k Greeneorrid¥ Openino minds Opening opportunitie: Annual Report Financial Statements year ending 31st December 2024
Greencorrid 'Being here has made a huge difference from when she was at school., Parent During Annual Review
Greencorrid Contents Contents................... Chair's introduction................... CEO'S introduction.................................................................... About Green Corridor................................................................................................................................................................ Activities, Achievements and Performance.................................................. A new 3 year strategy for 2024-2026............................................... Learners, Destinations 2024....... Therapies............. Equality, Diversity and Inclusion................................................................................................................-..-....-.................. Ofsted....................................................................................... ... .10 -10 Our Staff - Thanks.............. Subsequent Events...................... Reference and Administrative Information............................................................................................................................................12 Trustees........................................................................ -12 Trustees Statement........................................................................................................................................................................................................13 structure, Governance and Management...... Future Plans..... .13 ..15 Our Partners and Funders......................................... -15 Remuneration Statement............................................................................................................................................ ..... .15 Complaints....................................................................................... Compliance with Fundraising Standards............................................................................................ Financial Review.............. -15 .16 .17 Independent Auditor's Report to the Trustees............................................................................................ Statement of Financial Activities. ..20 ..24 Balance Sheet............................................................................................................. ..25 Statement of cash flows........................................................................................................ ..26 Notes to the financial statements for the year ended 31 December 2024...........................................................27
Chair's introduction l am delighted to introduce our annual report for 2024. At Green Corridor we continue our mission to provide young people with Special Educational Needs with a high quality, safe, positive, and enriching learning experience. We provide study plans centred around horticulture or catering alongside a functional I general skills programme. It is our intent to harness the unique strengths and abilities of our learners, so they are happy and confident to take their next steps and are prepared to enjoy life. Each of our learners. transitions to a destination that is best for them, including working, further education and accessing the community. 2024 has been year of stabilisation, we continue to update the learning pathways, curriculum, navigated changes to government policy and refreshed our board, with the introduction of three new trustees, enabled through the stepping down of two longstanding trustees. We implemented a new governance structure across the board of trustees and senior leadership team, which has had an immediate positive impact, improved communication, and oversight. The audited financial information in this annual report demonstrates that despite headwinds created by increased costs and lower learner numbers, Green Corridor is well placed financially as we close 2024 and move into 2025, with increased number of offers and acceptances for our September 2025 intake. We have continued to refresh and make changes to the site, curriculum and most recently updated our strategy. The strategy continues to be central to all plans, activity, and objectives for the current and future years. The response to all of these demonstrates the dedication of the entire team at Green Corridor and the effort to create an environment that provides a place for all learner and staff to thrive. I thank the team at Green Corridor for their dedication and hard work every day. I would also like to take this opportunity to say thank you to all of our supporters and volunteers, throughout the past year, in particular Heathrow Airport, dnata, Sunbelt Rentals, Stockley Park, Wilson James & St Peter's Hospital, whose continued support is crucial to Green Corridor. This year these companies have committed, time, space, equipment, and funds to supporting Green Corridor and this has enabled us to look at further enriching the educational offering and experiences available. As we look to coming year, we are pleased to welcome new and existing learners, continue to expand the offering at Green Corridor and improve the site to provide the best possible experience for our learners and staff. Nicole Jennings Chair of the board of trustees 20 June 2025
Greencorrid CEO'S introduction l am proud to introduce this annual report for 2024. Green Corridor continues to go from strength to strength and our learners have achieved many amazing things, often beyond their expectations and previous outcomes. Their progress is down to a combination of their hard work and the dedication of the staff team, trustees and volunteers. Highlights include the visit of the scissor truck from dnata that marked the beginning of a new partnership giving opportunities to our learners as well as our staff, the new PEP pathway and our partnership with Sunbelt Rentals. The end of the academic year in July saw a number of learners passing qualifications: we celebrated 41 entry level qualifications and l Level l and I level 2, including many learners who had not achieved formal qualifications before. The end of year party proved to be a great opportunity to celebrate their success with the whole of Green Corridor. September saw the launch of the pilot 'Personalised Employability Pathway, (PEP) which was just a single class in its first year, tutored by an experienced member of staff moving over from Horticulture. We have seen an increase in applications to this pathway in the autumn and expect this pathway to grow to 2 or 3 classes in 2025. Broadening our offer to help more learners experience Green Corridor came as a direct result of the strategy day reported on elsewhere. We are very grateful for the number of volunteers who helped us this year - from the dedication of our trustees to over100 volunteers, who worked with us either via various employers charity volunteer day schemes or from their own initiative which mean that our site continues to look beautiful all year round, and particularly in the growing season. We have been continuing to grow our partnerships and recently we had a Road Safety awareness day run by Sunbelt. This was an essential and significant day for our learners and in our mission to help them become independent individuals, road safety is a large part of this. Our Board of Trustees and Senior Leadership Team held a Strategy awayday to establish Green Corridor's strategic plans and we are excited to see this growth come to life as we continuo to lay solid foundations for the future. Since our last report, we have had a few changes in our Board of Trustees. In the summer, we said goodbye to one of our longest serving trustees Arnie who has contributed significantly to our growth and development over the years. At the same time, we welcome three new Trustees, Jason, Marisa, and Adam. Each bring a wealth of knowledge and experience. We will also be saying goodbye to Ashley this summer. Whilst we are always sad to see Trustees go, we are extremely grateful to Arnio and Ashley for everything they have done for Green Corridor. David Welch Chief Executive Officer
Greencorrid About Green Corridor Green Corridor is a charity that runs a Special Post-16 Institution (spi) for learners aged16-25 with an Education Health and Care Plan (EHCP). We specialise in Autism, working with about 50 learners each year on our site in Stanwell Moor, near Heathrow Terminal 5. Many of our learners have additional therapy funded through their EHCP, with over half having either Occupational Therapy or Speech and Language Therapy or both. During 2024 We offered learners Horticulture, Catering or our new Personalised Employment pathways, alongside functional skills, PSHE 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 employmenL a supported internship or social care. Activities, Achievements and Performance A new 3 year strategy for 2024-2026 As noted under 'subsequent events, in our 2023 repor¢ the trustees met and agreed an ambitious new strategy in January 2024, focusing the leadership of the charity on 4 priorities for the next 3 years. The trustees agreed that at Green Corridor our mission is that 'We provide young people with Special Educational Needs with a safe, positive & enriching, quality learning experience, Our Ambition We are ambitious for our learners, and the trustees agreed that Green Corridor is seeking 'To make the best of our learners so they are happy, content & confident to take their next steps & are equipped to enjoy life. Each learner will transition to a destination that is best for them, including working, further education & accessing the community., Our 4 Priorities Service Offering We want to prioritise what makes us different from other providers and to continue to develop our expertise and excellence. We are focused on our learners and ensuring that we are clear on whose needs we can meet. We want to offer a compelling curriculum that draws learners to our offering alongside supporting learners as they transition into and out of Green Corridor. 2. Strategic Partnerships Green Corridor has built excellent links to the local communities that we serve over recent years, and we are prioritising further developing these partnerships - with local employers, other Further Education providers, local charities and supporting our learners, families. This is to build connections that will improve outcomes for our learners and given them opportunities that would otherwise not be available to them. 3. Standards Our work is only possible if we meet the standards expected of a Special Post-16 Institution and a well- run charity. We are accountable to the Charity Commission and Ofsted and seek to exceed the standards expected of us. We do this via good leadership and governance, staff training, the colleague proposition, good safeguarding systems and by measuring and improving our environmental impact.
Green 4. Sustainable Model We are seeking to be a charity here for the long term - providing our services and impacting learners long into the future. To do so we are prioritising work on our funding model and fee structures which, along with a focus on our costs, will help Local Authorities in their duty to get best value for their residents. We are also improving the way that we tell the story of our work to our key stakeholders and partners. OL7r Ilalua- lljreacl in 2C23 As noted in our previous annual reporL the trustees agreed 3 values in July 2023 that Green Corridor stands for: Openness, Learning and Respect. We seek to model these in all our work - from the way we deal with staff and learners to the relationships we have with Local Authorities and our feeder schools. Year I strategy Progress Following the agreed strategy, the Senior Leadership Team (SLT) led by the CEO have worked hard to implement the first year of the plan. In September 2024 we launched the new pathway ('Personalised Employment Pathway,) to improve our service offering in response to the requests of potential learners as assessed on our open days. The pathway has included 4 new learners in a pilot scheme in 2024, and applications for the pathway in 2025 mean that we are expecting to add new classes in September 2025. We have also clarified our odmissions criteria for 2024 to help potential learners and families understand the profile of learners whose needs we are able to meet on our site. These new approaches led to14/. growth from 43 learners on roll in Jan-July 2024 to 49 on roll in September 2024. Working with local partners has led to an increase in the number and type of work experience placements that we are able to offer our learners. We offer learners placements with 11 different partners (2023 we offered placements with 8 different partners). These include placements with Wilson James (who provide security services), Dovecote café (a local SEN café) and the Heathrow Special Needs Farm. other partnership working has led to a large charitable donation of £12,000 from Sunbelt Rentals and since the year end, dnata has committed to donating £120,000 of Apprenticeship Levy funding for us to train our staff in 2025, which will be used during 2025 and onwards. The trustees are grateful for the support of the local organisations and are looking forward to fostering even closer ties in 2025. We have improved our colleague offer during the yeor - our annual benchmarking exercise resulted in new pay bands, and we have registered with the 'Living Wage Foundation, as a living wage employer - demonstrating our commitment to ensuring that staff are paid a fair day's pay for a fair day's work. We have also changed our EAP provider to one more aligned with our values. On top of this we have looked at ways to relieve pressure on staff by introducing a cleaning company to give our TA staff more time to do other elements of the role. We are actively looking at further improving the colleague offer in 2025. During 2024 we revised our fee structure and charging model, seeking to more closely align the fees that we charge with the costs that we incur. The trustees seek to ensure that each programme is self- funding, and that we avoid cross-subsidising between the various programmes that we offer. This revised fee structure has achieved its goal of simplitying our charging and offer making process without increasing the overall average cost per learner. Increased income reported during the year is resulting from increased learner numbers on roll. We are keen to ensure that Green Corridor is fit for today and prepared for the future. As such we believe that understanding and reducing our environmental impact is an important part of our
Green responsibility to our community. We struggled to complete an audit in 2024 due to difficulties finding a suitable audit partner but expect to do so early in 2025 with a view to understanding our carbon footprint and working to reduce corbon emissions from our work. Learners. Destinations 2024 At Green Corridor, we pride ourselves on supporting our learners, transitions to meaningful opportunities after they complete their time with us. Our dedicated Careers Lead works individually with each learner throughout their journey, ensuring they are well-prepared for their next steps. Our tracking shows that our 2024 graduates have successfully transitioned into four main pathways.. Direct Employment One of our learners secured a position with a local scaffolding firm. 2. Supported Internships: We've established valuable partnerships with local Supported Internship including a prestigious hotel group and a major shopping centre, providing three of our learners with structured workplace experiences that often lead to permanent positions. 3. Further Study: Six of our learners choose to continue their educational journey with other providers, building upon the foundation we've helped them establish. 4. Social Care.. We worked closely with local authorities to ensure appropriate social care arrangements for three of OLir learners who required ongoing support. Many of our leavers return to visit, sharing their successes with both staff and learners and maintaining the supportive relationships theYe built here. 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 2024 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 lef¢ 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 2024 destinations are shown in the graph. Apprenticeshit4 Unknown I Inclusion... Supp InLern Further Study Employment 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
Greencorrid 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 2024, 4 required reporting to the Local Authority. These are logged by the Safeguarding Team and trustees regularly monitor all incidents and actions including those not meeting the threshold for reporting. The staff safeguarding team meets weekly with additional meetings as required. The SENCO meeting 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. Our Safeguarding trustee has changed from Arnie Wickens to Marisa Sefton and We want to thank Arnie for all of his hard work and dedication to the board and the safeguarding sub- committee during his time working with Green Corridor. 'Green Corridor changed my son's life, Parent, During site visit Admissions Criteria The opening of the new pathway agreed by the board in January 2024 has led to a broadening of the cohort of learners on site. Whilst we remain committed to the new needs profile criteria of 2023, we -are now able to make offers to a more diverse rang-. of learners in terms of their subject preferences. Many learners come to us from school at age16 or18, and like many young people this age they are not clear on what they want to do longer term. Our historic catering and horticulture pathways work well for learners interested in working in those industries, learners who were not sure what they wanted to do were not suited to these and we were not able to meet their needs. The new pathway means that we are now able to meet the needs of learners who have similar needs profiles but are unsure about their future career aspirations, and therefore we can now meet their needs and admit them to Green Corridor. This has also increased the gender diversity of learners on roll. Therapies We offer learners therapies as dictated by their needs outlined in their EHCPS. This is mainly 37 Learners who have Occupational Therapy (OT) and 43 learners who have Speech and Language Therapy (SaLT). We also offer physiotherapy to 4 learners and counselling to 7 learners. The SENCO works in collaboration with therapists and therapy assistants to ensure every learner receives the appropriate type and quantity of therapy they require as outline on each individual EHCP. Both formal and informal assessments throughout the year onsure progress is monitored effectively.
Greencorrid Equality, Diversity and Inclusion We have reviewed and reflected on our recruitment processes, to ensure that our selection process is fair, reviewing job descriptions every time we recruit to ensure they are based on essential requirements for the role, and we give a flavour of interview questions to candidates in advance of the interview to support our neurodiverse candidates, for a number of our roles we do a practical assessment as well as interview, we will look to expand this to the majority of roles. We have gone from 9 % in 2022, to 22/0 in 2023 to 27.5/0 who do not identify as white British during 2024. This is much closer to the 51.82/0 of residents in the local community of Hillingdon, 52% of residents in Hounslow, and larger than the15.5/0 of Surrey residents who identity os non-white British. 46/0 of employees consider themselves to have a disability, learning difficulty or on going health condition. During the period of this report, 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 os our recruitment. We intend to adapt our processes further in order to improve our inclusivity and reduce barriers for neurodiverse applicants and employees. Our Gender pay gap for 2024 was 0.88/0 median (14.18/0 mean), this is slightly larger than 2023, where it was -2.4% median (9/0 mean), with lower quartile 20% male, 80/ female lower middle quartile, 32/. male, 68/. female, upper middle quartile 42/0 male, 58/ female, and upper quartile, 30/0 male and 70/. female. With only the lower quartile changing from with lower quartile 36/. male, 64% female in 2023 to 27/d male and 73/. female between 2023 and 2024. Men make up 30/0 of our'Norkforce. Ofsted The charity is registered with Ofsted (number'.146362). Wo were last inspected by Ofsted on 29th and 30th November 2023, with the report published by Ofsted in February 2024. We reported on this in our 2023 annual report. We anticipate a full inspection within18 months of the publication of this Ofsted report. The board is monitoring the changing inspection landscape carefully as we are aware that our next inspection may use different measurables and grading criteria. We continue to focus on the areas outlined in the Ofsted report and remain determined to improve outcomes for all our learners. A particular focus for 2024 was ensuring that all our learners progress is monitored and reviewed, leading to greater collaboration across departments and targeted interventions where necessary. We hove also focused on improving our therapy offer which led to a new approach being taken by the therapy team, including working with a new therapy provider. Green Corridor remains committed to ensuring that the quality of our provision does not get diluted by the organic growth that is planned for 2025, which means that our future strategy includes increasing our investment in quality during the coming year. 10
Greencorrid Our Staff - Thanks 2024 has been a year of continued and sustained growth and improvement, none of which would be possible without our wonderful staff and volunteers. Green Corridor ends the year in a strong financial and staff position for 2025 with exciting plans for both strategic and organic growth in the coming years. Green Corridor remains a life changing place for our learners who make good progress in our provision and is now a place where staff also talk about the positive experience that working here is. Our staff do more for our learners than the norm, and we want to put on record our thanks to them. The board wishes to extend particular thanks for the work of the volunteers at Green Corridor, including 2 trustees who resigned during the year.. the former Chair of Trustees, Ruth Kennedy whose determined leadership was vital to the charity during her time as chair and Arnie Wickens who as our longest serving trustee and Designated Safeguarding Trustee has given many hours to ensure the safety of our learners and Green Corridor's current success. Thank you. Subsequent Events In early 2025 the board met to assess progress against the 3 year strategy and to consider future goals and plans. The board reaff irmed their strategy and agreed further goals for 2025-2027.
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 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) Iresigned 25th Jan 2024] Arnie Wickens (resigned 18th Sep 2024) Nigel Fishwick (Vice Chair) Iresigned as Vice Chair 25th Jan 241 Nicole Jennings (Chair) [appointed Chair 25th Jan 2024] Amanda Owen (Vice Chair) [appointed as vice Chair 25th Jan 20241 Gareth Hughes Ashley de Safrin Jim Snaith (appointed 22" Feb 2024) Jo Salsbury (appointed 22" Feb 2024) Jason Knight (appointed 18th Sep 2024) Marisa Sefton (appointed 18th Sept 2024) Adam Sunderland (appointed 18th Sep 2024) David Welch.. Chief Executive Officer Tim Whitelaw.. Head of Education Dawn Mowbray.. Careers Lead Sarah Jones.. HR manager Lily Mccurdy: SENCO Key management personnel Registered office and operational address: Green Corridor, Main Rood Nurseries, Stanwell Moor Road, Staines-upon-Thames. TWI9 6BS Web address and phone number: www.greencorridor.org.uk 01753 687236 Auditor Azets Audit Services, Gladstone House, 77-79 High Street, Egham Surrey TW20 9HY Bankers CAF Bank Limited Virgin Money PLC 25 Kings Hill Avenue Jubilee House Kings Hill, Gosforth West Malling Newcastle upon Tyne Ken¢ ME19 4JQ NE3 4PL Lloyds Bank PLC PO Box 1000 Andover BX1 1LT Solicitors Russell-cooke Solicitors 2 Putney Hill, London, SW15 6AB 12
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 2024. The information contained on pages 3-13 forms part of the Trustees report and should be read in conjunction with it. 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 company's Articles are known as members of the Trustee Board. In setting the activities of the charity, the trustees have had due regard to the public benefit guidance issued by the charity commission. 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 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 75/0 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. 13
Greencorrid All new Trustees undertake an induction process including a briefing on our Strategic Plan, current 3- year Business Plon, 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. 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 2024 for formal business meetings. 'He is so happy at Green Corridor. He is happy to get into the taxi to go to GC and every day, he comes home happy too,. Parent of learner 14
Greencorrid 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 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 subjectslpathways 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, Sunbelt Rentals, dnata, Wilson James Ltd 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 2024 we employed 42 staff (2023 - 39) who provide the essential tutelage and support services to deliver our education, training and employment services. Staff costs of £1,373,268 (2023.. £1,208,930) including salaries, pension and national insurance contributions make up the largest proportion of the annual cost of running Green Corridor (circa 64/.). The charity has undertaken a benchmarking exercise in 2024 and continues to ensure salaries are in line with median pay points for the sector. The trustees consider the bandings of the roles and the pay levels of these bands in our June board meeting each year and considers the advice of the REMCO subcommittee in all matters related to pay. A pay proposal is drafted by the HR Manager ond CEO for the REMCO to consider which is presented to the full board for approval. Pay of key management personnel is considered by REMCO as part of this process. CEO pay is reserved to the board and discussed at the June meeting without any staff members present. Any pay adjustments are made in time for the new academic year in September. In 2024 one member of staff was paid more than £80,000 but less than £90,000 (2023: One member of staff was paid more than £70,000). Complaints A total of O complaints were received by the Board during 2024 through the Whistleblowing and Grievance policies (2023: 0). This is unchanged on last year. The board's improved policies and processes continue to tackle issues pre-emptively and successfully. The board monitors complaints through the whistleblowing and grievance policies very carefully. 15
Greencorrid One referral was made to the Teacher Referral Agency (TRA) in 2023 about a former member of staff and the board will act on any recommendations when they are received. The backlog at the TRA means that no formal recommendations have been so far received. 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 outIned 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 ond 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. Trustee Insurance '[My Daughter] is happier at Green Corridor than her previous school, Parent during annual review Trustees benefit from the professional indemnity insurance purchased by the charitable company. Further details are given in note 22. 16
Greencorrid Financial Review The principal funding sources for the charity during 2024 came from fee-earned income of £1,300,922 (2023". £1,304,065) which was 66/0 of total income (2023.. 64/) from Education, Health and Care Plans and Direct Funding from ESFA (Education & Skills Funding Agency) of £667,533 (2023: 739,017). This increase in fe@-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 £192,112 (2023.. £102,534). This includes provision of our site, grant funding from National Lottery and DfE Capital Funds. DfE revenue is recognised as part of the fee earned income above. 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 improvetheir 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 unrestricted surplus of £194,417 (2023.. £23,763) means that our unrestricted reserves stand at £814,641 (2023.. £620,224) which is 5.0 months of expenditure. We are 1.0 months (£161,492) below our 6- month targe¢ which we forecast to achieve in the early months of 2025. £99,481 (2023: £167,305) of the charity's unrestricted reserves comprises tangible fixed assets. As such, the charity's free reserves at 31 December 2024 were £715,160 (2023: £452,91g). In addition to our unrestricted reserves, we have additional restricted reserves totalling £32,000(made up of Lottery fund £20,000 and Sunbelt £12,000, both of which have funded the purchase of a minibus in 2025). Total reserves including funds restricted to a specific purpose are £846,641 (2023.. £623,037). 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 board have identified strategic risks allied to Governance, Finance and operational risks which include changes to government policy and process as well as ensuring that key relationships which enable Green Corridor to operate are maintained at multiple levels within both Green Corridor and our partners. 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. 18
Greencorrid 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: 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 material departures disclosed and explained in the financial statements; and Prepare the financial statements on a going concern basis unless it is inappropriate to presumethat 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.. 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 for the 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 other jurisdictions. 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 2024 was 10 (2023: 8). 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 £0 (2023.. £62.50) Auditor Azets Audit Services was appointed as the choritable 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 20th June 2025 and signed on their behalf by Nicole Jennings ( air) Dated.. 20th June 2025 19
Greencorrid Independent Auditor's Report to the Trustees Qpinion We have audited the financial statements of The Green Corridor (the 'charitable company.) for the year ended 31st December 2024 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.. give a true and fair view of the state of the charitable company's affairs as at 31st December 2024, and of its incoming resources and application of resources, including its income and expenditure, 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 thot 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. othar 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 20
Greencorrid 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. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the trustees, report, including the directors, report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and the directors, report included within the trustees, report have been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, wo have not identified material misstatements in the directors, report included within the trustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us,. or the financial statements are not in agreement with the accounting records and returns; or certain disclosures of trustees, remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit; or the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the trustees, report and from the requirement to prepare a strategic report. 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 Our objectives are to obtain reasonable assurance about whether the financial statements as o whole are free from matorial 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 21
Greencorrid oudit 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. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's report. Extent to which the audit was considered capable of detecting irregularities, including fraud Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council's website, to detect material misstatements in respect of irregularities, including fraud. We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we 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. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud. In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included: Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud,. Reviewing minutes of meetings of those charged with governance; Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the company through enquiry and inspection Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations. Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and revieing accounting estimates for bias. Bocause of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement arising from fraud is also higher than for one resulting from error, as fraud may involve collusion, forgery, interntional omissions, misrepresentations, or the override of internal control. Use of our report This report is made solely to tho 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 22
Greencorrid state to the charitable companys 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. Paul Creasey (Senior Statutory Auditor) For and on behalf of Azets Audit Services Gladstone House 77-79 High Street Egham Surrey TW20 9HY Date: 2010612025 23
Greencorrid Financial Report Statement of Financial Activities Including Income and Expenditure Account, for the year ended 31st December 2024 Total Total Unrestricted Restricted Funds Funds Funds Funds 2024 2023 Income Notes Donations and legacies 3 Interest received 110,436 81,676 192,112 102,534 12,281 12,281 5,983 Charitable activities 1,300,922 667,533 1,968,455 2,035,576 Total income 1.423,639 749.209 2.172.848 2.144.093 Expenditure: Raising funds Charitable activities 25,620 25,620 46,505 1,203,602 720,022 1,923,624 2,073,825 Total expenditure Net incomel(expenditure) and net movement in 1.229,222 720,022 1,949.244 2.120.330 funds for the year Reconciliation of funds Total funds brought fonmard 194,417 29,187 223,604 23,763 620,224 2,813 623,037 599,274 Total funds carried forward £ 814.641 £ 32,000 £ 846,641 £ 623,037 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 requiroments for an income and expenditure account under the Companies Act 2006. The notes on pages 27 to 38 form part of these accounts. 24
Greencorrid Balance Sheet As at 31 December2024 Note 2024 2023 Fixed assets Tangible Assets 99,481 167,305 Current assets Debtors Cash at bank and in hand 10 68,635 762,100 185,966 370,958 830,735 556,924 Liabilities: Creditors: Amount falling due within one year (83,575) (101,192) Net current assets 747,160 455,732 Net assets 846.641 623,037 The funds of the charity: Restricted income funds Unrestricted income funds General reserve 14 32,000 2,813 814,641 620,224 Total charity funds 846.641 623,037 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 27 to 38 form part of these accounts. The accounts were approved by the Board on 20th June 2025 Nicole Jennings (Chair) Trustee Charity Registration No.1092093. Company Registration No. 04267457 25
Greencorrid Statement of cash tlows For theyear ended 31 December 2024 Note 2024 2023 Cash flows from operating activities 413,574 264,344 Cash flows from investing activities Interest received 12,281 5,983 Purchase of fixed assets (25,343) Net cash used inl(provided by) investing activities (13.062) 5,983 Cash flow from financing activities Interest paid (1,037) (13,446) Short term loan received 100,000 (91,667) Short term loan repaid (8,333) Net cash used inl(provided by) financing activities (9,370) (5.113) Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year 391,142 265,214 370,958 105,744 762,100 370,958 (A) Reconciliation of net income to net cash flow from operating activities: 2024 2023 Net income l (expenditure) for reporting period (as per statement of financial activities) Interest received 223,604 (12,281) 23,763 (5,983) Interest paid 1,037 13,446 26
Greencorrid Depreciation charge 93,167 115,386 (Increase)/decrease in debtors Increasel(decrease) in creditors 117,331 (9,284) 152,041 (34,309) Net cash used in operating activities 413,574 264,344 2024 2023 Analysis of cash and cash equivalents Cash at bank and in hand 762,100 370,958 Analysis of changes in net funds 0110112024 Cashflow 3111212024 Cash and Cash Equivalents Cash Bank Loan 370,958 (9,370) 361,588 391,142 762,100 9,370 400.512 Total 762,100 Notes to the financial statements for the year ended 31 December 2024 statutory information The Green Corridor is a private charitable company limited by guarantee, registered in England and Wales. The registered off ico and principal place of business is Stanwell Moor Road, Staines-upon- Thames, Middlesex, TW19 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 FRS102, Charity SORP effective from 2019) 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. Public benefit entity The Green Corridor meets the definition of a public benefit entity under FRSIO2. 27
Greencorrid 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. 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 olso 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 ore 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 oconomic benefit on the open market,. a corresponding amount is then recognised in expenditure in the period of receipt. Intarest r•eeivuble 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. 50Yv of the Marketing & HR Off icer is allocated to raising funds and 50Y. to support. 28
Greencorrid 100 % of the Administrator role is allocated to support. IOO/o 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 Financiol 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.. 33/0 on cost Kitchen: 25/0 on cost Portable Classrooms.. 25/0 on cost Computer Equipment: 33/0 on cost Motor vehicles: 25% on cost Site improvements & internal building works: 25% on cost Le¥ising llnd nire Durchase cornmitments 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. Pensions The charitable company 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 us they are incurred. The charitable company has no liability under the scheme other than for the payment of those contributions. Employees are automatically enrolled into this scheme, but can opt out if they wish in line with Government legislation.. 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. Finuncial ins*riirnents 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. 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 ancl provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 29
Greencorrid 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 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 partner company charity days and fundraising efforts. 30
Greencorrid Notes to the financial statements for the year ended 31 December 2024: continued 3 Donations and legacies Unrestricted Restricted Total 2024 Other donations Product Sale National Lottery Fund DfE Capital Fund Donations Non Gift Aid Other Income Heathrow Airport Ltd Gift in Kind Building & Land 2,376 267 2,376 267 20,000 49,676 17,286 2,507 20,000 49,676 12,000 5,286 2,507 100,000 110,436 100,000 192.112 81.676 Donations and legacies - prior year comparative 2023 Grant Heathrow Airport Ltd Gift in Kind - Building & Land Other donations 851 851 100,000 1,683 102.534 100,000 1,683 102.534 The premises from which the charitable organisation operates on a lease from Heathrow Airport Limited. A new lease agreement was renewed on 2nd October 2024 for 5 years at a consideration of I peppercorn per annum. The lease rentlbenefit received is recognised in the accounts at the annual rental equivalent value of £lOO,000 (2023 - £100,000). Income from charitable activities Unrestricted Restricted Total 2024 Income from Education Health Care Plans Education and Skills Funding Agency 1,300,922 1,300,922 667,533 667.533 667,533 1.968,455 1.300.922 31
Greencorrid Income fn?m Charitable activities - prior year comparative 2023 Income from Education Health Care Plans Education and Skills Funding Agency Income from training provision Corporate volunteer days and other Fundraising sales 1,296,214 1,296,214 739,017 739,017 345 345 1.296.559 739,017 2,035.576 Analysis of 5 expenditure Charitable activities Cost Education raising Training funds Employment 2024 Total staff costs Direct project costs Staff training Audit fees 17,389 573,195 121,849 11,374 32,612 82,539 667,533 1,373.268 2,813 124.662 11.374 12,750 54 93,168 100.000 21,540 85,438 2,433 137,892 148.530 47,849 241,971 720,022 1.949.244 12,750 54 Trustee related Depreciation Gift in Kind Premises 43,492 100,000 63,898 6,014 919,822 49,676 Other costs 2,191 19,580 Support costs 5,043 Governance costs 997 Total expenditure 2024 25,620 236,928 46,852 (47,849) 1.203.602 (241,971) 720,022 1,949,244 Of the total expenditure: 2024 2023 Unrestricted Restricted 1.229.222 720.022 2,120,330 Total 1.949.244 2,120,330 32
Greencorrid Notes to the financial statements for the year ended 31 December 2024: continued 5 Analysis of expenditure - prior year comparative Charitable activities Cost of Education raising Training Governance funds Employment costs Support costs 2023 Total Staff costs Direct project costs Staff training Audit fees Trustee related Depreciation Gift in Kind Premises Other costs 35,245 1,029,231 242,096 29,228 25,560 118,894 1,208.930 242.096 29.228 6.000 2.544 115.386 100.000 7,068 107.751 292,249 308.395 418,211 2.120.330 (418,211) 6,000 2,544 115,386 100,000 100,683 7,107 1,623, 731 409,038 41,055 1,167 36,412 9,173 921 7,872 41,976 Support costs Governance costs (41,976) Total expenditure 2023 46.506 2,073.824 2.120.330 6 Net income for the year (after charging) 2024 2023 Depreciation of tangible fixed assets owned by the charitable company Operating lease rentals. equipment Audit 93,167 461 12,750 115,386 271 6,000 33
Greencorrid Notes to the financial statements for the year ended 31 December 2024: continued 7 Staff costs Staff costs during the year were: 2024 2023 Salaries and wages Social Security costs other pension costs 1,232,426 114,767 26,075 1,373.268 1,088,809 96,437 23,684 1,208,930 Numberof employees The average monthly number of employees during the year was: 2024 2023 Training Support 31 11 34 The key management personnel of the charitable company included the Trustees and those listed on page12. Total employee benefits paid to key management personnel including NIC and pension were £298,622 (2023: £238,461). One employee was paid between £90,001- £100,000 (2023: one employee between £70,001- 80,000). 8 Comparative Funds - Statement of Financial Activities for the Year Ended 31 December 2023 Total Funds Unrestricted Funds Restricted Funds 2023 Income Donations and legacies Interest received Charitable activities Total income Expenditure: Raising funds Charitable activities Total expenditure Notes 102,534 5,983 2,035,576 2.144.093 102,534 5,983 2,035,576 2,144.093 46,505 2,073,825 2.120.330 46,505 2,073,825 2.720,330 Net income/(expenditure) and net movement in funds for the year Reconciliation of funds 23,763 Total funds brought forward 596,461 23,763 599,274 2,813 Total funds carried forward £ 620,224 £ 2,813 £623.037 34
Greencorrid Notes to the financlal statements for the year ended 31 December 2024: continued 9 Tangible fixed assets Cost: At l January 2024 Additions at cost 65,100 21,441 149,738 20,919 2,722 78,254 241,670 555,681 25,343 1,180 Disposals At 31 December 2024 Depreciation: At l January 2024 Charge for year On disposals At 31 December 2024 86,547 152.460 20.919 78,254 241.670 1.180 581,024 52,568 13,725 130,921 20,919 18,926 78,254 105,714 60,417 388,376 93,167 98 66,293 149.847 20.919 78,254 166.131 98 481.543 Net bookvalue: At 31 December 2024 20.248 12,532 2,613 18,817 75.539 1.082 135,956 99.481 167,305 At 31 December 2023 10 Debtors Due within one year: 2024 2023 Trade debtors Accrued income and other debtors Prepayments staff Loan 38,987 9,207 14,137 6,304 68,635 93,607 82,577 9,782 185,966 Creditors Amounts falling due within one year: 2024 2023 Trade creditors Social Security and other taxes Pension other creditors Accruals Deferred income Bank loan 32,701 29,418 4,680 211 16,565 16,608 27,992 10,482 32,888 3,641 9,370 83.575 101,192 Notes to the financial statements for the year ended 31 December 2024: continued 35
Greencorrid 12 Analysis of net assets between funds Unrestricted Restricted Funds Funds Total Funds Fund Balances at 31 December 2024 are represented by. Tangible Fixed Assets Current Assets Creditors: Amounts falling due within one year Total net assets 99,481 798,735 99,481 830,735 32,000 (83,575) (83,575) 814.641 32.000 846.641 13 Analysis of net assets between funds - comparative 2023 Unrestricted Restricted Funds Funds Total Funds Fund Balances at 31 December 2023 are represented by. Tangible Fixed Assets Current Assets Creditors: Amounts falling due within one year Total net assets 167,305 554,111 167,305 556,924 2,873 (101,192) (101,192) 620.224 2.813 623.037 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 Dec2024 Jan 2024 Restricted Funds Heathrow Community Trust National Lottery Fund DfE Capital Fund Donations Non Gift Aid - Sunbelt ESFA 2,813 (2,813) 20,000 49,676 12,000 667,533 749.209 20,000 (49,676) 12.000 (667,533) (720.022) Total Restricted Funds Unrestricted funds: General funds Total funds 2,813 32.000 620,224 623.037 1,423,639 (1,229.222) 2.172.848 (1.949.244) 814,641 846.641 36
Greencorrid Restricted Funds- description Heathrow Community Trust: funding to purchase equipment to facilitate learner enrichment activities. National Lottery and Sunbelt . funding to purchase Green Corridor Minibus Funds - comparative 2023 The income funds of the charity include restricted and unrestricted funds cornprising the following unexpended balances of donations and grants held on trustr 15 At Incoming Jan-2023 Outgoing At Dec-2023 Restricted Funds Heathrow Community Trust Total Restricted Funds Unrestricted funds: General funds 2,813 2.813 2.813 2.813 596.461 2.144.093 (2,120,330) 620.224 Total funds 599.274 2.144.093 (2.120,330) 623.037 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 2024 (2023: 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. Reimbursements claimed £0 in 2024 (2023. £62.50) 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 2023 Contributions payable by the charitable company for the year 26,075 23,684 At 31 December 2024 £4680 was outstanding, paid in February 2025 (2023". £10,482). 37
Greencorrid 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 2024 2023 Less than one year One to five years 435 3,732 245 551 21 Contingent assets or liabilities There are no contingent assets or liabilities at December 2024 (2023: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 £460 (2023: £526). 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. 38
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