Charity registration number 1183004 HEATHROW COMMUNITY TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
HEATHROW COMMUNITY TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Prabhjol Basra (Chairl Richard de Belder David Cottrell Gennie Dearman Alison Keeley Jason Knight Nigel Milton Aled Patchett Lisa Kelly Nicola Zoumidou David Coen Christopher Boylan Tracey Lucas-Apea {Resigned 29 March 20231 (Resigned 7 December 20231 {Resigned 11 February 20241 (Appointed 29 March 20231 {Appointed 29 March 20231 (Appointed 29 April 20241 {Appointed 2 January 20241 CEO Claire Knight Charlty number 1183004 Registered office The Compass Centre Nelson Road Hounslow London TVV6 2GW Auditor Alliolts LLP Cross Lanes Guildlord Bankers Barclays Bank plc 1 Churchill Place London E14 5HP Melrobank One Southampton Row London WC1B SHA CAF Bank Ltd 25 Kings Hill Avenue Kings Hill Wesl Malling Kent ME19 4JQ
HEATHROW COMMUNITY TRUST LEGAL AND ADMINISTRATIVE INFORMATION Flagstone Group Ltd 1 st Floor Clareville House 26-27 Oxenden Street London SVV1Y 4EL
HEATHROW COMMUNITY TRUST CONTENTS Pagg Trustees. report statement of trustees. responsibilities 12 Independent auditorfs report 13-16 Stslemenl of financial activities 17-18 Balance sheet Notes lo the financial statements
HEATHROW COMMUNITY TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees present their annual report and financial statements for the year ended 31 December 2023. 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. 2023 has been a more positive year for our Ttusl but has not been wthout ils challenges. The imp1 of Covid-19 has continued lo be felt throughout the local Communities, highlighting inequalities and longer lemi impacts are starting lo be seen. Some local councils and other funders have reduced or slopped their community grants programmes, which has led lo increased applications reiVed by the Trust and increased need in local communities. We are grateful for the 0gOIng support and generosity of our primary funders. who substantially increased their donations in 2023 and enabled us to ensure that the Trust continues to remain finanaally robust throughout 2023 and well into 2024. With the funding available in 2023, the Board decided to increase the maximum grant values available for Projects for Young People, Communities Together and Environment & Sustainability, lo support local organisalions lo deliver key projects and services lo communities against the backdrop of rising costs and the cost of living crisis. In the last quarter of 2023, our Trust recaved significant fundraised income from Heathrow Airport Ltd and Team Heathrow partners which will be ulilised in 2024. We have been able to support a significant range of community needs and projects during the year, and will tx)ntinue lo make a real difference in 2024 as we look fornard to returning lo awarding mulli-year funding. I would like to thank all our Trustees for their continued support and hard work during these challenging limes. Objectives and activities CHARITABLE OBJECTS a$ set out In Heathrow Communlty Trust constltutlon 2021.. The objects ol the CIO are lo advance such ¢harilable purposes (according to the law of England atyl Wales) as the trustees see fil from time lo time for the benefit of the general public and in particular bul not eY¢lusively for the publi¢ benefit predominately of people living and working in the local community around Heathrow Airport and the neighbouring boroughs (the 'Local CommLJnity'l and other parts of the UK, through the making of grants, awards, donations and the provision of other financial and non-finanaal support lo.. a. protect and promote the physical and natural environment. induding but not limited to the consetvation 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 lime occupation of individuals who have need of such facilities by reason of their yOLJth. age, infirmity or disability. financial hardship or social circumStanS or for the PLJblic at large with 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, including but not limited to the provision of skills and vocational training, apprentIShIp schemes and other programmes., d. provide support 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 lo identify and help meet their own needs and lo participate fully in society.
HEATHROW COMMUNITY TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Our mission is lo enable communities lo thrive by having a positive impact on the lives of people in the communities surrounding Heathrow Airport. We will do this by funding, enabling and empowering voluntary and community organisations, working in partnership wth others, and by supporting employees of Heathrow Airport Ltd to give back. In 2023 we did this through awarding grants in the following funding streams in support of our charitable objectives. Projects for Young People Communities Together Environment & Sustainability HealhrowAclive People initiative IHAPil and Matched Funding 11 should be noted that grants awarded do not lie directly through to the accounts due to accounting timing differen$ such as reCnitIon of grants with multiple award payments. Our vision is lo enable as many local inilialives and projects as possible. To do this we will work with Heathrow Airport Ltd. stakeholders and other ftjnders to enable us to do more, so we can play a bigger part in creating healthy, happy local communities Mrith more rewarding and fLIIlled lives.
HEATHROW COMMUNITY TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Achlevements and perfom)ance Highlights for 2023 £809.586 of new funding awarded Projects which completed in 2023 reported.. 18,201 Total beneficjaries 4,844 people benefitting from improved facilities 22,616 volunteering hours carried out Ito deliver projectsl 858,286m' of land maintained or improved 598 schools involved in projects 11 trees planted In 2023, Heathrow Community Trust received a donation from Heathrow Airport Ltd of £659,8841£275,000 FY221. Income from noise fines for the year was £8.000 1£12,000 FY221. this donation supports our Environment & Sustainability grants programme. A further donation of £87,500 was received from HealhrowAirport Ltd towards our support costs and £17,500 was received from Heathrow Airport Ltd lo support the HAPI and Matched Funding prograrnmes for Heathrow employees. Heathrow Airport Ltd IHALI employees and employees of Team Heathrow companies undertook a number of fundraising activities for the Trust in 2023. The Heathrow Charity Golf Day raised a total of £23,414. The Trust also had 8 runners In the TCS London Marathon who raised a lolal of £9,926 for the Trust. There were smaller staff and volunteer fundraising events which raised a combined total of £3,006. An additional £3,006 of fundraising was generated though the recycling of IT equipment by HAL. In November HAL held a Business Awards event and the Trust was the sole beneficiary of the proceeds of the sale of tables at the event, which raised a further £100,000. The Tru51 was the sole beneficiary of Heathrow Airport Ltd.'s passengei donation units in 2023, wrth a total of £228,760 received. As slated in the Chair's slalement, a significant PTOPOrtion of the fundraised income was received in the last quarter of 2023 and will be ulilised by the Ttusl is 2024. In 2022, in order lo support the Trust's planning for the future, we commissioned Brunel University to undertake an independent needs analysis of the nine boroughs eligible lo receive funding from the Trust's main gtanl programmes. The final report was delivered in August 2023. The key findings about the boroughs from the report are.. The boroughs, needs are diverse Eight boroughs are in 500/0 most deprived in England12019 government datal Eight boroughs are in the al least 500/0 most deprived Category wth respect lo crime, a measure of risk of personal and material vi¢timisation at a local level. statutory funding has reduced significantly Groups need more volunteers linduding long term and ad hocl Needs of community groups have increased in line wth beneficiaries The Board continue to reflect on the information provided in the report which has helped to inform the development of a new three year strategy which the Board will finalise in 2024.
HEATHROW COMMUNITY TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 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 HealhrowAirport employees and members of the local community. Grant Review Panel members support the Trust with their local understanding ol 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. Funding position In 2020 and 2021, the Trust responded lo the pandemic by pausing all previous grant rounds and focusing grant making on awarding small unrestricted grants lo help organisations lo respond lo the emergency. In 2022, the Trust re-opened our previously paused grant programmes. however the ongoing impact of the Covi(k19 pandemic on the Trust's income meant that we could not return lo the scale ol funding awarded pre-pandemic and therefore the Trust Chose lo offer smaller maximum grants of £7.500 across the larger grant programmes lo enable as many organisations as possible to benefit from funding. Heathrow Airport Ltd was badly affeded by the pandemic, but despite this has continued to donate and the Trust's income has risen substantially as passenger numbers have risen. In the Heathrow 2.0 sustainability strategy, published in February 2022, one of the largels Tmthin the document Is 'AI least £6.5m in funds generated for the Heathrow Community Trust by 2030,. This clearly indicates Heathrow Airport Ltd's ongoing commitment to th& Trust, which was further detailed in Heathrow's Giving Back Programme which was published in February 2023. In 2023. The Trust's increased income meant we could further increase the maximum grant value lo £15,000. Again, we saw high volumes of applications in a very challenging funding landscape. In 2023, the Heathrow Airport Ltd donation was £659,884 and noise fine income was £8,000. Support cost expenditure was split between FathroW Airport Ltd and Heathrow Community Trust, with HeathrowAirpDrt Ltd providing a further £67,500 donation towards these costs. As income slabilises, the Trust Is pleased to be returning lo mulli-year funding for 2024. Factors affectlng performance Heathrow Community Trust awards grants lo third parties lo deliver projects, this funding is often part of the total funding required to deliver the project, and delivery of these projects is monitored by Interim and Final project reports. From time to time projects do not proceed as planned due to a variety of reasons the most a)mmon of *• which are.. Problems in securing planning permission Problems in reaching intended tsrgel beneficiaries Problems with the grant recipients 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 forward. In the event that a project musl k cancelled or prematurely Closed, committed funding is wrrtten off or retumed, but this is a rare occurrence. Ongoing grants are reviewed quarterly in order lo ensure that any funds no longer required can be written off and made available for other grants. All new grants awarded in 2023 were single year grants with planned completion by late 2023 or early 2024.
HEATHROW COMMUNITY TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Summary of Oblectlves for 2023 Our Values Caring, Integrity, Respect. Transparent, Accountable We Care about our community and are beneficiary driven. We act with Integrity and treat everyone wth Respect. We are Transparent about what we do and hold ourselves Accountable. Our key prlorltles In 2023 w&re: 1. Environment and Sustainability Improving the quality of life in our local communities through sustainable development and sustainable use of resour$ in community buildings.. increasing community awareness of sustsinability,. increasing the availability and accessibility of community green spaces, wooded areas, areas of nalural beauty or biological areas of Importan., increasing the amount of materials reused or recycled in the area. 2. Communities Together Improving the quality of life in our local communities by bringing communities together. reducing isolation and social exdusion, and increasing community cohesion and understanding beeen communities. 3. Young People Helping our local communities by enabling opportunities for young people up lo age 25 10 increase their resilience, raise their aspirations, improve their life opportunities, or break down barriers lo employment through skills development. 4. Heathrow Colleagues providing support to the employees of Heathrow Airport Ltd in their charitable work and volunteering initiatives in the area neighbouring the airport, and across the United Kingdom. 5. Improving the voluntary and community sector's ability to support local communities and Increasing the support available to the sector. Recognising that the local voluntsry and Community sector faces significant challenges. we aim lo support strengthening the voluntary sector by priorilising funding for local. smaller. organisations, and improve fundraising. through supporting Heathrow colleagues in skills-based Advocate volunteering, bul also by seeking out ways to leverage our own grant making by building relationships wth other funders.
HEATHROW COMMUNITY TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Flnanclal revlew 2023 Financial performanc Income lotslled £1,140,483 12022.. £607,61511, the majority of which comprised a donation from Heathrow Airport Limited of £859,88412022.' £275,000). Income Inve5tms Incom¢ £18.5?0_ otheftrad1_ aaivitE5 t14,3J7 Sponsyed events, £33.341.- -DonèEICYts, £1.074.255 Total expenditure was £951,716 12022". £308,730), comprising grant funding activities £809,586 12022.. £167,784), raising funds costs £2,231 12022.. £4,271), governance costs £24,35512022'. £26,3331 and support costs £115,544 12022 £110,342). Expenditure HAPI. £15.879 EnvYronrnt and 5ustairobilit¥. £128,631 Projerts for Young Peopbe, £353,854 Staff Matched Fundir¥, £6, RaisngfurM15 -costs, £2.231. Cornrnuiti Togeth. £304.538 SupportcostS. £],544 GovernarKe Costs. £24,355 Retained reserves al 31 December 2023 were £831,114 12022.. £642,347) of which £354,016 12022.. £597,970) were unieslricted and £443,781 12022". £32,675) are unreslricled designated funds for Grants Payable. Cash balanS held at the year-end were £1,311,37412022.' £694,617).
HEATHROW COMMUNITY TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 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 £354,016 12022.. £597,970). The Trust's assets are available and adequate to fulfil ils obligation5. The Trust reviews f(5 resetves policy on an annual basis and the policy was reviewed thoroughly in 2023. The Trust's aims lo hold unreslricled funds of £140,000 as a contingency lo cover costs in the event of winding down the TrusL This is in addition lo any committed grant expenditure The reserves policy will continue to be reviewed regularfy lo ensure the Trust is not hdding unnecessary funds. In 2023 the Grants payable have been moved to an unrestricted designated fund and the prior year restated accordingly for this. The unrestricted designated funds at the year end were £443,781 12022.. £32,675 as restated in the accounts this yearl. Going concern The Trust's funding Is only agreed on a yearly basis. If funding We lo be discontinued or significantly reduced, the charity has lo obtain aeMatiVe 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 ol accounting in preparing the financial statements. Unrestricted Reserves are calculated to allow the Trust to undertake an orderly cessation of activities should that be required. Designaled funds are sufficient to cover all funding commitments (grants awarded). Further details regarding the adoption of the going cOnM basis can be found wthin the Accounting Policies note on page 18 of the financial slatemenls. 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 set. Restricted Funds Reslricled funds are funds which are lo be used in accordan with specific restrictions imposed by the donor or trust deed. During 2023 restricted funds were received from Noise Fines (Environment & Suslainabilityl and specific restricted donations from Heathrow Airport Limited (Heathrow Active People initiative and Support Costs1. All other funds are unrestricted 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 to be used for particular purposes in the future. The Trustees have the power to re-designate such funds wthin unrestricted funds. 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 easing of Covid restrictions, including holding Board of Trustees and Grant Review Panel meetings over Teams and Zoom where necessary. 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 20°h 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 sU11 of the pandemic, with some activities restarting in late 2021. In late 2021, Heathrow Airport Ltd provided detsils of their planned donation to the Trust for 20221380kn of pre- pandemic donation) and this was tied to passenger forecasts. In 2022 the Trust carefully monitored income and expenditure and was caulioLJS to release addib'onal grant funding until late 2022 due to the ongoing Ljncertainty caused by new Covid-19 variants. As the income of the TrLJsI's major donor had increased and the associated risks to the Trust redud, the Trust sought to release as much funding as possible lo community groups in 2023 and were pleased to be able to award over £809,586, a significant increase on the £167,784 paid in 2022.
HEATHROW COMMUNITY TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Support cost reductions pul in place in 2020 were maintained in 2021 and 2022, including retaining the CEO'S Contract as three days per week and working with a reduced administration team at Groundwork South. In 2023, support costs were increased wth Groundwork South introducing some limited additional support as the number and value of grants increased. In late 2023. the Trust agreed a further sustained increase for 2024, in part to support the return to multi-year funding. Trustees reviewed the Trust's reserves policy thoroughly in 2023. The pandemic has had a huge impact on the local community and support is needed more than ever. Heathrow Airport Ltd was badly affected by the pandemic, bul despite this continued lo donate, and in 2023 they significantly increased support as air travel continued lo grow. In the Heathrow 2.0 sustainability strategy, puLlished in February 2022, one of the largels wlhin the document is 'At least £6.5m In funds generated for the Heathrow Community Trust by 2030,. This cleady indicates Heathrow Airport Lld's ongoing commitment lo the Trust, which was further detailed in Heathrow's Giving Back Programme which was published in February 2023. Structure. govemance and management Heathrow Community TrLJSt is a CIO approved by the Charity Commission in April 2019 which took over all liabilities and operations of LHR Communities Trust in May 2019. The affairs of the charity are governed by the Board of Trustees. The trustees who served during the year and up to the date of signature of the financial statements were.. Prabhjol Basra (Chairl Richard de Belder David Cottrell Gennie Deamian Alison Keeley Jason Knight Nigel Milton Aled Patchett Lisa Kelly Nicola Zoumidou David Coen Christopher Boylan Tracey Lucas-Apea (Resigned 29 March 20231 (Resigned 7 December 20231 (Resigned 11 February 20241 (Appointed 29 March 20231 (Appointed 29 March 20231 (Appointed 29 April 20241 (Appointed 2 January 20241 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 a 75% majority that it would be in the best interests of the charity for a particular trustee lo be reappointed for a further consecutive term in offi. New Trustees are recruited by advertisement andlor recommendation by existing Trustees, the CEO, or members of Heathrow's local community networks. In the period of the accounts, four of the Trustees were employed by Heathrow Airport Holdings Limited. Heathrow Airport Holdings Limited is the major donor of lo the Trust," the Trust operates as a separate enlily when setting its aims and objectives according lo ils conslilution. The donation fr(m Heathrow Airport Ltd is given in Unreslricled funding wilhoul n$traint regarding ils use other than for Charitsble purposes. Heathrow Airport Ltd give a separate donation to the Trust which is restricted to delivery of the Trust's Heathrow Active People initiative IHAPil funding programme and a further separate donation restricted to suppprt costs. Prospective Trustees are offered the opportunity to attend a Board meeting and are interviewed by the Chair 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 receive a structured induction programme. are offered the opportunity to participate in one or more of the Grant Review Panels or other BDard sub-committees and may visit as many projects funded by the Trust as they wish. All Trustees are required to provide infomialion on potential conflicts of interests and a Conflicts of Interest Policy is in place to ensure rnanagemenl of any conflicts. In addition, Trustees must declare any related parties lone Identified for Trustees in 20231.
HEATHROW COMMUNITY TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The board seeks lo ensure that all ils activities operate in compliance with all relevant legislation and regulation. Its work includes selling the strategic dire¢lion 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 and commenced employment in August 2021, reporting to the Chair of the Board of Trustees. The Board of Trustees met four times in 2023 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 quarterfy, 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 Heathrow Airport Ltd continuing lo pay its donations or lo reduce these substantially. This risk was activated during 2020 when the company had lo redu ils F4anned donation as a result of the catastrophic impact of the pandemic on the airport. The Trust only recognises this incom& 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 ieduction in income. The Trust rewgnises 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 Group Charities and Communities Committee on a quarterly basis lo help secure continued ftjnding, in addition the 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 il lo offer a source of expert advice lo 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 2023 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 powèrs 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 lo the Board of Trustees for consideration. Funding criteria, application fomis and deadline dales for each funding stream are published on the Trust's website. HeathrowComrnunityTrustBoardofTrusts Flncom Riskcommlttee IAPI grantreview Grantsforyoung Peoplegrant reviewpanel c0mrnunles 108ether8r£nt reVwpanel Envlronment and Brantrevlew panel 10-
HEATHROW COMMUNITY TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The below programmes Vre open In 2023 wlth the levels of fundlng avallable as below. Projects for Young People. Communltles Together Large and Envlronment & Sustalnablllty Grant Programmes Each of these programmes awards grants of up to £15,000 for 1 year. This is a single stage process, with applications reviewed by the panel who have delegated authority to award up lo £5,000. Recommendations for awards over £5,000 are made to the Board of Trustees for review. Communitiey Together Small Grant Programme This programme awards grants of up lo £5,000 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. Heathrow Active People Initiative IHAPil Grant Review Panel The HAPI grants review panel meets lce per annum and reviews applications for funding in the HAPI grants programme lup lo £2,500) and Staff Matched Funding lup to £2501. Applications to these programmes are only open lo employees of Heathrow Airport Limited. The panel formally reports lo the Board of Trustees once per annum. The grant stream below remalned closed throughout 2023. Development Grants In response to an identified funding gap, Heathrow Community Trust put in place a grant programme awarding funding of up to £10,QOO for projects to identify community needs, carry out environmenlal audits or assessments, or projects which wll remove blocks and enable future Work to support the community. Such projects are reviewed by the Environmental & Sustainability Grant Review Panel with funding recommendations being made to the Board of Iruslees. General Grant Maklng Pollcy 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 in the boroughs of Ealing, Hillingdon, Hounslow, Richmond, Runnymede, Slough, Spelthome, South Buckinghamshire, and Vvlndsor & Maidenhead, unless covered by the HAPI or Matched Funding streams which are not geographically restricted. Employees The Ttusl's CEO Claire Knight joined the Trust In August 2021. The CEO of the Trust is not a Trustee and does not have the responsibilities of a stalulory director. The trustees, report was approved by the Board of Trustees. Prabhjol Basra (Chairl Trusteg Aled Patchett Trustee Date.. 1910912024
HEATHROW COMMUNITY TRUST STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2023 The Iruslees are responsible for preparing the Trustees, Report and the financial slalements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales reqLJires the trLJStees to prepare financial statements for each financial year which give a true and fair view Df the slate of affairs of the charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial stslemenls, the trustees are required to". select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP., make judgements and eslimales that are reasonable and prudent., stale whether applicable accounting standards have been followed, subject lo any material departures disclosed and explained in the financial statements", and prepare the financial stslements on the going concern basis unless il is inappropriate to presunE that the charity will continue in operation. The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply wth the Charities Act 2011, the Charity IAccounls and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 12-
HEATHROW COMMUNITY TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF HEATHROW COMMUNITY TRUST Oplnlon We have audited the financial statements of Heathrow Community Trust (the 'charity'l for the year ended 31 December 2023 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial slatemenls, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporb"ng Standard 102 The Financial Reporting Standard applicable the UK and RepublK of Ireland (United Kingdom Generally Accepted Accounting Praclicel. In our opinion, the financial slatemenls.. give a true and fair view of the slate of the charity's affairs as al 31 December 2023 and of its incoming resources and appli¢alion of resources. for the year then ended.. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi,. and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for oplnlon We conducted our aLJdit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditorts spOnSIbl11teS for the audit ol the financial slalements section of our report. We are Independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtsined is sufficient and appropriate lo provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements. we have concluded that the Iruslees, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have nDI identified any material uncertainties relating lo events or conditions that, individually or collectively, may cast significant doubt on the charity's ability lo continue as a going concern for a period of at least twelve months from when the financial slalements are authorised for issue. Our responsibilities and the responsibilities of the trustees Imth respect lo going concern are described in the relevant sections of this report. Other infomiation The other information comprises the information induded in the annual report other than the finamial statements and our auditorfs report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other infomiation and we do not express any fomi of assurance conclusion Ihereon. Our responsibility is lo read the other Information and, in doing so, consider whether the other Information is materially inconsistent wth the financial slalements or our knoedge obtained in the course of the audit, 01 otherwise appears to be materially misstated. If we identify such malerval Inconsi51encies or apparent material misstslemenls, we are required lo determine whether this gives rise lo a material misstalemenl in the financial stslemenls themselves. If, based on the work we have performed, we conclude that there is a material misstslemenl of this other information, we are required lo report that fact. We have nothing to report in this regard. Matters on which wg ar& requirod to report by 8xception We have nothing to report in respect of the followng mallers in relation lo which the Charities (Accounts and Reports) Regulations 2008 require us lo report lo you if, in our opinion". the infomiation given in the financial statements is inconsistent in any material respect with the Iruslees, report., or sufficient accounting records have not been kept", or the financial slalements are not in agreement with the accounting records.. or we have not received all the information and explanations we require for our audit. 13-
HEATHROW COMMUNITY TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF HEATHROW COMMUNITY TRUST Responslbllltles of trustees As explained more fully in the statement of trustees, responsibilities, the trustees are responsible for the preparation of the finanaal statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees delemiine is neSSary to enable the preparation of financial statements that are free from material misslalement, whether due lo fraud or error. In preparing the financial stalemenls, the trustees are responsible for assessing the charity's ability lo continue as a going concem, disclosing, as applicable, matters related to going concern and using the going concem basis of accounting unless the trustees either intend to Cease operations, or have no realistic altemalive but to do so. Auditor's responsibilities for the audit of the financial statements We have been appointed as auditor under se¢tion 144 of the Charities Act 2011 and report in accordan wth the Act and relevant regulations made or having effect thereunder. Our objectives are lo obtain reasonable assurance about whether the financial slalements as a Who are free from material misstatement, whelher dLJe to fraud or error, and to iSSLJe an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material rf, individually or In the aggregate, they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial slatemenls. Irregularities, induding fraud, are instances of non-compliance wrf(h laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misslalements in respect of irregularities, including fraud. The exlenl lo which our procedures are Capable of delecling irregulari(ies, including fraud, is detailed below. Our approach lo identifying 8nLY assessing the risks of material misstalemenl in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows". the engagement partner ensured that the engagement team collectively had the appropriate competen(e, capabilities and skills lo identify or recognise non-compliance rith applicable laws and regulations., • we identified the laws and regulations applicable to the charity through discussions with Trustees and other management, and from our commercial knowledge and experience of the sector,. we focused on specrfic laws and regulations which we considered may have a direct material effect on the financial statements 01 the operations of thè charity, including the Companies Act 2006, the Charf(ies SORP, taxation, employment, environmental and health and safety legislation", we assessed the extent of compliance ¥Mth the laws and regulations identified above through making enquiries of management and inspecting legal Corresponden.. and * identified laws and regulations were communicated within the audit team regularly and the team remained alert to instsnces of non-compliance throughout the audit. We assessed the susceptibility of the charity's financial slalemenls lo material misslalement, including obtsining an understanding of how fraud might occur, by.. making enquiries Df management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud,. considering the intemal controls in place to mitigate risks of fraud and non-compliance wth laws and regulations 14-
HEATHROW COMMUNITY TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF HEATHROW COMMUNITY TRUST To address the risk of fraud through management bias and override of controls, we.. perfomied analytical procedures lo identify any unusual or unexpected relationships., tested jOLJrnal entries to identify unusual transactions., assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias", and investigated the rationale behind signrficant or unusual transactions. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to.. agreeing financial statement disclosures to underfying supporting documenlalion., reading the minutes of meetings of the board of Trustees, enquiring of management as to actual and potential liligalion and daims.. and • reviewing correspondence with HMRC. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely il is that we would become aware of non-compliance. Auditing slandaids also Iimil the audit procèdures required lo identify non-compliance with laws and regulations lo enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misslalements that arise due to fraud can be harder lo detect than those that arise from error as they may involve deliberate concealment or collusion. A ftjrther description of our responsibilities is available on the Financial Reporting Council's website al. https'll www.frc.org.uklaudilorsresponsibilities. This description fomis part of our auditor's report. other matters The financial stslemenls for the year ended 31 December 2022, forming the comparative figures of the financial statements for the year ended 31 December 2023, are unaudited. Use of our report This report is made solely to the charity's trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those mallers we are required to slate lo them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility lo anyone other than the charity and the charity s ttuslees as a body, for our audit work, for this report, or for the opinions we have formed. 15-
HEATHROW COMMUNITY TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF HEATHROW COMMUNITY TRUST Christopher Cairns Bsc FCA (Sonior Statutory Auditor) for and on behalf of Alliotts LLP 2410912024 Chartered Accountants Statutory Audltor 3 London Square Cross Lanes Guildford GU1 1UJ Alliotts LLP is eligible for appointment as auditor of the charity by virtue of ils eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006. 16-
HEATHROW COMMUNITY TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Curr&nt flnanclal year Unrestrlcted Unrestrlcted funds funds general Designated Grants Payable Fund 2023 Restrlcted funds Total Totsl 2023 2023 2023 2022 Notes Income from- Donations and legacies other trading activities Investments 989.255 39,658 18,570 85,000 8,000 1.074,255 47,658 18,570 536,362 70,910 343 Total income 1,047,483 93,000 1,140,483 607,615 Expenditure on: Raising funds Charitable activities 2,231 68,514 2,231 949.485 4,271 304,459 809,588 71,385 Total expendlture 70,745 809,586 71,385 951,716 308,730 Net incomellexpenditurel 976,738 1809,5861 21,615 188,767 298,885 Transfers between funds 11,220,692) 1,220,692 Net movement in funds 1243,9541 411,106 21,615 188,767 298,885 Reconciliation of funds: Fund balances al 1 January 2023 597,970 32,675 11,702 642,347 343,462 Fund balances at 31 December 2023 354,016 443,781 33,317 831,114 642,347 The statement of finanaal activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 17-
HEATHROW COMMUNITY TRUST STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Prlor flnanclal year Unrestrlcted Unrestrlcted funds funds general Designated Grants Payable Fund 2022 2022 As reststed As reststed Restrlcted funds Totsl 2022 2022 Notes In¢om9 from: Donations and legacies Other trading activities Investments 473,862 58,910 343 62,500 12,000 536,362 70,910 343 Totsl Income 533,115 74,500 607,615 Expenditure on: Raising funds Charitable activities 4,271 62,021 4,271 304,459 167,784 74,654 Totsl expenditure 66,292 167,784 74,654 308,730 Net incomellexpenditurel 466,823 1187,7841 11541 298,885 Transfers beeen funds 1200,4591 200,459 Net movement In funds 266,364 32,675 11541 298,885 Reconciliation of funds- Fund balances al 1 January 2022 331,606 11,856 343,462 Fund balances at 31 December 2022 597,970 32,675 11,702 642,347 18-
HEATHROW COMMUNITY TRUST BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 as restated Notes Current assets Cash at bank and in hand 1,311,374 694,617 Creditors: amounts falllng duo wlthln ona year 13 1480,2601 152,2701 Not Current assets 831,114 642,347 Net assets excluding pension liability 831,114 642,347 The funds of the charity Reslricled income funds Unrestricted funds- general Unrestiicted funds- Designated Grants Payable Fund 15 33,317 354,016 11,702 597,970 14 443,781 32,675 831,114 642,347 The financial stslemenls were approved by the Iruslees on . 1910912024 Prabhjol Basra {Chairl Trustee Aled Palchett Trustee 19-
HEATHROW COMMUNITY TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Notes Cash flows from opgratlng actlvltlgs Cash generated from operations 19 598,187 167,218 Investing activities Investment income received 18,570 343 Net cash generated from investing activities 18,570 343 Net cash used in financing activities Net increase in cash and cash equivalents 616,757 167,561 Cash and ¢ash equivalents at beginning of year 894,817 527,056 Cash and cash equlvalents at end of year 1,311,374 694,617 -20-
HEATHROW COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 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 financial stslemenls are prepared in sleding, which is the functional currency of the charity. Monetary amounts in these financial ststemenls are rounded to the nearest £. The financial slalements have been prepared under the historical cost convention. The principal accounting policies adopted are sel out below. 1.2 Golng concern At the time of approving the financial statements, 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 statements. 1.3 Charitable funds Unrestricted ftjnds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Reslricled fund5 are subject to specific conditions by donors or grantors as lo how they may be used. The purposes and uses of the restricted funds are set out in the notes lo the financial slalements. Endowment funds are subjert to specific ¢ondilions by donors that the Capitsl musl be maintained by the charity. 1.4 Income Income is regnised when the charity is legally entitled to f( 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 crf(eria are being met. Legacies are recognised on receipt 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 a conty'ngenl asset. 21
HEATHROW COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 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 costs 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 assots 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. -22-
HEATHROW COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Income from donatlons and legacles Unrestricted Unrestricted Restricted Endowment funds funds funds funds general Designated Grants Payable Fund 2023 Total 2023 2023 2023 2023 Donations and gifts 989,255 85,000 1,074,255 Unrestricted Unrestricted Restricted Endowment funds funds funds funds general Designated Grants Payable Fund 2022 Total 2022 2022 2022 2022 Donations and gifts 473,862 62,500 536,362 -23-
HEATHROW COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Other tradlng actlvltles Unrestricted Restricted funds funds general 2023 Total Unrestricted Restricted funds funds general 2022 Total 2023 2023 2022 2022 Fundraising events Trading activity income.. other 33,341 33.341 46,531 46,531 6,317 8,000 14,317 12,379 12,000 24,379 Other trading activities 39,658 8,000 47,658 58,910 12,000 70,910 Invostments Unrestrlcted Unrestrlcted funds funds general general 2023 2022 Investment income 18,570 343 -24-
HEATHROW COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Ralslng funds Unrastrict8d Unrastrictgd funds funds general general 2023 2022 Staging fundraising events 2.231 4,271 2,231 4,271 Expenditure on charitable activities Grants payable 2023 Grants payable 2022 Direct costs Grant funding of activities (see note 71 809,586 167,784 Share of support and governance costs (see note Bl Support Governance 115,544 24,355 110,342 26,333 949,485 304,459 Analys1$ by fund Unreslricled funds- general Unrestricted funds- Designated Grants Payable Fund Restricted funds 68,514 809,586 71,385 62,021 167,784 74,654 949,485 304,459 -25-
HEATHROW COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Expendlture- Charltable Actlvltles 2023 2022 Projects for young people Environment and Sustsinabilily Communities Together Development Fund ' HAPI Staff matched funding 353,854 128,631 304,538 66,552 47,722 48,811 14141 2,863 2,250 15,879 6,684 809,586 167,784 Support costs Governance costs 115,544 24,355 110,342 26,333 949,485 304,459 Underspend relates lo prior periods -26-
HEATHROW COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Support costs Support Governance costs costs 2023 Support Governance costs costs 2022 staff costs Grant adminislralion PR & Communications Computing costs Postage Bank charges Training and networking 54,590 55,866 54,590 55,866 54,440 50.231 23 4,996 57 256 339 54,440 50,231 23 4,996 57 256 339 4,579 28 310 171 4,579 28 310 171 Audit fees Independent Examinerfs fees Legal professional Memberships Legal and professional costs Meeting costs 10,620 10,620 7,290 7,290 570 1,164 570 1,164 846 846 11,031 970 11.031 970 18,036 161 18,036 161 115,544 24,355 139,899 110,342 26,333 136,675 Analysed beheen Chari(able activities 115,544 24,355 139,899 110,342 26,333 136,675 Governance costs includes payments lo the auditors for the audit of £8,820 12022.. Independent Examiners £4,410). Net movem&nt In funds 2023 2022 The nel movement in funds is slated after chargingllcredilingl". Fee5 payable lo the charity'5 auditor". for the audit of the charity's financial slalements for other financial services Fees payable for the independent examination of the charity's financial slalements 8,820 1,800 7,290 10 Tru$t99$ None of the Trustees lor any persons connected with them) received any remuneration or benefits from the charity during the year. During the year costs tolalling £267.94 was reimbursed lo two trustees for travel and meeting expenses. -27-
HEATHROW COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 11 Employees The average monthly number of employees during the year was". 2023 Number 2022 Number Employment costs 2023 2022 Wages and salaries 54,590 54,440 There were no employees whose annual remuneration was more than £60,000. Remuneratlon of key management personnel The remuneration of key management personnel was as follows.. 2023 2022 Aggregate compensation 54,590 54,440 12 Taxallon The charity is exempt from laxalion on its activities because all ils income is applied for charitable purposes. 13 Credltors: amounts falllng due wlthln one year 2023 2022 Other creditors Accruals and deferred income 469,640 10,620 45,340 6,930 480,260 52,270 -28-
HEATHROW COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 14 Unrestrlcted funds- Deslgnated Grants Payable Fund These are unreslricled funds which are material lo the charity's activities. At 1 January 2023 Resources expended Transfers At31 December 2023 Grants payable fund 32,675 1809,5861 1,220,692 443,781 Previous year: At 1 January 2022 Resources expended Transfers At31 December 2022 As restated As restated As restated Grants payable ftjnd 1167,7841 200,459 32,675 Grants payable have been transfeed to a designated fund during the year. This represents grants that have been awarded by the panel prior to the year end bul are payable within the next years. 15 Restricted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject lo specific conditions by donors as ID how they may be used. Movgment In fund$ Incomlng Resources Balance at resourc8S expended1 January 2023 Movement In funds Incomlng Resources Balanco at r680urc88 expended 31 D8cemb8r 2023 Balance at 1 January 2022 As reststed A$ restated A$ restated A$ re$tOie HAPI Fund Noise fines NLHC Fund School Laptops LHR support costs 2,278 2,500 8,927 153 12,500 13,0741 12,000 114,5001 16.9271 11531 50,000 150,0001 11,702 17,500 8,000 19,9121 18,0001 19,290 67,500 153,4731 14,027 11,858 74,500 174,6541 11,702 93,000 171,3851 33,317 -29-
HEATHROW COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 16 Unrestrlcted funds The unrestricted funds of the charty comprise the unexpended balances of donations and giants which are not subject to spe¢ifi¢ Conditions by donors and grantors as lo how they may used. These include designated funds which have been sel aside out of unreslricled funds by the trustees for specific purposes. At 1 January 2023 Incoming resources Resources expended Transfers At31 December 2023 Grants Payable designated fund General funds 32,675 597,970 1809,5861 1,220,692 170,7451 11,220,692) 443,781 354,016 1,047,483 630,645 1,047,483 1880,3311 797,797 Previous year- At 1 January 2022 Incoming resources Resources expended Transfers At31 December 2022 As restated As reststed As restated As restated Grants Payable designated fund General funds 1167,7841 166,2921 200.459 1200,4591 32,675 597,970 331,606 533,115 331,606 533,115 1234,0761 630,645 17 Analysis of net assets between funds Unrgstrl¢t8d Unrestrlcted funds funds general Designated Grants Payable Fund 2023 Restrlctgd funds Totsl 2023 2023 2023 At 31 December 2023: Current assetsllliabililiesl 354,016 443,781 33,317 831,114 354,016 443,781 33,317 831,114 30-
HEATHROW COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 17 Analy$l$ of net a$$ets betW90n funds Icontlnuedl Unrgstrictgd Unrestricted funds funds general Deslgnated Grants Payable Fund 2022 2022 As restated As reststed Re$trict9d funds Totsl 2022 2022 At 31 December 2022- Current assetsllliabililiesl 597,970 32,875 11,702 642,347 597,970 32,675 11,702 642,347 18 Related party transactions Transactions with related parties During the year the charity entered into the followng transactions with related parties.. Grants awardgd 2023 2022 Connected charity Iver Health Bo$ Club 2,101 19 Cash generated from operations 2023 2022 Surplus for the year 188,767 298,885 Adjustments for". Investment income recognised in statement of financial a¢livf(ies 118,5701 13431 Movements in working capital.. Increaselldecreasel in creditors 427,990 1131,3241 Cash generated from operatlons 598,187 167,218 31
HEATHROW COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 20 Prlor perlod adlustment Changes to the balance sheet At 31 December 2022 As previously Adjustment reported As restated Capital funds Reslricled funds Unreslri¢led - designated fund Grants Payable Unreslricled funds 11,702 11,702 32,675 597,970 32.675 132,6751 630,645 Total equity 642,347 642,347 During the current year the Trustees reviewed the method of accounting for grants that had been awarded prior lo thè year end bul which werè to be paid after the year end and decided that il would be more appropii8le lo show them as designated funds rather than unrestricted funds. In order lo give Comparability lo the prior years results the fund balances were restated on the same basis as above. There has beèn no movement in the Statement of Financial Activities arising from the Prior period adjuslmenl. 32-