Registered number: 04103670 Charity number: 1117051 Henderson Trust HENDERSON TRUST (A Company Limited by Guarantee) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
HENDERSON TRUST (A Company Limited by Guarantee} CONTENTS Page Reference and Administrative Details of the Trust, its Trustees and Advisers Trustees. Report Independent Auditor's Report on the Flnan¢lal Statements 10-13 Statement of Financial Activities 14 Balance Sheet 15-16 Statement of Cash Flows 17 Notes to the Financial Statements 18-36
HENDERSON TRUST IA Company Limited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE TRUST, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 Trustees C Brown (resigned 2 June 20251 S Earl C E Eyers N V Harmer P Hutson L E McCartney-Gray J Vilkovilch M W Wheeler lappoinled 12 June 2025) L J Wilkinson, Chair P F Gosling lappoinled 21 August 2025} Company registered number 04103670 Charity registered number 1117051 Registered office The Henderson Business Centre 51 Ivy Road Norwich Norfolk NR5 8BF Company secretary K Ward {appoinled 2 July 20241 N Craig (resigned 2 July 2024} Chlef Executlve Offlcer M Packer (appointed 1 August 20241 N Craig (resigned 31 July 20241 Independent audltor MA Partners Audit LLP Chartered Accountants & Statutory Auditors 7 The Close Norwich Norfolk NR14DJ Sollcltors Leathes Prior 74 The Close Norwich NR14DR Page 1
HENDERSON TRUST (A Company Llmited by Guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2026 The Trvslees present their annual report together with the audited financial statements of the Trust for the year 1 April 2024 to 31 March 2025. The Annual Report serves the purposes of both a Trustees, report and a direclors, report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company Comply with the Current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice ISORPI applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 (effective 1 January 2019). Since the Trust qualifies as small under section 382 of the Companies Act 2006. the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors. Report) Regulations 2013 has been omitted. Objectives and activltles a. Poli¢les and objectlves Henderson Trust's governing document is its Memorandum and Articles of Association which stales that its objectives are .to promote the public benefit of urban regen8ralion in areas of social and economic deprivation by all, or any, of the following means.. To advance education and provide or assist in providing training To relieve unemployment To provide financial and technical assistance, business advice, training and employment opportunities To provide facilities, services or assistance to people who are aged, have disabilitie5, Sick or in need To promote good health To provide housing {nol extending to relieving local authorities or other bodies of their statutory duly} To provide or improve community, social, recreational and leisure facilities To promote the conservation, protection and improvement of the physical and natural environment To improve infrastructure and transportation facilities To improve community safety through prevention andlor reduction of crime, anti-social behaviour, protection of property and support of victims of crime, and promole good community relations., and Such other means subject to the prior written consent of the Charity Commissioners. Henderson Trust's main objectives for the year were to.. Manage various assets lo generate income Promote and develop the community park Contribute to community engagement and development Fund andlor support project work in the community Develop and improve the operations of Cadge Road Community Centre b. Strategies for achieving objectives strategies chosen for achieving the objectives were to.. Maximise the income from the Henderson Business Centre Fund lor continue lo fund) a range of projects and activities Fund projects through external contracts and others through directly employed staff Work with partners to undertake community development Page 2
HENDERSON TRUST IA Company Limited by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Objectives and activities (continued) c. Activities undertaken to achieve objectives Existing directly managed projects were.. The provision of activities and support to vulnerable young people in Ihe community The provision of activities and support to older people in the community The provision of accommodation for local bodies The provision of activities and support to local families The management of a local community centre d. Public beneflt The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charitable company's aims and objectives and in planning future activities and setting the grant making policy for the year. Achievements and performance Revlew of actlvltles Total incoming resources for the period were £650,430 {2024 - £662,031). Total resources expended were £651.82512024- £658,61n. Cost of Achieving Objectives Community activity costs lotaling £185,79412024 - £187, 74n relate lo community grants awarded and projects undertaken directly by the Trust. Impact of Meeting Objectives {including types of outcomes achieved> Improved social cohesion Reduced levels of crime and criminality Increased participation in education, employment and training The Trust uses a range of performance measures to monitor and manage the business effectively. There are both financial and non-financial, and the most significant of these are the key performance indicators IKPlsl. b. Key performance indicators The key financial performance indicators are grants receivable and project costs incurred. These KPIS indicate the volume of work the Trust has undertaken as well as the efficiency with which the work has delivered. KPIS for the year, with comparatives. are as follows.. 2025 2024 Direct costs and grants less voluntary income Investment income less support and governance costs Net movement in funds {493,646} 1519,4571 489,807 522,871 11.395) 1491,0071 Page 3
HENDERSON TRUST (A Company Limited by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Financial review Going concern After making appropriate enquiries. the Trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for Ihe foreseeable future. For this reason, Ihey continue lo adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. b. Reserves policy The total funds of the charity were £5,133,965 al 31 March 202512024 - £5, 135,3601. At the balance sheet date the charity had free reserves of £18,24012024 - no free rese$). The Trustees aim lo hold £100,000 working capital in the bank account. Al the year end dale, the balance was £93,931 (2024 - £164, 941). In addition the Trust holds a portfolio of saleable property assets. There are no plans lo sell these assets but they could be realised if required to meet costs or lo fund desirable project work. Structure, governance and management Constitution Henderson Trust is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association. The company is consliluted under a Memorandum ofAssociation and is a registered charity number 1117051. The Henderson Trust is a registered charity and has a designated 'area of benefit,. The area covers the North and West Earlham, Larkman and Marlpit areas of Notwich and comprises approximately 4,000 households and approximately 12,000 residents. Henderson Trust works in participation with residents and with providers of services lo Ihe public to reduce levels of disadvantage in the area, specifically those associated with: Crime and community safely Education Health Unemployment The physical environrnent Henderson Trust - Mission The purpose of Henderson Trust is to.. Enable the community led, long lasting regeneration of the North and Wesl Earlham, Larkham and Marlpil neighbourhoods of Notwich. Page 4
HENDERSON TRUST {A Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Structure, governance and management {continuedl This will be done by.. Helping lo build partnerships between agencies and the community to benefit the lives of local residents Providing leadership, focus, support, and encouragement of these partnerships, making sure that members of the community feel able lo improve their own lives Developing the skills and knowledge of local people, and creating and supporting buildings and services which will contribute lo the long term success of the whole community Making sure that the community focused services are realistic, valuable and achievable as sel down in the long term plans of Henderson Trust b. Methods of appolntment or election of Trustees The management of the Trust is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association. c. Organisational structure and decision.maklng pollcies The Memorandum and Articles of Association allow for up to len Trustees who are the guarantors of the charitable company. A minimum of six Trustees are lo be local residents. Trustees, and officers, liability insurance is in place. Henderson Trust is governed by a Board of Trustees. The strategic direction and operational activities of the Trust are managed by a Chief Executive Officer who reports directly to Trustees at Board meetings. During the reporting period the following people have acted as Trustees: C Brown (resigned 2 June 20251 S Earl C E Eyers N V Harmer P Hutson L E McCartney-Gray J Vilkovilch M W Wheeler lappoinled 12 June 2025) L J Wilkinson (Chairl Page 5
HENDERSON TRUST (A Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Structure, governance and management l¢ontlnued) Henderson Trust Board What it does.. Defines and ensures compliance wilh the values and objectives of the Trust Establishes plans to achieve these objectives Monitors the Trust's performance in relation to its plans, budget controls and decisions Approves each year's budget and accounts before publicalion Makes decisions of funding Satisfies itself that the Trust's affairs are conducted in accordance with generally accepted standards of performance and propriety Decides on policies and procedures for the Trust Establishes and oversees a framework of delegation of its powers to committees and employees with proper systems of control Appoints senior management Takes appropriate legal and professional advice Other Committees Henderson Trust's Boaré may delegate various powers lo subcommittees. These committees are either empowered lo make decisions for and on behalf of the Trust or else are empowered to make recommendations lo the Board for decision. For all the Trust's committees. Members will be approved by Ihe Board The Chair will be elected by the Board from its members A quorum of four will be established Henderson Trust staff may attend but will not be allowed lo be members Members will be allowed only one vote There will be no further delegation of responsibilities Matthew Packer is the Chief Executive Officer ICEOI and Head of Charity. The CEO is authorised to.. Undertake and oversee the day-lo-day management of the charitable company Maintain a positive working relationship with all partners To support and guide the Board on all strategic and operational matters To ensure that financial standing orders are in place and are followed To manage staff and relationships with partners d. Policies adopted for the induction and trainlng of Trustees New Trustees are invited to attend briefing sessions to familiarise themselves with the Trust and ils operational context. A handbook is given lo each Trustee which contains key documents and information. Trustees are also supported to attend relevant training events lo facilitate a greater understanding of their role. Page 6
HENDERSON TRUST (A Company Limited by Guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Structure, governance and management {¢ontinuedl e. Pay policy for key management personnel The Truslees consider the Chief Executive Officer and the Business Support Manager as comprising the key management personnel of the charity in charge of directing and controlling the charity and the running and operating of the charity on a daily basis. The pay of the Chief Executive Officer is based upon the consideration of numerous factors. These include benchmarking within the charity sector and across occupational classifications locally. The pay of all other staff is based upon nationally consulted and agreed National Joint Council for Local Government Services pay rates. Salaries are sel bearing in mind the need lo altracl and relain staff and maintain levels of motivation. Salaries also reflect the unusLtal nature of the Trust's operations in that il is a charity which has some operations in a highly competitive and cost-sensitive sector. All salaries are reviewed at least annually and at this lime the following factors are considered.. National levels of pay award or pay restraint The relative performance of the employee and the organisation The Trust's ability to sustain payroll costs f. Financlal rlsk management The Trustees have assessed the major risks lo which the Trust is exposed, in particular those related to the operations and finances of the Trust, and are satisfied that systems and procedures are in place to mitigate exposure lo the major risks. The most significant risks to the Trust have been identified as. Failure of plant and equipment Low demand for business accommodation Loss of existing tenancies IT system failures Destruction of property The viability of the charity For all these risks and all others recognised by the Trust there are preventative measures in place and mitigating strategies. Where appropriate this involves seeking professional. external advice and pulling in place insurance arrangements. The system of internal control includes.. A six-monlhly review al Board meetings of the Trust's risk register Developments within existing risks, or new risks, are brought to Tru51ees' attention at the earliest opportunity. Written updates of such developments are provided to Trustees immediately via email {if necessary) and within the agenda of the next available Trustee meeting. An annual budget and six-monthly review of expenditure against budget An annual review of all policies and procedures Clearly defined limits of authority Page 7
HENDERSON TRUST IA Company Limited by Guarantee} TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Plans for future periods Priorities for 2025126 Experience has shown th31 the resources of the Charity are insufficient lo make a positive contribution to all of the Trust's objectives in any one year. It is therefore necessary to identify a smaller number of operational themes which reflect the Charity's ability to make a difference, and the resources and skills at the Charity's disposal. The operational Ihemes for the period April 2025 to March 2026 will be.. Skills development Henderson Business Centre The Henderson Community Park Social inclusion The Trust adopted a sustainability policy in October 2022 setting out broad objectives and responsibilities regarding the use of energy and the management of waste. Subject to the availability of funding and other resources the Trust has adopted an ongoing programme of movement towards the use of more energy-efficienl equipment, fixtures and fittings and methods of working and has encouraged all tenants of the Henderson Business Centre to do the same. To this end a rolling programme of replacing lights with LED alternatives has been started. In the coming year the installation of a solar array on the Business Centre will be explored and a budget has been sel aside for the inslallalion. The CEO will undertake a process to combine two roles within the Community services delivery members of staff in order to increase efficiencies and put the Charity in a stronger financial posilion which will contribute lo ils long-lerm sustainability, In early 2026. Trustees will be completing a review of the future strategic direction of Henderson Trust. This process will involve examining the Trust's current provision of services and formulating strategic priorities for futur8 years based upon the Trust's objectives and available resources. Additionally, the Trust will undertake a review of ils organisalional governance arrangements to ensure they meet all regulatory requirements and current good practice. Page 8
HENDERSON TRUST {A Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Statement of Trustees. responsibilities The Trustees (who are also the directors of the Trust for the purposes of company law) are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice}. Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees musl not approve the financial slalements unless they are satisfied that they give a true and fair view of the slate of affairs of the Trust and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Truslees are required to.. select suitable accounting poSicies and then apply them consistently., observe the methods and principles of the Charities SORP IFRS 102)., make judgments and accounting estimates that are reasonable and prudent., state whether applicable UK Accounting Standards IFRS 1021 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 il is inappropriate to presume that the Trust will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Trust's transactions and disclose with reasonable accuracy al any lime the financial position of the Trust and enable them to ensure that the financial slalements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Dlsclosure of Information to auditor Each of the persons who are Trustees at the lime when this Trustees, Report is approved has confirmed that.. so far as that Trustee is aware, there is no relevant audit inform81ion of which the charity's auditor is unaware, and that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and lo establish that the charity's auditor is aware of that information. Auditor The auditor, MA Partners Audit LLP, has indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditor al a meeting of the Trustees. Approved by order of the members of the Board of Trustees and signed on their behalf by.. L J Wilkinson (Chair of Trustees) Date.. 23 October 2025 Page 9
HENDERSON TRUST IA Company Limited by Guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF HENDERSON TRUST Opinion We have audiled the financial statements of Henderson Trust Ilhe 'Trust') for the year ended 31 March 2025 which comprise the Slalemenl of Financial Aclivilies. the Balance Sheet, the Statement of Cash Flows and the related notes. including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources. including ils income and expenditure for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in a¢¢ordan¢e with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with International Standards on Auditing (UK) IISAS IUKI} and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial slalemenls section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the United Kingdom. including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other elhical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Concluslons relating to going concern In auditing the financial slatemenls, we have concluded that the Trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have not identified any material uncertainties relating lo events or conditions that. individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least e1ve months from when the financial stalements are aulhorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going Concern are described in the relevant Sections of this report. Page 10
HENDERSON TRUST (A Company Limited by Guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF HENDERSON TRUST ICONTINUEDI Other information The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except lo the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears lo be materially misstated. If we idenlify such material inconsistencies or apparent material misstatements, we are required lo 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 lo report in this regard. Oplnlon on other matters prescribed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Trustees, Report for the financial year for which Ihe financial statements are prepared is consistent with the financial statements. the Trustees, Report has been prepared in accordance with applicable legal requirements. Matters on whlch we are requlred to report by exceptlon In the light of our knowledge and understanding of the charitable company and ils environment obtained in the course of the audit, we have not identified material misstatements in the Trustees, Report. We have nothing lo report in respect of the following matters in relation to which Companies Act 2006 requires us to report lo you if, in our opinion.. adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us., or the financial statements are not in agreement with the accounting records and returns., or certain disclosures of Trustees, remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit.. or the Trustees were not entitled to prepare the financial slatemenls in accordance with the small companies regime and lake advantage of the small companies, exemptions in preparing the Trustees, Report and from the requirement to prepare a Strategic Report. Page11
HENDERSON TRUST (A Company Limited by Guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF HENDERSON TRUST {CONTINUEDI Responslbilities of Trustees As explained more fully in the Trustees, Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial slalemenls that are free from material misstatement, whether due lo fraud or error, In preparing the financial stalernents. the Trustees are responsible for assessing the charitable company's ability lo continue as a going conGern, disclosing, as applicable, matters related lo going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitab18 company or to Cease operations, or have no realistic alternative bul lo do so. Auditor's responsibilities 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 an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS IUK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of Ihese financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities. outlined above, lo detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of delecling irregularities, including fraud is detailed below. Explanation as to what extent the audlt was Consldered capable of detecting irregularities, Including fraud The objectives of our audit in respect of fraud. are,. to identify and assess the risks of material misslalement of the financial statements due lo fraud,. lo obtain sufficient appropriate audit evidence regarding the assessed risks of material misslalemenl due to fraud, through designing and implementing appropriate responses to those assessed risks,. and lo respond appropriately lo instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charity. Our approach was as follows: We obtained an understanding of the legal and regulatory requirements applicable lo the charity and considered that the most significanl are the Charities Act 2011 and UK financial reporting standards as issued by the Financial Reporting Council. We obtained an understanding of how the charity complies with these requirements by discussions with those charged with governance. We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with those charged with governance. We inquired of those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations. Page 12
HENDERSON TRUST IA Company Limited by Guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF HENDERSON TRUST {CONTINUED) Based on this understanding, we designed specific appropriate audit procedures to identify instances of non- compliance with laws and regulations. This included making enquiries of those charged with governance and obtaining additional corroborative evidence as required. Because of the inherent limitations of an audit, there is a risk that we will not delect all irregularities, including those leading lo a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery. collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial stalements is located on the Financial Reporting Council's website at.. www.frc.or . uklaudilorsres onsibilities. This description forms part of our Auditor's Report. Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might stale to the charitable company's members those matters we are required to slate lo them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and ils members, as a body, for our audit work, for this report, or for the opinions we have formed. All¢e Lynch Bsc FCA DChA (Senior Statutory Auditor) for and on behalf of MA Partners Audit LLP Chartered Accountants & Statutory Auditors 7 The Close NoNich Norfolk NR14DJ Date.. Page 13
HENDERSON TRUST (A Company Limited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND EXPENDITURE ACCOUNT} FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted funds 2025 Restricted funds 2025 Total funds 2025 Tolal fuiids 2024 Note Income from: Donations and legacies Investments Other income 14,562 565,996 67,428 81,990 565,996 83,219 578.812 Total income 583,002 67,428 650,430 662. 031 Expenditure on: Charitable activities 569,077 82,748 651,825 658,617 Total expendlture 569,077 82,748 651,825 658,677 Net Incomel{expenditurel before net losses on investments Net losses on investments 13,925 (15,3201 11,3951 3,414 (182. 42 7) Net movement in funds before other recognised gainslllossesl 13,925 115,3201 11,3951 (179,007) Other recognised gainslllossesl: Losses on revaluation of fixed assets (312, OOOJ Net movement in funds 13,925 {15,320) (1,395) (491.007) ReconcS1iatlon of funds., Total funds brought forward Net movement in funds 4,810,859 13,925 324,501 115,3201 5,135,360 11,3951 5, 626, 367 (491,007) Total funds carrled forward 4,824,784 309,181 5,133,965 5. 735,360 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 18 to 36 form part of these financial slalements. Page 14
HENDERSON TRUST IA Company Limited by Guarantee) REGISTERED NUMBER.. 04103670 BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Note Fixed assets Tangible assets Investment property 13 14 2,843,985 2,225,384 2, 852, 807 2, 225, 384 5,069,369 5.078, 191 Current assets Debtors 116,598 93,931 34,596 164,941 Cash at bank and in hand 210,S29 199,537 Current liabilities Creditors.. amounts falling due within one year 16 {145,933) (142.368) Net current assets 64,596 57, 169 Total net assets 5,133,965 5, 135,360 Charlty funds Restricted funds Unrestricted funds 309,181 4,824,784 324,507 4,810,859 Total funds 5,133,965 5, 135,360 Page15
HENDERSON TRUST {A Company Limited by Guarantee) REGISTERED NUMBER: 04103670 BALANCE SHEET {CONTINUED} AS AT 31 MARCH 2025 The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable lo entities subject to the small companies regime. The financial statements were approved and aulhorised for issue by the Trustees and signed on their behalf by.. L J Wilkinson (Chair of Trustees) Date.. 23 October 2025 The notes on pages 1810 36 form part of these financial statements. Page 16
HENDERSON TRUST IA Company Limited by Guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Note Cash flows from operating activities Net cash used in operating activities 21 183,5351 16,718 Cash flows from Investing actlvlties Purchase of tangible fixed assets 17,4751 (6, 558) Net cash used in Investing activities {7,4751 {6,5581 Change In cash and cash equivalents In the year Cash and cash equivalents at the beginning of the year 171,0101 164,941 10,160 154, 781 Cash and cash equivalents at the end of the year 22 93,931 164,941 The notes on pages 18 to 36 form part of these financial statements Page 17
HENDERSON TRUST IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 General information Hender50n Trust is a company limited by guarantee and registered in England and Wales. The Members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limiled lo £10 per Member of the company. A¢¢ountlng policies 2.1 Basis of preparatlon of financlal statements The financial statements have been prepared in accordance with the Charities SORP IFRS 102) Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) leffeclive 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) and the Companies Act 2006. Henderson Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise staled in the relevant accounting policy. 2.2 Going Concern The Trustees have a reasonable expectation that Ihe Trust has adequate resources lo continue in operational existence for the foreseeable future. For this reason, the Trustees continue lo adopt the going concern basis in preparing the financial slatemenls. 2.3 Income All income is recognised once the Trust has entitlement lo the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Grants (including government grants) are included in the Slalemenl of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet, Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income, Where entitlement occurs before income is received, the income is accrued. 2.4 Expenditure Expenditure is recognised once Ihere is a legal or constructive obligation to transfer economic benefit to a third party, il is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Trust's objectives, as well as any associaled support costs. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject lo conditions which have not been mel al the year end are noted as a commitment. but not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT. Page18
HENDERSON TRUST IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Icontinuedl 2.S Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Trust,. this is normally upon nolificalion of the interest paid or payable by the institution with whom the funds are deposited. 2.6 Tangible fixed assets and depreciation Al each reporting date the Trustees assess whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined lo be the higher of its fair value less costs lo sell and ils value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. Tangible fixed assets are carried al cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets. less their estimated residual value, over their expected useful lives on the following bases.. Freehold property Plant and machinery Motor vehicles Fixtures and fittings Play equipment Not depreciated 100/4 33 % straight line 20 /0 slraighl line 4 10 - 1 OQ/o Straight line 1 00/0 slraighl line No depreciation has been charged on the freehold property as the Trustees consider the depreciation charge is not material because the estimated residual value of the asset is not materially different from the carrying value of the asset. 2.7 Investment property Investment property, which is property held to earn rentals and l or for capital appreciation, is measured initially al its cost, including transaction costs. Subsequent lo initial recognition, investment property is measured at fair value. Gains or losses arising from changes in the fair value of investment property are included in the Statement of Financial Aclivilies. 2.8 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued al the amount prepaid net of any Irade discounts due. 2.9 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the dale of acquisition or opening of the deposit or similar account. Page 19
HENDERSON TRUST IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Icontinuedl 2.10 Llabilities and provislons Liabilities are recognised when there is an obligation at the Balance Sheet dale as a result of a past event. il is probable that a transfer of economic benefit will be required in seltlemenl, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Trust anlicipale5 It will pay to settle the debt or Ihe amount it has received as advanced payments for the goods or services il must provide. 2.11 Financial instruments The Trust only has financial assets and financial liabilities of a kind that qualify as basic financial inslrumenls. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. 2.12 Pensions The Trust operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Trust to the fund in respecl of the year. 2.13 Fund accounting General funds are unreslricled funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Trust and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Trust for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes lo the financial slatemenls. Page 20
HENDERSON TRUST IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Critical accounting estimates and areas of judgment Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed lo be reasonable under the circumstances. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment lo the carrying amounts of assets and liabilities within the next financial year are discussed below. Critical accounting estimates and assumptions: Impalrments Impairments are recognised where the Trustees believe that there is an indication that the carrying amount of an asset exceeds its recoverable amount. Investment property The Trustees use valuation techniques involving estimation lo determine the fair value of the Trust's investment property. Eslimales of fair value between independent external professional valuations are based on a combination of current market conditions, changes in tenure arrangements and guidance from external sources. The Trustees base their assumptions on observable data as far as possible but this may not always be available. Estimated fair value may vary from the actual price that would be achieved in an arm's length commercial sale transaction at the reporting date. The most significant area of uncertainly that may affect the carrying value of assets and liabilities held by the Trust are markel-driven changes lo property values. Page 21
HENDERSON TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Income from donatlons and legacies Unrestri¢ted Restricted funds funds 2025 2025 Total funds 2025 Total fu17ds 2024 Donations 12.562 2,000 12,562 69,428 9, 605 73,614 Grants 67,428 14,562 67.428 81,990 83,219 Tolal 2024 71,605 71,614 83,219 Page 22
HENDERSON TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Investment income Unrestricted funds 2025 Total funds 2025 Total fui?ds 2024 Rental income Bank interest Fire station rental income 350,888 1,343 213,765 350,888 1,343 213,765 363, 781 1,266 213, 765 565,996 565,996 578,812 Total 2024 578.812 578,812 Other Incomlng resources Unrestricted funds 2025 Total funds 2025 Tolal fiii?ds 2024 Other income 2,444 2,444 Page 23
HENDERSON TRUST (A Company Limited by Guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Analysis of grants Grants are made to community organisations, supporting projects that enhance the local community. Details of grants made during the year are set oul below.. 2025 2024 Foodbank Household Support NR5 Community Hub West Earlham Junior School Norwich Choi Kwang Do Inlouniversily Norwich Society Alive 13,431 12,210 7,500 500 500 500 500 500 15,931 13,710 Analysls of expenditure on charitable activities Summary by fund type Unrestricted Restricted funds funds 2025 2025 Total 2025 Total 2024 Regenerat'n & Facility Manag'enl Henderson Business Centre Community Delivery Cadge Road Community Centre 350,025 104,030 87.115 27,907 350,025 104,030 169,863 27,907 352, 989 105. 330 174.037 26.267 82,748 569,077 82,748 651,825 658,617 Total 2024 577,894 80. 723 658,617 Page 24
HENDERSON TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Analysis of expenditure by activities Activities Grant undertaken funding of directly activities 2025 2025 Support costs 2026 Total funds 2025 Tolal fiii?ds 2024 Regenerat'n & Facility Manag'enl Cadge Road Community Centre Community Oelivery Henderson Business Centre 260,734 15,931 73,360 350,025 352, 989 25,078 169,863 104,030 2.829 27,907 169,863 104,030 26.267 774.037 705, 330 559,705 15,931 76,189 651,825 658,617 Total 2024 588, 966 13,710 55.941 658,617 Analysis of dlre¢t costs Regenerat'n Cadge Road Henderson & Facility Community Community Business Manag'ent Centre Delivery Centre 2025 2025 2025 2025 Total funds 2025 Total fu17ds 2024 Staff costs Depreciation Operating costs 25,078 169,863 104,030 298,971 16,297 244,437 303, 797 22,393 262, 776 16,297 244,437 260,734 25.078 169.863 104,030 559,705 588. 966 Total 2024 285. 169 24,430 174,037 705.330 588.966 Page 25
HENDERSON TRUST (A Company Limited by Guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Analysis of expenditure by activities Icontlnuedl Analysis of support costs Total funds 2025 Total fuiids 2024 Staff costs Operating costs Governance costs 34,526 30,908 10,755 23.257 20, 802 11,882 76,189 55,941 10. Auditor's remuneration The auditor's remuneration amounts to an auditor fee of £6,400 (2024 - £4,555), and other services of £1,60012024- £1, 1511. 11. Staff costs 2025 2024 Wages and salaries Social security costs Contribution lo defined contribution pension schemes 292,800 23,618 17,079 287,549 22,215 17,290 333,497 327,054 The average number of persons employed by the Trust during the year was as follows.. 2025 No. 2024 Management Administration Project based 10 Page 26
HENDERSON TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 11. Staff costs (continuedl No employee received remuneration amounting lo more than £60,000 in either year. The lolal remuneration for key management personnel, including employer pension contributions and employer national insuranc8 contributions, for the year tolalled £99,40012024 £97, 2731. 12. Trustees, remuneratlon and expenses During the year, no Trustees received any remuneration or olher benefits f2024 - £NILJ. During the year ended 31 March 2025, no Trustee expenses have been incurred (2024 - £NIL). Page 27
HENDERSON TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 13. Tangible fixed assets Freehold Motor property Equipment vehicles Fixtures and fittings Play equipment Total Cost or valuation At 1 April 2024 Additions 8,242,849 63.535 4,994 8,540 70,927 2,481 145,288 8.531,139 7,475 Al 31 March 2025 8,242,849 68,529 8,540 73,408 145,288 8,538,614 Depreciatlon Al 1 April 2024 Charge for the year 5,437,849 55,158 6,308 6,802 1,708 40,678 6,352 137,845 5,678,332 1,929 16,297 At 31 March 2025 5,437,849 61,466 8,510 47,030 139,774 S,694,629 Net book value At 31 March 2025 2,805,000 7,063 30 26,378 5,514 2,843,985 Al 31 March 2024 2. 805. 000 8,377 1,738 30, 249 7.443 2.852. 807 The freehold property was valued on 1 September 2023 by an external valuer, S M L Kingston Bsc IHons} MRICS of Roche Chartered Surveyors. The valuations were in accordance with the requirements and guidelines sel out in the Royal Institution of Chartered Surveyors IRICSI Valuation Global Standards 2020 (which incorporate the International Valualion Standards 20171 and the UK national supplement. The Trustees do not believe any further material movement in valuation has arisen since that date. Page 28
HENDERSON TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 14. Investment property Freehold investment property Valuation Al 1 April 2024 2,225,384 Al 31 March 2025 2,225,384 The 2024 valuations were made by the Trustees, based on an external valuation by S M L Kingston MRICS of Roche Chartered Surveyors on 1 September 2023, on an open market value for existing use basis. 15. Debtors 2025 2024 Due within one year Trade debtors Other debtors Prepayments and accrued income 97,857 160 18,581 21,850 4,644 8, 102 116,598 34,596 16. Creditors: Amounts falling due within one year 2025 2024 Trade creditors Other taxation and social security Other creditors Accruals and deferred income 14,246 29,981 40,040 61,666 7, 600 27,029 44.532 63,207 145.933 142,368 Page 29
HENDERSON TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 17. Deferred income 2025 2024 Deferred income at 1 April 2024 Resources deferred during the year Amounts released from previous periods 48,844 48,844 148,8441 48,844 48,844 (48,844) Deferred income at 31 March 2025 48,844 48,844 Page 30
HENDERSON TRUST {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 18. Statement of funds Statement of funds - current year Balance at 1 April 2024 Balance at 31 Expenditure March 2026 Income Unrestricted funds General Funds 4,810,859 583.002 {569.0771 4,824,784 Restricted funds Capital fund NR5 Hub Worker Youth Drop In Covid 19 Response Games Area Outside The Box Opt In Get Set 262,825 4,538 14,364 6,270 5,396 4,665 5,318 14,611 1,241 985 262,825 4,538 10,966 6,270 5,396 4,665 6,530 1,063 14,461 } 11,671 12,571 {10,4591 {27,1821 Kickstart This Girl Can Household Support Fund Community Development Sil Fil Girls Group 1,241 985 3,050 550 3,600 37,960 {1,1001 {37,9601 1,111 2,627 563 14751 2,715 324,501 67,428 (82,748) 309,181 Total of funds 5,135,360 650,430 1651,825} 5,133.96S Page 31
HENDERSON TRUST {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 18. Statement of funds {continuedl The restricted capital fund represents restricted fixed asset funding. Fixed asset funding has been treated as restricted as should any granl funded asset be disposed of, part or all of the proceeds may be subject to clawback by the funders EEDA. NR5 Hub Worker - Funding to employ a worker on a Fixed term contract lo deliver community activities to families and young people through the NR5 Communily Hub and to work with Henderson Trust staff lo develop the project with the aim of becoming more self sustaining. Youth Drop In funding was received lo support the youth drop in, an informal youth club which provides a safe place for young people with fun activities and a meal. Covld 19 Response This fund relates lo funding received lo enable the Trust lo run and support Covid related respones, primarily the distribution of meals lo members of the community. Games Area - This fund relates to a grant received to fund new play equipment. Outslde The Box - ID project - funding a sex and relationships course with an emphasis on body positivity and healthy relationships. Opt In - IT and social group for the over 55s. Get Set Activities for 10-16 year olds during the school holidays. Kickstart - Government programme lo help young people into work. This Girl Can - Free yoga sessions for women, Household Support Fund - Money to enable Henderson Trust to provide food vouchers for local families in need & lo provide Energy lop ups for the over 555. Community Development the funds received relate to grants specifically received for the Sorted. Connect and Not About the Bike projects the charity is running. Sit Fit - the funds received relate to grants received specifically for running a chair fitness for over 50s service. Girls Group - This fund relates to funding received for a formal youth club with targeted admission, for girls who are more vulnerable and would benefit from the social aspects of the group. Craft Connections - This fund is for running a weekly wellbeing group for women. This is funded by East of England Co-op. Page 32
HENDERSON TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 18. Statement of funds {continuedl Statement of funds - prlor year Balai?cg al 31 March 2024 Bala17ce al l April 2023 Gail? (Losses) liicoine Expenditure Unrestricted funds General Funds 5.292. 757 590,477 (577.894) (494.427) 4.810.859 Restricted funds Capital fund NR5 Hub Worker Youth Drop In Covid 19 Response Games Area Outside The Box Opt In Get Sel Craft Conneclions Kickslart This Girl Can Household Support Fund Community Development Sit Fit Girls Group 262, 825 24,867 15,372 6,270 5.396 4,665 4,649 4, 035 2, 905 1,247 985 400 262, 825 4,538 14.364 6.270 5,396 4, 665 5,318 14,611 (20.329) (3,925) 2,917 4,500 15,874 (3,831) (5, 298) (2, 905) 1,241 985 550 1,600 41,329 2,477 2,977 (1,450) (41,329) (1,366) (290) 1,711 2,627 333.610 71,674 (80, 723) 324,501 Total of funds 5,626,367 662, 031 (658,617) (494,427) 5. 135.360 Page 33
HENDERSON TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 19. Summary of funds Summary of funds - current year Balance at 1 April 2024 Balance at 31 Expenditure March 2025 Income General funds Restricted funds 4,810,859 324,501 583,002 67,428 1569,0771 4,824,784 182,7481 309,181 5,135.360 650,430 1651,8251 5,133,965 Summary of funds - prlor year Bala17ce at 31 March 2024 Balance al 1 Apiil 2023 Gains/ (Losses) Incoino Expe17diÈuiE General funds Reslricled funds 5, 292, 757 333.610 590,417 71,614 (577, 894) (80, 723) {494.421) 4.810.859 324,501 5.626,367 662, 031 (658, 617) (494.421) 5. 135,360 20. Analysls of net assets between funds Analysls of net assets between funds - current year Unrestricted Restricted funds funds 2025 2026 Total funds 2025 Tangible fixed assets Investmenl property Current assets Creditors due within one year 2,581,160 2,225,384 164,173 1145,9331 262,825 2,843,985 2,225,384 210,529 114S,9331 46,356 Total 4,824,784 309,181 5.133.965 Page 34
HENDERSON TRUST {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 20. Analysis of net assets between funds (continued) Analysis of net assets between funds - prior year U17reslriGted Restricled fiii?ds fui?ds 2024 2024 Total fiii?ds 2024 Tangible fixed assets Investment property Current assets Creditors due within one year 2. 589. 982 2, 225.384 t37.867 (142,368) 262. 825 2, 852, 807 2, 225, 384 199,537 (742,368) 61,676 Total 4,810.859 324, 501 5, 735, 360 21. Reconclllatlon of net movement In funds to net cash flow from operating a¢tivitles 2025 2024 Nel expenditure for the year las per Statement of Financial Activities) (1,39S) (179,007) Adjustments for: Depreciation charges Increase in debtors Increasel{decreasel in creditors Investment property revaluation 16,297 {82,002) 3,566 22,393 (4, 544) (4, 545) 182,421 Net cash provided byl{used in) operating actlvlties {63,5351 16, 718 22. Analysis of cash and cash equivalents 2025 2024 Cash in hand 93,931 164,941 Total cash and cash equivalents 93,931 164,941 Page 35
HENDERSON TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 23. Analysis of Changes in net debt At 1 April 2024 At 31 March 2025 Cash flows Cash at bank and in hand 164,941 (71,0101 93,931 164,941 {71,0101 93,931 24. Pension commitments The Trust operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Trust in an independently administered fund, The pension cost charge represents contributions payable by the Trust to the fund and amounted lo £17,07912024 - £17.2901. 25. Operatlng lease commltments At 31 March 2025 the Trust had commitments to make future minimum lease payments under non- cancellable operating leases as follows.. 2025 2024 Not later than 1 year Later than 1 year and not later than 5 years 135 807 135 135 942 The following lease payments have been recognised as an expense in Ihe Statement of Financial Aclivilies. 2025 2024 Operating lease rentals 807 807 26. Related party transa¢tlons During the year the Trust made purchases of £5,091 {2024 £4,553) from A W Electrical Services Norwich, a business under the Control of a Close family member of Lynda Wilkinson. Lynda Wilkinson is also a director of A W Electrical Services Nomich. Page 36