## **ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023**
## **HIGHAM HILL HUB CIO**
(Charitable Incorporated Organisation)
## **CHARITY REGISTRATION No: 1193310**
Castle View Accounting Ltd Ground Floor Offices 53 High Street Arundel West Sussex BN18 9AJ
## **HIGHAM HILL HUB CIO**
(Charitable Incorporated Organisation)
## **CONTENTS**
|Page 3|Legal and Administrative Information|
|---|---|
|Pages 4 to 5|Trustees' Report|
|Page 6|Statement of Financial Activities|
|Page 7|Balance Sheet|
|Pages 8 to 15|Notes to the Financial Statements|
|Page 16|Independent Examiner's Report|
2
## **HIGHAM HILL HUB CIO**
(Charitable Incorporated Organisation)
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**CHARITY NUMBER** 1193310 **DATE OF REGISTRATION** 28th January 2021 **START OF FINANCIAL YEAR** 1st January 2023 **END OF FINANCIAL YEAR** 31st December 2023 **TRUSTEES AT 31ST DECEMBER 2023** Rabina Nawaz Max Dewdney Lillian Gerber Clive Bower **LEGAL STATUS** Charitable Incorporated Organisation **GOVERNING INSTRUMENT** CIO - Foundation Registered 28th January 2021
## **OBJECTS**
For the public benefit, to further or benefit the residents of the London Borough of Waltham Forest and the neighbourhood, without distinction of sex, sexual orientation, race or of political, religious or other opinions by association together the said residents and the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interest of social welfare for recreation and leisure time occupation with the objective of improving the conditions of life for the resident. In furtherance of these objects but not otherwise, the Trustees shall have the power: a) To establish or secure the establishment of a community centre and maintain or manage or co-operate with any statutory authority in such maintenance and management of such a centre for activities promoted by the Charity in furtherance of the above objects.
**CORRESPONDENCE ADDRESS** 41 Millfield Avenue London E17 5HH **PRIMARY BANKERS** The Co-operative Bank Plc P.O Box 1011 Ballon Street Manchester M60 4EP **INDEPENDENT EXAMINERS** Castle View Accounting Ltd Ground Floor Offices 53 High Street Arundel West Sussex BN18 9AJ
3
## **HIGHAM HILL HUB CIO**
(Charitable Incorporated Organisation)
## **TRUSTEES' REPORT**
## **FOR THE YEAR ENDED 31ST DECEMBER 2023**
## **Objectives and Activities**
The charity’s purpose is to maintain and run a small hall and grounds for the use of the public of Waltham Forest at low cost and to run activities at and from the site.
As well as hiring out the hall and grounds, the charity runs a Community Outdoor Group which has cycling as its central activity, and a Community Social Activity Group which is a meeting group of needleworkers whose produce is distributed to hospitals and children’s charities and this year introduced a community horticultural and herb growing group.
The Trustees have had regard for the charity’s activities to be exclusively for the public benefit.
## **Achievements and Performance**
The Hub hall and grounds continue to be used for as a very popular venue for children’s parties (a total of 45 bookings), weekly exercises for the elderly, dancing, mothers and toddlers groups, martial arts, cycling, dog training and many other activities.
There is no comparable facility for the use of the public in the immediate area of the Hub, and the facility of having a large fenced outdoor area (which includes a large semi-permanent marquee so that, even in inclement weather, activities can continue) that can be private to the hirer is almost unique in Waltham Forest.
The Community Outdoor Group ran coaching groups for young people on balance bikes, BMX and mountain bikes and cycle mechanics, including running cycling classes for local schools.
During this year we extended our operation to cover BMX cycling based at Gooseley Playing Fields in Newham, partnering with the Custom House and Canning Town Renewal Project.
The Community Outdoor Group activity was grant funded or sponsored by Clarion Housing, National Lottery, Transport for London, Groundworks, London Marathon Trust, Compass Wellbeing, L&Q Housing Crest, Geraint Thomas Cycling Trust and Waltham Forest Council.
The Horticultural and Herb Growing Group provides a weekly group session developing part of the Hub Grounds and teaching members plant growing skills and has been grant funded by Groundworks and Waltham Forest Council.
We are also very pleased that a local SEND group has taken advantage of the Hub as being a safe and secure space for youngsters to take part in communal activities.
The Trustees are continuing to negotiate with the local Council and others towards the building of a new hall on the site. We have now secured planning permission for the proposed new building and are in the final stages of negotiating a 30 year lease at a peppercorn rent. This continuing work has been made possible by a further grant from Locality.
The new park gates to enable out of hours and disabled access have now been installed.
## **Financial Review**
The charity’s main income is associated with the hiring of the hall and grounds. This fund was in robust shape at the end of the period.
The Community Outdoor Group is well funded through grants, and care is taken to ensure that the funds supporting these activities to not go into deficit.
The Horticultural Group is also grant funded, also carefully monitored.
The Community Social Activity Group continues to be funded by Waltham Forest Council in recognition of this important activity.
4
HIGHAM HILL HUB CIO
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## **HIGHAM HILL HUB CIO**
(Charitable Incorporated Organisation)
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2023**
|**Notes**
**INCOMING RESOURCES**
**Incoming Resources from Generated Funds**
Donations, Grants & Legacies
**3a**
Activities for Generating Funds
**3b**
Investment Income
**3c**
Other Incoming Resources
**3d**
**TOTAL INCOMING RESOURCES**
**RESOURCES EXPENDED**
**Costs of Generating Funds**
Cost of Charitable Activities
**4a**
Governance Costs
**4b**
**TOTAL RESOURCES EXPENDED**
**NET INCOMING (OUTGOING) RESOURCES**
Funds Brought Forward
Transfer Between Funds
**5**
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**2023**
**2022**
£
£
£
£
2,694
96,307
99,001
73,721
21,927
-
21,927
20,699
-
-
-
-
-
-
-
2,418
**24,621**
**96,307**
**120,929**
**96,838**
22,106
56,151
78,257
73,959
900
-
900
1,024
**23,006**
**56,151**
**79,157**
**74,983**
**1,615**
**40,156**
**41,771**
**21,855**
24,667
10,980
35,647
13,792
(1,083)
1,083
-
-
**25,199**
**52,219**
**77,418**
**35,647**|
|---|---|
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 8 to 15 form part of these financial statements.
6
HIGHAM HILL HU8 CIO
ASAT 31ST DECEMBER 2023
T*1
314Yotr22
T8wiLle Assets
Cash at Bank m
$2219
78J1X
7Q318
36,347
34347
7W
2&1
$2219
71.418
35,847
7T814
C8
2418•
1#
77M11
Fd801th• ChTrlty
Genwal Fund¥
2&199
2&199
51219
52219
10.980
ToL*I Fur
24199
51219
77A18
Fknt•J LI Sovv£4
## **HIGHAM HILL HUB CIO**
(Charitable Incorporated Organisation)
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31ST DECEMBER 2023**
## **1. ACCOUNTING POLICIES**
## **Basis of Preparation & Assessment of Going Concern**
## **Basis of Preparation**
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2015) (Second Edition, effective 1st January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Charities Act 2011.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
## **Assessment of Going Concern**
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
## **Incoming Resources**
## _**Recognition of Incoming Resources**_
These are included in the Statement of Financial Activities (SOFA) when:
▪ the charity becomes entitled to the resources;
▪ the trustees are virtually certain they will receive the resources; and
▪ the monetary value can be measured with sufficient reliability
## _**Incoming Resources with Related Expenditure**_
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.
## _**Grants and Donations**_
Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
## _**Tax Reclaims on Donations and Gifts**_
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.
## _**Contractual Income and Performance Related Grants**_
This is only included in the SOFA once the related goods or services has been delivered.
## _**Gifts in Kind**_
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable.
## _**Donated Services and Facilities**_
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
## _**Volunteer Help**_
The value of any voluntary help received is not included in the accounts.
## _**Investment Income**_
This is included in the accounts when receivable.
## _**Investment Gains and Losses**_
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
8
## **HIGHAM HILL HUB CIO**
(Charitable Incorporated Organisation)
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023**
## **1. ACCOUNTING POLICIES (continued)**
## **Expenditure and Liabilities**
## _**Liability Recognition**_
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
## _**Governance Costs**_
Include costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advice to trustees on governance or constitutional matters.
## _**Grants with Performance Conditions**_
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
## _**Grants Payable without Performance Conditions**_
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
## _**Investments**_
Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.
## _**Unrestricted funds**_
These funds can be used for the general objectives of the charity as set out in the trustees report. The movements of the unrestricted funds are given in the Statement of Financial Activities.
## _**Restricted funds**_
These funds are where the donor has specified a purpose for the donation made. These restrictions often arise as a result of appeals for special offerings for specific purposes.
## _**Designated funds**_
These funds are funds set aside by the trustees out of unrestricted general funds for particular purposes or projects.
## _**Fixed Assets**_
Fixed Assets are capitalised if they can be used for more than one year and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt.
## _**Depreciation Expense**_
Depreciation is calculated at a rate to write off the cost of tangible fixed assets over their estimated useful lives. The rates applied are as follows:
Fixtures, Fittings and Equipment
25% - Reducing Balance Basis
## **2. TANGIBLE FIXED ASSETS**
The CIO held no fixed assets during this or the previous financial period.
The annual commitments under non-cancelling operating leases and capital commitments are as follows:
31st December 2023 : None
31st December 2022 : None
9
## **HIGHAM HILL HUB CIO**
(Charitable Incorporated Organisation)
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023**
## **3. INCOMING RESOURCES**
|**Note**
**a) Donations, Grants & Legacies**
Gifts & Donations
Grants Received
**5**
**b) Activities for Generating Funds**
Community Social Club
Premises Hire
Sponsorships Income
Subscriptions Income
**c) Investment Income**
Interest
**d) Other Incoming Resources**
Reimbursements
Sundry Income|Unrestricted
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**2023**
**2022**
£
£
£
£
2,694
-
2,694
500
-
96,307
96,307
73,221
**2,694**
**96,307**
**99,001**
**73,721**
-
-
-
293
18,146
-
18,146
18,274
-
-
-
1,270
3,781
-
3,781
862
**21,927**
**-**
**21,927**
**20,699**
-
-
-
-
**-**
**-**
**-**
**-**
-
-
-
1,786
-
-
-
632
**-**
**-**
**-**
**2,418**|
|---|---|
10
## **HIGHAM HILL HUB CIO**
(Charitable Incorporated Organisation)
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023**
## **4. RESOURCES EXPENDED**
|**a) Cost of Charitable Activities**
Administrative Expenses
Cleaning Costs
Coaching Costs
Community Outdoor Project
**5**
Community Social Club Costs
**5**
Equipment Costs
Insurance Costs
Office Costs
Parking Costs
Refunds
Rent & Rates
Repairs & Maintenance
Sundry Expenses
Utilities
**b) Governance Costs**
Independent Examiners Fees
**9**
Legal & Professional Fees|Unrestricted
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**2023**
**2022**
£
£
£
£
842
-
842
968
1,436
-
1,436
1,528
-
-
-
1,025
8,360
55,451
63,811
55,461
-
700
700
300
1,286
-
1,286
591
1,066
-
1,066
1,435
-
-
-
301
-
-
-
354
3,605
-
3,605
4,137
3,032
-
3,032
3,899
2,478
-
2,478
2,235
-
-
-
995
-
-
-
730
**22,106**
**56,151**
**78,257**
**73,959**
900
-
900
700
-
-
-
324
**900**
**-**
**900**
**1,024**|
|---|---|
11
## **HIGHAM HILL HUB CIO**
(Charitable Incorporated Organisation)
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023**
## **5. RESTRICTED FUNDS**
## **CURRENT FINANCIAL PERIOD**
|Clarion Futures COG
COG Community Fibre Grant
COG Foundation Futures Grant
Comic Relief Grant
Community Club Savings
Community Social Club
Compass Wellbeing Grant
Crest William Morris Big Local Grant
Geraint Thomas Cycling Trust Grant
Horticultural Project Grant
Hub ESC Lottery Fund
L&Q Stadium Grant
LBWF COG Grant
LBWF Highams Park Ward Grant
LBWF Hub Ward Grant
LBWF Hub Youth Pilot Project Grant
LBWF Marquee Grant
LBWF Roots Grant
LBWF Ward Grant Community Social Group
LBWF Ward Grant Mower
Locality Hub Development Grant
London Marathon Trust Grant
Lottery Fund Gates Grant
Mayor's Office Marquee Grant
St Mungos Grant
TfL Walking & Cycling Grant
VAYG Diverting Project Grant|**Balance**
Transfer of
**Balance**
**01-Jan-23**
Income
Expenditure
Funds
**31-Dec-23**
£
£
£
£
£
3,830
5,000
8,168
-
662
1,154
-
1,154
-
-
3,970
-
338
-
3,632
-
-
66
66
-
(62)
-
-
62
-
(7)
-
-
7
-
-
22,150
4,029
-
18,121
-
1,000
256
-
744
-
3,250
3,060
-
190
-
5,000
3,576
-
1,424
-
4,950
4,950
-
-
-
7,000
3,698
-
3,302
-
5,000
-
-
5,000
-
700
1,305
605
-
-
-
25
25
-
-
9,950
3,088
-
6,862
1,250
-
1,250
-
-
-
1,000
-
-
1,000
-
750
700
-
50
-
757
757
-
-
-
10,000
1,800
-
8,200
-
7,800
7,447
-
353
845
-
845
-
-
-
-
190
190
-
-
-
128
128
-
-
5,000
4,373
-
627
-
7,000
4,949
-
2,051
**10,980**
**96,307**
**56,151**
**1,083**
**52,219**|
|---|---|
12
## **HIGHAM HILL HUB CIO**
(Charitable Incorporated Organisation)
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023**
## **5. RESTRICTED FUNDS (Continued)**
## **PREVIOUS FINANCIAL PERIOD**
|Access Sport COG Grant
Clarion Futures COG
COG Community Fibre Grant
COG ESC Lottery Fund Grant
COG Foundation Futures Grant
COG Groundwork Grant
Community Club Savings
Community Social Club
LBWF COG Grant
LBWF Marquee Grant
Lottery Fund Gates Grant
LVE Charitable Foundation COG Grant|**Balance**
Transfer of
**Balance**
**01-Jan-22**
Income
Expenditure
Funds
**31-Dec-22**
£
£
£
£
£
-
1,050
1,050
-
-
-
10,000
6,170
-
3,830
-
2,500
1,346
-
1,154
-
9,538
9,538
-
-
-
25,050
21,080
-
3,970
-
2,000
2,000
-
-
(62)
-
-
-
(62)
-
293
300
-
(7)
723
-
723
-
-
-
1,250
-
-
1,250
-
9,400
8,555
-
845
-
5,000
5,000
-
-
**661**
**66,081**
**55,761**
**-**
**10,980**|
|---|---|
Restricted funds are wholly represented by the Charity's cash reserves and are to be expended as specified above.
13
## **HIGHAM HILL HUB CIO**
(Charitable Incorporated Organisation)
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023**
## **6. INVESTMENTS**
The CIO held no fixed assets investments during this or the previous financial period.
## **7. CASH AT BANK AND IN HAND**
||Unrestricted|Restricted|**Total**
**Total**|
|---|---|---|---|
||Fund|Fund|**31-Dec-23**
**31-Dec-22**|
||£|£|**£**
**£**|
|Cash at Bank & in Hand|26,099|52,219
78,318
36,347||
||**26,099**|**52,219**
**78,318**
**36,347**||
|**8. DEBTORS AND PREPAYMENTS**
Sundry Debtors|Unrestricted
Fund
£
-|Restricted
Fund
£|**Total**
**Total**
**31-Dec-23**
**31-Dec-22**
**£**
**£**
-
-
-|
||**-**||**-**
**-**
**-**|
|**9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Independent Examiners Fees|Unrestricted
Fund
£
900|Restricted
Fund
£|**Total**
**Total**
**31-Dec-23**
**31-Dec-22**
**£**
**£**
-
900
700|
||**900**||**-**
**900**
**700**|
## **10. CREDITORS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR**
The CIO held no long term liabilities during this or the previous financial period.
## **11. NET ASSETS BETWEEN FUNDS**
|Fixed Asset Investments
Net Current Assets
Long Term Liabilities|Unrestricted
Restricted
**Total**
**Total**
Funds
Funds
**31-Dec-23**
**31-Dec-22**
£
£
£
£
-
-
-
-
25,199
52,219
77,418
35,647
-
-
-
-
**25,199**
**52,219**
**77,418**
**35,647**|
|---|---|
14
## **HIGHAM HILL HUB CIO**
(Charitable Incorporated Organisation)
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023**
## **12. STAFF COSTS AND NUMBERS**
The Charity employed no members of staff during this or the previous financial period.
## **13. TRUSTEES AND OTHER RELATED PARTIES**
The only payments made to the Trustees consisted of reimbursements of expenses incurred in furthering the Charity's objects and no direct benefits were received by the Trustees during the financial period.
No other payments were made to trustees or any persons connected with them during this financial period. No other material transaction took place between the organisation and a trustee or any person connected with them.
## **14. RISK ASSESSMENT**
The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
## **15. RESERVES POLICY**
The Trustees have considered the level of reserves they wish to retain, appropriate to the CIO's needs. This is based on the CIO's size and the level of financial commitments held. The Trustees aim to ensure the CIO will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Trustees will endeavour not to set aside funds unnecessarily.
## **16. PUBLIC BENEFIT**
The CIO acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the CIO has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the CIO should undertake.
15
## **HIGHAM HILL HUB CIO**
(Charitable Incorporated Organisation)
## **INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS**
Report to the trustees/ members of Higham Hill Hub CIO on the accounts for the year ended 31st December 2023 set out on pages 6 to 15.
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the Charities Act,
- follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
- state whether particular matters have come to my attention
## **Basis of independent examiner’s statement**
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention:
1. which gives me reasonable cause to believe that in any material respect, the requirements:
- to keep accounting records in accordance with section 130 of the Charities Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
K. Collaku MAAT Castle View Accounting Ltd Ground Floor Offices 53 High Street Arundel West Sussex BN18 9AJ
Date: 1st October 2024
16