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2024-06-30-accounts

CITY OF TREES TRUST

CHARITY REGISTRATION NUMBER: 1202636

REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2024

CITY OF TREES TRUST

A REGISTERED CHARITY NO: 1202636

REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2024

INDEX PAGE

PAGE NO. CONTENTS
1 - 8 Report of the Board of Management
9 - 12 Auditors Report
13 Statement of Financial Activities
14 Balance Sheet
15 Statement of Cash Flows
16-24 Notes to the Accounts

1

CITY OF TREES TRUST

Report of the trustees for the Period Ended 30[TH] of June 2024

The trustees present their annual directors’ report and financial statements of the charity for the Period Ended 30th of June 2024. The financial statements comply with the Charities Act 2011, the governing document and the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Reference and administrative information

Charity Name: City of Trees Trust Charity Number: 1202636

Trustees

The trustees and officers serving during the period and since the year end were as follows: Dr Carl Austin-Behan (Chair) (appointed 4[th] April 2023) Alan Quinn (appointed 4[th] April 2023) Dawn Lowry-Hair (appointed 4[th] April 2023) Kevin Coughlan (appointed 17[th] of April 2023) Eleanor Ward (appointed 17[th] of April 2023) Hannah O’Riordan (appointed 17[th] of April 2023) Anais Biaux (appointed 17[th] of April 2023) Tam Watson (Treasurer) (appointed 15[th] of July 2024)

Key Management Personnel

Jessica Thompson Chief Executive Officer Kevin Wigley Operations Manager Helena Lee Business Support Co-ordinator (Co-opted Company Secretary, November 2023)

Registered Office

Discovery Works, Unit 3 Third Avenue Trafford Park Manchester M17 1BW

Auditors

McKellens The Embankment Business Park 11 Vale Road Heaton Mersey Stockport SK4 3GN

Bankers

Lloyds Bank plc, 42-46 Market Street, Manchester Metro Bank, One Southampton Row, London, WC1B 5HA

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CITY OF TREES TRUST

Accountants

Community Accountancy Service Limited The Grange Pilgrim Drive Beswick Manchester M11 3TQ

Divestment

The charity was formerly part of Community Forest Trust (Registered Charity No.1072706) and divested from them on 1[st] July 2023. As part of the divestment, funds relating to City of Trees operations were transferred from Community Forest Trust as detailed in the accounts Notes 11 and 19.

Objectives and activities

The purposes of the charity are:

  1. To promote for the benefit of the public, the conservation, protection and improvement of the physical and natural environment through the planting and nurturing of the urban forest, in both urban and peri-urban areas across Greater Manchester and beyond.

  2. To advance the education of the public through activities and engagement that aim to support all aspects of conservation, protection and improvement of the natural environment in an urban and peri urban setting.

The trustees confirm that they have referred to the Charity Commission’s guidance on public benefit when reviewing the Charity’s aims and objectives, in planning future activities, and setting the policies for the year. City of Trees Trust meets the public benefit principles by specifically meeting these three charitable purposes:

Strategies for Achieving Objectives

We have identified three core aims to guide us in achieving our objectives and identifying the focus of our work:

3

CITY OF TREES TRUST

City of Trees is part of England’s Community Forests. As a Community Forest, all our charitable activities focus on care for the natural environment which encompasses public benefit. We review our aims, objectives and activities every year to ensure that we are meeting our stated objectives. The review includes evaluation of our activities to assess both what we have achieved and how we can learn from the outcomes of our work to contribute to future activities.

Activities for Achieving Objectives - How we work

The charity delivers its charitable aims in various ways:

Our programme of work is spread across three key areas:

We also are developing our offers in terms of:

Structure, governance and management

City of Trees Trust is a charitable incorporated organisation governed by its constitution dated 4[th] of April 2023, and is registered with the Charity Commission (dated 5[th] April 2023).

4

CITY OF TREES TRUST

Recruitment and Appointment of trustees

As set out in the governing document, our trustees are appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees. In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO. A charity trustee who has served for three consecutive terms may not be reappointed for a fourth consecutive term but may be reappointed after an interval of a least one year.

Trustee induction and training

New trustees are provided with information about their role and responsibilities, as outlined in our Trustee Handbook and our Trustee Code of Conduct Policy. Trustees are also given a copy of our constitution, information about current staffing and current policy documents. If a trustee is appointed to a subgroup, they are given further information on funding and internal systems that are specific to that subgroup. Trustee meetings are sometimes held at a planting site where we will first discuss core business, then take part in a planting session. Trustees will be invited to take part in a planting day at least once per year to gain a fuller understanding of the charity’s direct delivery work.

Organisational Structure

The board of trustees administers the charity and are legally responsible for ensuring that resources are used appropriately and only in support of our objectives. The board of trustees meet quarterly to review strategic business and make decisions that provide leadership and direction for the charity. The trustees delegate the day-to-day operations to the CEO and senior managers. A Finance & Risk Subgroup comprising nominated trustees, including the charity Treasurer, and senior staff meet quarterly with the external accountant.

City of Trees Trust believe in rewarding staff fairly and adhere to the National Living Wage standard. We also adhere to a salary framework devised by our outsourced HR provider, Solutions for HR, supported through bench-marking exercises set to remunerate our employees appropriately according to their specific skills and level of experience. We also want to retain skilled and expert staff for the long term and set our salaries at a competitive market rate. Our rates of pay are reviewed annually by our senior management team and trustees.

The senior management team at 30[th] of June 2024 comprised of:

Chief Executive Officer Jessica Thompson
Operations Manager Kevin Wigley
Partnerships Manager Alex Bedford
Communications and Engagement Manager Aimee Lawless
Data Manager Bryan Cosgrove
Green Infrastructure Manager Pete Stringer

Fundraising Standards

City of Trees Trust is a member of the Fundraising Regulator and has an Ethical Fundraising Policy. We fundraise through our in-house fundraising team including a dedicated Partnerships Manager who focuses on building relationships with companies and funding organisations who support our

5

CITY OF TREES TRUST

values. During financial year 2024-25 we will be recruiting a Partnerships Officer whose main focus will be on our individual giving scheme. We also employ one full-time Development Manager and one part-time Development Coordinator who write funding bids to grant-giving bodies.

Partners are required to sign non legally binding agreements when entering into a partnership with City of Trees which clearly outline the partnership expectation, goals, reporting requirements and use of the charity’s logo in marketing materials. We do not outsource fundraising activities to third party organisations. Reports are completed and made available to donors in line with the donor’s partnership agreement reporting schedule.

We did not receive any complaints regarding our fundraising practices during the 23/24 period.

City of Trees have a safeguarding policy which is upheld by all members of staff to ensure that vulnerable people and children are safeguarded when engaging with City of Trees. We have a dedicated child and vulnerable persons safeguarding officer and all staff receive training on our safeguarding policies annually. We regularly review our safeguarding policies to assess risk and ensure that there are clear channels for people to be able to report any concerns they may have. We are committed to ensuring that volunteers, staff, members of the public and other beneficiaries concerns are dealt with in an open and timely manner. In line with the Institute of Fundraising code of fundraising practice, when dealing with vulnerable potential donors, City of Trees will always err on the side of caution. If we suspect that a donor may be vulnerable we will always end the conversation immediately without making a request for a donation and without enquiring about the individual's capacity to make a decision.

Related parties and co-operation with other organisations

None of our trustees receive remuneration or other benefit from their work as a trustee with the charity. Any connection between a trustee or senior manager with any service providers must be disclosed to the full board of trustees in the same way as any other contractual relationship with a related party under our Conflict of Interest Policy.

A review of our achievements and performance

The main achievements during the year are:

6

CITY OF TREES TRUST

standard trees across 20 locations and at many more sites across the region, including at sports clubs and on residential streets.

Grants Made

Grants were made to third parties as part of our funding terms and in pursuit of our objectives as follows:

follows:
Bolton at Home (Urban Tree Challenge)
Oldham Council (Urban Tree Challenge)
Stockport Metropolitan Borough Council (Urban Tree Challenge)
First Choice Homes (Urban Tree Challenge)
Community Forest Trust (Life IP)
Salford City Council (Green Space Fund)
The National Trust
Groundwork Greater Manchester (Woodland creation)
Total		 6,264
27,143
10,022
16,704
15,378
20,000
60,304
127,532
283,347

Plans for Future Periods

Our activities are arranged under the following organisational objectives:

– Unlocking Land (for planting, management, service opportunities)

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CITY OF TREES TRUST

– Engaging communities growing reach across Greater Manchester

Urban forest – growing our urban forest and raising the profile

Financial review

The charity divested from Community Forest Trust on 1[st] of July 2023 and brought over funds and in kind donations totalling £3,040,886. The charity had ended the year with income totalling £4,115,332. Expenditure of £3,365,668 was incurred leaving a surplus of £749,664. Unrestricted reserves at the year end, were £1,127,593 of which £55,861 was designated for general tree maintenance and £101,130 related to capital assets still to be depreciated and £289,586 for future lease commitments.

Investment powers and policy

The trustees, having regard to the liquidity requirements of operating the charity, have recently placed available funds in an interest bearing deposit account. Advice is being taken from an independent financial advisor for the most suitable modes of investment for the charity going forward.

Reserves policy and going concern

The balance held in unrestricted reserves at 30[th] of June 2024 was £1,127,593 of which £681,016 is free reserves, after allowing for funds tied up in tangible fixed assets and designated funds (£446,577). Restricted reserves totalled £ 730,912 with £30,345 relating to fixed assets (spent), £170,756 relating to future maintenance plans and £529,811 relating to revenue.

The trustees aim to establish and maintain free reserves in unrestricted funds at a level which equates to approximately six months of charitable expenditure (currently £1,659,519). This includes a planting budget as grants are largely claimed in arrears so the charity has to invest funds in the initial planting schemes. The trustees consider that this level will provide sufficient funds to meet cash flow demands and respond to changes in the funding environment. Currently free reserves

8

CITY OF TREES TRUST

including designated funds stand at just over 3.6 months running costs. Having regard to the 25/26 budget and supplemented by the general funds the trustees consider that the charity is a going concern.

Risk management

The trustees have conducted a review of the major risks to which the charity is exposed and systems have been established to mitigate those risks. Each risk is assessed according to its likelihood and potential impact, and appropriate actions and procedures are agreed to mitigate any risks the charity faces. Procedures are in place to ensure compliance with health and safety of staff, volunteers, service users and visitors.

Trustees responsibilities in relation to the financial statements

The charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with general applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each period which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2015 and the provisions of the trust deed. They are also responsible for safekeeping the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the trustees

_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Chair Dr Carl Austin-Behan _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Treasurer Tam Watson

24 Date: April 2025

Date: April 2025 24

9

City of Trees Trust

Independent Auditor's Report to the Members of City of Trees Trust

Opinion

We have audited the financial statements of City of Trees Trust (the 'charity') for the year ended 30 June 2024, which comprise the Statement of Financial Activity, Balance Sheet, Statement of Cash Flows and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards comprising Charities SORP – FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Trustees’ Report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

10

City of Trees Trust

Independent Auditor's Report to the Members of City of Trees Trust

Opinion on other matter prescribed by the Charities Act 2011

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Report.

We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the Statement of Trustees’ Responsibilities set out on page 8, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

11

City of Trees Trust

Independent Auditor's Report to the Members of City of Trees Trust

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

• the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

• we identified the laws and regulations applicable to the charity through discussions with directors and other management, and from our knowledge and experience of the charity sector;

• we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charity, including the Charities Act 2011, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation;

• we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

• that identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

• making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;

• considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and

• understanding the design of the charity’s remuneration policies.

To address the risk of fraud through management bias and override of controls, we:

• performed analytical procedures to identify and unusual or unexpected relationships;

• assessed whether judgements and assumptions made in determining accounting estimates set were indicative of potential bias; and

• investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but not limited to:

• agreeing financial statement disclosures to underlying supporting documentation;

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

12

City of Trees Trust

Independent Auditor's Report to the Members of City of Trees Trust

Use of our report

This report is made solely to the charity’s members, as a body, in accordance with the Charities Act 2011. Our audit work has been undertaken so that we might state to the charity’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s members as a body, for our audit work, for this report, or for the opinions we have formed.

...................................... Paul Roper (Senior Statutory Auditor) McKellens Ltd 11 Riverview The Embankment Business Park Vale Road Heaton Mersey Stockport SK4 3GN

28 April 2025

13

CITY OF TREES TRUST

BALANCE SHEET AS AT 30 JUNE 2024

NOTES
FIXED ASSETS
Tangible Fixed Assets
13
CURRENT ASSETS
Stock
14
Debtors & Prepayments
15
Cash at Bank and in Hand
CREDITORS:
Amounts falling due within one year
16
NET CURRENT ASSETS
CREDITORS:
Amounts falling due after more than one year
18
TOTAL NET ASSETS
ACCUMULATED RESERVES
Unrestricted Funds
20
Restricted Funds
20
Approved on behalf of the board of trustees:
------------------------------------------------
Trustee
Dr Carl Austin-Behan
Date April 2025
The notes on pages 16 to 24
24		 £
£
134,687
22,997
3,086,378
2,489,628
5,599,003
(789,190)
(789,190)
4,809,813
(3,085,995)
1,858,505
1,127,593
730,912
1,858,505
------------------------------------------------
Trustee
Mr Tam Watson
form part of these accounts.
2024

14

CITY OF TREES TRUST

(incorporating income and expenditure account)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 30 JUNE 2024

Notes
INCOME FROM:
Donations & Legacies
3
Charitable Activities
4
Other Trading Activities
5
Investment Income
6
Other Income
TOTAL INCOMING RESOURCES
EXPENDITURE ON
Raising Funds
7
Charitable activities
8
TOTAL
NET INCOME (EXPENDITURE)
Transfers between funds
19
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS
Transfer on Divestment
11
TOTAL FUNDS CARRIED FORWARD
19		 Unrestricted
Funds 2024
Restricted
Funds 2024
Total Funds
Period 5
April 2023 to
30 June
2024
£
£
£
136,644
46,844
183,488
320,223
3,583,889
3,904,112
27,624
-
27,624
71
-
71
37
-
37
484,599
3,630,733
4,115,332
46,630
-
46,630
131,523
3,187,515
3,319,038
178,153
3,187,515
3,365,668
306,446
443,218
749,664
(57,617)
57,617
-
248,829
500,835
749,664
878,764
230,077
1,108,841
1,127,593
730,912
1,858,505

The statement of financial activities includes all gains and losses in the year.

The notes on pages 16 to 24 form part of these accounts.

15

STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED 30 JUNE 2024

Reconciliation of net movement in funds to net cash flow from operating activities

Net movement in funds
Add back depreciation
deduct donation in kind
Deduct investment income
Decrease/(increase) in debtors
Increase in stock
Increase/(decrease) in creditors
Net cash used in operating activities
Cash flows from investment activities:
Interest
Purchase of fixed assets
Sale of Fixed Assets
Net cash provided by investing activities
Increase/(decrease) in cash and cash equivalents during
the year
Transfer of Funds on Divestment
Cash and cash equivalents carried forward		 2024
£
749,664
47,353
(16,252)
(71)
(3,086,378)
(22,997)
3,875,185
1,546,504
71
(165,788)
(165,717)
1,380,787
1,108,841
2,489,628

16

CITY OF TREES TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2024

1 ACCOUNTING POLICIES

(a) Basis of preparation and assessment of going concern

The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued January 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. The charity constitutes a public benefit entity as defined by FRS 102.

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

(b) Funds structure

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor.

When the requirements of the restricted funds are met (eg assets are purchased) the transaction is shown as a movement in funds from restricted to capital funds.

Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds where the trustees, at their discretion, have created a fund for a specific purpose.

The charity has created a designated capital fund to meet the future depreciation charge of its assets. Further details of each fund are disclosed in note 16.

(c) Income recognition

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Donations and grants are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation or grant is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period. Grants, including those in restricted funds, specifying performance in future periods are deferred. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

(d) Expenditure Recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings. For more information on this attribution refer to note (f) below.

(e) Taxation & Irrecoverable VAT

The charity registered for VAT. Irrecoverable vat is charged against expenditure. No provision has been made for taxation as exemption has been granted by HMRC from taxation under Sections 466 to 493 of the Corporation Taxes Act 2010 or Section 256 of the Taxation of Capital Gains Act to the extent that surpluses and gains are applied for charitable purposes.

17

CITY OF TREES TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2024

(f) Allocation of support and governance costs

Support costs have been allocated between governance costs and other support costs. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to independent examination and legal and professional fees together with an apportionment of overhead and support costs. Governance costs and support costs relating to charitable activities have been apportioned based on staff time and the usage of facilities and services for management purposes. The allocation of support and governance costs is analysed in note 9.

(g) Costs of raising funds

The costs of raising funds consists of staffing and fundraising overheads.

(h) Charitable Activities

Costs of charitable activities include governance costs and an apportionment of support costs as shown in note 8.

(i) Tangible fixed assets and depreciation

All assets costing more than £500 are capitalised and valued at historical cost. In the charity's opening year, some assets less than £500 have been capitalised on set up. Depreciation is charged on the following basis:

Leasehold Improvements 20% on cost Plant & Equipment 20% on cost Fixtures & Fittings 20% on cost Computer Equipment 33.33% on cost Website 50% on cost The total of any capital grants are recognised in the Statement of Financial Activities in the year they are received, as required by the SORP, and not deferred over the life of the related assets.

(j) Stock

Stock is stated at the lower of cost and net realisable value on a first in first out basis.

(k) Debtors

Trade and other debtors are recognised at settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

(l) Creditors and Provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

(m) Realised gains and losses

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying values or their purchase value if acquired subsequent to the first day of the financial year Unrealised gains and losses are calculated as the difference between the fair value at the year end and their varying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.

(n) Pensions

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions payable for the year are charged against the income and expenditure account. The pension scheme is an auto enrolment compliant scheme. The charity has no liabilities beyond making its contributions and paying across the deductions for the employee's contributions.

(o) Operating Leases

Payments under operating leases are charged to the income and expenditure account in the period to which they relate.

(p) Contingent liabilities

There were no contingent liabilities at 30th June 2024.

18

CITY OF TREES TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2024

(q) Donated Services

The charity had over 1000 volunteers in the period contributing 3,861 volunteer hours, assisting with planting. In addition there were two student placements.

No financial value has been reflected in the accounts for these donated services.

2 NET INCOMING RESOURCES FOR THE YEAR 2024
This is stated after charging: £
Depreciation 47,353
Audit Fees 6,000
3 DONATIONS & LEGACIES
Donations & Gift Aid
Donation - The Mailing Room (match funding)		 Unrestricted
Restricted
£
£
136,644
16,252
30,592		 Total 2024
£
152,896
30,592
136,644
46,844		 183,488
4 INCOME FROM CHARITABLE ACTIVITIES
Groundwork New to Nature
Groundwork - Green Spaces
Life IP
Community Forest Trust conduit grant - Northern Forest
Less: deferred for maintenance
Oglesby Charitable Trust
Trafford Metropolitan Borough Council
Trafford Metropolitan Borough Council - legacy grant
Forestry Commission England - Tree Production Capital
Forestry Commission England - Urban Tree Challenge
Cheshire West & Cheshire Council conduit grant - Trees
Less: deferred for maintenance
Veolia
GMCA - Woodland Creation Accelerator Fund
Local Authority & Housing Association grants
Green Recovery Challenge Fund
Bolton MBC - UKSPF Clean & Green grant
Ignition
City Releaf
Boz Park
Grantscape - Silverdale
Other Grants
Salford City Council Match Funding Grant
Six Town Housing - Match Funding Grant
Services:
Surveys & Feasability Studies
Training & Workshops
Corporate Social Responsibility Education Days
Site Development & Planting
Tree maintenance		 Unrestricted
Restricted
£
£
-
19,055
-
43,250
-
10,030
-
2,041,442
-
(1,269,916)
-
295,000
-
93,750
-
83,184
Grant
61,071
-
412,164
for Climate
1,593,917
-
(340,162)
-
37,391
-
149,223
188,153
125,834
-
74,188
-
13,000
-
24,158
-
44,768
-
17,715
-
22,962
(1,271)
8,750
-
10,281
-
10,627
54,965
-
1,747
-
17,527
-
59,102
479
-
1,728		 Total 2024
£
19,055
43,250
10,030
2,041,442
(1,269,916)
295,000
93,750
83,184
61,071
412,164
1,593,917
(340,162)
37,391
149,223
313,987
74,188
13,000
24,158
44,768
17,715
22,962
7,479
10,281
10,627
54,965
1,747
17,527
59,581
1,728
320,223
3,583,889		 3,904,112

The total government grants receivable in the year to 30th June 2024 was £2,089,427. The specific funders are as follows: £176,934 relates to grants from Trafford Metropolitan Borough Council planting and maintenance; a further £473,234 was received from Forestry Commission England to support the Urban Tree Challenge. Cheshire West and Cheshire Council granted £1,593,917 with £340,162 deferred towards the Trees for Climate project. Greater Manchester Combined Authorities granted £149,223 towards woodland creation which runs to December 2024. Salford City Council gave £10,281 in match funding towards Northern forests and Bury Council gave £13,000 towards urban trees. Bolton council via the UK Shared Prosperity Fund gave £13,000 towards Clean and Green. All terms of the grants have been fulfilled apart from those monies deferred for future project costs and maintenance.

19

CITY OF TREES TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2024

5
INCOME FROM OTHER TRADING ACTIVITIES
100 Trees Club Fundraising
Consultancy
6
INVESTMENT INCOME
Bank Interest Receivable
7
EXPENDITURE ON RAISING FUNDS
Wages & Salaries
Fundraising Costs		 Unrestricted
Restricted
2024
£
£
£
6,000
-
6,000
21,624
-
21,624
27,624
-
27,624
£
71
Unrestricted
Funds
Total 2024
£
£
45,157
45,157
1,473
1,473
46,630
46,630

8 EXPENDITURE ON CHARITABLE ACTIVITIES

EXPENDITURE ON CHARITABLE ACTIVITIES
Employment Costs
Staff Time
Recruitment & DBS Checks
Staff Time
Seconded Staff
Staff Time
Staff Training
Staff Time
Staff Travel
Staff Time
Staff Welfare
Staff Time
Relocation Costs
Floor Area
Rent & Service Charge
Floor Area
Rates & Water
Floor Area
Light & Heat
Floor Area
Waste Collection
Floor Area
Repairs & Renewals
Floor Area
Dilapidations
Floor Area
Security
Floor Area
Cleaning
Floor Area
Insurance
Floor Area
Project Costs:
Travel and Subsistence
By Project
Vehicle Expenses
By Project
Project Consultancy
By Project
Partner Grants Made
By Project
Trees & Supplies
By Project
External Contractors
By Project
Materials
By Project
Protective Clothing
By Project
Small Tools & Equipment
By Project
Equipment Hire
By Project
Project Refreshments
By Project
Events
By Project
Room Hire
By Project
Insurance
By Project
Other Costs
By Project
Laundry
By Project
Support Costs
Note 9
Governance Costs
Note 9
Restricted
Unrestricted
Total		 Corporate
Social
Responsibility
Tree Planting
&
Maintenance
Total 2024
£
£
£
2,377
962,689
965,066
3,299
3,299
56,975
56,975
11,868
11,868
133
133
60
60
12,886
12,886
86,167
86,167
10,982
10,982
12,126
12,126
4,406
4,406
8,235
8,235
36,000
36,000
819
819
3,167
3,167
1,685
1,685
3
9,241
9,244
29,714
29,714
34,335
34,335
283,347
283,347
599,870
599,870
519,909
519,909
254,402
254,402
10,660
10,660
1,449
7,340
8,789
19,470
19,470
1,087
657
1,744
6,284
6,284
1,180
1,180
8,693
8,693
4
1,175
1,179
353
353
2,724
263,875
266,599
49,392
49,392
7,644
3,311,394
3,319,038
-
3,187,515
3,187,515
7,644
123,879
131,523
7,644
3,311,394
3,319,038

20

CITY OF TREES TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2024

9 ALLOCATION OF GOVERNANCE AND SUPPORT COSTS

----- Start of picture text -----
|||||| |---|---|---|---|---| |Governance| |Support Costs|Costs|Total 2024| |£|£|£| |Management & Admin Salaries|Staff Time|81,621|4,296|85,917| |Rent & Service Charge|Floor Area|9,574|9,574| |Rates & Water|Floor Area|1,220|1,220| |Light & Heat|Floor Area|1,347|1,347| |Waste Collection|Floor Area|489|489| |Repairs & Renewals|Floor Area|915|915| |Dilapidations|Floor Area|4,000|4,000| |Cleaning|Floor Area|352|352| |Insurance|Floor Area|187|187| |Equipment Rental|Direct|3,766|3,766| |Computer Maintenance & Software|Direct|14,650|14,650| |Marketing & Communications|Direct|14,212|14,212| |Minor Equipment|Direct|3,582|3,582| |Office Refreshments|Direct|2,842|2,842| |Printing, Post and Stationery|Direct|1,963|1,963| |Subscriptions & Licences|Direct|10,077|10,077| |Telephone|Direct|2,002|2,002| |Website Costs|Direct|1,217|1,217| |Payroll Costs|Direct|2,691|2,691| |HR Costs|Direct|10,691|10,691| |Sundry|Direct|1,705|1,705| |Depreciation|Direct|47,352|47,352| |Irrecoverable VAT|Direct|30,104|30,104| |Accountancy Support|Direct|20,040|20,040| |Audit & Accountancy|Governance|11,962|11,962| |Legal Fees|Governance|17,850|17,850| |Professional Fees|Governance|4,722|4,722| |Management fee (CFT)|Governance|10,000|10,000| |Bank Charges & Interest|Governance|562|562| |TOTAL|266,599|49,392|315,991| |Restricted Funds|245,851|27,146|272,997| |Unrestricted Funds|20,748|22,246|42,994| |Total|266,599|49,392|315,991|

----- End of picture text -----

Included within audit and accountancy is £6,000 relating to the audit of the charity's accounts. A provision of £3,000 was set aside in relation to a specific fund audit . No other fees are payable to the auditors.

----- Start of picture text -----
|||| |---|---|---| |10|STAFF COSTS|2024| |£| |Wages and Salaries|967,500| |Social Security Costs|78,314| |Pension Costs|50,326| |1,096,140|

----- End of picture text -----

No employee earned £60,000 per annum or more.

The charity considers its key staff comprises the Chief Executive Officer, Operations Manager and Business Support Co-ordinator.

----- Start of picture text -----
||| |---|---| |The remuneration, including employers NICs and pension contributions, of key staff in the year was £141,349| |The average number of employees during the year was:| |Tree Planting & Maintenance|27| |Management & Administration|6| |33|

----- End of picture text -----

21

CITY OF TREES TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2024

11 TRANSFER ON DIVESTMENT

TRANSFER ON DIVESTMENT £ Donation 3,040,886 Less:deferred for future maintenance Trees for Climate (1,193,961) Northern Forest (738,084) 1,108,841

12 TRUSTEES' REMUNERATION AND EXPENSES

No remuneration has been paid or is due to be paid to any of the trustees in respect of the period. No reimbursement of expenses has been made or is due to be made to any of the trustees in respect of the period.

13 FIXED ASSETS
Leasehold
Improvement
s
Plant &
Equipment
Fixtures &
Fittings
Computer
Equipment
Website
COST
£
£
£
£
£
Transferred on Divestment
-
8,927
1,425
5,900
-
Additions
122,084
6,803
540
4,502
31,859
Disposals
-
-
-
-
-
At 30 June 2024
122,084
15,730
1,965
10,402
31,859
DEPRECIATION
£
£
£
£
£
Provided in the year
24,417
3,146
393
3,467
15,930
Disposals
-
-
-
-
-
At 30 June 2024
24,417
3,146
393
3,467
15,930
NET BOOK VALUE
At 30 June 2024
97,667
12,584
1,572
6,935
15,929
14 STOCK
At lower of cost and net realisable value
15 DEBTORS & PREPAYMENTS
Trade Debtors
Other Debtors
Accrued Income
Prepayments
Restricted
Unrestricted
16 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade Creditors
Deferred Income
Other Creditors
Social Security and Other Taxes
Accruals
Restricted
Unrestricted		 Total
£
16,252
165,788
-
182,040
£
47,353
-
47,353
134,687
2024
£
22,997
2024
£
123,911
168,038
2,757,423
37,006
3,086,378
2,874,484
211,894
3,086,378
2024
£
195,548
456,128
7,976
34,689
94,849
789,190
674,197
114,993
789,190

22

CITY OF TREES TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2024

17 DEFERRED INCOME

Deferred income comprises grants set aside for future maintenance commitments.
Amount deferred from divestment transfer
Amount deferred in year
18
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Deferred Income - Maintenance		 2024
£
1,932,045
1,610,078
3,542,123
2024
£
3,085,995
3,085,995

19 ANALYSIS OF CHARITABLE FUNDS

Restricted Revenue:
Bolton Orchards
Urban Tree Challenge
Ignition
Oglesby Charitable Trust
Life IP - Natural Course
City Releaf
Environment Agency - Crompton Moor
Green Recovery Challenge Fund
Green Social Prescribing
Groundwork - Green Spaces
Green Spaces - other
Nature for Health
New to Nature & UFA's
Silverdale - Grantscape
TCMP Trafford
Veolia SWP
WCAF
Tree Production Capital Grant & match
Trees for Climate - Other
UFA
Medlock Landscape Assessment
Maintenance Funds
Boz Park
Northern Forest Grow Back Greener
CWAC Trees for Climate
Managing Manchester's Trees
Capital:
Oglesby Charitable Trust
Donation in Kind - equipment
CWAC Trees for Climate
Tree Production Capital Grant
Total Restricted Funds
Barnfield
Cheshire West & Chester Council - Trees
for Climate
Northern Forest Grow Back Greener
(conduit grant via CFT) & match		 Transferred
on
Divestment
net of
deferrals
Incoming net
of deferrals
Transfers
Outgoing
Balance At
30/06/2024
£
£
£
£
£
-
10,000
-
(1,138)
8,862
9,926
-
-
-
9,926
(177,204)
481,472
54,214
(473,956)
(115,474)
5,057
24,158
-
-
29,215
-
809,952
(21,227)
(793,506)
(4,781)
289,677
295,000
(12,467)
(280,890)
291,320
(4,373)
10,030
-
(20,906)
(15,249)
(605)
44,768
-
(25,997)
18,166
-
-
-
(106)
(106)
(77,906)
74,188
3,540
178
-
11,147
-
-
(2)
11,145
39,032
43,250
-
(31,926)
50,356
-
479
-
(479)
-
-
-
12,570
(12,570)
-
-
32,055
-
(28,847)
3,208
-
25,502
-
(25,429)
73
140,956
176,934
-
(22,574)
295,316
-
37,391
-
(34,331)
3,060
(13,335)
149,222
-
(200,347)
(64,460)
-
91,663
(4,898)
(114,624)
(27,859)
-
1,253,755
(118,776)
(1,100,912)
34,067
-
1,728
-
(1,728)
-
(11,000)
8,750
2,250
-
-
3,026
-
-
-
3,026
14,726
17,715
-
(2,302)
30,139
-
26,469
7,223
(11,086)
22,606
-
-
118,011
-
118,011
953
-
(953)
-
-
-
-
12,467
-
12,467
-
16,252
-
(4,037)
12,215
-
-
765
-
765
-
-
4,898
-
4,898
230,077
3,630,733
57,617
(3,187,515)
730,912

23

CITY OF TREES TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2024

19 cont…

Transferred

Restricted Funds from Page
Unrestricted:
General Funds
Designated - lease commitments
Designated - Maintenance Funds
Designated Capital Funds
Transfer on Divestment
Transfers		 on
Divestment
net of
deferrals
Incoming net
of deferrals
Transfers
Outgoing
Balance At
30/06/2024
£
£
£
£
£
230,077
3,630,733
57,617
(3,187,515)
730,912
823,856
484,599
(449,286)
(178,153)
681,016
-
-
289,586
-
289,586
54,908
-
953
-
55,861
-
-
101,130
-
101,130
878,764
484,599
(57,617)
(178,153)
1,127,593
1,108,841
4,115,332
-
(3,365,668)
1,858,505
On 5th April 2023 City of Trees Trust became an established
charitable incorporated organisation and divested its projects
on 1st July 2023 from Community Forest Trust, registered
charity no.1072706.
Transfers are made to the designated capital fund due to grants
being spent on fixed assets. The balance represents the book value
of assets still to be depreciated.

Transfers are also made to ringfence monies commited to leases

Purpose of Restricted Funds: Barnfield Development of a community tree nursery and National Urban Forestry Centre Bolton Orchards Ongoing establishment and maintenance of 5 orchards for Bolton Council Defra Urban Tree Challenge Ongoing establishment and maintenance of standard trees across Greater Manchester Ignition Development of innovative financing solutions for investment in Greater Manchester's natural environment Northern Forest Grow Back Greener Ongoing establishment and maintenance of standard trees across Greater Manchester Oglesby Charitable Trust General support for ongoing organisational activities and costs Life IP - Natural Course Funding for improved design of projects to better understand and overcome some of the biggest barriers preventing the achievement of "good ecological status" in the North West River Basin District City Releaf Project development and delivery : semi-mature tree planting in Manchester City Centre Environment Agency - Crompton Moor Installation of natural flood management projects and ongoing monitoring of their impact Green Recovery Challenge Fund Capital works and volunteer engagement in Bury and Trafford Green Social Prescribing Baselining and development of GSP network, bringing together stakeholders and practicioners Green Spaces Supporting community-led projects across Greater Manchester Nature for Health Administration and chairing of network New to Nature & UFA's To support new posts,training and development. Silverdale - Grantscape Capital works (planting), biodiversity and conservation, and volunteering engagement at Silverdale Salford TCMP Trafford Management, coordination and delivery of the Trafford Countryside Management Partnership, in conjunction with Trafford Council, AMEY plc and The Conservation Volunteers

Ongoing establishment and maintenance of 5 orchards for Bolton Council Ongoing establishment and maintenance of standard trees across Greater Manchester

Veolia SWP WCAF Tree Production Capital Grant Designated Funds

Capital works and volunteer engagement at Sale Water Park,Trafford Revenue funding for Woodland Creation Advisors and Coordinator Capital works project at Barnfield, Bury

Amounts are ringfenced to cover outstanding lease commitments on the 3rd Avenue property, to cover unfunded woodland maintenance and to cover future depreciation still to be charged on assets (spent funds).

24

CITY OF TREES TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2024

19 Cont …

Purpose of Restricted Funds:

Cheshire West & Chester Council - Trees Tree planting project UFA Green skills development Medlock Landscape Assessment Woodland condition assessment and identification of potential planting areas

20 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible Fixed Assets
Net Current Assets
Long Term Liabilities
Net Assets at 31 March
CAPITAL COMMITMENTS
Contracted but not provided for		 Unrestricted
Funds
Restricted
Funds
Total 2024
£
£
£
104,342
30,345
134,687
1,023,251
3,786,562
4,809,813
-
(3,085,995)
(3,085,995)
1,127,593
730,912
1,858,505
£
nil

21 CAPITAL COMMITMENTS

Contracted but not provided for

22 OPERATING LEASE COMMITMENTS

The total future lease payments under non-cancellable
operating leases are:
Within one year
Between 2 - 5 years
After 5 years		 Equipment
Land and
Buildings
Total
2024
2024
2024
£
£
£
575
81,000
81,575
1,511
229,500
231,011
-
-
-
2,086
310,500
312,586

A new 5 year lease in respect of the property at Discovery Works, Third Avenue, Trafford Park runs from May 2023 to April 2028.

23 There are no transactions with related parties. City of Trees Trust divested from Community Forest Trust but do not share any trustees in common, though continue to be a partner in funded projects.

24 FINANCIAL INSTRUMENTS

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised on a transaction value and subsequently measured at their value with the exception of bank loans which are subsequently measured at an amortised cost using the effective interest method.

25 POST BALANCE SHEET EVENTS

There are no significant post balance sheet events that the trustees consider would have an impact on the financial statements as presented.

City of Trees 30 June 2024 accounts for signature-agreement

Final Audit Report

2025-04-29

Created: 2025-04-24 By: City of Trees Team (team@cityoftrees.org.uk) Status: Signed Transaction ID: CBJCHBCAABAAvwFsRusf3MEVBifeJ6vlEQ1CRmBVVxH4

"City of Trees 30 June 2024 accounts for signature-agreement" History

Document created by City of Trees Team (team@cityoftrees.org.uk)

2025-04-24 - 3:43:11 PM GMT

Document emailed to Carl Austin-Behan (carl@austin-behan.uk) for signature

2025-04-24 - 3:47:46 PM GMT

Email viewed by Carl Austin-Behan (carl@austin-behan.uk)

2025-04-24 - 4:33:40 PM GMT

Document e-signed by Carl Austin-Behan (carl@austin-behan.uk)

Signature Date: 2025-04-24 - 4:34:34 PM GMT - Time Source: server

Document emailed to Tam Watson (tam@tamwatson.com) for signature

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Email viewed by Tam Watson (tam@tamwatson.com) 2025-04-24 - 4:43:34 PM GMT

Document e-signed by Tam Watson (tam@tamwatson.com)

Signature Date: 2025-04-24 - 4:44:02 PM GMT - Time Source: server

Document emailed to Jonathan Roper (paul.roper@mck.co.uk) for signature 2025-04-24 - 4:44:05 PM GMT

Email viewed by Jonathan Roper (paul.roper@mck.co.uk) 2025-04-29 - 11:03:07 AM GMT

Signer Jonathan Roper (paul.roper@mck.co.uk) entered name at signing as JP Roper 2025-04-29 - 11:04:26 AM GMT

Document e-signed by JP Roper (paul.roper@mck.co.uk) Signature Date: 2025-04-29 - 11:04:28 AM GMT - Time Source: server

Agreement completed.

2025-04-29 - 11:04:28 AM GMT