2025-03-31-accounts

REGISTERED COMPANY NUMBER: 05687558 (England and Wales) REGISTERED CHARITY NUMBER: 1115627 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31sr MARCH 2025 FOR THAMES CHASE TRusf LZMITED Clemence Hoar Cumtnings Chartered Accountants and Statutory Auditor RNerside House 1-5 Como Street Rotnford Essex RM7 7DN

THAMES CHASE TRUST LIMITED CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 Page Report of the Trustees Report of the Independent Auditors statement of Financial Activities io Balance Sheet li Cash Flow Statement 12 Notes to the Cash Flow Statement 13 Notes to the Flnanclal Statements 14 to 22 Detailed Statement of Finanaal Activities 23 to 24

THAMES CHASE TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 The trustees who are also directors of the charity for the purposes of the Companie5 Act 2006, present thelr report with the financial statements of the charity for the year ended 31st March 2025. The trustees have adopted the provi5ion5 of Accountlng and Reportlng 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) (effective l January 2019). OBJECTIVES AND ACTIVITJES OBJECTS In April 2011 the Thames Chase Trust formally took over responsibility from local authorities, for pursuing landscape regeneration and better access to and knowledge or, the countryside within the boundaries of the Thame5 Chase Community Forest. The objects of the Charity are to promote for the benefit of the public generally any charitable purpose within London and E55ex and the Thames Gateway area and beyond connected with the enhancement and improvement, maintenance and protection of the environment and landscape and in particular to: I promote, provide and enhance woodland for the benefit of the public. 2 promote the general improvement of agriculture and of industry and commerce, particularly in relation to woodland or forestry produtt5' 3 promote and provide for the improvement of derelict land or harmful sltes,. 4 provlde or help to provide for the general public facilities in the interests of social welfare for recreation and lelsure tlme occupatlon particularty involvlng the enjoyment of land and woodland as a public amenity {and in furtheran￿ to help to provide safe and convenlent routes and modes of transport for the public, for safe cycling, and for the development of facilities including nature tralls, reserves and sanctuarie5, horse and cycle and footwaysrt parkland and visitor facilities and car parks) 5 promote community participatFon in healthy recreation by providing facilities for playlng partlcular sports educate the publlc In environmental matters. In ecology and provide better appreciation of the environments and ways of better serving, protectlng and improving the same and education and tralnlng in all matters relating to the environment and its interattion with the soclal and economlc wellbeing of the communlty. 7 promote the arts Wlthln the woodland and natural envlronments; 8 promote for the benefit of the public the ecology and use of the natural environment and all specles living in it. 9 promote for the beneflt of the public the conservation, enhancement and improvement of the environment and to educate the public in the importance of sustainable development in relation to all the activities of the Charity. For the purpose of this clause the phrase "sustainable development" shall mean development that meets the needs of the present without compromising the ability of future generations to meet their own needs and in applying this definition regard shall be had to the following factors, to social progress, which recognlses the needs of everyone. effective protection of the environment. prudent Use of natural resources and maintenance of high and stable levels of economic growth and employment. In pursuit of its objects the Charity shall endeavour to engage the participation of all sectors or the community in its attivities Page I

THAMES CHASE TRusf LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 OBJECTIVES AND ACTIVITIES Review of activities During 2024125 the Trust continued to successfully develop conservation and landscape improvement project5 and to support its overall activities for the benefit of local communltles. Thls has been carrled out throughout the expanded Community Forest, now Increased to 98 square miles from the origlnal area of 40 square miles. Income from grants. donatlons and varlous fundraising activities totalled £1,494,350 (2024: £849,807). A total of £1,438,099 (2024., £641,705) was invested directly in the Trust's charitable work. As a consequence, the Trust's Accounts for the year show a surplus of £56,251{2024: £208,102). The Trust could not have undertaken the yearfs activities without the help of our tremendous team of staff. volunteers and supporters. The Trust has continued to look forward and plan for the longer term development of the Community Forest. In March 2015 the Trust formally launched the thlrd edltion of the Thames Chase Plan the overarching strateglc document that guides the work of the Trust. The Plan Set out the vision for the Thames Chase Community Forest over the next 10 years. Transforniing landscapes, transforming lives. The Trust continued to work closely to the Plan and during 2024125 commenced work to refresh the Thames Chase Plan for publication of a fourth edition In 2025. To promote the Interp￿tatIOn of and improve the flow of inforn)ation relating to the natural environment within and j'ust beyond the boundaries of the Thames Chase Community Forest, the Trust has contlnued to actively maintsin the Thames Chase webslte and social media platforms. These not only help to provide up-to-date information regarding Thames Chase Trust and our actlvities, but a150 links related organlsatlons and actlvities throughout the Community Forest area. Walkingi running & riding; nature & wildlife, health, and history & heritage headings generate helpful pathways. A new website is currently In the planning stage. During 2024/25 the Trust successfully secured further grants to support progressive development projects across the Community Forest, including major funding fmm DEFRA for the fifth year of the Trees for Climate tree planting programme. The Trust contlnues to perform the Legacy Body mle for the Land of the Fanns Landscape Partnership Scheme {2017-2022). The overall programme comprised investment of in eX￿sS of £2.4 Million, including a grant of £1.359 Million from the National Lottery Heritage Fund, supplemented by financial support from other organisations. This enabled a programme of 27 herltage, environment and community projects. The Trust was formally appointed to act as the Legacy Body to ensure and safeguard on-going legacy through rna1ntenan￿ and management. During 2024125 the Trust's Consultant Director and Deputy Director have worked closely with the Board of Trustees and our partners and taken forward projects and strategic initiatives including those summarised below. The Trust has continued to work with the national England's Community Forests neI￿Ork to progress the DEFRA funded Trees for Climate programme. Thames Chase Trust is the lead Community Forest for East London and South-west Essex. During Year 5 the Trust Invested a further £1,100,409 (Revenue & Capital) to successfully complete 44 projects, planting 164,973 trees and hedgerows across 49 hectares with our partners, including Brentwood Borough Council, London Borough of Havering, Thurrock Councll, London Borough of Barking and Dagenham, London Borough of Newham, Epping Forest District Counc51, City of Chelmsford, local farmers, schools and other local organisation5. The programme ha5 been extended by at least an additional year, with a year 6 allocation of 63 hectares for completion during 2025126. The Government's decision on the full extent of phase 2 funding for the initiative is awalted. The Trust has eontinued to strengthen its partnershlp worklng wlth local and county authoritie5. The Trust s once again working with one county authority partner and five local authority partners. Collectivelyi the work cofflpleted by the Trust to sustain these partnerships secured £34,000 Income for the Trust in 2024125. The strengthened network of strategic partners has resulted in the creation of the Thames Chase strategic Partnership Board. This group meets quarterly and ensures that partners are fully engaged in the development of the Community Forest and are able to influence the delivery of the Thames Chase Plan. The Thames Chase Strateglc Partnershlp Board will be the Advisory Group for the creation of the next Thames Chase Plan (2025-2035). Page 2

THAMES CHASE TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 OBJECTIVES AND ACTIVITIES The Trust has continued to actively engage with the South Essex Catchment Partnership and the Rodingi Beam & Ingrebourne Catchment Partnership. The Trust Sustained its Co-hostlng arran9ement with Thames21 in 2024125. This secured investment of £30,000 into the Community Forest. The Trust wlth Thame521 also worked in partnership to utilise addltional funding from the Thames Water Catchment Partnership Support Fund to increase capacity and the scope for co-hosting in the RBI CP. This additional fundlng brought In a further £22,000 into the Community Forest. The Environment Agency has confirmed that Catchment Partnership hosting funding will be available in 2025126 and the Trust has Secured agreement from Thames21 that we will jointly co-host both Partnerships again in 2025126. Thi5 will bring a minimum of £30,000 Investment into the Community Forest. Thame5 Water has confirmed that the Thames Water Catchment Partnership Support Fund is for 5 years in total, with £15,000 funding potentially available for years 2 to 5. The Trust has continued to work wlth the Greater Low)don Authority, Forestry Commission London, and an extensive list of pan-London partners to drive forward the new London Urban Forest Plan (LUFP). The Trust is an influential member of the LUFP Working Group, ensuring that there is dear reference to Thames Chase throughout the document. The Trust is also an artive member of the London Green Infrastructure Partnershipi influenclng the development of pan-London partnershipst projects and income generatlon. The Trust Is actlvely engaged wlth the emerging Local Nature Partnership5 in London and Essex whlch wlll influence the creation of Local Nature Recovery Strategies for these areas. The Trust is speclfically supporting the Woodland Advisory Groupi actively working with many partners to develop thi5. The Trust has continued to develop the Community Tree Nursery (CTN) at the Forest. The newly installed tree nursery extension, sponsored by corporate partners ma￿ Construction, is being developed to 5UPPOrt tree planting across the community Forest. The existing CTN is well used as a community educatlon space, supportlng volunteer session5 as well as youth groups and local communlty groups. The Trust received funding from the Veolla Envlronmental Trust for a replacement play area at the Thames Chase Forest Centre, as the previous area had come to the end of its Ilfe. The Trust worked with ESP Play, play9round equlpment specialists, to design and build a new play area, which opened in February 2025. The Trust has also continued to work with Forestry England to plan and develop play facilities at the Thames Chase forest country park. Thanks to DEFRA funding Forestry England have been able to add two new play features to the woodland. The "Woodcutterfs Cottage" opened in March 2025 and the "Forest Glade" opened in Summer 2025 following some additional grass seedlng. The Trust has been reviewlng operations at the Thatne5 Chase Forest Centre. to propose and develop ways in which the Trust can make the best use of Its facilities and maximise the offer for visitors. Thls has made excellent progress, seeking to achleve three key objettlves of increasing income generation, provldlng a day's offer to families and visitors, and promoting and Interpreting the work of the Trust across the 98 square mlles of Thames Chase Community Forest. The Thames Chase Forest Centre Tea Room opeFJed in July 2023 which has supported the day's offer and brought additional visitors back to the Forest Centre. The Trust has CoMmen￿d its refresh of the next Thames Chase Plan. This will be the approved Forest Plan for Thames Chase Communlty Forest. The prO￿sS Is being led by the Consultant Director, to complete and publlsh a new Plan by Autumn 2025. The Trust has continued to deliver its growth plans for the All Staff Team. The Trust as also contlnued to manage a growing group of conservation volunteers, led by the Programmes Teatn. These volunteers have worked to assist in maintaining public open space across the Community Forest in local authorities and organisatlons that have countryslde to manage. The Trust currently has 98 volunteers provldlng valLsable support across a varied range of attivltles. Page 3

THAMES CHASE TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 OBJECTIVES AND ACTIVITIES The Thames Chase Trust is responsible for the running of the Forest Centre (the complex of buildings Including a Visitors Centre and 17th Century Essex Barn, in Pike Lane, Upminster). The Centre is a key tool for helping the communlty learn from and enjoy green space. Visitor numbers totalled around 76,000 during 2024125. Our on-site faclllties together with Forestry England's Communlty Woodland have proved popular attractlons. As a registered charity the Trust remains heavily reliant on donation5 and fundraising to supplement grant income. Major events in 2024125 included our 8th Annual Art Exhibltlon featuring works of art produced by talented local artists, the popular October Apple Day, the Spring Fair and a Winter Wellbeing Day at Thame5 Chase in partnership with Forestry England. With the major conservation plans and projects cU￿entlY in hand, in particular DEFRA Trees for Climate, 2025126 promises to be another challenging and exciting year for the Trust. To learn more and obtain further information, including a copy of the Thames Chase Plan, please visit our website at www.thame5chase.Drg.uk. Public benefit The Trustees have complied with the duty in Sectlon 17 of the Charitles Act 2011 to have due regard to public benefit guidance publlshed by the Charfties Commission. They have referred to the guldantr in the Charity Commission's general guidance on Public Benefit when revlewlng the Trust's alms and objectives and in ptannlng future activities a5 demonstrated above. STRATEGIC REPORT Risk Management The Trustees have a duty to identify and review the risks to whlch the charity Is exposed and to ensure appropriate controls are in place to provide Insurance cover and reasonable policies are in place to provide assurance against fraud and error. The Board ha5 formulated a Risk Register to help regular review and manage areas of potential rlsk. In addition, policie5 and prO￿dureS to support management and control are in place with specified review dates. Reserves policy The Trust's reserves policy has been forniulated with referen￿ to the current Rlsk Register. As a charity the Trust is rellant financially on grants, donations and fundraising for a large proportion of annual Income. Thls Is subject to fluctuation and is influenced by the extemal economic environment (as was experiencerj by the impact of COVID19). It is therefore important to keep a financial buffer to support potential recovery planning, in the light of any significant future income loss. As a consequence, the Board considers it prudent to aim to hold sufficient reserves of unrestricted funds to cover up to twelve month5 of the Trust's operating costs. Any project speC￿led grant income held to meet associated commitments required by funders, and fund5 retained to contrlbute as matched funding to projects, will be held separately. Followlng the successful grant award from the National Lottery Heritage Fund for the Land of the Fann5 Project, the Trust set up a Designated Fund within reserves to hold funds to support both the management and maintenants of completed projects, and the longer term scheme legacy. As at 31st March 2025 the Designated Fund totalled £223,597 {2024:£83,720). The Trust embarked on the excltlng DEFRA Trees for Cllmate Programme in 2020121. A sum of £40,871 of capltal grant fundlng received and unused from Year l is retained in a separate Restrcited Fund. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust, and constitutes a limited companyi Ilmited by guarantee, as defined by the Companies Act 2006. REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Company number 05687558 (England and Wales) Registered Charity number 1115627 Page 4

THAMES CHASE TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 202S Reglstered office Clo Thames Chase The Forest Centre Broadfields Pike Lane Upmlnster RM14 3NS Trustees J P Meehan (Chairman) (appointed 22.5.25) M J Barkwlth S M Cantle R C Hirst (resigned 3.12.25) D W Langley N W Langley l M Pirie (appointed 28. 11.24) G Anderson (resigned 22.5.25) C Burt {resigned 23.5.24) S L Luheshi (appointed 28.11.24} (resigned 22.5.25) P V McLoughlin {appointed 28.11.24) (resigned 29.8.25) O Rogers (resigned 22.10.24) Auditors Clemence Hoar Cummings Chartered Accountants and Statutory Auditor Rlverside House 1-5 Como Street Romford Essex RM7 7DN STATEMENT OF TRUSTEES. RESPONSIBILZTIES The trustees (who are also the directors of Thames Chase Trust Limlted for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Klngdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requlres the trustees to prepare financial statements for each financial year. Under that law, the trustees have eletted to prepare the financlal statements in accordance with United Kingdom Generally Accepted Accounting Practi￿ (United Kingdom Accountlng Standards and applicable13w). Under company law the trustees must not approve the financial statements unle55 they a￿ satlsfied that they give a true and fair view of the state of affairs of the charltable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparlng those financial statements, the trustee5 are required to select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP. make Judgements and estlmates that are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. prepare the financial statements on the going concern basis unless It Is Inappropriate to presume that the charitable company will continue In business. The trustees are responsible for keeping proper accountlng records whlch dlsclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguardlng the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 5

THAMES CHASE TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 STATEMENT OF TRUSTEES, RESPONSIBILITIES - continued En so far as the trustees are aware- there is no relevant audit Information of whlch the tharitable company's auditors are unaware, and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audlt Information and to establish that the auditors are aware of that information. AUDITORS The auditors, Clemence Hoar Cummings, will be proposed for re-appointment at the forthcoming Annual General Meetlng. Report of the trustees, Incor the company directors, on ting a str te approved by order of the board of trustees, as and signed on the board's behalf by: M J Barkwith - Trustee Page 6

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THAMES CHASE TRUST LIMITED Opinlon We have audited the financlal statements of Thames Chase Trust Limited (the 'charitable company.) for the year ended 31st March 2025 whlch comprlse the Statement of Financlal Actlvlties, the Balance Sheet, the Cash Flow Statement and notes to the finanoal statements, including a summary of significant accounting pollcies. The financial reporting framework that has been applied in their preparation is appllcable law and United Kingdom Accounting Standards (United Klngdom Generally Accepted Accounting Prartice). In our oplnlon the flnanclal statements". give a true and falr vlew of the state of the tharitable company's affair5 as at 31st March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended,. have been properly prepared In accordan￿ WFth United Kingdom Generally AC￿pted Accounting Practice. and have been prepared in accordance with the requirements of the Companles Act 2006. Basls 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 descrlbed In the Audltors, responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordan￿ with the ethlcal requirements that are relevant to our audit of the financial statements in the UK, Includlng the FRC'S Ethlcal 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 con￿rn basis of accountlng In the preparatlon of the financial statements is appropriate. Based on the work we have perfonned, we have not identified any materlal uncertainties relatlng to events or conditions that, individually or collettively, may cast significant doubt on the charitable company's ability to contlnue as a going con￿rn for a period of at least twelve months from when the financial statements are authorised for issue. Our responslbilities and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this report. other information The trustees are responsible for the other information. The other information comprises the information Included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our oplnlon on the financial statements does not cover the other information and, except to the extent otherwlse explicltly stated in OLJr report, we do not express any form of assurance concluslon thereon. In connection with our audit of the financial statements, our responsibility IS to read the other information and, in dolng so, conslder whether the other information is materially incon51Stent with the financial statements or our knowledge obtained in the audit or otheNise appears to be materlally mlsstated. 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. Opinlons 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 Report of the Trustees for the finanoal year for which the flnanclal statements are prepared is consistent with the financial statements. and the Report of the Trustees has been prepared in accordance with applicable legal requirements. Page 7

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THAMES CHASE TRUST LIMITED Matters on which we are requlred to report by exception In the light of the knowledge and understanding of the charitable company and it5 environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. We have nothing to report In respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept or returns adequate for our audit have not been recelved from branches not visited by us. or the financial statements are not In agreement wlth the accountlng records and returns; or rtain disclosures of trustees, remuneration specified by law are not made; or we have not received all the information and explanations we require for our audlt. Responslbllltles of trustees explained more fully in the Statement of Trustees. Responsibilities, the trustees (who are also the directors Df the charitable company for the pU￿oseS of company law) are responsible for the preparatlon of the financlal statements and for being satisfied that they give a true and fair view, and for such Internal control as the trustees determine 15 necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparlng the flnanclal staternents, the trustees are responsible for assessing the charitable company's ablllty to continue as a going COn￿rn, dlscloslng, as applicable, matters related to going con￿rn and using the going concern basis of accounting unless the trustees elther Intend to liquidate the charitable company or to ￿ase operations, or have no realistic alternative but to do so. Our responslbllltles for the audlt of the flnanclal 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 a Report of the Independent Audltors that Includes our opinlon. Reasonable assuran￿ is a hlgh level of assuran￿, but Is not a guarantee that an audit conducted In accordan￿ 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 Influen￿ the economlc declslons of users taken on the basls of these flnanclal statements. The extent to which our pr￿edureS are capable of detecting irregularities, including fraud is detailed below: In Identlfylng and assesslng rlsks of materlal mlsstatement in respect of irregularities, including fraud, the audit engagement team: Enqulred wlth management about any known or suspected instance of non-compllance wlth laws and regulations, accldents In the workplace and fraud; Reviewed financial statement disdosures and agreed through to supporting documentation to assess ompllance wlth appllcable laws and regulatlons; Audited the risk of override of controls, including through testing journals entries and other adjustments for appropriateness and evaluating the business rationale of significant transactlons outslde the normal course of business; and Reviewed and challenged key accounting policies and estimates tnade by management. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reportlng Councll's website at www.frc.org.uklauditorsresponsibilities. This description forms part of our Report of the Independent Auditors. Page 8

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THAMES CHASE TRUST LIMITED Use of our report This report is made solely to the charitable company's members, as a bodyi in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to sL3te to them in an auditors, report and for no other purpose. To the fullest extent pemiitted 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. Lee Blunden FCCA CTA (Senlor Statutory Auditor) for and on behalf of Clemence Hoar Cummings Chartered Accountants and Statutory Auditor Riverside House 1-5 Como Street Romford Essex RM7 7DN Date: 3 ..11￿bef.... tozs.... Page 9

THAMES CHASE TRUST LIMITED srATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2025 2025 Total funds 2024 Total fur)ds as restated Unrestrlcted funds Restricted funds Notes INCOME AND ENDOWMEhlTS FROM Donations and legacies 54,643 54.643 46,641 Charltable artiv•ties Core activities 112,155 1,170,529 1.282,684 646,586 other trading activities Investment income 117,592 39,431 117,592 39,431 119,973 36,607 Total 323.821 1,170,529 1,494,350 849,807 EXPENDITURE ON Raising funds 32,069 32,069 37,103 Charitable activities Core activitie5 305,621 1,100.409 1,406.030 604,602 Total 337.690 1,100.409 1,438,099 641,705 NET INCOME/IEXPENDITURE) Transfers between funds (13,869) 72,348 70,120 {72,348} 56,251 208,102 17 Net movement in funds 58.479 (2,228) 56.251 208,102 RECONCILIATION OF FUNDS Total funds brought forward As previously reported Prior year adjustment 725.300 149,983 49,099 774,399 149,983 716,280 13 As re$tated 875,283 49,099 924.382 716,280 TOTAL FUNDS CARRIED FORWARD 933.762 46.871 980,633 924,382 The notes fom) part of these financial statements Page 10

THAMES CHASE TRUST LIMITED BALANCE SHEET 31ST MARCH 2025 2025 Total funds 2024 Total funds as restated Unre5trltted funds Restricted funds Notes FIXED ASSETS Tangible assets 14 384.438 384,438 292,572 CURRENT ASSETS Debtors Cash at bank and In hand 15 37,125 1,220,646 37,125 46.871 1,267,517 211,279 782,738 1.257,771 46,871 1.304,642 994,017 CREDITORS Amounts falling due within one year 16 (708,447) (708,447) (362,207) NET CURRENT ASSETS 549,324 46.871 596,195 631,810 TOTAL ASSETS LESS CURRENT LIABIUTIES 933.762 46.871 980.633 924,382 NET ASSETS 933,762 46.871 980,633 924,382 FUNDS Unrestricted funds Restricted funds 17 933,762 46.871 875,283 49,099 TOTAL FUNDS 980,633 924,382 The flnanclal tatements were approved by the Board of Trustees and authorised for issue on and were signed on its behalf by: M J Barkwith - Trustee The notes form part of these financial statements Page 11

THAMES CHASE TRUST LIMITED CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2025 2025 2024 as restated Notes Cash flows from operating activities Cash generated from operations 559,643 (220,467) Net cash provided by/(used In) operating activities 559,643 (220,467) Cash flows from Investlng activities Purchase of tangible fixed assets Interest recelved (114,295) 39,431 (23,736) 36,607 Net cash (used in)/provlded by investing actlvltie5 (74,864) 12,871 Change in cash and cash equivalents in the reportlng period Cash and cash equivalents at the beginning of the reporting perlod 484,779 (207,596) 781738 990,334 Cash and cash equlvalents at the end of the reporting period 1,267,517 782,738 The notes fomi part of these financial statements Page 12

THAMES CHASE TRUST LIMITED NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2025 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2025 2024 as restated Net income for the reporting period (as per the Statement of Flnancial Actlvltles) Adjustments for: Depreciation charges Interest received Decrease/(increase) in debtors Increase/(decrease) In creditors 56.251 208,102 22,429 (39,431) 174,154 346,240 11,702 (36,607) {195,397) (208,267) Net cash provlded byl(used in) operations 559,643 {220,467) ANALYSIS OF CHANGES IN NET FUNDS At 1.4.24 Cash flow At 31.3.25 Net cash Cash at bank and in hand 782,738 484.779 1,267,517 782,738 484.779 1,267,517 Total 782,738 484,779 1,267,517 The notes form part of these financial statements Page 13

THAMES CHASE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 ACCOUNTING POLICIES Basis of preparing the flnanclal statements The flnanclal statements of the charitable company, which is a public benefit entity under FRS 102, have been p￿pared in accordance with the Charities SORP (FRS 102) 'Accountlng and Reporting by Charities.. Statement of Recommended Practice applicable to chBrities preparing their accounts In accordance with the Flnancial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {effertive l January 2019),, Financial Reporting Standard 102 The Financial Reporting standard applicable in the UK and Republic of Ireland. and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. Income All income is recogni5ed in the Statement of Financial Activities once the charty has entltlement to the funds, it is probable that the Income will be received and the amount can be measured reliably. Grants receivable are credited to the Statement of Financial Activitie5 {SoFA) in the year in which they are receivable. Income is deferred only when the Charlty has to fulfll conditions becoming entitled to It or where the donor has specified that the income is to be expended In a future period. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructlve obligation committlng the charity to that expenditure, It Is probable that a transfer of economic benefits will be requlred in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals b35is and has been classified under headings that aggregate all cost related to the category. Where costs cannot be direttly attributed to partlcular headlngs they have been allocated to activities on a basis consistent with the use of resources. Resources expended include attributable VAT which cannot be recovered. Costs are allocated between charltable and other expenditure in accordance with the nature of the cost. Where items involve more than one categoryi they are apportioned between the categories in accordance with the nature of the cost. Tanglble fixed assets Depreclation is provided at the followlng annual rates In order to write off each asset over its estimated useful life. Long leasehold Plant and machinery Fixtures and fittings Motor vehicles Equal Instalments over period of lease 250/0 on cost, IOO/t> on cost and 5010 on cost IOO/o on cost 25% on cost Taxation The charity is exempt from corporation tax on its charitable activities. Fund accountlng Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes wSthln the objects of the charity. RestrlctSons arlse when specified by the donor or when funds are raised for particular restricted purposes. Further explanauon of the nature and purpose of each fund is Included In the notes to the financial statements. Hire purchase and leasing commitments Renta15 paid under operating leases are tharged to the Statement of Finanaal Activities on a straight Ilne basls over the perlod of the lease. Page 14 continued...

THAMES CHASE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2025 ACCOUNTING POLICIES - contlnued Pension costs and other postrretirement benefits The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. DONATIONS AND LEGACIES 2025 2024 as restated Donations 54,643 46,641 OTHER TRADING ACTIvrtlES 2025 2024 as restated Fundraising events Rent income Café Income Sales Room hlre 27,687 25,072 23,495 26,220 15,118 27,526 25,072 26,782 25,192 15,401 117,592 119,973 INVESTMENT INCOME 2025 2024 as restated Deposit account interest 39,431 36,607 INCOME FROM CHARITABLE ACTIVITIES 2025 2024 as restated Activlty Core activlties Core activities Core activities Core activities Grants Cycling project Conservatlon volunteer5 NHLF Land of the Fanns 1,253,495 1,081 27,993 115 621,174 2,827 22,315 270 1,282,684 646,586 Grants received, included in the above, are as follows: 2025 2024 as restated EA - SE Essex Catchment EA - Trust RBI Catchment Project other 15,000 6,125 1.479 15,000 6,125 5,382 Carried forward 22.604 26,507 Page 15 contlnued...

THAMES CHASE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31ST MARCH 2025 INCOME FROM CHARITABLE ACTIVITIES - contlnued 2025 2024 as restated Brought forward ConseNatlon Project Tree5 for climate The Veolia EtFvironmental Trust Thames Water Essex County Council London Borough of Barking & Dagenhatn Brenlwood Borough Council Thurrock Councll Community Forest Grant National Trust 22,604 26,507 45,776 364,908 1,100,409 70,120 7,500 10,000 8,000 8,000 8,000 12,995 5,867 149,983 10,000 8,000 8,000 8,000 1,253,495 621,174 RAISING FUNDS Ralslng donatlons and legacles 2025 2024 a5 restated Car park management Fundraising activities 1,000 20,393 1,000 18,640 21,393 19,640 Other trading actlvltles 2025 2024 as restated Purchases 10,676 17,463 Aggregate amounts 32,069 37,103 Page 16 continued...

THAMES CHASE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2025 CHARITABLE ACTIVITIES COSTS Support costs (see note 8) Direct Costs Totals Core activities 1,114,277 291,753 1,406,030 SUPPORT COSTS Forest Centre costs Management & administration Governance costs Other Totals Core actsvities 174,112 79,966 22,429 15,246 291,753 NET INCOME/(EXPENDITURE) Net Income/(expenditure) is stated after charging/(crediting): 2025 2024 as restated Auditors, remuneratlon Independent examination Depreclatlon - owned assets Hire of plant and machinery 15.246 1,066 11,702 8,191 22,429 10. TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneratlon or other benefits for the year ended 31st March 2025 nor for the year ended 31st March 2024. Trustees, expenses There were no trustees. expenses paid for the year ended 31st Marth 2025 nor for the year ended 31st March 2024. 11. STAFF COSTS 2025 2024 as restated Wages and salaries Social security costs Other pension costs 270,976 16,091 5,471 276,287 17,076 5,198 292,538 298,561 The average monthly number of employees durlng the year was as follows.. 2025 2024 as restated 14 average number of employees 14 No employees received emoluments in ex￿55 of £60,000. Page 17 contlnued..

THAMES CHASE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31ST MARCH 2025 12. DETAILED COMPARATIVES: STATEMENT OF FINANCXAL ACTIVITIES FOR 2023124 Unrestricted Restricted funds funds Total funds as restated INCOME AND ENDOWMENTS FROM Donatlons and legacies 40,641 6,000 46,641 Charitable activities Core artlvlties 646,586 646,586 Other trading activitie5 Investment income 119,973 36.607 119,973 36,607 Total 843,807 6,000 849,807 EXPENDITURE ON Ralsirig funds 37,103 37,103 Charitable adlvitles Core artivities 603,774 828 604,602 Total 640,877 828 641,705 NET INCOME 202,930 5,172 208,102 RECONCILIATION OF FUNDS Total funds brought forward 672,353 43,927 716,280 TOTAL FUNDS CARRIED FORWARD 875,283 49,099 924,382 13. PRIOR YEAR ADJUSTMENT Durlng the year it was discovered that some grant income that had been deferred In prlor years, Should have been recogni5ed in the Statement of Financlal Activlties on the basis that it met the criteria for recognition in accordan￿ with the Charities SORP. The comparatives have therefore been restated, resulting in an Increase to grant Income and unrestricted funds of £149,983. Page 18 continued...

THANES CHASE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2025 14. TANGIBLE FIXED ASSETS Fixtures and fittings Long leasehold Plant and tnachinery Motor vehlcles Totals COST At 1st April 2024 Additions 217,191 19,223 89,839 5,616 24,090 331,120 114.295 89,456 At 31st March 2025 236,414 95.455 89,456 24,090 445,415 DEPRECIATION At 1st April 2024 Charge for year 860 9,438 25.642 6,223 12,046 6.023 38.548 24429 745 At 31st March 2025 10.298 31,865 745 18,069 60,977 NET BOOK VALUE At 31st March 2025 226,116 63.590 88,711 6,021 384,438 At 31st March 2024 216.331 64,197 12,044 292,572 15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 as restated Trade debtors Accrued income Prepayments 2,990 29,871 4,264 28,637 167,732 14,910 37,125 211,279 16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 as restated Trade creditors other credltors Deferred income Accrued expenses 262,881 12,268 5,557 232,062 112,320 65,705 379,861 708,447 362,207 Page 19 continued...

THAMES CHASE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31ST MARCH 2025 17. MOVEMENT IN FUNDS Prior year adjustment Net movement In funds Transfers between funds At 31.3.25 At 1.4.24 Unrestrlcted funds General fund Designated fund NHLF Land of the Fanns Deslgnated fund Fixed assets 349,008 149.983 (3.763) (169,501) 325,727 83.720 (10,106) 149,983 223,597 292,572 91,866 384,438 725.300 149,983 (13,869) 71348 933,762 Restricted funds Hole Farm Legacy The Veolia Environment Trust Trees for Climate Project 6,000 6,000 70,120 (70,120) 43,099 (2,228) 40.871 49,099 70,120 (7I348} 46,871 TOTAL FUNDS 774,399 149,983 56,251 980,633 Net movement in funds. included In the ab)ve are a5 follows: Incoming resources Resources expended Movement In funds Unrestricted funds General fund Designated fund - NHLF Land of the Fanns 323.821 (327,584) {3,763) (10.106) (10,106) 323,821 (337,690) (13,869) Restricted funds The Veolia Environment Trust Trees for Climate Projett 70,120 1.100,409 {1,100,409) 70,120 1,170.529 {1,100,409) 70,120 TOTAL FUNDS 1,494,350 (1,438,099) 56,251 Page 20 continued...

THAMES CHASE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2025 17. MOVEMENT IN FUNDS - continued Comparatives for movement In funds Net movement in funds Transfers between funds At 31.3.24 At 1.4.23 Unrestricted funds General fund Deslgnated fund - NHLF Land of the Fanns Designated fund - Fixed assets 291,773 204,222 2,996 498,991 100,042 280,538 (1,292) (15,030) 12,034 83,720 292,572 672,353 202,930 875,283 Restrlcted funds Hole Farm Legacy Trees for Climate Project 6.000 (828) 6,000 43,099 43,927 43,927 5,172 49,099 TOTAL FUNDS 716,280 208.102 924,382 Comparative net movement in ￿nds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund Designated fund - NHLF Land of the Fanns 843,537 (639,315) 204,222 270 {1,562) (1,292) 843,807 (640,877) 202,930 Restricted funds Hole Farm Legacy Trees for Climate Projett 6,000 6,000 (828) (828) 6,000 (828) 5,172 TOTAL FUNDS 849,807 (641,705) 208,102 The nature of each of the funds can be summarised as follow5: Designated fund - Land of the Fanns Funds held to support both the management and maintenance of completed projects, together with the longer term scheme lega￿ induding rlver improvetnents. Designated fund - Fixed assets Funds held equivalent to the net book value of fixed a55ets. Hole Fami Legacy Restricted donation re￿iVed for developing a tree nursery by Thames Chase Trust at Forestry England's Hole Farm. The Veolla Environment Trust Grant re￿iVed and spent on the construttion of a new children's playground. Trees for Climate Project Capital grant funding retained for future projects under the DEFRA Trees for Climate Programme. Page 21 continued...

THAMES CHASE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2025 17. MOVEMENT XN FUNDS - continued Transfers between funds During the year, £70,120 was transferred from The Veolia Environment Trust Fund to the designated fixed asset fund to cover the capitalised c05t of the playground constructed. a further £21,746 was transferred to the designated fixed asset fund from the general fund to cover the additlons and depreclation of fixed assets. £149,983 was transferred from the general fund to the Land of the Fann5 designated fund. This was in rel8tion to the prior year adjustment where £149,983 of income was recognised in the prevlous period. The amount was designated as the funds will be used for several years to come. 18. RELATED PARTY DISCLOSURES There were no related party transaction5 for the year ended 31st March 2025 nor for the year ended 31st March 2024 19. KEY MANAGEMENT PERSONNEL The key management personnel consisted of a combination of a contracted Consultant Community Forest Director and a permanent Deputy Community Forest Director. The total remuneratlon and benefits paid to key management personnel f￿ the year atnounted to £96,978 (2024.. £9 1,968). Page 22

THAMES CHASE TRUST LIMITED DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2025 2025 2024 as restated XNCOME AND ENDOWMENTS Donations and legacles Donations 54,643 46,641 other trading activities Fundraising events Rent income Cafe Income Sales Room hire 27.687 25,072 23,495 26,220 15,118 27,526 25,072 26,782 25,192 15,401 117,592 119,973 Investment income Deposit account interest 39,431 36,607 Charitable activities Grants Cycllng project Conservation volunteers NHLF Land of the Fanns 1,253,495 1,081 27,993 115 621,174 2,827 22,315 270 1,282,684 646,586 Total incoming resources 1,494,350 849,807 EXPENDITURE Raislng donations and legacies Car park management Fundraising actlvities 1,000 20,393 1,000 18,640 21,393 19,640 Other trading activltles Purchases 10,676 17,463 Charitable activities Wages Soclal security Pensions Direct project costs 202,144 11,858 3,968 896,307 237,105 14,947 4,362 122,938 1.114,277 379,352 Support costs Management & administration Wages Soclal security Pension5 Carried forward 68,832 4,233 1.503 74,568 39,182 2,129 836 42,147 Thls page does not fomi part of the statutory financial Statements Page 23

THAMES CHASE TRUST LIMITED DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED MARCH 2025 2025 2024 as restated Management & administration Brought forward Hlre of plant and machinery Consultancy Post & stationary Travel & subsistence Repairs and maintenance Computer associated costs Sundries Professional fees Advertislng 74.568 42,147 8,191 28,350 3,198 6,212 20,070 2,081 2,784 2,815 936 52,515 2,519 5,093 19,387 12,789 2,729 3,259 1,253 174,112 116,784 Forest Centre costs Rates and water Insurance Light and heat Telephone Cleaning Sundries Security Repairs and maintenance 1,068 9,880 25,485 4,370 20,025 1,822 3,107 14.209 1,280 9,186 36,471 4,437 25,661 2,422 2,923 13,318 79,966 95,698 Other Long leasehold Plant and machinery Fixtures and flttlngs Motor vehicles 9,438 6,223 745 6.023 860 4,819 6,023 22,429 11,702 Governance costs Auditors, remuneration Auditors, remuneration for non audlt work 15,246 1,066 15,246 1,066 Total resources expended 1,438,099 641,705 Net Income 56,251 208,102 This page does not form part of the statutory finanaal statements Page 24