Annual Report and
Financial Statements for the year ending 31[st] December 2022
‘Green Corridor is the environment [the learner] has loved the most in all his education’
~~Parent During Annual Review~~
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Contents
About Green Corridor...........................................................................................................................................................4 Vision................................................................................................................................................................................4 Mission.............................................................................................................................................................................4 How we work....................................................................................................................................................................4 2022 – A year of Change and Growth...................................................................................................................................5 Subsequent Events...............................................................................................................................................................6 Trustees................................................................................................................................................................................7 Key management personnel.............................................................................................................................................7 Registered office and operational address:......................................................................................................................7 Web address and phone number:....................................................................................................................................7 Auditor..............................................................................................................................................................................7 Bankers.............................................................................................................................................................................7 Solicitors...........................................................................................................................................................................7 Trustees Statement..............................................................................................................................................................8 Structure, Governance and Management............................................................................................................................8 Governing Document........................................................................................................................................................8 Recruitment, Retirement, Appointment, Induction and Training of New Trustees..........................................................8 Organisational Structure and Decision Making.................................................................................................................9 Future Plans..........................................................................................................................................................................9 Our Staff..............................................................................................................................................................................10 Remuneration Statement...................................................................................................................................................10 Compliance with Fundraising Standards.............................................................................................................................11 Reserves and Investment Policies...................................................................................................................................13 Risk Management...........................................................................................................................................................13 Statement of Trustees’ Responsibilities..........................................................................................................................13 Trustee Remuneration....................................................................................................................................................14 Auditor............................................................................................................................................................................14 Statement of Financial Activities.........................................................................................................................................18 Balance Sheet.....................................................................................................................................................................19 Statement of Cash Flows....................................................................................................................................................20 Notes to the financial statements.......................................................................................................................................21
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Trustees Report
About Green Corridor
Green Corridor is a charity that runs an independent learning provision for learners aged 16-25 with an Education Health and Care Plan (EHCP). We specialise in Autism, working with about 50 learners on our site in Stanwell Moor, near Heathrow Terminal 5. Many of our learners have additional therapy funded through their EHCP, with about half having either Occupational Therapy or Speech and Language Therapy or both. We offer learners either Horticulture or Catering pathways, alongside a functional skills and careers curriculum. We also offer every learner an enrichment programme and work experience with local businesses and organisations to prepare our learners to take their next step – going into employment, a supported internship or social care.
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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Improve access for disadvantaged 16-25 year-olds to education, training and employment through practical horticulture and catering skills;
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Change perceptions to increase employment opportunities for young people with special educational needs and learning difficulties; and
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Connect our young people with their local communities by increasing and integrating volunteering activities into our learning programmes to promote the benefits of growing your own and healthy eating to all participants.
How we work
At Green Corridor we are proud of our learner-centred approach which allows us to tailor pathways and approaches that best suit the individual learner. From careful consideration of their needs through to specific work experience based on their interests and preferences, we know that what we provide makes a real difference to the learners’ lives. We use the statutory annual review process to review both progress and our own work. We also use it to plan for the learners’ future. Our high-quality, accredited, vocational learning is done in small class sizes of no more than 8, allowing for appropriate stretch and challenge and different communication styles. This approach also applies to functional skills and our enrichment and careers programmes. We are also proud to ‘Green Corridor changed [my retain our Leaders in Safeguarding Quality son’s] life’ Standard and our London Youth Gold Accredited Quality Mark.
Green Corridor’s unique approach means that our learners come from a wide distance – and during 2022 we worked with 10 Local Authorities (2021: 11) as far away as High Wycombe and Hammersmith and Fulham. We
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specialise in working with young people who haven’t achieved a GCSE prior to attending Green Corridor, but who have a ‘demonstrable ability to learn’.
Safeguarding
Safeguarding is a key foundation of the work at Green Corridor, and the Trustees work hard to ensure that a robust policy is in place and is followed at all times. The Board receives a Safeguarding Report at each meeting, and a named Trustee has responsibility to visit regularly to satisfy himself that Green Corridor comply with the policy. The Trustees review the number of safeguarding incidents, the number of serious incidents reported to the Local Authority and visits to dip test both the record keeping and processes. The CEO and Chair regularly review the Single Central Record to ensure that all staff and visitors are compliant with the safer recruitment policy of the Board.
2022 – A year of Change and Growth
2022 was a year marked by a rapid expansion in our offering to learners, with learner numbers (and therefore associated income) growing rapidly between the end of the academic year in August 2022 and the beginning of the next Academic year in September 2022. Our numbers on roll increased from 43 in August 2022 to 48 by December 2022, and associated income went from £1,514,439 (2021) to £2,386,759(2022).
This growth has not been without its challenges – with the site needing to be reconfigured with new teaching rooms (increasing from 9 rooms in 2021 to 13 in 2022), 2 new therapy spaces, moving the horticulture beds and catering spaces, alongside rapid recruitment of staff and deploying new systems and processes.
The initial plans for expansion included a plan to widen the levels of need that Green Corridor admitted to their programmes, including admitting a number of learners who also needed personal care, who used a wheelchair and other higher-level needs. This required adaptions to the site, including the addition of a suitable disabled toilet and showering facilities, ramps to 3 classrooms and additional staff training.
Green Corridor continued to change and adapt to the different funding landscape – with local authorities changing their procurement processes and funding needs this has meant taking on a full-time admissions officer during the year to manage the admissions process from enquiry through to induction and invoicing.
As noted in last year’s annual report under ‘Subsequent events’ during the year Tim Knight left as CEO in June 2022 and was replaced by Henrick Winter-Olsten as interim CEO.
Learners’ Destinations 2022
We carefully track the destinations of the learners who leave Green Corridor – and we work hard to ensure that they have a positive destination when they leave us. Broadly learners end up in 1 of 4 different destinations: Direct Employment, Supported Internship, Further Study (at another provider) or Social Care. Our leavers in 2022 went on to things that include working in the kitchen of a pub, working on a farm, supported internships with a local hotel group or local authority provided social care. We keep in touch with learners after they have left, and many enjoy popping back over the summer and beyond as they see Green Corridor as home from home. We employ a Careers Adviser specifically to work with learners during their time here to help them make the best move for them after they leave. Our 2022 destinations were:
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----- Start of picture text -----
Unknown 1
Apprenticeship 1
Inclusion project
Supported
3 Internship 7
Further Study 3
Employment 3
----- End of picture text -----
Subsequent Events
Since the period covered by this report, the additional ‘life skills’ class of 4 learners has proved unsuited to the provision and the site, and a decision was taken to discontinue this provision from July 2023.
Henrick Winter-Olsten (interim CEO) left the organisation in January 2023 and David Welch was appointed as permanent CEO from February 2023.
Nicola Leonard resigned as a trustee on 17[th] June 2023.
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Reference and Administrative Information
Company number Charity number
04267457 incorporated in England & Wales
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) Arnie Wickens Raymond Elgy [resigned 24 Jan 2022] Nicola Leonard [appointed 24 Jan 2022] Nigel Fishwick (Vice Chair) Nicole Jennings [appointed 24 Jan 2022] Amanda Owen Gareth Hughes Ashley de Safrin
- Key management personnel Tim Knight: Chief Executive Officer (left 30[th] June 2022) Henrick Olsten-Winter Interim CEO (left Jan 2023) David Welch: Chief Executive Officer (from 20[th] Feb 2023) Sophie Rolfe: Director of Education (left 31[st] August 2022) Tim Whitelaw: Head of Education (from 17[th] April 2023)
Registered office and operational address: Green Corridor, Main Road Nurseries, Stanwell Moor Road, Staines-upon-Thames TW19 6BS Web address and phone number: www.greencorridor.org.uk 01753 687236 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, Gosforth West Malling Newcastle upon Tyne Kent NE3 4PL ME19 4JQ Solicitors Russell-Cooke Solicitors 2 Putney Hill
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Greencorrid London SW15 6AB
Trustees Statement
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 2022.
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 9th 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 7th 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 re- election.
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.
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 (normally quarterly) 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.
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Organisational Structure and Decision Making.
A scheme of delegation is in place and day-to-day responsibility for the provision of the services rests 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 conducts regular reviews of the major risks to which the charity is exposed. A strategic risk register 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, learners and visitors. These procedures are periodically reviewed to ensure that they continue to meet the needs of the charity. The Board of Trustees met 4 times during 2022 for formal business meetings.
‘Thank you. [my daughter] has become a different person. I had no idea how much she would grow at Green Corridor. Thank you. Thank you. Thank you.’
Future Plans
We are committed to ensuring that we provide an inspirational learning environment such that young people upon leaving are able to move on to positive destinations. The number of EHCPs is increasing nationally and the demand for places remains strong. We are committed to continuing to provide the highest quality provision and as such to balance this with the number of learners who we offer places to. The Board is exploring future options for working with learners both during and beyond education, potentially using social enterprise or other models to offer further opportunities to our learners and others within our area of expertise.
We plan to review our vision and mission during 2023 in the light of the recent growth and change that Green Corridor has experienced. The site lease is expected to be renewed during 2023, and this will give certainty to the Board for the medium term.
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The charity is registered with Ofsted (number: 146362) and we envisage that we will be inspected during 2023 or early 2024.
Our Staff
We would like to thank all our staff who have worked tirelessly to deliver excellent results for our learners. Rebuilding the provision after the challenges of the pandemic that began in 2021 has taken a lot of work, and the Trustees would like to thank them for their dedication and hard work. We would also like to thank Kathy Moss who has been invaluable in providing accountancy support for the last few years. She stepped down during 2023.
‘[My Son] made more progress this year than in the previous ten. It’s changed all our lives.’ P t f L hil t i ki t th d f th
Our Partners and Funders
Our work would not be possible without the partners that have worked with us throughout the year, including our Landlord: Heathrow Airport Limited (HAL), Local Authorities, the Heathrow Community Trust, HSS limited and the individuals and companies that have donated funds or time to our work. Thank you.
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 is critical that these monies are spent wisely and always to the benefit of our learners to ensure we deliver a high quality and value for money service. To do this in the year to December 2022 we employed 51 staff (2021 – 33) who provide the essential tutelage and support services to deliver our education, training and employment services. Staff costs of £1,362,373 (2021:
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£885,254) including salaries, pension and national insurances contributions) make up the largest proportion of the annual cost of running Green Corridor (circa 57%). The charity has undertaken a benchmarking exercise and will look to ensure salaries are in line with median pay points for the sector.
Complaints
A total of 2 complaints were received by the Board during 2022 through the Whistleblowing and Grievance policies (2021: 0). This is an increase of 2 from last year. Both complaints have been concluded following independent investigations run by external specialists, independent to the Board and staff in line with board policy. Complaints were responded to in a timely manner and are now resolved. The Board has worked hard to ensure that they learnt lessons from the process and are confident their procedures are robust and fit for purpose.
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.
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Greencorrid
Financial Review
The principal funding sources for the charity during 2022 came from fee-earned income of £1,838,425 (2021: £1,298,662) which was 77% of total income (2021: 85%) from Education, Health and Care Plans. 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 remains lower than historic trends due to the continued impact of Covid at 125,099 (2021: £214,319).
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 selfconfidence and self-esteem, allowing them to move on to positive destinations after their time with us – either direct employment, a supported internship or social care.
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. The Board continues to grow its unrestricted reserves in line with policy to an equivalent of 6 months’ expenditure. This year our surplus of £266,508 (2021: £110,290) means that our reserves stand at £596,461 which is 3.3 months’ of expenditure. Total reserves including funds restricted to a specific purpose are £599,274. 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 in 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 Board meetings.
Trustees collate strategic risks into key categories and continue to 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.
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:
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Select suitable accounting policies and then apply them consistently;
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Observe the methods and principles in Charities SORP;
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Make judgments and estimates that are reasonable and prudent;
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State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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- Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the company will continue in operation.
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:
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There is no relevant audit information of which the charitable company’s auditor is unaware;
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The Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
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 2022 was seven (2021: 7). Trustees are members of the charity but this entitles them only to voting rights. The Trustees have no beneficial interest in the charity.
Trustee Remuneration
No Trustees were paid for their work as Trustees, and the amount of Trustee expenses paid during the year was £2315.
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 27[th] September 2023 and signed on their behalf by
Ruth Kennedy
(Chair)
Dated:27th September 2023
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Independent Auditor’s Report to the Trustees
Opinion
We have audited the financial statements of The Green Corridor (the ‘charitable company’) for the year ended 31st December 2022 which comprise the Statement of Financial Activities, the Balance Sheet, Statement of Cash Flow and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
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give a true and fair view of the state of the charitable company’s affairs as at 31st December 2022 , and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Companies Act 2006.
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 charitable company 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.
In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the Trustees’ annual report, other than the financial statements and our auditor’s report thereon. The Trustees are responsible for the other information contained within the annual report. 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.
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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.
We have nothing to report in this regard.
Matters on which we are required to report by exception.
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
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the information given in Trustees’ report is inconsistent in any material respect with the financial statements.
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Sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of Trustees
As explained more fully in the Trustees’ responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) 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 charitable company’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 charitable company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.
Our audit procedures included a range of substantive tests, analytical procedures, and risk assessments that were tailored to the specific characteristics of the charity and its operational environment. We assessed the risk of material misstatement due to fraud, including the risk of management override of controls, and designed our audit procedures accordingly. However, the following factors affect the extent to which fraud may be detected:
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There are inherent limitations in any audit, including the risk that some fraud may go undetected due to the limitations of audit procedures and the ability of individuals to override controls or manipulate accounting records.
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The detection of fraud often requires the exercise of professional judgment, including the consideration of indicators, circumstances, and patterns that may suggest fraudulent activities.
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Fraudulent activities may involve collusion among individuals within the charity, and efforts to conceal such activities can make detection challenging.
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Our audit procedures are designed to focus on material misstatements. Therefore, smaller irregularities or instances of fraud that do not individually or collectively meet the materiality threshold may not be detected.
Despite these limitations, we conducted our audit in accordance with the International Standards on Auditing (UK) issued by the Financial Reporting Council (FRC) and followed ethical standards. We have no reason to believe that material irregularities or fraud, if they exist, have not been appropriately disclosed or addressed by the charity's management.
As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting
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from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
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Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the charitable company’s internal control.
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Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Trustees.
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Conclude on the appropriateness of the Trustees’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitable company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charitable company to cease to continue as a going concern.
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Evaluate the overall presentation, structure, and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation (i.e., gives a true and fair view).
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
A further description of our responsibilities is available on Financial Reporting Council’s website at: htps://www.frc.org.uk/our-work/Audit/Audit-and-Assurance/standards-and-guidance/Standards-and-guidance-forauditors/Auditors-responsibilites-for-audit/Descripton-of-auditors-responsibilites-for-audit.aspx. This Description forms part of our auditor’s report.
Use of our report
This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
……………………………….
MG Group (Statutory Auditor)
166 College Road
Harrow
HA1 1BH
Date: 29/09/23
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Financial Report
Statement of Financial Activities
Including Income and Expenditure Account, for the year ended 31[st] December 2022
| Statement of Financial Activities | Statement of Financial Activities | |||||
|---|---|---|---|---|---|---|
| (including Income and Expenditure Account) | ||||||
| For theyear ended 31 December 2022 | ||||||
| Total | Total | |||||
| Unrestricted | Restricted | Funds | Funds | |||
| Funds | Funds | 2022 | 2021 | |||
| Income | Notes | £ | £ | £ | £ | |
| Donations and legacies | 3 | 122,286 | 2,813 | 125,099 | 214,319 | |
| Interest received | 989 | - | 989 | 77 | ||
| Charitable activities | 4 | 2,260,671 | - | 2,260,671 | 1,300,043 | |
| Total income | 2,383,946 | 2,813 | 2,386,759 | 1,514,439 | ||
| Expenditure: | 5 | |||||
| Raisingfunds | 27,834 | - | 27,834 | 20,281 | ||
| Charitable activities | 2,089,604 | 11,779 | 2,101,383 | 1,422,682 | ||
| Total expenditure | 2,117,438 | 11,779 | 2,129,217 | 1,442,963 | ||
| Net income/(expenditure) before disposal of fixed assets |
266,508 | (8,966) | 257,542 | 71,476 | ||
| Disposal of fixed assets | ||||||
| Net income/(expenditure) and net movement | in | |||||
| funds for theyear | 266,508 | (8,966) | 257,542 | 71,476 | ||
| Reconciliation of funds | ||||||
| Total funds brought forward | 329,953 | 11,779 | 341,732 | 270,256 | ||
| Total funds carried forward | 596,461 £ |
2,813 £ |
599,274 £ |
341,732 £ |
||
| The statement of financial activities includes allgains and losses recognised in theyear. All | ||||||
| income and expenditure derives from continuingactivities. | ||||||
| The statement of financial activities complies with the requirements for an income and expenditure | ||||||
| account under the Companies Act 2006. | ||||||
| The notes onpages 10 to 23 formpart of these accounts. |
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Balance Sheet
| As at 31 December 2022 | |||||||
|---|---|---|---|---|---|---|---|
| Note | 2022 | 2021 | |||||
| £ | £ | £ | £ | ||||
| Fixed assets | |||||||
| Tangible Assets | 9 | 282,691 | 200,279 | ||||
| Current assets | |||||||
| Debtors | 10 | 338,007 | 558,893 | ||||
| Cash at bank and in hand | 105,744 | 272,053 | |||||
| 443,751 | 830,946 | ||||||
| Liabilities: | |||||||
| Creditors: Amount fallingdue within oneyear | 11 | 127,168) ( |
( 689,493) | ||||
| Net current assets /(liabilities) | 316,583 | 141,453 | |||||
| Net assets | 599,274 | 341,732 | |||||
| The funds of the charity: | 13 | ||||||
| Restricted income funds | 14 | 2,813 | 11,779 | ||||
| Unrestricted income funds | 14 | ||||||
| General reserve | 596,461 | 329,953 | |||||
| Total charity funds | 599,274 | 341,732 | |||||
| The trustees acknowledge their responsibilities for ensuringthat the charitykeeps accountingrecords | |||||||
| which complywith sections 386 and 387 of the Act and forpreparingaccounts whichgive a true and | |||||||
| fair view of the state of affairs of the charityas at the end of the financialyear and of its incoming | |||||||
| resources and application of resources,includingits income and expenditure,for the financialyear in | |||||||
| accordance with the requirements of sections 394 and 395 and which otherwise complywith the | |||||||
| requirements of the Companies Act 2006 relatingto accounts so far as applicable to the charitable | |||||||
| company. | |||||||
| These financial statements have beenprepared in accordance with the specialprovisions of Part 15 | |||||||
| of the Companies Act 2006 relatingto small companies. | |||||||
| The notes onpages 10 to 23 formpart of these accounts. | |||||||
The accounts were approved bythe Board on09/27/2 |
023 |
||||||
| .............................. | |||||||
| Ruth Kennedy (Chair) | |||||||
| Trustee | |||||||
| Charity Registration No. 1092093 | |||||||
| Company Registration No. 04267457 |
20
Statement of Cash Flows
| Statement of cash flows | |||||
|---|---|---|---|---|---|
| For theyear ended 31 December 2022 | |||||
| Note | 2022 | 2021 | |||
| £ | £ | ||||
| Cash flows from operating activities | A | 13,132 | 294,430 | ||
| Cash flows from investing activities | |||||
| Interest | 989 | 77 | |||
| Purchase of fixed assets | (180,430) | (189,801) | |||
| Net cash provided by/(used in) investing activities | (179,441) | (189,724) | |||
| Change in cash and cash equivalents in the year | |||||
| Cash and cash equivalents at the beginning of the year | 272,053 | 167,347 | |||
| Cash and cash equivalents at the end of the year | 105,744 | 272,053 | |||
| (A) Reconciliation of net income to net cash flow from operating activities: | |||||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Net income / (expenditure) for reporting period (as per statement of financial activities) |
257,542 | 71,476 | |||
| Interest received | (989) | (77) | |||
| Depreciation charge | 98,018 | 63,560 | |||
| (Profit)/loss on the disposal of fixed assets | - | - | |||
| (Increase)/decrease in debtors | 220,886 | (446,850) | |||
| Increase/(decrease)in creditors | (562,325) | 606,321 | |||
| Net cash used in operating activities | A | 13,132 | 294,430 | ||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Analysis of cash and cash equivalents | |||||
| Cash at bank and in hand | 105,744 | 272,053 | |||
| (0) | - |
21
Notes to the financial statements for the year ended 31 December 2022
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 include 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.
22
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.
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.
23
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 does not 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.
24
| Notes to the financial statements for theyear ended 31 December 2022:continued | Notes to the financial statements for theyear ended 31 December 2022:continued | Notes to the financial statements for theyear ended 31 December 2022:continued | Notes to the financial statements for theyear ended 31 December 2022:continued | Notes to the financial statements for theyear ended 31 December 2022:continued |
|---|---|---|---|---|
| 3 | Donations and legacies | Unrestricted | Restricted | Total |
| 2022 | ||||
| £ | £ | £ | ||
| Heathrow AirportLtd 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 | |
| Otherdonations | 10,692 | - | 10,692 | |
| HeathrowCommunityTrust | 2,813 | 2,813 | ||
| KickStart GrantDWP | 6,594 | - | 6,594 | |
| 122,286 | 2,813 | 125,099 | ||
| Donations and legacies -prioryear comparative | 2021 | |||
| £ | £ | £ | ||
| Heathrow Airport Ltd Coregrant | 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 | ||
| Partner funding - CVP project pass through funding |
11,779 | 11,779 | ||
| Lloyds Bank Foundation | 5,000 | 5,000 | ||
| 137,250 | 77,069 | 214,319 | ||
| 4 | Income from charitable activities | Unrestricted | Restricted | Total |
| 2022 | ||||
| £ | £ | £ | ||
| Incomefrom Education HealthCarePlans | 1,838,425 | - | 1,838,425 | |
| Educationand SkillsFundingAgency | 392,526 | - | 392,526 | |
| Incomefromtraining provision | 3,266 | - | 3,266 | |
| Corporatevolunteerdays and other | 25,546 | - | 25,546 | |
| Fundraising sales | 908 | - | 908 | |
| 2,260,671 | - | 2,260,671 | ||
| Income from charitable activities -prioryear comparative | 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 | ||
25
| Notes to the financial statements for theyear ended 31 December 2022: continued | Notes to the financial statements for theyear ended 31 December 2022: continued | Notes to the financial statements for theyear ended 31 December 2022: continued | Notes to the financial statements for theyear ended 31 December 2022: continued | Notes to the financial statements for theyear ended 31 December 2022: continued | Notes to the financial statements for theyear ended 31 December 2022: continued | Notes to the financial statements for theyear ended 31 December 2022: continued | ||
|---|---|---|---|---|---|---|---|---|
| ~~5~~ | Analysis of expenditure | |||||||
| Charitable activities | ||||||||
| Cost of raising funds |
Education Training Employment |
CVP Partnership |
Governance costs |
Support costs |
2022 Total | |||
| £ | £ | £ | £ | £ | £ | |||
| Staffcosts | 20,029 | 1,145,153 | - | 42,459 | 154,732 | 1,362,373 | ||
| Direct project costs | - | 205,228 | 11,779 | - | - | 217,007 | ||
| Staff training | - | 27,287 | - | - | - | 27,287 | ||
| Auditfees | - | - | 5,200 | - | 5,200 | |||
| Trusteerelated | - | - | 2,315 | - | 2,315 | |||
| Depreciation | - | 98,018 | - | - | - | 98,018 | ||
| Gift in Kind | - | 100,000 | - | - | - | 100,000 | ||
| Volunteerexpenses | - | - | - | - | - | - | ||
| Premises | - | 111,391 | - | - | 9,202 | 120,593 | ||
| Othercosts | 2,516 | 5,097 | - | 12,755 | 176,056 | 196,424 | ||
| 22,545 | 1,692,174 | 11,779 | 62,729 | 339,990 | 2,129,217 | |||
| Support costs | 4,312 | 323,679 | - | 11,999 | (339,990) | - | ||
| Governance costs | 977 | 73,501 | - | (74,478) | - | - | ||
| Total expenditure 2022 |
27,834 | 2,089,354 | 11,779 | 249 | - | 2,129,217 | ||
| Of the total expenditure: | Unrestricted | Restricted | Total | |||||
| 2022 | 2,117,438 £ |
11,779 £ |
2,129,217 £ |
|||||
| 2021 | 1,327,080 £ |
115,883 £ |
1,442,963 £ |
|||||
| Notes to the financial statements for theyear ended 31 December 2022: continued | ||||||||
| 5 | Analysis of expenditure -prioryear | comparative | ||||||
| Charitable activities | ||||||||
| Cost of raising funds |
Education Training Employment |
CVP Partnership |
Governance costs |
Support costs |
2021 Total | |||
| £ | £ | £ | £ | £ | £ | |||
| Staff costs | 15,694 | 722,736 | - | 20,410 | 126,414 | 885,254 | ||
| Directproject costs | 230,777 | 11,164 | 241,941 | |||||
| Staff training | 21,681 | 21,681 | ||||||
| Audit fees | 5,200 | 4,800 | ||||||
| Trustee related | 2,552 | 2,552 | ||||||
| Depreciation | 63,560 | 63,560 | ||||||
| Payments topartners | - | |||||||
| Gift in Kind | 100,000 | 100,000 | ||||||
| Volunteer expenses | 137 | 137 | ||||||
| Premises | 16,967 | 1,883 | 18,850 | |||||
| Covid specific costs | 4,922 | 4,922 | ||||||
| Other costs | 1,146 | 9,365 | 10,543 | 78,212 | 99,266 | |||
| 16,840 | 1,170,145 | 11,164 | 38,705 | 206,509 | 1,442,963 | |||
| Support costs | 2,813 | 195,434 | 1,865 | 6,398 | (206,509) | - | ||
| ~~Governance costs~~ | ~~628~~ | ~~43,837~~ | ~~238~~ | ~~(44,703)~~ | ~~-~~ | ~~-~~ | ||
26
| Notes to the financial statements for theyear ended 31 December 2022: continued | Notes to the financial statements for theyear ended 31 December 2022: continued | Notes to the financial statements for theyear ended 31 December 2022: continued | Notes to the financial statements for theyear ended 31 December 2022: continued | Notes to the financial statements for theyear ended 31 December 2022: continued | Notes to the financial statements for theyear ended 31 December 2022: continued | |
|---|---|---|---|---|---|---|
| 6 | Net income for the year | |||||
| Thenetincomeforthe year is stated aftercharging: | ||||||
| 2022 | 2021 | |||||
| £ | £ | |||||
| Depreciationoftangiblefixed assets owned by | ||||||
| the charitable company | 98,018 | 63,560 | ||||
| Operatinglease rentals;equipment | 271 | 271 | ||||
| Audit | 5,200 | 4,800 | ||||
| 7 | Staffcosts | |||||
| Staff costs duringtheyear were: | 2022 | 2021 | ||||
| £ | £ | |||||
| Salaries andwages | 1,223,382 | 800,834 | ||||
| Social Security costs | 110,132 | 66,427 | ||||
| Otherpensioncosts | 28,859 | 17,993 | ||||
| 1,362,373 | 885,254 | |||||
| Number of employees | ||||||
| The average monthly number of employees during the year was: | ||||||
| 2022 | 2021 | |||||
| Training | 45.3 | 30 | ||||
| Support | 5.1 | 3 | ||||
| Therewereno employeeswhose annual remuneration was£60,000 or more. | ||||||
| Thekeymanagement personnelofthe charitable companyincluded theTrustees and Chief | ||||||
| Executive Office. Totalemployee benefits paid tokeymanagement personnel | ||||||
| includingNIC and pension were£109,379 (2021: £68,033). | ||||||
27
| Notes to the financial statements for theyear ended 31 December 2022: continued | Notes to the financial statements for theyear ended 31 December 2022: continued | Notes to the financial statements for theyear ended 31 December 2022: continued | Notes to the financial statements for theyear ended 31 December 2022: continued | Notes to the financial statements for theyear ended 31 December 2022: continued | |
|---|---|---|---|---|---|
| 8 | Comparative Funds -Statement of Financial Activities for the | ||||
| Year Ended 31 December 2021 | |||||
| Total | |||||
| Unrestricted | Restricted | Funds | |||
| Funds | Funds | 2021 | |||
| Income | Notes | £ | £ | £ | |
| Donations and legacies | 3 | 137,250 | 77,069 | 214,319 | |
| Interest received | 77 | - | 77 | ||
| Charitable activities | 4 | 1,300,043 | - | 1,300,043 | |
| Total income | 1,437,370 | 77,069 | 1,514,439 | ||
| Expenditure: | 5 | ||||
| Raising funds | 20,281 | - | 20,281 | ||
| Charitable activities | 1,306,799 | 115,883 | 1,422,682 | ||
| Total expenditure | 1,327,080 | 115,883 | 1,442,963 | ||
| Net income/(expenditure) before disposal of fixed assets | 110,290 | 38,814) ( |
71,476 | ||
| Disposal of fixed assets | |||||
| Net income/(expenditure) and net movement in | |||||
| funds for theyear | 110,290 | 38,814) ( |
71,476 | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 219,663 | 50,593 | 270,256 | ||
| Total funds carried forward | 329,953 £ |
11,779 £ |
341,732 £ |
||
28
| Notes to the financial statements for theyear ended 31 December 2022: continued | Notes to the financial statements for theyear ended 31 December 2022: continued | Notes to the financial statements for theyear ended 31 December 2022: continued | Notes to the financial statements for theyear ended 31 December 2022: continued | Notes to the financial statements for theyear ended 31 December 2022: continued | Notes to the financial statements for theyear ended 31 December 2022: continued | ||
|---|---|---|---|---|---|---|---|
| 9 | Tangible fixed assets | ||||||
| Computer Equipment |
Plant & Machinery |
Motor Vehicles |
Kitchen |
Site | **Total ** | ||
| £ | £ | £ | £ | £ | £ | ||
| Cost: | |||||||
| At1January2022 | 43,854 | 148,538 | 20,919 | 78,254 | 83,686 | 375,251 | |
| Additions at cost | 21,246 | 1,200 | - | - | 157,984 | 180,430 | |
| Disposals | - | - | - | - | |||
| At 31 December 2022 | 65,100 | 149,738 | 20,919 | 78,254 | 241,670 | 555,681 | |
| Depreciation: | |||||||
| At1January2022 | 23,165 | 45,832 | 20,919 | 78,254 | 6,802 | 174,972 | |
| Chargeforyear | 14,126 | 45,399 | - | - | 38,493 | 98,018 | |
| Ondisposals | - | - | - | - | |||
| At 31 December 2022 | 37,291 | 91,231 | 20,919 | 78,254 | 45,295 | 272,990 | |
| Net book value: | |||||||
| At 31 December 2022 | 27,809 | 58,507 | - | - | 196,375 | 282,691 | |
| At 31 December 2021 | 20,689 | 102,706 | - | - | 76,884 | 200,279 | |
29
| Notes to the financial statements for theyear ended 31 December 2022: continued | Notes to the financial statements for theyear ended 31 December 2022: continued | Notes to the financial statements for theyear ended 31 December 2022: continued | Notes to the financial statements for theyear ended 31 December 2022: continued | Notes to the financial statements for theyear ended 31 December 2022: continued | Notes to the financial statements for theyear ended 31 December 2022: continued |
|---|---|---|---|---|---|
| 10 | Debtors | 2022 | 2021 | ||
| Due within oneyear: | £ | £ | |||
| Trade debtors | 332,860 | 551,901 | |||
| Accrued income and other debtors | 1,434 | 1,350 | |||
| Prepayments | 3,713 | 5,642 | |||
| 338,007 | 558,893 | ||||
| 11 | Creditors | ||||
| Amounts falling due withinone year: | |||||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Trade creditors | 65,050 | 40,955 | |||
| Social Securityand other taxes | 26,606 | 25,271 | |||
| Pension | 5,723 | 5,157 | |||
| Other creditors | 210 | 78 | |||
| Accruals | 15,449 | 19,170 | |||
| Deferred income | 14,130 | 598,862 | |||
| 127,168 | 689,493 | ||||
| 12 | Analysis of net assets between funds | ||||
| Unrestricted | Restricted | **Total ** | |||
| Funds | Funds | Funds | |||
| £ | £ | £ | |||
| FundBalances at 31 December 2022are | represented by: | ||||
| TangibleFixedAssets | 282,691 | - | 282,691 | ||
| CurrentAssets | 440,938 | 2,81~~3~~ | 443,751 | ||
| Creditors: Amounts falling due within one year |
(127,168) | - | (127,168) | ||
| Total net assets | 596,461 | 2,813 | 599,274 | ||
| 13 | Analysis of net assets between funds - | comparative 2021 | |||
| Unrestricted | Restricted | Total | |||
| Funds | Funds | Funds | |||
| £ | £ | £ | |||
| Fund Balances at 31 December 2021 are represented by: | |||||
| Tangible Fixed Assets | 200,279 | - | 200,279 | ||
| Current Assets | 819,167 | 11,779 | 830,946 | ||
| Creditors: Amounts falling due within oneyear |
(689,493) | - | (689,493) | ||
| Total net assets | 329,953 | 11,779 | 341,732 | ||
30
Notes to the financial statements for the year ended 31 December 2022: 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:
| At | Incoming | Outgoing | At | ||
|---|---|---|---|---|---|
| Jan-2022 | Dec-2022 | ||||
| £ | £ | £ | £ | ||
| Restricted Funds | |||||
| Partner funding - Crane Valley restoration |
11,779 | - | (11,779) | - | |
| Heathrow CommunityTrust | - | 2,813 | - | 2,813 | |
| Total Restricted Funds | 11,779 | 2,813 | (11,779) | 2,813 | |
| Unrestricted funds: | |||||
| General funds | 329,953 | 2,383,946 | (2,117,438) | 596,461 | |
| Total funds | 341,732 | 2,386,759 | (2,129,217) | 599,274 | |
| Restricted Funds - description |
Partner funding - Crane Valley restoration: restoration project funded by Environment Agency and carried out by a partner.
Heathrow Community Trust: funding to purchase equipment to facilitate student enrichment activities.
15 Funds - comparative 2021
The income funds of the charity include restricted and unrestricted funds comprising the following unexpended balances of donations and grants held on trust:
| At | Incoming | Outgoing | At | ||
|---|---|---|---|---|---|
| Jan-2021 | Dec-2021 | ||||
| £ | £ | £ | £ | ||
| Restricted Funds | |||||
| Projectpartner funding | 12,400 | - | (12,400) | - | |
| Crane Valley Partnership | - | 13,265 | (13,265) | - | |
| Thames Water Legacy | 4,800 | - | (4,800) | - | |
| Pick, Cook, Serve | 30,347 | 47,025 | (77,372) | - | |
| Partner funding - Crane Valley restoration |
3,046 | 11,779 | (3,046) | 11,779 | |
| Lloyds | - | 5,000 | (5,000) | - | |
| Total Restricted Funds | 50,593 | 77,069 | (115,883) | 11,779 | |
| Unrestricted funds: | |||||
| General funds | 219,663 | 1,437,370 | (1,327,080) | 329,953 | |
| Total funds | 270,256 | 1,514,439 | (1,442,963) | 341,732 | |
31
Notes to the financial statements for the year ended 31 December 2022: 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 2022 (2021: 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 2022 (2021: £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 | 2022 | 2021 | ||
| £ | £ | |||
| Contributions payable by the charitable company for the year | 28,859 | 17,993 |
At 31 December 2022 £5,157 was outstanding, paid in January 2023 (2021: £5,157).
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 | 2022 | 2021 | |||
| £ | £ | ||||
| Less than one year | 245 | 245 | |||
| One to fiveyears | 551 | 796 | |||
| **21 ** | Contingent assets or liabilities | ||||
| There areno contingent assets or liabilities atDecember 2022(2021: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 (2021: £490).
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.
32
'Green Corridor is amazing,