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