REPORT OF THE TRUSTEES AND FINANCIALSTATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2024 FOR THAMESIDE NATURE PARK LIMITED A REGISTERED CHARITY AND A COMPANY LIMITED BY GUARANTEE Registered Company Number 07151955 Registered Charity Number 1137142
THAMESIDE NATURE PARK LIMITED Index Index Company Information Report of the Trustees for the Year Ended 31 December 2024 Independent Auditors, Report to the Members of Thameside Nature Park Limited Statement of Income and Expenditure for the year ended 31st December 2024 Balance Sheet as at 31 December 2024 Notes to the Financial Statements for the year ended 31 December 2024 ACCOUNTING POLICIES INCOME FROM CHARITABLE ACTIVITIES 14 19 20 21 21 23 STAFF COSTS 24 24 25 25 25 EXPENDITURE AUDITORS, REMUNERATION RETIREMENT BENEFIT SCHEMES TANGIBLE FIXED ASSETS DEBTORS 26 CREDITORS 10. CONTIGENT LIABILITY 11. CAPITAL COMMITMENTS 12. ANALYSIS OF FUNDS 26 26 26 27 13. ANALYSIS OF NET ASSETS BETWEEN FUNDS 29 14. ULTIMATE PARENT COMPANY 15. COMPANY STATUS 16. RELATED PARTY TRANSACTIONS AND GROUP TRANSACTIONS AND BALANCES 17. PRIOR PERIOD STATEMENT OF FINANCIAL ACTIVITIES 29 29 29 30 Page 2
THAMESIDE NATURE PARK LIMITED Company Information DIREcfoRS: Boswell (name changed from S Howe 29/0112024- resigned 2210812024) Dagley Hazelhurst {resigned 2910512025) Holt Impey- Chair {resigned 05/02/2024) Pritchard Quill Yates- Chair (from 5/02/20241 REGISTERED OFFICE: Abbotts Hall Farm Great Wigborough Colchester Essex C057RZ REGISTERED COMPANY 07151955 (England and Wales) NUMBER: REGISTERED CHARITY 1137142 NUMBER: AUDITORS: Moore Kingston Smith Orbital House 20 Eastern Road Romford, Essex RMI 3PJ BANKERS: Barclays Bank PLC Chelmsford Business Centre 40-41 High Street Chelmsford Essex CMI IBE Page 3
THAMESIDE NATURE PARK LIMITED Report of the Trustees for the Year Ended 31 December 2024 The Board presents its report with the financial statements of the charity for the year ended 31st December 2024. STRucfuRE. GOVERNANCE AND mANAGEmEr Governing document Thameside Nature Park Limited is a company limited by guarantee governed by its Memorandum and Articles of Association. It is registered as a charity with the Charity Commission. Appointment of Trustees The Trustees are also Directors for the purpose of company law. The Chair of the Trustees is elected by the Board. There 15 provision for at least three Trustees one third of who are elected annually by the members of the charity at the Annual General Meeting (AGMI. The Trustees serve for a period of three years. The Trustees have the power to co-opt a member to fill a vacancy on the Board of Trustees that occurs between AGMS. The co-opted Trustee must however stand down or be nominated for election at the next AGM. All members are circulated with the names of nominated trustees prior to the AGM. Trustee induction and training New Trustees undergo a training programme that will brief them on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the decision- making processes and recent financial performance of the charity. During the induction, they meet key employees and other Trustees. The Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role. Page 4
THAMESIDE NATURE PARK LIMITED Trustees/Directors The directors during the year under review were: Boswell (name changed from S Howe 2910112024- resigned 2210812024) Dagley Hazelhurst {resigned 2910512025) Holt Impey- Chair {resigned 0510212024) Pritchard Quill Yates- Chair (from 5102/2024) Organisation The Board of Trustees is responsible for determining the strategic direction of the charity and for monitoring performance towards those set objectives. The Board meets on average 4 times per year. To facilitate effective operations the Chair has delegated authority, within terms of delegation approved by the Trustees, for operational matters including finance and employment. Related parties Thameside Nature Park Limited is a subsidiary of Essex Wildlife Trust Limited. Other subsidiaries of Essex Wildlife Trust Limited are: Essex Wildlife Sales Limited - The company exists to carryout retail sale of goods associated with the aims of Essex Wildlife Trust Limited at the Trust's centres throughout Essex. Essex Ecology Services Limited - The provision of advisory services relating to environmental matters. Chafford Gorges Limited - for the benefit of the public, to look after and further the conservation, maintenance and protection of the area known as Chafford Gorges Nature Park in Thurrock. Essex Wildlife Trust Limited is also a Corporate Trustee of the Veolia Pitsea Marshes and the Veolia Havering Riverside Maintenance Trusts from which it has also received grants for support of its environmental objectives. The ongoing involvement with these two organisations has ceased from 13th February 2024, when the last of the funds were distributed and the two charities were dissolved. Risk management The Trustees have a risk management strategy that comprises an annual review of the risks the charity may face and the establishment of systems and procedures to mitigate those risks identified in the review. They will also oversee the implementation of procedures designed to minimise any potential impact on the charity should those risks materialise. Generally, the risks faced by the charity consist of health and safety and land management issues related to the nature of the site as an ex-landfill site. These are explained further in the health and safety section on page 8. Page 5
THAMESIDE NATURE PARK LIMITED Fundraising Policy Thameside Nature Park Limited is a subsidiary of Essex Wildlife Trust Limited and follows their fundraising policy. Essex Wildlife Trust is accountable regarding its fundraising. Essex Wildlife Trust monitors fundraising activity through regular reports to the Board of Trustees, based on our budgetary and management accounts process and policy. All projects are approved and managed through the Strategic Leadership Team, with Board approval where appropriate. All of our projects and core fundraising contribute to Essex Wildlife Trust's strategy and overall vision - to have a county rich in wildlife with people connected to nature- with communities that value the countryside and that are inspired to help protect it. Essex Wildlife Trust has a complaints policy and the procedure for making complaints regarding our fundraising that can be found on our website, as a link under Essex Wildlife Trust's Fundraising Promise. Essex Wildlife Trust's policy regarding Vulnerable Adults and Treating Donors Fairly sets out how we expect our fundraisers to behave. Essex Wildlife Trust is respectful - we respect decisions not to make donations and to withdraw membership, we will contact our supporters and donors in the way that they request, we will respond to queries in an open, honest, courteous and professional way. We will acknowledge any complaint within five working days to let complainants know when they can expect a response. During the year we recorded no complaints12023 nil). Going Concern Having reviewed the companvs financial forecasts and expected future cashflows, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and for a period of at least 12 months following the approval of these financial statement5. Thus, the going concern basis has been adopted in preparing the financial statements for the year ended 31 December 2024. OBJEcfivES AND AcfiviTIES The objects of the charity are: For the benefit of the public, to look after and further the conservation, maintenance and protection of the area known as Thameside Nature Park adjacent to Mucking in Thurrock, which is leased from Enovert at a peppercorn rent. To advance the education of the public in the principles and practice of conservation, sustainable development and biodiversity within the Thameside Nature Park. Page 6
THAMESIDE NATURE PARK LIMITED Sustainable development is primarily defined as "Development that meets the needs of the present without compromising the ability of future generations to meet their own needs., (The Brundtland Commission). The strategies employed to achieve the charity's objectives are as follows: Ensuring that the Thameside Nature Park is a good example of conservation management where wildlife thrives. Physical management of the Thameside Nature Park through Action Plans that identify priority work. Reaching all ages, all abilities, and all communities. Raising their understanding of sustainable livin& what they can do for wildlife and what a good environment can do for them by advancing the interest and education of the public through activities in the Thameside Nature Park and the Visitor Centre situated within the Park. Making the Thameside Nature Park and Visitor Centre {which is leased to Essex Wildlife Trust) available to others who are involved in similar projects. Providing a supportive culture for both staff and volunteers. Maintaining a firm financial foundation. Undertaking or supportin8 Other essential work in relation to Access, Health and Safety, minimising anti-social behaviour and actions to address any issues in priority order. Each year the Trustees work with Ev¥ to ensure the strategic focus is relevant for the site, through setting the annual budget. Thameside Nature Park relies on regular annual grants received from the Mucking Charitable Trust, and donations from other sources to cover its operating costs. In shaping the objectives for the year and planning the activities, the Trustees have considered the Charity Commission's guidance on public benefit, including their guidance on fee charging. Free education is provided by Essex Wildlife Trust staff, using the facilities at Thameside Nature Park, covering topics linked to the objects of the charity. For those courses for which fees are levied, careful consideration is given to the accessibility to the courses by all members of the public. In these cases, it is often the case that the fees charged do not cover the full cost of the courses, the remainder being subsidised by the Essex Wildlife Trust as part of the core objectives of the charity. Thameside Nature Park is accessible to the public free of charge and on-going work is always mindful of improving that access for families with young children and the disabled, within the unique health and safety considerations for the site. Where possible and practical, free advice is also Eiven to members of the public who contact the charity. The charity is very dependent on the help of volunteers in all these activities. Currently, there is a growing band of volunteers who do a huge variety of valuable work on work parties, completing Page 7
THAMESIDE NATURE PARK LIMITED surveys and assisting with administration. The charity sub-lets an area of the ThamesTde Nature Park to Essex Wildlife Trust Limited who have erected a visitors, centre on the site for the use and benefit of all members of the public. The centre was generously funded by a range of funders including the Cory Environmental Trust in Thurrock, the Homes and Communities Agency- Parklands. the Hew Watt Charitable Trust, and several other sources of charitable appeals. Other buildings on the site, Crown Cottages, Red Barn and Brick Barn are leased by the charity from Enovert at a peppercorn rent. ACHIEVEMENTS AND PERFORMANCE Access for all Our Ranger staff (l Ranger, 0.6 Asst Ranger) continue to maintain the site in accordance with the management plan, as well as look for areas to develop and enhance the site for the benefit of wildlife and visitors. The team has responded to low levels of antisocial behaviour and damage. There has been the usual cutting of path verges and amenity area5. The area of land managed has not increased this year as hoped, a5 there are no further areas of land as yet ready to be handed over by Enovert. Health and Safety As in previous years, health and safety issues on an ex-landfill site are the most important considerations when we do any management work. Vehicle access has again been carefully controlled this year to ensure the landfill capping is not damaged and landfill material is not exposed. Ongoing monitoring of methane around the site is carried out by Enovert, and at the Centre we take occasional readings in the basement pods. We have had no issues this year with elevated methane levels. An annual tree safety survey was carried out. The identified works were carried out by our Rangers. The Rangers and volunteers continue to undertake regular checks around the lake. Signage about the dangers of swimming in the lakes is in place. Life buoys are present and are reinstalled if removed. Practical Conservation The site was grazed over winter from September 2023 to February 2024 at low density by at less than 0.75 livestock units per hectare, using the same local grazier (Froods of Corringham). Grazing will continue as a standard management practice, as this will improve the diversity of the Erassland species by controlling coarse grasses that could dominate the sward. The timing of grazing will be assessed year on year to optimize the approach. We do want areas of 'rank' grassland because this Page 8
THAMESIDE NATURE PARK LIMITED encourages the development of ant hills, that supports good populations of small mammals, an important food source for reptiles and species like barn owl and short eared owl. This mosaic of sward heights provides a variety of gra551and habitat that encourages greater species diversity. Only grazing can achieve this, unlike mechanical mowin& and this is going to be an essential management tool when we take on the remaining area of the site. Some areas of the park cannot be cut because of waste material that is on the surface, such as concrete and metal. We will inspect future lease areas in much more detail, to ensure that we take on land in a state that will allow it to be managed as required. A hay cut was taken again on the Coronation Meadow area to encourage diversity in the grassland species. These meadows were also subsequently grazed. Regular hay cuts will result in a reduction in fertility, which will result in a greater diversity of plant species. Surveyin8 indicates a significant increase in species variety in the Coronation Meadows. Plants will be affected by climate change. We are getting more extreme weather events, and this will influence which species will thrive or survive. The risks of fire in grassland with prolonged dry spe115 are a threat, not just to the grassland species, but to the whole site. We have maintained longer grassland habitat boarder scrub to maintain areas of cover for reptiles, mammals, and invertebrates. The scrub and bramble areas continue to increase and provide great habitat, but we need to manage them to maintain the cover and not expand at the expense of the grassland. Scrub and bramble have been managed to create a mosaic of different aged habitat to support different species. We have continued to manage the woodland (Henry's Shaw), with the aim of increasing dead wood habitat and open glades, this is important for specialist invertebrates. The historic translocation areas continue to be managed to ensure they are suitable habitats for the translocated reptiles. Natural degradation of reptile fencing has allowed dispersion of the population over the wider site. We have enhanced the short cut basking areas. The 2024 survey showed good numbers of slow worm, common lizard, grass snake, and adder across the site. Invasive species such as goat's rue were tackled again this year by means of mechanical cutting and chemical spraying; where possible digging out from the roots, though time consuming, is the most effective method. It is difficult to keep invasive species under control and minimise spread. They are a problem at the site; we will need to consider what is practical when we have the whole site to manage. We may have to accept that these invasive species are part of the ecology of the site and work with them or concentrate efforts in key areas. The site still supports good numbers of skylarks. Any grassland management needs to take their ground nesting habits into consideration. To protect the breeding territorie5 of the skylarks we have Page 9
THAMESIDE NATURE PARK LIMITED limited access to stop disturbance during the breeding season March - August. We enforce dogs on leads all year round to avoid confusion. as they are the biggest threats to nests. It is an ongoing issue for staff to educate the public. Breeding bird, butterfly and moth, reptile and bat and rapid grassland assessment surveys were carried out in house in 2024. Security is frequently reviewed and improved to counter the national prevalence of agricultural crime. Events and Education Through 2024 we have had a consistent and sustainable support for our preschool Nature Tots group and a home education group. School visits were regular, and bookings have increased for next year. Our full time Wilder Learning Officer (WLO) is supported by an area trainee intern and an increasing number of volunteers. The summer of 2024 saw a take up rate of nearly 600A across events representing a growth in volume and variety of events. FINANCIAL REVIEW OF THE CHARITY This funding of Thameside Nature Park Limited (TNP) is secured through the investment of an original fund of over £2.3m, which 15 under the control of Mucking Charitable Trust, to cover the length of the lease of Thameside Nature Park, which started in 2012 and covers a period of 99 years. In 2024 made funding contributions for the financial year of 2024 of £134,488. The funding received from MCT covers the management and maintenance of the site and is managed through a restricted fund in the accounts. TNP has additional income sources from Agricultural Grants, and has been in receipt of grants from National Highways to deliver additional project work on the site. Financial reserves policy Reserves are needed to provide sufficient funds to create a safeguard against unexpected costs that arise outside of usual budgeting processes and for the working capital requirements of the charity. The Reserves Policy has been updated during the year and identifies the level of reserves needed, whilst it is not usual to include restricted funds in this calculation, the funding stream for core work at Thameside Nature Park is accounted for within a restricted fund for the maintenance and management of the site and therefore forms part of the calculation for reserves. The minimum level of Reserves needed to ensure continuity of work underthe Management and Maintenance Grant from MCT has been calculated under the Reserrfes Policy to be £96K. This figure Page 10
THAMESIDE NATURE PARK LIMITED is calculated on a risk basis, to cover the timing of the payment of the Grant, working capital and any unpredicted spending needed for exceptional costs. The actual value at year end is calculated as the total value of the MCT Fund, which currently equates to £195K (2023: £94KI above the minimum level. The Unrestricted free reserves are calculated by deducting the value of designated funds, less amounts tied up as fixed assets from the total unrestricted funds of the charity. The calculated amount required under the reserves policy is £96K, the current actual level of free reserves is £209K 12023: £255K). These excess funds will be spent on future project5 developing the site as part of the overall vision and purpose for Thameside Nature Park. PLANS FOR FUTURE PERIODS The charity leases at a peppercorn rent, approximately 240 acres (97 hectares} of land from Enovert and we are continuing to negotiate transfers of further land, increasing our area of managed land, and increasing the areas accessible to the public. Transfer of Areas 5 and 6 is on hold due to an ongoing substantial reptile translocation project that Enovert is undertaking. Work has also begun, contracted by Enovert, to plant 37,000 trees and shrubs in an effort to kick start successional growth seen elsewhere on site. Enovert will install a new Nature Park entrance and road in this area at some point in the future. We have drawn up detailed plans of how we need the land to be. Some of this will be part of the agreed section 106 commitments. We have regular meetings with Enovert, at least every three months, and we are building a strong partnership. Work on the new site plan is progressing, a workshop to develop a 50-100 years vision for the habitat development of the site was held in Q3, findings are being formulated to enable a management plan to be written. Once the habitat plan is ratified a vision for the visitors can be put together, ensuring that Nature and Wildlife is at the heart of future plans. Maintaining the existing Nature Park We will continue regular maintenance of the habitats and infrastructure as set out by the site management plan. This will achieve benefits forthe important flora and fauna of the site and for people visiting the Nature Park. This involves looking after boundaries, paths, tracks, hides, buildings, and their security. Conservation Work We will continue to manage the grassland through grazing, cuttin& and haying, to create a diverse sward, controlling invasive species. We will continue to manage our translocation areas to provide optimum conditions. This will include adding logs and aggregate to hibernacula and planting thorny hedgerow shrubs to keep cattle from trampling piles. This will also improve the security of the site. We will manage the trees and scrub on site to create a mosaic of age structures that will support a diverse range of species. Page 11
THAMESIDE NATURE PARK LIMITED Access for all As we take on new leased areas, we will install way-marker posts to ensure that visitors can make the most of the newly accessible areas. We will continue to maintain the amenity areas around the site to encourage visitors to use the picnic and play areas. Plans are underway to install a new picnic area and car park facilities adjacent to Golden Gates Lake on site. Health and Safety This will continue to be a priority at the site. checks are programmed throughout the year in accordance with the Site Audit, the Operations Manual, and Risk assessment procedures. As a result of the 2023 Health and Safety Audit, the recommendations were implemented. Events We will work to engage with the public where possible through events. The Rangers will continue to lead a varied programme of walks throughout the year to ensure visitors leave the site with a better understanding of its ecological importance. The Rangers will continue to support the delivery of the Nature Discovery Centre events programme to encourage greater use of the site, particularly by our biggest customer group, the local community. STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees (who are also directors of Thameside Nature Park for the purposes of company lawl are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they 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 that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP 2019 (FRS 1021; make judgements and estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed 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 adequate 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 Page 12
THAMESIDE NATURE PARK LIMITED prevention and detection of fraud and other irregularities. In so far as the trustees are aware: there is no relevant audit information of which the charitable company's auditor is unaware; and 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. This report has been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS So far as the Trustees are aware, there is no relevant audit information of which the charitable company's auditors are unaware. Additionally, the trustees have taken all the necessary steps that they ought to have taken as trustees in order to make themselves aware of all relevant audit information and to establish that the charitable company's auditor5 are aware of that information. AUDITORS Following a review of audit Services at the end of 2024, Moore Kingston Smith LLP were appointed as auditors for the accounts of 2024, at the Emergency General Meeting of Essex Wildlife Trust in February 2025. In accordance with the company's articles, a resolution proposing that Moore Kingston Smith LLP be re-appointed as auditors will be put at a General Meeting. This report has been prepared in accordance with the provisions applicable to companies entitled to the small companie5 exemption. BY ORDER OF THE BOARD: R Yates- Chair Date: 3110712025 Page 13
THAMESIDE NATURE PARK LIMITED Independent Auditorfs Report to the Members of Thameside Nature Park Opinion We have audited the financial statements of Thameside Nature Park (the 'charitable company'l for the year ended 31 December 2024 which comprise the Statement of Income and Expenditure, the Balance Sheet, and notes to the financial statements, including 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 statement5: give a true and fair view of the state of the charitable companws affairs as at 31 December 2024, and of its 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 have been prepared in accordance with the requirements of the Companies Act 2006. 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 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 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. Page 14
THAMESIDE NATURE PARK LIMITED Other information The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except 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 there is 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. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the trustees, report for the financial year for which the financial statements are prepared is consistent with the financial statements; and the trustees, report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees, report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or the financial statements are not in agreement with the accounting records and returns; or certain disclosures of trustees, remuneration specified by law are not made. we have not received all the information and explanations we require for our audit; or the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemption in preparing the trustees, report and from the requirement to prepare a strategic report Page 15
THAMESIDE NATURE PARK LIMITED Responsibilities of dirertors As explained more fully in the trustees, responsibilities statement set out on page 13, the trustees 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 company's ability to continue as a going concern, disclosing, as applicable, matters related to 80ing concern and using the going concern basis of accounting unless the trustees either intend to liquidate the company or to. Auditor 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 auditorfs report that includes our opinion. Reasonable assurance 15 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 aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. As part of an audit in accordance with ISAS (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also: Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedure5 responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the company's internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of the trustees, use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to Page 16
THAMESIDE NATURE PARK LIMITED events or conditions that may cast significant doubt on the compan¢s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosure5 in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the company to cease to continue as a going concern. Evaluate the overall presentation. structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud 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. The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the company. Our approach was as follows: We obtained an understanding of the legal and regulatory requirements applicable to the company and considered that the most significant are the Companies Act 2006, Charities Act 2011, UK financial reporting standards as issued by the Financial Reporting Council, and UK taxation legislation. We obtained an understanding of how the company complies with these requirements by discussions with management and those charged with governance. We assessed the risk of material misstatement of the financial 5tatement5, including the risk Page 17
THAMESIDE NATURE PARK LIMITED of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance. We inquired of management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations. Based on this understanding, we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. This included making enquiries of management and those charged with governance and obtaining additional corroborative evidence as required. There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resultin8 from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. Use of our report This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken for no purpose other than to draw to the attention of the company's members those matters which we are required to include in an auditorfs report addressed to them. To the fullest extent permitted by law, we do not accept or assume responsibility to any party other than the company and company's members as a body, for our work, for this report, or forthe opinions we have formed. OL'a- ,& .Sal LLP Paul Springfield {Senior Statutory Auditor) for and on behalf of Moore Kingston Smith LLP, Statutory Auditor Orbital House 20 Eastern Road Romford, Essex RMI 3PJ 13 August 2025 Page 18
THAMESIDE NATURE PARK LIMITED Statement of Financial Activities including Income and Expenditure for the year st ended 31 December 2024 Unrestricted Funds Restricted Funds Total Funds Totsl Fund5 2023 2024 Notes INCOME Charitable Activities 2,703 361,127 363,830 303,814 Other 2,675 3,895 6.570 3,700 Total Income 5378 365,022 370,4(KI 307,514 EXPENDITURE Charitable Activities 13,199 146,716 159,915 135.141 Totsl Expenditure .199 146.716 159.915 135,141 NET INCOME 17,821) 218,306 210,485 172,373 Transfer between funds 1238.2551 238,255 NET MOVEMENT IN FUNDS (246,076) 456,561 210,485 172,373 Balance Brought forward at 520.692 144,193 664,885 492.512 1st January 2024 Balance carried forward at 315t December 2024 12 274.616 600,754 875,370 664,885 The Statement of financial activities indudes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 22 to 31 form part of these financial statements Page 19
THAMESIDE NATURE PARK LIMITED Balance Sheet as at 31 December 2024 Company registration number: 07151955 2024 2023 Note5 FIXED AsSs Tangible fixed assets 472.670 245,388 CURRENT ASS5 Debtors 361.195 387.053 Cash at bank and in hand 46.195 43,396 Total Current Assets 407.390 430,449 Liabilities Creditors.. Amounts falling due within one year (4.6901 {10.9521 NET CURRENT ASSErs 402,7(K) 419,497 TOTAL NET ASSETS 875370 664,885 CAPITAL AND RESERVES Unrestricted Funds 254.616 255.304 Designated Funds 20,(KK) 265,388 Restricted Funds 6(K).754 144,193 TOTAL FUNDS 12 875,370 664,885 These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. ON BEHALF OF THE BOARD: R Yates- Chair Date". 3110712025 J Dagley- Director 3110712025 Date: Approved and authorised for issue by the Board on The notes on pages 21 to 30 form part of these financial statements. Page 20
THAMESIDE NATURE PARK LIMITED Notes to the Financial Statements for the year ended 31 December 2024 I. ACCOUNTING POLICIES Company information Thameside Nature Park Limited is a limited company domiciled and incorporated in England and Wales. The registered office is Abbotts Hall Farm, Great Wigborough, Colchester, Essex, C05 7RZ. Accounting convention The financial statement5 have been prepared under the historical cost convention, with the exception of listed investments which are included at their market value. The financial statements have been prepared in accordance with the 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 effective l January 2019(The FRS 102 Charities SORPI, the Companies Act 2006 and Charities Act 2011. The financial statements are prepared in Sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound. The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below. Going concern Having reviewed the companvs financial forecasts and expected future cashflows, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and for a period of at least 12 months following the approval of these financial statement5. Thus, the going concern basis has been adopted in preparing the financial statements for the year ended 31 December 2024. Funds Unrestricted Funds are those which can be used for the general advancement of the objectives of Thameside Nature Park Limited. Designated Funds when shown are those designated for a specific purpose by the Trustees. Restricted Funds are those whereby the use is restricted by the donor. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. As part of an overall review of fixed asset classifications and depreciation rates the following rates have been updated to represent a more accurate reflection of the underlying assets. External works Vehicles & attachments IO% on cost p.a. 20% on cost p.a. Page 21
THAMESIDE NATURE PARK LIMITED Fixtures & fittings Plant & equipment Computer equipment Office equipment 20% on cost p.a. 20% on cost p. 33.33% on cost p.a. 33.33% on cost p.a. Assets under construction are included at cost value and are not depreciated until the point of completion is reached. Grants receivable All income is recognised once the charity has entitlement to income, it is probable that income will be received and the amount of income receivable can be measured reliably. Expenditure Expenditure is included in the Statement of Financial Activities (SOFA) on an accruals basis. Charitable expenditure comprises direct costs in the deliverance of its activities and services in view of the small size of the charity all support costs relate to this activity. Taxation The Charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categorie5 covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Cash and cash equivalents Cash and cash equivalents include cash in hand and deposits held at call with banks. Financial Instruments Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. CRITICALACCOUNTING ESTIMATES AND JUDGEMENTS Key sources of estimation uncertainty In the application of the charitable company's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. Page 22
THAMESIDE NATURE PARK LIMITED The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. Useful economic lives of tangible fixed assets The annual depreciation charge for tangible fixed assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investment5, economic utilisation and the physical condition of the assets. See note 7 for the carrying amount of the tangible fixed assets and note I for the useful economic lives for each class of asset. 2. INCOME FROM CHARITABLE AcfiviTIES Unrestricted Restricted Funds Funds Totsl Funds Unrestrirted Restrirted funds funds 2023 2023 Total Funds 2024 2024 2024 2023 Grants and donations received The Mucking Charitable Trust Agricultural Grants Donations 134,488 134.488 131,210 131,210 2,703 2,703 9,503 9,503 6.312 6.312 National Highways Grant SEEParks Grant 156,789 156,789 14,928 14.928 Golden Gales Grant 209,711 209,711 Coryion Grant Total 2,000 2.703 361.127 363,830 15,815 287,999 303,814 Golden Gates grant was given to develop the site around the Golden Gates Lake, include bird hides, picnic area and car park. SEEParks grant was given to a project connecting landscapes in south Essex from Coalhouse Fort to Fobbing Marshes. The project is a collaboration between adjoining land owners and Thurrock Council with the purpose of creating an accessible path through the Central Thames Marshes. Page 23
THAMESIDE NATURE PARK LIMITED 3. STAFF COSTS 2024 2023 Wages & Salaries Social Security costs Other pension costs Additional labour costs 65.130 55A43 6.008 4.667 2.686 2,798 1610) 62,298 73,824 No employee earned in excess of £60,000 in the year (2023.. none) The average number of employees during the year was 2.6 (2023.. 2.1). EXPENDITURE Unre5trirt ed Funds Restrirted Fund5 Total Unrestricted Restrirted Funds Funds Fund5 Total Fund5 2024 2024 2024 2023 2023 2023 Direct Costs Salaries & related costs 12,467 61.357 73.824 62.298 62.298 Other staff costs 569 569 821 821 Propety costs induding Crown Cottage Reserve maintenance and materials 6.418 6,418 4,324 4,324 12,278 12,278 13,663 13,663 Vehicle costs 6,411 6AII 814 814 Depreciation Total Direct Costs 732 40,433 41.165 183 34.311 34.494 13,199 127A66 140,665 183 116,231 116,414 Support costs Administration expenses Bank charges Professional Fees 292 292 1,154 146 1,300 106 50 50 3.478 3A78 1,119 1,119 Intercompany recharges Audit Fees 10.712 10.712 11.736 11.736 4,662 4,662 4,522 4,522 Total Support Costs 19.250 19,250 1,154 17,573 18,727 Total Expenditure 13,199 146.716 159,915 1,337 133,804 135,141 All support costs are in furtherance of the Charitable Activities. Governance costs included above amount to £4,662 {2023: £4,522). Page 24
THAMESIDE NATURE PARK LIMITED 5. AUDITORS, REMUNERATION 2024 2023 Fees payable to the company's auditors for the audit of the company's annual accounts Auditors, remuneration- {Moore Kingston Smith) Audit Auditors, remuneration- {Price Bailey) Audit 522 4,662 4,662 4,522 6. RETIREMENT BENEFIT SCHEMES The charitable company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund. The charge to profit and loss in respect of defined contribution schemes was £2,686 (2023: £2,798). The pension costs are allocated to direct costs. 7. TANGIBLE FIXED ASSESTS Extemal Works Plant and Equipment Vehicles and Attachments TOTAL COST At 1st January 2024 Additions 362,180 23,663 16,913 402,756 268,727 {1,3991 670,084 266.807 1,920 11,3991 17A34 Disposals At 31st December 2024 628,987 23.663 DEPRECIATION At 1st January 2024 Charge for year Disposals At 31st December 2024 139.865 5.281 12,222 157,368 33,607 4.310 3,248 11,1191 14,351 41.165 (1,119) 197,414 173,472 9,591 NET BOOK VALUE At 31st December 2024 At 31st December 2023 455,515 222,315 14,072 18,382 3,083 4,691 472,670 245,388 Page 25
THAMESIDE NATURE PARK LIMITED 8. DEBTORS 2024 2023 Amounts falling due within one year Amounts owed by Group Undertakings 342,509 373,852 Other debtors 18.686 361,195 13,201 387,053 2024 2023 CREDITORS Amounts falling due within one year Trade Creditors Other creditors 259 4,431 2,672 8,280 4,690 10,952 10. CONTIGENT LIABILITY The company is part of a group VAT registration and is therefore potentially liable for VAT liabilities of the other members of the VAT group, which consist of the parent company and its subsidiaries. As at 31 December 2024, the VAT liability of the group was £12,977 {2023: £18,108), Thameside Nature Park had a year end debtor balance of £3,56712023: £4,943). 11. CAPITAL COMMITMENTS At 31st December 2024, the charity had contracted capital commitments of £277,390 (2023:£nil) relating to the SEEParks project. Page 26
THAMESIDE NATURE PARK LIMITED 12. ANALYSIS OF FUNDS Balance 01 January 2024 Increases in Decreases in funds fijnds Balance 31 December 2024 2024 Transfers Unrestricted Funds Free reserves General fixed assets reserve Total Unrestricted Funds 255.304 5,378 112,4671 17321 (13,199) 138,9391 46,072 7,133 209,276 45.340 254,616 255,304 5.378 Desi nated Funds Opportunity reserve General fixes assets reserve MCT funded fixed assets National Highways funded fixed assets 20,000 7.133 91.419 20,000 17,1331 191,4191 146,836 265,388 1146,8361 {245,3881 Total Designated Funds 20,000 Restricted Funds MCT reserves 94.193 138,383 1103,7821 125.4571 15,3711 96,790 1209,7111 209,711 123,423 71,333 MCT funded fixed assets Golden Gates grant Golden Gates fixed assets Coryton grant SEEParks grant SEEParks fixed assets National Highways funded fixed assets 209,711 209,711 2,000 14,928 12,0001 15001 114,4281 14,428 14.428 114.9771 146,836 131,859 50,000 600,754 Road Repair Reserve Total Restricted Funds 50,000 144,193 365,022 1146,716) 238,255 Total Reserves 664,885 370,400 1159.915) 875,370 Page 27
THAMESIDE NATURE PARK LIMITED Restated balance 01 January 2023 2023 Increases Decreases Transfers Balance 31 December 2023 in fvnds in funds Unrestricted Funds Free reserves 307.467 16,315 11,1541 167,3241 255.304 Total Unrestricted Funds 307,467 16,315 11,154) {67,3241 255,304 Desi nated Funds Opportunity reserve General fixed assets reserve MCT funded fixed assets National Highways nded fixed assets 20,000 7,316 4,589 146,836 20,000 7,133 91.419 146.836 265,388 520,692 11831 86,830 Total Designated Funds Total Unrestricted Funds 86,830 394,297 1183) 11.337) 178,741 111,417 16,315 Restricted Funds MCT Reserves 59,276 131,210 1120,6511 24,358 11,061 1146.8361 94,193 50,000 Road repair reserve National Highways fixed assets 38,939 159,989 113.1531 Total Restricted Funds 98215 291,199 {133A041 (111,417) 144,193 Total Reserves 492.512 307.514 {135,141) 664,885 Unrestricted Funds are available for general allocation to Thameside Nature Park works and projects not covered by any specific restricted funds. Designated Funds are set and managed by the Trustees to allocate funds towards future work or a reas of activities. Opportunity Reserve allocation of funds readily available to investigate new ventures that might be explored during the year. The Mcf Restricted Fund repre5entS the balance of funds provided for the management and maintenance of the Nature Park. The funds are received through annual grant funding from Mucking Charitable Trust, who manage the long-term fund. Other Restricted Funds relate to grants received for specific projects on the site that support work that falls outside of the management and maintenance work covered by MCT funding. Page 28
THAMESIDE NATURE PARK LIMITED 13. ANALYSIS OF NEf ASSEfs BEfwEEN FUNDS 2024 Unrestricted 45,340 229.276 Restricted Total Tangible fixed assets Current assets Current liabilities 427.330 178,114 14,6901 472.670 407.390 14,6901 Total net assets 274,616 600,754 875.370 2023 Unrestricted 245,388 275,304 Restricted Total 245.388 430,449 110,952} 664,885 Tangible fixed assets Current assets Current liabilities Total net assets 155,145 {10.9521 144,193 520,692 14. ULTIMATE PARENT COMPANY The Trustees regard Essex Wildlife Trust Limited, a company {00638666) and charity1210065) registered in England and Wales, to be the ultimate parent company. The principal activity of Essex Wildlife Trust Limited is to advance, promote and further the conservation, maintenance and protection of nature reserves across the county of Essex. The smallest and largest group of undertakings for which group accounts have been drawn up is that headed by Essex Wildlife Trust Limited. Copies of the consolidated financial statements of Essex Wildlife Trust Limited are available from Abbotts Hall Farm, Great Wigborough, Colchester, Essex, C05 7RZ. 15. COMPANY STATUS The charity is a company limited by guarantee not having a share capital. In the event of the winding up, under the terms of the Memorandum of Association each member guarantees to contribute a sum not exceeding £10. 16. RELATED PARTYTRANSAcfioNS AND GROUP TRANSACTIONS AND BALANCES During the year charges of £10,712 (2023: £11,736) were made to the charity by Essex Wildlife Trust Limited, the parent charity. Included in debtors is £342,509 (2022: £373,852) due from Essex Wildlife Trust Limited. Page 29
THAMESIDE NATURE PARK LIMITED 17. PRIOR PERIOD STATEMENT OF FINANCIAL AcfiviTIES Unrestricted Funds Restricted Funds Total Funds 2023 Notes INCOME Charitable Activities 15.815 287,999 303,814 Investments Other 5(K) 3,200 3,7LXI Totsl Income 16.315 291.199 307.514 EXPENDITURE Charitable Activities 1.337 133,804 135,141 Totsl Expenditure 1.337 133 135,141 NET INCOME 14.978 157,395 172,373 Transfer between funds 111,417 1111,4171 NET MOVEMENT IN FUNDS 126.395 45.978 172.373 Balance Brought forward at 1st January 2023 Irestatedl Balance carried forw3rd at 31" December 2023 394,297 98,215 492,512 io 520.692 144.193 664,885 Page 30