CtyTrp•ry Number: 11205576 len81d and Wale51 r¢tystiiidCh•rity Nurnber: 1191150 CAMDEN HIGHLINE TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
CAMDEN HIGHIINE copirENTS Pa8e$ R¢f•rnn¢t and Admlnlstrative Detalls Reptsrt of the Trustees Independeht Examiner's Rep 5t•ttm•ntof Financial AltIeS Balance S•t Notes to the Fin•n¢i•l Ststements
CAMDEN HIGHUNE REFERENCE AND ADMINISTRATIVE DETAILS Charfty fiumber: 1191150 11205376 Re855tered Addresg.. 5-7 Collective Au¢tioTh Room5 5-7 Buck Stre•t London NWI 8NJ Trustees: ftjrery O L Thornas C Horwood Bèrw15e Inthpwd•nt E¥•mkn•r: John Howard FCA Azets Audlt Servlce Chartered A¢¢ountaftts F¢oor, Re8is House 45 KIDE William Street London EC4R 9AN ankers: Ll?yds Bonk plc 140 Camden High Street London NWI ONG
CAMDEN HIGHLINE REPORT OF THE TRUSTEE5 The Trustees have paSUre in presenting thelr Annual Report and financial statements for theyear ended 31 Marrh 2025. The financial statement has been prepared in accordance with the accounting polities Set out in note I to the acceunts and comply with the charitls Memorandum and Articles of Association, the Chhritie5 Act 2011 and Accounting and Reporting by Chèrities.. Statement of Recommended Prattice èpplicable to charitie5 preparin8 their accounts iri accordance with the Financial Reporting Standard appllcable in the UK published on 16 July 2014 and updated by Bulletin l. BJEcfivE5 AND A Iv1 The charity'5 objectives are to transform a disused railway vi#duct running from Camden Town to Kin6'5 Cros5 into a new elevated payk and B3rden walk. which will see a5 the foundation for newcommunity activity in the area. The trustees confirm that they have referred to the gUidae contained in the charity commission's geTreral guidance on publlc benefit when reviewing the charity's aitn5 and objectives and in plannin8lutUTÈ aCtwitie5. Maln attfvltles tofurther the publ1¢ benefit Thè Carnden Highline is currently in the second stage of its delniery. It h•$ prepared a masterplan of thè route an(J detailed desS8n ol the first section, submitted è planning application, retrived a resolution to grènt planninE consent, and is now finalising the plannin8 permission and fundraising for construciion. In 2024 It also began Cofflden Highline.. Tracking the Herltoge, a Nation31 Lottery Heritage funded project to Yeveal and celebrate the heritage surrounding the Highline route, whith includes rbew herita8e content commissioned from local young people, frèe work5hop5 Wlth local schools and volunteef-led walkingtours. Short and Long iemi aims and objertive5 In the near teim the Camden HIEhline alms to achiÈvÈ planning permission, and raise the funding required to beEin construttion. Its long-term objettive is todeliver and opÈrate the Carnden Highline as a publicly accessible park and garden walk. ACHIEVEME AN RFOAMANCE A benefits anaSiS performed during the feasibility stage projected si8nifi£ant social outputs from creatlon of the Camden NÈW local green Space for 20.000 people 1.2m new vi51tors, spending £16m a year Sn lecal businesses 3.5rn worth ol travel time benefits. £2.1rn worth of health and wellbein8 benefits Achieving these outputs reoulres the delivery of thp Camden Highline, the locus of thÈ team at thi5 Stage Is to secure the dèsign. plènning permission and funding for construction. NANCIAL REVIEW O¥enAew of ar The Camden Highline is currently in the sècond stage of it5 delivery. The project's feaS11Y work is complete. and it ran an OJEU certlfied international competition t9 secure its design team. Field Operations, the te3m behind the New York Hi8hline is leading the desi8n. and has asseinbled a tearn of local talent, including Kentish Town based aichitects VPPR. The design team have completed a rnasterplan for the Highline. and detailed dÈ5i8n for the first section, running from Carnden Gardens to Royal College Street. This design h3s been submitted for planning perrnission, with a resolution to grant plènning consent secured in January 2023. The Highline team are currently finalisin8 the planning perrni55ion and fundraisin8 for constfuttion. Reserves Reserves Poliry Most of the spending undertaken by the Camden Highline at this sta8È IS toward5 the Trackingthe Heritage project, and fee5 assoiiated with the finali5ation of the planning consent. With support frorn Camden Town Unlimited its everheads are very low. and it mointains reserves of at least two years of opèrètions. Rlsk Management The Camden Highline'5 cashflow Is monitored, particularly throu8h this design stage. It's also 5UPPOrted by Carnden Town UnlimSted, who have been 3 key Sponsor and have committed to in-kind and tinancia1 support.
CAMOEN HIGHUNE REPORT OF THE TRUSTEES FUT The C•mden Hizhline receNed a re501ution to 8rant pl•nnin8 Consent for the first section in JaThuary 2023. Ivs exp•nding Its fundralsSng3ctl¥Atiesto r•lse ton5tructlon fundSng forth first section. whlch could be open in 2028 fundlng peiln. RNANCEAND M EMENT Camden Highline was establlshed in 2018 and berame a UK re8iStere<l charity on the 4 September 2021 •nd is a company limited by guarantee, govemed b¥ its Memorandum ind Articles of Association. The mernbers of the company, whose liablllty is limited to £1, re the Trustees. The chariV5 objertives are to transform a di5ysed rallway vièduct runnin8 from Camden Town to Klni's Cross into new elevated park and yrden walk, whlch will serv• a5the foundatSon for new eommunity artivrty in the are4. The Trustees ¢onfirrn th•t they have referred to the guidan¢e contoined in the Charity Cornmission's 8eneral {uidanc¢ on public beTreflt when reviewini the charlty's aSms and objectwes and In planning future •rtwitie5. Trust•• Ippntlfit and Indu¢ti New Trustees are appointed by the members of the ¢ornpany and Serve for a period of three ye3rs from the AGM at whlch their appolntment is ¢onfirmed. after whlch time th•¥ may be re-appolnted. nomiallyfor up to two furtherterms Inine years in t¢t•ll. The Memor•ndum and Articles of Assoclation of the Company requlre a minimum of threeTrustees, with no m•ximum. The Trusteeswho rved durin¥the year were.. RJTèrry D L Thomas C Horwo)d O•w5e K•y Manryernent Per%¢1 The Key ManaÉem*nt Personnel of the charitable ¢omp•rry are the Trustees and the CEO Slrnon Pitkeathlev. Fundr•isli8 015dosure The Camden Hi8hline 15 currentl¥ lundralslng lor Its ¢OnStructlon. wlth 3 focus on statutory fundln& trusts & foundatlons. high net worth indwidua15 and commercial in¢orne. IY5 registered with the fundroi5in8 re8ulator and has polic$ to protect vulnerable members Qf sOcty and other members ¥f the publk. Staff and tr•lnl The Carnden Hi8hllne has one member of st•ff.
CAMDEN HIGHLINE REpoKf OF THE TRUSTEES Twst•t5' reSPSIbIl1es M•t•m•nt The Trustees (who are also directors of Camden H*hline for the purpose5 of company lawl are respon51ble f¥r preparln8 the Tru5tees' Report and tht ftnancial statements in •e¢ord•nce wth appllcable law and United Kingdom Accounting Standards Iunited Kin8dom Gener•lly Accepted Accguniin8 Pr•¢ticel. Company law requires the Trustees to prepare financial statements for each fin•n¢i•l year, whlch gwe a true •nd fair eW Of the state of affairs ol the charitsble company •rtd of the Incomlng resour£ts •nd applkatk)Tr ol reKsur¢es. Includin¥ the Incom• and expenditure, of the charit•blt company lor theyear. In prepirin8the5e flnancial statements, the Trustees are requir•tl to.. select sultable x¢ountiTr¥ pollcles and then applythern conslstentty ¢b5erve the methods •nd principle5 in the Charlties SORP 2015 IFRS 1021 m•kt judgements and estimates that are reasonable and prudent state whether applscable UK Actounting Standards have been followed. subject to any material dertureS dlxlosed and explaSned in the linCial statements prep•re the Inanclal ststements ¢n the Bolng concern b•sis unless It 15 Inapproprlate to pr•sume that the ¢harit•blt company will continue tn operation The Trustee5 are responsible lor keeping odequate ac¢ountin8 records that dSsclose with reasonable accuracy at •ny tlme the financlal posltS00 of the tharitable cornpany and enable them to ensure that the flnancial statements cornplywlth th¢ CornpanSes Act 21Y)6. They are also responsible for sèfe8uèrding the asset5 of the charltable comwny and hence for taking re•son•ble steps for the prevention and dttartion of fraud and other irre8ularit5e5. By Order of the Bo•rtl 11 JTerry- Tru#ee Date.. esiiy2025
CAMDEN HIGHUNE INOEPENDENT EXAMINER'S REPORT TO THE MEMBERS I report on the accounts of thè Camden Highline for the year ended 31 Marih 2025 set out on pages 6 to 14. Respon5ibdits•s and basls of rep A5 the charity's trustees of the Company lond also its directors for the purposes of company lawl you are responsible for the preparation of thÈ acrounts in accordance withihe requirements of the Compans Act 2(K161'the 2006 Art'l. Having satisfied myself that the accounts of the Company are noi required to be audited under Part 16 of the 2006 Act and are eligible for independènt examination, I rewrt In respect of my examination of your charity's account5 as carried out under section 145 of the Charitie5 Act 20111.the 2011 Act'l. ITh carrylng out my examlnatlon I have fdlowed the Directions glven by the Charity Commission under section 145151 Ibl of the 2011 Act. Independemtxaminer'5 Statemeni I tan confimi that l am qualified to undertake the exarninatlon because l am a re8lStered rnernber of ICAEW v4hich is one of the listed bodies. I have completed my examinaticn. I confirm that no matters have come to my attention In connection with the examlnatlon @In8 me cause to believe.. accounting records were not kept in respect of the Company as required by sectk)n 386 of the 2(N)6 Art., or the accounts do not atcord with those records,. or the attounts do not corrply with the a£counting requirements of seCtn 396 of thè 2tM16 Act other than any requirement that the accounts Eive a true and fair view which 15 riot a matter considered as part of an independent eyamination., or the accoLsnts have not been prepared in accordance with th methods and principles of the Statement of Recommended Practice for accounting and reportinB by charities applicable to charities preparing thelr actount5 in accordance with the Financial Reporting Standard applicable in the VK and Republk of Ireland IFRS 1021. I have no conceins and havè tome across no other matters in connèction with the examination to whith attention Should be drawTh in this report in order trj enable a proper understandin8 of the atcounts to be reached John Hi>ward IFCAI For and on behèlf of AzetsAudit Services Chartered Accountants 2nd Floor, Re8is House 45 King William Street London EC4R 9AN Date.. kkn._Ku- aOi-
CAMDEN HIGHLINE ¥rATEMENT OF FINANCIAL AcfiviTIES Ilncludin8 the Income and Expendlture Account) FOR THE YEAR ENDED 31 MARCH 2025 Note5 Unr•strided Rethrted Tot41 2015 Tot•1 Fuhd5 2024 In¢ome.' Voluntsry Income In¥e5trnent Income 64.733 4A61 76.081 140,814 4,361 73,147 4,261 Tot Incorne 76.081 145.175 77A( Exp•nthture: Charftable activitie5 149,253 61,765 211,018 95.379 Total expendhure 149,253 61.765 211.018 95,379 Net IncOm(expendI1¢l 80.159 14,316 65y31 117.971 Tr•nsftt5 12.0131 Net mo¥•m•nts In fvnds 18&172 16J29 65.8431 117.971 Re¢w¢Ml•tlon of fund5: Ttstsi fund5 brought forwèrd- Ilest*ed Tot4llundsc•rrledloN•rd 47S.751 16.3291 459A22 477.393 io 393.579 393,579 459,421 I IrKome and expendlt¥rt derive from CMiiftuin8 actlvitles. All reco8nlsed gains •nd1055es are Included inihe Statement of Finan¢l•l Aftivities. The notes rjn p•8e$ 8t0 14form p3rt of th•si finandal statements
CAMDEN HIGHLINE BALANCE SHEET COMPANY NUMBER: 11205376 AS AT 31 MARCH 2025 2024 RESTATED Not•5 2025 rrent assèts Debtors 22.447 14.854 467,271 Cash and bank 433,OQS 455,452 482.125 e/edlttys: Amounts falllni due withln ye•r 161.8731 122,7031 Netcurrent aM•ts 393,579 459,4Z2 Net 4ssets J93,579 459A22 Re5tr1ctedfuThds Unr•strltted lund5 Gervèral funds io 393.579 475.751 116,3291 RtStri¢ted fund5 io TWI fvnds li 459.422 The Ehoritsblt company Is entitled to exemption frorn audlt under Sectbn 477 of Companles Act 2006 for the year ended 31 March 2025. The member5 have not requlred the fharit•ble ¢ompany to obtsln an audlt of its hn•ncial stements for the year ended 31 March 202S in ?ccordance wlth Settion 476 ¢f th COMn5Act 2006. TheTrvsttes •cknowled8e thelr responslbillts for.. l•> en5urin8 that the cgmpany keeps xcountkn8 records whlch compty with Sertion5 386 and 387 of the Comp•fties 2006 and Ibl preparin8 finanual statement5 %vhlch 8¢ a true •nd f•ir view of the State of affairs of ¢ornpany as at the en¢ ea¢h financial year and of its profit or loss for each financial year In accordèn¢e with the requirements of 5e¢tions and 395 ènd which Othe5 ¢omply with the requirements ol the Companles kt 2CQ6 l#tIng to finar statements, $0 far 05 opplicable to thecompany. The finan¢ial statements have been prepèred in ¥¢¢ord•nce with the speclal provSsions ol P•rt 15 of the COmnIeS A¢t 2006 relatln8 to sm•ll charitable companies. The flnancial staternents were approved by the Board the 0S/IU2025 •nd silned cn Its behalf by.. JTerry The notes on pa8es 8t0 14 form p•rtof the5efinoncial statements.
CAMDEN HIGHLINE NOTES TO THE FINANCIAL STATEMEl+irs FOR THE YEAR ENDED 31 MARCH 2025 ACCOLINTING POLiaES l•) General Inlcrfmlon and basls of preparat The Camden Highlire is 3 company limited by guarantee in the United Kingdorn. The addre55 of the re8lStered 0ft4ce 5$ 8lven in the charity information on pa8e l of these hnancial statements. The nature of the charit¢s operations and principal activities are set out on pa8e 2. Thè charitable company constitutes a public beneftt entity as defined by FRS 102. The fina181 statements have been prepared in accordance with Accounting and Reporting by Charltie5'. Statement of Recornrnended Pr¥ctice applicable to charlties prÈpèring their accounts in atcordance with the Financial Reporting Standard applicable In the UK IFRS 1021 issued on 16 July 2015 las updated throygh Update Bulletln published on 2 February 20191, the Financial Reporting Standard applicable in the United Kingdom IFRS 1021, the Charities Act 2011, the Companies Act 2006 and LIK Genèr81ty Accepted Prattice a5 It èppliesfrom l Januèry 2016. The financial sratements are prepared on a EoinE concern basis under the historical cost convention, modifled to include certain items atfairvèlue. The linancial statements are prepared in sterling which is the functional currency of the tharity. The 51Enificant accountin8 poIKies applied in the preparation of these financlil statements are set out below. These policie5 have been consistently applied to all years presented unle$5 Otherwlse stated. Ibl Goin8 Concern At the of approving the fin3ncial statements, the director5 have a reasona expertation that the cornpany has dequate resources to continue in operational existence for the foreseeablè future due to the low fixed costs cf operatlon. Thu5 the director5 continue to adoptthe going concern basis of actounting ITh preparin8 the financial statements. Icl Funds Unrestricted funds - represent hjnds which can be used in ac¢ordonce with the charitable objerts at the discretH)n uf the Trustees. Designated hjnrfs projects. these are funds sÈt aside by the Trustees out of unrestrirted general funds for spErific purposes or Restricted fund5- represent funds that can only be used for particular restricted purposes within the objett5 of the charSty. Restrictions ori5e when specified bythe donoror when the fuThYs are raised ftsr specitic restrlcted purposes. Further explanètion of the nature and purpose ol each fund is included In the notesto the financial ststements. Idl Ih¢tyne All Income is intluded in the Statement of Finaniial Activitie5 ISOFAI when the charity is leg•lly entitled to the in¢orne after any pÈrforrnance conditions have been MÈL the amount can be measured rèliably arxl it 15 probablethèt the inrome will be retewed. Donatlons and le8ades are recognised in the flnancial ststements when the charity is convinced that there is entitlement to income, there is cerrainty of receipt and the amount Sn question is measuraNe. Gfft aid Income Ss accounted for Sn the yeèrthe donation was recelved.
CAMDEN HIGHLINE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLlCItS- contlnued lel Ey4)endrtur¢ All expenditure is èctountèd for on an accyuals basis and has been tla55ified under headings that a88re8ate all cost5 related to the cate8ory. Expenditure is recoEnised whÈre there is a legal or constructwe obligètion to rnake payments to third parties, it is probèble that the settlerneTrt will be required and the amount of the obligation can be measured ieliobly. It is categ0ri5ed under the following hÈading5'. Expenditure on charitsble artivities inEludes costs in relation to the Camden Hishline Park. Ill latIOn ol supportandgovern•nce costs Support costs are those that a5515t the work of the charlty but do not directly represent charitable a£tivities and Include governance costs. admlnistritive office fLJnction cost and premises costs. They are incurred directly in 5UPPOrt of expenditure on the obierts of the charitable companv. Governance costs comprise all tosts involving the public accountèbilityof the charityond Its compliance with regulatlon and Bood prartice. These c05t5 include costs related tothe IndÈpendent examination. statutory audit and leyl fees. Igl Debtors Trade and other debtors are reco8nised at the settletnent arnovnt due. Prepayments arè valued at the amount PTepaid. Accrued income Is measured at the amount due to be received. Ihl Cash at bank •nd in hand Cash at bank and cash in hand includes cash and short term hi8hly liquid inve5tment5 With a short maturity of three rwnths or less from the dète of acqvi51tion or openin8 of the deposit or similar account. ril Creditors and prLSvlslons Creditors are recogni5ed where the CrIty has a present obligation resulting from a past event tt will probèbly result in the transfer of funds to a third party and the amount due to Settle the obli8ation can be measured orestimated rèliabty. Othercredltors ènd actrua15 are recognised at thelr settlement amount dve. til Financi41 in5trumer The charity only has financial a55ets and financial liabilit1È5 of a kind that qualify as basic financial instruments. Basi financial in5trument5 are inili311y recognlsed at trans3ttion value arKI subsequently measurÈd at their 5ettlementvalue with the exception of bank loans which are subsequently measured at amortised cost usin8the eftective interest method. IklTax The charitable company Is considered to pa55 the tests set out in Paragraph I Schedule 6 Finance Art ZOIO arTrd therefore It meets the definition of a charitable cornpany for UK corporation tax purposes. Accordingly, the tharity Is potentially exempt from taxation in respect of income or capital 8ains received within categories covered by Chapter 3 Part 11 Corporation Tax Act 2010 or kction 256 of the Tbxation ol Chargeable Gains Art 1992. to the extent that such incorne or ains are applied exclusively to charitable purposes.
CAMDEN HIGHLINE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 MARCH 2025 AttOUNTING POLICIES. ntINed IllJ¥dymeb)ts and k•ysours of esllm•tlon unurt•lnty Accounting estimate5 and jud8ements are continualty evalyated and are based on hirtorical expertence and other factors. Includin8 expertations of fvtvre ent$that are believed to be reasonable under the circumstances. The followlng judgem•fits l•part from those Ihn8 estimate51 have been made in the proce55 01 applwng the •bove a¢t¢uniin8 PC•liciesthot have had the n$t signifieant effect on arnounts re¢o8nlsed Inthefbnanc131 statements.. There are no key issvmptions CernIng the luture antl other key sotsrces of estimation uncertainty at the rewrtin8 Oate thèt hève a si8nifi£ant rlsk ol cauYn8 8 m•ttri•l adlu5trr*nt to the rryIng•m0untS of assets and liabilities withln the next finan¢i¥l year. 10
CAMDEN HIGHUNE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 VOLUNfARY INCOME UMe#rl¢ted 2025 Re5trlcted 2015 T¢MI 202S Tolal 24 DonatSons 64.733 64.733 70.347 2.800 Tax recoverable under Gfft Ald Grants re1¥461t 76.081 76.081 76MI 144814 73,147 Totd 2024-Rest•t•d 63.543 9,604 73.147 CHARITABLE ACTWlnES Unrestrict•d 2025 ftestrlrted ZO25 Total 2025 2024 C•mden Highline Park 149,2S3 61.765 211,018 95.379 149,253 61.765 211.018 95,379 rotsl 2024. Regtat•d 69.446 25.933 95.379 A14ALY515 OF EXPENDITURE Dlrert Ch*lt•bl• Support Totsl 24 2025 InMe 51 CharltsbleActivltles'. Camden Highlifie P•rk 172,042 38,976 211,018 9S.379 171042 58.976 211,018 95.379 Trt4 2024 72.OC6 23.373 95.379
CAMDEN HIGHLINE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 202S SUPPORTC05TS 202S Subscriptions Bank Charges TephOne and ITc05ts Prlntln& post•Ée and stat10ry L8al and professional fees Sundry expen$es Govemance costs 450 1,104 330 2.277 276 476 325 31,614 633 16.375 1.421 Independent exarnlnationlee 3.250 3,150 38,976 23.373 NET INCOMEIIEXPENDITUREI FOR THÉ¥EArt 2025 2024 Th1s1s ststed afterch•rgin8'. Independent examinatlonlee 3.250 3,150 ANAIVSIS OFSTAFF cosrs. TRUSTEE REMURATION AND EXPEN5ESANDTHE C05T OF KEY MANAGEMENTPERSONNEL 2025 2024 S•lories and wages Soc&1 w¢urity costs 28,fr)0 652 7.652 Th total wera8e monthty number Of employees Ifull-tlme equlvalertl durlni the y••rw35'. Employee tlme has been allocated to dlrectco#s on lh• b•sis of tlme spent. There w•$ I staff employed wlth the charlty durSn8 2024. There were n¢ empltsyee5 earnini above £fjQ,l)00 p•r innum durln8thls year12024.. £nlll Durlng 2025 and 2024. noTrustees were paSd Qr re¢eiwtd •ny other benefitsfrom employment wlth the chèrit•ble ¢ompany. The key man•gemert of the charltabje company mprISI thé Trustees only. 12
CAMDEN HIGHLINE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 DEBTORS 2024 Other debtors 12,202 10,245 3,300 11.554 Taxatlon •nd 50rlal 5ecur6ty 21447 14A54 (REDITOAS: AMOVNTSFALUNG DUE WITHIN OfrIE YEAR 2025 2024 Trade Credltors 8,183 2,366 3.922 16.415 k¢ru•ls and deferred Income Othercredsiors 4.245 49.445 61,873 22.703 Funds-Cuttentye•r i Aprfl 2024 In¢om• ExperKlltwe Tr•15 31 Mlith 202S n•r•l funds 475,751 69,e94 1149.2531 12,0131 393,579 Re5trlcted fvnds Naiional Lottery Herltaie Fund 116.3291 76,081 161,7651 2,013 Tth•l fvndi 459,422 145.175 1211.0181 393.579 10.1 Funds-PrSory•ar. RESTATED i Aprfl Inc¢>n E¥pendlttw• Transfws 31 Marth 2024 G•ner41 funds 477.393 67,804 169,4461 475.751 Rwlaedfvnds M•tional Lottery Heritage Fund 9,604 125,9331 116,3291 Tot•1 lund5 477,393 77,408 195,3791 459,422 ft•strldod Funds. N•11•1 Lottery Herftrye Fund The Camden Hlghllne secured a grant from the Natlonal Lottery Heritage Fund. ThSs Is bein8 Used to dellvÈr Camden HhlIne.. Trocklno the Heritts9e which •irns to reveal and c¢lebf•te the herlts8e surroundin8 the Hi8hline route. It Includes new herf(age conteni mMISSioned from local young pe¢ple. free workshops with lo¢•1 xhools and volunteer-ltd wal*in8 tours. 13
CAMDEN HIGHUNE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ii. ANALYSIS OFNET ASSETS BETWEENTOTAL FUNOS-Currentyear UNestda•d R•strlcted lund5 Totsl Fund balances ai 31 Mar¢h 2025 are represented bv.. Cuvrent assets 455.452 161,8731 455,4S2 161,8731 Cur¥ent Ilabilities 393.579 393.579 11.1 ANALYSIS OF NET ASSETS BETWEENTOTAL FUNDS- Prforyew- RESTATED U•Str1ded fvnds R•stritt•d lunds balancesat 31 March 2024 Ire reprqsented bv.. Current assets Current liabllltles 498,454 122,7031 116.3291 482,125 122,7031 475,751 116,3191 459A22 RELATED PARTYTRANSAcnoNS Included in other creditor5 is 3 balance of £49.44512024.. £16,415 due from), represÈntin8 $4l•ry e05ts of £41.20412024.. £39,783) plu5 VAT due to Camden Town Centre L+mited, a company whg is under eomrnon control of the diOr$. Th15 balance hès been pald post year end. 13. PRIOR YEAR RESTATEMENT OF REsfRicfED FUNDS In revlewlng the prior year financial statements. it was identified that £9,604 of Inceme and £25,933 of expenditure had been incorrectly reco8nlsed In the unrestricted fund •ttd not the restrfcted fund. Therefore, • pnor year re5tstement h•s been made to refiect the coryect figures. The imp4¢t ol the reststement ha5 restslted Sn the folbwin¥'. VMeMrt¢ted fund5 Restrlrted funds Total Fund balances as 31 M•rth 2024-pre restatement Restatement ol restrlcted Income Restatement of resiri¢t•d expenditure 459,422 19,6041 25,933 4S9,422 9,604 125.9331 Fund balonces a5 at 31 March 2024- post r•ststement 475.751 116,3291 459,422 14