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2021-05-31-accounts

HILL HOLT WOOD

(LIMITED BY GUARANTEE)

Registered Charity Number 1119915 Company Number 04426756

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021

HILL HOLT WOOD (LIMITED BY GUARANTEE)

Registered Company Number 04426756 Registered Charity Number 1119915

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021

Page
Legal and administrative information 1
Report of the Trustees 2-9
Report of the Auditors 10-12
Consolidated statement of financial activities 13
Consolidated and charity balance sheets 14
Consolidated cash flow statements 15
Notes forming part of the financial statements 16-28

Registered Company Number 04426756 Registered Charity Number 1119915

HILL HOLT WOOD (LIMITED BY GUARANTEE)

Reference and Administrative Information

Registered Charity number 1119915

Registered Company number

04426756 (England and Wales)

Registered office

Hill Holt Wood Norton Disney Lincolnshire LN6 9JP

Trustees

S Clarke (Chair) J Taylor - Resigned 24 September 2021 G Georgiou N C Wray R G Hazenberg S F Ashmore S K Howe - Resigned 27 September 2021 M Cook

Auditors

Wright Vigar Limited Registered Auditors Chartered Accountants & Business Advisers Northgate House Northgate, Sleaford Lincolnshire NG34 7BZ

Advisers Senior Management Team

S Donagain Chief Executive R Rousseau Head of Finance B Wilson Head Ranger O Woodman Head of Operations H Drake Head of Business S Oates Head of Education

Bankers

HSBC plc 221 High Street Lincoln LN2 1AZ

Page 1

HILL HOLT WOOD (LIMITED BY GUARANTEE)

Registered Company Number 04426756 Registered Charity Number 1119915

Report of the trustees for the year ended 31 May 2021

The trustees, who are also directors of the charity for the purposes of the Companies Act, submit their annual report and the audited financial statements for the year ended 31 May 2021.

The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).

Objectives and activities

  1. promote sustainable development for the benefit of the public by: (a) the preservation, conservation and protection of the environment and the prudent use of resources; (b) the relief of poverty and the improvement of the conditions of life in socially and disadvantaged communities; (c) the promotion of sustainable means of achieving economic growth and regeneration to advance the education of the public in subjects relating to sustainable development and the protection, enhancement and rehabilitation of the environment. Sustainable development means ''development which meets the needs of the present without compromising the ability of future generations to meet their own needs'';

  2. the preservation and protection of good health of the parents and carers of children and young people with special needs, by the provision of information, advice and support services and the development of mutual support networks between parents and carers;

  3. the provision of recreational facilities and activities for the public at large or those who by reason on their youth, age, infirmity or disablement, financial hardship or social and economic circumstances, have need of such facilities or activities for the purposes of better integration into the community and crime reduction; and

  4. such other charitable means as may from time to time be determined by the directors.

The Charity is grateful for the efforts of its volunteers at Big Wood who are involved in the conservation, build environment and peer review work of the project.

Since its formation HHW has been a free public access site and is considered a valuable resource by the local community. It has been a priority to date to maintain this open access however to protect our Staff and students the decision to close the woods during the pandemic was taken although remained open at our sister site Norton Bigwood.

Public Benefit

Public benefit is central to the work of all charities. In deciding what activities the charity will undertake during the year the Trustees take note of the Charity Commission guidance on Public Benefit. In particular the Trustees consider how planned activities will contribute to the aims and objectives they have set. As the wood is open free of charge to the public the benefit derived is considerable.

Page 2

HILL HOLT WOOD (LIMITED BY GUARANTEE)

Registered Company Number 04426756 Registered Charity Number 1119915

Report of the trustees for the year ended 31 May 2021

ACHIEVEMENT AND PERFORMANCE

We continued to deliver education to our students despite the lockdowns and 55 young people were on our EFSA funded study programme and a further 8 funded by schools and local authorities. A bubble system was fully implemented including purchasing a giant teepee to create another classroom space.

Our A-Maze in Nature project funded by Lincolnshire partnership NHS foundation trust was very successful despite having to break during a lockdown we still overachieved in terms of numbers of people attending to aid their mental health.

We also began running other grant funded projects to aid mental health. They run on alternative Mondays. Seasonal cycles is about surveying and recording the changes in nature over a year and Coppice crafts is funded through suicide prevention specifically aimed at men aged 25 -59.

Construction of our new public toilets have been completed ready for when we reopen our gates to the wider public.

Challenges

No events have been able to take place due to lockdowns which will impact on the income of Hill Holt in the Community, and we have not been able to reopen the Hive café.

Students’ attendance rates dropped due to isolations and a lack of structure caused by the pandemic.

HILL HOLT HEATH

There has been an increased demand for our services in this area, so we have employed a second ranger on the Tuesday to Friday main project and have kept the Mondays to run our small grant funded projects so that a wider range of people get to use our Bigwood site.

Page 3

HILL HOLT WOOD (LIMITED BY GUARANTEE)

Registered Company Number 04426756 Registered Charity Number 1119915

Report of the trustees for the year ended 31 May 2021

Page 4

HILL HOLT WOOD (LIMITED BY GUARANTEE)

Registered Company Number 04426756 Registered Charity Number 1119915

Report of the trustees for the year ended 31 May 2021

FINANCIAL REVIEW

Reserves Policy

Unrestricted funds are needed:

The trustees consider it prudent that the unrestricted reserves should be sufficient:

The level of reserves is regularly monitored and reviewed by the trustees at board meetings. Six months of wages has been set as the target reserve level.

Risk Management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The risk register is continually updated to reflect the many changes made in the recent government cuts. Risks include change to funding arrangements, fire in the wood and livestock diseases such as foot and mouth or bird flu as well as safeguarding, serious theft and damage to buildings. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces.

Internal control risks are managed by the implementation of procedures for authorization of all transactions and projects. Procedures are in place to ensure compliance with health and safety of staff, volunteers, clients and visitors to the woodland.

A traffic light system has also been implemented on financial information to show trustees of any potential risks at an early stage.

An external HR company has been contracted to support the SMT ensuring legislation is updated

Page 5

HILL HOLT WOOD (LIMITED BY GUARANTEE)

Registered Company Number 04426756 Registered Charity Number 1119915

Report of the trustees for the year ended 31 May 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is a charitable company limited by guarantee. A memorandum and articles of association govern it. In the event of the company being wound up members are required to contribute an amount not exceeding £1.

Recruitment and appointment of Directors

The directors of the company are also charity trustees for the purposes of charity law and under the company’s Articles are known as Directors. Under the requirements of the Memorandum and Articles of Association the Directors are elected to serve for a period of three years after which they must be re-elected at the next Annual General Meeting.

Much of the charity’s work inevitably focuses upon young people and vulnerable adults and Directors seek to ensure that the needs of this group are appropriately reflected through the diversity of the trustee body. To enhance the potential pool of trustees, the charity has, through networking and partnerships with local agencies and educational bodies sought to identify appropriate Directors to use their own experience to assist the charity.

The more traditional business, environmental and marketing skills are represented on the Board. The board uses audits recommended by the Charity Commission to ensure the breadth of skills that are needed are present, and succession planning is partially skills based.

Organisational Structure

Hill Holt Wood has a Board of 8 volunteer Trustees who meet quarterly and are responsible for the strategic direction and policy of the charity. An Executive committee can be called board meetings to discuss finance and strategic matters. During the year 1 new trustee was elected.

A scheme of delegation is in place and day-to-day responsibility for the provision of the services rest with the Chief Executive along with the Senior Management Team. The Chief Executive is responsible for ensuring that the charity delivers the services specified and that key performance indicators are met. The Senior Management team comprising of a Head of Business, Head Ranger, Head of Finance, Head of Education and Head of Operations assists him.

The Senior Management Team comprises of:

Steven Donagain – CEO Hollie Drake – Head of Business Ben Wilson – Head Ranger Oliver Woodman – Head of Operations Ryan Rosseau – Head of Finance Sarah Oates – Head of Education

Page 6

HILL HOLT WOOD (LIMITED BY GUARANTEE)

Registered Company Number 04426756 Registered Charity Number 1119915

Report of the trustees for the year ended 31 May 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT continued

Trustee Induction and Training

The Directors’ induction handbook has been updated and reflect recent legislative changes.

Most Directors are already familiar with the practical work of the charity, visiting the woodland in their leisure time and are encouraged to spend a ‘buddy’ day with rangers and learners. New trustees must attend a one-day induction visit to familiarise themselves with the charity and the context within which it operates. There will be a series of one day workshops throughout the year. These are held at HHW and other group locations, with the opportunity to meet staff and learners. Safeguarding training forms part of this induction requiring training to be completed in Safeguarding children, Prevent agenda and equality and diversity.

Key Management remuneration

The Trustees consider the role and responsibilities of key management personnel and review the remuneration package in line with similar entities. Annual appraisals and pay reviews on key management personnel are undertaken based on the individual's performance of their duties and fulfilment of the objectives of the charity in the period.

Page 7

HILL HOLT WOOD (LIMITED BY GUARANTEE)

Registered Company Number 04426756 Registered Charity Number 1119915

Report of the trustees for the year ended 31 May 2021

STATEMENT OF TRUSTEES RESPONSIBILITIES

The trustees (who are also directors of Hill Holt Wood for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure of the charitable company for the year. In preparing these financial statements, the trustees are required to:

• State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and

• Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

• The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Page 8

HILL HOLT WOOD IUMrrED BY GUARAp¥fEE} Roglst•rèd Company Nurnbor 04426756 R•g18t•r￿ Ch•rtty Number 1119915 Rèport of the trust￿$ for the ￿ar ended 31 May 2021 stst¢mgnt of ￿8￿on of Infonnatlon to Auditorn So far a5 the tDJstees aro avAie, thor• is no relevant infwmatlon {as défin8d by Saction 418 of thè Companlès Act 20061 of thich the charilable company s audit￿S are unaware. and each Injslee has taken all the steps that they ought lo have taken as a twslee in order to make Ihem a￿Te of any audit infonnatk)n arKI to estsblish thal the charitsble company s auditors are 8wore ol that inlCwmatic￿. AUDITORS A resolution proposlng the r8t8nlth ol audi￿ WnW Vwor b¢ put lo Ihg Annual Genèrnl M8&ting. ON BEHALF OF THE BOARD.. S Clarke (Chairl Data.. 2 Nov8mbor 2021 Pa8e 9

HILL HOLT WOOD (LIMITED BY GUARANTEE)

Registered Company Number 04426756 Registered Charity Number 1119915

Report of the Independent Auditors to the Members of Hill Holt Wood

Opinion

We have audited the financial statements of Hill Holt Wood Limited (the ‘parent charitable company’) and its subsidiaries (the ‘group’) for the year ended 31 May 2021 which comprise the Group Statement of Financial Activities, the group and the Parent Charitable Company Balance Sheet, the Group Cash Flow Statement and notes to the financial statements, 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 group’s and parent charitable company’s affairs as at 31 May 2021, and of the group’s incoming resources and application of resources, including its income and expenditure, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group’s or parent charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The Trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Annual Report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Page 10

HILL HOLT WOOD (LIMITED BY GUARANTEE)

Registered Company Number 04426756 Registered Charity Number 1119915

Report of the Independent Auditors to the Members of Hill Holt Wood

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 8, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group’s and parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed under the Companies Act 2006 and report in accordance with this.

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, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Page 11

HILL HOLT WOOD (LIMITED BY GUARANTEE)

Registered Company Number 04426756 Registered Charity Number 1119915

Report of the Independent Auditors to the Members of Hill Holt Wood

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our work is performed to include an assessment of the susceptibility of the entity's financial statements to material misstatement, including the risk of fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).

In identifying and assessing risk of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, our procedures included the following:

We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. 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 and to the charitable company’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s members and its Trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s Trustees as a body, for our audit work, for this report, or for the opinions we have formed.

James Sewell BA (Hons) FCA CTA (Senior Statutory Auditor) for and on behalf of Wright Vigar Limited Statutory Auditors, Chartered Accountants and Business Advisors 15 Newland Lincoln LN1 1XG

Date: 2 November 2021

Page 12

HILL HOLT WOOD

(LIMITED BY GUARANTEE)

Registered Company Number 04426756 Registered Charity Number 1119915

Consolidated Statement of Financial Activities (including summary income and expenditure account) for the year ended 31 May 2021

Notes
Income and endowments from:
Donations and legacies
Other trading activities
2
Income from investments
Charitable activities:
Conservation and training
3
Other Income
Total incoming resources
Expenditure on:
Raising funds
4
Charitable activities:
Conservation and Training
4
Total resources expended
Net income/(expenditure)
Gross transfers between funds
Net income/(expenditure)
Reconciliation of funds
Fund balances brought forward at 1 June 2020
Fund balances carried forward at 31 May 2021		 Unrestricted
Funds
£
7,618
265,813
2,798
674,418
16,674
967,321
138,136
646,005
784,141
183,180
14,708
197,888
1,360,442
1,558,330		 Restricted
Funds
£
-
-
-
175,248
-
175,248
-
192,133
192,133
(16,885)
(14,708)
(31,593)
229,040
197,447		 Total
2021
£
7,618
265,813
2,798
849,666
16,674
1,142,569
138,136
838,138
976,274
166,295
-
166,295
1,589,482
1,755,777		 Total
2020
as restated
£
250
270,244
472
793,080
26,496
1,090,542
110,743
839,294
950,037
140,505
-
140,505
1,448,977
1,589,482

All of the above results are derived from continuing activities. All gains and losses recognised in the year are included above.

Page 13

HILL HOLT WOOD GROUP {LIMITED 8Y GUARANTEEI R•glst•r•d Cthnpany Numb¢r IY4426756 Reglstered Charlty Number 1119915 Consolldat•d and Charlty Balab)fA sh￿ts u at 31 Ilay 2021 Group 2021 Group 2020 Chrtty 2021 Charlty 2020 •s r•8iated •s r•statsd Flx•d a8901s Tong1ble assets Inveslrnonts Investrlleni pr￿rtY 889 10 1.169.049 1.138.19J 1,143,963 1.118,231 245.(￿) 1,383.1 45.000 1,188.965 45.000 1,183,233 1.369,049 Curr•nt ￿1•ts st￿ks 08b¢c￿5 Cash al bank and In hand 12 13 45,827 44.104 331.353 421.284 64.394 146.551 413.055 824.0(X) 45.827 111.800 285,672 443.299 467,839 586.813 Cr•dl¢ors .' amovnts falllng du• wlthln on• y••r 14•t curr•nt 1￿ 14 86,736 s￿,071 72,603 348.681 51.036 572,964 39,003 404,296 T4)tsl a•••ts l••• ¢urT•nt Il¥bllltl 1.869.126 1.731071 1,761.929 1,567,529 Cr•dltor• , •mounl• l•lllng 15 113,349 142,389 46.487 50,435 N•t •8¥•ts 1.755.777 1.589.482 1,715,442 1,517,094 Funds.. Unrestrrct8d fund5 Resln'cled fund$ 1.S58.330 197,447 1,360.442 229.040 1.517,995 197.447 1.268,054 229.040 Total lunds 18&17 1.755,777 1,S89.482 1.71S,442 1.S17,094 Thè Irust88s h8v8 w•par6d 9￿P 8cccMJnts ￿ accordart8 %wlh sectK¥) 398 ofthe C(wnpanies Act 2006 and seckn 138 of th8 Charfties Act 2011. These accnunts are yepared in a￿Kdanc£ wth the speual proM5vJns of Part 15 of the Companies Act relatin9 to sm811 cornpanies 8NI CCffiSlTrtth8 th8 Annual a￿￿nts r￿Ullet1 by the Ccnpank8s Act 2006 and ar• for eArtsJIa￿n to M￿￿￿r$ ol Ihe c£*npwry. The finan￿￿1 St8￿mentS on pages 13- 28 8Pkwoved by tho Iw61ees 2nd ￿tser 2021. and signed on behaff by. S Clarke nL4le¢l Page 14

HILL HOLT WOOD GROUP (LIMITED BY GUARANTEE)

Registered Company Number 04426756 Registered Charity Number 1119915

Consolidated Cash Flow Statement for the year ended 31 May 2021

2021 2021 2020 2020
£ £ £ £
as restated as restated
Cash flows from operating activities: 169,879 116,022
Net cash provided by (used in) operating activities
Cash flows from investing activities:
Dividends, interest and rents from investments 17,719 18,472
Proceeds from the sale of property, plant and equipment 50,000 0
Purchase of property, plant and equipment (66,800) (20,207)
Net cash provided by (used in) investing activities 919 (1,735)
Repayment of borrowings (34,312) (17,208)
Cash used in financing activities (34,312) (17,208)
Change in cash and cash equivalents in the reporting period 136,486 97,079
Cash and cash equivalents at the beginning of the reporting period 331,353 234,274
Cash and cash equivalents at the end of the reporting period 467,839 331,353
Net income/(expenditure) for the reporting period
(as per statement of financial activities) 166,295 140,505
Adjustments for:
Depreciation 29,377 22,175
Interest and rents from investments (17,719) (18,472)
Loss/(profit) on sale of fixed assets 1,564 0
Loss on revaluation of investment property - -
(Increase)/decrease in stock (18,567) (6,434)
(Increase)/decrease in debtors (10,476) 66,360
Increase/(decrease) in creditors 19,405 (88,112)
Net cash inflow from operating activity 169,879 116,022
Total cash and cash equivalents 467,839 331,353

Page 15

HILL HOLT WOOD (LIMITED BY GUARANTEE)

Registered Company Number 04426756 Registered Charity Number 1119915

Notes forming part of the financial statements for the year ended 31 May 2021

1 Accounting policies

(a) Basis of preparation

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)', 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 with the exception of investments which are included at market value.

The financial statements consolidate the results of the charity and its subsidiary undertakings, Hill Holt in the Community Limited and Hill Holt Gainsborough Limited on a line by line basis. A separate Statement of Financial Activities and income and expenditure account for the charity has not been presented because the charity has taken advantage of the exemption afforded by section 408 of the Companies Act 2006.

(b) Company status

The charity 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 charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

(c) Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity 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 charity for particular purposes. The cost 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 to the financial statements.

(d) Incoming resources

All incoming resources are included in the SOFA when the following conditions are met:

Page 16

HILL HOLT WOOD (LIMITED BY GUARANTEE)

Registered Company Number 04426756 Registered Charity Number 1119915

Notes forming part of the financial statements for the year ended 31 May 2021

(d) Incoming resources continued

For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received.

Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities where receivable. Grants, where entitlements in not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.

Investment income is included when receivable.

Incoming resources from charitable trading activity are accounted for on an invoice basis when the work is complete and the charity has the right to the income.

(e) Resources expended

All expenditure is recognised when it is probable that settlement is required. Expenditure has been classified under headings that aggregate all costs related to the category.

Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources.

Expenditure applying to one activity or cost category has been directly allocated. Other overheads have been apportioned on the basis of overall time spent and resources utilised:

Charitable Governance
Company Secretary salary 90% 10%
Office and general administration costs 100% 0%
Depreciation 100% 0%
Insurance, light and heat, telephone, post and stationery, advertising, motor 90% 10%

Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice.

(f) Tangible fixed assets and depreciation

Depreciation is provided on all tangible fixed assets at the following annual rates in order to write each asset over its expected useful economic life as follows:-

Short Leasehold/ improvments to property - 10% on cost Plant and machinery - 15% on reducing balance Motor vehicles - 25% on reducing balance Computer Equipment - 33% on cost

Page 17

HILL HOLT WOOD (LIMITED BY GUARANTEE)

Registered Company Number 04426756 Registered Charity Number 1119915

Notes forming part of the financial statements for the year ended 31 May 2021

(g) Stock

Stocks are valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving stock. Freehold properties purchased for redevelopment are included in stock until the work is complete when they are transferred to Fixed Assets.

(h)

Taxation

The charity is exempt from corporation tax on its charitable activities.

(i) Pension costs and other post-retirement 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.

(k) Irrecoverable VAT

As the charity is not VAT registered, and is not eligible for registration, any VAT charged on resources expended is irrecoverable. The irrecoverable VAT has been allocated to the cost to which it relates.

(l) Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the statement of financial activity on a straight line basis over the period of the lease.

(m) Investment Properties

Each property is valued individually, rather than as part of a portfolio. Invesment properties are recognised at fair value and any surpluses or impairments are recognised in the SOFA as net gains/(losses) on investments.

Investment properties are stated at market value in accordance with generally accepted accounting standards. The investment properties were valued by Drewery & Wheeldon on an open market basis as at 15 May 2018.

(n) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three or less from the date of aquistion or opening of the deposit and similar account.

Page 18

HILL HOLT WOOD (LIMITED BY GUARANTEE)

Registered Company Number 04426756 Registered Charity Number 1119915

Notes forming part of the financial statements for the year ended 31 May 2021

2
Other trading activities
Services provided
Wood sales
Eco burial income
Consultancy income
The services provided above include:
Services through Hill Holt in the Community Limited (note 19)
excluding trading with other group companies
3
Charitable Activities
Activity: Conservation and training
EFA Training Programme
Grants
Hill Holt Heath
Seminars
School referrals
Rents received
High needs funding
Grants received, included in the above, are as follows
Big Lottery 'Our Environment Our Future'
Kickstart Scheme
Power to Change
Build your skills
Royal Forestry Grant
Other Grants		 2021
£
240,193
-
24,920
700
265,813
220,247
2021
£
342,491
191,249
61,736
73,361
17,719
163,110
849,666
2021
£
126,563
3,120
25,000
7,815
12,750
16,001
191,249		 2020
£
as restated
240,896
8,738
20,565
45
270,244
234,919
2020
£
as restated
313,187
204,612
53,251
10,293
67,445
18,000
126,291
793,079
2020
£
as restated
201,656
-
-
-
-
2,956
204,612

Page 19

HILL HOLT WOOD (LIMITED BY GUARANTEE)

Registered Company Number 04426756 Registered Charity Number 1119915

Notes forming part of the financial statements for the year ended 31 May 2021

4 Total resources expended

Total resources expended
Raising funds
Charitable activities
Direct costs
Support and governance costs 5		 Staff
Costs
£
104,069
112,994
479,455
592,449		 Other
Costs
£
34,067
121,989
123,700
245,689		 Total
2021
£
138,136
234,983
603,155
838,138		 Total
2020
as restated
£
110,743
291,423
547,871
839,294

5 Analysis of support and governance costs

Salaries, wages and other related costs
General office
Repairs & renewals
Accountancy services
Tax
Legal and professional fees
Depreciation and loss/(profit) on disposals
Insurance, light & heat, post & stationery
Advertising
Motor and travel expenses
Bank charges and interest		 General
support
£
479,455
32,014
17,708
-
-
5,335
31,029
4,367
224
4,011
10,706
584,849		 Governance
costs
£
-
-
-
16,382
1,924
-
-
-
-
-
-
18,306		 Total
2021
£
479,455
32,014
17,708
16,382
1,924
5,335
31,029
4,367
224
4,011
10,706
603,155

During the period grants were paid to individuals totalling £20,579 (2020: £24,686).

Other allocated costs include

Other allocated costs include
2021 2020
£ £
Auditor's remuneration (including expenses and benefits in kind) as restated
Audit fee 5,078 5,992
Accountancy, taxation and other services 11,304 13,182
Depreciation 29,377 22,176
(Gain) / Loss on sale of tangible fixed assets 1,652 -

Trustees' remuneration

The trustees neither received nor waived any emoluments during the year (2020: £nil).

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 May 2021 nor for the year ended 31 May 2020.

Page 20

HILL HOLT WOOD (LIMITED BY GUARANTEE)

Registered Company Number 04426756 Registered Charity Number 1119915

Notes forming part of the financial statements for the year ended 31 May 2021

6 Staff costs

Staff costs
Wages and salaries
Social security costs
Pension costs		 2021
£
666,912
20,751
8,855
696,518		 2020
£
as restated
608,097
29,125
10,456
647,678

No employees were paid more than £60,000 for the year ended 31 May 2021.

The average number of employees, calculated on a full time equivalent basis, analysed by function was :

function was :
Charitable activities - Staff and supervision
Cost of generating funds
Management and administration of the charity		 2021
32
5
1
38		 2020
as restated
29
4
1
34

7 Pension Costs

The charity operates a non-contributory pension scheme. It is a defined contribution scheme and contributions are charged in the statement of financial activities as they accrue. The charge for the year was £8,855 (2020: £10,456).

Page 21

HILL HOLT WOOD (LIMITED BY GUARANTEE)

Registered Company Number 04426756 Registered Charity Number 1119915

Notes forming part of the financial statements for the year ended 31 May 2021

Cost
At 1 June 2020
Additions
Disposals
At 31 May 2021
Depreciation
At 1 June 2020
Charge for year
On disposals
At 31 May 2021
Net book value
at 31 May 2021
At 31 May 2020		 Freehold
land and
buildings
£
1,054,407
-
1,054,407
25,907
-
-
25,907
1,028,500
1,028,500		 Improvements
to
property
£
42,310
-
-
42,310
25,388
3,281
-
28,669
13,641
16,922		 Plant &
Machinery
Computer
Equipment
£
214,413
65,700
(29,447)
250,666
155,511
18,145
(25,775)
147,881
102,785
58,902		 Motor
vehicles
£
85,211
1,100
(6,500)
79,811
51,345
7,951
(3,608)
55,688
24,123
33,866		 Total
£
1,396,341
66,800
(35,947)
1,427,194
258,151
29,377
(29,383)
258,145
1,169,049
1,138,190

Page 22

HILL HOLT WOOD (LIMITED BY GUARANTEE)

Registered Company Number 04426756 Registered Charity Number 1119915

Notes forming part of the financial statements for the year ended 31 May 2021

Freehold land
and buildings
and short leasehold
£
Cost
At 1 June 2020
1,054,407
Additions
-
Disposals
-
Revaluation
-
At 31 May 2021
1,054,407
Depreciation
At 1 June 2020
25,907
Charge for year
-
On disposals
-
At 31 May 2021
25,907
Net book value
at 31 May 2021
1,028,500
At 31 May 2020
1,028,500		 Improvements
to
property
£
42,310
-
-
-
42,310
25,388
3,281
-
28,669
13,641
16,922		 Plant &
Machinery
Computer
equipment
£
178,240
56,525
(29,447)
-
205,318
135,008
15,107
(25,775)
124,340
80,978
43,232		 Motor
vehicles
£
74,163
-
(3,000)
-
71,163
44,586
6,948
(1,215)
50,319
20,844
29,577		 Total
£
1,349,120
56,525
(32,447)
-
1,373,198
230,889
25,336
(26,990)
229,235
1,143,963
1,118,231

Included in the cost or valuation of land and buildings is freehold land of £155,120.

Included in fixed asset land and buildings is the cost of creating the Community Building. The value relating to this at the year end is £638,039 which represents the cost of the asset not depreciated.

10 Fixed asset investments

Investments held by the charity represents £1 investment in each of the two subsidiary companies at cost (see note 20).

Page 23

HILL HOLT WOOD (LIMITED BY GUARANTEE)

Registered Company Number 04426756 Registered Charity Number 1119915

Notes forming part of the financial statements for the year ended 31 May 2021

11 Investment properties

Cost
At 1 June 2020
Additions
Disposals
Revaluations
At 31 May 2021
Net book value
at 31 May 2021
At 31 May 2020
Cost of valuation at 31 May 2020 is represented by:
Valuation in 2013
Valuation in 2014
Valuation in 2015
Valuation in 2018
Cost		 Group
2021
245,000
-
(45,000)
-
200,000
200,000
245,000
Group
2021
£
(34,986)
(51,162)
(2,096)
(7,500)
295,744
200,000		 Charity
2021
45,000
-
-
-
45,000
45,000
45,000
Charity
2021
£
(34,986)
(3,269)
-
(2,500)
85,755
45,000

Investment property was valued on an open market basis on 15 May 2018 by Drewery & Wheeldon Valuers & Auctioneers.

If invesment properties had not been revalued they would have been included at the following historical cost:

Cost
12
Stock
Other stock
Work in Progress		 Group
2021
£
295,744
Group
2021
£
28,767
35,627
64,394		 Group
2020
£
as restated
364,923
Group
2020
as restated
£
17,617
28,210
45,827		 Charity
2021
£
85,755
Charity
2021
£
28,767
35,627
64,394		 Charity
2020
£
as restated
85,755
Charity
2020
as restated
£
17,617
28,210
45,827

Page 24

HILL HOLT WOOD (LIMITED BY GUARANTEE)

Registered Company Number 04426756 Registered Charity Number 1119915

Notes forming part of the financial statements for the year ended 31 May 2020

13 Debtors

Trade debtors
Other debtors
Amount owed by subsidiary undertaking		 Group
2021
£
50,440
4,140
-
54,580		 Group
2020
£
as restated
38,751
5,353
-
44,104		 Charity
2021
£
42,053
4,100
100,398
146,551		 Charity
2020
£
as restated
28,380
3,936
79,484
111,800

14 Creditors : amounts falling due within one year

Group
2021
£
Bank loans and overdrafts
7,517
Trade creditors
4,814
Taxation and social security costs
20,003
Other creditors
54,402
86,736
15
Creditors: amounts falling due after more than one year
Group
2021
£
Bank loans
113,349
Amounts falling due after more than five years
Repayable by instalments
2021
Bank loans
82,415		 Group
2020
£
as restated
12,789
7,033
27,332
25,449
72,603
Group
2020
£
as restated
142,389
2020
as restated
106,519		 Charity
2021
£
3,179
3,362
6,957
37,538
51,036
Charity
2021
£
46,487
2021
33,771		 Charity
2020
£
as restated
7,619
3,740
7,213
20,431
39,003
Charity
2020
£
as restated
50,435
2020
as restated
37,720

Bank loans are secured over the freehold property held by the Group.

Page 25

HILL HOLT WOOD (LIMITED BY GUARANTEE)

Registered Company Number 04426756 Registered Charity Number 1119915

Notes forming part of the financial statements for the year ended 31 May 2021

16 Statement of funds

General Reserve
Total unrestricted funds
Restricted funds
Big Wood
Kickstart Scheme
Power to Change
European Social Fund
Royal Forestry
Total restricted funds
Total Funds
Big Lottery Fund (Our
Environment Our Future)		 At 31 May
2020
as restated
£
1,360,442		 Income
£
967,321
967,321
-
3,120
25,000
7,815
12,750
126,563
175,248
1,142,569		 Expenditure
£
(784,141)
(784,141)
-
(1,658)
(11,192)
(10,353)
(12,750)
(156,180)
(192,133)
(976,274)		 Transfers
£
14,708
14,708
-
-
(13,808)
(900)
(14,708)
-		 At 31 May
2021
£
1,558,330
1,360,442 1,558,330
150,000
-
-
-
-
79,040		 150,000
1,462
-
(2,538)
-
48,523
229,040 197,447
1,589,482 1,755,777

The General reserve represents the free funds of the charity which are not designated for particular purposes.

The largest restricted funds are as follows:-

Big Wood:

A project, funded by Ecominds, to establish a "green recovery" program in Norton Big Wood for local people with mental health and well-being issues. Funding was taken over by Bromhead Medical Charity after the Ecominds involvement came to an end, which also ended in 2015. During the project land was purchased to the value of £150,000 which is subject to ongoing conditions of use. Due to this the land is carried forward as a restricted fund.

Big Lottery Fund (Our Environment Our Future)

This is a forward-thinking social movement that supports young people to lead progressive change in their communities and local environment. We aim to help young people step up and take what is rightfully theirs: a healthy planet, a thriving economy, and a brighter future.

Power to Change

This was a grant in partnership with Social Investment Business as a fund to support the re-engagement of charitable and community operations to support the local community with the interruptions caused from the coronavirus pandemic. This was aimed to bring back our Hill Holt Health programme to support the varying medical needs of individuals most impacted by the pandemic.

Royal Forestry

This was a grant to support the creation of a forestry ranger position through the Royal Forestry Society. It was to support the creation of jobs in the forestry industry which has been in decline in recent years and to encourage more people into the forestry profession.

European Social Fund

The European Social Fund was launched by the European Union to support with the international upskilling and job creation for citizens in the fallout of the coronavirus pandemic. This grant was awarded to us for a project we named Build Your Skills which was delivered to encourage the creation and support for more green jobs in the local community.

Kickstart change

This was a directly run Government programme to encourage the creation of apprenticeships and upskilling workers across the United Kingdom. It was focused primarily at creating jobs for younger citizens to get them into work as they are the biggest national demographic of unemployed. The Government awarded us the funds to create 3 jobs at Hill Holt Wood.

Transfers between funds

During the period the charity used the Power to Change fund to purchase fixed assets. As there are no ongoing restrictions relating to the asset it has been transferred to unrestricted funds.

Page 26

HILL HOLT WOOD (LIMITED BY GUARANTEE) Registered Company Number 04426756 Registered Charity Number 1119915

Notes forming part of the financial statements for the year ended 31 May 2021

16 Statement of funds

Negative fund balance

The negative fund balance on the European Social Fund is due to the timing of expenditure being in advance of the income recognition.

Hill Holt Wood

The results for the parent charity Hill Holt Wood have been included in the consolidated SOFA. For the year ended 31 May 2020 the total incoming resources for Hill Holt Wood were £1,004,726 (2020: £965,813) and outgoing resources of £806,378 (2020: £840,624).

17 Analysis of group net assets between funds

Fund balances at 31 May 2021 are represented by
Fixed assets
Tangible assets
Investment properties
Net Current Assets
Stock
Debtors
Bank & cash
Creditors
Total net assets		 General
funds
£
1,139,899
200,000
28,767
54,580
335,169
(200,085)
1,558,330		 Restricted
funds
£
29,150
35,627
132,670
-
197,447		 Total
funds
£
1,169,049
200,000
-
64,394
54,580
467,839
(200,085)
1,755,777

18 Related party transactions

During the year key management received remuneration totalling £168,718 (2020: £170,443).

19 Prior year Adjustment

An adjustment was made to the previous year to correct the work in progress recognition. This has increased the net asset position by £28,210.

Page 27

HILL HOLT WOOD (LIMITED BY GUARANTEE)

Registered Company Number 04426756 Registered Charity Number 1119915

Notes forming part of the financial statements for the year ended 31 May 2021

20 Subsidiary companies

The charity owns the whole of the issued ordinary share capital of Hill Holt in the Community Ltd, a company registered in England, number 06188432. The subsidiary was established for non-primary purpose trading activities. All activities have been consolidated on a line by line basis in the SOFA. The taxable profit is gifted to the charity.

The charity also owns the whole of the issued ordinary share capital of Hill Holt Gainsborough Limited, a company registered in England, number 08241099. The subsidiary was established as a special purpose vehicle for the Empty Homes project.

A summary of the results of the subsidiaries (including trading with other group companies) is shown below

Turnover
Cost of sales
Gross profit
Other Income
Administrative expenses
Interest payable and similar charges
Loss/(profit) on disposal of investment property
Fair value adjustment of investment property
Net Trading profit/(loss)
Tax on profit
Gift Aid transfer to Hill Holt Wood
Retained Profit / (Loss)
The aggregate of the assets, liabilities and funds was
Assets
Liabilities
Funds
Represented by
Called up share capital
Profit and loss account		 Total
Total
2021
2020
£
£
17,719
18,000
-
-
17,719
18,000
2,696
2,327
6,324
5,015
(5,000)
-
-
-
13,699
10,658
1,924
2,025
-
-
11,775
8,633
179,088
223,536
(228,008)
(284,231)
(48,920)
(60,695)
1
1
(48,921)
(60,696)
Hill Holt Gainsborough
Lmited		 Total
Total
2021
2020
£
£
220,245
234,918
84,785
66,283
135,460
168,635
11,000
16,746
79,169
71,617
-
-
-
-
-
-
67,291
113,764
-
-
111,120
135,392
(43,829)
(21,628)
217,848
214,776
(128,597)
(81,696)
89,251
133,080
1
1
89,250
133,079
Hill Holt in the Community
Limtied		 Total
Total
2021
2020
£
£
220,245
234,918
84,785
66,283
135,460
168,635
11,000
16,746
79,169
71,617
-
-
-
-
-
-
67,291
113,764
-
-
111,120
135,392
(43,829)
(21,628)
217,848
214,776
(128,597)
(81,696)
89,251
133,080
1
1
89,250
133,079
Hill Holt in the Community
Limtied
168,635
16,746
71,617
-
-
-
113,764
-
135,392
(21,628)
214,776
(81,696)
133,080
1
133,079

Page 28