Registered number 08236843 Chartty number: 1151225 HIGHGROUND PROJECTS LIMITED (A Company Llmlted by Guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 MARCH 2024 HIGHGROUND PROJECTS LHrrED (A Company Limited by Guardntse) CONTENTS Page R•ference and Admlnlstratlve Detalls of the Company. Its Tnmtees and Advlsers Chairman's Statemenl Trustee5' Report Independenl Examlnefs Report Statement of Flnanclal Acllvftles 10 Income and ExpgndltuTo ￿￿Ount Balance Sheet 12 13-14 N¢)t•s to thg Financial Statoments 15-28 HIGHGROUND PROJECTS LIMITED (A Company Limlted by Guarantee) REFERENCE AND ADMINISTrATIVE DETAILS OF THE COAIPANY. rrs TRUSTEES ANDADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Mr S Cardffi, Chalrn￿n Mr J R Kerner Mr M J Perkins Mrs S Mosley Mr A T A Hoppenbrouwers Mr R N Winterton MrT Green Mr J Holt Mrs K Clarke Company reglstorod number 08236843 Chvlty rnglstsrnd numbor 1151225 Reglst•r•d offlGo Preston Smithy, Chathdl Northumbertand NE67 5DG Company secretary Mrs F Rew Executlve Dlrector Miss A V Baker Cresswell Accountants Rye(xoft Glenlon Chartered Accountants 32 Portland Terrace Jesmond Newcastle upon Tyne NE2 1QP BankarJ Lloyss Bank plc 24. BoThSgate Wlthln Alnwick Northumbertand NE66 1TD Investm•nl Manager Quilter Chewot S8n8tor House 85 Queen Victorfa Street London EC4V 4AB Page 1 HIGHGROUND PROJECTS LIMrrED (A Company Limlted by Quarnntee) CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 The Chaimian presents hi5 Statement for the year. As l assumed the thaimwnship of HighGround in Awl 2023 we weTB ￿lebrating 10th anniversary, righ£ty reflecting on the achievements when the charity grew from an idea of Anna Baker Cresswell to where it finds tself now, a highly ￿arded deliverer to the Armed Forces community. AH those who have ￿lI[buted to this su(xxs over the past 10 years can be pro￿1 of they have helped to ￿eafte. 11 was also fel( however. that the charity had afrived at a watershed moment beLzuse while it is a sIgnffi￿nt achievement for any charity to survive. let alon8 prospet. for 10 ￿[S the Boaffl wanted to set the conditions for fuiure succ*ss over the next 10 years. The Board agreed a new 5 Year Strategic Plan which crystallised its intentions for the charity. HighGround has not had the horsepower to develop and expand its service5 even thwgh there was dear evidence that this was needed and woukl be valued. it vms agr88d that a more resilient management strucbJr8 was required whith would also PTOVKle the e&sential extra capacty to allow HighGround to grow. The Board was unanimous in its ambition to grow all areas of delivery and to that end a CEO and Operations Manager were recruitad in the latter part of 2023. freeing up Anna Baker Cresswell to become Head of Income Generation. The Impact of these changes is already being felt. With the generous assistance of donors we have now opened a second slie for the dellvery of Rural Weeks at Askham Brydn College near York. The addibonal staff have allow8d us to put mor8 efft)rt into key lines of activity, inthding. bLrt not limited to. fundraising. service development arKI colLgboration with other charities. We have also idenlified the funding for more Occupational Therapist (OT) support at Ihe Defence Medical Rehabilitation Centre (DMRC) Stanford Hall whlch will be provlded during FY24125. Thus on the back of HighGround's first very suc(xssfvl 10 years the Board is confident that we now have the plan, strU￿re and capacity to take HighGround with its tharacteristic enthusiasm and energy into the next 10 >Ears of Its lrfe, delivering high quality horticullural therapy and resetuement services to the Armed Forces community. None of this would be possible ￿T[hOUt the commitment and dedication shown not onty by paid staff but also by our volunteers; in particular I wanted to high1￿h1 the contribution made by the tnjstses whose diligen￿ and willingness to give of their time and expertise have tjeen of immense value this past year. My thanks go to all who support HIghGr￿nd in so many ways. 8JxI I Ity)k forward to enjoying your c¥Jntinued supporL Slmon Caraffl Chalr of Trustees 10 July 2024 Page 2 HI¢>HGROUND PROJECTS LIMrrED (A Company Llmlted by Guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustee5 present their annual report together with the financial statements of the Charitable Company for the Jear 1 April 2023 to 31 March 2024. The Annual Report serves the purposes of Ix)th a Trustees. rewrt and a directors. report under company law. The TTUStee5 confimi tt￿t the Annual Report and financial statements of the charitable company comply with the cutrent slatutory requirements, the requirements of the d)aritable coMpa￿S goveming document and the provisions of the Statement of Recommended praGt1￿ (SORP) applicable to charities preparing their ac￿Unt$ in aCco￿n￿ with the Fin8ncial Reporting Stsndard applicable in the UK aThJ Republic of Ireland (FRS102) (effecbve 1 January 2019). Since the Company qualifies as small under section 382 of the Companies Act 2006. the Strategic Report required of medium and large companie5 under the Companies Act 2006 (Strategic Retort and Dwector8' Rewt) Regulations 2013 has b68n omitted. OWective5 and aGtivitles • Pollcles and objectives The Obie(as as set out in th8 Charltable CompanYs Artldes of Association are: The preventlon and rel￿1 of poverty. the ￿lief of ill-health (whether mentsl andlor physical) and I lief of need amongst: - Sep4ing and fomier $8rving members of the armed fOr￿S of the crtr￿n injured on active servi￿, - Other personnel employed in roles, whth direcuy support the United Kingdom's security. intemational developm8nt and gtabilisation arKI intelligence, who have been injured in the cour3e of their duties by means of the provision of mentoring, services. facilities and equipmenl to support theirtrealmenL rehabilitalion. resetuement. education. training and ern￿oyMenL b) .To educate the pubtic about mental health. in Fth￿￿ar about mental injury sustained during seNice to the public and m8thods of providing relief and treatrnent and on the basis that in pur3uing the above aims. the Charity shall operate mainty in England. In setting objeclives and planning for activit￿. the TnEtees have given due consideration to general guidan published by the Charity Commission relating to wblic benefiL including the guidan￿ 'Publi¢ benefiL" tunning charity (PB2)'. Further detailed infom)ation relating to the strategies arKI ￿￿ertakingS for achieving the charitable obje(aives. and in furtherarth of the public benefft can be fourKI In the next section. Achievements and perforn￿n￿. Pag8 3 HIGHGROUND PROJECTS UMrrED {A Company Limited by Guarant•e) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achievements and perfonnance • Review of activities HighGrcwrKI continued to achi8V8 som8 fK)table milestones in the last 12 months. HlghGround marked its 10th annlverwy and launched ils 5-year strategy. also welcomlng tts new CEO, at the Tower of London in November 2023. HighGround acknowledges and highlights HighGround's Founder Anna Baker Cresswell's achievements in its first ten years. Wilh the appointment of the tharitys first CEO, Anna continues to be a huge part of the charity wilh a newiob title of Founder and Head of In(x)we Generation. HsghGround recruited its first CEO in Jamie Crisp in October 2023. Jamie seNed 24 years in the Infanty from 1986 to 2009, Jamie then transitloned Into Landbased educalion for 14 years with the last 5 years as Head of Duchy College a sp9cialist Comish Landbaswj College. HighGround also recwit8d their firsl operations manager. Heather Crawford joined the tharity in December 2023 to this new role. HighGmund received its Employer Recognition Scheme Stanford Hall delivered 857 sessions of Horticultural Thevapy to 395 patients from across all 3 services. We thank ABF The Soldlers, Charlty, Albert Hunt Trust, Ellzabeth Moore and Stsr Foundation, the Royal Warrant Holders Association and the Headley Court Charity for their generous support of the Horticultural Therapy service whi(* enables DMRC'S patients to benefft fr￿n Mother N￿[8 outdoo￿. Below are some of Iheir quotes: °ltre gone from wheelchair to independent walhng. Andy and Jane have challenged me to stand for longer each time whHst gfvlng me plenty ofopporlunty." "It Can help movement in 811 parts of the bodf. "Irs not clinical, gmes you 8 GhanGe to zone out frnm the con*nt (liscussion al)out physlo, phy&cal athlty, clinical concems etc.. °Hothcutturnl Therapy freshens my mlnd.. Trnk-you foryour kn"ndn&ss and your time." Special thanks to Darlac Tools. Mr Fothergills, Southern TridenL CED Stone and RLrtland Willows wilh th8ir generous gifts in kind of compost, seeds, willow for wreath weaving, stone paving for the Vlllage Green and adapted pruning tools and our profound thanks to the staff at DMRC for their continued support of our Se￿iCe. The new Defenc£ Nation81 Rehabilttalion Cenlre (DNRC) which is being Lwilt at Stanford Hall alongsKle the NRC Page 4 HIGHGROUND PROJECTS UMrrED (A Company Umit8d by Guarantse) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achievements and perfomwnce (continued) is progressing well. The first medical lead has been appointed. and a tsrget date of end 2024 for treating the first patients has been seL The DNRC'S tKoximity to the wortd-class military faolity at NRC wil support the shanng of best practice in rehabilitation via the transfer and sharing of kTh)hvledge which was the late Duke of Westfflinsterfs vision when he created his magnfficent legacy at Stsnknd Hall. HuhGround hoped to contribute to this with its HorticuFtural Therapy knowledge and experience. Resettlement into th land-based Sector HighGround has delivered its pilot Rural Week at Askham Bryan College evidencing the charitys ability to strengthen its delivery of residential Rural Weeks at further land-based colleges. supporting Serrf1￿ leavers. reseNists and veterans into valuable emplo￿11)ent wilhin the land-based sector. We continue to deliver our Rural Weeks at Btcton College for Royal Marines Young Recruits who were un8ble to complete thelr trainiNJ on medical grounds. Thanks to funding frorn the Arm￿ Forces Covenant Fund Trust we delivered 2 Rurdl Experien￿ Weeks at 8icton College to impmve the rnental h8allh and welll)eing of veterans. Our referral p8rtners for these Rural Experience Weeks were Walklng With the Wounded. the Poppy Factory. Supporting Wounded Veterans, Step TcMJether Volunteering, Pl￿￿Outh Veterans Hub, Forces Empkiyment Chartty, On Course Foundatlon, Wood18nd Warrior Programme, Armed Forces Equine Charity and Bllnd Veterdns UK The 8Ctivities delivered durlng thls week ty Hi•Line, Pamienter FO￿e. the Outdoors G￿p, TG LarKlscapes and Budleigh Riding School all demonstrate th8t purposeful actlvity dellvwed by exper18 in a s8fe, peaceful environment can provide tsngible and lasting benefits to veteran& Due to our cA)ntinued growth through engagement wlth th8 ca￿er Transition Partnership (CTP) who promote our Virtsjal Rural Weeks programme to Servi￿ leavers as port of their resettlement, we are seeing last >parfs emergiNJ pathway from Virtual Rural week to Residenlial Rural bear signifiL*nt fruit. We a￿ grateful to the Forces Trust for their support of our Ifirtual Rural Weeks programme, to all the speakers. hosts and presenters who gbve so freely of their time and knowledge and to the An￿ed For<￿ Covenant Fund for their funding via the SustainirnJ Supp)rt programme. Our lar￿Sed sethr roadshow comp18ted its 2rKI year of attendiThJ Biitssh Forces Resetdement Servl {BFRS) careers fait5. Further engagement wilh new industry champions suth as the Grounds maintenan￿ Association (GLA). County Land & Business Association (CLA), Vinescapes a vill￿4tUre ￿Mpany, Dartmoor Na110r￿1 Park, Agriculiure Development and Advisory ser￿ (ADAS) to name but a few continue to expand th8 Charivs circle of irffluence, maintaining its currency arKI ats1￿ to advo(* and deliver significant advice 8nd guwjance to its benefici*ies. HighGround's CEO now represents H￿hGr0und at Cobseo Emthent Cluster meetings and (xjntinues to develop relationships with land-based organisations 8nd ￿p105￿rs, induding Histortc Houses. County L8nd and Business Associatton. Historic Botanic Gardens TTUSt. Woodland Heritage, National Gamekeepers Organisation. the National Trust, Grosvenor Est8t8 and Nurture Group. who recognise the skills and experience which military personnel bring to the workplace. Added to this. widening participation with Landex members gives HighGround stronger relationships going ft)rwards with Landbased (x)Ileges where further expansion as part of the charitys 5 year slrategy is a consideration. (Landbased (x)Ileges' Aspifing to Excellence is a sUbs￿lber organisation with 39 member cdleges and untversilios. HighGround's land-based sector roadshows have continued where we invite land-based employers including Tilhill, BSW Timber. Bartlett Trees, Trl White EngineeriNJ, BALI G1>LandP￿ape. National Skills Rail Academy, Pa￿5 HIGHGROUND PROJECTS LIMrrED {A Company Limited by Guarantse) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achlevements and pgrforniance (Contin￿1) RSK Hi Line arKI Avove to join us on our stand at BFRS careers fairs acn)ss the UK at Catterid(. AldershoL 8nd Tidworth Garrisons. This is also helping lo reinforce our message about what military personnel bring to the civlian whilst raising aWaTer￿ of HighGrourKI within the military (x)mmunity. Fundin A huge thank goes to all grant give￿ and chafiti'es that have supported HighGround's delivery: Elizabeth Moore & Star Foundation Scott Eredine Foundation British Sugar The Ennismore Charity Army Benevolent Fund AMi￿j For¢￿ Covenant Fund Trust Veterans Foundation Forces Trust Greenwich Hospital The Roy81 Marines Charity We are grateful to everyone vtho boughl our Christinas cards (thanks to Lynne and Robert Crisp for Iheir pictures). Black Orchard for thelr amazing calendar as w811 as all those who hav8 run, walked, opened gardens, or made and sold mamialade to raise preci(ius funds for HighGround this finan(>al year and w8 thank our fantastic Bookkeeper Ruth. • Investment pollcy and perforniance Excess cash resources were invested on a full discretionary basis during th8 year for income and growth. The Trustees are satisfied with the perfomiance of thi5 during in the year. which has resulted in a relum on capiati emplojed of 3.2% and an unrealised gain of £23.284 at 31 March 2024. Financial review Going Concern After makTng appropriate enquiries, the Trustees have a reasonable expertation that the Charitable Company has adequate resources to continue in operatK)nal existen￿ for Ihe foreseeable future. For this reason. they continue to adopt the going Goncern basis in preparing the financial statements. Further details regarding the adoption of the going concem basls can be fwnd in the accounling pdicies. • Re8erve8 poIIcy It is the Wicy of the charity to hold re8erve funds at a level of at least six months. running costs of th8 core activty. At 31 March 2024. the charity had total furKJs of £460,736 comprising unrestricted fvnds of £142,301 and restricted funds of £318,435. Of the unrestricted funds, £83,734 has been designated to be spent on horticultural therapy courses. This leaves a £58.567 general funds balan￿ at the year end, compared to £26,161 at the beginning of the year. Page 6 HIGHGROUND PROJECTS UMrrED (A Company Limited by Guarantee) TRUSTEES. REPORT (coNllNUED) FOR THE YEAR ENDED 31 MARCH 2024 • Investments pollcy Cash held in excess of immediate needs has been invested to maxifflise retum to the Charftable Company, on a low risk high income strategy. This is on a full discrelionary basis. Structur< governanc• and managemont The Company is registered as a Charitable Company limited by guarantee and was set up in Oclober 2012. The Company is constituted under its Artides of AsS￿"allOn and is a registered charity number 1151225. The latest version of its ArtFdes was agreed on 20 February 2013. During the latter half of the year erKJed 31 March 2024. a review and revision of these articles was undertaken. • MethodB of appolntm•nt or elertlon of Trustees The management of the Charitable Company is th8 responsibility of the Trustees who are elected under the tenns of the Memorandum of AssociatKIn. When the n*1 arises, new Trustees are appointed as Directors by existing members of the Comp8ny to S8rve as Trustees of the Charlty. • Financial risk management Anna Baker Cresswell is Execuliv8 Dirgctor with ov8raU resFK)nsibilty for fundraising and the day40• running of the Charitable Cornpany. On 1 November 2023 Jamie &isp was hired as the new CEO of HighGround. The Intenti(￿ is for Jamie to take over financial rosponsibilities from Anna and establish a dear and structured busin&￿ plan. As part of this decision. a finan￿ committee was eslabli5hed in September 2023. The CoTh#nittee meels monthly to track HwJhGround's financial reseTV8S agall￿t the Charitys business plan. The Trustees are conscious of the fact that the c￿tinued success of the Charitable Company is dependent on their abijty to continue to attract sufficbent fvnds to finance the charitable activities offered. John Kemer has taken responsibility for the Risk Register whith is a standlng Itern at quartety Trustees. leeiiTwJs. and Ruth Ritson provides quarterly financial upd8tes forthe TNstees. The risk to investrn8rrt associated losses arislng as a result of moV￿nent in the financial markets has been mlligated by placing the funds with a respected investment manager wlth full discretionary investrnent powers. Page 7 HIGHGROUP4D PROJECTS LIMrrED (A Company Limited by Guarantse) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Plans for future periods Our principal airns for the coming JEarare to: - Continue to deliver the Horticultural Therapy setvice at NRC Slanford Hall in accordance with the se￿1￿ Level Agreement between the Charity and DMRC Stanford Hall. We ain to incraase OT support wilh a target number of 500 additional sessions for an addilional 150 patients. - Work with the Academic Department of Military Rehab (ADMR) and dinical team at DMRC Stanford Hal to deveknp the evidence base supporting Horticultural Therapy as a rehab intervention for injured servlng pe￿nTre1. - Develop the Rural Weeks programme at other LarKlex colleges in UK regions using Blcton College as the main operating base and widen the partnership with Askharn Brydn College near York with an aim to gr¢)w the delivery model to a further 2 Landbased colleges over the next 5 years. In FY24125 we are aiming for a target number of 8 RW totalllng 64 attendees, 4 REW (32 attendees) and 4 Vlrtual RW (50 attendees). - Provid8 ongoing support for HighGround ts￿efi￿anaS as th8y conti1￿8 th8ir joumey through transition from military life back into civilian life. worf( vrith other Ser4ice charities to meet the needs of our mutual beneficlarfe& Enhanc8 and improv8 th8 role of our Advisory Panel to provKle more land-based work exp8rience and em￿OyMent opportunities and improve communicalron wilh the &nployers offering such opportunities. - Work with the Career Transitj'on Partnershp {CTr) to ensure serving per50nnel's eady awa￿r￿ of HvJhGround's services durtng their resettlement peri(Jd as thgy Start th8irtsnsttTOn to cavilian Itfe. - Develop Ihe Friends of HighGmund to enhance their fijndrdising efforts and double the number of Friends by 2025. - Widen the chariws relationship wilh Landbased (x)rporates and Defen￿ ￿MpanIeS to support the Charitys direction of travel. Members. Ilablllty The M8mber5 of the Company guarant88 to contribut8 an amount not 8XC89ding £1 to the assets of the Company in the event of winding up. The Membws are the directors named as Trustees and the Executive Director, who number 10. HIGHGROUND PROJECTS UPAITED (A Company Umltsd by Guarnntael TRUSTEES. REPORT (coKfiNUED) FOR THE YEAR ENDED 31 MARCH 21Y24 Staternnt of Truste8s' responslbilitle8 Th8 Ttustees (Mtho are also the directors of the Company for the putposes d company law) are responsible for twarirKJ the Trustees. Report and the financial Statements in ac(X)rdan￿ with applicable law and United Kingdom Accounting StaTKlards (United tfjrnjdom Generally Aw>ted Accounting Pradice). Company law r8quir8s the Trustees to prepare Ilnancial statements lor eath finanri81 . Under rnmpany ￿. the T￿￿teeS must not approve the financial statements unless they are satisfied thal they give a Irue and fair view of the state of affairs of t1￿ Coryany and of its incoming resources and application of resources. induding its income and expenditure, for that period. In preparing these financial statements, Trustees are required to: $818(* suitable accounling policies a￿1 then apFAy them consistentty; observe the Metr￿dS arKI prfndrAes of the Charities SORP (FRS 102)" make judgments and accounling eslimates that are ffjasonable and pNdent; slate whether appkable UK AccA)unting Stsndards (FRS 102) have been followed. subject lo any materlaE d8pattures dtsclos8d and explained in the fmancial statsmenty. prepare the finandal statements ￿1 the going concem basis urdess it is inapproprfate to presuw£ that the Companywil continue in busrnss. Th8 Trustees are r￿nSible for keeping adequate accounling that are sufficient to shtm arKI explain the ConwanVs transaclions and disdose wilh reasonabte a(%utacy at any time finan(xal posibon of the Company enable them io ensure that the finan(ial stalements o)mpEy with the Companies Act 2006. They are also responslAe for safeguaT(Jing Ihe assets of the Compgny and her￿e for laking re8sonal￿e steps for the prevenlKin arnl detection of fraud and other irregulaiilies. Approved by order of the members of the board of Trustees on 10 Juty 2024 and sigr*d on their behalf by. Mr S Caraffi (Ch8lr of Trustees) Page 9 HIGHGROUND PROJECTS LIMITED (A Company Umlted by Guarantee) INOEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 Independent Examlnerfs Report to the Trustees of Hlghground Prthcts Llmfted fthe Company.) I report to the tharity Tru8te8s on my &Yamination of the accounts of the Company for th8 year erKled 31 March 2024. Respons1￿lItIeS and Basis of Report As the Truslees of the Company (and tts directors for the purposes of (x)mp8ny law) YYJU are responsible for the preparatkln of the accounts In accordance with the requirements ofthe Companies Act 2006 ¢the 2006 Acf). Having sa11sf￿d M￿elf that the accounts of the Company are not required to be audited under Part 16 of the 2006 Acl and are eligible for independent examination, I r8POrt in respect of my WAamination of Ihe Companys accounts carried out under section 145 of the Charities Act 20111'th8 2011 Acf). In carrjong out my examination I have followed the Directions given by the Charfty Commission under sectlon 145(5)(b} of the 2011 ACL Independent Examtnerfs Statsment SinGe th8 Companls gross income exceeded £250.000 your examlner musl be a member of a body lisled in section 145 of the 2011 Act. I confimi that l am qualified to undertake the examination because l am a member of ICAEW, vthTth 18 one of the listed bodies. I have comFleted my examination. l (￿ffirM that rK> matters t￿ve come to my attention in connection wilh the examination giving me (Zuse to believe: a(￿unting Tecords were rK)t kept in r8sped of the Company as required by section 386 of the 2￿6 A¢ or the a(munts do nol accord with 11)ose records; or the a￿OuntS do not comply wtth th8 accounting requirements of seclion 396 of the 2006 Acl other than any requirement that the accounts give a and tsirf view which is not a matter consid8r8d as part of an independent examination; or Ihe accounts have not been prepared in ￿OrdanCe wth the methods and principles of th8 Statement of Recommended practi￿ for accounting and reporting by chariknes [applicable to charities preparirKJ their accounts in accordance the Financial Rew)rting Standard applicable in the UK and Republlc of Ireland (FRS 102)]. I hwe no cOn￿mS and have come across no other mattets in connection wtth lh8 examination to which attention sh(￿Id be drawn In this report tn order to enable a proper undwstandiro of the accx)urts to b8 reached. This report 15 made solely to the Companys Trustees, as a body, in accordance wlth Part 4 of the Charilles (Accounts and Reports) Regulations 2008. fvfy work has been undertaken so that I might state to the Companvs Trustees those matters l am required to stat8 lo them in an Independent Examine¢s Report and for no other purpose. To the fullest extent pomiitted ty law, I do not accept or assume responsiblltty to anyone other than the Company ar￿ the Companys Trustees as a ￿)dy. for my woth or for this ￿pOrt. Dated: Deborah &aham FCA Ryecroft Glenton 32 Portland Terrace Newcaslle upon Tyne NE2 1QP Page 10 HIGHGROUND PROJECTS LIMITED (A Company Limited by Guarantee) STATEMENT OF FINANCIAL ACTivrriES FOR THE YEAR ENDED 31 MARCH 2024 Restrlcted Unrostrlcted funds funds 2024 2024 Total funds 2024 Total 2023 Incomo fronL" Donations and lega(ies Invesiments 246.716 81.072 7.023 327.788 313,794 3.301 Total Income 246,716 334811 317,095 Expendliure on: Charitable activit 109,522 181.768 291290 352.126 Total expendlture 109,522 181,768 291290 352, 126 Net Incomel(expondituro) before nel gainslllosw) on Investments Net gainsl{losses) on Investments 137,194 (93.673) 23.284 43,521 23.284 (35,031) (4,020) 10 Net Incomd(oxponditurn) Transfers beiween funds 137.194 14,080 (70,389) (14.080) 66,805 (39,051) 13 Net movement in funds 151.274 (8W9) 66,805 (39.051) Reconclllallon of funds: Total funds brought forward Net movement in funds 167,161 151,274 226.770 (84469) 393.931 68.805 432.982 (39,051) Total fund• ¢arrled foThvard 318h35 141301 460,736 393,931 The Statement of Financial Acl1vit￿S inthd88 all gains and losses recognised in Ihe year. The notes on pages 15 to 28 fonn part of these financial statements. Page11 HIGHGROUMD PROJECTS LIMrrED (A Company Llmlted by Guarantee) SUMMARY INCOME AND EXPENDrruRE AccouKr FOR THE YEAR ENDED 31 MARCH 2024 Total fvnds 2024 Total fvnds 2023 Income Galnsl{losses) on Inveslments 34811 317.095 (4,020) Gross income in the reporting p•riod Less: Tolal eX￿ditU 358.095 (￿.290) 313.075 (352,126) Nel exp8nditur•l(income) for th• reporting period (39,051) The notes on pages 15 to 28 fonn part of these financial statements. Page 12 HIGHGROUND PROJECTS UMITED (A Company Limited by Guardntee) REGISTERED NUMBER: 08236843 BALANCE SHEEr AS AT 31 MARCH 2024 2024 2023 Noto Flx•d assèts Tangibl& assets Investments 926 1,347 219,281 10 250,514 220,628 Currnnt assots Debtors Cash at bank and In hand 11 2,277 178.411 222.769 180.688 Creditors: amounts falling due within one 12 (15rt10) 17,385) 210.222 173,303 Total aBs•ts less cuThent Ilabllltles 460.736 393,931 Totsl net a88ets 460,736 393,931 Charlty funds Restricted funds 13 31&435 167,161 13 13 83.734 58.567 200,609 2¢161 Unrestrickny funds- general Total unrestrithd funds 13 141301 226,770 Total funds 460,736 393,931 Page 13 HIGHGROUND PROJECTS LIMfTED (A Company Llmlted by Guarantee) REGISTERED NUMBER: 08236843 BALANCE SHEET {coKfiNuED) AS AT 31 MARCH 2024 Th8 Company was 8ntitl8d to 8X8mption from audit under Sed1(￿ 477 of the Companies Art 2006. The members have not requlred the company to obtain an audlt for the yBar in qu8Stlon In Kcordan￿ with Section 476 of Cornpanies Act 2006. The Trustees acknowledge their responsiblities for complying with the requirenients of the Act with respect lo a(Hx)unting records and preparalion of financial statements. The financd statements have been prepared in accordan￿ the provisions applitzble to entrlies subject to the smal cA)mpanies regime. The finandal statements were approved and auth￿iSed for issue by the Trustees on 10 July 2024 and signed on their behalf by. Mr S Caraffi Chair of Trustees The r￿te$ on pages 15 to 28 form part of th&8e financial siaterrents. Pag8 14 HIGHGROUND PROJECTS UMITED {A Con4>any Umlled by Guarantse) NOTES TO THE FINANCIAL STATEIAENTS FOR THE YEAR ENDED 31 IAARCH 2024 Ggneral Infonnation Hi￿grOUnd Proiets Limited is a tharitable ojmpany. limi￿1 by guaran1* in(xJrporaled in Eryland and Wale4 (x>mpany number. 08236843. charity nLMnber. 1151225. The a(klress of the registered off￿e is Preskn Smithy. ChathHI. Notlhumberfand. NE67 5DG. ACC￿ntIng policies 2.1 Basls of preparallon of financial statemerrt8 Thè financial statements have twn wepared in accordance with ts Charities SORP (FRS 102) - A(xxJunling and RepoFbng by Chatities: Statement of Recommended practi￿ applicable to charities preparing their accounts in accordance wilh the Fin￿claI Reporting StarKJard applicable in the UK and Republic of Ireland (FRS 11r2) (effective 1 January 2019). Ihe Financial Rewrting Standard applicable in the UK and Republic of Ireland (FRS 1W2) and Ihe C￿￿panIeS ￿ 2006. Highground Propcts Limitaj maets ts definitlon of a public beneffit entity under FRS 102. Assets and liabilitses are iniliauy te(x)gnised al hiskyical ￿$t or transaclion value unless 0thoTwise stated in the relevant accountlng Wicy. 22 Golng concern Th8 Trustees have (x)nswJered the finandal position of the Charitable Company at 31 March 2024, and in parti(xts the W)tential effects of situation surrounding the recent coronavirus pandemic. Whilst li is imp)ssible for the charity to operate whilst the practice of social isolatton 18 in p￿￿. since the easing of restrictions in 2022. the ChaTitatAe Company has been able to operate coutses ft)r both Horticulttjrdl T￿raPY and Rural Weeks adivrties without restriction. The Trustees are confidetrt that they have SuirK￿nt fvnds in hand for operational needs for at least the twelve morth fdlowing the apwoval of these financial statements to allow them to contirwe to adopt the going concém basis in preparing the financial stalements. 13 Incomo All income is recognised On￿ the Company has enliuemenl to the income, it is probable that the in￿)rne will be re￿ived and the amount of income receNable can be measured reliabty. Grants are ir￿luded in Statement of Finanoal Aclivities on a rtteivable basis. The balance of incon* received for speafic pury)08es Ixrt not experthd during period is shown in the relevant fijnds on the BaFarKe SheaL Where income is re￿ived in advance of entitlement of receipL its recognition Is defmd and induded in (¥8ditor8 as deterred income. Where entillement occurs before income is received. the irKome is accrued. Inwme tax recoverable ￿ relation lo dOr￿li0n5 r￿￿ed urKler Gift AKJ or deeds of Ix)venant is recogn19ed at the of the donalion. Income tax recovwknle in ￿lakn to investrnent Income is recognised at the fjme the Inveslment Page 15 HIGHGROUND PROJECTS LIMrrED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 PAARCH 2024 countlng pollcles (contlnued) 2A Expenditure Expendi￿re is recognised cmce ther8 is a18gal or Constn￿live obligation to transfer economic benefit to a third paty. it is probable thal a transfer of economic benefits wll be required in setdement and the amount of the obligatk)n can be measured reliably. Expenditure Is dassified by actiiryty. costs of each activity a￿ made up of the total of direct costs and shared costs, induding support costs invdved in urKlertaking each activty. Direci costs attfibutatde to a siryle actsvity are allocated directly to thal activity. Support sts are those ￿sts inGurred direclly in support of expenditure on the obiecls of the company arKI indude proje(I management carried out. Gov8manc8 costs are in￿ffed in connection with adminislration of the ￿rnpanY and c*MplIan￿ w￿h constitirtional and statutory requirements. Expenditure on charitable activil￿ is in(￿rred on direcdy undertaking the activities vthich further the c(￿pan￿S owives. as well as any asso()￿ support (J)sts. 15 Tanglblg r￿d assets and depreclatlon Tangible fixed assets are initially re(x)gnised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost l&ss accumulaled depreciaticm and any acojmulated Impalnnent losses. Al costs incurred lo bring a langible thd asset into its intended working u)ndition shoLdd be induded in the measurement of cost. Depredatlon Is charged so as to allcKate the cost of tangbi le fixed assets less their residual value over their estimatsd useful lives. using the straigh14ine method. Dep￿CIatIon is provtded on the folknying basis: Computer equipment - 25% Straight Line 2.6 Investments Fixed asset investsnents ar8 a fonn of financial instrument and are initially recognised at their transaction cost and subwuentty measured at fair value at the Balance Sheet date, un18ss the value cannot be measured reliabty in bthich case it is measured at cost less ￿paIrMent. Investment gains and losse& whether reallsed or unreallsed, are comblned and presented as 'Gai￿{LOs8eS} on investments. in the Staternent of Finanua Activities. 2.7 Penslons The Company operales a defined c%)ntribution pension scheme and the pension tharge represents the amounts payabk8 by the Company lo the fund in respect of the year. Pag8 16 HIGHGROUND PROJECTS UhllTED (A Company Limitad by Guarant8•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting polici051contlnued) 2￿ Fund accounting General funds are Un￿7cted funds whith are avadable for use at the discretion of the Twstees in furtherance of the general objectives of the Company and whith have Tr)t been designated for other purposes. Designat8d funds comprise unr6stricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each desi￿ fund is Set out in the notes to the financial statem8nts. Restiicted funds are funds whlch are to be used In ac(x)rdanc8 Mfjth spedfic restrictlons Imposed by donors or which have been raised by the Company for parti￿18r puTpos8s. The cosls of raisir4J and administering such funds are charged against the s*fic fund. Th8 aim and uso of each restsicted fund Is set out in the notes to the financial statsnwts. Inv8Stment income. gains and losses are allocated to the appropriate furKI. Income from donatlowa and legacies Restricted Unrestrfcted funds funds 2024 2024 Tolal funds 2024 21.850 224.866 22.672 58.400 44,522 283266 Grants 246.716 81,072 327,788 Tot fvnds 2023 funds 2023 funds 2023 Donations Grdnts 39,550 274,244 180,511 93,733 180,511 133,283 313,794 Page 17 HIGHGROUND PROJECTS UMrrED (A Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 21J24 Inveslmenl income Unrestricted funds 2024 Total funds 2024 Incom8 from local listed invesknents 7,023 7,orJ UnTrstricted funds 2023 Total fvnds 2023 Income from local Ilsled Investsnents 3,301 3,301 Analysis of expenditure by actlvhles Actfvldes undertaken directly 2024 Support Total funds 2024 2024 Genera Funds - OffKe overheads Horticulttwal Therapy ServKes Rural Weeks Supporting Wounded Veterans Positive Palhways Rural Business Improvement Manager 6.868 102,315 65,472 2,900 27.155 14.080 72,105 78.973 102,315 65A72 2.900 27,550 14.080 218.790 72,500 291.290 Page 18 HIGHGROUND PROJECTS LIMfTED (A Company Llmftad by Guardntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Anatysls of eXpendI￿re by actlvltles (contlnued) Acuvitles undert8ken Support Tot81 funds 2023 2023 2023 General Funds- Office ovetheads Horticulturdl Therapy Servi Rural Weeks Posibve Pathwa Rural Business ImproVem￿t Manager 20,474 112.098 72569 21.643 39.413 85,929 106.403 112.098 72,569 21.643 39,413 266,197 85,929 352,126 Pag8 19 HIGHGROUND PROJECTS LIMITED (A Conwny Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 la*RCH 2024 Anatysis of expenditure by activities {continued) Anatysi8 of direct costs Tolal funds 2024 fvnds 2023 staff costs Repairs General Offi￿ costs Travel and subsistsnce Rural Week ¢osts Advertlslng and maTkeling 126,981 155,675 5,383 7,782 69.093 9.551 4,473 75,942 23,819 218.790 266, 197 Anatysis of support costs General Posltlve funds Pathways 2024 Total 2024 Staff costs Rent rates Insurance Training and (￿fere[￿eS General office costs Travel and subsistence Legal and professional fees Governance costs Fundraising Loss on disposal of asset Career Fair Roadsty)ws 2.997 707 2,442 1,071 13.018 10,309 1,374 14.028 13.435 2.997 707 2,442 1,071 13,018 10,309 1.374 14.028 13.435 395 12,724 395 12.724 72,105 395 72,500 Page 20 HIGHGROUND PROJECTS LMITED (A Company Limiled by G￿r￿n100) NOTES TO THE HNANCIAL STATEMENTS FOR THE YEAR ENDED 31 IAARCH 2024 Anatysls of expa￿lture by aclivilies (conllnued) Anatysls of support Gosts (contlnued) General funds Pathways 2023 2023 Tot funds 2023 staff costs Rent and rates Insuran( Training a￿1 confererK*S General office costs Travel and subsistence Legal and professicmal fees 8,488 624 2,654 3,199 11,822 7.194 9,910 11,105 7, 768 23,165 624 2,654 3,199 11.822 7,194 9,910 11,105 7,768 23.165 Fundraising Career Fair Roadshows 85,929 85,929 Indepanthnt oxamirnrfs remuneration 2024 2023 Fees payable to the Companls indepermlent examlner for Ihe preparation and independ8nt examination of the Companvs annual aCcO￿ts 3.830 2024 2023 Wages and salari8S 120.212 8h77 148,485 14,531 1, 147 Contribution to defined contrltxjtion pension sthemes 129.978 164,163 Page 21 HIGHGROUND PROJECTS UMITED (A Company Umited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 S&2ff costs {contlnued) The average number of persons employ&l by the Company during the year was as follows: 2024 No. 2023 No employee re￿iVed remuneration amountirvJ to more than £60,IJ)O in elI￿r year. During the year. total remuneTrlion received by key management pe￿nnel, being the Executive Dired(Y and the CEO. amounted to £61.758 (2023: £39,394). 2023 remtmeration relates to the Executive Dire(kn onty as the CEO was only hired part bfdy Ihr(wgh the 2024 accounling peri(xl. Trustees. remuneratlon and expenses Dufir¥J the w. no Tntstees rewed any remuneration or other benefits (2023- £NIL). During the year. expenses totaling £1.847 were reimbursed or paid directy to 9 Trustees (2023 - £3.012 to 9 Trustees). These rdated lo travel expenses In￿rred by them to attend meelings in the pthmance of Iheir duties as Trustees. Page 22 HIGHGROUND PROJECTS LIMITED (A Cc*npany Llmlted by Guarant•e) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Tanglble flx•d assots Computer equipment Cogt or valuatlon At 1 April 2023 Addtbons Disposals 3,903 600 (998) At31 2024 1505 Doproclatlon At 1 April 2023 Charge for the year On dis>￿18 (603) At 31 March 2024 1579 Net Ixx)k Yalue Al 31 March 2024 926 At 31 ma￿ 2023 1,347 HIGHGROUND PROJECTS UMrrED (A Company Limited by Guaranteo) NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 IIARCH 2024 10. FIX￿ asset investments Other fixed List•d Total Cost or valuatlon At 1 Aptil 2023 Additions Disposals Revaluath)ns 219281 7.023 219,281 14.076 (7,053) 23.284 7.053 (7.053) At 31 March 2024 249,588 249,588 Net book value At 31 March 2024 249.588 At 31 March 2023 219,281 219.281 11. Debtors 2024 2023 Due wlthln one year Other debtot5 Prepayments and accrued in(xJme 2.106 751 Z106 171 2.277 12. Creditor8: Amounts falling due within one year 2024 2023 Other taxatwjn and social so￿[1ty Other creditors Accruals and deferred income 3,332 223 10.141 3,830 15A10 7,385 Page 24 HIGHGROUND PROJECTS UMITED (A Company Llmiled by Guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13. Statement of funds Statement of fvnds - Current year Balance at 31 March 2024 Balance at 1 Aprfl 2023 Gainsl (Losses) Incom• Expenditura Inlout Unrastrlcted Deslgnated funds Hortl(￿ltural Therapy c1￿￿eS 200.609 {102,795) (14.080) 83,734 Gerwal funds Generdl Funds 26.161 178,973) 58.567 Total Unrestrlcted funds 22&770 88,095 (181,768) {14.080) 23384 142,301 funds Rural Weeks Rural EmployTrent Manager Fund Positive Pathways Supporting Wounded Veterans 226.716 (65.387) 253.793 (14080) 14080 74.697 (27.155) 47,542 (2.900) 17.100 167.161 24716 (109,522) 14080 318A35 Totsl ol funds 393.931 334M11 (291,290) 23.284 460.736 Page 25 HIGHGROUND PROJECTS LIMrtED (A Company Llmited by Guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13. Statement of funds (conlinued) stat￿ent of funds . prior year Balance at 31 March 2023 Balan{￿ al l Apnl 2022 Gain (Losses) Incom8 Expenditure Unrestrlcted funds Designatsd funds Horticultural Therapy courses 320. 704 (112.273) (7,822) 200,609 General funds General Funds 136,584 (106,403) (4.020) 26,161 Total funds 320.704 136,584 (218.676) (7.822) (4.020) 226, 770 Reslrlcted funds Rural Weeks Rural Employment Manager Fund Positive PathwayE 24.713 140. 145 (72,394) 92,464 31,591 (39.413) 7.822 55,974 40.366 (21,643) 74.697 112.278 180.511 (133.450) 7.822 167.161 Total of funds 431982 317,095 (352.126) (4,020) 393,931 Page 26 HIGHGROUND PROJECTS LIMITED (A Company Llmlted by Guarnntso) NOTES TO THE FINANCIAL STATE1AE￿s FOR THE YEAR ENDED 31 PAARCH 2024 13. Statement of funds (continued) Designated fund HoriKultural Therapy Courses - A grnnt of £450,000 was received from Hea(ll8y Court ￿alIty In 2020 10 support the running of Horticuliural Therapy Courses at DMRC Stanfonl Hall over the n8Xt six years. During the year, 8 transfer to the Rlffal Employment Manager Fund of £14.080 was ￿UIred to de8r the excess expendhure. Restricted fundB Rural W￿- Grants and d￿atiOnS of £226.716 were received in year. wilh £65W7 of fuThts ulilised dwirvJ the ￿r. with Ihe remaining balance ￿Ing carried forwa￿ to be used in 2024125. Rural Emplo￿nent Manager FLmding - l+kn g￿nts were received in th& year. £14.(180 of furKls were utilised during th8 year. There was no t￿ought fThard surplus ￿ this fund and so a transfer from designated fijnds was rewired to thar the exc&ss expendI￿re. P05ilive Pathways - No grants were received in the sEar. £27.155 of funds ulilised duritKJ the year, with the remaining balance being ￿led forward to be used in 2024125. Supporbng Wounded Veterans . Grants of £20,000 ￿re recwved in the w, £2.9(h) of furnjs ulllised duTmg the year, wlth the remaining balance carried forward to 2024125. Page 27 HIGHGROUND PROJECTS LIMrfED (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL sfATEMEi¥rs FOR THE YEAR ENDED 31 MARCH 2024 14. Summary of funds Summary (rffunds . current year Balance at 31 March 2024 8alanco at I April 2023 Transfern Inlout Galnsl (Losses) Income Expendiiure Designated funds General funds 200.609 26.161 167.161 (101795) (78.973) (109,5221 (14080) 88,095 246.716 58,567 318N35 Restricted funds 14080 393.931 334811 (291,290) 23284 460,736 Summary of funds - prlor y•ar Balance at 31 Ma￿h 2023 Balance at l Awil 2022 Incom8 Expend Transfers Gain i￿out (Losses) Designated 320,704 (112.273) (106.403) (133.450) (7.822) 200,609 26.161 167,161 General funds Restricted funds 136.584 180.511 (4.020) 112.278 7,822 432,982 317.095 (352.126) (4,020) 393,931 15. Rolat•d party transacdons The Chaiitable Company has not enter&1 Into any rdated party transaction durtThJ the sear. nor are there any (wtstanding balarths owing beiweon related parties and the Chaiitable Company at 31 Marth 2024. Page 28