2024-03-31-accounts

WORKS PARK East London Waterworks Park Company number: 13154915 Charity number: 1199414 Report and financial statements for the 12 months ended 31 March 2024

Reference and administrative details	3
Structure, governance and management	4
Objects and activities	6
Achievements and performance	7
Financial review	12
Statement of responsibility of the directors	16

Independent Examiner’s Report to the directors of East London Waterworks Park 18

Statement of financial activities (incorporating an Income and Expenditure Account)

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East London Waterworks Park is incorporated in England and Wales as a charitable company (Company number: 13154915). It is also a registered charity in England and Wales (Charity number: 1199414). The registered office is at 45 Lyne Crescent, Walthamstow, London, E17 5HY.

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Directors:	Abigail Woodman	Chair (appointed 25/01/21)
	Nathan Miller	Director (appointed 28/11/21)
	Peter Mudge	Director (appointed 25/01/21)
Company Secretary:	Abigail Woodman
Company number:	13154915
Charity number:	1199414
Registered office:	45 Lyne Crescent, Walthamstow, London, E17 5HY
Independent Examiner:	Eilish Kavanagh
Bankers	The Co-operative Bank plc
	P.O. Box 101
	1 Balloon Street
	Manchester, M60 4EP
	The Charity Bank Ltd
	Fosse House
	182 High Street
	Tonbridge, TN9 1BE

East London Waterworks Park is incorporated in England and Wales as a charitable company (Company number: 13154915). It is also a registered charity in England and Wales (Charity number: 1199414). The registered office is at 45 Lyne Crescent, Walthamstow, London, E17 5HY.

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The directors present their report and financial statements for the twelve months ended 31 March 2024.

The directors confirm that the financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP) applicable to charities preparing their accounts in accordance with FRS 102.

East London Waterworks Park was incorporated as a company limited by guarantee on 25 January 2021. It was registered as a charity by the Charity Commission for England and Wales on 22 June 2022. It is governed by a Memorandum of Association and Articles of Association.

While East London Waterworks Park originated as a community group and wants to retain the camaraderie associated with a community project, we are cognisant that East London Waterworks Park must be a professional organisation, with robust policies and procedures, and an experienced management team. We have, therefore, worked hard to develop an organisational structure that blends a de-centralised sociocratic model of decision-making enabling a volunteer-run organisation to function effectively, with a more traditional approach to management and decision-making that ensures accountability.

East London Waterworks Park is a sociocratic organisation and decisions are made according to sociocratic principles of governance. Work is carried out by groups called ‘circles’. Each circle is responsible for its own workstream and reports back to the parent circle, the hub. Decisions are made by consent not consensus, and there is consent when no one has a valid objection. This enables the organisation to work through issues collaboratively, but also ensures that decisions are made and can be made quickly. Everyone involved belongs to at least one circle and is welcome to join hub meetings. The hub meets every two weeks and the circles meet every two weeks or every four weeks depending on their workload.

To ensure the organisation is owned and managed by the community, a clear pathway to membership has been established, centring on active involvement in the day-to-day activities of the project. Anyone can attend a meeting to find out about our work; they are a

East London Waterworks Park is incorporated in England and Wales as a charitable company (Company number: 13154915). It is also a registered charity in England and Wales (Charity number: 1199414). The registered office is at 45 Lyne Crescent, Walthamstow, London, E17 5HY.

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guest. If they get involved, they become a friend. And friends who demonstrate their ongoing commitment to the project can apply to become members (the equivalent of shareholders in a charitable company).

The governance circle is East London Waterworks Park’s management team. It sets the organisation’s strategic direction, manages all contractual relationships, and ensures the charity meets its legal and financial obligations. It also develops, or supports the development of, the policies and procedures that ensure East London Waterworks Park is well-organised. The work of the governance circle, like the work of the other circles, is overseen by the hub so that everyone involved in the project has an opportunity to understand and contribute to its work. This gives the management team a depth and breadth of experience to draw on, and ensures organisation-wide buy-in for all major decisions.

East London Waterworks Park’s three directors (otherwise referred to as ‘trustees’) belong to the governance circle and attend all hub meetings. They also attend regular Finance sub-committee and Executive sub-committee meetings after governance circle meetings, and meet four times a year at board meetings, to formally discuss and approve decisions

East London Waterworks Park is incorporated in England and Wales as a charitable company (Company number: 13154915). It is also a registered charity in England and Wales (Charity number: 1199414). The registered office is at 45 Lyne Crescent, Walthamstow, London, E17 5HY.

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according to the charitable company’s Articles of Association. The directors are appointed from the membership and elected at the Annual General Meeting.

East London Waterworks Park has no related parties or close relationships with other charities.

The object of East London Waterworks Park is to promote the conservation, preservation and improvement of the physical and natural environment for the public benefit by purchasing land, opening it up to public access and returning it to nature, and by promoting biodiversity and prudent use of natural resources.

East London Waterworks Park is a community-led charity that wants to buy land in East London and transform it into a new biodiverse park with wild swimming ponds and community spaces that are accessible to all for free. We believe the project is developing a scalable model that will enable urban and rural communities around the country to secure ecological gains, stability and prosperity.

The directors have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties. They have ensured East London Waterworks Park’s programme of activities is always in line with the company’s object, and the focus of the period covered by this report has been working to buy land and open it up to public access and return it to nature:

• We have continued to try to engage with the landowner to buy the land.

• We have continued to co-design the park through extensive listening and collaborative design workshops, exploring how we will return the site to nature and promote biodiversity and prudent use of natural resources, and how we will ensure the park is fully accessible and welcoming to the whole community.

• We have worked to strengthen future fundraising capabilities.

East London Waterworks Park is a volunteer-run organisation, with no paid members of staff. Volunteers are essential to all we do and we couldn’t operate without them.

East London Waterworks Park is incorporated in England and Wales as a charitable company (Company number: 13154915). It is also a registered charity in England and Wales (Charity number: 1199414). The registered office is at 45 Lyne Crescent, Walthamstow, London, E17 5HY.

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Buying the land

The site of the future East London Waterworks Park is currently owned by the Secretary of State for Levelling Up, Housing and Communities, and managed by LocatED, the Department for Education’s arms-length property company.

In March 2021, we received a letter – via our local MP – from the responsible junior minister at the Department for Education at the time. It said:

LocatED, the Department’s arms-length property company, is managing the disposal of the site as it has not been possible to find an educational use. We will advertise the site to other Government Departments or public sector bodies. If no education or public sector need is established, the Department retains the option to sell the site for a commercial return.

Taking heart from this letter, we spent a year working on our plans for the site. Then, in March 2022, we met with LocateED. We were told that other parties had shown interest in the site, and we would be notified when it was put up for sale. We were also told that our interest in purchasing the land would only be taken seriously if we had finance to back it up. So, three months later, we launched the Crowdfunder fundraising campaign to great success, raising over half a million pounds and securing a philanthropic loan for the balance of our offer: £1.5 million in cash + £18.5 million in social value.

In March 2023, we wrote to LocatED and made an offer for the site. In response, we were told:

As previously discussed, the free schools planned at the Lea Bridge Road site are no longer being proposed. As a public sector body, prior to considering commercial disposal of any site, we are obliged to consider alternative educational or public sector uses for the site. The site is not currently being marketed, nor has it been confirmed that it will be.

We identified a clear shift in the wording, from a stated intention to dispose of the site and begin the disposal process by advertising the site to other public sector bodies to a vaguer sense that something might happen at some point in the future. Nevertheless, without any indication from the Department for Education that it had changed its plans, we continued with

East London Waterworks Park is incorporated in England and Wales as a charitable company (Company number: 13154915). It is also a registered charity in England and Wales (Charity number: 1199414). The registered office is at 45 Lyne Crescent, Walthamstow, London, E17 5HY.

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our attempts to purchase the site. We believed we were making progress but, in July 2023, a promising email thread with staff at the Department for Education about arranging a meeting went quiet. On 1 August 2023, we wrote to our supporters:

Naturally, we are trying to seek clarification, but we strongly believe a new planning application for the site will be submitted in due course. This could be a planning application for new schools or it could be a planning application for an alternative use that would allow the site to be marketed with planning permission.

While it is possible to read this as a setback, we believe it can also be viewed as a positive sign: the government knows it must do something with the site and, if this new planning application is rejected by Waltham Forest Council like the previous one, our offer to buy the site will be strengthened because the alternative options will be reduced in number.

But how likely is it that the planning application will be turned down? Until we know what is planned, we cannot know for certain. However, we know that there is no need for additional school places in Waltham Forest and Hackney, so it is unlikely that a planning application for new schools will be met with any more interest than it was in March 2019, when the original application was firmly rejected. Waltham Forest Council has also ruled out the site for housing due to its protected designation: as Metropolitan Open Land, East London Waterwork Park is the only credible – and best – option for the site.

Attempts to find out what was going on were met with silence and so we waited. Then, out of the blue, on 18 January 2024 we received an email from LocatED notifying us that the Department for Education had identified an educational use for the site. Five days later, the London Innovation and Improvement Alliance (LIIA) announced that it plans to build a secure children’s home on the site.

While we do not question the need for a secure children’s home in London, we do not think it is an appropriate use for the site on Lea Bridge Road. The land is Metropolitan Open Land and should be protected from development. LIIA claims it is the only suitable location in London for the facility, but no evidence to support this assertion has been provided. Furthermore, numerous requests to view the documentation detailing the site selection process and analysis have been rebuffed.

East London Waterworks Park is incorporated in England and Wales as a charitable company (Company number: 13154915). It is also a registered charity in England and Wales (Charity number: 1199414). The registered office is at 45 Lyne Crescent, Walthamstow, London, E17 5HY.

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Given the substantial sum of money we have raised and the community’s continuing support for East London Waterworks Park, we decided to oppose the planning application to build a secure facility for children and to focus our campaign on the benefits that East London Waterworks Park will bring to nature and to thousands of people across London and beyond. In March 2023 we launched two petitions, one directed at Waltham Forest Council with the aim of triggering a full council debate on the future of East London Waterworks Park, and one directed more widely at the Department for Education, the Mayor of London and Waltham Forest Council, imploring all three to reconsider the proposed development and prioritise the realisation of East London Waterworks Park.

At the present time, we believe the planning application will be submitted in Summer 2024.

Fundraising

Given the uncertainty over the future of East London Waterworks Park we consciously reduced our fundraising efforts in this financial year, holding just two small fundraising events:

• a quiz and raffle at the Princess of Wales, a pub close to the site we want to transform into East London Waterworks Park, in September 2023

• Green Sketching, outdoor art sessions that connect participants to nature through sketching, run by Sharon Drew in October 2023.

The money already raised to buy the site has been set aside in an account with the Charity Bank, an ethical bank that uses its savers’ money to lend to charities and social enterprises. We fervently hope we will be able to use it for its intended purpose. However, if it proves impossible to buy the site and progress the East London Waterworks Park project, we will proceed as described on our Crowdfunder page: we will become a grant-making body and the money raised will be used to support relevant, local projects in accordance with our charitable object. If we get to this point, we will discuss how we go about it with the community before proceeding.

Community engagement

Instead of fundraising, we focused our efforts on community engagement.

East London Waterworks Park’s inclusivity listening project continued throughout the year. It is designed to ensure that everybody feels welcome in and around the project and that the park is designed to welcome everybody. Our volunteers have carried out over 100 in-

East London Waterworks Park is incorporated in England and Wales as a charitable company (Company number: 13154915). It is also a registered charity in England and Wales (Charity number: 1199414). The registered office is at 45 Lyne Crescent, Walthamstow, London, E17 5HY.

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depth interviews about nature, outdoor spaces, and our plans for the park and, between April 2023 and March 2024, they spoke with people from the following groups:

• People from disadvantaged backgrounds and people on low incomes (Made in Hackney, October 2023)

• People with experience of homelessness (The People’s Recovery Project, October 2023)

• Muslim people at Jamia Masjid Ghousia (Waltham Forest Islamic Association, Lea Bridge Road Mosque, November 2023)

• Young people making community reparations (Hackney Youth Justice Service, November 2023)

• People with South Asian Heritage (Lea Bridge Library, November 2023)

• Children and young people with special educational needs (The Together Space, January 2024)

• Black people (African Development and Advocacy Centre, January 2024)

• People with Latin American heritage (Sweet Paper Creations and Family Emotional Wellbeing Project, January 2024)

• LGBTQ+ people (Rainbow Grow Hackney, January 2024)

• Christian people (St Thomas' Church, Hackney, February 2024)

• People focusing on improving their mental health (Waltham Forest Black People's Mental Health Association, February 2024)

• Women (Revert 2 Reality Wellbeing Centre, February 2024)

• Disabled people (Outward, March 2024)

In April 2023, we published the first version of our design proposal for East London

Waterworks Park’s wetlands habitats, detailing the rewilding strategies we are proposing to adopt and the wild species we hope to attract. In May 2023, we published the first version of our forest school proposal. Created by forest school leaders, it sets out

operational and landscape recommendations for a space where the community will be able to learn with nature, becoming resilient, independent and creative people.

Learning is at the heart of East London Waterworks Park: we are a learner-led organisation, developing our vision for our park through iterative research and design processes, and we work with educational organisations around the world to create learning projects to

East London Waterworks Park is incorporated in England and Wales as a charitable company (Company number: 13154915). It is also a registered charity in England and Wales (Charity number: 1199414). The registered office is at 45 Lyne Crescent, Walthamstow, London, E17 5HY.

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provide students with meaningful learning experiences. Here are a selection of learning projects that ran between April 2023 and March 2024:

• East London Waterworks Park was a live case study for McKenna Montgomery, a postgraduate student at the Anhalt University of Applied Sciences in Bernberg in Germany throughout 2023, as she prepared her Masters thesis on natural swimming ponds.

• We carried out longitudinal inclusivity research with the eco-club at Kingsmead School, culminating in a workshop in July 2023 where pupils expressed their hopes and dreams for the outdoor learning spaces in the park.

• We developed lesson plans and conducted a site-perimeter walk with pupils at Buxton School in January 2024, developing insights into how young people hope to interact with nature locally.

• We hosted graduate students from the Worcester Polytechnic Institute in Massachusetts in the USA between January and March 2024, who interviewed primary school teachers and researched the National Curriculum to create a set of learning-innature activities for primary school pupils.

Finally, in March 2024, we exhibited a selection of outstanding photographs submitted to our patterns in nature and wild swimming photography competition at The Mill in Walthamstow.

Strengthening our governance structure

In March 2023, we appointed Achates Philanthropy to carry out a fundraising feasibility snapshot. We asked Achates to explore the fundraising landscape, where and how we should target our fundraising efforts, and what we need to do to make East London Waterworks Park attractive to funders. The report was delivered in June 2023.

As a result, we have defined our priority audience groups (people from lower socioeconomic groups, people with global majority heritage, young people under 25, older people over 65, disabled people, and LGBTQIA+ people), thought about how we phase the transformation of the site, and thought about how we build relationships with funders before we need to approach them for money. We have also embarked on efforts to expand our trustee board.

East London Waterworks Park is incorporated in England and Wales as a charitable company (Company number: 13154915). It is also a registered charity in England and Wales (Charity number: 1199414). The registered office is at 45 Lyne Crescent, Walthamstow, London, E17 5HY.

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Reporting performance

East London Waterworks Park is not yet operational, so all efforts are targeted towards creating an effective and resilient organisation that is able to negotiate with the landowner, raise the money to develop the site and open it up to the public. With this in mind, our primary outcomes and impacts are centred on learning: learning as an organisation and learning as individuals.

• We are learning how to develop an environment-first community-led approach to land ownership that sees nature and people thriving together.

• We are learning how to work together effectively, how to make decisions efficiently and how to manage conflict actively and positively.

• We are learning about community needs, particularly the needs of groups that are historically underrepresented in environmental projects, building a picture of what ‘inclusive’ looks like and developing processes that will enable this learning to guide the project into the future.

• We are sharing our professional skills with each other, learning how to develop our project management skills, our communication skills, our fundraising skills, our research skills, our design skills, and so much more.

• And we are learning how to put nature first when we make decisions.

Participants have already noticed how taking part in the group has helped them grow in other aspects of their lives and our learning is already inspiring others.

This financial year looks very different to the previous financial year. Last year, we undertook a major crowdfunding fundraising campaign. This year, our fundraising was limited because we focused on community engagement and trying to engage with decision makers.

During the twelve months to 31 March 2024, funding totalling £28,057, came from five sources:

1. £14,025 from interest

2. £10,908 from donations and Gift Aid associated with donations

East London Waterworks Park is incorporated in England and Wales as a charitable company (Company number: 13154915). It is also a registered charity in England and Wales (Charity number: 1199414). The registered office is at 45 Lyne Crescent, Walthamstow, London, E17 5HY.

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1. £1,430 from gifts in kind (financial services provided by S. Welsh and the Independent Reviewer)

2. £754 from fundraising events (£605 from the quiz and raffle at the Princess of Wales, and £149 from the Green Sketching)

3. £940 from the sale of donated goods (£800 from the sale of jeans donated by Blackhorse Lane Ateliers and £140 from the sale of images at the photo competition exhibition).

During the same period, expenditure, totalling £15,492, focused on three main areas:

1. £3,362 on public engagement and representation (including £1,777 on the listening project and £1,173 on advertising the petitions)

2. £8,520 towards Achates Philanthropy’s fundraising feasibility snapshot

3. £3,360 on general administration costs.

At year end, the Charity Bank savings account – where the money donated to buy the site is held – held £564,866.24.

The remaining funds, totalling £42,907.76, have been carried forward.

All funds are unrestricted.

East London Waterworks Park has no employees.

Reserves policy

Currently, East London Waterworks Park has minimal administrative costs, but maintains reserves necessary to meet committed project costs for the next few years. As at 31 March 2024, all reserves were unrestricted and stood at £607,771 (2023: £595,206) and will be used to fund future activity costs.

Going concern

The directors believe there to be no uncertainty about East London Waterworks Park’s ability to continue as a going concern.

East London Waterworks Park is incorporated in England and Wales as a charitable company (Company number: 13154915). It is also a registered charity in England and Wales (Charity number: 1199414). The registered office is at 45 Lyne Crescent, Walthamstow, London, E17 5HY.

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Principal risks and uncertainties

		Risk	Likelihood (1–5, with 5 being highest)	Severity (1–5, with 5 being highest)	Mitigation
	1 2	We cannot buy the land. We fail to raise the capital sum required to buy the site.	5 3	5 5	We are working hard to oppose the planning application which, if approved, will signal the end of the East London Waterworks Park dream. However, if it proves impossible to buy the site, donations already received will be used to support relevant, local projects in accordance with the charity’s object. We are working hard to ensure we are able to raise the capital sum required to buy the site. If, however, we fail to purchase the land as planned, donations already received will be used to support relevant, local projects in accordance with the charity’s object.
	3	We fail to raise the capital required to transform the site and deliver our current vision.	4	4	Once we have purchased the land, we will be able to deliver on our fundamental promise to create a new open space for the community. While aspects of the project may then take longer than planned, this is a flexible and long-term project that can be delivered in stages appropriate to the funding received.

East London Waterworks Park is incorporated in England and Wales as a charitable company (Company number: 13154915). It is also a registered charity in England and Wales (Charity number: 1199414). The registered office is at 45 Lyne Crescent, Walthamstow, London, E17 5HY.

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	4	We are unable to secure sufficient income to operate.	3	5	The site will be designed to minimise on-going costs, so the core offering of a new open space will be available even if we are only able to deliver other aspects of the project intermittently.
	5	We are unable to reconcile our environment- first approach with community expectations and what is required to run a viable business.	3	4	We acknowledge that we will need to manage competing priorities. However, we are committed to working through such clashes to demonstrate that they are possible to reconcile. In fact, demonstrating that a thriving business and community open space can also be good for nature is one of our founding principles.
	6	We discover the site is too contaminated to deliver our current vision.	3	3	Existing evidence suggests that the problem is not insurmountable, with levels of contamination typical of a brownfield site in inner London. While important aspects of the project may need to change as we gain more understanding of the nature of the land, the fundamentals transcend any problems significant contamination will cause.

East London Waterworks Park is incorporated in England and Wales as a charitable company (Company number: 13154915). It is also a registered charity in England and Wales (Charity number: 1199414). The registered office is at 45 Lyne Crescent, Walthamstow, London, E17 5HY.

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Plan for the future

Our focus for the forthcoming financial year is twofold:

1. We will be working to oppose the forthcoming planning application to build a secure children’s home on the land we want to transform into East London Waterworks Park. The site is Metropolitan Open Land, with the same status as Green Belt, and it should be protected from development of any kind. East London Waterworks Park will bring myriad benefits to the area and improve health and wellbeing for thousands of people. It will link the marshes of the Lower Lea Valley back together, creating acres of new habitat for wildlife during a climate and ecological emergency. Natural swimming ponds will provide inclusive opportunities for open-water swimming. Listed heritage buildings from the East London Waterworks Company era will be brought back into use for the community. A forest school will educate a new generation of children about living in harmony with nature. This vision is too precious to lose to a facility that should be built somewhere else, somewhere that is not protected Metropolitan Open Land.

2. The inclusivity, design and learning circles will continue to develop our vision for East London Waterworks Park as a community-owned park that puts nature first.

The directors of East London Waterworks Park are responsible for preparing the directors’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the East London Waterworks Park and of the incoming resources and application of resources, including the income and expenditure, of the East London Waterworks Park for that period. As a registered charity, these financial statements have been prepared in accordance with the rules laid down for trustees. Trustees are required to:

• select suitable accounting policies and then apply them consistently

• observe the methods and principles in the Charities SORP

East London Waterworks Park is incorporated in England and Wales as a charitable company (Company number: 13154915). It is also a registered charity in England and Wales (Charity number: 1199414). The registered office is at 45 Lyne Crescent, Walthamstow, London, E17 5HY.

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• make judgements and estimates that are reasonable and prudent

• state whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements

• prepare the financial statements on the going-concern basis unless it is inappropriate to presume that the company will continue in operation.

The directors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the East London Waterworks Park and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the East London Waterworks Park and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the East London Waterworks Park's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the company guarantee to contribute an amount not exceeding £1 to the assets of the company in the event of winding up. The total number of such guarantees at the time of writing is 18. The directors are members of the company but this entitles them only to voting rights. The directors have no beneficial interest in the company.

The directors’ annual report has been approved by the directors on 15 August 2024 and signed on their behalf by:

Abigail Woodman Chair

East London Waterworks Park is incorporated in England and Wales as a charitable company (Company number: 13154915). It is also a registered charity in England and Wales (Charity number: 1199414). The registered office is at 45 Lyne Crescent, Walthamstow, London, E17 5HY.

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I report to the company directors on my examination of the accounts of the company for the 12 months ended 31 March 2024.

Respective responsibilities of trustees and examiner

The directors of East London Waterworks Park have chosen to prepare the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

Having satisfied myself that the accounts of East London Waterworks Park are not required to be audited under Part 16 of the 2006 Act, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

Since East London Waterworks Park’s gross income is more than £25,000, your examiner needs to be a member of a body listed in section 145 of the 2011 Act. I confirm that I am a member of the Chartered Institute of Management Accountants, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the East London Waterworks Park as required by section 130 of the Act; or

2. the accounts do not accord with those records.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Name: Eilish Kavanagh Date: 23 August 2024

Signature:

East London Waterworks Park is incorporated in England and Wales as a charitable company (Company number: 13154915). It is also a registered charity in England and Wales (Charity number: 1199414). The registered office is at 45 Lyne Crescent, Walthamstow, London, E17 5HY.

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WATER WORKS PARK East London Waterworks Park Statsment of financial activttie {incorporating an Income and Expenditurg P£countl For the year ended 31 March 2024 Unrestricted FurKIs Restricted Funds 2024 Total 2023 Total Note Income from.. Donations and legacies Other trading actiwb.es Interest Income 12.338 1.694 14.025 12,338 1,694 14,025 578.454 15.142 Total income 28,057 28,057 593.596 Expenditure on- Raising funds Charitable activities Purchase and rewllding of land Public engagement and representation strategic development 586 31,808 12,630 752 4.706 8.856 4,706 8,856 Total expenditure 15,492 15,492 45,190 Net movement in funds 11565 12,565 548,406 R8eoneiliation of funds Totsl funds brought forward 595.206 46.800 Total funds carriod forward 607,T11 607,771 595,206 l of the above resutts are deriv￿j from conb"nuing acknvities. There %%ere no other recognised gains or k)sses other than those slated aLy)ve. The attached notes fom part of these finanaal statements. East London Waterworks Park is incorporated in England and Wales as a tharitatrAe cornpany (Company number.. 131549151. It is also a registered charity in England and Wales (Charity number.. 1199414). The registered office Is at 45 Lyne Crescent, Walthamstow, London. E17 SHY. 19

WATER WORKS PARK East London Waterworks Park Balanc• sho•t As at 31 Mareh 2024 2024 2023 )t Fixed assets Tangible fL¥ed assets Currènt ass•ts DebloT5 Stock Cash at bankand in hand 881 41,168 600 557.250 607.015 607.896 599.018 Creditrxs: amounts due wilhin 1 year 125 3,812 N•t eurrnnt ass•ts 607,771 595.206 Net assets 10 607,771 595.206 Funds unfeSt￿ted Funds DestyJn3ted funds General fvnds 564.866 543.277 51.929 Totsl unreSt￿ted funds 607.771 595.206 Total Funds 607,771 595.206 For the year ending 31st March 2024 the conwany ￿￿S entitled to exenwtion from audit under sectw)n 477 of the Conpans Act 2006. and the nmbers have not requirgd tho Ix)nyany to obtsi) an audit of its accounls in 8c¢y)rdanix vthh seclK)n 476. Th8 dlr8ctors a(no%%lèdge thak Tasponstiths for o)rrptykng vhlh the requkennts of the Act ￿ respg 10 8cuuntng record5 and the prppardlK)n of a￿UnIs. These acr￿Unts have been prep8rEd ar£o￿an￿ the prOV￿nS app￿￿b￿ to corrpanies ￿Jbie(l to the smal corrpanies regirrE. The finan￿al staterrEnts have been p￿pa￿d n accordance the spec4al p￿V￿onS of Part 15 of the Companies Act 2006 and were approved and s*Jned on behaw of the c¥ectO￿ by.. Abigail Woodman Chair Date.. 15 August 2024 The notes to the a(xxtrunts fom part of these finan(xal ststernnts East London Waterworks Park is incorporated in England and Wales as a tharitatrAe cornpany (Company number.. 131549151. It is also a registered charity in England and Wales (Charity number.. 1199414). The registered office Is at 45 Lyne Crescent, Walthamstow, London. E17 SHY. 20

WATER WORKS PARK East London Waterworks Park Statement of cash flows For the year ended 31 March 2024 Note 2024 2023 Cash flows from operating activities Net cash provided by operating activities 12 49.765 505,336 Change in cash and cash equivalents in the year 49.765 505,336 Cash and cash equivalenls at the beginning of the year 557.250 51,914 Cash and cash equivalenls at the end of the year 13 607.015 557.250 East London Waterworks Park is incorporated in England and Wales as a tharitatrAe cornpany (Company number.. 131549151. It is also a registered charity in England and Wales (Charity number.. 1199414). The registered office Is at 45 Lyne Crescent, Walthamstow, London. E17 SHY. 21

WATER WORKS PARK East London Waterworks Park Notes to the Financial Statements For the year ended 31 March 2024 1 Accountlng Pollcles Basis of preparation of financial statoments The financial statements have been prepared in accordance with Accounting and Reporting by Charrtiès.. Statement of Recommended Practlce applKable lo chath.es preparing thebr accounts In accordance with the Finanual Rep)￿n9 SlarKlard applicable in the UK ar￿ Republic of Ireland IFRS 102- effective 1 January 20151- (Char￿eS SORP FRS 1021 and the Companies Act 2006. The charitable company meets the deffin￿on of a public benefft entity under FRS 102. Assets and liabilrties are initialty recognised at historical cost or transaction valua unlgss otharwise stated in tha relevant accounting policy or note. b Going concom The Directors do not conspjer that there are any sourcgs of estimatKJn or uncertainty at the Teporling date that have a signrficant risk of causing a material atjjuslment to the carrying amounts of assets and1[at>ll￿e$. c Incomo Income. including income from government and other grants. is recognised when the charrtable company has entrtlement lo the lunds. any perfomiance con¢JitKJns attached lo the Sncome have been mel. it is Probab￿ that the income Vrfill be received and that the amount can be measured reliably. Grants are credited lo income Mthen they are recarvable unless they aro for activities relating ¥iecrficalty to a specffic fufvre peri¢xl. in Mthich case they afe deferred lo that penc*J. Income received under contracts for seNlces is reccgnised in the finandal statements in propotlon to the percentage 01 completion of the contract. d Donatlons of glfts, services and facllltles Donated prolesslonal servtis and fac11￿e$ are recognlsed as Income when the charllable company has control over the item or receNed the service. any conditions a5souated with the donath)n have been mel. the receipt of economic benefft from the use by the charitable company of the item is probable and that economic benefft can be maasured reliably. In accordance wqth tha Charities SORP IFRS 1021, voluntser time is not recc#Jnised so refer to the lJustees' annual report for more Inlormatoon alxjut thelr conlributoon. On racaipl, donalgd grfts. professional services and donatad facilrtigs are recognisad on the basis of the value of the gfft to the charrtable company, which is the amount the company would have bgan willing to pay to obtain services or faulth-es of equivalent economic benefit on the open market.. correspondlng amount ts then reccgnised In expenditure In Ihe perood of recelpt. e Fund accounting Unrestrlcted funds are available lo spend on activrties that further any of the purposes of the charitable company. Designated funds are unrestricted fijnds which the directors have deaded at their discretion lo set aside to use for a specific purpose. Restricted funds are donat￿nS which the donof has specrfied are to bo solèty used for particular areas of the charitabla companys work or for specrfic projects undertaken by the company. East London Waterworks Park is incorporated in England and Wales as a tharitatrAe cornpany (Company number.. 131549151. It is also a registered charity in England and Wales (Charity number.. 1199414). The registered office Is at 45 Lyne Crescent, Walthamstow, London. E17 SHY. 22

WATER WORKS PARK East London Watetworks Park Notas to tho Financial Statements For tho y8ar onded 31 March 2024 1 Accountlng Pollcles Icontlnued) f Expenditure and irrecoverable VAT Expenditure is recognised once thgre is a legal or constructive obligation to mako a paymant to a third paty, it is probable that sethement will be required and the amount of the obluation can be measured reliably. Expendrture is classrfied under the folloKqng activity hea¢Jings'. Costs of raising furKls comprise of trading costs and Ihe costs incurred by the charitable company in inducing third parbes lo make voluntary contributions to IL as well as lh8 cost of any activities with a fundraising purpose. Expenditure on charrtable activ￿"e$ indudes Ihe costs of ¢Jelivering services and other aclivthes undertaken to further the puo>oses ol the cha￿table company and thelr assoclated support costs. Where costs cannot be direcvy attributed. they have been allcÉaled to activities on basis consistent Vdith their use of resources. I￿eCoverable VAT is ¢harged as a cost again$1 the actmty forwhKh the expenditure was Incurrei1. g Allocation of sUpF￿rt costs Support costs are those functKJns that assist th8 work of tha charitable company but do not direclly undertake charrtable activthes. Support costs comprise the overhead costs of the canlral functbon. Gov8rnanc& costs are lh8 costs associated wrth tho govemance arrangements of the charrtabla company. These costs are associated Mqth constrtutional and statutory requirements and include any costs assoC￿tea wrth the strateglc management ol the companys ath"vrtSes. SupFJOrt and governance costs are rfrallocated lo each of the athrties on the foll￿Wing basis which i8 an ostimala of the amount of lime attributab￿ to each aC￿lty 2023124 2022123 Raising funds Purchase and rewqlding of land Public engagement and empowamienl Strategic DevelL¥)ment 10.0% 40.0% 40.0% 10.0% 40.0% 40.0% 20.0% 0.0% h Debtors Trade and other debtors are recognised at the setuemenl amount due. Prepa￿nents are valued al the amount prepaid. I Cash at bank and in hand Cash al bank and cash in hand includes cash and short term highly IHuid investments with a short maturity of three months or less from the date of acquisilion or opening of th8 deposit or similar account. j Creditors and provisions Creditors and provisions are recognised where th8 chafitable company has a present obligation resulting from a past event that hqll probabty rasult in the transfer of funds to a third paty and the amount due to setlle the obligation can be measured or estimated reliably. Creditors and provisions are nom)ally recognised at their setuement amount after allowing for any trade discounts due. East London Waterworks Park is incorporated in England and Wales as a tharitatrAe cornpany (Company number.. 131549151. It is also a registered charity in England and Wales (Charity number.. 1199414). The registered office Is at 45 Lyne Crescent, Walthamstow, London. E17 SHY. 23

WATER WORKS PARK East London Waterworks Park Note5 to the Financial Statements For the year ended 31 March 2024 2 Income from donations and legacies 2023 Total Unrestricted Restricted Total Individual donations Grft Aid Corporate donations Spa¢ehive donabons General grants Grfis in kind 6,809 6.809 4,099 457,469 88.566 5,494 20,000 6,925 1,430 1.430 Total donations and legacies 2024 12.338 12.338 578.454 Total donatK)ns and legaeies 2023 578.454 The grfts in kind relate to financial semees provide(I by S_ Welsh and independent audit services. These are based on estimates provided by these individuals as to how much the seNces would cost rf available Commercially. 2024 Total 2023 Total 3. Other trading activities unrestr.cted Restricted income from fundraising events Sales Sales of donated goods 754 754 6,061 850 8,231 Total other trading athitsos 1,694 15.142 2024 Total 2023 Total 4. Investment income unresth.cted Restricted Interest on Charty Bank saMng5 account 14.025 East London Waterworks Park is incorporated in England and Wales as a tharitatrAe cornpany (Company number.. 131549151. It is also a registered charity in England and Wales (Charity number.. 1199414). The registered office Is at 45 Lyne Crescent, Walthamstow, London. E17 SHY. 24

WORKS PARK East London Waterworks Park Notes to the Financial Statements For the year ended 31 March 2024 Analysis of expenditure Public •ngagement Purchasg 01 land & Strategic rewilding representation deveolpment Govemance Support costs 2024 Total 2023 Total Raising funds Consultancy Administration eosts Project costs Cost of raising fund$ Gov•rnanc• costs 5.400 2,198 6.373 30.734 487 3,010 3.010 11,882 260 3SO 3.382 8.520 250 350 250 3,382 8.520 350 3,010 10,492 45.190 Suppport costs Governance costg 301 35 1.204 140 1,204 140 301 13,0101 350 Total expenditure 2024 686 45.190 Prior year Unrestricted dirèct expenditur• Restricted dired ¢xp¢nditurg Unr95tricted support & qovemanc costs allocated 30,734 11,557 218 487 2,196 46,190 1,074 1.073 536 487 2,196 Total 8XP8nditur8 2023 31,808 12.630 752 45,190 Of the total expenditure, £15.492 was unrestricted12023'. £45,190) and £nil was restricted12023'. £nill. East London Waterworks Park is incorporated in En9land and Wales as a charitable cornpany (Cornpany number.. 131549151. It is also a reglstered charity in England and Wales (Charity nurnber.. 11994141. The registered office Is at 45 Lyne Crescent, Walthamstow, London, E17 SHY. 25

WATER WORKS PARK East London Waterworks Park Notes to the financial statomonts For th8 year ended 31 March 2024 6 N•t incom• for tho y•ar This is Sta￿ after charging" 2024 2023 Independent eXami￿S r￿n￿nerati(￿. Indep￿Ident examiner IGrfI in kiTh1} 330 330 7 Anatysis of stafl cost8, trustse remuneration and oxpense8, and the cost of key management p•rsonn•l Theie wete rn stèff em by ch&ty12023". nill. No trustee recefftl remune[atN￿ ￿ reimtmjrsement of eyp&)ses12023. nll 8 Debtors 2024 2023 Debt￿S Prepayments 20 861 40,563 605 881 41.168 8 Stock 2024 2023 tlon8ted Art 6CM) 600 Al 31st May. we held 115 pairs of ¢knated jeans ￿1¢h we hope to se￿. No valuation has been ￿aCed (m Ihis sl(Kk due to Un￿rtaInty ol at what future sa￿S wll 9 Cre(Iltors: amounts due wlthln 1 ypar 2024 2023 Trade credIt(￿S 12$ 3,813 12S 3.813 10 Analysls of net assets btheen funds General unrestricted Designated Re5tri¢ted Total fvnd5 Tangib￿ Fixed Asset5 Current A Li8bilib-es 43.030 564.866 11251 607,896 125 East London Waterworks Park is incorporated in England and Wales as a tharitatrAe cornpany (Company number.. 131549151. It is also a registered charity in England and Wales (Charity number.. 1199414). The registered office Is at 45 Lyne Crescent, Walthamstow, London. E17 SHY. 26

WATER WORKS PARK East London Waterworks Park Notes to the finan¢ial statements For the year ended 31 March 2024 Net assets at 31 March 2024 42.905 564.866 607.771 11 Movements in funds At1Jan 2023 At 31 Mar 2024 Incomt Expenditurè Traftstsrs Unrestricted funds Designated funds General funds 543.277 51.929 21.589 21.589 564,866 28.057 15.492 Total unrestricted funds 595,206 28,057 15,492 607,771 Total funds 595,206 28,057 15,492 607,771 East London Waterworks Park is incorporated in England and Wales as a tharitatrAe cornpany (Company number.. 131549151. It is also a registered charity in England and Wales (Charity number.. 1199414). The registered office Is at 45 Lyne Crescent, Walthamstow, London. E17 SHY. 27

WATER WORKS PARK East London Waterworks Park Notes to the financial statements For the year ended 31 March 2024 12 Reconciliation of net income I lexpenditurel to net cash flow from operating activities 2024 2023 Net income for the reporting period las per the statement of financial activities) Decrease in debtor5 Decrease in stock Decrease in creditors 12,565 40,287 600 3,688 548.406 140.2821 16001 2,188 Net cash (used in) operating activities 49,764 505,336 13 Analysis of cash and cash equivalents 2024 2023 Cash at bank and in hand 607,015 557.250 607,015 557,250 East London Waterworks Park is incorporated in England and Wales as a tharitatrAe cornpany (Company number.. 131549151. It is also a registered charity in England and Wales (Charity number.. 1199414). The registered office Is at 45 Lyne Crescent, Walthamstow, London. E17 SHY. 28