## **Gasworks Dock Partnership** (A company limited by guarantee) Report and Financial Statements Year ended 31 January 2025 Charity number 1141523 Company number: 07135282 **Gasworks Dock Partnership (GDP)** **Report of the trustees for the year ended 31 January 2025** ## **CONTENTS** **Report of the Trustees Pages 2-12 Independent Auditor's Report Page 13-15 Statement of Financial Activities Page 16 Balance Sheet Page 17 Statement of Cash Flows Page 18 Notes to the Financial Statements Pages 19-28** 1 **Gasworks Dock Partnership (GDP)** **Report of the trustees for the year ended 31 January 2025** Charity Number 1141523 Company number: 07135282 Principal Office: Cody Dock, 11c South Crescent, London E16 **Directors and trustees** Chair: Marcus Mackenzie (Appointed Dec 2016) (Re-appointed Nov 2022) Company Secretary: Timothy Vaughan (Appointed April 2018, Re-appointed October 2021) Treasurer: David Asuni (Appointed Sept 2015, Re-appointed Nov 2022) Trustees: Martin Torres (Appointed April 2018, Re-appointed Nov 2022) Bianca Mawani (Appointed June 2016, Re-appointed October 2021) Oyetade Oyebode (Appointed 22nd March 2022) Chief Executive Officer: Simon Myers (Appointed Oct 2015) ## **Our advisers** Architects: Office for Crafted Architecture, Unit 2. Cody Dock, 11c South Crescent, London, E16 4TL Auditors: Goldwins Chartered Accountants, 75 Maygrove Road, London, NW6 2EG, United Kingdom CAF Bank Limited; 25 Kings Hill Avenue; Kings Hill; West Malling; Kent; ME19 4JQ 2 **Gasworks Dock Partnership (GDP)** **Report of the trustees for the year ended 31 January 2025** The trustees are pleased to present their annual report together with the financial statements of the charity for the year ended 31 January 2025 report and accounts for Companies Act. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and 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 second edition) - (Charities SORP FRS 102). ## **1.** It has been a positive year for the charity. Despite a challenging financial climate, all core revenue costs and programmed activities were successfully covered through a combination of grants, donations, in-kind support, and income from our social enterprise trading. As we celebrate our 13th year, our focus remains firmly on delivering our environmental, heritage, youth programme and arts programmes, while completing the capital projects outlined in our development masterplan. These initiatives will help ensure the longterm sustainability of our operations beyond the current period of grant funding. The following activity summary has been broken down into our key programmes and where applicable, their associated capital projects. ## **2. Climate Action Fund Urban Biodiversity** At the start of this reporting period, we successfully completed the first year of our **Climate Action Fund** programme, supported by the **National Lottery Community Fund** , and closed the year well into the final quarter of our second year. This work spans biodiversity monitoring and training through our community science programme, habitat creation and restoration through our volunteering programme, environmental education through our schools and youth programmes and inclusion through our public events and social prescribing programme. Participation rates in year two showed steady growth across all programme areas. To support this expansion, we were delighted to welcome two new staff members to our Biodiversity, Youth, and Education teams. The focus of this work continues to centre on engaging local communities and deepening their connection with our local urban biodiversity. Through community science initiatives, we are helping to build understanding of local ecosystems while supporting the future of the Lower Lea River through habitat r shaping future policy and development decisions across the tidal Lea catchment area. ## **2.1. Urban Ecology Community Science Programme** The last year has seen a significant increase in the delivery of our Urban Ecology programme and as a result we have now recorded 813 species through structured recording and 3,109 ad-hoc records on the iNaturalist platform. With the appointment of a second Biodiversity manager, we increased our capacity to deliver more public workshops, engagement with universities, and in-house botanical expertise. We have consolidated our learning from year one and are now confident that we have selected a meaningful set of target taxonomic groups that will provide robust data on the effects of changes to our local habitats. With a significant number of construction projects either underway or planned for the local area, we use this valuable data to inform our habitat restoration and are working with local authorities, property developers, and statutory agencies to produce a Lower River Lea Biodiversity Masterplan. 3 ## **Gasworks Dock Partnership (GDP)** ## **Report of the trustees for the year ended 31 January 2025** Our ambitions for the coming year are to develop and run a pilot Urban Ecology Traineeship to offer a structured learning programme. This is intended to upskill existing volunteers and engage a wider audience who may be interested in pathways into careers in urban ecology. The table below shows the level of participation from the public in our urban ecology programme during the reporting period. **----- Start of picture text -----**
Urban Ecology Programme Stats: Sessions Participants Participation Hours
Biodiversity Monitoring 100 703 2,915
Water Quality Testing 10 62 186
Habitat Restoration 43 362 2,174
Clean-ups & public path maintenance 8 320 1,280
Totals: 161 1,447 6,555
Approximately 62% of beneficiaries were residents of Newham
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## **2.2.** During the period to 31st January 2025, our School and Youth Programme successfully engaged a total of 2,332 young people, delivering over 6,272 hours of activities. Participants ranged in age from 7 to 25, reflecting the broad and inclusive reach of our work. A major highlight of this period was our involvement in the River of Hope Programme, delivered between January and March 2024 in collaboration with the Thames Festival Trust. This international arts-based learning initiative connects schools around the world through the study of rivers. Through creative exploration, young people were encouraged to reflect on the importance of protecting and sustaining their local natural environments. Our participation in this project significantly enhanced our visibility and partnerships with local schools, allowing us to establish valuable new connections. These relationships have since enabled us to deliver several additional school sessions throughout the summer term, broadening our educational impact. In addition to our school engagements, we also delivered 12 youth group workshops in collaboration with 5 different youth groups. Activities included birdbox making, zine creation, and a Nocturnal Creatures Night, where a local youth group were invited for a pizza night while exploring local wildlife through moth trapping and bat walks. Looking ahead to Year 3, our focus will be on strengthening and expanding both our Education and Youth Programmes. We aim to extend our reach across Newham and Tower Hamlets, re-running the River of Hope to deepen our school networks and laying the groundwork for our new Schools Programme launch. The table below shows the level of participation from schools, youth groups and young people with our environmental youth programme during the reporting period. **----- Start of picture text -----**
Stats: Sessions Participants Participation Hours
12 x Schools 43 1,656 4,734
5 x Youth Groups 12 676 1,538
Outreach Events 8 121 60.5
Volunteer Assistants 7 7 88
Totals: 2,460 6,420
Approximately 95% of beneficiaries were residents of Newham
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4 ## **Gasworks Dock Partnership (GDP)** **Report of the trustees for the year ended 31 January 2025** ## **2.3.** and number of socially prescribed referrals from occupational therapists, local authorities, GPs and community organisations. With increased demand and the funded programme almost running at capacity, the focus for our third year will be on looking at how we can create and sustain supported pathways into our wider programmes and increase capacity with administration and volunteer support for our Therapeutic Gardener. **Subco Trust** - 12 sessions were delivered for local Asian Elders in partnership with Subco Trust and contributions from V&A East between March and August. **Newham Adults with Learning Disabilities -** three blocks of sessions for adults were delivered between **Friday Watering Group -** a weekly watering group of volunteers from East London NHS Foundation Trust, Mental Health Unit. **Social Prescriptions -** one hundred 2.5 hour sessions were delivered over the course of the year. **Volunteers** - two volunteers were engaged to assist with delivery of sessions. The table below shows the level of participation from socially prescribed members of the public in our Therapeutic gardening programme during the reporting period. **----- Start of picture text -----**
Therapeutic Gardening Stats: Sessions Participants Participation Hours
Subco 12 49 30
Newham Adults with Learning Disabilities 23 171 57
Friday Watering Group 20 53 40
Social Prescriptions 100 100 250
Volunteers 15 7 37.5
Totals: 170 280 414.5
Approximately 80% of beneficiaries were residents of Newham
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## **3. Lighting Up the Lea** In March 2024 we commenced our three year **Lighting Up the Lea** heritage programme and new heritage pavilion capital build project funded by the **National Lottery Heritage Fund** . This work includes; the production of public exhibitions through our schools programme; quarterly heritage open days, artist commissions and collaborations through a new annual heritage programme; restoration of the historic lifeboat Frederick Kitchen; and the development of a new exhibition and activity space dedicated to the ## **3.1. Exhibitions and Creative Commissions** With the addition of the Heritage Fund support, 2024 was a bumper year for new exhibitions and programmed content. The year started with an outdoor exhibition of the 2024 Your River Lea photo competition winners, followed by the installation of a giant bamboo sculpture adorned with hundreds of Sound artist Jules Shapter, the London Festival for Architecture and our in-house heritage team, produced the first of three Cabinets of Curiosity that shone a light on the heritage of the Thames Ironsworks shipbuilding company. Working in collaboration with the V&A East collections team, we hosted a pilot workshop to engage local residents in the development of the brief for a new artist 5 ## **Gasworks Dock Partnership (GDP)** ## **Report of the trustees for the year ended 31 January 2025** commission called common threads that will be launched in 2025. At the close of the year we launched the open call for our second Cabinet of Curiosity artist commission that will run from April to September 2025. Over the course of this reporting period we estimate that over 80,000 people experienced at least one of our public exhibitions. ## **3.2. Open days** Each year we deliver 4 large open days which largely track the changing seasons and include contributions from each of our programme departments, workshops, performance, exhibitions, schools and therapeutic gardening activities. These open days are not only a major driver for new volunteer recruitment but also provide an opportunity to share and celebrate the diverse range of work that has been achieved in the past quarter. Overall attendance numbers were up on the previous year with over 5,000 visitors and 120 volunteers recorded across the four events ## **3.3. The Frederick Kitchen** In March 2024 we commenced our restoration of the Frederick Kitchen, thought to be the last boat to be made at the last great shipyard in London, with the purpose of preserving this important piece of local heritage. The eventual plan is to utilize the restored boat as the canopy of our new heritage pavilion. This work is being led by a small dedicated team of skilled shipwrights and crafts people and in our first year engaged 80 volunteers within the restoration process. Work has progressed on time and within budget with the aim of completion towards the end of 2025. ## **3.4. The Heritage Pavilion** In April 2024 we appointed the design and construction firm Nicholas Alexander as the lead contractor for our new heritage building which will be named the Boat House. Work on the construction of the building will commence in the summer of 2025 and is programmed to be completed in April 2026. ## **4. Community Ownership Funded capital projects** Gasworks Dock Partnership received confirmation on its successful application to the Department of Levelling Up, Housing and Communities Community Ownership Fund for £185,000 of capital funding and £50,000 of associated revenue funding to complete the fit-out of its community visitor centre and community due to the sudden announcement of the general election, funding was received in October 2024 and work commenced in the following month. Works are programmed to be completed towards the end of 2025. Over 540 volunteers have taken part in the delivery of these works during this reporting period. ## **5. Dock Restoration** The restoration of Cody Dock as a working dock with moorings and a boat yard is a core element of our rolling bridge and end of dock pilings already complete, the core focus has been on completing the remaining restoration of the dock walls. Over the course of the past year we have delivered 154 restoration sessions for 391 volunteers who have contributed 1,949 hours and it is estimated that at the current rate of progress the dock walls restoration programme will be completed by the end of 2026. 6 **Gasworks Dock Partnership (GDP)** **Report of the trustees for the year ended 31 January 2025** ## **6. Cody Dock Fundraising & Sustainability** ## **6.1. Fundraising** GDP has a number of delivery programmes and capital projects that were either underway during this reporting period or planned to commence in 2025. - The National Lottery Community Fund Climate Action Fund grant award for £1.3m over 5 years from 20th April 2023 - 19th April 2028. - Heritage Fund LUTL Delivery grant award for £1,676,097 over 3 years from 27th March 202426th March 2027. - Community Ownership Fund grant award for £335,000 over 12 months from October 2024 - September 2025 - Big Issue Invest Loan for £150,000 over two years from March 2024 to March 2026 - Garfield Weston grant award for £150,000 for construction of new studio spaces. - Aspers Casino £20,000 unrestricted grant award. - DPD Environmental grant award for £50,000. ## **6.2. Organisational Sustainability** Ensuring organisational sustainability and reducing our dependence on grant funding for core revenue costs remains a key priority. Our focus over the coming years is to further develop our social enterprise activity, through the rental of our workshop studios, new venues, corporate volunteering programme and increased income from our riverside bar and public events. review of our Fundraising Strategy is scheduled for 2025. While our current financial position is stable, and the longer-term outlook is strengthened by projected growth in social enterprise income, we recognise the importance of securing additional revenue grant funding for 2026 ~~2~~ 028 to support operations as these enterprise streams become fully established. 7 **Gasworks Dock Partnership (GDP) Report of the trustees for the year ended 31 January 2025** ## **7. Our purposes and activities** ## **7.1. Charitable Objects** The charity's Objects remain unchanged: - The advancement of education, training or retraining, particularly among unemployed people, and providing unemployed people with work experience, - the creation of training and employment opportunities by the provision of workspace, buildings and/or land for use on favourable terms, - the maintenance, improvement or provision of public amenities, - the education of the public about the history of the area by the creation of an industrial heritage archive and museum, - the provision or assistance in the provision of recreational facilities for the public at large and/or those who, by reasons of their youth, age, infirmity or disablement, poverty or social and economic circumstances, have need of such facilities, - the promotion of the arts and of crafts and craftsmanship and the advancement of education, - the promotion of the conservation, protection and enhancement of the physical and natural environment, particularly but not exclusively in ways that further sustainable development, - the education of the public about ecology, conservation, environmental studies and waterways and the ecology of the local area surrounding Cody Dock and to promote the stu - And other means as may from time to time be determined and which are exclusively charitable. ## **7.2. Vision** Our vision continues to be the provision of a pedestrian gateway to the existing Lower Lea River footpaths and operating Cody Dock as a flagship center for community, environmental learning, heritage and arts. As part of our mission to transform Cody Dock into a sustainable and flourishing cultural quarter we are continuing our work to develop new moorings, workshop studio spaces and a community venue that will provide GDP with a sustainable income that will enable our charity to continue delivering its more general aims. Our overall vision continues to be the nurturing of places that have the capacity to inspire and enable healthier more sustainable communities to emerge and grow. GDP also has a more general aim of promoting greater participation within the arts and promoting greater engagement with our natural ecology, waterways and industrial heritage. guidance on public benefit, including the guidance on public benefit and fee charging. We continue to give careful consideration to the accessibility of our public, community and event spaces when setting the levels of fees and charges so as to ensure that those on low incomes are able to access our services. 8 **Gasworks Dock Partnership (GDP) Report of the trustees for the year ended 31 January 2025** ## **7.3. Strategy** - The delivery of a broad range of educational, participatory and volunteer activities and events that engage our local communities and enable us to continue to respond to their needs within our development. - The offering of a broad range of opportunities for people and organisations to co-produce environmental and educational activities at Cody Dock. - The giving of opportunities to groups in the borough at discounted rates for hire. - The celebration of the diversity of cultures in our local community by programming presentations by, and with, artists of different cultural backgrounds and at times that are open and inclusive whilst focusing on having a particular significance to different religious or Putting these strategies into action we have five areas of activity which are the: - Delivery of our master plan that provides the framework for delivering our social enterprise business plan. - Creation of volunteer opportunities that enable people to engage with the development of Cody Dock. Delivery of public events, workshops and training days. - Support of schools and local community groups in delivering their own projects at Cody Dock. - Provision of public space and facilities at Cody Dock that enable access to and the enjoyment of the Lower Lea River and Cody Wilds footpaths. Our broad strategy aims to involve as many local residents, community groups and businesses in the revitalisation of Cody Dock so that they have an increased sense of ownership and help to shape a positive future for the Lower Lea Valley. ## **7.4. Partnerships** We have continued to support and nurture partnerships with other local groups that share our values: - The Royal Horticultural Society - Thames 21 and Love the Lea - Totally Thames - Newham Council - V&A East - Westminster University - SUBCO - Rosetta Arts - The Line Art Trail - London National Park City 9 **Gasworks Dock Partnership (GDP) Report of the trustees for the year ended 31 January 2025** ## **7.5. Our Volunteers** together and enables strong dynamic communities to emerge and grow. To this end, GDP has deliberately chosen to implement a great deal of its projects with volunteers. These volunteers come from a great variety of places and include local residents, students, charities and local businesses. Across all our programmes, we have worked with a total of 3,372 volunteers who catered for over 100,000 visitors during our 14th year of activities. ## **7.6. Our values as an organisation** We seek to respect the diverse ethnic, faith, sexual orientation and lifestyles of our community and stakeholders. As an organisation we try to be: ## **Ambitious** ## **Creative** - **Inclusive** ## **Considered** ## **Signed:** ## **Simon Myers Chief Executive Gasworks Dock Partnership** ## **24 October 2025** 10 **Gasworks Dock Partnership (GDP) Report of the trustees for the year ended 31 January 2025** ## Fi **nancial review** Results for the year ended 31 January 2025 are given in the Statement of Financial Activities. The assets and liabilities are given in the Balance Sheet. The financial statements should be read in conjunction with the related notes. GDP continues to be heavily reliant on grants and donations for its funding. Our restricted income for the financial year was £1,120,728 (2024 £511,061), this funded a very significant proportion of the net cash flows for investing activities of £149,013 (2024 £125,719) in the financial year. Unrestricted income for the financial year was £183,893 (2024 £141,192), however unrestricted expenditure was £159,480 (2024 £190,463) resulting in unrestricted income surplus of £24,413 (2024 deficit of £49,271) for the financial year ended 31 January 2025. Thus, as those fixed asset additions that are funded by restricted income are transferred to unrestricted reserves, positive unrestricted reserves are entirely invested in the designated fixed assets of £1,910,418 (2024 £1,870,683). This shows that the charity is successfully putting in place the infrastructure essential to sustainable delivery of its purpose (See Note 13 of the financial statements); however, after accounting for fixed assets, the charity has small positive unrestricted reserves of £15,010 (2024 deficit of £118,664). The financial statements have been prepared on a going concern basis. ## **Reserves policy** GDP aims to maintain unrestricted free reserves equivalent to 3 months of running costs. As noted above, substantial facilities development work has been and continues to be delivered which has created vital fixed assets for the charity and is reflected in a sound total unrestricted reserves position referred to above. However, the charity currently has an unrestricted free reserves deficit, and GDP therefore has not met its unrestricted free reserves policy. While the capital projects build-out is being undertaken, much of the core work of the charity is directed towards such projects and consequently the costs of such core work are substantially covered by grant funding over the next two years, thereby supporting GDP as a going concern. GDP is working to ensure that it builds towards its unrestricted free reserve policy level via income generation from social enterprise activities in the coming years. ## **Plans for the future** Looking forward to the financial year 2025-6, the charity is focusing its attention on the following objectives: Delivering climate action programme funded by the National Lottery. programme funded Heritage Lottery. Deliver and expand programme of therapeutic and social prescribing opportunities to be delivered within the Development of the business plan for further moorings and studios and raising the capital to finance phase two Continue to develop social enterprise income to enable future sustainability. ## **Structure, Governance and Management** Gasworks Dock Partnership is a company limited by guarantee governed by its Memorandum and Articles of Association dated the 22nd January 2010 and is registered as a charity with the Charity Commission. 11 **Gasworks Dock Partnership (GDP) Report of the trustees for the year ended 31 January 2025** ## **Appointment of trustees** There were no new appointments to the board during this financial year. ## **Organisation** The board of trustees, which can have up to 15 members, provides governance and oversees the administration of the charity. The board currently meets approximately every six weeks. A Chief Executive is appointed by the trustees to manage the day-to-day operations of the charity. To facilitate effective operations, the Chief Executive has delegated authority, within terms of delegation approved by the trustees, for operational matters including finance, employment and artistic performance related activity. ## **Related Parties** ## **N/A Risk** ## **management** The trustees have a risk management strategy and conduct a quarterly review of the risks the charity may face. This work has identified that financial sustainability continues to be the major financial risk and securing further core funding is going to be essential for the successful development of the social enterprises to ensure the sustainability of the charity and the delivery of its charitable aims and objectives. ## **responsibilities in relation to the financial statements** The charity trustees (who are also the directors of the Gasworks Dock Partnership for the purposes of company law) are responsible for preparing a annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law and the law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing the 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; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures - disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. 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. They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. The annual report has been approved by the Trustees on 24 October 2025 and signed on their behalf by Marcus Mackenzie Chair Company registration number 07135282 12 **Independent Auditor s Report To the members of Gasworks Dock Partnership** ## **Opinion** We have audited the financial statements of Gasworks Dock Partnership for the year ended 31 January 2025 which comprise the Statement of Financial Activities, the Balance Sheet, statement of cash flows and the related notes. 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). ## **Opinion on financial statements** In our opinion the financial statements: - 31 January 2025 and of - 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 responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the bilities 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 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 charity'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 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. In connection with our audit of the financial statements, 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 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 or a material misstatement of the other information. 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. 13 **Independent Auditor s Report To the members of Gasworks Dock Partnership** ## **Opinion on other matter prescribed by the Companies Act 2006** In our opinion, based on the work undertaken in the course of the audit: - for which the financial statements are prepared is consistent with the financial statements; and s 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 Charity and its environment obtained in the course of 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 - we have not received all the information and explanations we require for our audit. ## **Responsibilities of the trustees** 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 they 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 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 Charity or to cease operations, or have no realistic alternative but to do so. ## **Our responsibilities for the audit of the financial statements** Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are 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. 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 are set out below. In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following: - We enquired of management, which included obtaining and reviewing supporting documentation, concerning the charity's policies and procedures relating to: - identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance; 14 **Independent Auditor s Report To the members of Gasworks Dock Partnership** - Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud; - The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations. We inspected the minutes of meetings of those charged with governance. - We obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on those laws and regulations that had a material effect on the financial statements or that had a fundamental effect on the operations of the charity from our professional and sector experience. - We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations. - We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud. - In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business. A further description of our responsibilities for the audit of the financial statements is located on the Financial ## **Use of our report** This report is made solely to the charitable compan Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other or for the opinions we have formed. 28 October 2025 **Anthony Epton (Senior Statutory Auditor) for and on behalf of Goldwins Limited Statutory Auditor Chartered Accountants 75 Maygrove Road West Hampstead London NW6 2EG** 15 Gasworks Dock Partnership Statement of Financial Activities Ilncorporating and Income and Expenditure Account) Forthe Year Ended 31 January 2025 Unrestricted funds Restricted funds Note 2025 Total 2024 Total Income from: Donations & Grants 25,492 1,120,728 1,146,220 518,187 Charitable Activities 158,401 158,401 134,066 Total income 183 893 1120 728 1 304 621 652 253 Ex enditure on: Fundraising Charitable activities 159,480 649,851 809,331 638,426 Total expenditure 159 480 649 851 809 331 638 426 Net income I lexpenditure} for the year 24,413 470,877 495,290 13,827 Fund transfers 148,996 1148,9961 321,881 Net movement in funds 173.409 495,290 13,827 Reconciliation of funds: Totsl funds brought fonNard Designated Funds-Fixed Assets BIF 15 1118,6641 1,870,683 74,534 (44,1301 1,870,683 141,5161 1,854,242 Total funds tarried forward 1,925,428 396,415 2,321,843 1,826,553 All of the above results are derived from continuing activib'es. There were no other recognised gains or losses other than those staled above. The attached notes form part of these financial statements. 16 Gasworks Dock Partnership Balance Sheet As at 31 January 2025 Note 2025 2024 Tangible fixed assets 1,910,418 1,870,683 Current assets- Debtors stock Cash al bank and in hand 10 53,108 816 563,776 617.700 37,985 2,835 40,820 Credltors: amounts falllng due within one year 11 129,9771 148,8771 NET CURRENT ASSETS 587,723 {8,0571 TOTAL ASSETS LESS CURRENT LIABILITIES 2,498,141 1,862,626 Creditors- Amounts Falling Due After More Than One Year 12 1176,2981 136,0731 Net assets 13 2.321,843 1,826,553 Funds Designated Funds-Fixed Assets Unrestricted Funds Total Unrestricted Funds 1,910,418 15,010 1,925,428 1,870,683 {118.6641 1,752,019 Restricted Funds 396,415 74,534 Total funds 15 2,321,843 1,826.553 The financial statements have been prepared In accordance wth the special provisions for small companies of the Companies Act 2006. Approved by the Trustees Board on.. 28 October.2025 and signed on ils behalf by.. Marcus Mackenzie- Chair Chairman and Treasurer, Trustees Board Company Registration Number 07135282 The attached notes form part of the financial statements. 17 Gasworks Dock Partnership Statement of cash flows For the Year Ended 31 January 2025 Note 2025 2025 2024 2024 Cash flows from operating activities: Net cash provided by I (used inl operating activities 16 569,275 120,234 Cash flows from inve8ting activities.. Net Cash Flows from Investing Activities -Fixed Assets {149,013) {125,719) Cash providgd by I Iusgd in) invosting activities (149,013) (125,719) Cash flows from financing activities: Repayments of borrowing Borrowings 19,321) 150,000 19,364) Cash provlded by I (used In) flnanclng actlvltles 140,679 (9,364) Change in cash and cash gquivalants in tha yaar 560,941 {14,849) Cash and cash equivalents at the beginning of the year 2,835 17,684 Cash and cash oquivalonts at the ond of tho yoar 563,776 2,835 18 Gasworks Dock Parti Notes to the financial statements For the Year Ended 31 January 2025 Accounting policies Basis of preparation The financial statements have been prepared in accordance with Accounting and Reports'ng 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 IFRS 102} - (Charities SORP FRS 102 second edition) and the Companies Act 2006. The charitable company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise slated in the relevant accounting policy or note. Going concern At the lime of approving the financial statements the directors have a reasonable expectation that the company has adequate resources lo conts'nue in operational existence for the foreseeable future. From the year ending January 2025, Gasworks Dock Partnership IGDPI has increased sustainable income from additional community studio lets and is further underpinned by increased volunteer activity. In addition, community response funding, additional awards of capital funding, and the flexibility offered by GDP'S existing funders, has allowed GDP to continue to develop and lo provide support and facilities lo the community during this challenging time. The cash flow forecast for the next 12 months, from the date of appmval of the financial statements, indicates that GDP will have sufficient cash assets In place to meet ils debts as and when they are due. The directors are satisfied that GDP is able lo meet ils working capital liabilities through the management of the normal cyclical nature of receipts and payments. The directors continue to adopt the going concern basis of accounting in preparing the financial stslements. Income Income is recognised when the charity has entillemenl lo the funds, any performance conditions attached lo the income have been met, it is probable that the income will be received and that the amount can be measured reliably. Income from government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement lo the funds, any performance conditions allached to the grants have been met, it is probable that the income will be received and the amount can be Measured reliably and is not deferred. Income received in advance for the provision of specified service is deferred until the criteria for Income recognition are meL Donations of gifts, services and facilities Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the servi￿, any conditions associated with the donation have been mel, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be me8sured reliably. In accordance with the Charities SORP IFRS 1021, volunteer time is not recognised so refer to the trustees, annual report for more information about their contribution. On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing lo pay lo obtain services or facilities of equivalent economic benefit on the open market,. a corresponding amount is then recognised in expenditure in the period of receipt. 19 Gasworks Dock Parti Notes to the financial statements For the Year Ended 31 January 2025 Accounting policies Icontinuedl Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity", this is normally upon notification of the interest paid or payable by the bank. Fund accounting Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion lo set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are lo be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity. Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment lo a third paty, il is probable that selllemenl will be required and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. Expenditure is classified under the following activity headings.. Costs of raising funds comprise of trading costs and the costs incurred by the charitable company in inducing third parties lo make voluntary contributions lo it, as well as the cost of any activities with a fundraising purpose. Expenditure on eharilable activities includes the costs of delivering services and other activities undertaken to further the purposes of the charity and their associated support costs. Allocation of support costs Support Costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs Include back office costs, finance, personnel, payroll and governance costs which support the charity and its and activities. These costs have been allocated be￿een cost of raising funds and expenditure on charitable activities. Tangible fixed assets Items of equipment are capitslised where the purchase pri￿ exceeds £1,000. Depreciation is provided at rates calculated lo write down the cost of each asset lo ils eslimaled residual value over ils expected useful life. The depreciation rates in use are as follows.. Boat 50 years Dock works 20 years Buildings 10 years Office equipment 3- 4 Years Tools & equipment 3- 4 Years Debtors Trade and other debtors are recognised at the settlement amount due. Prepayments are valued al the amount prepaid nel of any trade discounts due. Trade debtors are adjusted for bad debt provisions Cash at bank and in hand Cash al bank and cash in hand includes cash and short temi highly liquid investments with a short maturity of three months or less from the dale of acquisition or opening of the deposit or similar account. 20 Gasworks Dock Parti Notes to the financial statements For the Year Ended 31 January 2025 Accounting policies Icontinuedl Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial inslrumenls. Basic financial instruments are initially recognised al transaction value and subsequently measured al their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Penslons The pension scheme in operation is compliant for auto enrolment purposes and all staff eligible have been registered. Detalled comparatlves for the statement of flnanclal actlvltles Unrestricted funds Restricted funds 2024 Total Income from: Donations & Grants 7,126 511,061 518,187 Charitable Activities Total income 134,066 141,192 134.066 652,253 511,061 Ex enditure on: Fundraising Charitable activities 190,463 447,963 638,426 Total expenditure 190.463 447.963 638.426 Net income I lexpenditurel for the year Transfers between funds 149.2711 42,412 63,098 142,4121 13.827 Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried fonyard {6.8591 20,686 13.827 1,758,878 1,752.019 53,848 74,534 1.812.726 1,826.553 21 Gasworks Dock Partnership Notes to the financial statements For the Year Ended 31 January 2025 Income from donations 2025 Total 2024 Total Unrestrieted Restrieted Donations Grants 25,492 25.492 1,120,728 1,146.220 7,787 510,400 518,187 1,120,728 1,120,728 25,492 Income from charitable activities 2025 Total 2024 Total Unrestricted Restricted Dock Income Events Income Other Income Total 90,380 67,046 975 158,401 90,380 67.046 975 158,401 76,908 49,637 7,521 134,066 22 Gasworks Dock Partnership Notes to the financial statements For the Year Ended 31 January 2025 Analysi$ of expgnditure 2025 Cost of Basis of raising Charitable allocation funds activities Support Governanctr costs Costs 2025 2024 Stsff costs Direct 314,396 18,769 333,165 259.S02 Direct costs Direct 471,666 4,500 476,166 378,824 Support costs Slatf time 786.062 18,769 4,500 809,331 638,428 Support costs allocation 23,269 118,7691 14,5001 Total 9X￿ndItur￿ 2025 809,331 809,331 638,426 Totsl expenditure 2024 638,426 638.426 Of the total expenditure, £159,480 was unrestricted {2024.' £190,463) and £649,851 was restricted12024.' £447,963) Analysis of expenditure 2024 Cost of Basls of raising Charltabl8 allocation funds activities Support Govarnane costs Costs 2024 Stsff costs Direct 244.775 14,827 259,602 Direct costs Direct 374,324 4,500 378,824 Support costs Staff time 619.099 14.827 4,500 638,426 Support costs allocation 19,327 114,8271 {4,5001 Total 9x￿nditUr& 2024 638.426 638,426 23 Gasworks Dock Partnership Notes to the financial statements For the Year Ended 31 January 2025 Net incomellexpenditurel for the year This is staled after charging.. 2025 2024 Depreciation Audit fee (excluding VATI 109.278 3,750 109,278 3,750 Taxation The charitable Company is exempl from corporation lax as all ils income is charitable and is applied for charitable purposes. Analysis of staff costs. trustee remuneration and expenses. and the cost of key management personnel 2025 2024 Salaries and wages Social security costs Pension costs 307,348 20,599 5,218 333.165 239,712 15,273 4,617 259,602 No employee received remuneration in excess of £60,000 in the year12024". one). The total employee benefits including pension contributions of the key management personnel were £52,25112024'. £49,6421 The charity trustees were not paid or received any other benefits from employment with the Charity in the year 12024". £nill neither were they reimbursed expenses during the year 12024 £nill. No charity Iruslee received payment for professional or other servi￿$ supplied to the charity12024. £nill- The average number of employees (head count based on number of staff employed) during the year was as follows. 2025 No. 2024 No. Average Number of Staff Employed 12 12 24 Gasworks Dock Partnership Notes to the financial statements For the Year Ended 31 January 2025 Tangible fixed assets Dock Equipmenvs tudiosl Tools & 8oats Restoratlon Equipment Total Cost: At 1 February 2024 Additions At 31 January 2025 199,380 1,956,106 148,996 2,105,102 25,882 2,181,368 17 149.013 25,899 2.330,381 199,380 Depreciation: At 1 February 2024 Charges in year At 31 January 2025 27,934 3,988 31,922 256,869 105,290 362,159 25,882 310,685 109,278 419.963 25,882 Net Book Value- At 31 January 2025 167,458 1,742,943 17 1,910,418 At 31 January 2024 171,448 1,699,237 1,870,683 al All tsngible fixed assets are used to fulfil the charity's objects. Assets constructed and incomplete at the year end are not depreciated until they come into use. Incomplete assetS'. 2025.. £531,06212024.' £382,066) 10. Debtors 2025 2024 Trade Debtor5 nel of bad debt provision Prepayments & Accrued Income 12,414 40,694 53.108 13,979 24,006 37,985 11. Creditors: amounts falling due within one year 2025 2024 Trade Creditors Taxation and Social Security Accruals and Deferred Income Other Creditors Loans 7,312 1.183 8,841 2.049 10,592 29,977 26,738 5,733 4,500 1,768 10,138 48,877 12 Creditors: amounts falling due after one year 2025 2024 Loans 176.298 176.298 36,073 36,073 25 Gasworks Dock Partnership Notes to the financial statements Forthe Year Ended 31 January 2025 13 Analysi5 of net as5et5 between funds. 2025 Restrictod funds General funds Total funds Tangible fixed assets Net Current A8set8 ILiabiliti881 Long Tem Liabilrt￿8 1,910,418 191,308 1176,2981 1,910,416 587,723 1176,2981 396,415 396.415 1925,428 2 321 843 Analysis of n8t as8et8 betsveen funds- 2024 Restricted funds Cen8ral fund Total fund8 Tangible fixed assets 1.870.683 182.5911 136,0731 1,870,683 18,0571 136,0731 74.534 Long Tem Liabilit￿8 1 752019 1 826 553 14 Pension scheme The pension $thÈme in operation 1$ tomplianl for auto enrolmènt putposÈs and all stafF eligible arÈ registered. Pension Gonlribulions owed as al 31.01.25 £1.22612024 £8691. 15 Movement In fund$ 2025 At31 January 2025 At l February 2024 Incoming $ourGes Outgoing ourGes Transfer Asset Tran$fers ResirictÈd Funds.. Community Fund ITNLCFI DHLUC City of London Heritage Fund ITNLHFI L.B. Newham Big Issue Invest GarField Weston Foundation Tudor Trust Cockayne Foundation Climate Action Fund ICAFI Other restrirted funds Total restrltted funds 207.100 335.000 37.500 306.080 1185,2171 121,6731 145.8011 1321.7601 15431 21,883 164,331 7,286 13,0921 I148,9￿) 15.587 12.588 543 10,125 15.075 150.000 112,5081 152,569 6.514 16.2301 134,7281 344 1649,8511 284 320 52,835 396,416 35.048 50.000 1,120,729 2,491 74,534 1148,9961 Designated fund5'. Fixed assets Totsl designated funds General fund 1.870.683 1,870,683 1118.6641 1109.2611 1109,2611 150,2191 148,996 148,996 1,910,418 1,910,418 15,009 183.892 Total unrestricted funds 1,752,019 183,892 1159,4801 148,996 1,925,427 Total Funds 1,826,553 1,304,621 1809,3311 2,321,843 26 Gaswork5 Dock Partnership Notes to the financial 5t*erner For the Year Ended 31 January 2025 15 Movement in funds continued Reslrirted Funds Community Fund ITNLCFI What Used for GDP was awarded four years of Reaching Communities IRC21 funding from the Comrnunity Fund for it5 vdunleer program which concluded in March 2023 ¥nd was fortunate enough to secure a further £1.2m over 5 years through the National Lollery Community Fund's Climate Action Fund ICAFI which started in April 2023. This funding is primarily for the salaries necessary to deliver our community environmental citken saence and 8chools programs, core admin18tration, freel8ne8 workshop and therapeutic gardening activrty managers and associated administr8tion and project running costs. Community Ownership Fund ICOFF Capital funding toward8 the construction of Cody Dock's community visitor centre, landscaping DHLUC and kilch8n. Th888 fund8d works were comple18d in Dec&mber 2023. GDP applied lo the Community Ownership Fund for an additional £285k of capital funding and £50k of ￿VenUe funding to complet& the fitout of the community tenlre and associated 18ndscaping of the adiatenl public rÈalm and construction of a small community kitchen. The applitalion was $uttsssful and works will tomtnente in April 2024 till Septembpr 2025. Thè disbursement was temporarily ddayed and work GommenGed in the ￿st guarter. City of London Grant The City of London has provided core funding toward5 the salary. Heri18ge Fund ITNLHFI Devdopmenl grant funding lo aid the submission of a delivery grant application in November 2023. The project induded the feasibility. design and project planning for a 3 year capital build and heritage programming project that was successfully Swarded in April 2024. Big Issue Invest Are a longsl8nding 5UPPQrter of GDP both in term5 Qf grant funding. sooal enterprise finan and professional support. GDP completed its final repayment of a loan from Bll in February 2024 th¥1 was use(1 to restore the DocklaD(Is Community Bo¥1 and in april 2024 took out new loan of £150k to provide cashflow for a new capital project to construct a small museum and exhibition space that 18 fully funded by the National Lollery Heritage Fund. Garfiekl Weston Foundation Subs&quent to IhÈ tompl&tion of the previous year's funding, thè Foundation awarded a new apital grant lo support the developtnent of the studio building. TudorTmst Core funding to cover salaries ovÈr three years towards Gasworks Dock Partnerships worft on wid&r inclusion wthin its vdunleer program and developing social prescribing at Cody Dock. Cocaayn8 Foundation For the delivery of a new environmental arts cornmission under the program lille of Lighting Up the Lea. The project consi8ted of parts, firstly an artist in residency opportunrty which started in November 2023, followed by the Insl8118tion of an exhibition which ran from April 2024 lill Jun8 2024. Climate A¢tion Fund ICAFI started In April 2023. This funding is primarily for the salaries necessary to deliver our community ènvironmental eit￿eTh scienc& and schools programs, core 8dministration, freelance workshop and therapeutic gardening activity managers and associated admini$trttion and proje¢t running costs. DPD UK fund8d £50,000 from the company's Eco Fund to G88works Dock Partnership in support of the Cody Dock Habitat R88toration Proi8d. conlribuling to th8 Creation of Kingf18h8r and Sand Martin habitats and n&8ting sltes as part of ongoing environmental and biodhiersily Iniliativ&s. ThÈ payment was mad& In November 2024. other ￿strICted funds- DPD Capital &xp&nditure funded from restricted income Is transferred to unrestricted funds as the restriction is considered to have ￿en 27 Gaswork5 Dock Partnership Note5 to the financial Statements For the Year Ended 31 January 2025 15 Movement in funds continued Movement In funds 2024 Iprlor yearl At31 January 2024 At 1 Fobruary 2023 Incomlng re8OLifco5 Outgolng resources Tran8f8r A888t Transfers Restricted Funds.. Cornmunity Fund ITNLCFI Veoliè Environmental Trust City of London Heritage Fund ITNLHFI L.B Newham Big Issue Invest Garfield Weston Foundatlon TudorTrust Cockayne Foundation Clirllate Action Fund ICAFI Other restricted funds Total restricted funds 31.294 17.105 62.500 133.553 146.1741 14,880 18,628 40,841 176,5741 148,9131 1120.9651 15,587 12.588 543 10.125 15.075 543 10.125 20,000 30.000 15.DOO 183.874 7.610 511.061 14,9251 130.8531 18.4861 183.8741 15.7731 447.963 12.464 6.514 654 34,182 2.491 74,534 53,848 76,574 nrestricted Fun Gener81 fund Total unrestridèd funds 1.758.878 1.758.878 141.192 141.192 190.463 190.463 34,162 34,162 76,574 76,574 1.752.019 1.7S2.019 Total Funds 1.812.726 652.253 1638.4281 1.826.553 16 RKonGiliatson of net income I lexpenditurel to net cash flow from operating activitse5 2025 2024 Net income I lexpenditurel for the reporting period la5 per the ststernent of financial activities) Depreciation IlnGreasell deGrease in debtorslstork Intrea$el Idecreasel in treditors Net cash provided by I Iused inl operating activities 496,290 13.827 109,278 115,9391 119,3541 569,275 109.278 14.4791 11.608 120,234 17 Related party iransactlons There were no related party transactions in the financial year. 28