RegISler￿ Company P40.. 04040674 IEngland and Wales) Registered Charity No.. 1085454 REPORT OF THETRusfÈES AND ACCOUNTS FOR THE YEAR ENDED 3t MARCH 2024 FOR BANKSIDE OPEN SPACES TRusr MHA MHA House Charter Court, Swansea Enterprise Park. Swansea, SA7 9FS BANKSIDE OPEN SPACES TRUST (REGISTERED NUMBER: 040406741 YEAR ENDED 31 MARCH 2024 CONTEIITS OF THE HNANCIAL STATEMENTS PagE Reference and admlnlstrative detalls Tru6tees' Report 2- 11 Independent Audltor's Report 12-15 Con501idated Statement of Finan¢ial A¢tivitÉe$ 16 ConsolldatEd Balance Sheet Consolidated Statemerbt of Ca$h Flows 18 Notes to the Financlal Statements 19-33 BANKSIDE OPEN SPACE5 TRUST (REGISTERED NLIMBER.. 0404Q6741 YEAR ENDED 31 MARCH 2024 REFERENCE AND ADMINISTRATIVÉ DETAILS Cornpany number 04040674 Chartty number 1085454 Registered office Red Cross Garde 50 Redcross Way London SE1 1HA Dlrectors l Trustees rimolhy Wood- Chalr Karen Atkinson Jessic8 B&atlie Pauline Buchanan 818ck Sharon Daty- appointed 12 February 2024 Marilyn Eveis Alexander Gasmena Jean Mcmeaki Sebastian Kalmar- appThnled 11 Jun8 2024 Deborah Nagan Saurabh Choudhary- Resigned 24 M8y 2023 Key management persortnel Charlotte Gilsenan- CEO Nico18 Desmond- Head of Living spa￿ and Operations William R811ison- Head of Parks and Communities Jack Harrison- He8d of Sport & Developrne￿t MHA MHA House Charter Couri Swansea Enterprise Park Swansea SA7 9FS Independent Aud¢tor8 Unity Trust 8ank pl¢ Nine 8rindleypla¢e 4 Oozells Square Bimingham Bankers B12HB Page I BANKSIDE QPEN SPACE5 TRUST (REGISTERED NUM8ER.. 04040674 YRUSTEES, REPORT YEAR ENC¢ED 31 MARCH 2024 Welcomè Our parks and gèrdens are wtal lor the heallh of our community, a community bthere 100Yo of household5 are calegorised as b&ing open spa(* d&ficil. According lo Public AÈ<h Engl&tid, access lo green spar& is Js50Gialedwilh bétlerhealtlT oulcomes. and inGome-olated hpatth inequalrty is less pronounced where people have 8cce5s lo green space. This is why we pride ourselves on ensuring the thousands of peoth who visit 8ach year enjoy spa￿5 thal are beautiful, wèll tared for and wldlife f￿endly. Ill 2023124. we maintsined our 4 Green Flag Awards for park exGellence and gained 8rilain in Blo)m and 11,5 Your Neightouthooj awards from the RHS. We also work lo improve our Spac￿ and boost access. A key focus is currently our major capital project at Marfbortsugh Sport5 Garden the final phase of site redevelopment shaped by consullalions with the comtnunily. This ye8r. we were successful in securing pledges from Garfield Weston Foundation, the Kusuma Trusi, and the London Marathon FoJnéabon. Another major success was securing £379,720 fiJnding overfive years from the Cty BTrdge Foundakn'on to support our volunteer gardening and Green Hub prcor8mme- encouraging more people to stay aciive and connected tt)rough gardening. In 2023124, our freÈ community evènts ctjntintted lo engage people in our spaces and showcase the very besi of our lool area. Our annual Bankside Open Spaces Festival In June 2023 had over 20,000 visitors. Last bul ceriainly not least. we're 18ying the foundations for èn expansion of our award-winning Future Gardeners emtyoyaknlily progr8mme a¢ross Lonéon and beyond. Our frep programme is designed lo combat the skills shortage and lack of diversty within the horticultur81 industry. Over 75% olthos8 completing Fu1U￿ G8rd8n8rs go inlo 8mployment 8nd furth&r8duc81ion in horticullur6. This year, we successfully comple18d our first course al the Queen Elizabeth Olympic Park. m Wood, Ch21r, and Charlottè Gllsenan, Chlef Ex¢cutive Offlc¢r Page 2 BANKSIDE OPEN SPACES TRusf IREGISTERED NUMBER.. 040406741 TRUSTEES, REPORT YEAR ENDED 31 MARCH 2024 The Iru*ees, who are also direclors of Ihe charity for Ihfy purposes Df the Cornpanies Act. prÈs8nl iheSr annual report and tlnancial staiefflerF15 forlhe yearended 31 biarGh 2024. The financial staletnenls have been prepared in acciirdance with the accuunling policies setoul in the notes lo the finanual s*alernenls and comply wilh Ihe charity's governing documenl the Chaniies Atl 2011 8nd "Accounting and Reportin9 by Charibes.. Slalefflenl ofRecomMenUed Praclice applicdble lo charibes preparing their accounts in accofdancewith the Financial Reporting StandarLI applicable in the UKaftd Republic ol I[ela￿d IFRS 1021 leffecbve 1 January 20191". The report is alSD prepared in accord￿Ce ￿¢￿ Ihe srnall rompany iegime Isethon 419121 of the Companies Act 20061. Structure. governance and management GovÈrnitky Do¢ument The charity 15 a limited company, limited by guarantee, a8 defin8d by the CompaniesAct 2CM)6. This documenl Was re¥￿￿ed and updatsd on 9 tjecwnber 2023 to rellect rnore accuralely what Ihe organisalion does in practsce and to ensure that trusieesldireciors afe appotnted in a more open and iransp8rentway, encouraging inclusion. equality and diversity. Subsidiary Company Bankside Open Spaces Trading Limited. company number 08096770. was Sel up in order Io carry oul cornTnercial improvements lo patk5 and garden5. The re5uliS of Ihe subsidiary are included in the consolid818d accounts of tlie thaity. ReGruitment and Appointment of Tr%Jstees TTUSlees arÈ appoinled by existing metnbets of the Board in furiherance of the objects of the T￿sl in 8 number of ways, inGluding personal recommendation and Jse of voluniary organi5ations. Trustees are appoin18d 10 Ihe Board via a thorough ￿¢rui￿ant process including advertising on Irvstee and volunteering sites and c>n Linkedln and other social media plalforms Prospeclive Injslees are Inierwiewed by key Iwstees inctuding Ihe Chair an¢f by the CEO. Inductlon and Ttalnlng of NewTrustees New Trusi8Ès receive training and induction through a veriety of means, Including one 10 one session5. wilh the Chairman, Treasurer other Trusleeslslaff as 3ppropri31e. bping supplied wlh teleyani reading rnalerials. briefing dowments and guidance 8s well 85 regul8rbriefing5. Skills shortages on the Board are akso kept under rA)nst8nl review8nd ￿trUItmen1 of new TTU51ees 15 tsrgeled accofdirvJly. and il was encouragiry lo note Ihal Ihe Board is Ylell represented by Tru51ee5 with 8 wde range of skills Encompassing IhÈ majority of skils wuired ltr govem Ilie charily. Qrganisalional stru￿Ure The Iru51ees generally hold quarterly rneelings at which decisions on 51ralegy, policy and WaC11c& are made. The day-to4ay wnning of Ihe ¢harily is delegale(I to the CEO wilh the Head af Operations 3nd Liwng Space responsible foroperatioTFal management. Oversight ol the Marlborough Sports Garden isdelegated to Ihe Head of Sport and Development and office man8gement is delegated lo the Office supervisor an(J Administrator. A register ol Trustee interests is manlained al ihe Office 80d is avaikble lo the pu￿1¢ for review Risk Man#gernent In tompliance ￿1￿ thÈ SORP, the rnalor dsks its which the CharKy 15 8xposed, as identsfied by TFuslees. have been rÈviewed and sysletns have been established lo manage thosè risks. These are reviÈwett al ihe quarterfy Board Meetings. Reserves Policy rhe Trust m8inlains r&stricted, deslgnated and unreslricled reserves. Tha restricted f85erves comprise a numb&r of individuai reseNes for particu18r projects. those funded from external reslricled purpose gr&nts. Page 3 BANKSIDE OPEN SPACES TRUST (REGISTERED NUMBER.. 040406741 TRUSTEES. REPORT YEAR ENDED 31 MARCH 2024 Thèse ftsnds are nng4enced. and no conlribub.on is l&en lowards operational costs, except where Ihis is allowed by the donor. The group's unreslricled reserye balance is £385,290 al the year end. Thi5 baL4nce inGlude5 £100.000 relating to deswJnaied fund5 to be Spent on 5pecifrc projects. ThE designated funds 8re shown wthin note 22 of the accounis and are monitored for ch8nges ai quarterfy Boart meeiings. UrKestricled funLts wrich are not spe¢rficallydesignaled. known as free reserves. a￿ set 8sbYe lo coverfvlu OPW21ional costs. The tru51ee5' tsrgel is lo hold between 3 monihs salariès and basicovetheads, and 3 months oPera￿'n9 ￿$1$. This target amounis lo £215.135 - E293.059. Th8 8clual free TeseN8s a5 al the balance 5heel date iotalléd £285.29012022123.. £309,8891. Going Concorn The Board continue5 to mainlain a reviewof Ihe charity's going concern basis. Anolher yearwilh 8 posilive nel movement in fun(f5 alongside a strong cash and nel asset position h2$ led lo a strÉnglhening the balance sheei position. The Trustees aPp￿￿ate the various extsrn81 and ini8mal factors ll)at prov8 a risk 10 going mncem. NotY4ith$￿md1ng thesp though. the Iruslees h8ve assessed ih81 the charity is a going t￿tem, 8nd the fin8r¢i81 siaiemenis have been wepared on Ihal basis. OUR PURPOSE AND ACTIVITIES char5taI￿¢ Purpose To promola for Ihe public ts￿efit Ihe cmseFvalioTr. protection and imprcvemenl of the built and n3tural environmenl, and in sodojng to a150 advarFce pliysral and menlal health. edu￿￿'0Th opporfunilie5and cornmunity development, in 8re8s of hiyh u￿an den$ily throughout En9land and Wales. Mls$ion Statement Bankside Open Sp8ce8 Tmsi's MIS￿0￿ Is to" Tran5forni Open Sp8ces Empower and Engage Local Communiiies Enhance Hèalth and Wellbeing Chatnwoii Sustainability Enhan¢lng Health and Wpllbelng Communi Gardpnin 2023124 highlights: B Tilain ia Bloom Category WirsneT- Urban Community Four London in Awards. including gold lor Red Crt)ss Garden and TalÈ Comffttrnity Garden Four Gtsgrt Flag Awards We.. Maintained 16 open spaces Planted 7 trees, 100 hedging ￿8￿15. 505 shrubslherbaceou5 planis and 2,000 bulb5 ainiained 5 uriEdlife ponds Created 3 IDg piles 3 dead hedges for wildlile Maintained I rain garden Parks and Garden5 Wtr prtrtectand itnprove existing Ipen spaces and Oevelop. design and cre8te new ones. incre8sng acceswbility fDr all. In 2023124 we continued io manage a 10181 of 16 spacE8. huldins IhE lease lor six sites ac105s Southwark aTrd Larnbelh and held contracts wlli Tale bAodem, English Heritage for Winchesler Palace and Soulhwark auntil. Page 4 BANKSIDE OPEN SPACES TRUST IREGISTERED NUMBER.. 040406741 TRUSTEES, REPORT YEAR ENDED 31 MARCH 2024 All ourgardening and lanogcaping projecis are built around th& torè principle ofcommuniiy engagement thrDugh consullÉkn"on 2nd voltsnleèring. This year w8 worked wrth, 2mong Oihers. Ihose who ha¥% expèrienced homelessness, people with meni81 health needs. cAder people experienang i8018tion, lotAI reshlenis of Ell ages and lotsal business workers. We tnake space for wildlife in the heart Df Londan by maintaining and creaiing habiials like109 pile5. pond5 and native hedgps. This year we mainiÈined five wildlife pond5, created three ltrg pilES and three dea(1 hed9es lor wildlife. Btnkside Open Spaces Trust works to reduce our Impact on the envirtrnmenl by g8rdening wilhovl chernials, thoosing drought resisianl P￿TrI$ and using peat free composi. We now h8V8 Ihree zero green ¥wasle 5ite5 (Red Cross Garden, Tale Community Garden and Waierloo Millennium Greenl. Community Involvement and VDlu#teerfng In 2023124 we worked with go community gardening vdunieers 17 micro volunteers Ilhose attending smal onfroff sessionsl 42 Cr05sbones Waidens We hosted 312 community gÈrdening sessi(Jns in 2023124 Our Cammunity Gardening Volunteers ¢oniributed 4,826 hours 10 keeping our p8rf<5 looking beaubful ror Ihe local cornmunity. Volunteer Crossbones Wardens enabled us lo open the sile lor six hwrs eath week. welcorning Ihe publi¢ 10 special unique CrDssbones Gtsveyard. We are extremely gotÈful for the lime and energy our vtrlunieets deditsie 10 improving. mainl8ining and showca*ng our padts and 9ardens. helping deliverour events. aciing as trustees and supporting ourwiderwork. We aim 10 recruil vcAunieers Irom a div8*se range of backgrourtds th81 represeni oJr Iw81 comrnunily. Working in partnership with IhÈ ¥D￿n￿ry and communlty sector, enablÈ8 Us io effectively recruit aod support people y￿1￿ reaming difficulties, Ihtsse in recovery from physical 2nd mental health conditions, those ai risk of homelessness Our Oulrtach work èlso leeds into our v(Aunleering sessions. By iaking relerols from exiefn81 or98nisaliofts, w8 also prov￿& work experience opportunibes for Sludenis wilh Special EduGalion81 Needs and DIsab￿litieS ISENDI who are on supported internship prografflmes. and slvdenls who 8re working Iixvards oualili¢8uons in hort5cullur&. We gaiher feedb8ck from ourvolunieers. and this revealed Ihal, alLin9side 8 senss of personal athievernÈnl the mosi eniDyabl8 aspeets of volunieering were around building relalion8hips wth clhers and the p05ilive m8nLal and physi¢al impÈ¢ts ofbeing Ouldoors. 65% of volunteers reported feeling proud of the work they have done tnd 88% Fdl more connected lo fhe local comFnunily. 70% of our volunteers felt more appreciated and Expressed how this came directly from Ilieir conlnbuuons lo working within the garden5 74% fell Ihal Iheirv(Aunieering had an Imp8cI on ihe local c¢NMmunity. .1 love volunteering with BOST. rf Is something I look fo￿2￿￿ lo from week lo we8k. I love fflosl Ivalching Ihe g8rclen chenge over Ihe seasons seeing the Woffk you [bve] do sh3pe il I like being able to complete 8 lask andsee Ihe resull- this can be rare in Ihe ￿$1 ollife. Jesse. Tuesday Volunteèr. March 2Q24 "Spgnding a couple of hours outdot)rs is 5u¢h 3 greal way lo slart Ihe weekend and leels such 8 gre8F conlnbution lo Ibe communily.'_ Saiurday Volunteer. March 2024 "It's notiust the comrsdery of being 8rotrnd other volunleers and lJ(ernindedpeople kiul tieing 10 see how lin m8king 8 resl diller￿Ce lo Ihe coJnmtsnky."_ Jim. Monday v0￿JnIEer. 2024 Page S BANKSIDE OPEN SPACES TRUST IRÉGisfERED NUMBER= 040406741 TRUSTEE5' REPOR T YEAR ENDED 31 MARCH 2024 Community o￿treaCh and Engag•rn•nt Our Communlly Engagefflenl wark locuses cn three kpy areas. Ouireacli, Eng8gemeril ano RecruilmenL This year we slrenglhened our retalionsliip with Charit￿S and indiwdu31s from m2rglnalise(J and minority commu￿tieS and those managino disaknlity by Greatin9 and delivering micro volunieering 8essions. ThE se5￿0￿5 were designed lo pncourage these groups to participate in gardening activities. building the skills and confidenGe needed to volunleer again in the future. We faund fhat marTy P8ttitipanlS expressed an interest gaining for employment and o ¢Jesire to conned svith afKI Ihe community. We aim lo focililale Ihis by offÈring more g2rdening opp(rtunities. and by using what have lèam8d from this experience lo make our wepkly cDmmunity vdunteering sessions more acce55ible. We improved our offer foi individuals managlng 8 dlssbilily by buwn9 8dapled tools and buiEding higher p13nling beds foi ease of aceess. We are 2180 plannin9 micrtrvulunleering sessions wilh a Spe￿alIStA￿liS￿C sp￿tr￿n7 olsord8rsch0￿. Dwmbeat Colleg8, and the Waiertoo CThnmunrty Couns8Ning Multi*trnic Counselling Setvice. Corporgte Voluntèers In 2023124, we devalop8d new Voluntee￿ng relatlonships wllh Kn￿h1 Frdnk, 88ker mCKe￿Z￿. Allianx, Ralph Lauren, Mace Group, Omnicom Media Group, Ntrrton Rose Fulbrighl and L8wis Silkin. Of the c(APCrf8te groups who volunleer8d with us this year.. 97% staled Ihai ac11vi￿e$ helped develop them as a slron9er team 87trA Idt rmre Posi￿ve ltrwartjs iheir employtrr go'h hèd an imprtrved understanding of issues facing the Community 97% have irnproved appreciation of the IoGal environtnenl. 100% had fun and enjoyed Ihemselves "A fvn efternoon for such 8 worthwhtle ceuse. Thoroughly enjoyed rf and would cert&nly volLtnt88r again.. 'The stam byefe fantastic. and we reJlly feel Ehal we samelhing useful irt Ihtr wonderful G811eNall N8lure Resefftrr 'The Bosfvoluffleering program w8$ 8 wanderftslexp8r￿nCe. Our team wasreally injpressed ￿th Ihè 0[￿nISatIon orlhe &vÈnt. We rtally&nJoyed h8vlng the opportunity to give back to ourwmrNpuniiy andGènY Ihank 8OSTertOts9h lorlacililèting ourday out." 'The w*Yk Ih81 the Bosfie8m undertekes is ofimM8asu￿ble benefil to Ihe comnJL¢nitres theysetve. Allh8ve d&monstraled a woalth ollocal kt70wledge, 8re Infect￿￿$￿ enlhusi8sIK and exlr8mgly welcoming- look fO￿tr￿ 10 vlorking Mlh ih&m Nurth&￿' Yheie's no betterc&181yst forvolurtleerwoik th8n people who ere passionale 8bDutlhe la5kath8rtd. 80ST h&s Ih81. 8ndil make$ Ihe tryhtrle experience $peci81." Marlboro h S ort$ Garden Marfborough Sports Garden IMSGI is a rarè public open space serving a dlweT88 communiiy. 40% of MSGS IGcal pwulation is from elhnic minority bèGkyr0￿ftd$ who ar8 more likely lo face chJllpnge$ in lakion to heafth. we11b￿ng8￿d hfe-than¢&s. Though high quality Ireelafford8ble coached 5POrt5 aclimties. we aim lo baosl the health and wellbeing of our community particulady Y105e who would benefit most. 5urh a$ thikjren and young people from low-incofpe hou5ehokls andlor ￿th additional needs. Local child poverty rates are high143%1 and the cost-of-￿VIng crisis continues to hit hard. Deprivation and obesily are linked and 3B% of local children are ovenveigl?l or obese at Year fj. To reach Ihese groups, we partner willi local org8nEalions lo offer free aftètschod coachin9. holiday mullisport camps and week￿￿ activities. These are Part-￿nded through income gÈneralÉd by pitch hires fri)m Qlganised leagues. In 2023124. we had 272 r&gisiered participants for our free afters¢hod session5. thich ran for five days perweek dunng term lim8 for children 8ged 4 - 11. Following consullalioD5 wlh partiGipanlS and iheir families on wh81 they WOLJld like 10 do, we were able 10 offer sessions deliyereu by qualifieo coaches in Boxing, B&ach Page 6 BANKSIDE OPEN SPACE5 TRUST IREGISTERED NUMBER.. 040406741 TRUSTEES. REPORT YEAR ENDED 31 MARCH 2024 T8nThs, B8ach Volleyball. CridEel, DDdgeb811, Foolb811 Iwlh Samba Soccer Schools 8nd Wildcats Girf5' Foulballl, Roller-skaling to Music. Street Dance, Touch Rugby and Wall 8811. Dullng Ihe schod holidays we run affordab￿ Mul￿-Sports camps and allocaie al least 40 free places ppr camp to children from IDW-IncomÈ f2milies who might Othe￿WSe struggle to auend, places are nominated by loo sthool5. This year our holiday camps wÈre run by ciYaGhes (rorn Regan's Soccer School. We welcomed 132 registered parilt1p8n￿ across the year for our fr￿ places. 54% of the participants were girls. We w8r& also able lo ensure 19 children ￿1h SEND 18pe¢ial educational fteeds andlor disabiliU8s1 could partiupale by funding leaching as%s18nls from Ihrfre local schools lo aiiend and support the children. Mosl SENO allendees had 3ulism spectrum disorder IASDI, one had a visual impairmeftl. and une h8d a mental heatth conditson. To fvrther ourwork w41h chik1ren Wlh SEND, we ran o pllot SENO sporis programm8 benef￿l￿ng 18 neurtyjiverse chik1ren from two 2 Itxal schools. Throughouithe ye8r, an aver8ge of44 children and young people ltsok partin week￿weekend football ¢oa¢hlng. We contsnued lo make space for Ioc81 schools to njn sports 8Ciiwl&s such as PE lesson5. extra•curritular PE. sports days and end-of-lenn a￿l¥ll1t$. This heWs us build strong relatson5hips *ith our local School, enabling us 10 work harder Ici reach tsmili8s to ent￿ra￿t mor& young peeple to partripale in outdoor ?cliviti$S th8t mighl benefit Iheir health and wellb81ng. Empowertn9 and Engaglng Local Communttles Green Hub Over th8 ctyJr&e of its second year, oui Grgen Hub has continued lo support 18 dilferent residenl-led g￿en projecis acr08S th8 Borough. Bankside and Soulh Bermondsey areas. working I￿81 e51aies-based commuruty gardening and I￿￿￿roWn9 projetis. small patks, n8ture reserves and sireel planting. Through Green Hub we offered a wlde range c15UPPOrt and guid8nce. induding horticullural advice and Iraininy, planning. help ¥vilh funding applIca￿On$, worksho￿, acguisibon lof lools. maleri81s. plants elc.) and assisiaTrce from 80ST's volunt8er workforc8 This has led io.. The planting of 206 new plants and 728 bulb5 acn)s$ 11 (kfferent projetts in ourcommuniiy. 34 new tods PTovlded lo Green Hub partiapants. 7 new r*sed beds, 3 sheds, 2 new po]ytunnels and 8 3.OOOL ra1￿CaPtVre 5ysletn. The in5talktion of 6 new composters. 32 group gardening seswoTrs and Gree￿ Hub woikshops attended by a total of 129 local residents. Green Hub has olso overseen cornplelion ofdevelopmenl woths lo 8OST's flagship c￿M￿nitY 9arden. Divetsity Garden, funded by the Elephanl and Ca511e Cornmunily Fund We rebuill the garden's Iwo central pergolas and repaired and refreshed Iwo 1815ed beds. Thanks ta Ihe watks, Ihe garden now also bo¥sis a Ihree-lieTed mpostsng systern thich processes IOOPk of the garden's gFeen wasle on-site. ag VRII as Ihe w2s1e gEn8ralod by neighbouring projects on Library Street and 8t Gibbings House. Loca resitsenls art to composl food waste from Iheir kitchens ai home loo. Green Hub feedback.. Pltrnlin9 al￿nurturing IhÈ gar(rfsn bniughl Ihe blL)ck logetherandchawd ourlives. The children have ltramod $0 much Ihtough being 8partofll and Ihe adtsifslove the se8s0n81ch8nges. N isbe8ulrful. A rnakpspeoplE slop ndch8t8nd ffl8kes us happy.. Karèn, Cr05by Row 'Il is joyfulto bé part ofa group oflikerFJindei¢psoplg, lospend$omo fimo in Ihe fresh 8iranLI do Soffnglhing good fforlhp cofflmunity." Julia. Copp9rfiEld Corntnunity Garden 'ljust w8nl to say Ihankyou forrnaking thatple￿ of waste groundjnLibr8rySt￿eIIQ0k ￿ prelly. The mea(low llower5 are brealhtaking... Ils much 3ppreci3fed and ￿ellY rnakes 8 difference lo thÈ &re8 &rtd l elweys sland by and admire il.. Deborth, loc& re5idenl Page 7 BANKSIDE OPEN SPACES TRUST (REGISTERED NUMBER.. 040406741 TRUSTEES, REPORT YEAR ENDED 31 MARCH 2024 Of I￿se responded lo our Green Hub suThey.' 93.3% fell that paricipabng in Green Plub had madÈ Ihem fed'closer 10 or a pan of their comrnunity., 95% fell Ih81 ihere had been noiiceable improvÈmeni$ 10 Iheir area. reporting ￿al eiiher Iheir'green spaces ale more w8lcoming and aiir8Clive', Ihal'mtye people were gelbng outooors and enjos4n9 green spaces.. thai there was'more wildlife, andl or'le$$ antisocial behaV￿￿r.. FLrture Gardeners Future Gardeners is our free City and Guilds 8ccrediled horticuliure course 8imed al Ih05e who are lon*i¢rm un&mployed. or who wani 10 make a career change bul are Struggling to access lurther educaiion or Iraining. This year. we were delighleLI lo have se¢uEd new mulli-yEar support for the yogr3mrne ihrough a three year g￿nt to1811ing £113,800 Irthm The Henry Smith Charily. D￿ring 2023124, 43 S￿dents parbeipaled in Dur 8 ' year of Fulure Gardeneis. 93% gr8dualed from the programme and of those that gpdualed 73% are now in employment or further training. Jobs have included Roy81 Botanical GÉrdÈns. Kew. Wimbledon Tennis. Clanon Housing. Fr09n￿ Gardens, idverde. The National Twsl, Fulham Palace, Wilder. The Cul FIoJ5Jng Associ81iN and Willerfoy L3ndscapes. Future Garden8ts Is designed lo be an Inclu51¥e prOgraM￿e. and we rely on referrals trom several oYg8nisalion5 including Thame5reach, Peabody, Loughborough FaTrn. Urt)an Growlh. Roots lo Work. Single Homeless Proletl, Grèen Skills Cotnmunily HULI. Job Centre Plus. Sullon Cornmunily Farm, Ped(haTn Job Fair, Fresh Morticultural Careets. Thrive & Wafworth Garden. otlhe students recruiled lo our t￿ee rounds of Future GardBners in 2023124". 58% were female 42% were male $3% were from an ethnic minority background 63% had a disaknllly or long-ierm heallh ￿r￿l￿on Future Gardeners 1)JJeen Elizabeth Olyrnpic Park During ihe summer of 2023, we launched a pilol Futu￿ Gardeners programme ba$8d in Queen Elizabethi Olympic P8tk IQEOPI, run in partnership wlh the London Leg8Gy Developmeni Corwalion ILLOCI. Build Easi Skills Centre and ￿ver￿e. This progr?rnrne coTnpri5ed of a Level 1 Ciiy and Guilds Award Qualification delivered by ￿Verde based ai their training depot in QEOP. The students al$0 completed 8 weeklong ConsI￿¢t￿On Skills Certifi¢alion Scherne in pbrtneryhlp wilh Build East Skills Centre. I students compleied a Iwo-week work placem8nl in QEOP wlh hjverde and the sluLSenl$ visited Tree Musketeer5. a commurHly Iree nuTsery, an(f the Sky Gardens in central London. ThEfÈ vlere employability worfsting our community's health and wellbwng, 98.kn s81d the festival had changed their mood tor Ihe beiiÈr. Many of those HskÈd eXp￿sEd how go￿1 BOSF8sl was and asked for rnore events Ilke il vne reswndenl added.'Love it, caffie Igstyearartd ¢ouklnoi v481t lorlod8y." Luckily for COmFllUnity tnernbers asking for more, we also hosted a free Halloween event for famih'es our restive cplebFaiion ffte Winler Wamer. Both wer? overwhelmingty w811 attended anit 9Falelully received. Roynding up our year of free events was our Easler Hunt- where sround 300 children explortd Red Cross Garden for Easter Glues and then enjoyed treats and play in Martborough Sports Garden. Thanks to 8 costume (k)nÈted frorn a loc& business. Ihtr Ghildr&n enjoyed 8 I4SIt from our Easter Bunny. We eniertained an e81imaed 20.500 people With ow events thi5 year. welcomlng pÈople Into our open spaces and showcasing aclmties lo support Iheir heallh and enhance Iheir quality of life. Tr8n8fo¥mlng Open Spaces 80STv40rks to prtrleciand imptove the lo&ol green space neMork in Bank5ideand $urroundino8reas lo mitigate the shortage of. and lack of access lo, parks and gardens experienced by residen15 and WI￿10￿. In 2023124, we (*nbnued lo l￿d[al$e for our Capial project al M8r*)oroLyh sp￿15 Garden. which we ￿an io trartsform into a Gotnfflunity hub w*th fitness and wellbeing al it8 heart. We also faciWiat8d cwnrnJnity consultations for Ihe enhancemeni of Crossbones Gr8vey8rd. The garden'$ transfofrnaWon is ¢Jue lo lake place In line adjacent building pr4eci Ihe Llberty of Soulhw3rk. The developer Landsec were granted pl8nTring perFnis5toTr in 2024. fo improve Ihe flow of information belween us as Crossbones. lease holders, the developer and the cornmunity. we joinuy ￿establish&d the g8rden's stseallg group and htld regular meetings to disoJss the m8n8gemenl of Ihe garden. vol￿teering an($ events. Page 9 BANKSIDE OPEN SPACES TRUST IREGISTERED NUMBER.. 040406741 TRUSTEES, REPORT YEAR ENDÉD 31 MARCH 2024 Plan8 forthe Over the next year, Banksilte Open Spaces Tr￿1 will finalise ourStr21egic Plan 2024-30 Seltsng out ttFe wals to which we'ts hold oursetvEs resPOn*￿e for the nexl six years. Planned initialives relatin9 lo each Gf these goals ndude.. Enhaftclng Htralth and Wellbwng Ensuring our lo¢al ¢ommunity can access the public Space at The Grotto Empowering 8nd Engaging Local Comrnunilies Expandhg our Future GardeneFS prograrnme acr055 London. Relaunching and develDWn9 our parks steering groups. rransforning Open Spaces Transfom MSG, into a ¢ommvnity hub where our ￿mmUnitY (xn Smpro¥8 their h88llh 8nd resilience in the long-lÈrrn. Working with Landsec and the c(mtnunity lo finalise ptan5 for, an(5 begwi work on. the transfomialion of Crossbones GravÈyard Champloniry suslainabllity We'll begin lo m&asure our bi￿rIE[SIty ba$ellne lo help us work towards ow aim ofbeing net zero across our parks 8NJ g￿￿￿ sP8ces by 2030. 31 41 Case siudy.. Marlborough Sports Garden Phase 3 Capital Works Rede¥8lopin9 MSG wll wasily increase the scope ofour programmes str more people frorn all bad(grounds can access 8 ￿￿er range of 8clivilies. We aim lo attract c 75.000 annual v1511$. Al Ihe c*nire of ￿e scheme is a mulli-million-PDun(t bu#ding with flexible 51udio and events spaces and an affordable heallhy cafe. Abr¥Jside this, we ￿80 lorelresb the sile's txisting sports a￿as- multi￿Se games pitch. sand t￿rt, wall b8¢18nd table tennis lable5-aniJ add a wming Irack and moveable facililie$ ￿ we can introduee ore 5PQrts. Despite being free to Use rnosl of Ihe lime. the 98rden can feel unwelcoming lo mgrginalised or vulnerable user5 or Ihose lacking confioencelskills In sports and filness aGlivilips Post4evdopment, MSG s*ill be fully a¢￿S&t4e with the b85Sc petrnanenl inftastruclure thal il currenlly lacks, as l(xlels and indcor space. The new space WAI support closed sessions for vulne*8ble groups Ihe new greener, ￿der entrance is desgned to make ihe whole site mts￿ %velGornirvJ to ad hoc visitors. CU[￿nI programming is m05Uy seayonal due lo facililj'es besn9 ouldoor5-orFby. whiGh GreHtes lengthy gaps in ovision. Once the taptsi pri4¥t 15 Gornpleled. we will be able to offer year-mund programming - vital for 5USlained wgagernent. Fitness aGlivilies at MarlbortrJgh Sports Gattlen will be complemenled by sessions on nutrition and wellbeing. Thls holisllc appttsach help us fasrer heanhler hablts for lile and ts¢kle obesityat all agas, long-18mi illne5SQS and cornrnon mental health condibons, are 811 prevalent localty. Publ1¢ B8n&fit stattment The trustees have referred to thé guidan¢e Conlainetl In IITe Gharily Commis*on's general guidance on public btnefil when rewewing ihe chariiis aims arid objectives and in planning BOST'S futu￿ actiwlies. In parbcular, Ihe trustees consider how planned aclivibes will conlribule lo BOST'S GharilablE PUTPOS&. Flnanclol Reviéw The group's r8suliS for the year are sei oul on the siaiemeni of FinanclalActivibes M page 16. The group generated a surplus of £218.47812023.' sU￿bUS £427.1391 lorthe year. The surplus in boih 2024 and 2023 are due to the large value of grants and eamed income received and recogntsed in the year ahead of expenditure. Conlracl inctyne 1$ now SO￿*Y recognised in the Trusi acctyJnls wilh the stralegic plan of winding down Ihe tradlng subsidiary in Ihe fvlvre. with thts to become doTrnant unlil a future ￿QUireMent is idenbfied. The unreslricled fijnds lexclvdin9 designated) held by the group are £28s.2￿(2022.. £309.e891 and me2t the Page 10 BANKSIOE OPEN SPACES TRUST (REGISTERED NUMBER= 040406741 TRUSTEES, REPORT YEAR ENDED 31 MARCH 2024 reserves poltcy of th8 charity. Ths total designaied f￿(￿ total￿￿ £100.000 12023.. £100.0001 and Ihè resiricled funds totalling £688.249 12023.. £445.1721 which includes 'c8piial asset. frJnd balance of £50,422 12023.. 154,6241 in relatson ￿ the Eco Hous& building. 50 Red Cross Vlay, London SE1 frotn wher¢ the chanty operJle5. Pay poli¢y Key Maftagemtrnt Personnel The irusiees consider thai tt)È Sert￿r management team. tompri5ed ol Ihe key man8gÈmeni persmftel of the charily, 8re in charge of directing 8nd controlling, runnlng and operating Ihe chanty on a day-lo-day b￿18. trusiees give of their time freely and no trustèe recèived remuneration the year. Oeiails trf trusie? expenses, key managemwl p8rsMTrel and relat￿ p8rty Ir8nsactions are disdosed in noitr 14 oflhe acceunts. The pay oftre senior staff is rewewed annually and nom￿lY in¢re8sed in acctsréance ¥wlh average earr¥ngs. In view of the natu￿ of the charily, the InJsle8s' benchmark ag81nsl pay Ipvels In other ch8ritses of a simrfar size and oper8ling in Ihe 5arne seclor. The ￿m￿neratIOn is benchmarked using markeldata which is readily availa￿e. The same pay policy is in place across all $181f. STATeMENT OF TRusreES' RespoNSIBILITIES rhe trustees (who are also the directors of Bankside OpEn Spaces Tnjsl for the puTposes ol company lawl 8re respwsibPe lor p￿parIng Ihe financi81 slaiefflenls in accixdance with appliEsble 18W and Uniled Kingdom Accounting Standard5 (United Kingdom Generally Accepted Acctyjnling Practice). induding Financial Reporting Siand3rd 102 appIl￿ble in the UK and Republlc of Ireland. Company law requires the Iru5tees lo prepare finan081 slateM￿lS for each financial yearwhich give 8 true and fair viv* of the s18te ol affairs ol the chanlable comparTry and of Ihe incorning Tesuurces 8nd applicabon of resources, includin9 the income and expenditure, of the tharita￿e company lor that pentyj. In preparing Ih05e finanryal stalemenls, the Iruslees are required lo.. Select suilable accounting policies and appty Ihem consislenlly", CX)serve the methods and principles in Ihe Charity SORP.. Make judgemenls 8nd eslimales that are reasonable and prudent.. PTepaFe the financial slaleTnenls on the going ¢oncern basis unles5 ili5 inHptxopriote to pre$um2 Ihai the charilablE company will conlnue in businE5S. The Ifustses are rè$ponsiblÈ for keeping propor a¢¢outlllng records whlch disclose wllh reasonab￿ accuracy 8t any b'rne the finantA* P0S￿on of the ch2ritsble cotnpany and lo enable them to ￿sUre that the financial $lalem&nlS comply ¥￿th the Companies Act 2006. They are a150 responsible for safeguarding the assets ol the charitable cotnpany and hence fly tsknng ￿Sonable slep5 for the prevenlion 8nd detecbon of frdud and Other irTegiJlariiiès. Insofaro$ the trustees are aware.. There is no ￿lEvant audit infortn3lion of wh￿￿ tho charitsblo company's auditors are unaware, and The trvsiees have taken all slep5 Ihat they ought lo have tsken to make fftern5efves awar8 of any relevant audit information and tc establish Ihat the 8udilors are aware of that information. Audilor5 The auditors. MHA. were appointed forthe 2023124 financi81 year follovlng 8 tenderpr￿eSS and wll be priJpowJ for a re-appointment al ihe forthcoming Annu81 General Meeting. Approved by order ofth8 board ofiruslees on ............. . and s￿ned on its behalf by.. T Wood- Chairman Page 11 REPORT OF THE INLIEPENDENT AUDITORS TO THE TRUSTEES OF 8ANKSIOE OPEN SPACES fRusf (REGISTERED NUMBER= 040406741 Opinion We haye audited the finan¢i81 StsleThen15 of Bank￿de Open Spaces Trust lthÈ parent chadiable company'l and its subsidlary Ilhe'grwp'l for the year 8nded 31 March 2024 which comprise Ihe Group Slalement of Financial ACti￿lies. the Group and Parent Bal¥nGe Sheet. the Group and Parent Cash Flow Statement and notes to IhE financial 51aiernenls. induding a summary tsf ￿niff¢an( aGcounting wlioes. The financial reporting framewo￿ th81 ha5 been applied In Iheir prep8r8Uon is applicable law and United ￿ngdorn Accwnbng Standards Iuniled Kin9Oom Generally AC￿pted Accounting Pr8clicel. including FinaTro Rewrbng Standard 1Q2 The Financial Repotyng Sugndard applicable in the UK Republicol Ireland.. In ovr q)iniM the finanrlal $taiemènls'. give 8 bue and fair view of the s1818 of the group and parent charitsble ¢i)tnpany's alfgiT5 35 at 31 March 2024 and of ihe group's incoming resources and appI￿a￿On of re50ur¢es. including its inctsme and expendiiuf8. 1(x the year then ended., hav8 been prOp￿Y prepared in accord8nce With United Kingdom Generally Accepted Accounlir PracliLE, including Financ121 Reporting Standard 102 The Financi81 Repo￿n9 Standard applicable in the UK and RePub￿C of Ireland.. and have been prepared in accordance with Ihe requirernenls ofthe Charfties Act 2011. Ba$1$ for opinion We conducled our audit in accordance with Intemalional Stsndards on Auditiog IUKI IISAS IUKII and apJicablè law. Ow respon5ibilitres undÈr Ih03e Stsndth5 are further desoibed in Ihe AJdilors' respon5ibililies forlhe 8udiiof thÈ finantsal sl8temenls section of our report. We 8r& Independent of thtrgrDVP and pareni charll8Ne comperFy in accordan¢8 Wth the ethical *gquSremenis that a￿ relevant lo ovr audit of the financial slalernenls in the UK. Induding the FRC's Eth￿cal Slanttard. and we have fijlfilled our Olher ethical responsibilties in accordance wtr these reou1rements. INe believe that the audit eviden￿ we havp trbtained is 5ufficifjnt and approphaie 10 providè a basls I[￿ our opinion. Conclusions rslatlng to golng Cortctrn In auditsng the fina￿al staletnenis, we have C￿ClUded Ih81 lh8 twslees. use of Ihe going concem ba￿S of accouniing in the prEpafalion of the fin8ncial sl8ltm&nis is 8ppropriate. 8ase4 on the work we have perfomiÈd, we have niA idenlified any malerial uncertainks reL81in9 to events conditions that. individu811y or collectively, may c8S1 $1gnificdnl doubl on Ihe group or parent charitable company'53bilily loconiinue as a g￿ng ctsn¢ern fora period ol al leasttwelvemonthsfrom when the financial slatemenls ere aulhorised for issue. Ourrespon5ibililie5 and the reswsltAhlies cfthe InJ5tees wlh respect io going conc8m are described In the relevant sections of this ￿port. Other information The tnjslees a￿ f8$pMsible for the olher inforrnalion. The other ￿lfO￿atrOn comprises the information included In the Annual Report. otherlhan the financial SlaleTnents and ourReport of thelndepefjLtenl Auditors Ihereon. Thetriisteesare responsibleforthe other in1orni￿on con181ned ¥￿thIn Ihe annual report. Ouropinion on the finanoal slalements does noi covprlhe other irrformalion and. excppl lo the 8xlentoth8rwse expliclljy slated in our repurt. we do not express any form ofassurance ¢onclv&on thereon. In connection %*ilh ouraLtt1It olihÈ finantial statements. our responsibilily 1510 read theolherinfom7abon and. in doing so, con$icfer wheiher the other infomalion is malenalty inconsistènl with the finanoal sialements, or knovAedge obtained ift the audit or othenvise appears to be materially mlssiaied. If we id8ntify sud) material irFCOllS151encies ￿8pparen1Material missiaiements, we are required lo delermine whethertbis gives rise lo a m8lerial rni$stalernenl in the finanoal stalemenis Ihemsdves. If, b8sed on Ihe worft we h8V& performed, we concluoe thai th8re Is a maierfal mi$8iatement of this other inforrn81ion. we 8re require(J to Page12 REPORT OF THE INDEPENDENT AUDtTORS TO THE TRUSTEES OF BANKSIOE OPEN SPACES TRUST IREGISTEREtJ NUMBER.. 040406741 report Ihal fact. We have nothing lo report in this re9ard. matte￿ which we are requlred to report by exceptlon We hav& nothing lo report in respect of th8 following matters *fiere the Charities IArLotsnts and Reports) Rggulalions 20Q8 rpquires us to report lo you if, in our opinion.. the Information givw in the Report of lh8 Trustees is incwsisteni in any mal8ri35 respecl wth Ihe Iinantial slaietnents.. or the parent charilable cornpany has nol kept adequate &countiny t&ports,' or the financi* slatenienls are nol In agreemenl wilh the acwunling reewds and retums.. or we have noi rec8ived all th6 Nifonnaiion and eXplanats￿$ ¥ve require for our 8udrt. ResponsTbilltie$ of trustee$ A5 explairi8d more fully in the Statement of TruslEe5' Re5pon5iknlities. Iheintstaes Iwhoarealso Ihe directors of th8 th8ri1abl8 comptny for Ihe purposes of company lawl are responsible for Ihe preparation of the financwl slatemenls and for being 5alisfied that they give a and fair view, 8nd for Such int8Tnal tx)ntrd as th8 ItusiÈes detÉmine ig neossary kn Ènable Ihe preparation of financial slalemenis Ihat are free from malerial mi5slalemenL whelher due lo fraud or error. n preparin9 Ihe f1nancial st81ement5, the Iruslees are respon5ibte for assessing the group and parenl charitsble companys to continve a5 8 going ¢on¢em, disclosing. as applicable. matters reL81ed lo golng concern and U￿n9 Ihe going concern basis of accounting Unle￿ the trustees eiiherintend 10 liquidale the group or parent charita￿? cofflpany ur lo cease operations, or have Do realisliG allemalive but to do 80. Our respoDsibllifig$ for the audit of the financial strlofflents Wa have appoinleo as auditors under Sectson 144 of the Charities Aci 2011 and report in accordance with the Act and relev8nl regulations make or hawng effect thereunder. Our objeclives a￿ lo obtain ￿85¢nable a5wran¢e about whether Ihe fin8nrAal siaiemenls as a whole are I￿ trom material mis*atemenl, whether du8 to fraud or error. and lo issue a Report of the Indep8ndgnl Au(tilors includes OUTopinion. Reasonable assurance 1$ 8 hKJh Fevel ol 8ssyrance bul is nol a guatsnlee that an audit conducted in acGord8nce Iirylh ISAS IUKI will 8h¥ays delect a malerwl missialement when it 8XI8ts. Missiaiem8nls can arise from f￿u0 or errcr and are wn5idered material Il. individually or in the aggregate, they could reasonably be expected to influence the econcrfnic decas1￿$ of vser8 taken on the basis of these financi&l s￿lemen1s. Page13 REPORT OF THE INDEPENDENT AUDIYORS TO THE TRUSTEES OF BANKSIDE OPEN SPACES TRUST IREGISYERED NUMBER.. 040406741 I￿e9￿1•￿ties. including fraud. are lfis￿n￿ of non4omplianf* wilh laws and regulations. We desi wocedures in line with tsvr resptrnsibililie5, outlined above, lo delect maleri31 mi55taiemenlS in Fespeci ar irregulariiies, inGluding frauts The exient 10 whit* our procedures are capable of detecting Irregul8ribes. including fraud is deiailed beknw. Enqulry of management and those charge(t with governance 8round aciual, kNJlenlial (K 5U5pe¢iEd litigation. claiffl5, non<0M￿lanCe with applicabl& laws artd regulations and fvaud. Review of leg818nd professional fee5 fw evidence of legal work undertaken or fineslpenalbes incurred. ReviewMig of finan081 statements disd05ures and te51in9 10 sUPPOrtiry dowmenlalion lo assess Compliance W￿1h 2pplthble law5 and regulaliws. Perfom)ing aULlil work over Ihe iisk of mtsnagemeni overrKJe, incl￿1￿9 testing ofjouinal entri8s and other adjuslmerts for approprialeness. An as5essmenl of the methodologies used in iyderto calculate the £%limaled fair value of long-tern7 debtors al Ihe year*nd for evidence of bias. The accounting policy was checked to Ihe financlal repo￿n9 stsndards Whe￿ necessary 8nd confimed 10 be appropriatè. Revie¥4Jing bccounting eS￿mateS for bias. Oiscus$ions aTnongsI the engagernenl team in relalion lo hc>w and wheie fraud rnighl OGGur in the finan¢lal Stslements and ary potential indicators offraud. Discussions with man2gemenl overony potential or sU5pecled fraud. PerforTning $ubsiÈnlive tests ofdetsil ov8rth8 complel8nesslex15tsnce of inwme wthin Ihefin3noHI syslem. Perfomiing audit work w the desKJn 8nd irnplernenlatson of key conirols around the recording of incrme. and Perfoming sub$i8niive analytical rwew procedures reconoling expeGled in¢ome from offobcK8tsng 8vidence lo thal whlch h8d been recorded In th8 fin8nci81 siaiamenls lo ensure that income w8s ¢omplele. ConslderatlDnS around tsktliho¢xl of detection ¢Mever. owng to Ihe inherent lirnilations of an audit. Ihere 15 an unavoidable risk that we rnay not have etecled some m8terial M￿stateMents in the fin8nd81 slatern￿lS, even Ihough have prw8dy planne and performed our audil in a￿0[48￿￿ auditin9 stan(14r￿s. For example. the further remaved non- c1)mplia￿Ce With laws and regulabons lirregulari14es1 is from the events and transactions reflected Ml the fin8n¢ial Stslements. the le55 lik￿Y Ihe itherenlly lirnited procedures required by auditsng standards would ideniify Il. In addibon, as wlth any audil. there Temained a higheT rtsk of non4electlon of ifregularriU8S, 85 thes8 may invdve collusion, forgery. inlenlion81 omissions, rnisrepres8nlations, or override of internal controls. We ar8 not responsible for preventing non4atnrAiance and ¢2nnol be experted to Oelect non- otrpliance with all18ws Tegu1alions. Abjrther desCript￿n ol trur reswnsibiliiies for the audit of the finanual ststements ￿ local&d on the Financial Reporbng Councils websile at y￿￿.frC.org.UkJaudit0rsr8Sponsib11¢tl65. This description form5 P8rt of our Report af Ihe IndependEnl Audilot5. Use of our report This report is made solely lo the ch8rilable company's IrusteÈs, as a budy, in accordance wilh Part 4 of the ChariDe5 IAccwnt5 and Reportsl Regulat￿nS 2008. Our audit work ha5 been undertaken so thal we tnighl slate lo th8 tharila￿a companls trusteÈ$ those m8tters we are required lo st21è to them in an audi(ois' report for no olher purpose. To the fullest exlenl pennitted by lèw. we do nol accepl or a55uffte reSpon￿￿lIty lo anyone otherlhan the charila￿e company and the charitable cllmpany's tru51ees a$ 8 bjdy, for ouraudil work, this rewrt, or for ihe opinions we h8ve fotm6d. Page 14 PEPORT OF THE INDEPEI4DENT AUDftORS TO THE TRUSTEES OF BANKSIDE OPEN SPACES TRUST (REGISTERED NUMBER.. 04Q4Q6741 MHA Slatulory Auditor Swansea, UNted Kingdom Dale.. MHA is tho trading name cf Maclnlyre Hudson LLP, a lirniled liability partnetshi) in England 8ThJ Woles Iregislere¢J number OC3123131. MHA are 2Th￿ble 10 8Ct as auditQTS in terms of section 1212 of the Companies A¢1 2008. Page15 BANKSIOE OPEN SPACES TRUST (REGISTERED NUMBER.. 040406741 CONSOLIDATED STATEMENT OF FINANCIALAGTivrriES FOR THE YEAR ENOED 31 MARCH 2024 2024 Total funds 2023 Totsl fund$ Unrestricted fund5 Restricted funds Notes INCOME AND ENDOWMENTS FROM: Donations an(1 lega08S Chariiable acliMlies 105.148 135,104 33,191 710,654 138,339 845,758 126.849 759,t94 OlherTra(ting Acliwties.. Cornmercial trading operations Pilch hire & other r8nlal 57,795 511,696 57,795 511,696 247,186 520,740 Invesitnent income. 97 97 228 Total intome and endowments 809,840 743,845 1,553,685 1,6$4,19Y EXPE1401TURE ON.. Fundrasing 8ctivilies Chariiable aciiMlies C¢mmerclal Ir8dmg operaiims 11.522 759.602 63.315 11,$22 500.768 1.260.370 63.315 10.482 1.044.430 172 146 Totsl expenditure 834,439 500.768 1.335.207 1,227,Q58 NEf INCOME I IEXPENDrr¢JREI 124,5991 243,077 218,478 427.139 TRANSFER BÈTWÉEN FLINDS OTHER GAINS AP4D LOSSES 124,5991 243,077 218.478 427.139 4ET MOVEMENT IN FUNDS RECONCILIAYION OV FUNDS Total funds br¢ughl forward 409.889 445.172 855,061 427,922 TOTAL FIJNDS CARRIED FORWARD 385 290 688,249 1.073,539 The noles on pages 19- 33 fomi pari oflhes8 financial stalemenis. Slalement of fmanoal aGiiwlies include5 all gains and losses r￿O￿nIs￿d in the year and al income arKJ expenditure derivè from continuing acbvltles. The s1818rnent of financial acbyilies a150 complies Wlh the requirem￿1$ foran inGorne and expendilure accounl under the C(xnpaniesAd 2006. Pege16 BANKSIDE OPEN SPACES TRUST (REGISTERED NUMBER= 040406741 CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2024 Group 2024 Group 20Z3 Charity 2024 Charlty 2023 Notes FIXED ASSETS TarvJ¢ble assets Investments 15 117.143 6S,303 117.143 65.303 117.143 65,303 117.144 65,304 CURRENT ASSETS Deblor5 Cash at bank 17 470,098 391,572 369,894 399.￿3 501,781 363 487 355.196 333.695 861.670 769,237 865,268 688.Bg1 Long t¥rm debto 17 389.6Q4 225.473 389,604 225,473 CREOITORS Amounis laS1ing du& wthin one year 18 1294.8781 1204,9521 1292,7081 1124,6071 NET ASSETS 1 073 539 855 061 1 079.3Q8 855.061 FUPIDS Unresln¢ted fund5 085ign31ed lunds Reslricted lund5 22 285,290 loo,000 688.249 309.889 loo.000 445 172 286.L￿3 100,000 693.245 309,689 100.000 445.172 TOTAL FVNDS 1,073 539 855 061 1.079,308 855.061 The notes on p8ges 19- 33 form part of these fin8naal statements. The chaTrtsble ¢omp8ny Is <iUed lo exempb'on frtsm audit under Section 477 of the Companie$ A¢i 2006 for Ihe year 8nded 31 March 2024, allhough an audll has been carrieij ou¢ under SetstN)n 144 of Ihe Ch8ri1i85 Act2011. The members have not deposited nobce. pursuaDt to Section 476 of Ihe Companies Act 2006 requiring an audll dlhese finan￿al Slotemenls. These financial ststernenls have been gudited under Ihe Tequiremenls of Sedion 145 of the Charities Acl 2011. These financial statements hqve been prepa￿d in accordance wth the wowsions applicabl8 to ch8ri1able companl¢s subject 10 Ihe Small ¢ompaniÈs' reglme. The financi81 st81erneDls were approved by the 808rd ofTrustees onOS-/. ..Iu'&48nd were signed on ￿1$ behalf by.. T - Chairman Page17 BANKSIDE OPEN SPACES TRUST (REGISTERED NUMBER- 040406741 CONSOLIOATED STATEMENT OF CASH FLOWS FOR THEYEARENDED 31 MARCH 2024 Gioup 2024 Group 2023 Charlty 2024 ChaNty 2023 Notts Cash nowg from operating activities 23 56,092 1168.9971 93.655 16.4541 Cash flows fro¥n Investing activitles PurGhase of tangble fixed 855eiS Interest receDied 12.6371 228 163,9801 97 12,6371 228 97 C8sh provI￿￿j by IIu58d Inl invesD'ng 163,8631 12,4091 163.8631 12.4091 Cash flow$ from financing activit188 Loan drawn Loan repaymenis Cash prowded by I (used inlfinanciryj actimties Change cash and Cash ¢¢ufvalents In the leportlng perlod 17.7711 1171,4061 29,792 18,8631 Cash and cash equivalents ai Ihe be9lnning of the retmjrting ppriad 399.343 570.749 333,695 342.558 C#sh and cash equlval6nts at the end Of the reportlng period 24 391.572 363,487 333 695 The notes ort rAges 19- 33 form part of these finenual statements. Page 18 BANKSIDE OPEN SPACES TRUST (REGISTERED NUMBER.. 040406741 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 STATUTORY INFORMATION 6anksidÈ Open Spaces Trust is a charitable company, IlmIt￿ by guaran188, regisleied in England 8 Wale5. The ch3ritsble company'5 ￿gIstered nuFnbET and iegislered office address c£n be found In the Trustees. Report. ACCOUNTING POLICIES Bo$i$ ol preparatlon of accounts The financial Slalemenls of the Gharit3ble Gornpany. which Is a public benefii entity under FRS 102. have been prepared in accordance ￿th the Chdrities SORP IFRS 1021'AeEourtiing 8nd Reportiry by Charities-. StalerneTrl of Recomrnended Practice applicable ID charilits prep8ring their a¢counls i atcordance wilh the Financial Reporting Standard appliCa￿e in UK and Republic of Ireland IFRS 1021 leffective 1 January 20191,. FiTranci31 Repvrting Standard 102 The Financial Reporting Sland8rd applicab￿ in the UK and Republic of Ireland, the C¢)mpanies Aci 2006. The flnar¢lal slalemen15 h2vÈ been prepared underthe hi$iorie3t ¢osi eonvenlion. The chantablÈ tompanvs tunttional and p￿sentational cuffency is the pound sterfin9 1£) an balan¢es are rounded io the nearest £1. Going conttrn A Significant proportion of the charity's incorne is by way of grants. many Df which are reslricled for specific purp05e$ or proiecis. The charity Strives 10 generaltr unr8slrfcled income in order lo meet ils general running c051s. In the current year the charily h25 reported 8 defiol In unrestricled lunds. bul does have unresthued reserves of £385,290 ai the balance sheei date. The TrtJste8s havtr a reasortable expectation Ihai sufficient income together with grants will continue to be received to meet ils expe￿Se$ and future capiial commitments and therelore Ihe tharily ha5 adequate re80urcas to continue In operational e%isience for the foreseeable fulure. AGcordiTrgly, the Truslees continue 10 adopt going concem basis *n preparing the financial slaÈements. Basls of consolldatsc The financial slatem8nts ctsnsolidate the results of the charily and ts wldly 5ub$idiary. 88nkside Open Spates Traoing Limited on 8 line-by-lorÉ basis in accordance with FRS 102, section 9 and thè SORP IFRS 1021, serlion 24. A sÈparalÈ siatemenl of Financia5 Aclivilies and Income and Expendittjre Account for the parent charity has not been presented bec3use the grovp hos taken advantage oflhe Èxemption afforded by Secbon 408 of Ihe Companies Act 2006. Incomè rÈcogniiio l income is included on the siatemeni of Financial Aciivities when tre charilable cofflpany is legally enttled 10 the in¢ome and the amo￿l can Oè qu8nlified ￿th rea8on8ble 8ccur8cy. Where grdnls are $ubiecl to performance Felaled conditions. they are rec(yJnised in the S18tement of Finantyal Actswlies based upon when Ihe perforrnance relaleE5 conditions have been mei. ID line with the Stalemenl of Recotllmended Practice." Accounting and RepDrting by Chaities. Don8tiws are reco9nise¢J either when received unless the ¢haaty has been notified in Writing ofboth the amount and date o18xpecied payment. InC￿e from trading activities is recognlsed upon the dellvery of goods and the provision of services. Intere51 on fund5 held on depos￿ is included when reGeivable and the amount can be measured reliably by the chaTIIy. Don818d services and fatrlities are recowised as incwne and expenditure when the benefit to the char￿Y can be reasonabty quantified or measured and is considered malerial lo the Gha￿ty. The value olvolunleers. lime h8s Ml betn recognised in the accounts. Expenditure recognition Llabilities are recognistrd 88 &x￿ndi1Ure as soon as there is a leg81 or constructive obligation corntnitLing the charily lo Ih3t expenditure. il is proboble Ihal Selllemenl wll be required. and the amounl of Ihe obligation c3n be measured reliably. Page 19 BANKSIDE OPEN SPACES TRUST (REGISTERED NUMBER-. 04040fj741 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES- continued All expenditure IS 8GCDunled for w ihe atcruals basis. All expenses induding support costs are albcaied lo the appliCa￿e expenditure headings. Allocatlon and apportionmeTh¢ of cost5 Expenditure. whth is GhHrged on all ar£￿￿.$ basis, Is albcaied be￿een expenditure incurrtd Ireclly in ihe effort lo taise funds, expÉnthlure incurred directly In the fuwilment of the chanty's objeGlives, and expenditure incutred in the management and adMinistra￿On of the charity (governanGe G0515 and otherexpenditurel. EXpe￿di1uTe on raising funds C05t5 of generating funds aFe the Cosis incuired altBcting voluntary income and those incuff￿ Mi olhèr trading attivilies th81 raise lunds. Expenditure on char4tabFE activltles Exppndilure ¢>n chaiiiable aciivlties include IhecoslsdiiecUy3550ciated with caFnmunityvobJnteering and involvÈm@ni proi8Cts, communiw 9arLfening, 5Wrts acliirylies in greert spaces. holding events and managlng m4orwc￿8, 10 fvrther the purwses oflhe charity and Ihgir associated supporteosls. Pem5Èan costs The charity opeiales a defined ctxlribution pension scherne The pension co81 charge represents contntMJtions pay8ble by the charity lo the fvnd, in accordance with Ihe rU￿S orthe scheme. Significant judgements and e5thnates In the 8pplicalion of the charily'5 gccounling pc4￿￿5. the trustees are requir8d 10 make judgements, esiimales and assurnpivns about the carying amounts of asseis and Ilabilitles Ihal are not readily apparent from olher sourcgs. The 951ifflales and associated a55UmPtions are bas8d on tti51arical exp8rience olher faclof5 whiGh are Gonsidered to be relevani. Aciual results May ditter from these estimates. The estim8les and underlying a¥umptions are reviewed on an ongoing b85i5. Revisions to #ccounting pslimales are rEcogni$ed sn the PEriod in which the estimate 15 rev15ed rf the revision only effects th31 period. orinlhe period ofthe revision 8ndfulure periods if Ihe revision affects both cunenl nd fijlure periods. The follc>wing are the ctiticaljudgemenls that the trustees have rn8de in the pro¢ess of 8pplying the charily's 3ccounling policies and thai have the mtrsl 519nificaDt &ffect on the amounls recognised in Ihe financial statèments. Assets are 85se5sed for indicaiots of imp8irm8nl 81 each balance sheei dale. K thèr& Ss objective e¥idence of impairment, an impairment loss is rewgnised in the Slalement of Fin8nci31 Activities. ro ntin Provisions are recognise(t when thè charfty has a pie$￿t ob1igalion as 8 resull of a pasi event and a relab￿ estimate can be made of a tKDbatAe adverse OU￿Me. Otherwise. rnalerial Page 20 BANKSIDE OPEN SPACES TRUST IREGISTERED NUMBER.. 040406741 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES - conllnued contingent Ikqbilities 8re disclosed unless 8 transfer of economiG benefits is consider&d r8mote. Conlingenl 8ssels a￿ only disdosed il an inllow cf economic benefi15 15 prob8ble. Useful ec¢nomlc livt8 of ian Ible [￿ed 8ssel$ The annual depreci8t4on charge lor langible fixed assets is sensitive lo thanges in the esllmaled useful economic lives of the assgts. The useful ￿OnoMIC lives a￿ rea55essed annually and are amended when necessary ￿ rèfled current estimafrs of economK ulilisation and physical condthon of Ihe assets. Flnanclal Instruments Basic financial assets. include trade 8nd olher debtrys and rash gnd baftk balances, are inibally rneasured el transaction price unles5 the aNangement conslitvtes a financing Ir8nsaction, where the transaction is measured 8t ihe w85enl value of the futu￿ rKeip15 discounted 81 a market Where credit lerrn5 extend beyond 12months. a fairvalue adjuslrnent is used to rt¢ognis& the asset al arnorbsed cost. Non-exchang8 iransaclions. such 85 granl deblor5 anLS deter￿￿ grants ate recognisedal the kyesenl V51ue of the likely settlemanl amwni. Any gains or 1055es arising present valu8 adlusthi8nts are recrynised In the siatemenl ol Financial Activitie5. Basic finanaal liabililies, including Irade and olher creditor5 and ltsans. we inilièlly recognised al trdnsaclion price unless the arrdngernenl conslilules a financing transaclian. where th? dabl instrument is measured al present Volue ol the fvlure paytnents distounted ai a market rai& of interest. Tangible fixed a$sets Tangible fixed as5el$ a￿ 5tsted al cosi IESS dEprEciaiion. Individual fixed asseis cesling £600 ar more are Gapilalised at oost. Depreciat￿n provided at rale5 cakulale¢ to wriie off the ¢o$t orvalu8tion of fix8d 8ssets, le58 Iheir esbmated resklu81 value. over thwr expected useful live5 on the follo￿ng bases. Freehold Lqnd ts not depreciated. Leayehold improvements Office equipmeni Park fixtures and fitbng5 Gardening equipment Computer equipment - Ovw 25 year peri(yJ ofthe lease slraighl line over 5 year5 slrai9hl line over 5 years sITai9hl line ovei 3 years straight line ovei 3 ye3rs Taxation The th3rily is exernpt Irurn wrpordbon on its ¢harftable activi￿e$. OporatlTrg leases Rentals paid underoper*ing lease$ are charged 8$ exp8ndthrÈ on 8 Straight4in8 b85ks over the peri￿1 ofthe lease. Pension costs The charity OP8ra185 8 defined contribuuon pension stheme on behalf Df Ils employees. contri￿tionS are charged It5 Ihe Statement of Financial Acuwty in the period in *thich ihey are paytbl8. The assels of Ihe stheme arE hekl separaiely fmm those of the charity in an independently admini8tered fund. Page 21 BANKSIDE OPEN SPACES TRUST IREGISTEREO NUMBER.. 040406741 NOTES TO THÈ FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES- continved Deferred Ineome Grant incomeisdeferred 10 future periodswhehthegraniissubleci 10 perfomiance related conditions bein9 rnel. The grant income is deter￿￿ and not re¢Dynised unt￿1 the conditions are flrfly mel. Inve5tm2nts Fixed as5ei investments tre valued 31 fairw8lve. Funtl accounilng Unre51ricted fvnds can be used in acco￿ant￿ wilh the charitable objective5 at the disryelion of the tnjslees. R8sin¢ied funds can trnly be used for parbcular reslrtcled purwses within the 0￿.8¢ts ol the charitable company. Restrictions arise when specified by the donor or when fund5 are FaSed for P8rticular resin¢ied pvrposes. INCOME FROPI OONAfioNS AND LEGACIES 2024 2023 Donations Gift in Kind 110,210 28.129 82,352 44,497 126 849 Unfeslri¢ted Re5trfcted 2024 Donations Glft in Kind 77.019 28.129 33.191 110,210 28,129 Total income from donatioas and legacies 105.148 33.191 UntPStrlcted RpstriGtsd 2023 Don81ions Gift in kind 46,385 35.967 44.497 82.352 44,497 Totsl tnwme from donallons and lega¢res 46,385 80.464 During the year. Ihe tharity received pro-bono serwice5 frorn Keyslone Law. The valbe placed on these Contrib￿liarts by Keysione Law 15 £28.12912023-. £44.4971. The income Equivalenis are reccgnised donations and granls. with the wrresponding charges included wlhin unre5kncted supp(Yt ¢osts. Page 22 BANKSIDE OPEN SPACES TRUST (REGISTERED NVMBER.. 040406741 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 INCOME FROM CTrtARITABLE ACTIV¢TIES 2024 2023 Gtsnts cont￿¢1 Ineome 648,100 t99.658 714,441 44.753 Unrestricted Restricted 2024 Grants Ctrniracl irEc￿e Total Sncome from ¢h8rllable actlvltles 39.789 95.315 606,311 104.343 646,100 199.658 135.104 710.654 Unrestricted Restricted 2023 Grants Conlrect income Totsl Incorne from Gharitabl¢ 8Ctiv*ties 22,224 44.729 692,217 24 714.441 44.753 66,953 692.241 INCOME FROM COMMERGIAL TRADING OPERATIONS OF SU8SIDfARY 2024 2023 Trading income 247 186 I trading income is unrestricted. Page 23 BANKSIDE OPEN SPACES TRUST IREGISYÈREIJ NUMBER.. 040406741 1407ES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 CONTRACTUAL RENTAL INCOME 2014 2023 R￿lat Income Unyestrlcted Restricted 2024 R8nlal income 511,696 511,696 Total ¢ontractual rental income 511.696 Unrestricted ResttiGtEd 2023 Rentsl in¢(xn¢ 491,273 29,46T 520,740 Totsl contractu41 ren¢Jl in¢ome 491,273 29.467 74 TEREST INCOME 2024 2023 Interest incerne All inlerest Sntome relates to bank interest which is unrestricled. NET INCOME i iexpENDITUREI 2024 2023 income I lexpenditurel is staled 8ft8r charging I l¢redilingl-. Depretsation of tsngible fix8d 88sels Opef8bn9 least payments Audittr remun2ration-Audil Audiior remuner8tiDn- NoTr-Avdll 12.120 6.027 15,750 3,2SO fj,678 5.030 15.400 14.850 Page 24 BANKSIDE OPEN SPACES TRUST (REGISTERED NUAI8ER'. Q40406741 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2Q24 EXPENOITURE ON CHARITABLE ACTIVITIES UrkrestActed Restrictad 2024 Accreditalicn cost8 B8d debts Bank charges Ccnira¢iors' fees Depreciation Eouipment hire Insvran Legal 8 professional arkebng bAaterials & Tools Other slalf cos15 Prernises costs. repairs and m&ntenan¢ Sports coaching fees Slaff costs Travel Volunteer expenses YoLrth activities Support Cosls (see below) Governance c051515ee bebwl 158 16.954 1,299 83.950 7,918 16,é61 5,942 15.598 .331 6,856 12.155 144,466 8,063 257,393 102 2.505 8.635 142.081 20,535 759,602 26,214 480 26.372 17.434 1.299 132.761 12,120 27,517 5.942 97,146 16.409 23.fj48 12,201 161.053 26.369 510.003 1,363 9.262 12.898 146.038 20.535 1,250,37Q 48,e11 4,202 10,656 81,548 8,078 16,792 46 76.587 18.306 252.61Q 1,261 6.757 4,253 3,957 500,768 Support CQ5ts Unr•strlcted R8str¢¢ted 2024 CornmuniGation cos15 Sessional worker5 Stsff cost5 Sundry c051s 10.131 4,017 115,565 12.368 514 2.950 10.645 6.967 115.565 12.861 493 142.081 3.957 146.036 Govemance costs Unte5trictÈd RÈ$trickd 2024 Au(Jit Strate9￿C developmenl 19.000 1.535 19,000 1.535 20,535 20.535 Page 25 BANKSIDE OPEN SPACES TRUST IREGISTERED NUMBER.. Q40406Y41 IIOTES TO TtrIE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 CQMPARATFVE EXPENDITURE ON CHARITABLE ACTivifES Unrestricted Restricted 2023 Staff ctr5ts Direct Pioject costs Premises costs. rep8irs & maintenance Supwrt costs (see belwl Gov6rn8n¢e costs (see t¢lowl 158.008 158,008 225,670 69.122 555,376 36,254 225.670 69,1T2 322,146 36,254 233.230 458.900 1.04d,430 Support costs Urtrestricted R￿trIcted 2023 General office Other slaff costs PreTni5es G05ts. repair Communication ¢osi$ IT Costs Legal fees Depreciaiion Sundry Se55ional Workers Sk¥Jrts coaching lees FumiturE & eguipmenl Contractors, f8es Bank d)arges 68.244 6.129 34.395 3.866 6.277 3,242 6,678 22,315 1.746 1,185 1.079 65,537 1,453 233.230 40t,474 6.129 34,395 3.866 6,277 3.242 6.678 22.315 1.746 1.185 1,079 65.537 1.453 322.148 233.230 555.376 Govtrnante costs UTrrestri¢ted Rostrlcted 2023 Audit & A¢¢ountan¢y Strale￿¢ development Oiher 30.250 4.339 1.665 30.250 4.339 1.665 36.254 Page26 BANKSIDE OPEN SPACES TRUST IREGISYERED NUM8ER.. 04¢M06741 NOTES TO THE FINANCIAL STATEMENTS FOR THE YÉAR ENDED 31 MARCH 2024 10. EXPENDITURE: SALARIES AND NATIONAL INSURANCE 2024 2023 S818rie5 Sooal Security Pensions 567.093 50,011 19,802 500,227 43,172 16,043 PENSIONS Tf* pension cost chaFg8 represents contributions pay8bie bythe thanty lo the pension s¢heme and amounted to C19.80212023.. £16.0431. Contributions lot￿lIng £rMI12023.. £1.4861 werè payable to the fund 81 Ihe year and art included wlhin creditors. 12. EMPLOYEES The number olemrAtsyees who recelved ioial empltyee benefits mor8 than £60,000 is as follow$." 2024 2023 £60,001 - £70.000 £70,001 - £80,000 The aver898 ￿￿thEY nuffjber ofernployees Ifuff-JTne eqv5wJlonll during the y£ar wa$ as ftsllows.. 2024 2023 13. VOLUNTEERS Tha valué of volunieers, timp glven wiihin th8 year is not readlly quanufiabfe and, in ￿ne ￿th Ihe requlrements of Ihg SORP, has not been r8COgnls8d ￿lhi￿ tha accounts. 14. RELATED PARTY TRANSACTIONS. TRVSTEES REMUNERATION AND EXPENSES AND Key AfANAGEMÉNf PERSONNEL ReMUNeRAflON ANO expENSES. No tsuslees ie¢etved any remunef2tien in Ihe year 12023.- nill. No trustees were reimbursed for any ex￿nseS[2023." nill. The key rnanagement personnel of the Chaaty are the Chief Executive Officer. If* Head of Libing SpaGe and Operations, the Head c>f Parks and Comrnunity and the Head of Swt and Development. The total employee benefits of the key management perS￿ne1 of Ihe Charity were £220.98712023. £156,507). An addit￿ne1 role has been included in Key Management Personnel in 2023124 which has incr88sed the lot81 cost compared with the pnor year. Page 27 BANKSIDE OPEN SPACES TRUST IREGISTERED NUMBER.. 040406741 NOTES TO TfrIE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 K8rpn Alkinson. trustee, is employed as a di￿OI0r al the City Brdge Foundabon. A bal8nce of £321.930 12023.. £nill was owed bycity Bridge Foundation atlhe year enlt. Durng the year. grants ofE379.72012023.. Enill were r8CeiV8d from City Bridge Foundation. TANGIBLE FIXED ASSETS- GROUPANO CHARITY Fumitvre, Fittsn95 & Lea$ehold Park fixtures Equipment Improw8ment & flttlngs Plar*t & ma¢hlnery Tot COST Brought forward Ad(libons 21.728 12,358 129.715 51.602 8.6e8 6,295 166.426 63.960 Al 31 March 2024 181 317 8.688 6.295 230.3e6 DEPRECIATION 8rcJughl forward Charge for the year 21,282 4.565 64.858 7,555 8.688 6,295 1L>1,123 12.120 At 31 Mar¢h 2024 25.847 72,413 8,688 6.295 113 243 NET BOOK VALUES At 31 March 2024 8,239 1D8,904 117,143 Al 31 March 2023 446 64.857 65.303 16. INvesYMÉNTS. GROUP AND CHARITY Group 20Z4 Group 2023 Chafity 2ri24 Charlty 7023 Investment at co$1 The charily holds 1 share of £1 each in ils vlholly t)wned Irdding sub&diary company Bankwde Open Spac8s Tr8ding Ll(S inwrporafed in the United Kingdom. These are the only shares allotted, called up and fully pad. The 8ctivities and resulis of Ih1s cornpany are surnrnarised below.. Page 28 BANKSIDE OPEN SPACES TRUST (REGISTERED NUMBER= 040406741 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 MARCH 2024 SUMMARY PROF￿ AND LOSS ACCOUNT 2024 2023 Turnover Cost ofsales and admiThstralion costs Service tharge payabJ8 to th8 charjty 57.795 163.314 247.186 1172.1461 175.0401 Net prof4VIIos$ The assets Ilabllities of the subsidiary weM'. Current assets Current liabitibes 31.444 36 963 157.221 157220 rot81 net asset￿(11¥bll1t[e$I Aggfegate shar8 capiial and re$eYvès 17. DEBfoRS'. AMOUNTS FALLING DUE WITHIN ONE YEAR & OVER ONE YEAR - GROUP AND CHARITY roup 2024 Group 2023 Charity 2024 Charity 2023 Short term Oebl(xs Prepayrnenl AcGruEd incarne ankskle Open Spaces Trading Limiled Olherdeblor5 142,816 133,776 193,506 176.252 15.842 101.522 139,456 133,776 193.506 35,043 160,958 15,842 101.522 76,874 76,278 470,098 369.864 501,781 355,1 Long temi 3B9,fjD4 225,473 389,604 225.473 f8. CREDITORS: AMOUNTS PALLING DUE WITHIN ONE YEAR- GROUP AND COMPANY Group 2024 Group 2023 Charity 2024 Charity 2023 Trade crediiors Ac¢ru8ls Tax and sooal sÉcurity Defer￿ income (Note 191 Otner creLfitors 38,991 84,670 130,362 40.855 65,442 83,075 10,740 44.972 723 38,991 62,750 130,112 40,855 13.605 82,055 10,740 17,484 723 294 878 292 708 124 607 P8ge 29 BANKSIOE OPEN SPACES TRUST (REGISTERED NUMBER: 040406741 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 19. ACCRUALS AND DE￿RRED INCOME GTOtJp 2024 Gioup Charity 2024 Charity 2023 2Q23 Balan￿ broughl ftrrwa mounts released to incotne in the year ounts defarr8d in the year 44,972 144.9721 40,855 175.741 1175,7411 44.972 17.484 117.4841 40,855 8.200 18,2001 17,484 40,855 44,972 40.855 17.484 20. OPERATING LEASE COMMITMeNT$ The ¢harily ha5 operating lease commitments relating to ils ryoperty rental as Sho￿ bdow.. 2024 2023 Within 1 year 2-Syears Over 5 yea 32,030 37.061 100.417 6.030 39,091 10S,418 21. ANALYSIS OF NETASSETS BETWEEN FUNDS GROUP Unrostrl¢ted OeslgnJt811 Rostrlct Total Tangibpe fixed assets Nei as5elS 66,721 218,569 50,422 637,827 117.143 956.396 100.000 688,249 t 073 539 CHARITY Untestrlcled Designated Restrlcted rolal Tangible Ilxed assets Inveslmenis N812sselS 66.721 50.422 17.143 219.341 1QO,L]00 642.823 962,164 286,063 loo,000 693,245 1.079 306 Page 30 BANKSIDÉ OPEN SPACES TRUST IREGISTERED NUMBER.. 040406741 NOTÈS TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ANALYSIS OF NET ASSEfs 8ETWEEN FUNOS- previous year GROUP un￿stricted Designated Restri¢ted Toial Tangl￿e fixed assets Net assets 10,679 299,210 54,624 390.548 65.303 789.758 100,000 309.889 100,000 445,172 855.061 CHARITY Unreslrfckd Designated Restlcted Total Tan9iNe fixed a55els Inve51rnEnls Nel assets 10,679 54.624 85.303 299.209 100,OOU 39ts.548 789.757 309.889 100 000 445.172 B55.061 22. MOVEMENT IN FUNDS- CURRENr YEAR At 114123 Incom8 Exp8ndlturo Tiansfer Al 3113124 Unrestrictpd funds 309.889 809,840 1834.4391 285.2gJ D8$lgna¢od fvnds 100,000 100,ofAI Restri¢t¢d funds Cajytsl k5el Projecl Fund5 54.624 390,548 14.2021 14*.5661 50,422 637,827 743.845 TOTAL FUNDS 855.061 1,553.685 11.335.207) 1.073.539 MOVEMENTS IN FVIIDS- COMPAKATIVE At 114122 ID¢orne Expendilure Transtet At 3113r23 Unrpstrleted fuTrds 276.022 852,025 1768,1581 150,0001 309,885 t)esignated fvnds 50.000 50.000 100,00 Restrl¢ted funds Capital Assets Pn)jed Funds $8,826 43.074 14.2Q21 1454,6981 54.624 390.548 802,172 427.922 1.654.197 11,227,058) 855.061 Page31 BANKSIDE OPEN SPACES TRUST IREGISTERED NUMBER: 040406741 NOTES TQ THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Descrlptlon, nature and purpose Df re5tri¢ted fvnd8 Community involvement and volunteering Involving our local ¢ommvnity 10 help improve ana mainlwn our pork5 and g8rdens. deliver ￿Jr events, 8CI as Imslees arid suppcrt wr ￿der work. Community gardening Proiecting and Improving existing ¢pen spaces and deve￿p, desfgn t￿￿e new sp8ces. increasing accessibllity for all. Sports adivities Funding that helps us provide Sporti￿ artNltie$ tE> promote th6 heallh Ènd wellbeing of the communty we 8eNe. Events Funding received toward5 organising e(mrnunity evenls which empower and engage local communilles. Transformlng opett SPH¢85 Funding Ih8t helps the tharity to bvth protect and improve IhB local gr8en spacè n￿￿orK In Bankside surrounding areas. Caplt818$$ets This includes.. Southwadf Council Regèneration. relating lo funding received lowdrds the provisits7 of naw office accotnm(*8lion and surrounding landscapirg. The iotal fund wa5 capitslised In 2012 and the balance cgffied forward represents the undeprecialed cost of the a88ei. Quadranl (Eco House), rdaling lo funding received toward5 the provislon of new office accornmod8tion and $uriounding18ndsr£wThJ. The total frjnd was capiialised In 2011 and 2012 and Ihe b218nce cathed forwar(* represents th¥ undÈprpiA3led cost of the asset. Vnrestr5¢ted funds This is the general fund, availaNe lo spend at IhE discrelon of the irust8es. De$ign8ted hJnd$ The% ore funds sel asidtr by Ihe tru5tee8 for ihe capital troject unde￿aY at The M8rtborough Sports Gardens. 23. RECONCILIATION OF NET IEXPENOtTIJREllItICOME TO NET CASH FLOW FROM opeRATING ACTlVtTIES Group 2024 Group 2023 Ch4rily 2024 cha￿tY 2023 Nel rNJvemenl in fvnds Add back depreciabon Deduct interest income shown in investment acti￿lI¢s Décrea$ellincreasel In dEbt(xs Intrehselldecreasel in trediloT5 218.478 12,120 427,139 224.247 10.881 12.120 427,138 10,881 1971 12281 12281 1264,3361 1455,9301 1310,7161 1441,8071 89.927 1150.8591 1e8.101 12,4381 Ne¢ ¢85h provlded by op¢ration5 092 168,997 P8ge 32 BANKSIDE OPEN SPACES TRusf IREGISTEREO NUM8ER- 040406741 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 24. ANALYSIS OF CASH AND CASH EQUIVALENTS 2Q14 2023 Cash al bank 399 343 25. CAPITAL COMMITMENTS As al 31 March 2024, thère were no capital ¢￿￿MilMents [2023.. £nill. 26. POST BALANCE SHEET EVÉNTS Since the b81ance sheet date. a Elm sacial inve51menl 108n facllity has been agreed in princip￿ ￿th City Brklge Foundation. 10 5uppori Ihe Martborough Sports Ground Develtspmenl. As Slated in note 14. Karen Atkin50n (Trusleel is &mployed as a Director of Cty Bridge Foundaiion. Page 33