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2023-03-31-accounts

REGISTERED COMPANY NUMBER: 07474198 (England and Wales) REGISTERED CHARITY NUMBER: 1147015

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

CULTIVATE LONDON LTD.

Johnsons, Chartered Accountants 1-2 Craven Road

Ealing London W5 2UA

CULTIVATE LONDON LTD.

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

Page
Chairman's report 1
Report of the trustees 2 to 8
Independent examiner's report 9
Statement of financial activities 10
Balance sheet 11
Notes to the financial statements 12 to 17
Detailed statement of financial activities 18 to 19

CULTIVATE LONDON LTD.

CHAIRMAN'S REPORT FOR THE YEAR ENDED 31 MARCH 2023

Cultivate London is a unique social enterprise which uses the power of horticulture to support and enhance urban communities. The team at Cultivate London create and maintain dynamic innovative garden spaces which are enjoyable and sustainable for the local community. We use those as a base from which to reach out and take maintenance into the surrounding areas, giving children and adults a chance to get involved in gardening and to get in touch with nature.

As a responsible social enterprise, we provide learning, training, and work for those with less opportunity than others. We provide access to opportunities for wellbeing, friendship, connection, and health for a wide range of members of society of all age groups and backgrounds.

Cultivate London has for another year shaped and enhanced many lives during the past year. We use our sites as hubs hosting workshops for local community members and schools or visiting them at their own site or schools. We demonstrate, inspire, and train people to care for their own spaces.

Cultivate London is there for the whole community. It is with pride that we can look back this year at projects where we helped galvanise and support local residents, community groups and stakeholders to enhance, create and manage 14 community green spaces and gardens. Throughout the work done over this period we engaged with over 412 people in our community gardens and supported green spaces 250 children and young people in our programmes delivering to schools and education providers across Ealing and Hounslow. Our evolving innovative Landscaping Plus programme provides landscaping services to developers, whilst enabling Cultivate London to provide apprenticeship and training opportunities and reach further into the community, offering opportunities for people who do not have access to their own garden to engage in community gardening within the environs of their apartment blocks.

Whilst many of our client groups are ultimately funded by the public sector and local authorities, we continued to work with private sector businesses such as our closest neighbours at our Acton Gardens site, Countryside Properties and we have planted up pocket gardens and "meanwhile" spaces with the communities old and new.

Our finances and business model came under considerable pressure during the Covid-19 pandemic during 2020-21 and we started slow recovery in 21-22 and this work continued throughout 22-23. We recognise the seasonal nature of the space in which we operate - both horticulturally and in funding programmes - and that this seasonality creates challenges. We address this in our reserves policy.

During 2022-23 we had a balance of restricted funds (mostly grant income) to unrestricted funds of 35% restricted 65% unrestricted.

In closing, I would like to thank our CEO, Auberon Bayley, who has worked tirelessly during the last 3 years in the most difficult of times, handling a challenging business environment while always looking to innovate and deliver on our charitable aims.

I would like to offer special thanks to our hardworking and dedicated staff. You all should be very proud of the positive difference that you have made to the lives of our local audiences, children, and communities in which we work.

I would also like to thank our trustees, volunteers and supporters who dedicate their own time and energies to improve the lives of others.

Steve Pocock, Chair

Page 1

CULTIVATE LONDON LTD.

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).

OBJECTIVES AND ACTIVITIES Aims and Objectives

Aims

Cultivate London's mission is to develop a commercially sustainable and scalable offering to ensure continuous support of:

  1. The individual to be better equipped to identify and sustain suitable employment whilst building confidence and connection through increased knowledge, capability, and opportunity.

  2. The community through creating social cohesion with shared appreciation for green spaces and education in the power of horticulture and green spaces.

  3. The environment by increasing biodiversity in public and commercial spaces to help reduce the impact of climate change whilst creating new and/or enhancing green spaces for local residents in London.

Objectives

  1. To use the power of horticulture and developing green spaces to support and enhance local communities.

  2. To provide opportunities to learn, train and work to disadvantaged individuals, community groups, individuals, and school groups.

  3. To generate appreciation and engagement in green space and its preservation.

2022-23 Objectives

The objectives for the year were:

  1. To fulfil our core objectives

  2. To continue to recover from the challenges posed by the global pandemic financially and operationally, prepare and position ourselves for future growth.

  3. To continue to change in focus to an enhanced, community-engaging, commercial landscape gardening and maintenance offering and utilise the progress in this area to increase our offer for the grant funded community projects.

  4. To start the development of our new DIG community garden in Hanwell as a centre for community gardening and engagement with nature.

  5. To continue and make full advantage of our presence at the Acton Gardens site taking advantage of the closeness to large numbers of residents,

  6. To improve our links with local development companies, housing estates and local businesses needing gardening maintenance contracts.

Public benefit

The Trustees confirm that reference has been made to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives, in planning future activities and in setting the policies for the period.

Page 2

CULTIVATE LONDON LTD.

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

ACHIEVEMENT AND PERFORMANCE Charitable activities

1. Introduction

The year Mar 22 - Mar 23 was mostly about consolidating our post-pandemic recovery work started in the previous year.

During this period, we worked regularly across:

The diversity of the spaces that we work within and the range of audiences that we can therefore reach, are amongst our proudest achievements. That we were able to continue and build on this work during such a challenging period are a direct credit to our managers, staff and volunteers, and to the power of our offer to the local community.

This number of sites and projects allowed us to interact and work with a wide range of people. Just as example:

- Over 235 people across our Salopian Garden projects.

Acton

2. Our Community Gardens - Providing Welcoming Spaces

A. Salopian Gardens, Isleworth, TW7

Most of our programme for schools is delivered at the Salopian Gardens, as was the Thriving Communities, along with our regular volunteer days. It is a learning hub for people who are starting their journey into horticulture and has provided valuable voluntary work to allow access to apprenticeships with other organisations.

The garden is an "outstanding example of a community growing space" as evidenced by our being awarded the London in Bloom awards in both 2022 and in 2023.

B. DIG, Hanwell, W7

Our new site was acquired in May 2021 through successful funding in a Mayor of London / Ealing SpaceHive community funding campaign raising over £32,000 from more than 70 backers, including the Mayor of London and Ealing Council's Future Ealing Fund.

We received the keys to the site in June 2022, and 2022-2023 saw us start to transform and renovate this large, very overgrown, garden space.

Our aim for this space is, using our Salopian Garden as a model, to turn it into an asset for the local community in and around Hanwell.

Current programmes at DIG include: A weekly curated session for NHS Perinatal clients is in place on Wednesdays, and during the growing season the gardens open weekly on Mondays for volunteers.

C. Acton Circular, Acton, W3

This is a new site which is being set up within the Acton Gardens estate.

Using funding from the Ealing Pioneers grant and working with partners LEAP we will be deploying a Closed loop growing system - collecting green waste and timber from the surrounding area and using an anaerobic system to convert it into feed and compost.

This project was delayed due to delays in gaining access to the site as development schedules changed and this site will only start being used during 2023-24.

This site also provides a base for the garden services team and a point from which Cultivate London engages with local partners including the community centre, Acton gardens school and the university of West London. We are very grateful to Ealing Council and Countryside Partnerships for supporting our presence within the Acton Gardens estate.

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CULTIVATE LONDON LTD.

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

3. Providing Training and Apprenticeships

Cultivate London retained 2 apprentices during this period with one of these graduating from the kickstart scheme. We worked with Ealing council to develop a post kickstart programme for the same target group of young people currently unable to find work or training. This will be called the pathways horizons and began being rolled out in 2023 with Cultivate London hosting one the first participants.

We continue to build a relationship with The National Citizen Service (NCS), providing opportunities for 16- and 17-year-olds to gain experience on our community sites in Acton.

  1. Supporting Schools, Children and Families

A. Schools programme

School activities are linked to curriculum objectives and put the student needs at the forefront of the planning. Communication prior to school visits enabled these sessions to be tailored to the needs of the specific students.

As example, in February 2022 Inspire Hounslow kindly funded a series of workshops with local schools in the area. The schools attend the Salopian Garden to learn all about growing food, horticulture and science and nature in the garden.

This ran through to the end of July 2022.

Cultivate London delivered regular workshops to each year group within the Acton gardens school. Over the year this began with sowing and progressed to harvesting and cooking what was grown in the garden with recipes focussing on demonstrating what is seasonal and familiar foods without sugar or salt.

5. Supporting the Community

A. Thriving Communities - Mentoring Community Groups

Feltham in bloom - Cultivate London partnered with a volunteer led community group to help keep their good work alive while the organisation needed to adapt to changes in key people. Examples of projects included a butterfly garden within Housing estate playground and workshops within Victoria School in Feltham.

Hope Church - Derelict garden space with 9 raised beds. Cultivate London held open sessions during the time families came to collect food donations. Refugees who were being aided by the church helped to seed and establish the garden and we continue to support the garden via the link with the Salopian.

Autumn 22 - The HIVE project is coming to an end having established many green spaces in the borough. Some of which are positively thriving. The food group has also been very successful with regular clients from the nearby NHS MINT team.

B. Engaging Residents with their Parks

In Ealing, working with the Council, we have continued to engage with the local community at Dean Gardens, a busy focal point of West Ealing. The goal for this project is to change the perception of the park and engage the local community. We ran community regular drop-in volunteering sessions, working on projects which helped make the park feel more welcoming and safer, which at the same time increasing biodiversity.

6. Landscaping Plus - Providing beautiful surroundings and engaging the Community

Our Landscaping services provide opportunities for apprentices to learn, while raising funds to support our other programmes.

We continue to develop our commercial Landscaping Plus offering, building on the work that we have undertaken in and around Acton Gardens, Ealing.

Landscaping Plus involves caring for commercial spaces but also ensuring that there are many opportunities for the local community and residents to get involved, to help influence and improve their own spaces. These programmes also provide volunteering and apprenticeship opportunities, providing training for young people.

We have started to look at domestic gardening opportunities, with the aim of increasing unrestricted income but also providing opportunities for apprentices to gain experience in a variety of settings.

Residential garden in East Acton

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CULTIVATE LONDON LTD.

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

We were contacted by a resident who was inspired by our community gardens to replicate this in their own space within East Acton. The brief was to maximise the number of fresh herbs, fruit and vegetables he could grow within a renovated property's external space. We managed to create a mini -orchard, soft fruit border, herb beds and salad patch.

A communal area adjacent to an estate in Feltham. We worked with residents to create a pollinator pathway through the patch of grass. The brief was to create something robust as well as rich for wildlife as it would have to resist a lot of children running through along with no access to manual watering.

"Cultivate London are a brilliant local horticultural project. With highly skilled plantologist Auberon who, with members of Cultivate London training under him, took on planting of some very difficult land that required self-maintaining plants along a path edge and on a corner on our estate both of which have done very well. It's great to have an organisation like this that you can reach out to for that additional expert help."

Rin Roche - Butts Farm Working Together Group

FINANCIAL REVIEW Trading Performance

Cultivate London runs on a mixed model of grants and trading income with a 35.2% / 64.8% split in the year 2022/23 (2021/22: 32.5% / 67.5%).

Income

Total income for the year was £278,123 (2022: £359,349)

Income
Total income for the year was £278,123 (2022: £359,349)

2023
 2022
Grant
 98,343
 117,009
Charitable Activites
 179,780
 242,340
278,123
 359,349

Expenditure

Total resources expended for the year were £333,240 (2022: £353,269)

The main expenditure of the organisation is the salaries of staff who are engaged as management, support staff, session leaders, horticultural specialists, and apprentice gardeners.

All costs for specific projects must be raised separately, mainly from grant applications or unrestricted income raised through landscaping and maintenance contracts, corporate team building days, fundraising events, and other local fund raising.

Reserves policy

Reserves are retained with the intention of:

On 31 March 2023 the charity free reserve fell short of the desired level.

The Board reviewed the Reserves Policy during 22-23 and have it continually under review as part of their programme of future planning. We recognise the seasonal nature of the space in which we operate - both horticulturally and in funding programmes - that this seasonality creates challenges. We must work harder during the summer months with an eye on raising sufficient unrestricted funds to cover the leaner winter months.

The Board will ensure it is reflective of the environment in which we currently operate and will:

Restricted funds for delivery of specific projects amounted to £98,343. The Charity seeks to utilise all restricted reserves on the defined projects within the specified timeframe.

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CULTIVATE LONDON LTD.

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

FUTURE PLANS

Cultivate London aims to consolidate our position as a catalyst and support hub for helping groups and individuals within the community to develop growing spaces and 'green the grey' around where they live.

Cultivate London will work to create a solid foundation from which to build financial stability expanding our landscaping offer across commercial and domestic by increasing our capacity and efficiency, utilising our home-grown resources, and by emphasising the unique community benefits that funding Cultivate provides.

Cultivate London plans to increase the ratio of income earned through commercial projects to 70% in relation to 30% from grant funded activities. Through this increase in unrestricted income Cultivate London intends to increase reserve levels.

We will retain our core sites for activities at Acton Gardens (Acton), Salopian Gardens (Isleworth) and DIG (Hanwell). These will act as community hubs, training venues and demonstrations of best practice. They enable grant funded projects

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Cultivate London Limited is a company limited by guarantee with no share capital incorporated on 20th December 2010 and governed by its Articles of Association dated 20th December 2010, which were amended in March 2012, September 2020 and January 2021.

Appointment, induction and training of Trustees

All appointments are made by Cultivate London. Selection of Trustees is made on the basis of the need to fulfil Cultivate London's legal obligations and to reflect the skills required at board level and the community in which Cultivate London is based. Trustees may serve a maximum of four consecutive terms of three years to the appropriate retirement meeting, before taking a break from office, and may not be re-appointed for one clear year.

Trustees may join the committee at any time as observers and may be elected to the management committee at a subsequent meeting. Recruitment has been via word of mouth and networking opportunities, and will also be via advertisement at the AGM.

Training is available for Trustees

New Trustees are given copies of the memorandum and articles and Cultivate London's policies and procedures. They are encouraged to visit all the sites and to meet staff.

Organisational structure

Cultivate London is run by a Management Committee made up of Trustees and Directors of the Company and co-opted Trustees.

The committee is chaired by the Chair who is supported by the Vice-Chair.

The Management Committee is supported by a Finance Committee consisting of the Chair, CEO, and two Directors with specific financial experience, supported by appropriate staff.

Strategic decisions are made by agreement and by voting where necessary with the Chair having the casting vote. Staff are welcome to attend Committee meetings but have no voting rights. Officers' meetings are held as necessary to make day-to-day decisions.

The Officers' meetings include the CEO, the Chair and other staff and Trustees when necessary.

The AGM is held in autumn and is followed by a staff/Trustee meeting where priorities for the coming year are set.

Day-to-day management is devolved to the CEO Auberon Bayley. Other senior staff are projection manager Sylvia Cordell, Education officer Sally Tillson and Horticultural services manager Column Friel.

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CULTIVATE LONDON LTD.

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

Appointment, induction and training of Trustees

All appointments are made by Cultivate London. Selection of Trustees is made on the basis of the need to fulfil Cultivate London's legal obligations and to reflect the skills required at board level and the community in which Cultivate London is based. Trustees may serve a maximum of four consecutive terms of three years to the appropriate retirement meeting, before taking a break from office, and may not be re-appointed for one clear year.

Trustees may join the committee at any time as observers and may be elected to the management committee at a subsequent meeting. Recruitment has been via word of mouth and networking opportunities, and will also be via advertisement at the AGM.

Training is available for Trustees

New Trustees are given copies of the memorandum and articles and Cultivate London's policies and procedures. They are encouraged to visit all the sites and to meet staff.

Organisational structure

Cultivate London is run by a Management Committee made up of Trustees and Directors of the Company and co-opted Trustees.

The committee is chaired by the Chair who is supported by the Vice-Chair.

The Management Committee is supported by a Finance Committee consisting of the Chair, CEO, and two Directors with specific financial experience, supported by appropriate staff.

Strategic decisions are made by agreement and by voting where necessary with the Chair having the casting vote. Staff are welcome to attend Committee meetings but have no voting rights. Officers' meetings are held as necessary to make day-to-day decisions.

The Officers' meetings include the CEO, the Chair and other staff and Trustees when necessary.

The AGM is held in autumn and is followed by a staff/Trustee meeting where priorities for the coming year are set. Day-to-day management is devolved to the CEO Auberon Bayley. Other senior staff are projection manager Sylvia Cordell, Education officer Sally Tillson and Horticultural services manager Column Friel.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

07474198 (England and Wales)

Registered Charity number

1147015

Registered office

Cultivate London Plant Nursery Enfield Road Acton London W3 8RA

Trustees

Ms H M Bond (resigned 1.9.2022) D A Larkam Dr A K Liebreich D Millican (resigned 1.9.2022) D R Moore S W Pocock Ms A X Shi Ms S J Ward

Website

www.cultivatelondon.org

Company Secretary

D A Larkam

Page 7

CULTIVATE LONDON LTD.

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

REFERENCE AND ADMINISTRATIVE DETAILS

Independent Examiner

Edmund Cartwright FCCA FMAAT Johnsons, Chartered Accountants 1-2 Craven Road Ealing London W5 2UA

29 January 2024 Approved by order of the board of trustees on ............................................. and signed on its behalf by:

........................................................................ S W Pocock - Trustee

Page 8

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CULTIVATE LONDON LTD.

Independent examiner's report to the trustees of Cultivate London Ltd. ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.

I have completed my examination.

I have identified a matter of concern in my report because I have concerns that the charitable company has utilised the funds received for restricted purpose towards activities other than for the specified purpose. In doing so, the charitable company is not fully compliant with the requirements of Statement of Recommended Practice for accounting and reporting by charities (FRS 102 SORP) regarding restrictions on the use of restricted funds. The Charitable Company's unrestricted income for the year is £178,780 and related expenses amounted to £249,256. The balance of unrestricted fund and restricted fund balance as of year-end is £(98,849) and £35,826 respectively.

I confirm that no other matters have come to my attention in connection with the examination giving me reasonable cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; and

  3. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.

Edmund Cartwright FCCA FMAAT

Johnsons, Chartered Accountants 1-2 Craven Road Ealing London W5 2UA

Date: .............................................

Page 9

CULTIVATE LONDON LTD.

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

2023 2022
Unrestricted Restricted Total Total
fund funds funds funds
Notes £ £ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 3,642 98,345 101,987 117,009
Charitable activities
Charitable activites 176,138 - 176,138 242,340
Total 179,780 98,345 278,125 359,349
EXPENDITURE ON
Charitable activities
Charitable activites 249,256 84,048 333,304 353,269
NET INCOME/(EXPENDITURE) (69,476) 14,297 (55,179) 6,080
RECONCILIATION OF FUNDS
Total funds brought forward (29,375) 21,531 (7,844) (13,924)
TOTAL FUNDS CARRIED FORWARD (98,851) 35,828 (63,023) (7,844)

The notes form part of these financial statements

Page 10

CULTIVATE LONDON LTD.

BALANCE SHEET 31 MARCH 2023

Notes
FIXED ASSETS
Tangible assets
6
CURRENT ASSETS
Debtors
7
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
8
NET CURRENT ASSETS/(LIABILITIES)
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS
Amounts falling due after more than one year
9
NET ASSETS
FUNDS
11
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
fund
£
22,905
17,988
8,494
26,482
(76,148)
(49,666)
(26,761)
(72,088)
(98,849)		 Restricted
funds
£
-
-
35,826
35,826
-
35,826
35,826
-
35,826		 2023
Total
funds
£
22,905
17,988
44,320
62,308
(76,148)
(13,840)
9,065
(72,088)
(63,023)
(98,849)
35,826
(63,023)		 2022
Total
funds
£
31,001
59,355
127,689
187,044
(148,642)
38,402
69,403
(77,247)
(7,844)
(29,375)
21,531
(7,844)

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 29 January 2024

............................................. S W Pocock - Trustee

The notes form part of these financial statements

Page 11

CULTIVATE LONDON LTD.

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company will receive continued support from its creditors and have adequate resources to continue to operate for the foreseeable future. On this basis the financial statements have been prepared on the going concern basis.

INCOME

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

EXPENDITURE

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to wirte off each asset over its estimated useful life.

Fixture and fittings -10% on cost
Motor vehicles -25% on cost
Computer equipment -33% on cost

TAXATION

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

FUND ACCOUNTING

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

SIGNIFICANT MANAGEMENT JUDGEMENTS AND ESTIMATION UNCERTAINTIES

Depreciation

The depreciation of fixed assets is based on management's estimate of the useful lives of the assets which is reviewed annually. Changes to expected useful life or residual value could have a significant impact on the amounts recognised in the financial statements.

Bad debt provision

A line by line review of trade debtors is carried out regularly. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectible.

continued...

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CULTIVATE LONDON LTD.

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

2. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2023 2022
£ £
Depreciation - owned assets 8,568 8,500

3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31st March 2023 nor for the year ended 31st March 2022.

TRUSTEES' EXPENSES

There were no trustees' expenses paid for the year ended 31st March 2023 nor for the year ended 31st March 2022.

4. STAFF COSTS

2023 2022
£ £
Wages and salaries 145,353 183,985
Social security costs 4,619 11,235
Pension costs 2,020 2,498
151,992 197,718

The average monthly number of employees during the year was as follows:

The average monthly number of employees during the year was as follows:
2023 2022
Operations staff 9 9
No employees received emoluments in excess of £60,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
31,963
Charitable activities
Charitable activites
242,340
Total
274,303
EXPENDITURE ON
Charitable activities
Charitable activites
288,224
NET INCOME/(EXPENDITURE)
(13,921)
RECONCILIATION OF FUNDS
Total funds brought forward
(15,454)
TOTAL FUNDS CARRIED FORWARD
(29,375)		 Restricted
funds
£
85,046
-
85,046
65,045
20,001
1,530
21,531		 Total
funds
£
117,009
242,340
359,349
353,269
6,080
(13,924)
(7,844)

5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

continued...

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CULTIVATE LONDON LTD.

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

6. TANGIBLE FIXED ASSETS

Fixtures
Short
and
leasehold
fittings
£
£
COST
At 1 April 2022
2,710
82,291
Additions
-
267
At 31 March 2023
2,710
82,558
DEPRECIATION
At 1 April 2022
271
53,729
Charge for year
271
8,229
At 31 March 2023
542
61,958
NET BOOK VALUE
At 31 March 2023
2,168
20,600
At 31 March 2022
2,439
28,562
7.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Prepayments and accrued income
8.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 10)
Trade creditors
Social security and other taxes
VAT
Other creditors
Accrued expenses
9.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
Bank loans (see note 10)
Loan from Housing Pathways		 Motor
vehicles
£
14,855
-
14,855
14,855
-
14,855
-
-
YEAR		 Computer
equipment
£
3,424
205
3,629
3,424
68
3,492
137
-
2023
£
17,988
-
17,988
2023
£
12,687
6,032
2,558
4,500
41,371
9,000
76,148
2023
£
31,444
40,644
72,088		 Totals
£
103,280
472
103,752
72,279
8,568
80,847
22,905
31,001
2022
£
56,991
2,364
59,355
2022
£
10,648
7,657
12,142
13,745
100,450
4,000		 Totals
£
103,280
472
103,752
72,279
8,568
80,847
22,905
31,001
2022
£
56,991
2,364
59,355
2022
£
10,648
7,657
12,142
13,745
100,450
4,000
148,642
2022
£
36,167
41,080
77,247

The charity received a loan of £50,000 from Housing Pathways Trust. This loan is repayable in equal instalments over 25 years commencing from January 2021 and is interest free.

continued...

Page 14

CULTIVATE LONDON LTD.

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

10. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£ £
Amounts falling due within one year on demand:
Bank overdrafts 2,039 -
Bank loans 10,648 10,648
12,687 10,648
Amounts falling due between two and five years:
Bank loans - 2-5 years 31,444 36,167

11. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Restricted funds
Heathrow Community Trust
Global Action Plan
London Borough of Hounslow
The Liebreich Foundation
Royal Horticulture Society
Make London (DIG)
Spacehive Crowd Funding
GroundWork London
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Heathrow Community Trust
London Borough of Hounslow
Royal Horticulture Society
Make London (DIG)
Acton Garden
EALING Pioneer’s Fund
GroundWork London
TOTAL FUNDS		 At 1/4/22
£
(29,375)
-
1
-
1,530
-
10,000
10,000
-
21,531
(7,844)
Incoming
resources
£
179,780
2,222
20,605
2,501
8,001
5,000
58,095
1,921
98,345
278,125		 Net
movement
in funds
£
(69,474)
2,222
-
8,036
-
1,501
2,298
-
238
14,295
(55,179)
Resources
expended
£
(249,254)
-
(12,569)
(1,000)
(5,703)
(5,000)
(58,095)
(1,683)
(84,050)
(333,304)		 At
31/3/23
£
(98,849
2,222
1
8,036
1,530
1,501
12,298
10,000
238
35,826
(63,023
Movement
in funds
£
(69,474
2,222
8,036
1,501
2,298
-
-
238		 At
31/3/23
£
(98,849
2,222
1
8,036
1,530
1,501
12,298
10,000
238
35,826
(63,023
14,295
(55,179

Page 15

continued...

CULTIVATE LONDON LTD.

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

11. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Restricted funds
Global Action Plan
The Liebreich Foundation
Make London (DIG)
Spacehive Crowd Funding
TOTAL FUNDS		 At 1/4/21
£
(15,454)
-
1,530
-
-
1,530
(13,924)		 Net
movement
in funds
£
(13,921)
1
-
10,000
10,000
20,001
6,080		 At
31/3/22
£
(29,375)
1
1,530
10,000
10,000
21,531
(7,844)

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Battersea Project
Global Action Plan
Thriving Communities Fund
Royal Horticulture Society
Semble Network
Make London (DIG)
Acton Garden
Spacehive Crowd Funding
TOTAL FUNDS		 Incoming
resources
£
274,303
2,542
13,655
38,100
250
499
10,000
10,000
10,000
85,046
359,349		 Resources
expended
£
(288,224)
(2,542)
(13,654)
(38,100)
(250)
(499)
-
(10,000)
-
(65,045)
(353,269)		 Movement
in funds
£
(13,921)
-
1
-
-
-
10,000
-
10,000
20,001
6,080

These following restricted funds were provided to the charity during the period of this report.

Battersea Project

In partnership with London Cooking Project, the charity has built a community kitchen garden on the Ethelburga Estate in Battersea. The two year project commenced in April 2018 and is funded by grants from Garfield Weston Foundation (£10,000), London Borough of Wandsworth (£10,000) and crowdfunded donations.Due to the break for the pandemic there was a community planting session scheduled in the following year to finish off the project support from Cultivate London. The funds have been fully expended.

Global Action Plan

Cultivate London received funds from Global Action Plan (formerly London Sustainability Exchange) to develop and deliver gardening, growing and healthy eating workshops within the Brentford area. This was completed on a weekly basis throughout the growing season and monthly split between sessions led by Cultivate London and those led by Hen Corner. There was an additional element added to the programme to combat the isolation felt after the pandemic. Hen Corner created recipe boxes that were delivered to the local area and Cultivate London held community plant and share events in the local area. Cultivate London received the money for both sessions and were invoiced at intervals by Hen Corner for the portion of work completed.The funds have been fully expended.

Thriving Communities Fund- London Borough of Hounslow

Page 16

continued...

CULTIVATE LONDON LTD.

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

11. MOVEMENT IN FUNDS - continued

The thriving communities fund provided by The London Borough of Hounslow enabled Cultivate London to make important upgrades to the facilities at our core community garden in Isleworth, upskill staff and provide a mentoring programme for community groups wanting to create their own garden space.The funds have been fully expended.

Royal Horticultural Society

The RHS supported our community show garden at Hampton Court Garden in July by providing funds for materials and PPE.The funds have been fully expended.

Semble Network

Cultivate London received £500 from Semble network’s Action Funder programme in order to support families with small children engaging with the Salopian community garden in Isleworth by purchasing child friendly tools, PPE and selection of growing materials.

Ealing SpaceHive for Hanwell DIG (crowdfunding, Ealing Council, Mayor of London)

Cultivate London ran a crowdfunding campaign within Ealing Spacehive to raise money. Funding was successful in May 2021, and contributions were received from over 70 members of the public, local companies along with Ealing Council’s Future Ealing Fund (£10,000) and Mayor of London (£18,000 Make London - Tier Two), though the latter will be released in tranches. The funds are being used to convert the Hanwell DIG site into a working community hub.

Acton Gardens

Cultivate London received £10,000 from the Acton gardens community chest over 2 separate funding periods, June and December 2021. This was given to first install, repair and replant beds within Berrymede junior school and engage and promote gardening sessions based here to the local community. The second period funds were given to expand the space available for these sessions and engage teachers, parents and pupils to participate and learn from the established rota of sessions.

The Liebreich Foundation

Funding was provided to buy recycled pedal bike for the staffs of The Cultivate London Ltd to travel to work sites due to the restrictons in social contact and following government advise not to use public transport.

12. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2023.

Page 17

CULTIVATE LONDON LTD.

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Grants
Charitable activities
Landscaping
Labour
Other income
Sales-plants
Government Covid grants
Sales-workshops
Total incoming resources
EXPENDITURE
Charitable activities
Staff salaries & social security cost
Social security
Pensions
Telephone
Postage and stationery
Landscaping
Sheds, tools and equipment
Other site costs
Motor expenses
Repairs and Renewals
Equipment hire
Accounting fees
Computer expenses
Health and safety
Rent
Subsistence
Paypal fees
Support costs
Management
Staff salaries & social security cost
Rent, rates and insurance
Telephone
Postage and stationery
Travel and meals
Computer expenses
Administration and recruitment
Staff training
Book-Keeping fees
Bank Charges
General office expenses
Health & Safety
Independent examination fees
Carried forward		 2023
£
1,154
100,833
101,987
145,323
-
2,123
9,125
-
19,567
176,138
278,125
58,141
1,848
808
560
25
24,504
2,890
33,300
2,944
57,133
1,157
7,503
335
1,658
3,078
194
548
196,626
89,985
7,824
840
256
161
503
4,945
354
11,256
289
1,186
2,487
1,157
121,243		 2022
£
3,095
113,914
117,009
203,872
31,106
1,503
-
5,859
-
242,340
359,349
150,723
-
-
-
-
88,208
996
10,904
7,011
-
-
-
-
-
-
-
-
257,842
44,496
9,862
2,476
139
114
2,324
665
-
13,031
325
255
2,185
5,395
81,267

This page does not form part of the statutory financial statements

Page 18

CULTIVATE LONDON LTD.

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2023
Management
Brought forward
Subscriptions
Staff pension
HR and Payroll fees
Motor expenses
Depreciation of tangible and heritage assets
Bank loan interest
Total resources expended
Net (expenditure)/income		 2023
£
121,243
20
1,212
-
4,416
8,568
1,219
136,678
333,304
(55,179)		 2022
£
81,267
421
2,498
1,746
-
8,500
995
95,427
353,269
6,080

This page does not form part of the statutory financial statements

Page 19