Loan Salaries and Pension Control Accruals 8,150 33.741 1,450 43,341 8,150 72,856 81,006 10. Credltors: Amounts falling due in more than year 2024 2023 Oth8r Creditors Bank Loan 73,800 194,013 267,813 73,800 203,701 277 501 15
Larches Trust Limited Notes to the Accounts th For the year ended 30 September 2024 11. Restricted Funds Analysls Balance as at 1st Oct 2023 Incomlng Resources Outgoing Resources Balance at 30th Sept 2024 London Borough of Barnet 4,700 (4,700) (11,104) Shoresh 11.104 Awards for All Covid-19 Emergency 995 (995) 3.537 3,537 15,637 4,700 20,336 The purpose of the fund: . Social Enterprise - People with learning disabilities are making handmade cards, candles, diffus8rs, bookmarks and hous8hold accessories in our pilot craft social enterprise from a business plan developed by a volunteer from Middlesex University. 12. Unrostricted Funds Analysi8 Balance as at 1st Oct 2023 Incoming Resource8 Outgoing Balance at Resources 30th Sept 2024 Designated Funds- Fixed Asset 204,616 21,102 183,514 204,616 199 General Funds 121,869 121,869 100,568 100,568 204,815 13. Related Party Transactions The charity's Chief Executive, Linda Edwards's loan of £79,000 to the charity. £5,000 was repaid in the 2022 financial year. The loan balan £73,800 was outstanding at 30 September 2024. 16