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← Hill Holt Wood

2024-05-31-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 2024

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 2024

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

R G Hazenberg (Chair) - resigned 27.09.24 S Clarke - resigned 22.06.23 L Goodchild G Georgiou M Rhodes - resigned 13.11.23 R Parker N Wray (Chair) E Norton K Baggott - appointed 11.04.24 C Morton - appointed 15.12.22, resigned 11.12.23 M Prior - appointed 11.04.24 S Stringer - appointed 12.04.24 R Buchler - appointed 24.04.24

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 O Woodman Head of Operations G Warhurst Head of External Contracts J Hill 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 2024

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 2024.

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 2019).

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.

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 2024

ACHIEVEMENT AND PERFORMANCE

Our mental health improvement programs continued to be well attended this year Spaces of Reflection year 2 and launched Balancing nature, a heathland restoration project.

Works on the treehouse progressed well with the staircase being commissioned and external shingles completed.

Our project with Nottinghamshire police Operation swift continued, and we were visited by the police crime commissioner.

We held our most successful walking festival to date for North Kesteven District Council.

We planted over 3000 trees as part of landscaping works at a new industrial site in Sleaford.

Currently, we hold investments in the stock market with a stock brokerage firm that specialises in ethical, environmental and charitable investments with the firm, JM Finn. The investments are held to slowly grow income for the charity but via investing in ethical, environmental, low risk and social supporting activities that align closely with the charity’s mission statement and ethos. During the year, the expected growth in share value was expected to grow by 6.1%. The share value ultimately decreased by 4% due to the economic challenges and external factors affecting global markets but has stabilised and started to see positive recovery.

Challenges

Low increases in our core funding from the EFSA and no increase in Higher Needs funding for our most vulnerable learners are starting to stretch our financial resources, as our salary and operating costs increase at a much higher rate than funding increases. This continues to be a challenge especially as we increase in the number of young people with an education health and care plan.

Plans for the future

As part of our ongoing strategic mission and delivery of our organisation’s five-year plan, we have developed a long term growth plan which includes several notable commitments to continue to serve our community and deliver our values. These commitments were:

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 2024

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 2024

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.

The six-monthly reserve levels are set based upon the present staffing obligations and planned national wage increases commencing from each following April as of December of each year. The planned reserve levels do factor employer contributions due on top of the standard pay for all employees.

For the year ended 31st May 2024, these levels were set to: Six months – £360,500 Three months - £180,250

At the year end the charity had total reserves of £3,071,898 (2023: £2,127,055), of which £2,506,258 (2023: £1,902,460) were unrestricted and £565,640 (2023: 224,595) were restricted. Of the unrestricted reserves £2,371,105 (2023: £1,429,611) relate to the fixed assets used by the charity to carry out its objectives and therefore the free reserves available for spend are £135,153 (2023: £472,849). Some restricted reserves are specifically allocated to staff wages for the duration of the grant. In the event of drawing down against the combined allocated reserves, employees who are remunerated by ring-fenced salary grants will continue to be compensated via this method whilst the free reserves will be utilised against operational employees.

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 authorisation of all transactions and projects. Procedures are in place to ensure compliance with the health and safety of staff, volunteers, clients and visitors to the woodland. Fairview safety solutions have been contracted as external health and safety advisors.

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

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 2024

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 9 volunteer Trustees who meet quarterly and are responsible for the strategic direction and policy of the charity. An Executive committee can be called at Board meetings to discuss finance and strategic matters. During the year 1 trustees resigned their position and 4 new trustees were 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 comprises of a Head of External Contracts, Head of Finance, Head of Education and Head of Operations who assist him.

The Senior Management Team comprises of:

Steven Donagain – CEO Oliver Woodman – Head of Operations Ryan Rosseau – Head of Finance Jodie Hill – Head of Education Gavin Warhurst - Head of External Contracts

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 2024

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 familiarize 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, Diversity and Inclusion.

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 2024

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 (LIMITED BY GUARANTEE)

Registered Company Number 04426756 Registered Charity Number 1119915

Report of the trustees for the year ended 31 May 2024

Statement of provision of information to Auditors

So far as the trustees are aware, there is no relevant information (as defined by Section 418 of the Companies Act 2006) of which the charitable companys auditors are unaware, and each trustee has taken all the steps that they ought to have taken as a trustee in order to make them aware of any audit information and to establish that the charitable companys auditors are aware of that information.

AUDITORS

A resolution proposing the retention of auditors Wrights Vigar will be put to the Annual General Meeting.

ON BEHALF OF THE BOARD :

N Wray

N Wray (Dec 4, 2024 09:36 GMT)

N Wray (Chair)

Date: 4 December 2024

Page 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 2024 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 2024, and of the group’s incoming resources and application of resources, including its income and expenditure, for the year then ended;

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

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

James Sewell (Dec 4, 2024 12:04 GMT)

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: 4 December 2024

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 2024

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
Gains on investment property
Gains on revaluation of freehold property
Loss on investments
Net income/(expenditure)
Gross transfers between funds
Net income/(expenditure)
Reconciliation of funds
Fund balances brought forward at 1 June 2023
Fund balances carried forward at 31 May 2024		 Unrestricted
Funds
£
365
375,848
12,502
740,318
766
1,129,799
193,632
890,625
1,084,257
15,000
554,333
(12,389)
602,486
1,312
603,798
1,902,460
2,506,258		 Restricted
Funds
£
-
-
-
113,720
-
113,720
-
71,363
71,363
-
300,000
-
342,357
(1,312)
341,045
224,595
565,640		 Total
2024
£
365
375,848
12,502
854,038
766
1,243,519
193,632
961,988
1,155,620
15,000
854,333
(12,389)
944,843
-
944,843
2,127,055
3,071,898		 Total
2023
£
2,372
417,728
7,801
889,145
171
1,317,217
183,401
1,031,771
1,215,172
11,250
-
(16,650)
96,645
-
96,645
2,030,410
2,127,055

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 BY GUARANTEE)

Registered Company Number 04426756 Registered Charity Number 1119915

Consolidated and Charity Balance Sheets as at 31 May 2024

Group
2024
Notes
£
Fixed assets
Tangible assets
8 & 9
2,198,605
Investments
10
66,877
Investment property
11
172,500
2,437,982
Current assets
Stocks
12
172,004
Debtors
13
22,335
Cash at bank and in hand
548,514
742,853
Creditors : amounts falling due
within one year
14
77,416
Net current assets
665,437
Total assets less current liabilities
3,103,419
Creditors : amounts falling due
after more than one year
15
31,521
Net assets
3,071,898
Funds:
Unrestricted funds
1,951,925
Revaluation reserve
554,333
Restricted funds
565,640
Total funds
16 & 17
3,071,898		 Group
2023
£
1,197,111
79,266
232,500
1,508,877
118,410
68,815
627,109
814,334
102,210
712,124
2,221,001
93,946
2,127,055
1,902,460
-
224,595
2,127,055		 Charity
2024
£
2,119,084
66,879
57,500
2,243,463
172,004
94,155
507,651
773,810
55,371
718,439
2,961,902
31,521
2,930,381
1,809,096
554,333
566,952
2,930,381		 Charity
2023
£
1,162,713
79,268
52,500
1,294,481
118,410
114,702
563,521
796,633
70,724
725,909
2,020,390
36,243
1,984,147
1,759,552
-
224,595
1,984,147

The trustees have prepared group accounts in accordance with section 398 of the Companies Act 2006 and section 138 of the Charities Act 2011. These accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.

The financial statements on pages 13 - 28 were approved by the trustees on 4 December 2024 and signed on behalf by:

N Wray N Wray (Dec 4, 2024 09:36 GMT)

N Wray

(Trustee)

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 2024

2024 2024 2023 2023
£ £ £ £
Cash flows from operating activities: 67,986 69,889
Net cash provided by (used in) operating activities
Cash flows from investing activities:
Dividends, interest and rents from investments 24,202 19,988
Proceeds from the sale of property, plant and equipment 102,363 -
Proceeds from sale of investments - 18,355
Purchase of investments (5,620) (10,004)
Purchase of property, plant and equipment (199,334) (29,103)
Net cash provided by (used in) investing activities (78,389) (764)
Repayment of borrowings (68,192) (8,242)
Cash used in financing activities (68,192) (8,242)
Change in cash and cash equivalents in the reporting period (78,595) 60,883
Cash and cash equivalents at the beginning of the reporting period 627,109 566,226
Cash and cash equivalents at the end of the reporting period 548,514 627,109
Net income/(expenditure) for the reporting period
(as per statement of financial activities) 944,843 96,645
Adjustments for:
Depreciation 42,850 39,230
Interest and rents from investments (24,202) (19,988)
Loss/(profit) on sale of fixed assets (18,040) 14,526
Revaluation of tangible assets (869,333) (11,750)
Revaluation of investments 18,009 8,799
(Increase)/decrease in stock (53,594) (3,213)
(Increase)/decrease in debtors 46,480 (46,232)
Increase/(decrease) in creditors (19,027) (8,128)
Net cash inflow from operating activity 67,986 69,889
Total cash and cash equivalents 548,514 627,109

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 2024

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 2024

(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/ improvements 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 2024

(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. Investment 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 30 May 2024.

(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 acquisition or opening of the deposit and similar account.

(o) Investments

Investments are initially recognised at their transaction value and subsequently measured at their fair value at the balance sheet date. Any gains or losses arising on revaluation and disposals are included the statement of financial activities.

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 2024

2
Other trading activities
Services provided
Wood sales
Eco burial income
Consultancy income
Sundry
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
ESFA Training Programme
Grants
Hill Holt Heath
Alternative provision
Rents received
High needs funding
Grants received, included in the above, are as follows
Kickstart Scheme
Lincolnshire Co-op
Shine Sustainability Fund
Coppice crafting
Making Nottinghamshire Safe - Rural Crime
Royal Forestry Grant
Community association development
Network with Nature
Greenwood working
Groundwork UK
Natural England
Cargills CARE Partnership		 2024
£
317,875
16,761
27,556
120
13,536
375,848
317,875
2024
£
374,452
113,720
72,267
35,499
11,700
246,400
854,038
2024
£
-
969
31,073
-
61,908
216
-
-
-
18,554
-
1,000
113,720		 2023
£
335,418
18,169
40,983
4,100
19,058
417,728
335,418
2023
£
327,049
194,905
76,187
68,932
15,600
206,472
889,145
2023
£
6,511
-
24,240
5,288
-
34,519
6,518
110,200
5,613
1,510
506
-
194,905

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 2024

4 Total resources expended

Raising funds
Charitable activities
Direct costs
Support and governance costs 5		 Staff
Costs
£
150,516
121,742
540,094
661,836		 Other
Costs
£
43,116
159,094
141,058
300,152		 Total
2024
£
193,632
280,836
681,152
961,988		 Total
2023
£
183,401
318,321
713,450
1,031,771

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
£
540,094
52,285
7,731
-
16,500
24,810
7,962
207
4,647
5,188
659,424		 Governance
Total
costs
2024
£
£
540,094
52,285
7,731
20,435
20,435
1,293
1,293
16,500
24,810
7,962
207
4,647
5,188
21,728
681,152

During the period grants were paid to individuals totalling £28,537 (2023: £25,982).

Other allocated costs include

Other allocated costs include
2024 2023
£ £
Auditor's remuneration (including expenses and benefits in kind)
Audit fee 5,950 5,550
Accountancy, taxation and other services 14,185 12,969
Depreciation 42,850 39,230
(Profit) / Loss on sale of tangible fixed assets (18,040) 14,526

Trustees' remuneration

The trustees neither received nor waived any emoluments during the year (2023: £nil).

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 May 2024 nor for the year ended 31 May 2023.

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 2024

6 Staff costs

Staff costs
Wages and salaries
Social security costs
Pension costs		 2024
£
742,318
54,743
15,291
812,352		 2023
£
774,464
43,767
12,210
830,441

No employees were paid more than £60,000 for the year ended 31 May 2024.

The average number of employees, calculated on a full time equivalent basis, analysed by
function was :
2024
Charitable activities - Staff and supervision
32
Cost of generating funds
4
Management and administration of the charity
1
37		 2023
34
5
1
40

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 £15,291 (2023: £12,210).

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 2024

Cost
At 1 June 2023
Additions
Disposals
Revaluation
At 31 May 2024
Depreciation
At 1 June 2023
Charge for year
On disposals
At 31 May 2024
Net book value
at 31 May 2024
At 31 May 2023		 Freehold
land and
buildings
£
1,044,167
74,761
-
854,333
1,973,261
-
-
-
1,973,261
1,044,167		 Improvements
to
property
£
-
-
-
-
-
-
-
-
-
-
-		 Plant &
Machinery
Computer
Equipment
£
244,230
82,983
(16,589)
-
310,624
142,420
26,772
(12,681)
156,511
154,113
101,810		 Motor
vehicles
£
132,493
41,590
(30,998)
-
143,085
81,359
16,078
(25,583)
71,854
71,231
51,134		 Total
£
1,420,890
199,334
(47,587)
854,333
2,426,970
223,779
42,850
(38,264)
228,365
2,198,605
1,197,111

Cost or valuation at 31 May 2024 is represented by:

Valuation 2024
Cost		 Land and
buildings
£
854,333
1,118,928
1,973,261		 Plant and
machinery etc
£
-
453,709
453,709		 Totals
£
854,333
1,572,637
2,426,970
If freehold land and buildings had not been revalued they would have been included at the following historical cost:
2024 2023
£ £
1,118,928 1,044,167

Included in the total cost is freehold land with a cost of £436,083

Freehold land and buildings were valued on an open market basis on 30 May 2024 by Drewery & Wheeldon Valuers & Auctioneers.

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 2024

Cost
At 1 June 2023
Additions
Disposals
Revaluation
At 31 May 2024
Depreciation
At 1 June 2023
Charge for year
On disposals
At 31 May 2024
Net book value
at 31 May 2024
At 31 May 2023		 Freehold land
and buildings
£
1,044,168
74,761
-
854,333
1,973,262
-
-
-
1,973,262
1,044,168		 Improvements
to
property
£
-
-
-
-
-
-
-
-
-
-		 Plant &
Machinery
Computer
equipment
£
178,893
41,730
(855)
219,768
109,640
18,389
(475)
127,554
92,214
69,253		 Motor
vehicles
£
123,845
21,600
(30,998)
114,447
74,553
11,869
(25,583)
60,839
53,608
49,292		 Total
£
1,346,906
138,091
(31,853)
854,333
2,307,477
184,193
30,258
(26,058)
188,393
2,119,084
1,162,713

Freehold land and buildings were valued on an open market basis on 30 May 2024 by Drewery & Wheeldon Valuers & Auctioneers. If they had not been revalued they would have been included at an historical cost of £1,118,928 (2023: £1,044,168). Included in the total cost is freehold land with a cost of £436,083.

10 Fixed asset investments

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

Listed investments
As at 1 June 2023
Additions
Disposals
Revaluation
As at 31 May 2024
Historical cost at 31 March 2024		 2024
£
79,266
5,620
(18,009)
66,877
93,315		 2023
£
95,916
10,004
(17,855)
(8,799)
79,266
87,695

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 2024

11 Investment properties

Cost
At 1 June 2023
Additions
Disposals
Revaluations
At 31 May 2024
Net book value
at 31 May 2024
At 31 May 2023
Cost of valuation at 31 May 2023 is represented by:
Valuation in 2013
Valuation in 2014
Valuation in 2015
Valuation in 2018
Valuation in 2022
Valuation in 2023
Valuation in 2024
Cost		 Group
2024
232,500
-
(75,000)
15,000
172,500
172,500
232,500
Group
2024
£
(34,986)
(51,162)
17,870
(7,500)
11,250
11,250
15,000
210,778
172,500		 Charity
2024
52,500
-
-
5,000
57,500
57,500
52,500
Charity
2024
£
(34,986)
(3,269)
-
(2,500)
3,750
3,750
5,000
85,755
57,500

Investment property was valued on an open market basis on 30 May 2024 by Drewery & Wheeldon Valuers & Auctioneers.

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

Cost
12
Stock
Other stock
Work in Progress (assets under construction)		 Group
2024
£
210,778
Group
2024
£
50,084
121,920
172,004		 Group
2023
£
295,744
Group
2023
£
26,058
92,352
118,410		 Charity
2024
£
85,755
Charity
2024
£
50,084
121,920
172,004		 Charity
2023
£
85,755
Charity
2023
£
26,058
92,352
118,410

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 2024

13 Debtors

Trade debtors
Other debtors
Amount owed by subsidiary undertaking		 Group
2024
£
16,241
6,094
-
22,335		 Group
2023
£
63,660
5,155
-
68,815		 Charity
2024
£
8,862
5,817
79,476
94,155		 Charity
2023
£
55,317
4,878
54,507
114,702

14 Creditors : amounts falling due within one year

Group
2024
£
Bank loans and overdrafts
4,554
Trade creditors
6,193
Taxation and social security costs
22,081
Other creditors
44,588
77,416
Creditors: amounts falling due after more than one year
Group
2024
£
Bank loans
31,521
Amounts falling due after more than five years
Repayable by instalments
2024
Bank loans
13,305		 Group
2023
£
10,321
14,879
21,463
55,547
102,210
Group
2023
£
93,946
2023
56,624		 Charity
2024
£
4,554
5,977
7,740
37,100
55,371
Charity
2024
£
31,521
2024
13,305		 Charity
2023
£
4,554
8,370
8,656
49,144
70,724
Charity
2023
£
36,243
2023
18,027

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 2024

16 Statement of funds

General Reserve
Revaluation Reserve
Total unrestricted funds
Restricted funds
Big Wood
Lincolnshire Co-op
European Social Fund
Groundwork UK
Royal Forestry
Total restricted funds
Total Funds
Big Lottery Fund (Our
Environment Our Future)
Shine Sustainability Fund
Cargills CARE Partnership
Making Nottinghamshire
Safe - Rural Crime		 At 31 May
2023
£
1,902,460		 Income
£
1,129,799
1,129,799
969
31,073
18,554
61,908
1,000
216
-
113,720
1,243,519		 Expenditure
£
(1,084,257)
(1,084,257)
-
(969)
(23,403)
(18,554)
(27,221)
(1,000)
(216)
(71,363)
(1,155,620)		 Gains and
losses
£
2,611
554,333
556,944
300,000
-
-
-
-
-
-
-
-
300,000
856,944		 Transfers
£
1,312
1,312
-
-
(1,312)
-
-
-
-
-
-
(1,312)
-		 At 31 May
2024
£
1,951,925
554,333
1,902,460 2,506,258
150,000
-
1,312
21,545
-
-
-
-
51,738		 450,000
-
-
29,215
-
34,687
-
-
51,738
224,595 565,640
2,127,055 3,071,898

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 wellbeing 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 gifted 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.

Making Nottinghamshire Safe - Rural Crime

Make Nottinghamshire Safe Rural Crime Bid - This was a two year project in partnership with Newark & Sherwood Police Force, that we named Operation Swift, to help rehabilitate offenders of wildlife crime. We were chosen as the only testing site for a project that will be rolled out nationally if successful, to address youth offenders guilty of wildlife crime and in conjunction with the police force, help rehabilitate and assist them in restoring nature that they were found guilty of destroying. This project was aimed as community outreach to avoid offenders reoffending and helping their community service to avoid time spent in prison for being convicted. The aim after the two year project is for this scheme to be adopted at the national government level across the UK.

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.

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 2024

16 Statement of funds

- Shine Sustainability Fund Project 1

This was a three-year project from SHINE's Sustainability Fund to deliver a mental health programme to help people tackling loneliness, social isolation and suicide awareness that we named Spaces of Reflection. Each year as part of the fund, there was a new project delivered for one year based upon the awareness principles of 'see no evil, hear no evil, speak no evil' and each of the 3 unique sites will have physical wooden monuments to reflect this build by participants to address and help their mental health. Unlike previous SHINE projects, this one was open to anyone over the age of 16 and not a specific demographic.

- Shine Sustainability Fund Project 2

This was a three-year project from SHINE's Sustainability Fund to deliver a mental health programme to help people tackling loneliness, social isolation and suicide awareness that we named Balancing Nature. Each year as part of the fund, there was a new project delivered for one year and each year will help people reconnect with nature and restore their green spaces to help better their mental health by being within nature and creating safe spaces for them to be at peace whilst also assist their own health needs. Unlike previous SHINE projects, this one was open to anyone over the age of 16 and not a specific demographic.

Groundwork UK

A lottery subsidised grant for the creation of one ‘green’ job in our community to employ a worker for a community and environmental job for the period of one year with supported mentorship, training and experience.

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 2024 the total incoming resources for Hill Holt Wood were £1,033,580 (2023: £1,020,813) and outgoing resources of £934,291 (2023: £980,088). The surplus for the year after net gains/(losses) and revaluations was £946,233 (2023: £19,974)

17

Analysis of group net assets between funds

Fund balances at 31 May 2024 are represented by
Fixed assets
Tangible assets
Investments
Investment properties
Net Current Assets
Stock
Debtors
Bank & cash
Creditors
Total net assets		 General
funds
£
1,748,605
66,877
172,500
121,955
22,335
481,611
(108,937)
2,504,946		 Restricted
funds
£
450,000
-
-
50,049
-
66,903
-
566,952		 Total
funds
£
2,198,605
66,877
172,500
172,004
22,335
548,514
(108,937)
3,071,898

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 2024

18 Related party transactions

During the year key management received remuneration totalling £167,400 (2023: £194,135).

19 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
2024
2023
£
11,700
15,600
-
-
11,700
15,600
8,734
7,641
2,219
4,325
-
(10,000)
(7,500)
10,747
11,134
1,293
690
-
-
9,454
10,444
119,964
184,223
(124,593)
(198,306)
(4,629)
(14,083)
1
1
(4,630)
(14,084)
Hill Holt Gainsborough
Limited		 Total
Total
2024
2023
£
£
317,877
335,415
134,029
130,541
183,848
204,874
-
-
75,057
84,032
-
-
-
-
-
-
108,791
120,842
-
-
119,636
54,613
(10,845)
66,229
243,375
230,278
(97,230)
(73,288)
146,145
156,990
1
1
146,144
156,989
Hill Holt in the Community
Limited		 Total
Total
2024
2023
£
£
317,877
335,415
134,029
130,541
183,848
204,874
-
-
75,057
84,032
-
-
-
-
-
-
108,791
120,842
-
-
119,636
54,613
(10,845)
66,229
243,375
230,278
(97,230)
(73,288)
146,145
156,990
1
1
146,144
156,989
Hill Holt in the Community
Limited
204,874
-
84,032
-
-
-
120,842
-
54,613
66,229
230,278
(73,288)
156,990
1
156,989

Page 28