Charity registration number 1183004 HEATHROW COMMUNITY TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
HEATHROW COMMUNITY TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Prabhiot Basra (Deputy Chair, appointed Chair 9 December 20211 Richard de Belder Ireappoinled 17 April 20201 David Cottrell Gennie Dearman Alison Keeley Michael Murphy Jason Knight lappoinled 11 February 20211 Aled Patchett (appointed 13 May 20211 Nigel Milton lappoinled 25 October 20211 CEO Claire Knight (from 31 August 20211 Rebecca Bowden (to 24 June 20211 Charlty number 1183004 Registorad offic The Compass Centre Nelson Road Hounslow London TM 2GW Independent examlner Alliotts LLP Friary Court 13-21 High Street Guildford Surrey GU1 3DL Bankers Barclays Banks plc 1 Churchill Place London E14 5HP Metrobank One Southampton Row London WC1B SHA
HEATHROW COMMUNITY TRUST CONTENTS Pagg Trustees. report Independent examinerfs report Statement of financial activities 14 Balance sheet 15 Notes to the financial statements 16-22
HEATHROW COMMUNITY TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 The trustees present their annual report and financial statements for the year ended 31 December 2021. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities." Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191. 11 has been a very challenging year for both our Trust and the community groups we support. The ongoing impact of COVID-19 has b*n felt throughout the local communities, highlighting inequalities, and bringing new needs lo the surface. Mthile our funding income has still been signifi¢anlly reduced compared with pre-pandemic levels, the on- going support and generosty of our primary funders and our securing a one year partnership with the National Lottery Community Fund have enabled us lo ensure that the Trust continues to remain financially robust throughout 2021 and well into 2022. Of the reduced funding available, the Board continued lo focus remaining grants towards directly and immediately helping our local communities to maintain their operational stability, as well as refocusing on the emerging needs in their local areas. This adjustment lo our fvnding focus was pul in place within a few weeks of the UK lockdown being announced in 2020 and highlights the agility we have as a Trust. The partnership with the National Lottery Community Fund focused funding specifically on groups in Hillingdon, which also enabled the Trust lo reach new groups. Nolwilhslanding reduced funding income, we have been able lo support a significant range of community needs and continue to make a real difference during these Challenging limes. I would like lo thank all our Trustees for their continued support and hard work during these difficult times. Merged reporting Heathrow Community Trust CIO was formally approved by the Charity Commission on 16th April 2019. The CIO had been set up by Trustees of LHR Airport Communities Trust with a view lo limiting Trustee liability for Trust aclivilies. All activities and liabilities of LHR Airport Communities Trust were Iransfeired lo the new CIO in May 2019. LHR Airport Communities Trust had no activity in 2020 or 2021, and was formally dissolved in October 2021. Trustees of LHR Communities Trust became Trustees of Heathrow Community Trust al the lime of transfer of business. ICAEW have advised that where the purpose of the incorporation is merely to protect the trustees lor similarl but there is no significant change to trLJStees, benefiaaries or the purpose of the charity then the charities are in effect merged and practically this means that one set of accounts is prepared under the new name.
HEATHROW COMMUNITY TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Objectlves and actlvltles CHARITABLE OWECTS as sat out in Heathrow Community Trust constitution 2019.. The objects ol the CIO are lo advance such charitable purposes (according to the law of England atKI Wales) as the trustees see fit from time to time for the benefit of the general public and in particular bLJt not oyclusively for the public benefit predominately of people living and working in the local community aroLJnd Heathrow Airport and Ihe neighbouring boroughs (the 'Local Community'l and Other parts of the UK, through the making Df grants, awards, donations and the provision of other financial and non-financial support lo.. a. protect and promote the physical and natural environment. induding but not limited to the conservation and protection of wildlife. the promotion of biological diversity, the support of climate change mitigation initiatives and raising awareness of such issues in the Local Community., b. provide or assist in the provision of facilities in the interests of social welfare for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disability, financial hardship or social circumstances or for the public al large wrfch the object of improving their conditions of life., c. help young people up to 25 years of age in the Local Community through the funding of programmes designed to raise aspirations and improve life opportunities, induding but not limited to the provision of skills and vocational training, apprenticeship schemes and other programmes., d. provide SLJPPOrt to address financial hardship in the Local Community e. develop the capacity and skills of members of the Local Community so that they are better able to identify and help meet their own needs and to participate fully in society. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Our vlslon Is of happy, healthy local communltles where everyone has the opportunlty to Ilve a rewardlng and fulfllled Ilfe, and the value of glvlng somethlng back to your communlty Is recognlsed. Our mission is lo enable significant positive change in the lives of people in the communities neighbouring Heathrow Airport, and the wider community in the UK. We do this through funding voluntary and community organisalions. working in partnership with others, and by supporting employees of HealhrowAirport Ltd lo give back to their ¢ommunilies.in 2021 we did this through awarding grants in the following funding streams in support of our charitable objectives. Covid19 Resilience Grants Hillingdon Covid Response Fund - money from the National Lottery Community Fund supported Covid19 emergency funding, including this programme operated by Heathrow Community Trust 11 should be noted that grants awarded do not lie directly through lo the aecounls due to accounting timing differences such as recognition of grants wlh multiple award payments. Our aim is to be an organisation which promotes social change by using all our assets 8nLY those of OUT donor organisations - our financial donations, our knOedge, people and networks, our grant making, programmes and partnerships. INe aim lo make 8 difference by leveraging support and resources and enabling colleagues lo support the communities neighbouring Heathrow Airport and those in which they live.
HEATHROW COMMUNITY TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Achlevements and perfom)ance Highlights for 2021.. £185.000 of new grants awarded. 29,290 Total beneficiaries 3,426 Children and young people wth increased awareness about their future, or having developed a new 15,669 over 65s improved quality of life or wellbeing 46,718 volunteering Hours Carried Out Ilo deliver projeclsl 191,899m2 Land Maintsined or Improved. 98 trees planted In 2021. Heathrow Community Trust received a donation from Heathrow Airport Limited of £125,000 (£425,000 FY201. Income from noise fines for the year lotalled £2,500 (£10,900 FY201, this donation supports cur Environmental & Sustainability grants programme. Due to the ongoing impact of the Covid19 Pandemic, Heathrow Airport Ltd IHALI, employees and employees of Team Heathrow companies were not able to continue their fundraising activities in 2021 for Heathrow Community Trust as they had pre-pandemic. The Trust had 6 runners in the Virtual London Marathon and in person London Marathon in 2021 raising a total of £9,422, and HAL employees held HCTea Parties to welcome colleagues back to the office, raising a further £470. In December 2021, in order to support the Trust's planning for the future. we carried out our seventh annual survey of local community organisalions and charities to delemiine what their key needs were in terms of types of funding and key issues, with 75 organisations participating. They told us that the three biggest challenges facing their organisations were.. Sustainable funding Generating income Raising income for programrnes that are already successful The majority respondents had changed their services or developed new services to meet the needs of their communities. For many, demand for services increased while their overall income decreased. A list of grants made during the year is published on the Trust's website. Each Grant Programme is served by a Grant Review Panel which consists of volunteers who are a mixture of HeathrowAirport employees and members of the local community. Grant Review Panel members support the fund with their local understanding of applicants and ability to assess the Impact of a grant on the local community. They also help to bring improved engagement with local groups, encouraging more applications.
HEATHROW COMMUNITY TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Impact of Covld19 Pan(lemlc In 2020, the Trust responded lo the pandemic by pausing all previous grant rounds and opening the Covid19 Emergency Response Fund, awarding small unrestricted grants to help organisations to respond to the emergency. In 2021, the Trust adapted this programme into the Covid Resilien Fund, awarding small unrestricted granls to help organisations adapt lo the 'new normal,, supporting the changes community groups had lo make lo deliver services. £90,000 was awarded, supporting organisats.ons working with a wde range of communities induding refugees, victims of domestic abuse, isolated older people and young people with additional learning needs. Heathrow Community Trust secured a contract with the National Lottery Community Fund to deliver the Hillingdon Covid Response Fund. This funding provided further support for groups within the borough of Hillingdon, with £95,000 awarded lo 18 organisalions. HeathrowAirport Ltd was badly affected by the pandemic, but despite this has continued to donate and has pledged continued support as air travel begins to pick LJP. In the Heathrow 2.0 sustainability strategy, published in February 2022, one of the targets wthin the document is 'At least £6.5m in funds generated for the Heathrow Community Trust by 2030,. This clearly indicates HealhrowAirport Lld's ongoing commitment to the Trust. In 2021, the HealhrowAirport Ltd donation was £125,000 and noise fine income was £2,500. Factors affecting perfonnance Heathrow Community Trust awards grants lo third parties to deliver projects, this funding is only ever part of the total funding required lo deliver the project, and delivery of these projects is monitored by Interim and Final project reports. From lime lo time projects do not proceed as planned due to a variety of reasons the most fJ)mmon of which are". Problems in securing planning permission Problems in reaching intended target beneficiaries Problems with the grant reapients being unable to raise sufficient funding to complete a project. If problems are encountered in delivery. the Trust will work with grant recipients lo agree a way fOnard. In the event that a project must be cancelled or prematurely closed, Committed funding is written off, bul this is a rare occurrence. Ongoing grants are reviewed quarterly in order to ensure that any funds no longer required can be written off and made available for other grants. All ongoing projects funded pre-pandemic were affected by Covid19, with 159 active at the start of 2021, and the team worked closely with all grant holders lo change grant conditions ID support new activities. In addition, many projects were delayed and time frames for ongoing projects now extend into late 2022 for completion. Summary of Objectives for 2021 Our Values 1. Our beneficiaries come first 2. We are open and transparent 3. We work with integrity 4. We value and respect others 5. Everyone has the right to be safe 6. We continuously improve
HEATHROW COMMUNITY TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Our key Prlorltles In 2021 were: 1. Supporting the voluntary & community sector's ability to respond to and build back Irorn the Covid19 pandemic. We will enable our local voluntary and community organisalions lo provide support lo those most adveisely impacted by the pandemic and its after-effecls by awarding unreslricled funding in a timely and effective way. Improving the voluntary and community sector's ability to support local communities and increasing the support available to the sector. Recognising that the local voluntary and community sector faces significant challenges, we aim lo support strengthening the voluntary sector by priorib.sing funding for local, smaller, organisalions, helping successful organisalions lo develop and increase financial suslainabilily and long-lerm operation through provision of support to Apprenticeship training, and improve ftjndraising. through supporting Heathrow Colleagues in skills-based Advo¢ale volunteering, but also by seeking out ways to leverage our own grant making by working wf(h other funders. On Hold The below priorities remained on hold for the majority of 2021 so that the Trust could focus Its Imited resour$ on Covid relief funding. Towards the end of 2021, trustees reviewed the priorrfties and worked lo re-open three previously paused grant rounds. The Projects for Young People grant strèam opened lo new applications in November 2021, with Environment and Sustainability opening in January 2022 and Communities Together opening in February 2022.No grants were awarded for these streams in 2021. 3. Environment and Sustainability Improving the quality of life in our local communities by supporting sustsinable development and sustainable use of resources in community buildings," increasing community awareness of suslainabilily., increasing the availability and accessibility of community green spaces, wooded areas. areas of natural beauty or biological areas of importance., increasing the amount of materials reused or recycled in the area. 4. Communities Together Improving the quality of life in our local communities by bringing communities together. reducing isolation and social exdusion, and increasing ¢ommLJnity cohesion and understanding beeen communities. 5. Young Peoplè helping our local communities by creating opportunities for young people up to age 25 10 increase their resilience, raise their aspirations. improve their life opportunities, or break down barriers lo employment through skills development. 6. Heathrow Colleagues providing support to the employees of Heathrow Airport Ltd in their charitable work and volunteering inilialives in the area neighbouring the airport, and across the United Kingdom. This priority was put on hold in March 2020 as a result of Covid19 and will re-open in 2022.
HEATHROW COMMUNITY TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Flnanclal revlew 2021 Financial performance Income totalled £431,35512020'. £543,375), which included a donation from Heathrow A'rport Limited of £125,000 12020. £425,000). Income £55£0 aEiYit¢5. f91J26£Q_ £10.747 C tULL.52?. Total expenditure was £333,579 12020.. £593,209), comprising grant funding activities £195,768 12020.. £441,901). govemance Costs £17,389 {2020'. £89,0121 and support costs £120,42212020.' £62,296}. ExpenditsJl• Retsined reserves al 31 December 2021 were £343,462 12020.. £245,686), of which £331,606 12020.. £245,533) were unrestricted. Cash balances held at the year-end were £527,05612020." £713,697).
HEATHROW COMMUNITY TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Investment pollcy Cash is an investment and is held in flexible short-temi inlerest-bearing accounts with the charity's bank. This policy is considered by the Trustees lo be appropriately conservative with little financial risk. The Trust does not rely on investments in order to generate all its grant-making income and as such investment is aimed at maximising the amount of grant-ftjnding available. Trustees review the investment policy annually. Reserves policy The Trust has accumulated general unrestricted funds lfree reserves) of £331,806 12020.. £245,533). The Trust's assets are available and adequate to fulfil ils obligations. The Trust reviews f(5 resetves policy on an annual basis and in 2021 also reviewed the policy Quarterly in light of the impact of Covid19. The Trust's aims to hold unrestricted funds of £200,000 as a contingency to cover up lo a maximum of two years running costs lo administer existing commilmenls. The reserves policy will continue to be reviewed regularly to ensure the Trust is not holding unnecessary funds. Going concern The Trust's funding is only agreed on a yearly basis. If funding were lo be discontinued or significantly reduced, the charity has lo obtain af(emalive Sources of funding or curtail its activities as was the case in 2020 and 2021. At the time of approving the financial slatemenls, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees continue lo adopt the going concern basis of accounting in preparing the financial slalemenls. Unreslricled Reserves are calculated to allow the Trust to undertake an orderfy cessation of activities should that be required. Restricted ftjnds are sufficient to cover all funding commitments (grants awarded). Further details regarding the adoption of the going concern basis can be found within theAccounting Policies note on page 16 of the finanaal statements. Public Good The Trustees have complied with their duly under Section 17151 of the 2011 Charities Act to have due regard to the Charity Commission's guidance on public benefit when reviewing aims and objectives and in planning future aclivilies. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have sel. Restrictsd Funds Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor or trust deed. During 2021 restricted funds were received from Noise Fines (Environmental & Suslainabilityl and National Lottery Community Fund IHillingdon Covid Response Fund). All other funds are unreslricled and are expendable al the discretion of the Trustees In the furtherance of the objects of the Trust. The Trustees may allocate part of the charity's unreslricled funds lo be used for particular purpose5 in the future. The Ttuslee5 have the power to re-designate such funds wlhin unrestricted funds.
HEATHROW COMMUNITY TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Covld-19 Pandemlc As a grant-making Trust. Heathrow Community Trust operations were not affected by the necessary virus control measures and continued to operate smoothly throughout the lockdown periods. including holding Board of TrLJStees and Grant Review Panel meetings over Teams and Zoom. The Pandemic however had a catastrophic impact on the business of Heathrow Airport Ltd, resulting in a reduction in their planned annual donation in 2020 to approximately 600/0 of previous years, and less than 200A of the pre- pandemic donation in 2021. In addition to the reduction in this donation, all planned income from sporting events and other fundraising activities was cancelled as a result of the pandemic, with some activities restarting in late 2021. Accordingly, Heathrow Community Trust focused the 2021 budget on two Covid19 Resilience Grant rounds and secured an agreement with the National Lottery Community Fund lo provide additional funding for the London Borough of Hillingdon. Trustees and Volunteer members of the Grant Review Panels continued to carry out their roles through virtual online meetings. Support cost reductions pul in place in 2020 were maintained in 2021 including retaining the CEO'S contract as three days per week and working with a reduced admin team al Groundwork South. The Trust was also wilhoul a CEO for two months due to a change of stsff, wlh the outgoing CEO supporting in a voluntary capacity lo ensure a smooth Iransilion, which enabled further cost savings. Trustees reviewed the Trusts Reserves policy in August 2020, and Quarterly thereafter. The pandemic has had a huge impact on the local ¢ommunily and support is needed more than ever. Heathrow Airport Ltd continues to be badly affected by the pandemic, bul despite this has continued to donate in 2021 and has continued support into 2022 as air travel begins to pick up. In the Heathrow 2.0 sustainability strategy. published in February 2022, one of the targets within the document is 'At least £6.5m in funds generated for the Heathrow Community Trust by 2030,. This clearly indicates Heathrow Airport Ltd's ongoing commitment lo the Trust. structure. governance and management Heathrow Community Trust is a CIO approved by the Charity Commission in April 2019. The affairs of the charity are governed by the Board ofTruslees. The trustees who served during the year and up lo the dale of signature of the financial slalements were". Prabhiol Basra (Deputy Chair, appointed Chair 9 December 20211 Richard de Belder Ireappoinled 17 April 20201 David Cottrell Gennie Deamian Samina Hussain Irelired 13 April 20221 Alison Keeley Michael Murphy Jason Knight lappoinled 11 February 20211 Aled Patchetl {appointed 13 May 20211 Nigèl Mitton lappoinled 25 October 20211 Andy Kerswill Ichairl (retired 9 Dember 20211 Chris Johnston Irelired 13 May 20211 Caroline Hui (retired 9 September 20211
HEATHROW COMMUNITY TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Trustees are appointed, elected or re-elected for a fixed term of three years, with the option of extending for a further three years and, in addition, the Board Can resolve by 8 750/0 majority that il would be in the best interests of the charity for a particular trustee lo be reappointed lor a further consecutive term in office. New Trustees are recruited by advertisement andlor recommendation by existing Trustees, the CEO. or members of Heathrow's local community neOrkS. Three of the nine trustees are employed by Heathrow Airport Holdings Ltd. Heathrow Airport Holdings Limited is the major donor ID the Trust,. the trust operates as a separate entity when setting its aims and objectives according lo ils conslitulion. The donation from Heathrow Airport Ltd is given in Unrestricted funding wilhoul conslrainl regarding its use other than for charitable purposes. Prospective Trustees are offered the opportunity to attend a Board meeting and are interviewed by the Chair, an additional Trustee and the CEO. If successful, their appointment is confirmed at a Board meeting. An induction programme is agreed and implemented for each new Trustee, covering all aspects of the role and the organisalion. All new Trustees re1ve a structured induction programme, are offered the opportunity lo participate in One or more of the Grant Review Panels or other Board sub-committees and may visit as many projects funded by the Trust as they wish. All Tiuslees are required to provide Information on potential conflicts of interes15 and a Conflicts of Interest Policy is in placè lo ensure management of any conflicts. In addition, Trustees must declare any lated parties (none identified for Trustees in 20211. The board seeks lo ensure that all ils activities operate in compliance with all relevant legislation and regulation. Its work includes selling the strategic direction of Heathrow Community Trust, agreeing the financial plan, monitoring performance and having overall responsibility for all funding decisions. In addition. the board is responsible for appointing the CEO who is responsible for day to day running of the organisation. The current CEO, Claire Knight, was appointed by Trustees in May 2021 and commenced employment in August 2021, reporting to the Chair of the Board of Trustees. The previous CEO, Rebecca Bowden was appointed by Trustees in 2015. Originally employed directly by Heathrow Airport Limited until 30 September 2020, Rebecca left the Trust's employment in June 2021. The Board of Trustees met five times in 2021 for Board meetings. The Trustees have considered the major risks to which the Trust is exposed and, as such, have reviewed and established systems and procedures to mitigate those risks. The Risk Review SUCommIttee, who report lo the Board quarterly, review the Risk Register and associated policies and procedures, lo ensure regular quarterly reporting of risks to the Board. The Trustees consider the main risk to the Trust being HealhrowAirport Limited continuing to pay ils donations or lo reduce these subslanlially. This risk was activated during 2020 when the company had lo reduce ils planned donation as a result of catastrophic impact of the pandemic on the airport. The Trust only recognises this income where there is a reasonable assurance of receipt and were able lo move swiftly lo adju51 planned gr1 funding rounds to take account of the reduction in income. The Trust recognises full funding commitments in the year in which funding is awarded in order lo avoid carrying forward commitments for which funds may subsequently not be available. The Trust presents an update on ils performance, activities and plans lo the Heathrow Airport Holding GroLJP Charities and Communities Commitlee on a Quarterly basis to help secure continued fLJnding, in addition Ihe CEO presents annually to the HeathrowAirport Holding Group Executive Committee. The Trust directly engaged as ils agent Groundwork South Trust Limited lo manage ils grants programmes, helping it to offer a source of expert advice to help applicants build strong grant bids and carry out due diligence checks on applications and ongoing grants. The Treasurer chairs the formal quarterly Finan Commrttee. reporting to the Board ofTruslees.
HEATHROW COMMUNITY TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Grant Revlew Panels Each Grant Programme administered by the Trust Is overseen by a Grant Review Panel which has a minimum of one Trustee a5 member, and Includes repre5enlalives from across the local community, individuals with expert knowledge of the subject matter and employees of Heathrow Airport Ltd and other airport companies. This helps the Trust lo build on ils knowledge of local community needs and as a result to become more effective in grant making. Each Review Panel is granted delegatèd powers to approve funding allocations of up to £5,000. Applications for funding of more than £5,000 are submitted. with a recommendation from the local panel, to the Board of Trustees for consideration. Funding criteria, application forms and deadline dates for each funding St8M are published on the Trust's website. HeathrrswComrnunltyTntstBo3rdof Trustees Fincor Rlgk Revlew Group HAPi8rant Covid19 Rtview PaDel and Hillingdon Covid Response Fund Panel EnviTonment and Sustainability giantreview panel la150 rev Development applnsl Grantsfor Youn8People 8rantrevlew panel Cotnmunities Togethergranl reviewpanel 10-
HEATHROW COMMUNITY TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Covld 19 Reslllen¢e Grants During 2021 this Grant Review Panel consisted of the Chairs of each of the following grant review panels panels lor their depuliesl.. Projects for Young People, Environment and Sustainability. HAPI and Communities Together. The panel oversaw a programme to award grants of up to £5k Ljnrestricted core funding to support organisations that Heathrow Community Trust had fvnded in the last 5 years to enable them to respond to the Covid19 emergency. Hillingdon Covid Response Fund Grant Programme This programme awarded grants of up lo £10,000 to organisalions in Hillingdon to support them to deliver services to communitie5 affected by Covid19. £95,000 was available in iwo funding round5, to be ulilised by the end of January 2022. The funding was for this programme was provided by the National Lottery Community Fund and awarded by a grant review panel made of members of the Communities Together, Environment and Suslainabilily, and Projects for Young People panel, with the addition of a member of staff from Hillingdon Borough Council. The below programmes were on hold for the majority of 2021. They were reviewed in autumn 2021 and reopened in late 2021 and early 2022 with the levels of funding available as below. Grant5 for Projects for Young People and Environment & Sustainability Grant Programmes Each of these programmes awards grants of up lo £7,500 for 1 year. This is a single stage process, wrth applications reviewed by the panel who have delegated authority lo award up lo £5,000. Recommendali(¥)s for awards over £5,000 are made to the Board of Trustees for review. Communities Together Grant Programme This programme awards grants of up to £2,500 for 1 year. All applications are all assessed by the panel in a single stage process. The panel formally reports lo the Board of Trustees once per annum. The three grant streams below vRre closed throughout 2021 and have not yet re-opened. Communltles Together Large Grants Programme In response lo gaps identified in our funding programmes. during 2018 a new funding programme was introduced.. Communities Together Large Grants awards up lo £25,000 for projects which focus on bringing commUneS together wth specific beneficial outcomes for adults aged 25+. Grant applications are reviewed by the CommLJnities Together Grant Review Panel in a ho-stage process, with funding recommendations being made to the Board of Trustees. Heathrow Active People Initiative IHAPil Grant Review Panel The HAPI grants review panel meets four times per annum and reviews applicatlons for funding in HAPI grants programme lup lo £2,500) and Staff Matched Funding lup lo £2501. Applications to these programmes are only open lo employees of Heathrow Arport Limited. The panel formally reports lo the Board of Tiustees once per annum. Development Grants In response to an identified funding gap. Heathrow Community Trust pul in place a grant programme awarding funding of up to £10,000 for projects to identify community needs, carry out environmentsl audits or assessments, or projects which ll11 remove blocks and enable future work to support the community. Such projects are reviewed by the Environmental & Sustainability Grant Review Panel with funding recornmendations being made to the Board of trustees. General Grant Making Policy Grant Applications musl demonslrale that they have mel the key funding criteria of the relevant grant scheme all of which are available from our website. Our Grant Making Policy is published on the Trust's website. Grants are awarded to projects taking pla¢e in the boroughs of Ealing, Hillingdon. Hounslow, Slough. Spellhorne. South Buckinghamshire, Runnymede, Windsor & Maidenhead and Richmond, unless covered by the HAPI or Matched Funding streams which are not geographically reslricled. Employees The Trust's CEO Rebecca Bowden left in June 2021, and the new CEO Claire Knight was appointed in May 2021, joining the Ttusl in August 2021. The CEO of the Trust is not a Trustee and does not havè the responsibilities of a slatulory director.
HEATHROW COMMUNITY TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 The trustees, report was approved by the Board of Trustees. Prabhiol Basra (Chairl Trustee Aled Patchett Trustee Date.. 1411012022 12-
HEATHROW COMMUNITY TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HEATHROW COMMUNITY TRUST I report lo the Iruslees on my examination of the financial slalemenls of Heathrow Community Trust (the charilyl for the year ended 31 December 2021. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the financial slalements in a¢¢ordan¢e with the requirements of the Charib'es Act 2011 Ilhe 2011 Act}. I report in respect of my examination of the charity's financial stslements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examinerfs statement Since the charity's gross Income exceeded £250,000 your examiner musl be a member of a body listed in section 145 of the 2011 Act. l confirm that l am qualified lo undertake the examination because l am a member of ICAEW, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause lo believe that in any material respect". accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act.. or the financial statements do not accord with those records., or the financial slalements do not comply wth the applicable requirements ¢onceming the fom) and content of accounts set out in the Charities (Accounts and Reportsl Regulations 2008 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. I have no ¢oncems and have Come across no other matters in ¢onne¢tion with the examination to which attention should be drawn in this report in order lo enable a proper understanding of the finanryal slalements lo be reached. Chrlstopher Calrns Bsc FCA Alliotts LLP Friary Court 13-21 High Street Guildford Surrey 1711012022 Dated. Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in Section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am member of ICAEW, which is one of the listed bodies. 13-
HEATHROW COMMUNITY TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021 Unrestrlcted Restrlcted funds funds 2021 2021 Totsl Unrestrfcted Restrlcted funds funds 2020 2020 Total 2021 2020 Not9$ ncome from. Donations and legacies other trading activities Investments 308,527 17,273 55 103,000 2,500 411,527 19,773 55 471,395 9,287 2,519 49,274 10,900 520,669 20,187 2,519 Totsl income 325,855 105,500 431,355 483,201 60,174 543,375 Ex enditure Charitable activities 239,782 93,797 333,579 533,188 60,021 593,209 Net incomellexpenditurel for the yearl Net movement in funds 86,073 11,703 97,776 149,9871 153 149,8341 Fund balances at 1 January 2021 245,533 153 245,686 295,520 295,520 Fund balances at 31 Dec9mber 2021 331,606 11,856 343,482 245.533 153 245,686 The statement of financial activities indudes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 14-
HEATHROW COMMUNITY TRUST BALANCE SHEET AS AT 31 DECEMBER 2021 2021 2020 Notgs Current assets Cash at bank and in hand 527,056 713,697 Credltots: amounts falllng due wlthln one year 10 1183,5941 1468,0111 Net current assets 343,462 245,686 Income funds Restricted funds Unre5tiicted funds 11 11,856 331,606 153 245,533 343,462 245,686 The financial ststements were approved by the Trustees on 1411012022 Prabhiol Basra (Chairl Trustee Aled Palchett Trustee 15-
HEATHROW COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Accountlng pollcles Charity infomiation The principal aoUntIng policies applied in the preparation of the financial statements for Heathrow Community Trust la 'Charitable Trusl'l are set out below. Heathrow CommLJnity Trust is a CIO approved by the Charity Commission in April 2019. 1.1 A¢counllng Conventlon The financial slalements have been prepared in accordance with the charity's constitution, the Charities Act 2011, FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland" l FRS 102.1 and the Charities SORP Accounting and Reporting by Charitie5. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Finanaal Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021" leffeclive 1 January 20191. The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statanent of Cash Flows. The finanaal statements have departed from the Charities IAccounts and Reportsl Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practi which is referred lo In the Regulations but which has since been withdrawn. The financial statements are prepared in slerfing, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, Imodified lo include the revaluation of freehold properties and lo Indude Investment properties and certain financial Instruments al fair valuel. The principal accounting policies adopted are sel out below. 1.2 Going concern Al the lime of approving the financial stslemenls, the trustees have a reasonable expectation that the charity has adequate resources lo Continue in operational existence for the foreseeable future. Thus the Iruslees continue to adopt the going concern basis of accounting in preparing the financial ststemenls. 1.3 Charitable funds Unreslricled funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as lo how they may be used. The purposes and uses of the restricted funds are set out in the notes to the finanaal statements. Endowment funds are subject to specific conditions by donors that the capitsl musl be maintained by the charity. 1.4 Income Income is recognised when the charity is legally entitled to il after any performance conditions have been met, the amounts can be measured reliably, and il is probable that income will be received. Donations are recognised on an accruals basis where the entillemenl, certainty and measurement criteria are being met. Legacies are recognised on reIpt or otherwse if the charity has been notified of an Impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is Irealed as conlingenl asset. 16-
HEATHROW COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 A¢¢ounllng poll¢lg$ Icontlnuedl 1.$ Exp8nditurg Expenditure is recognised once there is a legal or constructive obligation lo transfer economic benefit lo a third paty, It is probable that a transfer of economic benefi15 will be required in selllemenl, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The Costs of ea¢h activity are made up of the total of dir1 costs and shared Costs. including support ¢osls involved in undertaking each adivity. Direct ¢osls attributable lo a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those aclivilEs on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown thin borrowngs in current Iiabililies. BasiTC financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried al amortised cost using the effective interest method unless the arrangement conslilules a financing Iransaclion, where the transaction is measured al the present value of the ftjlure receipts dI$Unted al a market rale of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised al transaction price unless the arrangement conslitules a financing Iransaclion, where the debt instrument is measured al the present value of the future payments discounted at a market rale of interest. Financial liabilities classified as payable wthin one year are not amort15ed. Debt instruments are subsequenuy carried al amortised cost, using the effective interest rale method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially al transaction price and subsequenuy measured al amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.7 Employee benefits The cost of any unused holiday enliuement is recognised in the period in which the employee's services are received. Temiination benefits are recognised immediately as an expense when the charity is demonstrably committed lo lerminale the employment of an employee or to provide termination benefits. 17-
HEATHROW COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Crltlcal accountlng estlmatss and Judgements In the application of the charity's accounting policies, the Iruslees are required to make iudgemenls, estimates and assumptions about the Carrying amount of assets and liabilities that are not ieadily apparent from other sources. The eslimales and associated assumptions are based on historical experience and other factors that are considered lo be relevant. Actual results may differ from these eslimales. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects cnly that period, or in the period of the revision and future periods where the revision affects both current and future periods. Donations and legacies Unrestricted Restricted funds funds Total Unrestricted funds Restricted funds Total 2021 2021 2021 2020 2020 2020 Donations and gifts 308,527 103,000 411,527 471,395 49,274 520,669 Other tradlng actlvltles Unrestrlcted Restrlcted funds funds Total Unrestricted Restricted funds Jnds Total 2021 2021 2021 2020 2020 2020 Fundraising events Trading adivity income". other 10,747 10,747 6,955 6,955 6,526 2,500 9,026 2,332 10,900 13,232 Olhei trading activits.es 17,273 2,500 19,773 9,287 10,900 20,187 Investments Unrestricted Unrestricted funds funds 2021 2020 Investment income 55 2,519 18-
HEATHROW COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Expendlture 2021 2020 Grants Payable Covid-19 Projects for young people" Environment and Sustainability Communities Together Development Fund ' Staff Matching Funding HAPI. School Laptops National Lottery Hillingdon Covid Project Heathrow Schools 2021 Project 90,083 14,954} 11,595} 7,715 1770} 242,518 116,468 15721 28,260 14981 5,422 26,182 24,121 12,276} 95,000 11,492 194,695 441,901 Support costs Governance ¢osls 121,495 17.389 62,296 89,012 333,579 593,209 Underspend relating to prior periods 19-
HEATHROW COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Support costs Support Governance costs costs 2021 Support costs Governance costs 2020 staff costs Recruitment costs Grant administration PR & Communications CRM Accounts"ng system Fundraising costs Computing costs Postage Bank Charges Training and neOrkIng 46,884 15,690 51,159 1,494 1,209 46,884 15,690 51,159 1,494 1,209 16,289 71,395 71,395 41,871 439 2,059 1,459 179 41,871 439 2,059 1,459 179 4,686 4,886 15 298 60 298 60 Audit fees Independent Examiners fees Incorporation costs Memberships Admin and event Legal and professional costs Meeting costs 6,660 6,660 5,424 5,424 4,320 1,455 5,182 4,320 1,455 5,182 1,015 1.015 10,778 172 10,778 172 121,495 17,389 138,884 62,296 89,012 151,308 Analysed beeen Charitable activibes 121,495 17,389 138,884 62,296 89,012 151,308 Governance costs includes payments lo the Independent Examiners of £3.45012020.' audit fee £6,680). Trustees None of the trustees lor any persons connected with them) received any remuneration or benefits from the charity during the year. Employees The average monthly number of erllployees during the year was". 2021 Number 2020 Number -20-
HEATHROW COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Employ99$ Icontlnuedl Employment ¢o$ts 2021 2020 INages and salaries 48,884 87,684 There were no employees whose annual remuneration was more than £60,000. There were no donated services in 2021. The prior year includes an estimate of services supplied by the Trust's Director, Treasurer and Heathrow Airport Limited staff and other expenses incurred in the running of the Trust of £71,395. The Ttusl has one direct employee.12020." one) 10 Creditors- amounts falling due within one year 2021 2020 Other creditors Aceruals and deferred income 178,170 5,424 464,111 3,900 183,594 468,011 11 Restricted funds The income funds of the charity include reslricled funds comprising the following unexpended balanS of donations and grants held on trust for specific purposes". Movement in funds Incoming Resourc95 Balance at resources expended1 January 2021 Movement in funds Incoming Resourc8s Balanc8 at resource5 expended 31 Dernber 2021 Balance at 1 January 2020 HAPI Fund Noise fines NLHC Fund School Laptops 25,000 10,900 24,274 125,0001 110,9001 124,1211 2,276 2,276 2,500 6.927 2,500 103.000 196,0731 153 153 60,174 160,0211 153 105,500 193,7971 11,856 21
HEATHROW COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 12 Analysls of net assets between funds Unrestricted Restricted funds funds 2021 2021 Total Unrestricted nds 2020 Restricted nds 2020 Total 2021 2020 Fund balanS at 31 December 2021 are represented by". Current assetsllliabililiesl 331,606 11,856 343.462 245.533 153 245,686 331,606 11,856 343,462 245,533 153 245,686 13 Related party transactions There were no disclosable related paty transactions during the year12020 - none). -22-