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2023-03-31-accounts

West Wickham Common and Spring Park Wood Coulsdon and other Commons

Annual Report and Financial Statements for the year ended 31 March 2023

Charity registration numbers 232988 and 232989

CONTENTS

ORIGINS OF THE CHARITY ..................................................................................... 1 STRUCTURE AND GOVERNANCE .......................................................................... 2 ACHIEVEMENTS AND PERFORMANCE .................................................................. 7 FINANCIAL REVIEW ................................................................................................. 9 TRUSTEE’S RESPONSIBILITIES ........................................................................... 12 INDEPENDENT AUDITOR’S REPORT ................................................................... 14 STATEMENT OF FINANCIAL ACTIVITIES ............................................................. 17 BALANCE SHEET.................................................................................................... 18 NOTES TO THE FINANCIAL STATEMENTS .......................................................... 19 REFERENCE AND ADMINISTRATION DETAILS ................................................... 32

West Wickham and Coulsdon | Annual Report and Financial Statements 2022/23

ORIGINS OF THE CHARITY

West Wickham, Spring Park and Coulsdon and other Commons is a collection of separate sites comprising of over 275-hectares of area of open space, made up of natural chalk grassland, wooded pasture, copse and natural wooded areas, including several veteran species. Its natural and cultural heritage are of national importance, the legacy of centuries of interaction between people and the environment. The Coulsdon and other Commons were designated as part of the South London Downs National Nature Reserve in 2019.

Acquisition

In 1883 the City of London Corporation bought the freehold to the greater part of Coulsdon Common as one of the four Coulsdon Commons. Further acquisitions were made in 1924 (a strip of land on the north side of Stites Hill Road and part of Rydons Wood), 1936 (the remainder of Rydons Wood), 1939 (the area known as Merlewood) and 2003 (an enclosure which was the site of a windmill). The City of London Corporation also owns a plot of land adjacent to, but not part of Coulsdon Common that is occupied by the Merlewood Estate Office, tied accommodation for its Rangers and the Lodge Garden. This land is not public open space. In 1926, the City of London Corporation was given the woodland at Spring Park as a gift from Colonel Sir Arthur and Stephen Hallam Farnaby Lennard of Wickham Court. In 1927, the area of open meadow between the woodland and the Addington Road was sold to the City of London Corporation from the same vendors for a cost of £1,623 2s 6d.

The City of London Corporation bought the four Coulsdon Commons, including Kenley, in 1883 from the Lord of the Manor of Coulsdon, Edmund Byron. During the First World War the Air Ministry requisitioned the whole Common (20.6 hectares) to form part of Kenley Aerodrome. After the war only the northern half was returned but 25 ha of adjacent agricultural land was compulsory purchased and given to the City in substitution for the land lost to the airfield, now owned by the Ministry of Defence (MoD). In 1965 the City of London Corporation extended its holding when it bought land between Welcomes Road and Kenley Lane. Then in 1983 the City acquired land outside the perimeter track of the airfield that was no longer required for military purposes. Finally, in 2004, a small parcel of land, (0.63 hectares) linking Kenley and Coulsdon Commons was returned from the MoD.

Farthing Downs was also part of the 1883 acquisition. Prior to this, it belonged to the Lord of the Manor of Coulsdon. In 2002 New Hill, together with Eight and Ten Acre, was bought at auction by the City of London Corporation from a developer. In 2004, Woodplace Farm Fields to the west of Farthing Downs were also purchased by the City of London Corporation, following a successful local fund-raising appeal.

Riddlesdown Common was the last of the four ‘Coulsdon Common’ also acquired in 1883. Coombes Wood and Donkey Field were acquired in 1929, the Bull Pen in 1973, Riddlesdown Quarry and adjacent Quarry Field in 1996, and the Riddlesdown Cottage plot in 2006.

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West Wickham and Coulsdon | Annual Report and Financial Statements 2022/23

TRUSTEE’S ANNUAL REPORT

STRUCTURE AND GOVERNANCE

GOVERNING DOCUMENTS

The governing document is the Corporation of London (Open Spaces) Act 1878. The charities are constituted as charitable trusts.

GOVERNANCE ARRANGEMENTS

The Mayor and Commonalty and Citizens of the City of London (also referred to as ‘the City Corporation’ or ‘the City of London Corporation’), a body corporate and politic, is the trustee of West Wickham Common and Spring Park Wood Coulsdon and other Commons. The City Corporation is trustee acting by the Court of Common Council of the City of London in its general corporate capacity and that executive body has delegated responsibility in respect of the administration and management of these charities to various committees and sub-committees of the Common Council, membership of which is drawn from 125 elected Members of the Common Council and external appointees to those committees. In making appointments to committees, the Court of Common Council will take into consideration any particular expertise and knowledge of the elected Members, and where relevant, external appointees. External appointments are made after due advertisement and rigorous selection to fill gaps in skills. Elected Aldermen and Members of the City of London Corporation are appointed to the Epping Forest and Commons Committee governing West Wickham Common and Spring Park Wood Coulsdon and other Commons by the Court of Common Council of the City of London Corporation.

Members of the Court of Common Council are unpaid for support provided to the charity and are elected by the electorate of the City of London. The Key Committees which had responsibility for directly managing matters related to the charities during 2022/23 were as follows:

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West Wickham and Coulsdon | Annual Report and Financial Statements 2022/23

All of the above committees are ultimately responsible to the Court of Common Council of the City of London. Committee meetings are held at the Trustee’s discretion in public (except where it is not considered in the charity’s best interests to do so), supporting a decision-making process which is clear, transparent and publicly accountable.

The charity is consolidated within City’s Cash as the City of London Corporation exercises operational control over their activities. City’s Cash is a fund of the City Corporation that can be traced back to the 15th century and has been built up from a combination of properties, land, bequests and transfers under statute since that time. Investments in properties, stocks and shares are managed to provide a total return that:

The trustee believes that good governance is fundamental to the success of the charities. An initial review of governance was undertaken to ensure that the charity is effective in fulfilling its objectives, and further more detailed work is to commence in 2023/24 as part of a review of the City of London Corporation’s Natural Environment charities. Reference is being made to the good practices recommended within the Charity Governance Code, with a focus on ensuring regulatory compliance and the ongoing maintenance of an efficient and effective portfolio of charities that maximise impact for beneficiaries.

ORGANISATIONAL STRUCTURE AND DECISION-MAKING PROCESS

The charities are administered in accordance with their governing instruments and the City Corporation’s own corporate governance and administration framework, including Committee Terms of Reference, Standing Orders, Financial Regulations and Officer Scheme of Delegations. These governance documents can be obtained via a request to the email address stated on page 32.

Each Member by virtue of their membership of the Court of Common Council, its relevant committees and sub-committees, has a duty to support the City Corporation in the proper exercise of its functions and in meeting its duties as trustee of the charities by faithfully acting in accordance with charity law, the Terms of Reference of the relevant committee or sub-committee, and the City of Corporation’s agreed corporate governance framework as noted above, backed up by its standards regime.

As part of the City of London Corporation’s restructure, the Open Spaces Department has merged with Planning & Transportation and Port Health & Environmental Services to form a new Environment Department, and West Wickham Common and Spring Park Wood Coulsdon and other Commons became part of the Environment Department from 1 April 2022.

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West Wickham and Coulsdon | Annual Report and Financial Statements 2022/23

INDUCTION AND TRAINING OF MEMBERS

The City Corporation makes available to its Members, seminars and briefings on various aspects of its activities, including those concerning the charities, to enable Members to carry out their duties efficiently and effectively. Induction meetings are provided on specific aspects of the work of West Wickham Common and Spring Park Wood Coulsdon and other Commons. If suitable seminars or other training options are identified that are relevant to the charities, Members are advised of these opportunities.

OBJECTIVES AND ACTIVITIES

The objectives of the charities are the preservation and maintenance of West Wickham Common and Spring Park Wood Coulsdon, as Open Spaces for the recreation and enjoyment of the public.

Purposes of the charity as set out in the governing document, the Corporation of London (Open Spaces) Act 1878 and the Open Spaces Act 2018:

Main activities undertaken in relation to these purposes:

West Wickham and Spring Park Wood and Coulsdon and other Commons natural and cultural heritage are of national importance, the legacy of centuries of interaction between people and the environment. As we progress through the 2020’s and beyond the challenge of protecting this valuable resource will increase as pressures from environmental and human factors mount.

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West Wickham and Coulsdon | Annual Report and Financial Statements 2022/23

Aims of the charity

The West Wickham and Spring Park Wood and Coulsdon and other Commons Management Plans describe the strategy for achieving these aims.

Volunteers

Group volunteering returned to normal activities following the disruptions of 2020/21 and 2021/22. Individual volunteering for activities such as litter picking and livestock checking continued and increased with all six commons receiving requests from locals wanting to help out in some way. There was a marked increase in younger people wanting to get involved, notably through the Duke of Edinburgh Award Scheme. We also saw an increase in corporate volunteering across all six sites.

Volunteer numbers have increased from 546 in 2021/22 to 991 in 2022/23 and the total number of hours they contributed also increased, from 2,310 to 3,159 in the same period.

Remuneration Policy

The charities senior staff are employees of the City Corporation and, alongside all staff, pay is reviewed annually. The City Corporation is committed to attracting, recruiting and retaining skilled people and rewarding employees fairly for their contribution. As part of this commitment, staff are regularly appraised and, subject to performance, eligible for the payment of recognition awards.

The above policy applies to staff within the charities key management personnel, as defined within note 7 to the financial statements.

The charity is committed to equal opportunities for all employees. An Equality and Inclusion Board has been established to actively promote equality, diversity inclusion in service delivery and employment practices. The Board is responsible for monitoring the delivery of the Equality and Inclusion Action Plan and progress against the Equality Objectives. This also includes addressing the City Corporation’s gender, ethnicity and disability pay gaps.

The Equality, Diversity, and Inclusion (EDI) sub-committee is currently overseeing the update of our four-yearly Equality Objectives in accordance with the Equality Act 2010. The draft objectives were reviewed by Policy and Resources and Corporate

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Services Committees in April 2023. Following committee approval, a period of 12 weeks consultation with stakeholders will be undertaken and then analysis of consultation responses and amendments made in August 2023. Amendments will then go to September’s EDI Sub-Committee and Policy and Resources and Corporate Services Committees and then to Court of Common Council for approval in October 2023.

Senior staff posts of the City Corporation are individually evaluated and assessed independently against the external market allowing each post to be allocated an individual salary range within the relevant grade, which incorporates market factors as well as corporate importance.

Fundraising

Section 162a of the Charities Act 2011 requires charities to make a statement regarding fundraising activities. The legislation defines fundraising as “soliciting or otherwise procuring money or other property for charitable purposes”. Although West Wickham Common and Spring Park Wood Coulsdon and other Commons charities does not undertake widespread fundraising from the general public, any such amounts receivable are presented in the financial statements as “voluntary income” including grants.

In relation to the above we confirm that all solicitations are managed internally, without involvement of commercial participators or professional fund-raisers, or third parties. The day-to-day management of all income generation is delegated to the executive team, who are accountable to the trustee. The charities are not bound by any regulatory scheme and does not consider it necessary to comply with any voluntary code of practice.

There is a donations page on the Farthing Downs webpage, inviting and enabling the public to make on-line donations to the Farthing Downs Interpretation Improvements campaign.

The charity has received no complaints in relation to fundraising activities in 2022/23 (2021/22: nil). Individuals are not approached for funds, hence the charities do not consider it necessary to design specific procedures to monitor such activities.

Public benefit statement

The Trustee confirms that it has referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing West Wickham Common and Spring Park Wood Coulsdon and other Commons aims and objectives and in planning future activities. The purposes of the charities are the preservation in perpetuity of West Wickham Common and Spring Park Wood Coulsdon and other Commons as an open space for the recreation and enjoyment of the public.

Consequently, the Trustee considers that West Wickham Common and Spring Park Wood Coulsdon and other Commons operates to benefit the general public and satisfies the public benefit test.

REFERENCE AND ADMINISTRATIVE DETAILS

The administrative details of the charities are stated on page 32.

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ACHIEVEMENTS AND PERFORMANCE

West Wickham and Coulsdon Commons teams were still dealing with some of the disruptions arising from the previous Covid-19 period in early 2022 but by early spring the team were back to operating at full capacity, ensuring that the sites remained open and accessible. We were pleased to see our volunteer numbers and activities return to and surpass previous levels.

West Wickham and Coulsdon Commons’ 2022/23 aims together with their outcomes were:

Staff - Following the completion of the corporate restructure phase 2 and agreement of the new staff structure permission was given to recruit to our vacant post in 2023.

Countryside Stewardship – Established an evidence-based monitor and review system to record the habitat management work across our sites using mapping and photography.

Countryside Management:

Grassland – continued with the work programme designed for the maintenance of species-rich chalk grassland habitats through grazing and hay-cutting that satisfies prescription from Natural England and enhances and enriches biodiversity across all sites.

Scrub – controlled scrub to create and maintain open downland landscape focusing on chemical-free “tree-popping”. This facilitates larger grazing areas and enhances the mosaic of grassland habitats across the sites.

Woodland – Completed tree safety management. Coppiced sweet chestnut compartment at Spring Park as part of the 16-year rotation. Undertook essential ash dieback clearance on Kenley Common and New Hill.

Events - Restarted our programme of walks, talks and guided events which were cancelled during the Covid-19 pandemic. We achieved 21 educational walks/talks as well as 13 other events that were attended by 757 people.

Volunteers - lifted restrictions on volunteering across the 6 sites within the charities.

Trial of the Nofence ® (virtual fencing) – Trial of technology completed and will become part of our standard operation for the use of cattle to manage our sites.

Budget management - Achieved financial savings as required through a combination of reducing expenditure and appropriate income generation activities. The café concession trial planned for Riddlesdown did not happen due to the operator withdrawing.

Corporate Restructure - Supported the development of the City of London Corporation’s new corporate restructure Phase 2.

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West Wickham and Coulsdon | Annual Report and Financial Statements 2022/23

PLANS FOR FUTURE PERIODS

Key projects for 2023/24 include:

Staff - Recruit to our vacant conservation ranger post to strengthen our biodiversity monitoring and stewardship across all the charities sites.

Countryside Stewardship – Continue to deliver agreed programme of nature conservation works across the charities to enhance the quality of the sites and develop our evidence-based monitor and review system to record habitat changes. As part of our funded Capital Works programme continue hedge laying at Spring Park and Farthing Downs

Grassland – Continue with the work programme designed for the maintenance of species-rich chalk grassland habitats through grazing and hay-cutting that satisfies prescription from Natural England and enhances and enriches biodiversity across all sites.

Scrub – Continue controlling scrub to create and maintain open downland landscapes focusing on Farthing Downs, Riddlesdown and Kenley Common

Woodland – Undertake all tree safety works identified in the 2022 surveys. Coppice sweet chestnut compartment at spring park as part of the 16-year rotation. Undertake further remedial ash dieback work on Kenley Common and New Hill.

Events – Continue with the development and delivery of a programme of walks, talks and guided events across both charities.

Volunteers – Continue to provide and develop further opportunities for volunteering across the 6 sites within the charities.

Budget management - Achieve financial savings as required through a combination of reducing expenditure and appropriate income generation activities.

The Trustee does not consider there to be any material uncertainty around going concern and further detail regarding this is set out on page 19.

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FINANCIAL REVIEW

Overview of Financial Performance

Income

In 2022/23 the charity’s total income for the year was £1,408,599 an overall increase of £123,079 against the previous year (£1,285,520). The principal source of income was from City of London Corporation’s City’s Cash fund (see below).

Income from Charitable Activities comprised £40,975 from fees charged (2021/22: £58,322), £66,344 from rents (2021/22: £43,568) and £19,924 from sales (2021/22: £14,776). 2022/23 saw increased sales of livestock as well as increased income generated from rents. The decline in fees and charges income is attributable to reduced income from car parking charges.

In total grant income of £23,411 was received in the year, towards programmes administered by the charities (2021/22: £116,951). The main reason for the reduction in income was that 2021/22 was the final year of the Heritage Lottery Fund grant (£80,266) towards the Kenley Revival project. No such income was received in 2022/23.

Donations – included contributions towards corporate volunteering events and for free events such as guided walks, as well as amounts donated by the public at walks and talks advertised via Eventbrite. In total £8,544 was received during the year (2021/22: £3,456). Donations can be made on the Farthing Downs webpage to the Farthing Downs Interpretation Improvements project. In total £130 was received during the year (2021/22: £2,394). The full amount was held as at 31 March 2023 in a restricted fund for ‘Campaign Donations’.

An amount of £1,249,271 (2021/22: £1,046,052) was received from the City of London Corporation’s City’s Cash as a contribution towards the running costs of the charities.

Expenditure

Total expenditure for the year relating to charitable activities expenditure was £1,406,870 (2021/22: £1,126,927). The increase in expenditure is owing to a higher number of cyclical building works taking place during the year.

Funds held

The charity’s total funds held increased by £1,729 to £576,605 as at 31 March 2023 (2021/22: increased by £158,593 to £574,876).

A restricted fund of £2,524 (2021/22: £2,394) was held at year-end. This relates to Campaign Donations for the Farthing Downs Interpretation Improvements project.

The charity’s designated funds consist of unrestricted income funds which the Trustee has chosen to set aside for specific purposes. Such designations are not legally

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West Wickham and Coulsdon | Annual Report and Financial Statements 2022/23

binding, and the Trustee can decide to “undesignated” these funds at any time. Designations as at 31 March 2023 totalled £570,809 (2021/22: £571,742). The decrease in designated funds relates to depreciation charges having been incurred relating to tangible fixed assets.

A general fund of £3,272 (2021/22: £740) relates to surplus unrestricted donation income available for spending on the charity’s purposes.

Details of all funds held, including their purposes, is set out within note 14 to the financial statements.

Reserves

The charities are wholly supported by the City of London Corporation which is committed to maintain and preserve West Wickham Common and Spring Park Wood Coulsdon and other Commons out of its City’s Cash Funds. These Funds are used to meet the deficit on running expenses on a year by year basis. Consequently, these charities only have minimal free reserves relating to unrestricted donations received but do not require specific reserves as minimum working capital and a reserves policy is considered by the trustee to be inappropriate.

Donations are now being sought and these may be carried forward, but there is currently no intention to hold them as a minimum amount owing to the deficit funded status of the Charity.

Principal Risks and Uncertainties

The Trustee is committed to a programme of risk management as an element of its strategy to preserve the charities assets. In order to embed sound practice the senior leadership team ensures that risk management policies are applied, that there is an ongoing review of activity and that appropriate advice and support is provided. A key risk register has been prepared for the charities, which has been reviewed by the Trustee. This identifies the potential impact of key risks and the measures which are in place to mitigate such risks.

The principal risks faced by the charities, and actions taken to manage them are as follows:

Risk Actions to manage risks
Maintenance of
buildings and other
structures		 Monthly site infrastructure checks.
Damage to sites Recruit to the vacant Conservation Ranger post.
Local Planning Issues Recruit to the vacant Conservation Ranger post.
Seek advice and support from colleagues in the Planning
and Development Division.
Tree Diseases and
other Pests		 Ensure staff training is kept updated to enable timely
identification of pest and knowledge of correct treatment/
prevention.
Annual tree inspections undertaken through qualified
personnel.
Active involvement with leading partners such as Forestry
Commission and Natural England.
Measures in place for staff, volunteers and contractors
including public messages.

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West Wickham and Coulsdon | Annual Report and Financial Statements 2022/23

Risk Actions to manage risks

Review The Commons'Tree Safety Policy tri-annually.
Pollution Attend meetings of the local Flood Action Group.
Liaise with City Solicitors regarding liabilities.
Budget reduction and
income loss
Keep risk under regular review.
Climate and Weather Review and update plan bi-annually.
Fire management and monitoring policies and plans in place
and link to staff training and local emergency services.
Storm monitoring & management policies across all sites
linked to high staff awareness and training.
Understanding of the potential impacts of climate change on
the open spaces.
Engagement in climate change research and debate.
Industrial action by
emergency services		 Implement appropriate controls within the Fire Management
Plan and The Commons Days on which industrial action
takes place are classed as ‘high risk’ days and ‘The
Commons Habitat Fire Action Plan’ will be enacted
accordingly (e.g., extra patrols; suspension of any work
where fire is a component).
Maps within the ‘Major Emergency Plan’ will help in a slow
response/unfamiliar fire crew/army reserves scenario.
Proactive work to manage firebreaks and residential
boundaries to increase the resilience of Coulsdon Common
(and other Commons) to wildfire will also help in a slow/no
response scenario.
A water bowser is available on site for use by staff to damp
down peat after a fire (not for firefighting).
Staff are conversant with the content of the CoL’s ‘Industrial
Action Contingency Advice’ document as it applies to their
site. This includes ensuring the safety of livestock.
High-risk activities such as tree-climbing would be paused or
have additional controls applied should the emergency
services be unavailable.
All planned events are risk-assessed to ensure appropriate
controls are in place to address fire, health and safety, and
other risks. If it is considered that it would be unsafe to
proceed with an event in the absence of external emergency
service availability, a decision would be taken to modify,
postpone or cancel as appropriate.

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TRUSTEE’S RESPONSIBILITIES

The Trustee is responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Charity law requires the Trustee to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under charity law the Trustee must not approve the financial statements unless the Trustee is satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing these financial statements, the Trustee is required to:

The Trustee is responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable the Trustee to ensure that the financial statements comply with the Charities Act 2011. The Trustee is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustee is aware:

Financial statements are published on the Trustee’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements, which may vary from legislation in other jurisdictions. The maintenance and integrity of the Trustee’s website is the responsibility of the Trustee. The Trustee’s responsibility also extends to the ongoing integrity of the financial statements contained therein.

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Adopted and signed for on behalf of the Trustee.

Henry Nicholas Almroth Colthurst, Deputy

Randall Keith Anderson, Deputy

Chairman of Finance Committee of The City of London Corporation, Guildhall, London

Deputy Chairman of Finance Committee of The City of London Corporation, Guildhall, London

31[st] January 2024

31[st] January 2024

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West Wickham and Coulsdon | Annual Report and Financial Statements 2022/23

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEE OF WEST WICKHAM COMMON AND SPRING PARK WOOD COULSDON AND OTHER COMMONS

Opinion

We have audited the financial statements of West Wickham Common and Spring Park Wood Coulsdon and Other Commons (‘the charity’) for the year ended 31 March 2023 which comprise the statement of financial activities, the balance sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 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 Trustee's 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 financial statements are authorised for issue.

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

Other information

The Trustee are responsible for the other information contained within the annual report. The other information comprises the information included in the annual 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.

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 this gives rise to a material misstatement in the financial statements themselves. 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

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Responsibilities of Trustee

As explained more fully in the Trustee’s responsibilities statement set out on page 12 and 13, the Trustee 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 Trustee 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 Trustee 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 Trustee 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

We have been appointed as auditor under section 144 of the Charities Act 2011, and report in accordance with the Acts and relevant regulations made or having effect thereunder.

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.

Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below.

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

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.

We obtained an understanding of the legal and regulatory frameworks within which the Charity operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Charities Act 2011 together with the Charities SORP (FRS102) 2019. We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the Charity’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charity for fraud. The laws and regulations we considered in this context for the UK operations were General Data Protection Regulation (GDPR), Anti-fraud, bribery and corruption legislation, Health and safety legislation, and Employment legislation.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustee and other management and inspection of regulatory and legal correspondence, if any.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the timing of recognition of income, and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management, internal audit, legal counsel and the Audit & Risk Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission,

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and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of nondetection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing noncompliance and cannot be expected to detect non-compliance with all laws and regulations.

Use of our report

This report is made solely to the charity’s Trustee, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s Trustee 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 Trustee as a body, for our audit work, for this report, or for the opinions we have formed.

Vincent Marke, FCA

Crowe U.K LLP, 55 Ludgate Hill, London, EC4M 7JW

19.02.2024

Crowe U.K. LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

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West Wickham and Coulsdon | Annual Report and Financial Statements 2022/23

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted Restricted Unrestricted
Funds Funds Funds
Total Funds
Notes 2022/23 2022/23 2022/23 2021/22
£ £ £ £
Income from:
Voluntary activities 2 31,955 130 32,085 122,802
Charitable activities 3 127,243 - 127,243 116,666
GrantfromCity of LondonCorporation 4 1,249,271 - 1,249,271 1,046,052
Total income 1,408,469 130 1,408,599 1,285,520
Expenditure on:
Charitable activities:
Preservation and operation of West Wickham Common and
SpringPark Wood 5 1,406,870 - 1,406,870 1,126,927
Total expenditure 1,406,870 - 1,406,870 1,126,927
Net income/(expenditure) 1,599 130 1,729 158,593
Transfers between funds - - - -
Net movement in funds 1,599 130 1,729 158,593
Reconciliation of funds:
Total funds brought forward 14 572,482 2,394 574,876 416,283
Total funds carried forward 14 574,081 2,524 576,605 574,876

All of the above results are derived from continuing activities.

There were no other recognised gains and losses other than those shown above.

The notes on pages 19 to 31 form part of these financial statements.

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West Wickham and Coulsdon | Annual Report and Financial Statements 2022/23

BALANCE SHEET

AS AT 31 MARCH 2023

AS AT 31 MARCH 2023
Notes 2023 2022
Total Total
£ £
Fixed assets:
Heritage assets 8 575,365 575,365
Tangible assets 9 5,024 5,957
Intangible assets 10 420 420
Total fixed assets 580,809 581,742
Current assets
Debtors 11 33,836 12,240
Cashat bankandin hand 149,091 52,151
Total current assets 182,927 64,391
Current liabilities
Creditors: Amountsfalling duewithinone year 12 (187,131) (71,257)
Net current (liabilities)/assets (4,204) (6,866)
Total assets less current liabilities 576,605 574,876
The funds of the charity:
Restricted income funds 14 2,524 2,394
Unrestrictedincomefunds 14 574,081 572,482
Total funds 576,605 574,876

The notes on pages 19 to 31 form part of these financial statements

Approved and signed on behalf of the Trustee.

Caroline Al-Beyerty

Chamberlain of London and Chief Financial Officer 31[st] January 2024

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West Wickham and Coulsdon | Annual Report and Financial Statements 2022/23

NOTES TO THE FINANCIAL STATEMENTS

1. ACCOUNTING POLICIES

The following accounting policies have been applied consistently in dealing with items that are considered material in relation to the financial statements of the charities.

(a) Basis of preparation

The financial statements of the charities, which is a public benefit entity under FRS102, have been prepared under the historical cost convention as modified by the valuation of investments which are held at fair value and in accordance with the Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (second edition effective 1 January 2019) and the Charities Act 2011.

(b) Going concern

The financial statements have been prepared on a going concern basis as the Trustee considers that there are no material uncertainties about the charities ability to continue as a going concern. The governing documents place an obligation on the City of London Corporation to preserve the open spaces for the benefit of the public. Funding is provided from the City of London Corporation’s City’s Cash. On an annual basis, a medium-term financial forecast is prepared for City’s Cash covering the next 5 years from the period covered by these financial statements. The latest forecast anticipates that adequate funds will be available in the next 12 months from the date of these financial statements being signed to enable the charities to continue to fulfil its obligations.

In making this assessment, the Trustee has considered the potential ongoing impact of current high inflationary pressures on the financial position, including future income levels and planned expenditure and the liquidity of the charity over the next 12-month period. For this reason, the Trustee continues to adopt a going concern basis for the preparation of the financial statements.

(c) Key management judgements and assumptions

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenditure. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the result of which form the basis of decisions about carrying values of assets and liabilities that are not readily apparent from other sources. The resulting accounting estimates will, by definition, seldom equal the related actual results.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised and in any future periods affected. Management do not consider there to be any material revisions requiring disclosure.

In preparing the financial statements, management has made the following key judgements: useful economic life of fixed assets.

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West Wickham and Coulsdon | Annual Report and Financial Statements 2022/23

(d) Statement of Cash Flows

The Trust has taken advantage of the exemption in FRS102 (paragraph 1.12b) from the requirement to produce a statement of cash flows on the grounds that it is a qualifying entity. A Statement of Cash Flows is included within the City’s Cash Annual Report and Financial Statements 2022 which is publicly available at www.cityoflondon.gov.uk.

(e) Income

All income is included in the Statements of Financial Activities (SOFA) when the charities are legally entitled to the income; it is more likely than not that economic benefit associated with the transaction will come to the charities and the amount can be quantified with reasonable certainty. Income consists of donations, charges for use of facilities, contributions, grants, sales and rental income.

The City of London Corporation’s City’s Cash meets the deficit on running expenses of the charities and also provides funding for certain capital works. This income is considered due each year end once the deficit on running expenses and capital works funding has been confirmed, and is recognised in the SOFA at this point.

(f) Expenditure

Expenditure is accounted for on an accruals basis and has been classified under the principal categories of ‘expenditure on raising funds’ and ‘expenditure on charitable activities’. Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charities to that expenditure, it is probable that settlement will be required, and the amount of the obligation can be measured reliably.

Governance costs include the costs of governance arrangements which relate to the general running of the charities as opposed to the direct management of functions inherent in the activities undertaken. These include the costs associated with constitutional and statutory requirements such as the cost of Trustee meetings.

Support costs (including governance costs) include activities undertaken by the City Corporation on behalf of the charities, such as human resources, digital services, legal support, accounting services, committee administration, public relations and premises costs. These costs are recharged and the basis of the cost allocation is set out in note 7.

The Trustee, the City Corporation, accounts centrally for all payroll related deductions. As a result, the charities account for all such sums due as having been paid.

(g) Pension costs

Staff are employed by the City of London Corporation and are eligible to contribute to the City of London Local Government Pension Fund, which is a funded defined benefit scheme. The estimated net deficit on the Fund is the responsibility of the City of London

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West Wickham and Coulsdon | Annual Report and Financial Statements 2022/23

Corporation as a whole, as one employer, rather than the specific responsibility of any of its three main funds (City Fund, City’s Cash and Bridge House Estates) or the trusts it supports.

The Fund’s estimated net liability has been determined by independent actuaries in accordance with FRS102 as £142.6m as at 31 March 2023 (£832.7m as at 31 March 2022). Since any net deficit is apportioned between the financial statements of the City of London’s three main funds, the charity’s Trustee does not anticipate that any of the liability will fall on the charity. The charity is unable to identify its share of the pension scheme assets and liabilities and therefore the Pension Fund is accounted for as a defined contribution scheme in these financial statements.

Barnett Waddingham, an independent actuary, carried out the latest triennial actuarial assessment of the scheme as at 31 March 2022, using the projected unit method. The 31 March 2022 valuation was carried out in 2022/23 and has set the contribution rates for the period 01 April 2023 to 31 March 2026 at 21%. Contribution rates adopted for the financial years 2020/21, 2021/22 and 2022/23 had been set at 21%.

(h) Taxation

The charities meets the definition of a charitable trust for UK income tax purposes, as set out in Paragraph 1 Schedule 6 of the Finance Act 2010. Accordingly, the charities are exempt from UK taxation in respect of income or capital gains under part 10 of the Income Tax Act 2007 or section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

(i) Fixed Assets

Heritage Land and Associated Buildings

West Wickham Common and Spring Park Wood Coulsdon and other Commons comprises 277 hectares (685 acres) of land located in the London Boroughs of Bromley and Croydon, together with associated buildings. The objects of the charities are the preservation of West Wickham Common and Spring Park Wood Coulsdon and other Commons in perpetuity as an Open Space for the recreation and enjoyment of the public. West Wickham Common and Spring Park Wood Coulsdon and other Commons is considered to be inalienable (i.e. they may not be disposed of without specific statutory powers).

Land and the original associated buildings are considered to be heritage assets. In respect of the original land and buildings, cost or valuation amounts are not included in these financial statements as reliable cost information is not available and a significant cost would be involved in the reconstruction of past accounting records, or in the valuation, which would be onerous compared to the benefit to the users of these accounts. Heritage assets are reviewed annually for impairment.

Additions to the original land and capital expenditure on buildings and other assets are included as fixed assets at historic cost, less provision for depreciation and any impairment, where this cost can be reliably measured.

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West Wickham and Coulsdon | Annual Report and Financial Statements 2022/23

Tangible fixed assets

Assets that are capable of being used for more than one year and have a cost greater than £50,000 are capitalised. Such assets are stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation is charged from the year of acquisition, on a straight-line basis, in order to write off each asset over its estimated useful life as follows. Land is not depreciated.

Years Infrastructure up to 20 Heavy vehicles and plant 5

Intangible fixed assets

Intangible assets comprise website design relating to the Kenley Revival project which are capitalised at cost and reflected within the financial statements at amortised historic cost.

Amortisation is calculated by allocation of the balance sheet value of the asset, less any residual value, to the periods expected to benefit from its use on a straight-line basis over 3 to 7 years. Amortisation charges are charged to the SOFA.

(j) Stocks

Stocks are valued at the lower of cost or net realisable value. All stocks are finished goods and are held for resale as part of the charities operations.

(k) Cash

Cash and cash equivalents include cash in hand, overdrafts (if any) and short term deposits and other instruments held as part of the Corporation’s treasury management activities with original maturities of three months or less.

(l) Funds structure

Income, expenditure and gains/losses are allocated to particular funds according to their purpose:

Restricted funds – These include income that is subject to specific restrictions imposed by donors, with related expenditure deducted when incurred.

Unrestricted income funds – these funds can be used in accordance with the charitable objects at the discretion of the Trustee and include both income generated by assets held representing unrestricted funds. Specifically, this represents any surplus of income over expenditure for the charities which is carried forward to meet the requirements of future years, known as free reserves.

Designated funds – these are funds set aside by the Trustee out of unrestricted funds for a specific purpose.

(m) Insurance

The charity, elected Members and staff supporting the charity’s administration are covered by the City Corporation’s insurance liability policies, and otherwise under the indemnity the City Corporation provides to Members and staff, funded from City’s Cash.

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West Wickham and Coulsdon | Annual Report and Financial Statements 2022/23

2. INCOME FROM VOLUNTARY ACTIVITIES

----- Start of picture text -----
Unrestricted Restricted Total Unrestricted
income funds income funds 2022/23 income funds
2021/22
£ £ £ £
Grants 23,411 - 23,411 116,951
Donations and legacies 8,544 130 8,674 5,851
Total 31,955 130 32,085 122,802
----- End of picture text -----

3. INCOME FROM CHARITABLE ACTIVITIES

Unrestricted Unrestricted
income funds income funds
2022/23 2021/22
£ £
Charges for use of facilities 40,975 58,322
Sales 19,924 14,776
Rental income 66,344 43,568
Total 127,243 116,666

4. INCOME FROM THE CITY OF LONDON CORPORATION

Unrestricted
income funds
2022/23
£		 Unrestricted
income funds
2021/22
£
1,046,052
Revenue and capital grants from City of London Corporation 1,249,271

Income for the year included:

Grants – being amounts received from organisations towards programmes operated by the charity. Grant income includes a government grant received from the Countryside Stewardship Scheme (CSS) which provides funding to farmers and land managers to farm in a way that supports biodiversity, enhances the landscape, and improves the quality of water, air and soil. There are no unfulfilled conditions or other contingencies relating to this grant income and no other forms of government assistance have been received in the year.

Donations – being amounts received from the public for walks and talks advertised via Eventbrite. Donations can be made on the Farthing Downs webpage, to the Farthing Downs Interpretation Improvements project.

Contributions – being amounts contributed towards corporate volunteering events and by the public towards free events such as guided walks.

Charitable activities – being amounts generated from the sales of livestock and woodland products such as timber and charcoal; from charges made for the use of facilities, such as for car parking, for filming on City Commons and from rental of catering facilities, licence fees and wayleave licences.

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West Wickham and Coulsdon | Annual Report and Financial Statements 2022/23

Grants from the City of London Corporation – being the amount received from the City of London Corporation’s City’s Cash to meet the deficit on running expenses of the charities, alongside funding for capital purchases.

5. EXPENDITURE

----- Start of picture text -----
Expenditure on charitable activities
Direct Support Total Direct Support Total
costs costs 2022/23 costs costs 2021/22
£ £ £ £ £ £
Preservation and operation of West Wickham
Common and Spring Park Wood 1,165,769 241,101 1,406,870 945,897 181,030 1,126,927
----- End of picture text -----

Charitable activity

Expenditure on the charitable activities includes labour, premises costs, equipment, materials and other supplies and services incurred in the running of West Wickham Common and Spring Park Wood Coulsdon and other Commons.

Auditor’s remuneration and fees for other services

Crowe U.K. LLP are the auditors of the City of London’s City’s Cash Fund and provide assurance services to all of the different charities of which it is Trustee. The City of London Corporation charges the audit fee to its City’s Cash Fund. In 2022/23 an audit fee of £5,500 was recharged (2021/22: £5,000). No other services were provided to the charity by its auditors during the year (2021/22: £nil).

6. SUPPORT COSTS

Support costs include activities undertaken by the City of London Corporation on behalf of the charities, such as human resources, digital services, legal support, accounting services, committee administration and premises costs. Such costs are determined on a departmental basis, and are allocated on a cost recovery basis to the charities based on time spent, with associated office accommodation charged proportionately to the space occupied by the respective activities, with the split of costs as follows:

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West Wickham and Coulsdon | Annual Report and Financial Statements 2022/23

Charitable
activities Governance 2022/23 2021/22
£ £ £ £
Department:
Chamberlain 39,239 - 39,239 37,332
Comptroller & City Solicitor 6,240 - 6,240 6,684
Town Clerk - 30,774 30,774 21,146
City Surveyor 31,067 - 31,067 31,315
Natural Environment directorate 92,882 - 92,882 40,842
Other governance & support costs 10,244 5,500 15,744 14,493
DigitalServices 25,155 - 25,155 29,218
Sub-total 204,827 36,274 241,101 181,030
Reallocation of governance costs 36,274 (36,274) - -
Totalsupport costs 241,101 - 241,101 181,030

All support costs are undertaken from unrestricted funds. Governance costs are allocated based on a proportion of officer time spent on the administration of Trustee and Committee related meetings.

7. DETAILS OF STAFF COSTS

All staff that work on behalf of the charities are employed by the City Corporation. The average number of people directly undertaking activities on behalf of the charities during the year was 14 (2021/22: 13).

Amounts paid in respect of employees directly undertaking activities on behalf of the charities were as follows:

2022/23 2021/22
£ £
Salaries and wages 396,903 373,470
National Insurance costs 41,816 37,659
Employer'spension contributions 90,248 89,351
Total emoluments of employees 528,967 500,480

The number of directly charged employees whose emoluments (excluding employer’s NI and pension contribution) for the year were over £60,000 was £nil (2021/22: £nil).

Remuneration of Key Management Personnel

The charities considers its key management personnel to comprise the Members of the City of London Corporation, acting collectively for the City Corporation in its capacity as the Trustee, and the Director of Natural Environment who manages the seven open spaces funded by the City of London Corporation. A proportion of the Directors’ employment benefits are allocated to these charities.

Support is also provided by other chief officers and their departments from across the City of London Corporation, including the Town Clerk and Chief Executive, Chamberlain, Comptroller and City Solicitor and City Surveyor.

The amount of employee benefits received by key management personnel totalled £15,113 (2021/22: £7,315). No members received any remuneration for acting on

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West Wickham and Coulsdon | Annual Report and Financial Statements 2022/23

behalf of the Trustee, with directly incurred expenses reimbursed, if claimed. Expenses totalling £nil were claimed in 2022/23 (2021/22: £nil).

8. HERITAGE ASSETS

Heritage assets represent the historic cost of restoring the blast pens on Kenley airfield.

2019 2020 2021 2022 2023
£ £ £ £ £
Cost
At 1 April 418,248 462,673 463,341 409,394 575,365
Additions 44,425 668 89,053 165,971 -
Transfers - - - - -
**At 31 March ** 462,673 463,341 552,394 575,365 575,365
Depreciation
At 1 April - - - - -
Impairment - - 143,000 - -
**At 31 March ** - - 143,000 - -
Net book value
At 31 March 2023 462,673 463,341 409,394 575,365 575,365
At 31 March 2022 418,248 462,673 463,341 409,394 575,365

Since 1892 the primary purpose of the charities has been the preservation of West Wickham Common and Spring Park Wood Coulsdon and other Commons for the recreation and enjoyment of the public. As set out in note 1(i), the original heritage land and buildings are not recognised in the Financial Statements. Policies for the preservation and management of West Wickham Common and Spring Park Wood Coulsdon and other Commons are contained in the West Wickham Common and Spring Park Wood Coulsdon and other Commons Conservation Plans. Records of heritage assets owned and maintained by West Wickham Common and Spring Park Wood Coulsdon and other Commons can be obtained from the Executive Director Environment at the principal address as stated on page 32.

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West Wickham and Coulsdon | Annual Report and Financial Statements 2022/23

9. TANGIBLE FIXED ASSETS

Infrastructure Plant Total
£ £ £
Cost
At 1 April 2022 730 8,955 9,685
At 31 March 2023 730 8,955 9,685
Depreciation
At 1 April 2022 146 3,582 3,728
Charge for the year 37 896 933
At 31 March 2023 183 4,478 4,661
Net book value
At 31 March 2023		 547 4,477 5,024
At 31 March 2022 584 5,373 5,957

10. INTANGIBLE FIXED ASSETS

Website
development
£
Cost
At 1 April 2022 29,120
Additions -
At 31 March 2023 29,120
Depreciation
At 1 April 2022 28,700
Charge for the year -
At 31 March 2023 28,700
Net book value
At 31 March 2023 420
At 31 March 2022 420

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West Wickham and Coulsdon | Annual Report and Financial Statements 2022/23

11. DEBTORS – AMOUNTS DUE WITHIN ONE YEAR

2023 2022
£ £
Rental debtors 607 514
Recoverable VAT 28,213 7,099
Otherdebtors 5,016 4,627
Total 33,836 12,240

Other debtors consist of amounts owed by non-property related customers of £5,016 (2021/22: £4,627).

12. CREDITORS – AMOUNTS DUE WITHIN ONE YEAR

2023 2022
£ £
Trade creditors 23,151 16,238
Accruals 52,115 9,836
Deferred income 13,378 9,208
Sundry deposits 31,735 31,164
Othercreditors 66,752 4,811
Total 187,131 71,257

Other creditors consist of sundry creditors. Deferred income relates to rental income received in advance for periods after the year-end.

2023 2022
Deferred income analysis within creditors: £ £
Balance at 1 April 9,208 9,293
Amounts released to income (9,208) (9,293)
Amounts deferred in theyear 13,378 9,208
Balance at 31 March 13,378 9,208

13. ANALYSIS OF NET ASSETS BY FUND

At 31 March 2023 Unrestricted income funds Unrestricted income funds Restricted
General Designated funds Total at 31 Total at 31
funds funds March 2023 March 2022
£ £ £ £ £
Heritage assets - 575,365 - 575,365 575,365
Tangible assets - 5,024 - 5,024 5,957
Intangible assets - 420 - 420 420
Current assets 190,405 (10,002) 2,524 182,927 64,391
Current liabilities (187,131) - - (187,131) (71,257)
Total 3,274 570,807 2,524 576,605 574,876

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West Wickham and Coulsdon | Annual Report and Financial Statements 2022/23

At 31 March 2022 Unrestricted income funds Unrestricted income funds Restricted
General Designated funds Total at 31 Total at 31
funds funds March 2022 March 2021
£ £ £ £ £
Heritage assets - 575,365 - 575,365 409,394
Tangible assets - 5,957 - 5,957 6,889
Intangible assets - 420 - 420 -
Current assets 71,997 (10,000) 2,394 64,391 165,127
Current liabilities (71,257) - - (71,257) (165,127)
Total 740 571,742 2,394 574,876 416,283

14. MOVEMENT IN FUNDS

Total as at
Total as at 1 31 March
At 31 March 2023 April 2022 Income Expenditure Transfers 2023
£ £ £ £ £
Restricted funds:
Campaign Donations 2,394 130 - - 2,524
Total restricted funds 2,394 130 - - 2,524
Unrestricted funds:
General funds 740 1,408,469 (1,405,937) - 3,272
Designated funds:
Capital reserve funds 571,742 - (933) - 570,809
Total funds 574,876 1,408,599 (1,406,870) - 576,605
Total as at
Total as at 1 31 March
At 31 March 2022 April 2021 Income Expenditure Transfers 2022
£ £ £ £ £
Restricted funds:
Kenley Revival Project - 80,266 - (80,266) -
Campaign Donations - 2,394 - - 2,394
- 82,660 - (80,266) 2,394
Unrestricted funds:
General funds - 1,125,535 (1,124,795) - 740
Designated funds:
Capital reserve funds 416,283 77,325 (2,132) 80,266 571,742
Total funds 416,283 1,285,520 (1,126,927) 0 574,876

The restricted fund for ‘Campaign Donations’ represents funds received from the public through donations. A donations page on the Farthing Downs webpage invites

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West Wickham and Coulsdon | Annual Report and Financial Statements 2022/23

and enables the public to make on-line donations to the Farthing Downs Interpretation Improvements project. In total £130 was received during the year (2021/22: £2,394).

Purposes of general funds

A general fund of £3,272 (2021/22: £740) relates to surplus unrestricted donation income received.

Purposes of designated funds

Designated funds have been set aside by the Trustee for the following purposes in relation to the Kenley Revival project:

The Kenley Revival project aims to conserve the historic airfield structures associated with Kenley Airfield during World War II and to promote the heritage resource to make it accessible to a wider range of people.

15. RELATED PARTY TRANSACTIONS

The City Corporation is the sole Trustee of these charities, as described on page 2. The City Corporation provides various services, the costs of which are recharged to the charities. This includes the provision of banking services, charging all transactions to the charities at cost and crediting or charging interest at a commercial rate. The cost of these services is included within expenditure, as set out in note 5.

The charity is consolidated within the accounts of City’s Cash, a fund of the City of London Corporation (the City Corporation, the Corporate Trustee of the charity), by virtue of the deemed control arising from the provision of the shortfall between the charity’s income and expenditure by City’s Cash, whose place of business is Guildhall, London EC2P 2EJ. The principal purpose of City’s Cash is to manage its investments in properties, stocks and shares to provide returns which allows the City Corporation to use the income for the provision of services that are of importance to the City and Greater London as well as nationally and internationally, and to maintain the asset base so that income will be available to fund services for the benefit of future generations. The financial statements of City’s Cash can be obtained from the address provided above.

The charities are required to disclose information on related party transactions with bodies or individuals that have the potential to control or influence the charities.

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West Wickham and Coulsdon | Annual Report and Financial Statements 2022/23

Members are required to disclose their interests, and these can be viewed online at www.cityoflondon.gov.uk.

Members and senior staff are requested to disclose all related party transactions, including instances where their close family has made such transactions.

Figures in brackets represent the amounts due at the balance sheet date. Other figures represent the value of the transactions during the year.

Related party Connected party 2022/23 2021/22 Detail of transaction £ £ The City of London The City of London Corporation's City's Corporation is the Trustee Cash meets the deficit on running City of London Corporation for the charity 1,249,271 1,046,052 expenses of the charity (nil) (nil) Administrative services provided for the 241,101 181,030 charity (nil) (nil)

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West Wickham and Coulsdon | Annual Report and Financial Statements 2022/23

REFERENCE AND ADMINISTRATION DETAILS

CHARITY NAMES: West Wickham Common and Spring Park Wood Coulsdon and other Commons

Registered charity numbers: 232988 and 232989

PRINCIPAL OFFICE OF THE CHARITIES & THE CITY CORPORATION:

Guildhall, London, EC2P 2EJ

TRUSTEE:

The Mayor and Commonalty & Citizens of the City of London

SENIOR MANAGEMENT:

Chief Executive

John Barradell OBE - The Town Clerk and Chief Executive of the City of London Corporation (resigned 31 December 2022)

Ian Thomas CBE – The Town Clerk and Chief Executive of the City of London Corporation (appointed 06 February 2023)

Treasurer

Caroline Al-Beyerty - The Chamberlain and Chief Financial Officer of the City of London Corporation

Solicitor

Michael Cogher - The Comptroller and City Solicitor of the City of London Corporation

Environment Department

Juliemma McLoughlin – Executive Director of Environment

Sally Agass – Interim Director of Natural Environment (resigned 31 March 2023)

AUDITORS:

Crowe U.K. LLP, 55 Ludgate Hill, London, EC4M 7JW

BANKERS:

Lloyds Bank Plc., P.O.Box 1000, BX1 1LT

Contact for The Chamberlain & Chief Financial Officer, to request copies of governance documents & of the Annual Report of City’s Cash: CHBOffice-BusinessSupport@cityoflondon.gov.uk

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