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2021-12-31-accounts

Tel: 01753 687236 www.greencorridor.org.uk

Annual Report and Financial Statements for the year ending 31[st] December 2021

Main Road Nurseries Stanwell Moor Road Heathrow Hillingdon TW19 6BS

The Green Corridor (Limited by Guarantee)

For the year ending 31 December 2021

Contents:

Reference and administrative information ..................................................................................... 1 Trustees’ annual report .................................................................................................................. 3 Independent auditor’s report ........................................................................................................ 11 Statement of financial activities (incorporating an income and expenditure account) ................. 14 Balance sheet .............................................................................................................................. 15 Statement of cash flows ................................................................................................................ 16 Notes to the financial statements ................................................................................................. 17

The Green Corridor (Limited by Guarantee)

For the year ending 31 December 2021

Reference and Administrative Information:

Company number

04267457 incorporated in England & Wales

Charity number

1092093 registered in England & Wales

Trustees

Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows:

Ruth Kennedy (Chair) Paul Keenleyside [resigned 15 Sept 2021] Arnie Wickens Raymond Elgy [resigned 24 Jan 2022] Paula Stannett [resigned 15 Sep 2021] Nicola Leonard [appointed 24 Jan 2022] Nigel Fishwick [Vice Chair) [appointed 15 Sep 2021] Nicole Jennings [appointed 24 Jan 2022] Amanda Owen [appointed 15 Sep 2021] Gareth Hughes Ashley de Safrin

Key management personnel Tim Knight: Chief Executive Officer [resigned 30 Jun 2022] Henrik Winther-Olsen (acting Chief Executive Officer)

Sophie Rolfe: Director of Education

Registered office and operational address

Green Corridor Main Road Nurseries Stanwell Moor Road Staines-upon-Thames TW19 6BS

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The Green Corridor (Limited by Guarantee)

For the year ending 31 December 2021

Auditor MG Group 166 College Road Harrow Middlesex HA1 1BH Bankers CAF Bank Limited Virgin Money PLC 25 Kings Hill Avenue Jubilee House Kings Hill, West Malling Gosforth Kent Newcastle upon Tyne ME19 4JQ NE3 4PL Solicitors Russell-Cooke Solicitors 2 Putney Hill London SW15 6AB

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The Green Corridor (Limited by Guarantee)

For the year ending 31 December 2021

Trustees’ Annual Report:

The Trustees, who are also Directors of the charity for the purposes of the Companies Act 2006, present their report and the audited financial statements for the year ended 31 December 2021.

The financial statements comply with current statutory requirements, the memorandum and articles of association, the requirements of a directors’ report as required under company law, and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

The directors of the company are also charity trustees for the purposes of charity law and under the company's Articles are known as members of the Trustee Board.

Structure, Governance and Management.

Governing Document

Green Corridor is a charitable company limited by guarantee incorporated on 9[th] August 2001 and registered as a charity 17[th] May 2002. The company was established under a Memorandum and Articles of Association in 2001, which have since been updated on 7[th] October 2010, and is constituted as a company limited by guarantee. In the event of the company being wound up members guarantee to contribute an amount not exceeding £1.

Recruitment, Retirement, Appointment, Induction and Training of New Trustees.

Under the requirements of the Articles of Association, at the first Board meeting of each calendar year one third of the Trustees for the time being or if their number is not three or a multiple of three, then the number nearest one third shall retire from office. Any Trustee who was elected for the first time during the previous calendar year shall not count towards the calculation of one third. The Trustees to retire at the first Board meeting of each calendar year are those who have been longest in office since their last election. A retiring Trustee shall be eligible for re-election by the other Trustees. After being re-elected 3 times, trustees should consider stepping down for at least a year before being considered for reelection.

However, a Trustee may stand for re-election on his fourth retirement since his initial election for a further term without taking a period out of office (the length of term to be decided by the Board) provided that this is approved by a resolution of the Board passed by a majority of at least 75% of those voting.

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The Green Corridor (Limited by Guarantee)

For the year ending 31 December 2021

All members of the Board of Trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in the notes to the accounts. Trustees are recruited via various advertising routes including recognised trustee recruitment websites with a job description of the key skills, knowledge or experience being sought and an overview of the role and essential duties of a trustee. Selection is through a two stage process involving the Chair, CEO and trustees as deemed appropriate.

All new Trustees undertake an induction process including a briefing on our Strategic Plan, current 3- year Business Plan, Strategic Risk Register and access to a range of Charity Commission ‘Essentials’ series such as charity finances. To increase the contribution that new trustees can make, and to aid continued professional development, we also signpost to appropriate training, publications and webinars from the Directory of Social Change (DSC), National Council of Voluntary Organisations (NCVO) and Association of Chief Executives of Voluntary Organisations (ACEVO). Green Corridor has a Board of Trustees that acts as a Management Committee. The Trustees meet at least termly and are responsible for the strategic direction and policies of the charity. At present the Committee has eight members from a variety of professional backgrounds relevant to the work of the charity.

Organisational Structure and Decision Making.

A scheme of delegation is in place and day-to-day responsibility for the provision of the services rest with the CEO. The Chief Executive is responsible for ensuring that the charity delivers the services specified and that key performance indicators are met.

The Trustee Board has conducted a review of the major risks to which the charity is exposed. A strategic risk register has been established and is updated at least quarterly. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. Significant external risks to funding have led to the development of a strategic plan, which will allow for the diversification of funding and activities. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with health and safety of staff, volunteers, clients and visitors. These procedures are periodically reviewed to ensure that they continue to meet the needs of the charity. The Board of trustees met 3 times during 2021 for formal business meetings.

Subsequent events

Our previous CEO Mr Tim Knight left the organisation in June 2022. The Trustees wish to thank Tim for the invaluable work he undertook during his time with the organisation. A permanent replacement will be announced in due course.

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The Green Corridor (Limited by Guarantee)

For the year ending 31 December 2021

Remuneration Statement.

Green Corridor relies on Education, Health and Care Plan (EHCP) funding from our various Local Authority partners and income from grant awarding bodies; so it’s critical that these monies are spent wisely and always to the benefit of our young learners to ensure we deliver a high quality and value for money service. To do this in the year to December 2021 we employed 33 staff (2020 – 19) who provide the essential tutelage and support services to deliver our education, training and employment services. Staff costs (£885,254 including salaries, pension and national insurances contributions) make up the largest proportion of the annual cost of running Green Corridor (circa 61%). The charity has undertaken a benchmarking exercise and will look to ensure salaries are in line with median pay points for the sector.

Compliance with Fundraising Standards.

Green Corridor continues to ensure that all trustees, staff and volunteers carrying out fundraising activity act in accordance with the Code of Fundraising Practice as outlined in our Fundraising Policy. In particular, we will adhere to the principles of the Code, namely that our fundraising will always be legal, honest, open and respectful.

During the year we did not employ external professional fundraisers and we received no complaints regarding our fundraising activities. Our website outlines both our Fundraising and our Grievance Policies to the general public. We also adhere to the Charities Protection and Social Investment Act 2016 to ensure we protect vulnerable people from making donations to us if they do not have the mental capacity to do so.

Objectives and activities.

Vision.

All our young people with special educational needs have the opportunity to achieve their fullest potential and participate in all aspects of life in their communities.

Mission.

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The Green Corridor (Limited by Guarantee)

For the year ending 31 December 2021

Core Values.

What do we do

Green Corridor is now a well established charity with a 20 year track record and we primarily deliver post-16 specialist education and training activities to help address the employment gap for young people with special educational needs living in the West London area and surrounding counties. Our charity's purposes as set out in our objects contained in the company's memorandum of association are to:

Our unique charity connects marginalised young people with special educational needs and learning disabilities living in West London Boroughs and surrounding counties with the environment around them through the growing and cooking of produce cultivated on site. Our Learning and Development Centre near Heathrow Terminal 5 allows us the space to deliver horticulture and catering qualifications in a safe and welcoming environment. Our classrooms also provide the opportunity to achieve functional skills qualifications alongside mental and physical well-being programmes, a focus on careers, information, advice and guidance and access to a wide varity of support including speech and language therapy, educational and clinical psychologists and occupational therapists.

How we deliver high quality provision

At Green Corridor we are proud of all our young people but also of our amazing staff who use their expertise and unique blend of skills, knowledge and experience to provide high quality tailored learning pathways for each individual young person. We also ensure high quality accredited vocational learning through maintaining small class sizes of no more than 8 learners per cohort allowing for a learner centred approach, appropriate stretch and challenge and different communication styles. This approach also applies to functional skills and our enrichment and careers programmes and extends to a postcare package of up to 2 years. We are also proud to retain our Leaders in Safeguarding Quality Standard and our London Youth Gold Accredited Quality Mark.

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The Green Corridor (Limited by Guarantee)

For the year ending 31 December 2021

Why we do it

The impact of our intervention is predicated on achieving positive outcomes for young people in terms of onward destinations, high levels of sustained employment, more active participation in community life and increased independence and resilience. This is important from a social justice perspective as it is sadly still the case that whilst 60% of the UK population are in work, if you are an adult with a learning disability you only have a 6% chance of being in employment. Our activities are targeted at redressing this employment imbalance and we believe all our young people with special educational needs and learning disabilities are truly eligible beneficiaries in terms of the Charity Commission’s guidance on public benefit.

Future plans

In previous years it was felt that the Civil Aviation Authority’s decision on development for the third runway at Heathrow would impact our site plans; we now believe that our current location can be reconfigured to provide suitable accommodation for the short to medium term.

We do not believe that the number of EHCP referrals will increase to any significant degree in future; however, we are committed to ensuring that we provide an inspirational learning environment such that young people upon leaving are able to move into the working environment in as many instances as possible building on the results in 2021 and previous years.

The charity will in future be subject to oversight by Ofsted and we expect that it will be inspected over the next 12 to 24 months.

Over the last two years the income from volunteering activities has decreased given Covid restrictions; however, we plan to increase this in future.

The charity is committed to providing excellent outcomes for its learners. Green Corridor has developed very good relationships with local businesses and organisations who have provided work experience during a learner’s time with the charity. We will continue to develop these relationships in future.

Our staff

We would like to say a huge thank you to all GC staff for their exceptional commitment and hard work throughout 2021. This has resulted in continued referral from local authorities recognising the quality of the educational experience provided.

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The Green Corridor (Limited by Guarantee)

For the year ending 31 December 2021

Financial Review

The principal funding sources for the charity during 2021 came from fee-earned income of £1,298,662 (85% of our total income) from Education, Health and Care Plans, compared with £723,756 the previous year. This increase in fee-earned income is as a direct result of the charity’s strategy to increase the number of learners referred on Educational Health Care Plans from local authorities.

Income from donations and grants totalled £214,319 compared to £272,212 the previous year.

Expenditure of all our income is on activities centred on those whom we try to help as described above. All our charitable activities focus on linking young people with the environment around them, engaging them in volunteering, accredited training programmes and practical education opportunities to improve their self confidence and self esteem, increasing their chances of gaining skills and employment. They are undertaken to further our charitable purposes for public benefit.

Reserves and Investment Policies

The Board of Trustees has examined the charity’s requirements for reserves in light of the main risks to the organisation which include loss of donation income and loss of EHCP contracts. It has established a policy whereby our aim is for unrestricted funds not committed or invested in tangible assets held by the charity to be an equivalent to 6 months’ expenditure. Following the previous year, when we managed to turn a reasonable operating unrestricted surplus of £65,242, we delivered another healthy surplus in 2021 of £110,290. This resulted in an increased level of unrestricted reserves to £329,953, equivalent to just under 3 months’ unrestricted expenditure. Total reserves including funds restricted to a specific purpose are £341,732. Our strategy is to continue to build reserves through future operating surpluses but to also judiciously invest cash reserves to allow for sustained expansion of our services to accommodate up to 64 learners on our provision.

Risk Management

Trustees are responsible for overseeing the charity’s risk management activities. The Board effectively manages Green Corridor’s risks through a Strategic Risk Register which is a standing agenda item at termly board meetings.

Trustees collate strategic risks into key categories and direct the CEO to reduce these risks to as low as reasonably practicable in order to allow the charity to meet its objectives.

The Trustees have reviewed the major risks and are satisfied that all possible precautions have been taken to minimise them. Internal systems and procedures are in place to control all financial transactions and ensure that all activities comply with regulations covering the health and safety of learners, staff, volunteers and visitors.

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The Green Corridor (Limited by Guarantee)

For the year ending 31 December 2021

Statement of Trustees’ Responsibilities

The trustees (who are also directors of Green Corridor for the purposes of company law) are responsible for preparing the trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and to enable the trustees to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charitable company guarantee to contribute an amount not exceeding £1 to the assets of the charitable company in the event of winding up. The total number of such guarantees at 31 December 2021 was seven (2020: 7). Trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

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The Green Corridor (Limited by Guarantee)

For the year ending 31 December 2021

Auditor:

MG Group was appointed as the charitable company's auditor during the year.

The trustees’ annual report has been prepared in accordance with small companies regime under the Companies Act 2006.

Approved by the board on 21[st] September 2022 and signed on their behalf by

Ruth Kennedy (Chair)

Dated:21[st] September 2022

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The Green Corridor

Independent Auditor's Report to the Trustees of The Green Corridor

Opinion

We have audited the financial statements of The Green Corridor (the 'charity') for the year ended 31 December 2021, which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

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The Green Corridor

Independent Auditor's Report to the Trustees of The Green Corridor

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities (set out on page 9 ), the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

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Tho Grogn Corrldor Independent Audltorf8 Report to tho Tru•teo¥ of The Grnon Corridor Obtain an understanding of intemal control relevant to the audit kn order to de819n a￿lIt prc¢•4ures that are appmprrate in the Circumstances, bul not foT the puw of expre88ing ￿ oplnbn on the effectiven￿$ of the intemal cx)ntrd. Evaluate the approwtatena88 of aGwJnting poIKaes u8ed and the regsonatrAeness of accr￿nting e81imate8 and related disthsures made by the Iru8te8#. Condude on th8 appropriateness of the tN8te8S U8e ofthe going cOn￿M ba8is of accounting and, based on the audit evidence obtsined, whether a material uncertsinty exi8ts related to events or conditions that may ca8181gnif￿nf (loubt on the charty's abilty to continue a¥ a going concern. If eJ)nclude that a material uncrtainty exists, we ar8 required to dr￿ attention in our auditorf8 report lo the relatgd disclosure8 In the financial statenEnts or. rf such di8dosures are in&Jequale. to modlfy our opinvjn. COndus￿n5 are based on the audit evidénco obtained up to the date of our audilof8 repo￿ H¢y4¥ever, future events or condhlons may coL'se th• charity lo ¢oase to ccrfrttnue as 8 90ing cx)ncem. Evaluate the overall presentab'on, 8buctur• and content of the ffinandal statements, including the dischxures, and wthether the financial statements represent thé undety'ng transactions ¥nd events in a mannerthal ¥hwes fair wesentatp)n. Obtain sufficient appropriate audit evid8n( r8garding the financral inf(wmab'on of the gnliti88 or busin￿ ac11vit￿ within the charrty to expr8ss an opinK)n on the financial stslements. We arg rgsFonsible for the directlon, superb15ion and perfornnce of thé audrt. We rem8in re8pon8ible for our audit opinwjn. Wa rnmrnuniota with th08e charged wlth governance regarding. among other rnatte￿, the plannad scope and timing of the audil and Significant audit findings. induding any 8lgnlfK￿t defick?n(aeB in intomal control Ihat x idanlify during wr audiL U80 ol our v•port Th18 re￿￿ 18 made aoldy to the charitable compnls trustee$, as a body, in a(%ordanrA wNh Chapter 3 of Part 16 of the Companles ALt 2006. Our audlt work has been undertaken so that we mwhl 8Lite to tho Gharity trustees those maltW8 wo ate required to 8tate to them In 8n auditorfs report and for no other purpose. To the fvllesl exient pennlited by l•v, wè do not accept or assume responsibljty to anyon8 othèr than the charitable Ixmpany and trustse$ as a t<ty. for our audit work, forthis report. or forthe opinions vn have forned. G￿n Fem FCA jS8nior Statutory Audrtor) Forand bgh41 of MG Audit SeThlw Llmited, Statutory Audttor 166 Cdlege Road MMldle8ex Fk411BH 13

The Green Corridor (Limited by Guarantee)

Statement of Financial Activities (including Income and Expenditure Account) For the year ended 31 December 2021

Total Total
Unrestricted Restricted Funds Funds
Funds Funds 2021 2020
Income Notes £ £ £ £
Donations and legacies 3 137,250 77,069 214,319 272,212
Interest received 77 - 77 375
Charitable activities 4 1,300,043 - 1,300,043 743,724
Total income 1,437,370 77,069 1,514,439 1,016,311
Expenditure: 5
Raising funds 20,281 - 20,281 22,389
Charitable activities 1,306,799 115,883 1,422,682 951,652
Total expenditure 1,327,080 115,883 1,442,963 974,041
Net income/(expenditure) before
disposal of fixed assets 110,290 ( 38,814) 71,476 42,270
Disposal of fixed assets
Net income/(expenditure) and net movement in
funds for the year 110,290 ( 38,814) 71,476 42,270
Reconciliation of funds
Total funds brought forward 219,663 50,593 270,256 227,986
Total funds carried forward £ 329,953
 £ 11,779
 £ 341,732
 £ 270,256

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities.

The statement of financial activities complies with the requirements for an income and expenditure account under the Companies Act 2006.

The notes on pages 10 to 23 form part of these accounts.

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The Green Corridor (Limited by Guarantee)

Balance Sheet As at 31 December 2021

Note
Fixed assets
Tangible Assets
9
Current assets
Debtors
10
Cash at bank and in hand
Liabilities:
Creditors: Amount falling due within one year
11
Net current assets / (liabilities)
Net assets
The funds of the charity:
13
Restricted income funds
14
Unrestricted income funds
14
General reserve
Total charity funds
£
558,893
272,053		 2021
2020

£
£
£
200,279
74,038
112,043
167,347
279,390
( 83,172)
141,453
196,218
341,732
270,256
11,779
50,593
329,953
219,663
341,732
270,256
830,946
689,493)
(

The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with sections 386 and 387 of the Act and for preparing accounts which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The notes on pages 10 to 23 form part of these accounts.

The accounts were approved by the Board on 21st September 2022.

.............................. Ruth Kennedy (Chair) Trustee Charity Registration No. 1092093 Company Registration No. 04267457

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The Green Corridor (Limited by Guarantee)

Statement of cash flows For the year ended 31 December 2021

Note 2021 2020
£ £
Cash flows from operating activities A 294,430 119,653
Cash flows from investing activities
Interest 77 375
Purchase of fixed assets (189,801) (58,648)
Net cash provided by/(used in) investing activities (189,724) (58,273)
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year 167,347 105,967
Cash and cash equivalents at the end of the year 272,053 167,347
(A) Reconciliation of net income to net cash flow from operating activities:
2020 2020
£ £
Net income / (expenditure) for reporting period (as per
statement of financial activities) 71,476 42,270
Interest received (77) (375)
Depreciation charge 63,560 36,491
(Profit)/loss on the disposal of fixed assets - -
(Increase)/decrease in debtors (446,850) 167,209
Increase/(decrease) in creditors 606,321 (125,942)
Net cash used in operating activities A 294,430 119,653
2021 2020
£ £
Analysis of cash and cash equivalents
Cash at bank and in hand 272,053 167,347

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The Green Corridor (Limited by Guarantee)

Notes to the financial statements for the year ended 31 December 2021

1 Statutory information

The Green Corridor is a charitable company limited by guarantee, registered in England and Wales. The registered office and principle place of business is Stanwell Moor Road, Staines-upon-Thames, Middlesex, TW19 6BS. The functional currency is sterling.

2 Accounting policies

a Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), (Charities SORP FRS 102) and the Companies Act 2006.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

b Public benefit entity

The Green Corridor meets the definition of a public benefit entity under FRS102.

c Going concern

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next reporting period. There are no material uncertainties about The Green Corridor’s ability to continue as a going concern and the charitable company can comfortably operate based on confirmed funding with sufficient reserves.

d Income

All incoming resources are included in the Statement of Financial Activities when the charitable company is legally entitled to the income, it is probable the income will be received and the amount can be quantified with reasonable accuracy. The following specific policies apply to particular categories of income:

Where donations and grants are restricted to future accounting periods, they are deferred and recognised in those future accounting periods. Grants for immediate financial support and assistance, or to reimburse costs previously incurred, are recognised immediately.

Income from charitable activities comprises training, educational and volunteer programmes which are included when receivable. Charitable activities also includes commissioned work carried out by The Green Corridor staff and learners and grants awarded for activities undertaken by the charitable company's project partners.

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution. On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

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The Green Corridor

(Limited by Guarantee)

Notes to the financial statements for the year ended 31 December 2021: continued

e Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

f Expenditure and basis of apportioning costs

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis with the irrecoverable element of VAT included with the item to which it relates and has been classified under headings that aggregate all costs related to the category.

The allocation basis is reviewed annually and has been updated as follows:

30% of the CEO's time is allocated to governance, 30% to support costs including organisational development, with 40% allocated to education, training and employment development and managing frontline staff.

50% of the Marketing & HR Officer is allocated to raising funds and 50% to support.

100% of the Administrator role is allocated to support.

100% of the Premises Staff are allocated to support.

Telephone, insurance, payroll, utilities & security are fully allocated to support.

Accountancy is allocated 50% to governance and 50% to support

The balance of staff costs and other costs are allocated directly to the frontline delivery of education, training and employment of young people.

Payments to partners working on specifically funded projects have been disclosed separately in the Statement of Financial Activities and allocated to the period in which the expenditure is incurred.

g Tangible fixed assets and depreciation

The charitable company operates a policy of capitalising fixed asset items over £1,000. Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life. The principal annual rates used for this purpose are:

Plant and machinery 25% on cost Kitchen 25% on cost PortaCabins 33% on cost Computer Equipment 33% on cost Motor vehicles 25% on cost Site improvements & internal building works 25% on cost

h Leasing and hire purchase commitments

Rentals applicable to operating leases where substantially all the benefits and risks of ownership remain with the lessor are charged on a straight line basis over the lease term.

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The Green Corridor (Limited by Guarantee)

Notes to the financial statements for the year ended 31 December 2021: continued

i Pensions

The charitable company now operates an Auto Enrolment defined contribution pension scheme and makes contributions equivalent to a minimum of 3% of gross salaries on behalf of its employees. Contributions are charged to the Statement of Financial Activities as they are incurred. The charitable company has no liability under the scheme other than for the payment of those contributions.

j Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments. The trustees seek to use short term deposits to maximise the return on monies held at the bank and to manage cash flow.

k Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

l Creditors and provisions

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

m Debtors

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

n Fund accounting

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

o Fundraising

The Green Corridor doesn't use 3rd party fundraising organisations. Funds are raised through grants from Trusts, Foundations and Government grants and contracts. A small amount of donations and funds raised are received from individuals and from sales of products made in the course of charitable activities.

19

The Green Corridor

(Limited by Guarantee)

Notes to the financial statements for the year ended 31 December 2021: continued

3 Donations and legacies Unrestricted Restricted Total
2021
£ £ £
Heathrow Airport Ltd Core grant 5,000 5,000
Heathrow Airport Ltd Gift in Kind - building
services 75,000 75,000
Heathrow Airport Ltd Gift in Kind -
horticultural land 25,000 25,000
Other donations 32,250 32,250
Big Lottery 47,025 47,025
Heathrow Airport Ltd - CVP support 1,250 1,250
Thames Water 2,640 2,640
CVP Crane Valley Partnership 7,500 7,500
Environment Agency 1,875 1,875
Partner funding - CVP project pass through
funding 11,779 11,779
Lloyds Bank Foundation 5,000 5,000
137,250 77,069 214,319
Donations and legacies - prior year comparative 2020
£ £ £
Heathrow Airport Ltd Core grant 5,000 - 5,000
Heathrow Airport Ltd Gift in Kind - building
services 75,000 - 75,000
Heathrow Airport Ltd Gift in Kind -
horticultural land 20,000 - 20,000
Other donations 2,478 - 2,478
Big Lottery - 92,890 92,890
Heathrow Airport Ltd - CVP support - 5,000 5,000
Thames Water - 10,000 10,000
CVP Crane Valley Partnership - 28,750 28,750
Environment Agency - 7,500 7,500
Lloyds Bank Foundation - 20,000 20,000
Paddington Devt Trust - 5,594 5,594
102,478 169,734 272,212
4 Income from charitable activities Unrestricted Restricted Total
2021
£
Income from Education Health Care Plans 1,298,662 - 1,298,662
Corporate volunteer days and other 1,000 - 1,000
Fundraising sales 381 - 381
1,300,043 - 1,300,043
Income from charitable activities - prior year comparative 2020
£ £ £
Income from training provision 2,455 - 2,455
Income from Education Health Care Plans 723,756 - 723,756
Corporate volunteer days and other 16,907 - 16,907
Fundraising sales 606 - 606
743,724 - 743,724

20

The Green Corridor (Limited by Guarantee)

Notes to the financial statements for the year ended 31 December 2021: continued

5 Analysis of expenditure

Staff costs
Direct project
costs
Staff training
Audit fees
Trustee related
Depreciation
Payments to
partners
Gift in Kind
Volunteer
expenses
Premises
Covid specific
costs
Other costs
Support costs
Governance costs
Total expenditure
2021		 Cost of raising
funds
Education
Training
Employment
CVP
Partnership
Governance
costs
Support
costs
2021 Total
£
£
£
£
£
£
15,694
722,736
-
20,410
126,414
885,254
230,777
11,164
241,941
21,681
21,681
4,800
4,800
2,552
2,552
63,560
63,560
-
100,000
100,000
137
137
16,967
1,883
18,850
4,922
4,922
1,146
9,365
10,543
78,212
99,266
Charitable activities
16,840
1,170,145
11,164
38,305
206,509
1,442,963
2,813
195,434
1,865
6,398
(206,509)
-
628
43,837
238
(44,703)
-
-

20,281
1,409,416
13,265
-
-
1,442,963

Of the total expenditure: Unrestricted Restricted Total 2021 £ 1,327,080 £ 115,883 £ 1,442,963 2020 £ 781,335 £ 192,706 £ 974,041

21

The Green Corridor (Limited by Guarantee)

Notes to the financial statements for the year ended 31 December 2021: continued

5 Analysis of expenditure - prior year comparative

.
Staff costs
Direct project
costs
Staff training
Audit fees
Trustee related
Depreciation
Payments to
partners
Gift in Kind
Volunteer
expenses
Premises
Covid specific
costs
Other costs
Support costs
Governance costs
Total
expenditure 2020		 Cost of raising
funds
£
11,613
-
-
-
-
-
-
-
7,585
Education
Training
Employment
CVP
Partnership
Governance
costs
Support
costs
2020 Total
£
£
£
£
£
458,010
-
19,833
42,563
532,019
170,039
29,568
3,703
16,692
220,002
7,575
7,575
-
-
5,120
-
5,120
-
-
1,162
-
1,162
32,959
-
-
3,532
36,491
-
-
-
-
-
95,000
-
-
-
95,000
-
-
-
-
-
5,563
5,563
12,382
12,382
4,934
-
-
46,208
58,727
Charitable activities
19,198
2,419
772		 786,462
29,568
29,818
108,995
974,041
99,093
3,726
3,757
(108,995)
-
31,615
1,189
(33,575)
-
-
22,389 917,170
34,481
-
-
974,041

22

The Green Corridor (Limited by Guarantee)

Notes to the financial statements for the year ended 31 December 2021: continued

6 Net income for the year

The net income for the year is stated after charging:

The net income for the year is stated after charging:
Depreciation of tangible fixed assets owned by
the charitable company
Operating lease rentals; equipment
Independent Examination
Audit
7
Staff costs
Staff costs during the year were:
Salaries and wages
Social Security costs
Other pension costs		 2021
2020
£
£
63,560
36,491
271
271
-
0
4,800
5,120
2021
2020
£
£
800,834
482,831
66,427
38,760
17,993
10,428
885,254
532,019

Number of employees

The average monthly number of employees during the year was:

2021 2020
Training 30 17
Other 3 2

There were no employees whose annual remuneration was £60,000 or more.

The key management personnel of the charitable company included the Trustees and Chief Executive Office. Total employee benefits paid to key management personnel including NIC and pension were £68,033 (2020: 64,000).

23

The Green Corridor (Limited by Guarantee)

Notes to the financial statements for the year ended 31 December 2021: continued

8 Comparative Funds - Statement of Financial Activities for the Year Ended 31 December 2020

Income
Notes
Donations and legacies
3
Interest received
Charitable activities
4
Total income
Expenditure:
5
Raising funds
Charitable activities
Total expenditure
Net income/(expenditure) before disposal of fixed assets
Disposal of fixed assets
Net income/(expenditure) and net movement in
funds for the year
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Total
Unrestricted Restricted
Funds
Funds
Funds
2020
£
£
£
102,478
169,734
272,212
375
-
375
743,724
-
743,724
846,577
169,734
1,016,311
22,389
-
22,389
758,946
192,706
951,652
781,335
192,706
974,041
65,242
22,972)
(
42,270
65,242
22,972)
(
42,270
154,421
73,565
227,986
219,663
£
50,593
£
270,256
£

24

The Green Corridor (Limited by Guarantee)

Notes to the financial statements for the year ended 31 December 2021: continued

9 Tangible fixed assets

Cost:
At 1 January 2021
Additions at cost
Disposals
At 31 December 2021
Depreciation:
At 1 January 2021
Charge for year
On disposals
At 31 December 2021
Net book value:
At 31 December 2021
At 31 December 2020		 Computer
Equipment
Plant &
Machinery
Motor
Vehicles
Kitchen
Site
Total
£
£
£
£
£
£
42,471
61,782
20,919
78,254
203,426
18,157
87,958
-
-
83,686
189,801
(16,774)
(1,202)
-
-
-
(17,976)
43,854
148,538
20,919
78,254
83,686
375,251
28,490
19,906
17,411
63,581
129,388
11,449
27,128
3,508
14,673
6,802
63,560
(16,774)
(1,202)
-
-
-
(17,976)
23,165
45,832
20,919
78,254
6,802
174,972
20,689
102,706
-
-
76,884
200,279
13,981
41,876
3,508
14,673
-
74,038

25

The Green Corridor (Limited by Guarantee)

Notes to the financial statements for the year ended 31 December 2021: continued

10
Debtors
Due within one year:
Trade debtors
Accrued income and other debtors
Prepayments
11
Creditors
Amounts falling due within one year:
Trade creditors
Social Security and other taxes
Pension
Other creditors
Accruals
Deferred income
12
Analysis of net assets between funds
Fund Balances at 31 December 2021 are
Tangible Fixed Assets
Current Assets
Total net assets
13
Analysis of net assets between funds -
Fund Balances at 31 December 2020 are
Tangible Fixed Assets
Current Assets
Total net assets
Creditors: Amounts falling due within one
year
Creditors: Amounts falling due within one
year		 2021
2020
£
£
551,901
72,622
1,350
36,033
5,642
3,388
558,893
112,043
2021
2020
£
£
40,955
21,829
25,271
13,742
5,157
2,623
78
78
19,170
29,275
598,862
15,625
689,493
83,172
Unrestricted
Restricted
Total
Funds
Funds
Funds
£
£
£
represented by:
200,279
-
200,279
819,167
11,779
830,946
(689,493)
-
(689,493)		 2021
2020
£
£
551,901
72,622
1,350
36,033
5,642
3,388
558,893
112,043
2021
2020
£
£
40,955
21,829
25,271
13,742
5,157
2,623
78
78
19,170
29,275
598,862
15,625
689,493
83,172
329,953
11,779
341,732
comparative 2020
Unrestricted
Restricted
Total
Funds
Funds
Funds
£
£
£
represented by:
59,366
14,672
74,038
243,469
35,921
279,390
(83,172)
-
(83,172)
219,663
50,593
270,256

26

The Green Corridor (Limited by Guarantee)

Notes to the financial statements for the year ended 31 December 2021: continued

14 Funds

The income funds of the charity include restricted and unrestricted funds comprising the following unexpended balances of donations and grants held on trust:

Restricted Funds
Project partner funding
Crane Valley Partnership
Thames Water Legacy
Pick, Cook, Serve
Mint
Partner funding - Crane Valley
restoration
Lloyds
Paddington Development Trust
Total Restricted Funds
Unrestricted funds:
General funds
Total funds		 At
Incoming
Outgoing
At
01-Jan
31-Dec
2021
2021
£
£
£
£
12,400
12,400)
(
-
-
13,265
13,265)
(
-
4,800
-
4,800)
(
-
30,347
47,025
77,372)
(
-
-
-
-
-
3,046
11,779
3,046)
(
11,779
-
5,000
5,000)
(
-
-
-
-
-
50,593
77,069
(115,883)
11,779
219,663
1,437,370
(1,327,080)
329,953
270,256
1,514,439
(1,442,963)
341,732

Restricted Funds - description

Crane Valley Partnership : Ongoing funding to support the post of CVP Development Manager, from Local Authorities, Thames Water, Environment Agency, Heathrow Airport Ltd. In April 2021 the CVP became a CIO in its own right and ceased to be a project run by Green Corridor

Thames Water Legacy: Final funding from Thames Water to evaluate and co-ordinate the lasting legacy from the Thames Water funding.

Pick, Cook, Serve : funding to enable GC to increase our offer with a catering qualification, encouraging learners to understand the relationship between growing, cooking and serving food. Supported by Big Lottery, Bernard Sunley Foundation and Heathrow Airport Ltd. The funding ended in August 2021. The project successfully continues as part of Green Corridor's core offering.

Lloyds: funding to support the CEO role during the development of the organisation and 5 year business plan. The funding ended in March 2021.

Partner funding - Crane Valley restoration: restoration project funded by Environment Agency and

carried out by a partner.

Partner funding - funding received to support Green Corridor expansion.

27

The Green Corridor

(Limited by Guarantee)

Notes to the financial statements for the year ended 31 December 2021: continued

15 Funds - comparative 2020

The income funds of the charity include restricted and unrestricted funds comprising the following unexpended balances of donations and grants held on trust:

Restricted Funds
Project partner funding
Crane Valley Partnership
Thames Water Legacy
Pick, Cook, Serve
Mint
Partner funding - Crane Valley
restoration
Lloyds
Paddington Development Trust
Total Restricted Funds
Unrestricted funds:
General funds
Total funds		 At
Incoming
Outgoing
At
01-Jan
31-Dec
2020
2020
£
£
£
£
12,400
-
-
12,400
-
51,250
(51,250)
-
4,800
-
-
4,800
49,524
92,890
(112,067)
30,347
3,743
-
3,743)
(
-
3,098
-
(52)
3,046
-
20,000
20,000)
(
-
-
5,594
(5,594)
-
73,565
169,734
(192,706)
50,593
154,421
846,577
(781,335)
219,663
227,986
1,016,311
(974,041)
270,256

28

The Green Corridor (Limited by Guarantee)

Notes to the financial statements for the year ended 31 December 2021: continued

16 Taxation

The charitable company is registered as a charity and all of its income falls within the exemptions under Part 11 of the Corporation Tax Act 2010.

17 Related parties

There are no related party transactions to disclose for 2021 (2020: none).

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

18 Trustees

None of the trustees (or any person connected with them) received any remunerations from the charity during the year. No reimbursements were made to trustees in 2021 (2020: £nil) for travelling and other expenses and no payments were made direct to third parties.

19 Pension and other post-retirement benefit commitments

Defined contribution 2021 2020
£ £
Contributions payable by the charitable company for the year 17,993 10,428

At 31 December 2021 £5,157 was outstanding, paid in January 2021 (2020: £2,622).

20 Operating lease commitments

The charitable company's total future minimum lease payments under non-cancellable operating leases is as follows for each of the following periods

Equipment
Less than one year
One to five years		 2021
2020
£
£
245
271
796
-

21 Contingent assets or liabilities

There are no contingent assets or liabilities at December 2021 (2020:Nil).

22 Professional indemnity insurance

The charitable company has insurance to protect it from loss arising from the neglect or defaults of its Trustees, employees and agents and to indemnify the Trustees or other officers against the consequences of any neglect or default on their part. The insurance premium paid by the charitable company during the year totalled £490 (2020: £336).

23 Liability of members

The Green Corridor is a company limited by guarantee and has no share capital. In the event of the company being wound up, the liability of the members is limited to £1 each.

24 Ultimate controlling party

The charitable company was under the control of the Trustees during the period under review. There is no single ultimate controlling party.

29