GreenCorrid¥ Opening minds Opening opportunitiei 11 Annual Report Financial Statements year ending 31st December 2023
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Greencorrid Contents Contents............................................................... .. Chair's introduction.... CEO'S introduction..................................................... . About Green Corridor.............................................................................................. ... . Activities, Achievements and Performance..... 2023 - A year of building Firm Foundations............................................................. Learners, Destinations 2023.. Refocussing of Provision and Admissions Criteria............ Therapies...................................... Equality, Diversity and Inclusion.....................-............... 2023 Ofsted inspection...... Our Staff - Thanks..................................................................................... ..10 Subsequent Events................... Reference and Administrative Information................................................................... -.10 Trustees..................................................................................... Trustees Statement...... ..12 Structure, Governance and Management.............. ... .. Future Plans...................................................................................................................................................................... .12 ..13 Our Partners and Funders........................................................... ... ..14 Remuneration Statement.............................................. ........... ..14 Complaints............................ .. Compliance with Fundraising Standards........................................................ Financial Review.. ..14 .15 ..16 Opinion................... statement of Financial Activities...................................................................................................... .19 ..23 Balance Sheet...... ..24 statement of Cash Flows................... .................... .................. ..24 Notes to the financial statements for the year ended 31 December 2023........... ..26
Chair's introduction l am delighted to introduce our annual report for 2023. At Green Corridor our mission is to provide young people who have Special Educational Needs with a high quality, safe, positive and enriching learning experience. We provide pathways centred around either horticulture or catering alongside a functional skills programme. It is our ambition to harness the unique strengths and abilities of our learners, so they are happy, content and confident to take their next steps and are prepared to enjoy life. We aim for each of our learners to transition to a destination that is best for them, including working, further education and accessing the community. We achieve this through values of Openness, Respect and Learning. Green Corridor has continued to provide our unique service to learners, parents, carers and staff throughout 2023. It has been year of change as we had our first OFSTED inspection, updated the curriculum, navigated the changing landscape of policy and funding and made significant changes to our leadership team. This financial information in this annual report is accurate and signed off by our auditors and demonstrates that despite headwinds created by lower learner numbers, Green Corridor is well placed financially as we close 2023 and move into 2024, with increased number of offers being given for our September 2024 intake. We welcomed our CEO, David Welch in February 2023 and refreshed the senior 5eadership team in the past year, a number of which were internal promotions, demonstrating our commitment to staff development. We have over the past year refreshed the site, curriculum and strategy. The strategy is central to the all plans, activity and objectives for the current and future years. The response to all of these demonstrates the dedication of the team at Green Corridor and the effort to create an environment that provided a place for all learner and staff to flourish. I thank the team at Green Corridor for their ongoing commitment and hard work. I would also like to take the opportunity to thank all of our supporters and volunteers, throughout the past year, in particular Heathrow Airport, whose unwavering support is crucial to Green Corridor. As we look to the future, we are excited to build on this year's accomplishments, setting our sights on positive impact through expansion of the curriculum, refreshing parts of the site and providing the best possible experience for our learners. Nicole Jennings Chair of the board of trustees 18th September 2024
Greencorrid CEO'S introduction The past few years have been difficult for many of us, particularly for learners like those we work with who are facing complex and challenging situations. Changing policy and funding landscapes mean that stability and certainty can be hard to find, and we know that this is unusually challenging for our learners. This annual report demonstrates Green Corridor's response to this environment, and how we are seeking to maximise the opportunities that our learners have to flourish, both during their time with us, but also in their next step having left our provision. During the year we have worked with 74 different learners - of which 31 left us in during the year to move on to new destinations - we report the detail of this later in the report. This year has been focused on building firm foundations for the future - addressing the challenges of establishing our offering within the local SEN community, with a clear and distinctive purpose and meeting our learners, unique needs in Green Corridor's unique ways. 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 at the beginning of the consultation process 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 - our learners, their families and the other professionals around them tell us so in annual reviews and spontaneously throughout the year. 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 6, allowing for appropriate stretch and challenge and different communication styles. This approach also applies to functional skills and our enrichment and careers programmes. During the year, we refocussed our provision on learners who would most benefit from what we provide. This means that we made the decision to stop working with learners who needed personal care and learners who use wheelchairs as our site does not provide well for these needs. Green Corridor's unique approach means that our learners come from a wide distance - and during 2023 we worked with10 Local Authorities (2022.. 10) as far away as High Wycombe and Hammersmith and Fulham as well as many learners coming from our 'home' Local Authority of Hillingdon. Our refocussed admissions criteria mean that we 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,. We have ambitious plans to improve our provision and to grow our impact in the coming years, and we were delighted that Ofsted were able to recognise this during our routine monitoring visit that happened in November, and which is reported on later in this report. Finally, I would like to thank Ruth Kennedy who stepped down as chair of trustees in January 2024 just after the reporting period covered by the report - her leadership over the last few years made a significant difference to our loarners and staff and we are grateful for the time, effort and skill that she gave to Green Corridor. David Welch Chief Executive Officer
Greencorrid 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 45 learners each year on our site in Stanwell Moor, near Heathrow Terminal 5. Many of our learners have odditional therapy funded through their EHCP, with about half having either Occupational Therapy or Speech and Language Therapy or both. During 2023 We offered 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 Improve access for disadvantaged 16-25 year-olds to education, training and employment through practical horticulture and catering skills; Change perceptions to increase employment opportunities for young people with special educational needs and learning diff iculties,. and Connect our young people with their local communities by increasing and integrating volunteeringactivities into our learning programmes to promote the benefits of growing your own and healthyeating to all participants. Values The trustees met in July 2023 to reflect on the values of the organisation. During this meeting we discussed the approach that we would like to take in working with our key stakeholders - our Learners, families, Local Authorities, Staff, Volunteers and Trustees. The trustees agreed three values for our work. Openness - we seek to be open and honest in our approach to all our work - including in our relationships with staff, learners, Local Authorities ond other partners. This transparency allows us to build deeper relationships and benefits our learners by helping them and those around them to work together for their benefit. l Learning - We embed learning at all levels of Green Corridor, from trustees to visitors. We want to ensure that everyone continues to learn and develop through their time with us. We encourage all staff to undertake regular training, from mandatory safeguarding training to CPD that continues to grow skills and interests, demonstrating that learning is for all, not just learners. 3. Respect - everyone deserves respect. We believe in treating people with care and consideration. We help our learners and staff to listen to one another, and to amplify their voices both internally and with those around them. I We revised our Vision and Mission along with further developing our strategy in January 2024, after the period covered by this reporL
Greencorrid Activities, Achievements and Performance 2023- A year of building Firm Foundations 2023 was marked by building firm foundations for the future - ensuring that Green Corridor meets the needs of current learners and those who will be joining us in the future. We have addressed the admissions criteria to clarify whose needs we are able to meet, and ensured that the provision is working to the standards expected by the trustee board, Ofsted and our Local Authority partners. This has meant that the Senior Leadership Team has be appointed by the new CEO to work collaboratively with all staff to improve standards and behaviour. The board has carefully monitored the staff turn over and morale, with staff surveys and exit interviews forming an important part of the process of improving our offering to staff and through them to our learners. There was a considerable amount of staff change early in the year, but this quickly stabilised following the appointment of David Welch as CEO in February 2023. Learner numbers have been broadly stable, and income has remained in line with these learner numbers, with the board forecasting15/ growth in learner numbers and income in quarter 4 of 2024. Morale has improved with the 2023 staff survey reporting an average satisfaction rating of 8.6 out of10, with a rating of 9 out of10 for the effectiveness of senior management in guiding and leading the organisation. Ofsted inspected the provision os expected in November (as reported on elsewhere) and the board welcomed their conclusions and agreed with the areas identified for improvement. The Quality Improvement Plan is addressing the identified issues to ensure that the board's improvement ambitions are met. As noted in last year's annual report under 'Subsequent events, Henrick Winter-olsten (interim CEO) left on13 January 2023. Learners. Destinations 2023 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 l of 4 different destinations: Direct Employment, Supported Internship, Further Study (at another provider) or Social Care. Our leavers in 2023 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 2023 destinations are shown in the graph. Apprenticeship Unknown I Inclusion project 3 Suppo Interns urther Study 3 Employme
Greencorrid 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. In 2023, one serious incident (2022: one) met the threshold for reporting to the Local Authority. These incidents and lower level incidents are logged by the Safeguarding Team. Trustees regularly monitor all incidents and actions including those not meeting the threshold for reporting to the Local Authority. The safeguarding team meets weekly with additional meetings as required and they meet with the Safeguarding trustee quarterly and as required in addition. Our Ofsted inspection in November 2023 (report published Feb 2024) covered elsewhere in this report found that we had made 'Significant' progress, in our Safeguarding practice, the highest level that can be achieved during a monitoring visit. 'Green Corridor changed my son's life, Parent, During site visit ¢4 Refocussing of Provision and Admissions Criteria Following a review of the site and the admissions criteria it was decided that they site wos not suitable for wheelchair users due to the uneven nature of the ground and the bogginess associated with the longer periods of rain in the winter. It was also decided that learners who needed personal care on a regular basis would be better suited to a site where they have more appropriate facilities. This review led to the 'life skills, class being discontinued in July 2023 as they oll needed various forms of personal care. The board has clearly focussed our provision on learners who have not achieved any GCSES but who have a demonstrable ability to learn. In 2023 we admitted learners with autism who showed an interest in either the horticulture or catering offer of the provision in this category. Learners are assessed on an individual basis by the admissions team. Offers are made to learners based on our obility to meet their needs as expressed in the EHCP and in consultation with the relevant local authority as required by the SEND code of practice. hAany of our learners visit the site as a part of the consultation process. Therapies We offer learners therapies as dictated by their needs outlined in their EHCPS. In 2023 this included 14 Learners who have Occupational Therapy (OT) and 35 learners who have Speech and Language Therapy (SaLT). We also offered physiotherapy to 3 learners and counselling to 8 learners. The SENCO
Greencorrid works in collaboration with therapists and therapy assistants to ensure every learner receives the appropriate type and quantity of therapy they require. Assessments throughout the year ensure progress is monitored effectively. Equality, Diversityand Inclusion We have reviewed and reflected on our recruitment processes, to ensure that our job descriptions and interview questions use language that is inclusive and based on essential requirements for the role. During 2023 our refocussed efforts let to a dramatic increase in our staff team's diversity and improving pay equality. During 2023 we have gone from 9/ to 22°A who do not identify as white British. This is much closer to the 48.2/0 of residents in the local community of Hillingdon who are white2 34/0 of employees consider themselves to have a disability or on going health condition. During the period of this repor¢ we have broadened our advertising to target a wider audience, and have begun to measure Equality, Diversity and Inclusion throughout our promotion and training opportunities as well as our recruitment. We intend to adapt our processes further in order to further improve our inclusivity. Our focus for 2024 will be to reduce barriers for neurodiverse applicants and employees. Our Gender pay gap for 2023 was -2.4/0 median (g/. mean), with lower quartile 36/0 male, 64/. female lower middle quartile, 27/0 male, 73/. female, upper middle quartile 36/0 male, 64% female, and upper quartile, 30/0 male and 70/. female. We do not have figures for 2022 for gender pay gap reporting. 2023 Ofsted inspection ('Monitoring Visit.) The charity is registered with Ofsted (number.. 146362). We were inspected by Ofsted on 29th and 30th November 2023, with the report published by Ofsted in February 2024. We expect a full inspection within18 months of the publication of this Ofsted report. The 2023 inspection was a routine 'Monitoring Visit, as we are a new provision. The inspection focussed on 3 themes.. How much progress have leaders and managers made in designing and delivering relevant learning programmes that are clearly defined and tailored to suit the individual needs of learners? 2. How much progress have leaders and managers made to ensure that learners benefit from high quality learning programmes thot develop independence, communication and skills and help them to achieve their personal andlor work-related goals? 3. How much progress have leaders and managers made in ensuring that effective safeguarding arrangements are in place? The full report can be viewed on the Ofsted website: htt files.ofsted. ov.uk vl file 50238985. The inspectors found that we have made 'reasonable' progress in the first 2 themes, and 'significant' progress in the third theme. Monitoring visits (and as of Sept 24 all Ofsted reports) do not give a 'one word judgement, and therefore we do not have one to report. The board welcomed the Ofsted report as marking an endorsement of the work of the staff team and trustees to ensure that we are making progress. The trustees remain ambitious for our future and are working hard to ensure that the senior staff team have plans in place to further develop the provision. Green Corridor has a Self- Assessment Report (SAR) and a Quality Improvement Plan (oip) to address the areas identified in the SAR. These are routinely monitored by the Senior Leadership Team at Green Corridor, and trustees were involved in the production of the SAR in September 2023. Ofsted said 'Staff ONS statistics from 2021 census
Greencorrid demonstrate high levels of kindness and care towards learners. Learners feel well supported and safe. They enjoy going to college and know who to speak to if they have any worries or problems., Our Staff - Thanks We would like to thank all our staff who have worked tirelessly to deliver excellent results for our learners. 2023 has been a very significant year of growth ond stabilisation for the charity, and this has been achieved through the hard work and dedication of the staff. Green Corridor is a life changing place for our learners who make good progress in our provision which is down to the statf who go above and beyond what is required for the benefit of our learners. Subsequent Events In early 2024 the board met to consider future strategy for 2024-2026. This included evaluating the vision and mission of the charity alongside a clear plan to develop the charity to ensure it remains focussed on its objectives. This has led to a third 'Personalised Employment Pathway, being offered to learners from September 2024, which broadens our appeal to learners with needs we can meet, but who aren't interested in catering or horticulture. This reduces the risk of learner numbers fluctuating due to changing preferences. Government requirements have changed for Functional Skills, requiring all non-exempted learners to study a minimum of 4 hours of maths and 3 hours of English each week from September 2024. We have responded by adjusting timetables and staffing accordingly. Ruth Kennedy Resigned as both chair of the trustee board and as a trustee in January 2024, and the board would like to put on record their thanks for her dedication, hard work and wisdom in leading the charity as chair of trustees until her resignation. Nigel Fishwick stood down as vice-chair of the board at the same time and we extend our thanks to him too. He remains on the board. 10
Greencorrid Reference and Administrative Information Company number Charity number Charity Name 04267457 incorporated in England & Wales 1092093 registered in England & Wales 'The Green Corridor, known as 'Green Corridor, Trustees Trustees, who ore also directors under company law, who served during the year and up to the date of this report were as follows.. Ruth Kennedy (Chair) [resigned 25th Jan 20241 Arnold Wickens Nicola Leonard Iresigned 19th June 20231 Nigel Fishwick (Vice Chair) Iresigned as Vice Chair 24th Jan 20241 Nicole Jennings lappointed chair 24th Jan 2024] Amanda Owen [appointed vice Chair 24th Jan 20241 Gareth Hughes Ashley de Safrin James Snaith (appointed 22nd Feb 2024) Jo Salsbury (appointed 22nd Feb 2024) Henrick Olsten-winter Interim CEO (left13th Jan 2023) David Welch.. Chief Executive Off icer (from 20th Feb 2023) Tim Whitelaw.. Head of Education (from17th April 2023) Dawn Mowbray Sarah Jones: HR manager (from Ilth April 2023) Lily hAcCurdy: SENCO (from 31st July 2023) Green Corridor, Main Road Nurseries, Stanwell Moor Road, Staines-upon-Thames. TW19 6BS Web address and phone number: www.greencorridor.org.uk 01753 687236 MG Audit Services,166 College Road, Harrow, Middlesex, HAI IBH CAF Bank Limited Virgin Money PLC Lloyds Bank PLC 25 Kings Hill Avenue Jubilee House PO Box1000 Kings Hill, Gosforth Andover West Malling Newcastle upon Tyne BXI ILT Kent, ME19 4JQ NE3 4PL Russell-cooke Solicitors 2 Putney Hill, London, SW15 6AB Key management personnel Registered office and operational address: Auditor Bankers Solicitors
Greencorrid 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 2023. 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 FRS102. The directors of the company are also charity Trustees for the purposes of charity law and under the companys 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 charity17th 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 off ice. 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 off ice 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 off ice (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 75/0 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 con 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 12
Greencorrid (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. 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 Chief Executive Officer (CEO). The CEO 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 regularly reviewed, with an identified member of the board having the risk portfolio. 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 2023 for formal business meetings. 'Staff demonstrate high levels of kindness and care towards learners.. Ofsted Inspection Repor¢ 2023 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 has reviewed the vision and mission in January 2024 in the light of the 13
Greencorrid recent growth and change that Green Corridor has experienced. The board plans to grow the impact of the charity by increasing learner numbers in a sustainable way, and to consider offering a broader range of subjectslpothways to potential learners, who are all at similar levels of ability to the learners we already work with. The strategic plan agreed in January 2024 includes specific targets and plans to underpin this growth. 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, various Grant Making Trusts, HSS limited and the individuals and companies that have donated funds or time to our work. Thank you. We have worked to develop our volunteering programme this year, and would like to extend our thanks to the volunteers we have welcomed on to our site during the year, including volunteers from LexisNexis and Heathrow. 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 2023 we employed 39 staff (2022 - 51) who provide the essential tutelage and support services to deliver our education, training and employment services. staff costs of £1,208,930 (2022.. £1,362,373) including salaries, pension and national insurances contributions) make up the largest proportion of the annual cost of running Green Corridor (circa 56/.}. The charity has undertaken a benchmarking exercise in 2023 and will look to ensure salaries are in line with median pay points for the sector. We have considered the bandings of the roles and the pay levels of these bands in our September board meeting. In future years this will form a part of our agenda in the summer board meeting so any pay adjustments can be made in time for the new academic year in September. In 2023 one member of staff was paid more than £70,000 but less than £80,000 (2022: One member of staff was paid more than £60,000 but less than £70,000). Complaints A total of O complaints were received by the Board during 2023 through the Whistleblowing and Grievance policies (2022.. 2). This is a decrease of 2 from last year. The board has improved policies and processes following 2022 which has led to this improved performance. The board monitors complaints through the whistleblowing and grievance policies very carefully. One referral was made to the Teacher Referral Agency (TRA) obout a former member of staff and the board will act on any recommendations when they are received. 14
Greencorrid 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 octivities. 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. roLtti• '[My Son] made more progress this year than in the previous ten. It's changed all our lives., Parent whilst picking up ot end of the day 15
Greencorrid Financial Review The principal funding sources for the charity during 2023 came from fe*earned income of £1,304,065(2022.' £1,838,425) which was 64% of total income (2022.. 81y.) from Education, Health and Care Plans. Income from donations and grants remains lower than historic at £102,534 (2022: £125,099). Expenditure of all our income is on activities centred on those whom we try to help as described above. Our charitable activities focus on linking young people with the environment around them, engaging with them in volunteering, accredited training programmes and practical education opportunities to improve their self-confidence 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 £31,614(2022: £266,508) means that our reserves stand at £628,075(2022'. £596,461) which is 3.6 months, of expenditure. Total reserves including funds restricted to a specific purpose are £630,888 (2022: £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 effectivelymanages Green Corridors 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 transactionsand 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 Corridorfor the purposes of company law) are responsiblefor 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 atrue 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: Select suitable accounting policies and then apply them consistently,. Observe the methods and principles in Charities SORP,. Make judgments and estimates that are reasonable and prudent; State whether applicable UK Accounting Standards have been followed, subject to any materialdepartures disclosed and explained in the financial statements,. and 17
Greencorrid Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the company will continue in operation. The Trustees have considered the charity's ability to continue as a going concern. The charity currently operates from leased premises for which the lease agreement has not yet been renewed. The charity is in ongoing discussions with the landlord to secure a renewed lease agreement While the absence of a formal renewal presents uncertainty, the Trustees have received assurances from the landlord that the charity may continue to occupy the premises under the current terms until a new agreement is finalized. Additionally, the charity has adequate financial resources and a healthy cash flow, which will support operations over the foreseeable future. The Trustees have reviewed the charity's forecasts and projections, considering the expected income and expenditure, and they are confident that the charity has sufficient resources to meet its obligations as they fall due. Based on this, the Trustees have a reasonable expectation that the charity will be able to continue its operations for the next12 months and beyond. Therefore, the financial statements have been prepared on a going concern basis. The Trustees acknowledge the risk that if a new lease agreement is not secured, alternative arrangements for premises may be required, which could impact the charity's operations 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.. There is no relevant audit information of which the charitable company's auditor is unaware,. 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 forthe maintenance and integrity of the corporate and financial informationincluded on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in otherjurisdictions. Members of the charitable company guarantee to contribute an amount not exceeding £1 to the assetsof 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 £2,544 (2022.. £2,315). Auditor MG Audit Services 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 thecompanies Act 2006. Approved by the Board and signed on their behalf by Nicole Jennings( air) Dated:18th September 2024 18
Greencorrid Independent Auditor's Report to the Members Opinion We have audited the financial statements of The Green Corridor (the 'charitable company,) for the year ended 31st December 2023 which comprise the Statement of Financial Activities, 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 applicoble in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of the charitable company's affairs as at 31st December 2023 and of its results for the year then ended. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and 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. Material uncertainty 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. However, we would like to draw attention to Note 22 of the financial statements which states that the operating lease agreement for use of the land has expired, and the renewal of this lease is still outstanding as at the date of our audit report. AS Stated in Note 22, these events or conditions, along with matters set forth in Note 21, indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter. 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. 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 materialSy inconsistent with the financial statements, or our knowledge obtained in the course of the audit or otherwise appears 19
Greencorrid 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, 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. We have nothing to report in this regard. Opinion on other matters prescribed by Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given for the financial year for which the financial statements are prepared is consistent with the financial statements; and the financial statements have been prepared in accordance with applicable legal requirements. 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 audiL we have not identified material misstatements in the Trustee's report. We have nothing to report in respect of the following matters where the Companies Act 2006 require us to report to you if, in our opinion.. the information given in the Trustees, report is inconsistent in any material respect with the financial statements. sufficient accounting records have not been kept, or returns adequate for our audit have not been received,. or the financial statements are not in agreement with the accounting records,. or 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 misstatemenL 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 tor 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 auditors 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 bosis of these financial statements. 20
Greencorrid 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. Based on our understanding of the charitable company and sector, we identified that the principal risks of non-compliance with laws and regulations related to, but were not limited to, the companies Act 2006, Charities Act 2011, and other legislation and regulation through the Charity Commission for England and Wales and we considered the extent to which non-compliance might have a material effect on the financial Statements. We also considered those laws and regulations that have a direct impact on the preparation of financial statements. 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 ossessed 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: 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. The detection of fraud often requires the exercise of professional judgment, including the consideration of indicators, circumstances, and patterns that may suggest fraudulent activities. Fraudulent activities may involve collusion among individuals within the charity, and efforts to conceal such activities can make detection challenging. 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 mcjintain 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 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. 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. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. 21
Greencorrid 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 companys ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors 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. 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). Obtain sufficient appropriate audit evidence regarding the financial information of the business activities of the charity to express an opinion on the financial statements. 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 ovailable on Financial Reporting Council's website at: htt www.frc.or .uk our-work Audit Audit-and-Assurance stondards-and- uidance tandards- uidance-for-auditors Auditors-res onsibilities-for-audit Descri tion-of-auditors- onsibilities-for-audit.as x. 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 Part16 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 auditorfs 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. Gavin Fernandes FCA, CTA (Senior Statutory Auditor) For and on behalf of MG Audit Services Limited, Statutory Auditor 166 College Road Harrow HAI IBH Date................ 22
Greencorrid Financial Report statement of Financial Activities Including Income and Expenditure Account, for the year ended 31st December 2023 Unrestricted Funds Restricted Funds Total Funds 2023 TotalFunds 2022 Income Not8S Donations and legacies Interest received Charitable activities otal Income 102,534 5,983 2,035,576 2,144,093 102,534 5,983 2,035,576 2144,093 125,099 989 2,260,671 Z386,759 Expenditure: Raising funds Charitable activities 46,506 2,073,824 46,506 2,073,824 27,834 2,101383 Net incomel(expenditure) before dlsposal of fixed assets 23,763 23,763 257,542 Dlsposal of fixed assets et Incom81(expendlture)',&.n- 23,763 23,763 257,542 Reconciliatlon of funds Total funds brought forward 596,461 2,813 13 59g,274 341,732 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 from 26 to 35 form part of these accounts. 23
Greencorrid Balance Sheet As at 31 December 2023 Note 2023 2022 Fixed assets Tangible Assets 167,305 282,691 Current assets Debtors Cash at bank and in hand 10 185,966 370,Q58 556,924 338,007 105,744 443,751 Liabilities: Creditors.. Amount falling due within one year 11 Net current assets l (liabilities) (101,192) (127,168) 455,732 316,583 The funds of the charty. Restricted income funds Unrestricted income funds General Fund otal charl 14 14 2,813 2,813 620,224 596,461 The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with sections 386 and 387 of the Companies Act 2006 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 financiol 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 occounts so far as applicable to the charitable company. These financial statements have been prepared in accordance with the special provisions of Part15 of the Companies Act 2006 relating to small companies. The notes on pages 26 to 35 form port of these accounts. The accounts were approved by the Board on 18th September 2024 Nicole Jennings (Chair) Trustee Charity Registration No. 1092093 Company Registration No. 04267457 24
Greencorrid statement of Cash Flows For the year ended 31 December 2023 Note 2023 2022 ows rom ope ng a 13,132 Cash flov from investing activities Interest Received Purchase of fixed assets 5,983 989 (180,430) cas us Cash flow from Financing Activities Interest Paid (13,446) Short-term loan Received 100,000 Short-term Loan Repaid (91,667) Change in cash and cash equivalents in the year Cash ond cash equivalents at the beginning of the year 105,744 272,053 (A) Reconciliation of net income to net cash flow from operating activities: 2023 2022 Net Income l (expenditure) for reporting period (as per statement of financial activtties) Interest received Depreciation charge Interest Paid (Profit)/ioss on the disposal of fixed assets (Increase)/decrease in debtors Increase/(decrease) in creditors 23,763 257,542 (5,983) 115,386 13,446 (989) 98,018 152,041 (34,309} 220,886 (562,325) 2023 2022 Analysis of cash and cash equivalents h at bank arKI In hand 25
Greencorrid Notes to the financial statements for the year ended 31 December 2023 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, Middlesel TWI9 6BS. The functional currency is sterling. Accounting policies 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), Companies Act 2006 and the Charities Act 2011. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note. Public benefit entity The Green Corridor meets the definition of a public benefit entity under FRSIO2. 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 materiol adjustment to the carrying amounts of assets and liabilities within the next reporting period. There are no material uncertainties about The Green Corridorfs ability to continue as a going concern other than mentioned in Trustee Report and the charitable company con comfortably operate based on confirmed funding with suff icient reserves. 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 companys 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 omount is then recognised in expenditure in the period of receipt. 26
Greencorrid 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. 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: 30/0 of the CEO'S time is allocated to governance, 30/ to support costs including organisational development, with 40/0 allocated to education, training and employment development and managing frontline staff. 50/0 of the Marketing & HR Officer is allocated to raising funds and 50/. to support. IOO/o 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. 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: 25/0 on cost Portocabins.. 33% on cost Computer Equipment. 33/0 on cost Motor vehicles: 25/0 on cost Site improvements & internal building works.. 25/0 on cost Leasing and hire purchase commitments Rentals applicable to operating leases where substantiolly all the benefits and risks of ownership remain with the lessor are charged on a straight line basis over the lease term. Pensions The charitable company operates an Auto Enrolment defined contribution pension scheme and makes contributions equivalent to a minimum of 3/0 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 thon for the payment of those contributions. Cash at bank and in hand Cash at bank ond 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. 27
Greencorrid Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financiol instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. 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 paty 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. 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. 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. Fundraising The Green Corridor does not use 3rd paty 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 partner company charity days and fundraising efforts. Donations and Legacies Unrestricted Restricted Total 2023 rotol 2022 Other donations Product Sale Grant Heathrow Airport Ltd Gift in Kind - Building & Land Heathrow Airport Ltd Core Grant Heathrow Community Trust Kickstart Grant DWP ,otal 1,683 1,683 10,692 851 100,000 851 100,000 100,000 5,000 6,594 724099 Income from Charitable Activities Income from charitable actlviti8S Unrestricted Restricted Total 2023 Total 2022 Income from Education Health Care Plans Education and Skills Funding Agency Income from training provision Fundraising sales Corporate Volunteer Days and Other 1,296,214 739,017 1,296,214 739,017 1838,425 392526 3,266 908 25,546 345 345 28
Greencorrid Analysis of Expenditure Education Cost of Training ralslng funds Employment Governance costs Support costs 2023 2023 Total Staff costs Direct project costs Staff training Audit fees 35,245 1,029,231 242,096 29,228 25,560 118,894 1208,930 24Z096 29,228 6,000 Z544 115R86 100,000 6,000 2,544 Trustee related Depreciation Gift in Kind Volunteer expenses Premises Interest Paid Other costs otal Support costs Governance costs 115,386 100,000 100,683 7,068 13,446 278,803 107,751 13A46 294,949 1,167 7,107 7,872 9,173 921 409,038 41,055 1073 824 (418,211) (41,976) otal expendlture 4608 Z120230 O* the total expenditure: 2023 2022 Unrestricted Z120,330 2,117,438 Restricted Total 1120,330 2,129,217 11,779 29
Greencorrid Analysls of expendlture - (Continued) Charitable activities Education Training Employment Cost of raising funds cvp Partnership Governance costs Support costs 2022 2022 Total Staff costs Direct project costs Staff troining Audit fees Trustee related Depreciation Gift in Kind Volunteer 20,029 1,145,153 42459 154,732 1,362,373 205,228 27,287 11,779 217,007 27,287 5,200 5,200 2,315 2,315 98,018 100,000 98,018 100,000 expenses Premises other costs 111,391 5,097 9,202 176,056 120,593 196,424 2,516 12755 Support costs 4,312 323,679 11,999 (339,990) Governance costs 977 73,501 (74,478) Total expenditure 27,834 Z089,354 11,779 250 Z129217 Net Income for the Year The net income for the year is stated after charging: 2023 2022 Depreciation of tangible fixed assets owned by the charitable company Operating lease rentals,. equipment Audit 115,386 271 6,000 g8,018 271 5,200 30
Greencorrid staff Costs Staff costs during the year were.. 2023 2022 Salaries and wages Social Security costs other pension costs otal 1,088,809 96,437 23,684 1208,930,. 1,223,382 110,132 Number of Employees The average number of monthly employees during the year was.. 2023 34 2022 45 Training Support The key management personnel of the charitable company included the Trustees and Chief Executive Officer. Total employee benefits paid to key management personnel including NIC and pension were £238,461 (2022.. £109,379). Comparative - Statement of Financial Activities Statement of Financial Activities for the year ended 31 December 2022 Total Funds 2022 Unrastnct8d R8StnGted Funds Funds Incon Donations and legacies Interest received Charitable activities Notes 122286 989 2260,671 2813 125,099 989 2,260,671 Expenditura. Raising funds Charitable activities 27,834 2,089,604 27,834 2,101,383 11,779 N8tinGom8/(ew8nditure) before disposolof rued assets 266,508 (8 966) 257,542 Disposalof f£Yad assets ON8t1ncomo/(expendknra) andnetmov8m8nt/n 266,508 257,542 R8Gonciliation of funds Total funds brought forward 329,953 11,779 341732 31
Greencorrid Tangible Fixed Assets Computer Equipment Plant & Motor Machinery Vehicles Itchen Site Total Cost At l January 2023 Additions at cost Disposals 14t 31 December 2023 Depreciation: At l January 2023 Charge for year On disposals 81 Decémber Net book value: t 31 December At 31 December 2022 65,100 149,738 20,919 78,254 241,670 555,681 85,100 149,738 20,919 78254 241670 555,681 37,291 15,277 91,231 39,690 20,919 78,254 45,295 60,419 272,990 115,386 27,809 58,507 196,375 282691 10 Debtors Due within one year: 2023 2022 Trade debtors Accrued income and other debtors Prepayments 93,607 825TI 9,782 184986 332,860 3,713 11 Creditors Amounts falling due within one yeor.. 2023 2022 Trade creditors Social Security and other taxes Pension Other creditors Accruals Deferred income Bank Loan 16,608 27,992 10,482 211 32,888 3,641 9,370 101,192 65,050 26,606 5,723 210 15,449 14,130 13 12 Analysis of net assets between funds Unrestricted Restricted 2023 Total 2022 Total Funds Funds Funds Funds Fund Balances at 31 December are represented by.. Tangible Fixed Assets Current Assets Creditors.. Amounts falling due within one year 167,305 554,111 167,305 556,g24 282691 443,751 2,813 (101,192) (101,192) (127,168) 32
Greencorrid 13 Deferred Income 2023 Deferred income on 01 January 2023 Resources Deferred in the period Amount Released from previous period Deferred income at the year-end 31 December 2023 14,130 3,641 (14,130) 3,641 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 01 Jan 2023 Outgolng At 31 Dec 2023 Restricted Funds Heathrow Community Trust otal Restrfcted F.u Unrestricted fund General funds 2,813 2,813 596A61 ZI44093 (2,120R30) 620224 otal funds 599274 ZI44093 Z120R30 624037 Restricted Funds- description Heathrow Community Trust.. funding to purchase equipment to facilitate student enrichment activities Funds- Comparative 2022 The income funds of the charity include restricted and unrestricted funds comprising the following unexpended balances of donations and grants held on trust.. At OlJan-2022 Incoming Outgoing At 31Dec-2022 RestnctedFunds Project partner funding Partner funding - Crane Valley restoration Heathrow Community Trust 11779 (11,779) 2,813 2813 2813 11779 Unr8Stnctedfvnd&' Gen8ralfunds 2384946 (2117338) 594461 33
Greencorrid 15 Analysis of Net funds At IstJanuary 2023 Cash Flow othernon-cash changes At 31stDec8mber 2023 Cash at hand and in bank Debt due within one year N8t d8bt 105,744 265214 (9,370) 105744 255 870 958 (9,370) 361588 16 Taxation The charitable company is registered as a charity and all of its income falls within the exemptions under Part11 of the Corporation Tax Act 2010. 17 Related parties There are no related party transactions to disclose for 2023 (2022.. 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 remuneration from the charity during the year. Reimbursements claimed by one trustee £62.50 in 2023 (2022.. £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 2023 2022 Contributions payable by the charitable company for the year 23,684 28,859 At 31 December 2023 £10481.68 was outstanding.(2022: £5,157). 20 Operating lease commitments The charitable companys total future minimum lease payments under non-cancellable operating leases is as follows for each of the following periods. Equipment 2023 2022 Less than one year One to five years 245 551 245 551 21 Gift in Kind The premises from which the charitable organisation operates on a lease from Heathrow Airport Limited. The current lease agreement expired in 2023. The trustees are confident that a new lease will be signed at a consideration of I peppercorn per annum. The lease rent I benefit received is recognised in the accounts at the annual rental equivalent value of £lOO,000 (2022 - £100,000). 34
Greencorrid 22 Going Concern The financial statements have been prepared on o going concern basis. The charity operates from premises with an expired lease, and negotiations for a new agreement are ongoing. The Trustees have received assurances that the charity may continue to occupy the premises under existing terms until the lease is renewed. 23 Contingent assets or liabilities There are no contingent assets or liabilities in December 2023 (2022.. Nil). 24 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 £526 (2022: £490). 25 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. 26 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. 35
hv. 1111111111;.7' s *• 'Green Corridor is amazing, Local Authority SENCO during site visit