Docusign Envelope ID.. 2C94490B_28564A61.BDOM60755Fg1 DDE klkj ii. Walworth Garden Trustees. Report and Financial statements for the year ended 31 March 2024
Docu5igp. Irivelope ID.. 2C9449QB.2856-4A# 8D03-560755FgIDD Contents Page Refereiice and adrninistrative details of the Coinpany, its Trustees and advisers 2-16 Trustees, report 17-18 Independent examiner's repoyt 19 Statement of. f Inancial activities Balance sheet . Statement of cash flows Notes to tlie f inancial statements 22-40
Oocusign Envelope ID- 2C94490&28564A81-BD03-560755F91 DDE •&• Walworth Garden Board of Trustees Kathryn Tomlinson, Chair Caroline Jack, Vice Chair Anna Westacott, Treasurer Claire Richards, Company Secretary Kishma Smithurst Sui-Te Wu Jasmeet Phagoora Sophie King Charles Wynn-Evans (resigned 23 January 2024) Yue S. Ang Alison Flynn Company Registered Number: 03312510 Charity Registered Number: 1060863 Registered Office: 206 Manor Place Walworth London SE17 38N Company Secretary: Claire Richards Accountants: Griffin Stone Moscrop & Co Chartered 21-27 Lamb's Conduit Street London WC1 N 3GS
Docusign Envelope 10" 2C944908-28564A61.8003-560755F910DE Trustees, Report for the year ended 31 March 2024 The Trustees present their annual report together with the financial statements of the Company for the 1 April 2023 to 31 March 2024. The Annual report serves the purposes of both a Trustees, report and a directors, report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective l January 2019). Since the Company qualif ies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors, Report) Regulations 2013 has been omitted.
Docusign Envelope ID" 2C94490B.28564A61_BDOJ_560755Fg1 DOE es ObjectiL_ and Activities Policies and objectives Walworth Garden's mission is "To improve lives by delivering excellent learning and horticultural therapy in an award-winning garden that's open to all" Our beneficiaries are people who are not in work or education, vulnerable or disabled adults and local people who may not have a garden of their own who come to relax and enjoy time out in our tranquil green space. The charity has been in operation since 1987, when local residents first transformed a derelict street corner, in a heavily built-up and densely populated area of Southwark, into a community garden and meeting space. Ten years after it was first established it was registered as a charity and today, over thirty-five years on from the initial transformation, the award-winning garden is: A learning centre focusing on matters relating to our environment. A community garden which operates on organic principles is open seven days a week and is free for all to visit A well-stocked community plant centre, focussing on home propagation and with an online, delivery service providing the local community with all they need for their gardens, terraces and balconies A City and Guilds-accredited School of Horticulture, providing training and work experience for people who are not in work or education to help them into work or further education. A place for local people to learn about organic and environmental gardening practices; gardening for wildlife,. herbal medicine,. fermentation; natural cosmetics and other subjects around the remit of health, wellbeing and the environment. A provider of gardening therapy for those with mild to moderate mental health issues that helps them to build confidence, make friends and have fun learning about growing plants and produce; also for those on a journey back to the workplace. An environmental landscaping company; a London Living Wage employer of trainee gardeners and apprentices, often with barriers to employment.
Docusign Envek>pe ID.. 2C9449O28S64A81-Bt)06o7SsFg1D0E Walworth Garden is a beautiful and well- stocked community garden with a wide variety of fruits, vegetables and ornamental plants, many of horticultural merit and curiosity. It has an increasing number of wildlife ponds of varying sizes and styles, which serve as examples of how easily the local community can build their own ponds to help local wildlife and encourage biodiversity; raised beds which house both food and ornamentals; example beds where the community can learn about wildlife friendly planting; wormeries and bokashi bins which convert kitchen waste into organic plant feed to exemplify waste reduction systems to the local community", an education centre and external teaching space,. potting shed where students and volunteers learn to propagate and 'pot up,; two industrial sized greenhouses, an external classroom and a geodesic dome that doubles as a cactus and succulent house. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Docusign Envelope ID". 2C94490B_28564A61.BDO2_560755F91 DDE Achievements .and Performance Review of Activities In this year, a remarkable ninety-eight students gained a qualification in Environmental Gardening and forty-nine took advantage of our offers in therapeutic horticulture. Students went on to gain employment with a multitude of reputable organisations including the RHS and Chelsea Physic Garden. One student said .1 also just wanted to say an absolutely massive thanks to you again for all the passion and care you put into teaching. It made my year at Walworth really colourful, warm and engaging and this has led me to pursue a Masters in Landscape Architecture at uni. this year and I feel I've really found my calling. Absolutely loving it. This decision was 100% inspired by my hort. diploma. So thank you., The downturn in the economy, however, has continued to have a significant impact on both the fortunes of the organisation, its staffing and in turn, its operations. The Garden has once again demonstrated its resilience and adapted itself to the new local and national landscape. While tremendous successes in fundraising has meant the improvement plan and our desire to create an Environmental Learning Centre now looks like a future certainty, the financial fortunes of the organisation has been dealt a blow by the sudden cut to funding from the local council, impacting not only the work we do and the number of staff we employ but also the number of the community we reach. In response the team have pulled together and adapted to ensure the stability of the organisation and to pave the way for its new look as it moves into the future, changed but not beaten. The environmental work of the Landscaping Company continued with projects across the borough including more wildlife pond construction, mixed hedge planting and a return to a local primary school where previous significant works were added to. The department celebrated being shortlisted and coming runners up with a specia5 commendation in the Pro Landscaper Awards in the category Industry Collaboration.
Docuslgn Envolopg ID.. 2C9449DB.28S8.4A61.BDOM60755F91 DD The recruitment of a new leader in the educatlon department saw a refreshed vislon for both the teaching of Level 2 and for the programme of weekend short courses the Jarden offers the local community. In the Plant Centre, propagation choices continued to evolve as the impact of the cllmate crlsis and resultlng blodlverslty decline spurred staff to re-examlne the benefits that individual species of plants bring, particularly In relatlon to solltary bees. A new five-year strategic plan wlth ambitions to Increase reach and influence across London began to have an impact, Some staff broadened their work tD Include training events tailored for organisations such as The Design Museum, Friends of the Earth and Soclal Farms and Gardens. The CEO spoke on the panel of The Royal Horticultural Society's Diversity Equity and Inclusion Conference which in turn led to features In both BALI maga71ne and varlous other publications. Tho Communlty Garden The Garden has contlnued to embed Itself In the local and wider community in Innovative ways. A successful funding bid in thls area saw teachers welcome a record-breaking number Df vlslts from school chlldren, p8rtlcularly those from prlmaiy Schools whose curriculum now contains elements of plant study, rotting organic material and wlldllfe. The warmer months saw countless chlldren In organised groups thrilled to see and hold wrlggling earthworms and listening for the sound of a visltlng wren and our parakeets as they toured the site, We have also welcomed record numbers of corporate volunteerlng groups to the Clarden who have contributed to the repair and preservation of our faclllties and at the same tlme enabled us to reach new audlences in the corporate world, Some of these relationships have contlnued to develop, resulting In fundlng opportunltles and wellbelng and sustainablllty workshops tailor-made for them and dellvered In thelr corporate offlces. The Garden has again won a Green Flag Award for Its servlce to the communlty and It8 seamless and well thought out approach to sustalnablllty, championlng all things that address the negative impact that our populatlons are having on the environment. The award and its judgement was delivered after a record breaklng short Inspectlon of 28 minutes and concluded with "I have no criticisms, you're doing everything right"
Docusign Envebpe ID.. 2C94490B-28564A61-BD03-560755F91DDE Last year we took the difficult strategic decision to close our apiary, to encourage support for solitary bees and reduce the over-supply of honey bees in London. The absence of these social creatures has meant we have not been able to demonstrate their organised lives to visitors, close up. However, for the broader benefit of the environment, we have been delighted that the number and variety of other bees and wasps that visit the Garden appears to have increased. In this period, the Garden held successful public consultations and has now achieved full planning permission for the improvements it will be making to the site which, among other things, will include a new, second classroom, further comfort facilities, therapy rain shelter and a more accessible entryway. Funding for this ambitious project, which aims to launch Walworth Garden as an Environmental Learning Centre for London, has now exceeded the halfway mark. The Plant Centre The economic downturn alongside a persistently and increasingly unpredictable climate has affected this area of our operations significantly this year. Our community has had less money to spend on plants and gardening and weekends full of torrential rain has kept gardeners from attending to their gardens. Regardless, the Plant Centre has continued its journey of increasing the amount of stock that is home propagated. This enables us to pass on stock that is guaranteed to have a significantly reduced carbon footprint and is in most cases cheaper at the point of purchase to the consumer. Coupled with this, the team made the strategic decision to stop heating the large greenhouse through the winter, acknowledging the unsustainability of fostering many houseplants in artificial conditions. We have chosen, instead, to focus on those plants that can tolerate our cold winters without the need for additional, costly and resource hungry heating systems. The world of so called 'indoor' plants is under scrutiny for being wasteful and unnecessarily polluting and our preference is to leave this element of the industry to those who have an abundance of indoor spaces and who are able to address the demand for'house, plants with greater ease.
Docusion Envelope ID.. 2CS449OB-28584A61_BD03460755F91DDE Thi% rejection of artlficial growing has meant the team has had more time to focus on our specialism: plants that contribute to the environinent, elther through provlding food (for animals or humans) or as a form of shelter for overwintering anlmals. In turn staff have been exploring those plants, some of whlch are often Ignored by the industry because they do not flt the recognlsed categories of regular garden centres, It Is here that Walworth Garden Is likely to excel, Adult Learning City & Guilds accredited Hortlcultural tralnlng This year, the educatlon team ran fifty-six weekend workshops, provlding three hundred and seventy-eight free places for the local community. Feedback from these shorter courses has rémained very posltlve with 9790 of attendees rating the teaching as 'great' and one student saylng, 'This was such a wonderful experience, especlally as it was free for Southwark residents and I would not otherwise have been able to attend. Many thanks!, Last year, our accrediting body, Clty & Gullds decided to discontinue the teachlng of the course we had been running for many years, (Work Based Hortlculture) and introduced Practical Hortlculture Skllls. Thls year, teachers have embraced this new quallflcatlon and the education team have set 8bout chooslng unlts that align with Walworth Garden's ethos. The recruitment of a new leader and a new member of teaching staff In this area has not only relnvlgorated the department but also resulted In the Garden making the brave choice to rebrand the course they teach as 'Environmental Gardening,, This welcome decision while much of the horticultural Industry persists in promoting unnecessarily pollutlng practlces, Our expectation is that our graduatlng students will permeate the industry as they become employed and make changes from wlthin, Thls year we welcomed an Injectlon of additlonal funds from an Internatlonal property developer, Durkan Homes. Durkan formed a relationship wlth the Garden as It was preparing to rebulld a terrace across the road from the Garden and witnessing first hand the work we do In the communlty, declded to contribute to our Level 2 training programme. Durkan Homes enabled 22 people from across London the opportunlty to lift themselves out of poverty by gainlng a qualiflcation.
Docusign Envebpe ID.. 2c944908-28564A61-BD03-560755F91DDE Short Courses This year the fifty-six weekend workshops we delivered, enabled three hundred and seventy-eight community members to attend for free, alongside one hundred and sixty- three self funded attendees. The popularity of these, more casual learning opportunities has continued in this year with the team continuing to experiment with the introduction of new subjects and the closing of others. Bonsai on a Shoestring brought the Garden a new and predominantly male audience and has now progressed from a one day to a two-day workshop. Composting, on the other hand, was taken off our list of offers. The subject was very popular when first introduced but over the years we've found that many other organisations in our area have also started offering this very important subject. We made the decision, instead, to embed this subject into our other gardening-related subjects. J. {1 IL )HRIIB5 IPI I INfJ(-I
DocusvJn Envelope ID.. 2C94490&28564A61-BD03-560755FgIDDE Social & Therapeutic Horticulture - Gardening Therapy Both 'GrowBack' (for those who lack the confidence to re-enter the workplace) and our Social & Therapeutic Horticultural Therapy programme, (for those who are suffering with mild to moderate mental health issues), reliant on funding, have done well this year. Over the years, we have found that the name of an offer can affect its uptake and this is an example. The term Social & Therapeutic Horticulture is immediately exclusionary and seems to serve the needs of those that have created the programme and not those that will take part. As the Garden has developed it has gained the confidence to challenge these accepted norms and much like rebranding the Level 2 in Practical Horticulture Skills as Environmental Gardening, this change in name has also served to make more accessible this most fundamental of offers. We now call this programme Gardening Therapy. We continue to see successes in these most therapeutic of programmes with service users regularly gaining the confidence to progress from this to accredited training at Level 2 and then into the workplace •¥
Docusvjn Envelope ID: 2C9449028S64A8l-BDo3-56O7SsFglDDE Walworth Garden Services Division The year saw the team return to a project at a local primary school where they have been recognised as runners up. (with Special Commendation) in the Pro Landscaper Awards, Industry Collaboration. Here they continued the specialist work of building and protecting habitats in order to promote biodiversity. However, like the Plant Centre, being dependent largely on our community spending their money, this area has been significantly affected by the lack of confidence our locals have in the economy. When faced with difficult choices, understandably, locals will spend what money is available on more necessary items such as food and heating. At the same time, the local council made the decision to cut the funding for the Southwark Garden Projects. This has been a mainstay for the Garden for many years and this cut is evidence of the wider economic situation in which Walworth Garden now operates. Not only has this decision by the council significantly affected this department but all the vulnerable people who have, over the years, benefitted from having a free gardening service. Many of these beneficiaries have declared they feel abandoned while their gardens continue to grow, apparently out of their control. The Southwark Garden Projects not only kept unruly gardens in control but also acted as a welfare check for those residents most in need who, often isolated, saw the arrival of the gardeners as a welcome break from loneliness. The result has been that the department has had to reduce in size and though now modified, continues to work addressing the environmental gardening needs of the local and wider community. Ever creative, the team have taken to applying for funding for projects that align with the Garden's ethos", largely the creation, protection and promotion of habitats to increase biodiversity.
ocusign Envelope ID. 2C9449OB.28564A61_BDJi-560755F91 DDE ancia A) Going Concern After making appropriate enquiries. the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies. B) Reserves Policy The board considers it appropriate to have free reserves sufficient to cover a period of unforeseen difficulties and consider this to be equivalent to a minimum of four months operating costs or £240,000. Free reserves comprise that part of total unrestricted funds that are freely available. Trustees are addressing how to meet this target as part of the strategic plan. As at 31 March 2024, total funds stood at £163,054 (£209,820 2022/23). Unrestricted and non designated funds as at 31 March 2024 are £47,721 (£172.766 2022/23). C) Financial Review Our income totalled £585,132 (£505,804 in 2022123) against outgoings of £631,898 (£523,513 in 2022/23) leading to a deficit for the year of £46,766. This compares to 2022/23 deficit of £17,709. The unrestricted reserves decreased to £57,889, compared to £194,681 in the previous year. Restricted reserves increased to £105,165 (£15,139 in 2022/23). In 2023/24 the trustees undertook a careful review of our trading activities. undertaken by our subsidiary company Walworth Garden Trading Ltd. The trading company was established in 2020, in order to manage the risk of high levels of plant centre sales, resulting in a potential corporation tax liability for non-primary purpose trading. On review, trustees concluded that our activities continue to be majority primary purpose trading, and therefore the resources required to run a separate trading company outweigh its benefits. We have therefore decided to close Walworth Garden Trading Company and the Trustees are seeking advice on how to appropriately action this once all company liabilities have been settled and the appropriate filings made.
Doryjsign Envelope ID.. 2C94490B_28564A61-BDDk560755F91DDE d) Principle Funding This year our Fundraising and Engagement Officer has been focused on both regular fundraising for the organisation and also for the improvement plan, the success of which would see Walworth Garden positioning itself as an Environmental Learning Centre for London. The Year has seen successes from the Elephant & Castle Community Fund; Hedley Foundation: Finnis Scott Foundation," Southwark Council - Active Southwark Olympic Legacy Fund,. United Saint Saviours Trust and Wolfson Foundation and the Michael Tippett Foundation which both made a contribution to the Improvement Plan.
Docusign Envelope ID 2C54490B-2856-4A61.BDQ3-J60755F91 DDE ana A) Constitution The Charity is a charitable company limited by guarantee, incorporated on 4 February 1997, and was first registered as a charity on 26 February 1997. The Charity was established under a Memorandum of Association and is governed under its Articles of Association. The principal objects of the Charity are the advancement of education and the provision, in the interest of social welfare, of recreational and leisure facilities for the benefits of the inhabitants of Greater London and in particular inhabitants of Walworth and Newington in the London Borough of Southwark. B) Method of Appointment or Election of Board The Board is elected from the community to serve for a maximum period of six years. The Board membership is no less than three and not more than fifteen at any one time. C) Organisational Structure and Decision Making The Charity's governing body is the Board, which meets about six times a year and is responsible for the good governance of the Charity. The members of the Board are volunteers. The work of the Board is supported by two sub-committees: Risk and Audit and Human Resources and Safeguarding. The Chief Executive reports to the Chair of the Board and is responsible for the operational, day to day running of the Charity. The staff team that delivers the Charity's activities and projects report to the Chief Executive. Trustees meet intermittently with staff in the course of strategic working groups and committee work, providing specialist advice so that they can be involved and consulted on the development of the Charity.
Ocrwsign Envelope ID.. 2c9449OB-28564A61-BtKJ3-560755F91DDE The Charity has no issued share capital or debentures, hence there are no Trustee's interests requiring disclosure. The Board carries out an open recruitment process for any trustee vacancies. A recruitment panel consisting of two or three trustees, shortlists from the applications for the post, before inviting the candidates to visit the Garden and meet with the CEO. The recruitment panel then undertakes interviews with the shortlisted candidates, and selects those that they believe demonstrate the appropriate skills and fit for the charity. The new trustees are then voted on to the Board by a simple majority at the next ordinary Board meeting. Salary increases for key management personnel are recommended by the CEO and approved by the Board of Trustees where appropriate. Salary increases for the CEO are proposed by the Chair (in consultation with the HR advisor) and approved by the HR sub- committee. <*
Docusign Envelope ID. 2CQ44908_28564A61.B003_560755F91 DDE for EV Future Developments The achievement of full planning permission for our improvement plan along with achieving over 50.6 of our funding target. has put our ambitions on a realistic footing and staff are increasingly excited at the prospect of being able to facilitate learning for a broader audience across London. Our new strategic plan means we will be focussing our energies on affecting a wider audience in the coming years. This is likely to include offering our expertise to other groups, local authorities and landowners with staff leading training across London and beyond. Starting with neighbouring boroughs, Lambeth, Lewisham and Westminster, we hope to impact parcels of publicly and privately owned land in order to increase biodiversity levels. Our approach to marketing our offers will see a new, more mature approach, which we trust will bring the work we do into focus across the capital. Previous marketing approaches will be replaced with a more senior and strategic manifestation. Our focus on Level 2 horticultural training will be expanding to include Level l as a stepping stone for those who don't consider themselves ready to move straight into Level 2. Similarly, we will continue to seek out funding opportunities that allow us to target environmental learning opportunities on those who are traditionally excluded In preparing this report, the Board has taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006. This report was approved by the Board, on 13th December 2024 and signed on their behalf by: Kathryn Tomlinson, Chair
Docusign Envelope ID. 2C944906.28564A61_BD03_560755=91 DDE rr lyorth Ga4den ('t I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 March 2024. Responsibilities and basis of report As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examiner's statement Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 201 l Act. I confirm that l am qualified to undertake the examination because l am a member of ICAEW, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3, the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination; or 4. the accounts 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)].
Do¢uslgr) Envelopè ID.. 2C94490B-2856-4A81-8DD&560755F91 DDE Independent examlner's statement (contlnued) I have no concerns and have come across no other matters in connection with the examination to whlch attentlon should be drawn in this report In order to enable a proper understanding of the accounts to be reached, This report is made solely to the Company's Trustees, as a body, in accordance with Part 4 of the Charltles (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state tts the Company's Trustees those matters l am requlred to state to them In an Ir)depÈndent examiner's report and for no other purpose. To the fullest extent permltted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as a body, for my work or for thls report, Signed Robert Smlth ACA Dated. J 7 Griffin Stone Moscrop & Co Chartered Accountants
t)ocusign Envelope ID.. 2C9449OB-28564A61.6003-560755F91DDE i M i EivIEiw i vr riiwHIylNL I IV ITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Note Ineome from: Donations and legacies Charilcible activities Other trading activities Invesiment¢ Other income 100.000 77,600 3.783 400,610 3.084 55 103.783 478.210 126.623 372,985 2, 146 465 3,585 3.084 55 Total income 177.600 407.532 585.132 505.804 Expènditure on: Charitable activities 87.574 544.324 631.898 523,513 Total expenditure 87,574 544.324 631.898 523,513 Net movement in funds 90,026 (136.792) {46.7661 (17,709) Reeoneiliation of funds: Totoil funds broughl forward Nel movement In fijnds 15.139 90,026 194.681 (136.792) 209,820 (46.766) 227.529 {17. 709) Total funds carried forward 105,165 57,889 163.054 209,820 The Statement of financial actsvities Includes all gains and losses recognised in the year. The notes on pages 22 to 40 form part of the financial statements. 4JF*,. .
Docusign Envelope ID.- 2C9449OB-28564A61-BDO&560755F91DDE BALANCE SHEET AS AT MARCH 2024 2024 2023 Note Flxed ass•1s Tangible assets Inveslments 13 14 10.189 14,103 10.173 14,107 Curr•nt assets Deblors Cash al bank and in hand 15 182.219 57.800 233,453 34,629 240,019 268,082 Credrtors". due within one year 16 (87,138) (72,369) Net current ass•ts 152.881 195,713 Total n•t assets 163.054 209,820 Charlty fund5 Restricted funds Unrestricted funds 18 18 105.165 67.889 15,139 194,681 Total lunds 163.054 209,820 The Company was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees on 13th December 2024 and signed on their behalf, by: Kathryn Tomlinson, Chair
Docuswn Envelope ID.. 2C94490&28564A61_BDOM60755F91DDE CASHFLOW STATEMENT AS AT MARCH 2024 2024 2023 Cash flows from operating activiti•s Net cash used in operating actsvits'es 23.171 (49,901) Cash flows from Investlng actlvltl•s Net Cash provld•d by Inv•sting actlvlti•s Cash flows from financing activities Net cash provlded by flnanelng activlties Change In cash and cash equlvalents In th• year Cash and cash equivalents at the beginning of the Sear 23,171 (49.901) 84,530 34.629 Cash and cash •qulvalents at the •nd ol the year 57.800 34,629 The notes on pages 22 to 40 form part of the financial statements. 'jL
Docusign Envebpe ID.. 2C944908-2856-4A61-BD08-560755F91 DDE NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2024 1 . General informatlon Walworth Garden is a company Ilrnlted by guarantee (company number 03312510) and a reglstered charlty (charity number 1060863) In England and Wales. The reglstered offlce address Is 206 Manor Place, Walworth, London, SE17 3BN. 2, Accountlng pollcles 2.1 Basls of preparation of f inancial statements The financial statements have been prepared In accordance wlth the Charities SORP (FRS 102) -Accounting and Reporting by Charlties., Statement of Recommended Practlce appllcable to charlties preparlng thelr accounts In accordance wlth the Flnanclal Reportlng Standard appllcable In the UK and Republlc of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard appllcable In the UK and Republic of Ireland (FRS 102) and the Companles Act 2006. Walworth Garden meets the definitlon of a public beneflt entlty under FRS 102. Assets and liabilities are Inltially recognised at hlstorical cost or transaction value unle,ss ot'herwlse stated In the relevant accounting pollcy. 2,2 Income All income Is recognised once the Company has entitlement to the income, It Is probable that the Income wlll be received and the amount of Income recelvable can be measured rellably. Grants are Included In the Statement of flnancial actlvitiès on a recelvable basls, The balance of Income recelved fDr speclflc purposes but not expended during the perlod Is shown In the relevant funds on the Balance sheet, Where Income Is received In advance of entltlement of receipt, its recognltion is deferred and included In credltors as deferred Income. Where entiilement o¢curs béfore IiicomÈ18 recelved, the Income Is accrued, Income tax recoverable In relatlon to donatlons recelved under Glft Ald or deeds Df covenant Is recognlsed at the tlme of the donation. Other income is recognlsed In the perlod In whlch It IÈ recelvable and to the extent the goods have been provided or on completlon of the servlce.
Do¢u$kJn Envelope ID.. 2C94490B-28504A81-BD03-560755F91DDE NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2024 2. Accountlng pollcles (continued) 2.3 Expenditure Expendlture Is recognised once there is a legal or constructive obligatlon to transfer economic benefit to a thlrd party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the Dbligation can be measured reliably. Expenditure Is classifled by activity. The costs of each activity are made up of the total of dlrect costs and shared costs, including support costs involved in undertaking each activity. Direct costs attrlbutable to a slngle actlvity are allocated directly to that activlty. Shared costs which contribute to more than one attlvity and support costs which are not attrlbutable to a single activity are apportloned between those activities on a basis consistent wlth the use of resources. Central staff rosts are allocated on the basls of time spent, and depreciatlon charges allocated on the portion of the asset's use. Expenditure on charitable activlties Is Incurred on dlrectly undertaking the activlties whlch further the Company's objectlves, as well as any associated support costs. All expenditure Is incluslve of irrecoverable VAT. 2.4 Interèst recelvable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company,, thls Is normally upon notlfication of the interest pald or payable by the institutlon wlth whom the funds are depositèd, 2,5 Tanglble flxed assets and depreciatlon Tangible fixed assets costing £500 or more are capltalised and recognlspd when future economlc benefits are probable and the cost or value of the asset can be measured rellably. 'rangible fixed assets are initially recognised at cost, After recognition, under the cost model, tanglble fixed assets are measured at cost less accur(iulated depreciation and any accumulated impalrmènt losses, All costs Incurred to brlng a tangible flxed asset into Its intended working condltlon should be InL'luded in the measurement of cost. Depreciatlon is charged so as to allocate the cost of tangible fixed assets less their residual value aver their estimated useful lives, using the straight-llne method, Depreciation Is provlded on the following basis. Plant and ma¢hinery- 10% Fixtures and flttlngs- 20 /, Other fixed assets- 10°/ty
Docuslgn Envelope10.' 2C94490B-28564A61-BD03460755FgIDDE NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2024 2. Accounting pollcles (contlnued) 2.6 Investments Fixed asset investments are a form of financial instrument and are Inltially reeognised at their transaction cost and subsequently measured at falr value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less Impairment. Investment galns and losses, whether reall.8ed or unreallsed, are combined and presented as'Gains/(Losses) on Investments, in the Statement of Financial Activities. Investments In subsidiaries are valued at cost less provlsion for Impalrment, 2.7 Debtors Trade and other debtors are recognised at the se'ttlement amount after any trade discoLint offered. Prepayments are valued at the amount prepaid net of any trade dlscounts due. 2.8 Cash at bank and In hand Cash at bank and in hand Includes cash and short-term hlghly liquld Investments with a short maturfity of three months or less from the date of, acquisition or opening of the deposlt or slmilar account. 2.9 Llabllltles and provlsions Liabilities are recognlsed when there Is an obligation at the Balance Sheet date as a result of a past event, It is probable tha'l a transfer of economic beneflt wlll be requlred In settlement, and the amount of the settlement can be estlmated rellably. Llabilitles are recognlsed at the amount that the Company antlclpates It will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provlde. Provlsions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the tlme value of money Is material, the provision is based on the present value of those amounts, discounted at the pre-tax diseount rate that reflects the risks specific to the liabllity, The unwinding of the dlscount is recognised in the Statement of financlal activitles as a flnance cost.
DocUSrt Env81ope ID.. 2CS44goB.28564A81-BD03-560755FgIDDE NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2024 2. Accounting policies (contlnued) 2.10 Financial instruments The Company only has financial assets and financlal liabilities of a kind that qualify as basic financial instruments. Basic financial Instruments are initially recogni5ed at transaction value and subsequently measured at thelr settlement value with the exception of bank loans which are subsequently measured at amortised cost using the èffectlve Interest method. 2.11 Operating leases Rentals paid under operating leases are charged to the Statement of Financlal Actlvltles on a straightline basis over the lease term, 2,12 Pensions The Company operates a deflned contrlbution pension scheme and the penslon charge representg the amounts payable by the Company to the f und In respect of the year. 2.13 Fund a¢counting General fund5 are unrestricted funds which are avallable for use at the discretion of the Trustees in furtherance of the general objectlves of the Company and whlch have not been designated for other purposes. Designated funds comprlse unrestrlcted funds that have been set aslde by the Trustees for particular purposes, The aim and use of each designated fund is set out in the notes to Ihe financial statements. Restricted funds are funds which are to be usèd in accordance wlth specific restrlctions Imposed by donors or which have been ralsed by the Company for partlcular purposes, The costs of raising and admlnlstering such funds are charged agalnst the specific fund. The alm and use of each restricted fund is set out In the notes to the financial state,ments. Investment income, gains and losses are allocated to the appropriate fund.
DOcusn Envelope10.. 2C9449OB-28564A61-BD03-560755F91DDE NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2024 Income from donations and legacie8 Restricted Unrestricted funds fund8 2024 2024 Total funds 2024 DonatK)ns Grants 3,783 3,783 100,000 100.000 Total 2024 100,000 3,783 103,783 Restricted UnStriCted funds funds 2023 2023 Total funds DC8n3 Grants 3,672 3,672 122,951 122,951 Total 2023 122.951 -1,672 126,62.? Income from charitable activilie8 Restricied Unrestricted funds funds 2024 2024 Total fund$ 2024 Gardening Wofk Adult learning Honey sales Plant sales 77.600 242,256 156,755 59 1,540 319,856 156,755 59 1,540 Total 2024 77,600 400,610 478,210
t)ocu5yn Envelope ID.. 2C94490&28564A61_BD0&56075SF91DDE NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2024 Income from charitable a¢tivities (continued) Unrestricted runds Tolal lunds 2023 Gardening wo Adult learning 168.391 204, 594 168,391 204,594 Total 202.7 372,985 772,985 Income from other trading activitie8 Income from non charitable trading activitie8 Unrestricted funds 2024 Total fund8 2024 FundraIsl events and trade 3,084 3,084 Total 2024 3,084 3.084 UnrestrKted funds 2023 rotal lunds 202.1 Fundraisirwj events and trade 2,146 2, 146 Tolal 2023 2.146 2,146
DOcu8n Envek)pe ID.. 2C94490&28564A61-8D03-560755F91DDE NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2024 Investment income Unrestricted funds 2024 Total funds 2024 Bank Interest receNed 55 55 Total 2024 55 55 UnrestiKted Total funds 2023 2023 Bank interest received 465 465 Total 2027 465 465 Other Incomlng resources Total funds 2024 Total 2024 UnrestrKted funds 2023 Total funds 2023 Rental income 3,585 Total 2023 3,585 3,585
DocusvJn Envelope ID." 2C944908-28564A61.BD03-560755F91DDE NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2024 Analysis of expenditure on charitable activities Summory by fund type Restricted Unrestricted funds lunds 2024 2024 Total 2024 Gardening work Adutt Seaming Horticuftural therapy 41,378 43,196 3,000 451,632 80,033 12,6S9 493,010 123.229 15,659 Total 2024 87,574 544,324 631,898 RestrKted UnresfrFCted funds lunds 2023 2023 Totol 2023 Gardening work Adult leamin9 Horbcuttural therapy 105,040 43,061 9,110 234,719 131,583 339, 739 174,644 9,110 Tolal 2023 157,211 366,302 523,513 Analysis of expenditure by activities Activitie8 undert4Jken directty 2024 Support Costs 2024 Total funds 2024 Gardening work Adult leaming Hortscuttural therapy 191.370 84,817 12,659 301,640 38,412 3,000 493,010 123,229 15,659 Total 2024 288.846 343,052 631.898
Docusign Envelope10." 2C94490B-28564A61-BD03-560755F91DDE NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2024 Analysis of expenditure by activities (continued Actiwlffes undertaken dKectty 202.1 Support costs 202.1 Total funds 2023 Gardening wo Adult learning Ho.cUural therapy 1.75.115 174,644 9,110 204,644 339, 759 174,644 9,110 Total 2023 -718,869 204,644 52? 51.7 Analysi8 of support C08ts Total funds 2024 Total funds 2023 Wages and Salaries (incl. NIC and pen%on costs) Olher staff costs Subcontractor costs 198.862 11.284 18,943 15,080 4,735 339 11,000 2,886 134,301 8.178 20,409 11,498 4,117 960 4,061 4,012 98 PreMe$ costs oirice cosls Insurance Maintenance & equpment Legal and professional Depreu'ats'on Publi¢ity and Markebng Governance costs Bad debts 6,272 14,752 58,899 5.000 12,010 Total 2024 343,052 204,644
Docusign Envelope10: 2C944908-28564A81.B00&560755F91DDE NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2024 10. Independent examineV$ remuneration 2024 202.7 Fees payable to the ComnIS independent examiner for the independent exaniinaii'on of the Companls annual accounts 3,000 2,500 11. Staff costs 2024 2023 Wages and salaries Social security co8t3 ContributK)n to defined ¢ontribution pension schemes 330,393 43,348 10,158 324,.767 9.840 383.899 368,900 The average number of persons employed by the Company during the year was as follows: 2024 No. 2023 No. Admin staff QCF Training programme Gardening work Worf(shops Horts'cumural therapy Office cleaning 16 16 No employee ceiVed rernUneratn amountfftg lo more than £60,000 in ether ar. 12. Trustees. remuneration and expenses During the year. no Trustees received any remuneratr*n or other benefits (2023 - £NIL). During the year ended 31 March 2024, no Trustee expenses have been incurred12023 - £NIL).
Docusign Envetope ID.. 2C94490B-28564A61-BD03-560755F91DDE NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2024 13. Tangible fixed 893ets Plant and Fixtures and Other fixed machinery fittings assets Total Cost or valuation At 1 April 2023 19,866 59,240 47,063 126.169 At 31 March 2024 19.866 59,240 47,063 126,169 Depre¢lation At 1 April 2023 Charge for the star 12.076 1,986 52,927 1,948 47.063 112,066 3.934 At 31 March 2024 14,062 54,875 47,063 116,000 Net book value At 31 Marth 2024 5,804 4.365 10,169 At 31 March 2023 7. 790 14,103 14. Fixed assel inve$tmenlS Investments in subsidiary Companies Cost or valuation At 1 Apnl 2023 At 31 March 20?4 Net book value At 31 Marth 2024 At 31 March 2022
DDCU5ign Envebpe ID= 2C944908-28564A61-BD03-560755F9100E NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2024 Principal subsidiaries The following was a subsidiary undertakg of the Company. Name Company number Registered office or principal Principal activity place of busine88 Walworth Gorden Trading Ltd 12996467 206 Manor Place, London, England, SE17 3BN Sale of pIants Class of shares Holding Ordinary 100% The financial res ol the sth)sidiary for ts ar were: Name Income Expenditure ProfiV(Lo8s1 15urplusl IDefi¢ill for the year Nei 888et8 Watworth Garden Tradfftg Ltd 291,174 1293,0281 11.8541 159,556) 15. Debtors 2024 2023 Due withln one year Trade debtors Am04mt3 owed by group undertakings Olher debtor8 PrepasThents and accrued income 68.168 89,927 7,541 16,583 128,740 37,119 1.154 66,440 182.219 23.7 457
Docusign Envelope ID.. 2C94490B-28564A61-BD03-560755F91DDE NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2024 16. Creditors: Amounts falling due within one year 2024 2023 Trade creditors Other taxation and social security Olher creditors Accruals and delened in¢ome 39,412 975 1,842 44,909 21,228 29,415 1,121 20,605 87.138 72.-169 17. Financial instruments 2024 2023 Financial assets Financial assets measured at fair value Ihrough incmie and expendtture 57,800 34,629 Financial assets measured at fair value thn)ugh income and expenditure comprl$e cash at bank and in hand.
Docusign Envetope ID.. 2C94490B-28564A61Do3-SPA7755F91oDE NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2024 18. Statement of lunds Statement of funds - current year Balance at 31 March 2024 Balance at 1 April 2023 Transfers Inlout Incom• Expenditure Unrestricted funds Deslgnated funds Fixed Asset Fund 21,915 (11,7461 10.169 G•n•ral lunds General Funds 172.766 407.532 (544,324) 11.746 47,720 Total Unrestrlcted funds 194.681 407.532 1544,324} 57,889 R•stricted funds Durkan Finnis Scott Foundatson Elephant & Castle Community Hedley Foundation United St Saviours LBS CIL Improvement Fund LBS Legacy Dora Organic Michael Tippet Improvement Plan 38.300 2,300 10.000 1.000 3.000 12.000 10.000 1.000 (38.300) (1,896) 13,000) 404 7.000 1.000 (3.0001 (15.560) (5.121) 1516) 15,139 11.579 4,879 100.000 120,182) 79.818 15.139 177.600 (87,574) 100.165 Total of funds 209.820 585,132 (631,8981 163.054
Docusign Envek)pe ID.. 2C9449OB-2858-4A6fj-BD03-560755FgIDDE NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2024 18. Statement of Funds (continued) The deslgnated funds represent the fixed assets of the Charlty. These are consldered to be not easily realisable and In Ilne wlth the recommendations of the Charlties SORP (FRS 102) should not be matched by general reserves. The balance of the fund equals the net book value of the fixed assets carried forward. The restrlcted f und8 above can be summarlsod as follows: Durkan - enabled us to run a free accredlted Hortlcultural Tralning offered to disadvantaged residents of l.ondon. Flnnls Scott Foundation - fund to purchase tools and equlpment for Level 2 Students, Elephant & Councll Communlty - enabled us to facilltate the success of both Level 2 Students and those participating in Garden Therapy Hedley Foundatlon - f acilitated the success of several school vlsits. Unlted St Savlor8- funded Garden Therapy. LBS Community Infrastructure Levy Fund- f und towards the Improvement Plan (deslgn and consultatlon), LBS Legacy Fund- funded too15 and equlpment. Dora Organlc- funded support for organlc consumables. Micheal Tlppett Foundatlon - funding to support Improvement Plan
Doojsign Envelope ID.. 2C94490&28564A61_BDOW0755F91DDE NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2024 18. Stotement of funds Icontinued) Statement of funds - prior year 8alonce 81 31 Mor¢h 2023 8olance ot l Apnl 2022 Tronsfers uwout IncL¥Tre Expendrtwe Unre$trlcled funds De8ignated lunds Fixed Asset Fund 21,915 21,915 General funds General funds 165, 9.70 382,853 (366, 902) (9,1151 172.766 Total Unrestricted funds 187,245 382,853 {366,302J (9,115) 194,681 Restricted funds Walcot Foundation Amold Clark Community Fund Elephant & C¢)uncil Community Gowk'ng Kick_start ILambeth) Kusuma Trust LBS Improvement Fund Mental Health FoundatK+n Natural History Museum Neighbourhood Fund LBS Royal Horticuliural Society 7,4.72 35,000 (71,547) (1,000) (14, 14n (6, 522J (8,692J (16,-105) (18.Ll)O) (762) (.? 723) (6, 150) (10, 763) 9,115 4.147 1,522 2,181 10.000 6.511 12,500 18,000 490 15,139 272 1,223 1,7(X) 2,863 15,139 2,500 4.450 40,284 122,951 (157,211J 9.115 15,139 Total of fund8 227,529 505,804 (523,513) 209,820
Docusign Envelope ID.. 2C94490B-28564A61-BtK13-560755F91DDE NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2024 19. Summary of funds Summary of lunds - curreni year Balance at 31 March 2024 Balance at 1 April 2023 Transfer8 inlout Income Expenditure Designated funds General funds Restricted ndS 21,915 172.766 15,139 111,7461 11.746 10,169 47,720 105,165 407.532 177,600 1544,324) 187.574) 209,820 585.132 1631,8981 163,054 Summary of funds - prlor year 8olonce 8t 31 March 2023 Balance ot l 2022 Transfers IoIrt In¢(yne Expenditure Degnated furw#s General fund$ Restricted funds 21,915 165, 1.10 40,284 21,915 172, 766 15,139 -782,853 122,951 (366..702) (157,211) (9, 115) 9.115 227,529 505,804 (523,513) 209,820 20. Analysis of net assels between fund3 Analysis of net assets between funds - current period Re8tricled Unre8tri¢ttd funds funds 2024 2024 Total lunds 2024 Tangle fixed assets Fixed asset investrnents Current assels CdIrts due within one year 10,169 10,169 105,165 134,854 (87,1381 240,019 187,138) Total IOS.16S 57,889 163.054
Docllsign Envelope10'. 2C94490&28584A61-BD03-560755F91DDE NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2024 20. Analysi8 of net assets belween funds Icontinued} Analy818 of net assets between funds - prior period Restricted Unresth'cted funds runds 2023 2023 Totol lunds 202.1 Tanglble fixed assets Fixed asset investnienls 14,103 14,103 Current assets 15,139 252,943 (72.369) 268,082 172.369) Crtors due within one year Total 15, 1.19 194,681 209,820 21. Reconcilialion of net movement in tunds to net cash flow from operating acts'vtties 2024 2023 Net expendrture for the peiiod (as per Statement of Financial Actr4ities) {46.766) (17.709) Adjustments for: Deecia.0n charges Decreasel(Increasel In debt3 Increase in credrtors 3.934 51,234 14.769 4,012 (99,079) 62,875 Net cash provided byllused in) operating activities 23,171 (49,901) 22. Analysts ol cash and cash equlvalents 2024 2023 Cash in hand 57,800 34,629 Total cash and cash equivalenl$ 57,800 -?4,629
Docu$ Envekjpe ID.. 2C944908-28564A61-BD03-560755F910DE NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2024 23. Analysis of ¢hanges In net debt At l April 2023 Cash flows At 31 March 2024 Cash at ftk and in hand 34,629 23,171 57,800 34,629 23,171 57,800 24. Pension commltments The charrty operdtes a defined contTiLNJtion penston scheme. The assets of the scheme are held sepurately from th03e of the Charty in an iNJependentsy adminBtered fund. The penson cost charge represents contn'bubons payable by the group to the fijnd aMInted lo £10,158 12023 - £9.840). contri1t>ns iotalling £1,842 (2023 - £1.062) were payable to fund at Ihe balance sheet date and are Included in creditors. 25. Operatlng lease commltments At 31 Marth 20?4 the Company had commrtments to make fubjre minimum lease panents under non- canceltable operatsng teases as follows: 2024 2023 Not later than 1 8T Later than l Jear and not later than 5 years 14,561 32,117 8,280 46,678 8,280 26. Relaled party transactions Gift aid don4bMg of ÈNil (20?3 £Nill were received from WaNvcth Garden Trading Ltd duriThJ the financial year. AddilKtnally income 01 £292,455 (2023 £315,955) was generated by plant and knney sales, landscaping services. management charges and administration charges to Walworth Garden Trading Ltd. There were no other related paty transactKffis kn the year.