TCV Annual Report and Financial Statements 2023-24 The Conservation Volunteers The SHED Connecting people and green spaces Welcome to our annual report and accounts lor 202S-24. It has been a year of confident progression as we continue to align our activities to our strategic goal of working 'For pèople and green spaces.. a thriving network for everyone,, and we are d&lighted to highlight many exciting examples of the positive outcomes. which we enable for both the environment and for individuals. over the following pages of this report. privileged to have him endorse our work. In 2023-24, we are reporting a net expenditure of £317k. which included continued investment in income generation resource to support growth in TCV'S Un￿strICted income. A5 we arè operating in thé context of wider economic challenges and continued inflationary pressures, it has been a challenging year, but we have taken swift action to reduce overheads and have ensured that we remain within the boundaries of our Reserves Policy. The Trustees. and Directors. report on page10 adds further detail on this. TCV'S Board of Trustees has continued to focus on the strategic direction of the charity and In February 2024 we added the finance and HR expertise of Dermot Toberty to both the Board and our Audit and Risk Committee. Dermot joins us following a successful career in both finance roles and in setting up the largest HR Shared Service Centre in Europe. He also brings non-exeeutive expertisè from the public sector and from supporting a wide variety of local organisations. I would like to start with the uplifting news, In May 2024, that His Majesty King Charles111 had accepted our invitation to become the Royal Patron of The Conservation Volunteers. The King succeeds his late father, Prince Philip. Duke of Edinburgh as our patron. and we are proud and It is a critical time for naturè and many socio-economic arid g&opolitical crises are having an effect Dn the communities in which we work. We will continue to respond to this and now in our 65th year. we look forward to shaping the future of TCV through a broad transformation programme. including organisational redesign, reviewing our systems and processes, and developing a new five-yèar strategy for the second half of the decade. We welcomed Rebecca Kennelly MBE as our new Chief Executive in March 2024 and we are fortunate to have attracted a leader with such a strong mix of skills and experience, particularly in volunteering, to drive our charity forward. Rebecca joined TCV from The Duke of Edinburgh's Award (OofE), where she served as the Executive Director of UK Operations. Prior to that. she was the Director of Volunteering for the Royal Voluntary Service. where she was responsible for the delivery of NHS Volunteer Responders during the Covid-19 pandemic, and lor which she was awarded an MBE. Contents Introductions from the Chair and Chief Executive.................................. 2023-24 highlights calendar........ Who we are ............................................ Over the past 65 years, TCV'S staff and volunteers have transformed many thousands of urban and rural green spaces across the UK. creating wildlife habitats, protecting nature and restoring the natural environment. My thanks go to all the staff and volunteers who Continue to do this today and to thè partners, funders and donors who support us, allowing us to continue our ev&r more vital work. Our impact............................................... Casè studies........................................ Trustees, and Directors. report.... 10 Strategic Report...................................12 I would like to rèiterate my thanks tts Rebecca's predecessor, Darren York, who led the charity from a period of change in 2016 and navigaled it through the diff icult years of the Covid-19 pandemic. Darren left in August 2023 and l am grateful to our Operations Director for Scotland & Northern Ireland, Debbie Adams, who took on the role of acting CEO. Her strong and experienced leadership ensurèd stability and I would liké to express my thanks for the positive Impact she had during this period. Policies......................................................15 Structure, governance and management..........................................16 Trustees and advisors................ 18-20 Independent auditor's report to the Trustees of The Conservation Volunteers........................................21-23 Financial statements..................25-36 Schedules of restricted and conditional grants.........................37-41 Jon Towlèr. Chalr. Thè Consèr¥atlon Volunt••rs 2 TCV Annual Report and Financial Statements 2023-24 As my first annual report for The Conservation Volunteers, I would like to Start by acknowledging that it is a privilege to havè been appointed as CEO for such a wonderful, impactful charity, particularly as we celebrate our 65th y&ar connecting p&ople to green spaces for the benefit of both. I would like to acknowledge my I would like to add my thanks to predecessors, Acting CEO Debbie those of Jon to everyone who Adams and CEO Darren York for supports TCV to continue our vital their support ol TCV. During 2023- work. whether you're reading this 24, wè worked with 96.741 people to as an individual donor, community transform 1,354 grèen 5Daces through network member, partner. or 115,331 workdays and a further 59,594 funder. My thanks also go to every days of green space connections. 51ngle volunteer, staff member and trustee who dedicate5 their time to connecting people and green spaces. In these challenging times. where we are living in a period of enormous instability from the climate breakdown and biodiversity emergency through to the c05t of living crisis, we rècogn15e that all of these have significant impacts on people and communities. As always, the burden of instability impacts disproportionately on those who are the most vulnerable and have least choices in society. Many people and communities are feeling the impact of circumstances beyond their control and, with this in mind, it's clear that our activit1è5 have an important role to play in positively impacting on society. Thi5 Is niost poignant for nature and the green spaces we create. improv&, and maintain, as well as supporting the health and wellbeing of those people who join us and volunteer with us. You can read full insight5 on the progress we made towards our three strategic goals during 2023-24 on page 12. including our plans for the next year. l am especially pleased to highlight that in Goal I, we calculated the environmental outcomes from TCV'S activity and quantified thèse In terms of monetlsed impacts over 30 years at £128.5m. We also planted 778,430 trees this year towards our target of 5 million by 2025. In Goal 2. we grew our Community Network to 2.235 members and this year provided them with a new online library full of handbooks to support their local conservation efforts. Finally In Goal 3, we had a hugè Internal foeu5 on opening u conversations related to Equality, Diversity and Inclusion so that we can improve how we work with diverse groups of people. k-Ld /k-L l ( Rebecca Kennelly, CEO, The Conservatlon Volunteers As I have visited different teams across the country, I have been incredibly impressed by the knowledge and skills that our teams hold. I continuously feel myself inspired and humbled at the stori&s from our volunteers who share the impact of volunteering for them personally. They say how being involved with TCV has helped with employment opportunities. benefitted their mental and physical health, and connected them to others and their local community, as well as fulfilling a deep dèsirè to Drotect and restore nature and their local green spaces. Focusing on 2024-25. I look forward to leading the charity through the final year ol our current strategic period and to working with our people, partnèrs and stakeholders to create thè next 5-yéar Strategy, during which we aim to positively transform TCV. This programme of transformation aims to enhance our ambition for people. planet. nd nature. By reviewing our organisational design. infrastructure and support systems, we look forward to shaping the future of TCV to create a charity that is confident. with a strong brand, and sustainable so that we can invest for futurè success. TCV Annual Report and Financial Statements 2023-24 JULY commemorati￿ trèè planted with Th• Kln9 I We were honoure(I to be joined by King Charles 111. now TCV'S PBtron. to plant an apple tree in the orchard ot the historic Kinneil House and Estate In 80'ne55, near Falkirk. Thè celebration wa5 to commemorate the centenary of the Estate becoming a public park. transformed from a former colliery sil& Into a public open space of grassland. wildflower rneadow5 and woodland. The Friend5 of Kinneil, who are both a TCV Green Gyw ancl a TCV Community Network group, now look after the site to enhance its diverse nature and Èncourage all the local comrnunity to enjoy what It offer5. They also had the pleasure of meeting the King helping him to plant the co JoshThornhil TC APRIL TCV voluntèèrs talk to CountryfilÈ about Thè Big Hèlp Out The year began with an exciting start when TCV appeared on Countryfile as pèrl of a segment celèbrating volunteer organisations taking part in The Big Help Out. This initiative marked King Charles Ill's coronation and encouraged the nation to volunteer and to do something for their local community. TCV voluntÈÈrs in Clackmannanshire talked to Countryfile about what they had gained from volunteering In green spaces. Including new skills, a change of career. and supporting their ￿ental health MAY £12.Sk raised for children to have Wlld Days Out When May came around, we startèd the plans to dÈlivÈr TCV'S Wild Days Out. a unique outdoor experience that helps children growing up in disadvanraged urban arèas build a lifelong connectior) to nature. TCV was fortunate to be part of the Big Give where every donation was doubled during a two-week ampaign in April We were incredibly thankful to Ihe donors whose generosity supported the delivery of children's activities such ès den building. bug hunting, bird watching and nature craft5 and gBmes- inspiring the nexl generation to care about nature. AUGUST TCV backs the Nature 2030 campaign TCV was part of an 80-strong charity coalition who launchèd a landmark 5-point plan for nature. the'Nature 2030, campaign The 5 key asks of political parties Included.- doubling the wildlife-friendly farming budget. making polluters pay for nature restoration, a large- Scale green jobs creation scheme. increased protection and funding lor wildlife sites and a new law guaranleeing environmenial rights. With celebrity supporters Including Steve Back5hall, Chr15 Packham and MegBn Mccubbin, the launch got the attention of media and MP backing. and the ￿tItIOn reached almost 100,000 public signatures. .v FIVE WAYS TO PROTECT AND RESTORE NATURE BY 2030 SEPTEMBER MSP sees our contribution to Scotland's urban nature Lorna Slaler, MSP for the Scoitish G￿en Party, visiled us In Glasgow to understand more about people's connection to nature and the biodiversity crisis Ms Slater. who was Minister for Green Skills. Circular Economy ènd 8iodiversity at the lime. saw Ihe projects we run In partnership with Glasgow City Council and Naturescot. and met with the community volunteers who enrich the are8's biodiversity and make It accÈssiblÈ for local people. We were proud to demonstrate ro Ms SIBter the contribulion TCV volunteers make rowards the Scottish Government's ambition5 for urban nature. JUNE FIVÈ award wins for t•ams workln9 wlth Th• Land Trust At the start of summer we celebrated another year of wins at The Land Trust Awards. Congratulations were given to five TCV tèams. Greenwich Ecology Park in London won Community Site of the Year. Kiveton Community Woodlands in South Yorkshire won Health Site of the Year, and Wellesley Woods in North Hampshire won Most Improved Site of the Year Ranger of the Year went to Neil Mcmahon. who works at Countess of Chester Country Perk and has been with TCV for 27 years! Port Sunlight River Park received a highly commended mention for Best Friend5 of comrnunity group A fantastic showcase of TCV'S work across England. JANUARY teers valued at £128.5m e were proud to release slalistics that demonstrate the Impact and Ènvironmental outputs of TCV'5 incredible volunteers. We worked with external sustainability consultants on this research and bèlow are some Èxamples of what we found.. 66ha of InvèsivÈ species removed OCTOBER Voluntè•rs c•l•bratèd at annual TCV Hèro Awards Thank5 to players of People'5 Postcode Lottery. we're able to connect more wople and green spaces and celebrate their volunteer èehievements through thè annual TCV Hero Awards. This year's winners were a fantastic rnix of individuals, groups and TCV Community Neiwork members, all showcasing the multiple OLJtcomes they experience by volunteering. We saw 89 year old Pat Alexander talk about his 27 year5 Wlth TCV in Edinburgh.. a group of refugees finding solacè al our Northern Ir&land tr&e nursery-. the Hull Park Troad group In York coming together with a rnix of age5. abilities and b£ckgroun(Is'. and Railway Fields Community Network group who InvitÈ Londoners to their green space nÈstled within a busy Ljrban high street. 266ha of woodlands managed 11 ionnes of air pollution Ibsorbed I Im increased visits to green spaces. Taking thÈse Into account for nature and society, TCV volunteÈrs are e5tirnated to have created a natural and social VBlue of £128.5m, cumulative over 30 years. Comparing this to TCV'S 2022-23 expÈnditurÈ, th15 rÈprÈsents a rèturn on Investment of 14.5. We've using these fantastic figur85 to encourage more individuals funders to support usl 111 lllll FEBRUARY Tang Hall Youth celebrate Lottery success Thè vibrant community of Tang Hall in York rejoiced as the National Lottery Community Fund awarded a grant of £449,552 for three years. This funding not only sustains the existing youth provision but also elÈvates the outdoor elèments of thè programme centrèd around Hull Road Park. The project is delivered in partnership with North Il'(Mxll&MI Yorkshire Youth and Choose2 CIC. and our team will expand the Ilward¥ outdoor and environmental sessions that we've been running for six year5. Together. we Bim to empower (li5advantaged youth5, ensuring they can fulFIl their potential, feel confident about their future. and foster a strong connÈction to thelr communlty. NOVEMBER TCV wins awards at the Tree 05cars! During National Tree Week. we were very proud to win two awards t the London TreÈ ènd Woodland Awards, which are affèctionately known as the Tree Oscars. For our corporate volunteering partnership with our long-standing partners Natwest, we won The Trees and Business Award. which focu5es on a tree plantln9 and management project led by significant business involvement. TCV'S team in Haringey also won the Communily Woodland Award for Ancient Woodland Restoration. in partnership with Haringey Council. and the 3 Friends Groups for each ancient woodland. The awards were a fènt8stic Èvent, held by Greètèr London Authority and Forestry Commission Bnd opened by Deputy Mayor Shirley Rodriguez. who noted how they've planted over 100.000 trees with us. MARCH Rèbècca Kènnolly M8E lolns us as nèw CEO At the end of 2023-24. Rebecca Kennelly became our new CEO. joining us from The Ouke of EdinbLJrgh's Award IDofEI, where She Served as the Executive Director of UK Operations since July 2021. Prior to that. she was the Director of Volunteering for the Royal Voluntary Service. Rebecca was awarded an MBE for her service during the COVID-19 response as she was responsible for delivery of the NHS Volunteer Responders scheme that mobilised over 600.000 volunteers to SLJpport vulnerable pèople ancj thè NHS Rebecca's wealth of experience in executive leadership and Strategic development. and her deep knowledge of volunteering will be a tangiblÈ bènefit to supporting and expanding our Èxisting 11.000-strong volunteer base. DECEMBER Mayor of London105ns us to plant hls 500.OOOth tree The Mèyor of London, Sèdi4 Khan, plènted è tree at a Wan(Isworth-based community special school to commetnorate funding half a million trÈÈs for London. TCV was there to celebrate as that ceremonial tree was a very special l Dig Trees tree. TCV'S PBrtnership with the Mayor of London goes back to 2018 and we've since given away 101,399 Ir&&s to Londoners. Tree5 cool the city and provide shade. as well as help protect from flooding and make London a greener city with access to healthy outdoor space. With tlièse extraordinary benefits, WÈ were very proud to cornmernorate our joint achievements and provide the 500,OOOth trÈe that the Mayor pIBnted. Who we are We are The Conservation Volunteers. We connect people and green spaces to deliver lasting outcomes for both. We do this by bringing people together to create. improve and care for green spaces.. from local parks and community gardens to local nature reserves and Sites ol Special Scientific Interest.. from school grounds and hospital grounds to waterways, wetlands and woodlands. We connect people to the green spaces that form a vital part of any healthy, happy community. Our team of dedicated, passionate staff and volunteers work with communities across England, Northern Ireland and Scotland and, through our Community Network, we support local community groups across the UK. OUR OUTCOMES AND HOW WE DELIVER THEM: e Ccmwvatyon v￿11￿104¥S ••• Health & Wellbeing People improve their physical and mental health and wellbeing by being outdoors. active and connected with others. Communities Communities are stronger. working together to improve the places where people live and tackling the issues that matter to them. Learning & Skills People improve their confidence. skills and prospects through learning inspired by the outdoors. Environment Green spaces are created, protected and improved. for nature and for people. Our work with the environment underpins all our other outcomes. Over the following pages, you Can read about examples of TCV s activities. each of which deliver one or more of the above outcomes. TCV Annual Report and Financial Statements 2023-24 Our impact: 2023-24 We transformed TCV worked with We had over 1,354 We delivered green spaces and delivered 115,331 96,741 13,662 people volunteers 59,594 workdays days of green space connections through occasional volunteering, training courses, nature engagement and education sessions 99% of our volunteers rate their experience as excellent (81 %) or good (18%)! We represent diversity 18% of our reglstered volunteers have a dlsabS11ty 17% of registered volunteers are from ethnlc mlnorlty backgrounds 20% of ¢)ur registered volunteers are In the top 20% most deprlved VK areas And of our volunteers 93% have learnt new skllls are more connected at 82/ leel more connected to their local community ou provlde not only reason5 but the ablllty to do thlng You are an astonishing oryanisation." Sir David Attenborough. TCV Vjce President talkn'ng about TCV TCV Annual Rèport and Financial Statèments 2023-24 7 Nature is for everyone Trafford Choices and Gorse Hill Studios. Centred around planting 750 wildflower bulb5 In three Trafford- area parks, volunte&r5 were able to learn about wildflowers, the growing process and pollinators, as well as making the parks beautiful and enjoyable places to be They were Iso able to practise the physical skills of using a trowel and bending up and down to plant the bulbs- something that isn't always easy for them. TCV in South Yorkshire works in partnership with Harrison College, a specialist &mployability and education provider based in Doncaster for post-16-year old students. Many of the students possess a range ol neuro-diversity differences and associated social Our team In South Yorkshire supports young people with additional needs to gain skills and confidence to enter mainstream employment. The students learn real, hands-on. conservation skills in TCV South Yorkshire's Community Woodlands. alongside planning. risk assessing and managing projects on TCV sites safely. Everyone deserves to have nature in their lives, which is why TCV'S regional teams across the UK create safe, welcoming spaces lor people who face barriers to accessing green space, especially tho* who could benefit most. This 15 one of our strategic goals and we have countless examples of our regional teams making it happen. TCV in Manchester has worked closely in partnership with organisations that support adults and young people with learning disabilities, Trafford One20ne, The phenomenon of l Dig Trees TCV'S flagship community tree- planting programme opened for another season. giving out thousands of free trees for communities. With over 3.7 million trees planted so far, l Dig Trees IS the largest community trÈè-Dlanting projèct of its kind In thè UK. communities and nature in mind. Trees to suit their needs that provide maximum benefit for our cherished green spaces and the wildlife within. In 2023-24, for the first time we brought in a mix of partners and asked the public to support the programme, so that mor community groups and their local green spaces could benefit from the offer. Thanks to OVO. Natwest. the Greater London Authority and South Yorkshire Mayoral Combined Authority amongst others, we are near our target to plant 5 million trees by 2025. The programme offers trees to community groups. schools. residential homes, parks. universities any community green space with public access. In 2023-24, we engaged over 22,000 volunteers from more than 1,200 community groups. This is people power at its very best. With each new planting scheme. we reate and connect wildlife corridors that allow nature to flourish in our communities. To9eth&r with our partners and supporters, we also made steps to tackle climat& change with our carbon-busting trees. planted 3.000 pocket forests to create havens for wildlife across the country and greened up local environments for generations to enjoy. Grown in the UK. our native tree packs were carefully selected with 8 TCV Annual Report and Financial Statements 2023-24 Diverse and multiple outcomes from our Natwest partnership the 2023 Corporate Engagement Awards for Best Environmental or Sustainable Programme. Activities are as diverse as land management, creating ponds, sowing wildflower meadows, planting trees and constructing footpaths. Working together as one team. Natwest colleagues have helped transform. protect and care lor community green spaces for everyone to enjoy. They have also provided their staff with increased motivation. enhanced skills and 5elf-confidence, and improved tèam building and communication skills. For nearly 20 years, organisations and their employees have been working with TCV successfully to transform local communities and "Using 3 da￿$ a year for CSR activity green spaces. Natwest has been is a great benefit we are afforded by our side that whole time. In by NatWe5t Group. The teamwork, 2023 alonè, 3,738 colléaguès took collaborètion ènd connectivity èwèy part in environmental volunteering from any screens is as much of a days. adding up to more than ben&fit ft)r us Bs the communities 26,000 hours of volunteer time. that our efforts are supporting." This contribution also included over Craig Gray. Head of Sales, Working 62.000 more trees planted as part of Capital Sales Natwest the Natwest Forest. with colleagues and Tcvplanting trees in Bolton. During 2023, we also created a tree nursery and an innovative seed collection programme at Royal Bank of Scotland's Edinburgh HQ. which we launched in April 2024. Overseen by our teams in Edinburgh, tree seeds that have been collected by colleagues are being grown in the Gogarburn nursery. They will bè tended to for the next two year5 and will then be planted around Scotland creating a legacy of locally sourced and grown trees for years to come. The quality of this partnership was recognised with a Silver Award at 'A brilliant toclay volunteering TCV Community Garden and Allotments in Northern Ireland: the impact Thanks to funding from the Public Health Agency (PHA). TCV continues to connect people Northern Irèland- wide to green 5pace5 to enhance their health and wellbeing. 963 Green Gym Sessions delivered 41 community garden and allotment5 enhanced 8,211 reglstered attendances 3,886 public event micro- volunteers 8,640 average steps per Green Gym session 5.2Kg of vegetables harvested and enjoyed per square metre of growing space £7.80 weekly saving per volunteer from making a family meal with fresh produce grown. The team provides TCV Green Gym activities. which include planting heritage fruit tree orchards and pollinators, organic vegetable growing methods. creating homes for nature, building nature access paths, litter lifts and recycling. All these volunteèr tasks contributè to thè wid&r health of our plan&t and people. throughout their week 81% visit green spaces more frequently since joining TCV 96% hav& learnt new skills 94% feel more confident and th&ir well-being has improved 87% feel more connected to their local community Using TCV'S Green Gym model approach in both rural and urban settings. we delivered the following impacts from April 2023 to Narch 2024.. TCV'S Impact monitoring completed with registered volunteers link5 closely to the PHA Take S Strategic objectives.. 92% are more physically active TCV Annual Report and Financial Statements 2023-24 9 Trustees, and Directors, report incorporating the Strategic Report OUR OBJECTIVES AND ACTIVITIES Learnlng & Skllls People Improv& th&ir confldtncè, skllls and prosp•cts, through learning inspired by the outdoors. The charity's objectives are.. To conserve the environment for the benefit of the ublic Including.. th& conservation and maintènance of the character and amenity of rural, urban and inner- city areas the maintenance and management of nature reserves and other sites of biological. scientific or environmental importance TCV deliver5 nature-ba5ed learning and skills providing experience. training and qualifications in green spaces for pÈopl• of all a9es. Examples of activities delivered this year, which each contributed to one or more of these outcomes, can be found throughout the prèceding pages of this document. To educate the public in principles of conservation through volunteering and community support FINANCIAL REVIEW To advonce the education of the public through the provision of training. in particular.. in practical conservation skills basic skills skills to improve employmènt prospects TCV reported net expenditure of £317k for the year (2023.. net expenditure of £373k). This Includod a continued investment in the Income Generation Strategy to support growth in TCV'S unrestricted income. This investment is a medium term investment ond an opportunity to develop sustainable long term income sources. To develop the capacity and skills, primarily through volunteering opportunities, of the public at large and those who by rèa50n of youth, agè, infirmity or d15ability, poverty or economic and social circumstances, have of such facilities with the object of improving their conditions of life. other contributing factors to net expenditure Include the unpreeedented impaet of extèrnal Inflation, which has seen Significant Increase5 in all baseline costs of both property and overhead costs and materials for the delivery of projects. The trustees have complied with their duty to have due regard to the Charity Commission's public benefit guidance when exercising any powers or duties to which the guidance is relevant. As this is the second year of net expenditure. reserves are now in the lower quartile of the stipulated policy range of 7-14 weeks of unrestricted expenditure. OUR OUTCOMES AND HOW WE DELIVER THEM The Charity closed the year with reserves of £3,698k (2023". £4,015k), including unrestrictèd reserves of £1,941k (2023.. £2,316k) freè reserve5 of £970k (2023.. £1,373k) and capital reserves of £770k (2023.. £742k). Envlronment Green spaces are created, protected and improved, for naturè and for peopl•. Our work with the environment underpin5 all our other outcomes. INCOME TCV delivers hands On* practical action - planting trees, incroasing biodiversity and Improving groen spaces. TCV delivers nature-connections for those who need it most. 2024 2023 Change £'ooo £'ooo £'ooo 10,289 10,716 (427) loi 62 39 143 217 {74) 66 66 10,599 11,061 Charitable activities Other trading activities Donations and legacies Investments Total Incomè Health & Wellbeing People improve their physical and mentol health and wellbeing by being outdoors. active and connected wlth others. (462) TCV delivèrs meanirngful group-ba5ed physical activity reducing isolation and Improvln9 hèalth and w•ll￿1n9. Income decreased by £462k to £10.599k in the year as a result ol the factors detailed below.. Communities Communities are strong&r, working together to improvè the places where people live and tackl& th& issues that matter to them. Betwèèn the 2021-22 and 2022-23 financial years, there was a 51gnificant increase In income following the post COVIO recovery period. This slight d&crease in overall income Is seen as indicative of a settling of the new income levels. TCV delivers community connections supporting and empowering communities to make change - creating community green spaces and networks that build a sense of b•longlng. 10 TCV Annual Report and Financial Statements 2023-24 2023-24 has been a challenging year. In the context of the wider economic environment and cost of living cri515, the number ol organi5ations applying for grant funding ha5 made competition for these funds much more diff Icult, at a time when TCV'S services to green spaces and communities have never been need&d more. A key challenge during 2023-24 was controlling costs in the face of significant Increases due to inflation. whilst a150 ensuring the high Quality delivery of programme5 wa5 maintained. Fundraising costs were maintained at the higher level during 2023-24 to support the ongoing work of the Income Generation Strategy. During the year, TCV was unfortunately unsuccessful in securing income from the new Shared Prosperity Fund (£823k over 2 years) in Northern Ireland. which was to replace the European Social Fund income post 8rexit. but growth areas included the new Clyde Climate Forest project in Scotland. TCV did not use any professional fundraisers or commercial participators. and did not adopt any voluntary regulatory fundraising schemes or standards during the year pending recruitment of fundraising and artnership re50urce5. Following the acqui51tion of the trademark for .1 Dig Trées" TCV was able to expand the tree planting programm& to a value of £l.Sm and into new areas, including new agreements with the Greater London Authority and the continuation and growth of partnerships with the Queen's Green Canopy and the Northern Forest. TCV did not engage In any proactive individual fundraising during the year, and no complaints were received about TCV fundraising. BALANCE SHEET In 2023, The National Grid Share Surrender Scheme generated £116k of unrestricted donations. Apart from this unusual item, there has been an increase In general unrestricted donation5 from Supporters this year. Restricted donations were lower due to the ending of the time limited relationship with Wates as their"Charity of the Year" and we seek new ways to engage with Wates in the future. 2024 2023 Change £'ooo £'ooo £'ooo 694 616 78 Tangible fixed assets Investment property Total fixed assets Debtors Asset5 held for resale Cash and cash equivalents Creditors Net current assets Provisions for liabilities Nèt assÈts 850 850 l.S44 1,466 3,398 3,797 187 187 700 779 (79) (1,978) (2,116) 138 2.307 2.647 (340) (153) (98) (ss) 3,698 4,015 1317) 78 (399) STATEMENT OF FINANCIAL ACTIVITIES 2024 2023 Change £'ooo £'ooo £'ooo 10,599 11,061 {462) Total Income Expenditure.. Charitable expenditure.. Health, conservation and community Training and employment Support costs Fundraising costs Total expenditure Th& Net assets decreased by £317k in the year (2023.. £373k decrease) with net assets of É3.698k at 31 March 2024 (2023: £4.01Sk) (8.825) (9.318) (12) (128) (1.653) (1.525) (426) (463) 00,916) 01,434) 493 116 1128) 37 518 The freehold owned property Sedum House. Doncaster has not been revalued and is shown on the accounts at the value from March 2022. Thè asset held for sale (Balallan Housè, Stirling) was 5ubj&ct to Internal consideration of Its fair value as part of the year end process. The asset was held at NBV on 31 Narch 2024 and was sold In April 2024. The profit on disposal will be recognised in the 2024-25 financial year. Net unrestricted expenditure Net restricted expenditure Total net income/ (expenditure) Net income/(expenditure) (375) (173) (202) 58 (200) 258 (517) (373) 56 (317) (373) 56 The provision for liabilities in relation to leasehold properties was increased in the year - mainly as a reflection ol the increased costs that would be anticipated upon surrender of leased properties. Expenditure decreased by £518kto £10,916k in the year as a result of the factors detailed below.. The overall decrease in expenditure is reflective of the reduction in income. TCV had a net cash outflow of £79k for thè yèar (2023.. £721k outflow). Despite the Real Living Wage increasing by over 10% TCV was able to meet this and retain its accreditation as a Real Living Wage Employer. Supporting our staff with fair pay is a kèy Dart of our futuré Rèward and Recognition Strategy which continues Into 2024-25. A pay award was given to all members of staff across the organisation in 2023-24. TCV Annual Report and Financial Statements 2023-24 11 STRATEGIC REPORT AND PLANS FOR FUTURE PERIODS Our impact work has become much more embedded in the everyday approach of our delivery staff. We have seen ongoing improvements in frequency and accuracy of our recording and the figures produced are routinely used in reports for external stakeholders. Forpe¢)ple and green 5pace5,' a thriving network for everyone The start of 2023-24 was the mid point of TCV'S 2021- 2025 strategy 'For people and green spaces.. a thriving network for everyone., responding to the challenging times in which we live. including the climate and ecological emergency, the national mental health crisis. and increasing social isolation and ineoualities. Our priorities for 2024-25 are.. Develop an approach for regular assessment of our environmental impact. building on the framework created with our external consultants. Plant 700.000 trees. continue to grow our stakeholder base and launch our tree inspection programme. Improve our knowledge of'others. {non-registered volunteers) in our system, particularly engagement with community group5. Continue to embed what we have,. improve engagement with the systems we have developed and plan for ftjture needs. Share impact information more systematically with the Leadership Team and Board by developing a dashboard for key metrics. Improve our communication of our impact to support increased volunteer engagement, new projects and external recognition ol our work. Our work is more relevant than ever in thi5 contèxt, and the strategy Includes three overarching goals that will drive our decision making to 2025, each with a sp&cific pledge to demonstrat& the scale of our ambition and make a clear commitment for change by 2025.. 11 We will deliver. demonstrate and promote projects that deliver multiple outcomes for people and green spaces with a pledge to grow our tree planting to 5 million trees by 2025 2] We will do more to support and empower others to connect people and green Spaces and deliver lasting outcomes for both, with a pledg& to support a thriving UK-wide network of over 5,000 community organisations 3] We will support more diverse audiences to connect with green spaces. with a pledge that by 2025 the work we do. and those we work with. will increasingly reflect the makeup of the communities we work in. Goal 2 A key focus in 2023-24 has been the development and launch of a new online resource platform for TCV'S Community Nétwork mèmbèrship. Community groups can sign up lor fr&&, and the online library Include5 downloadable and video handbooks on conservation voluntooring, safety. governance information and much more to support independent community groups connecting people and green spaces. Goal I Achievements in Year 3 of our strategy have built on the work undertaken in earlier years. For Goal I, this ha5 Supported u5 to embed our approache5 for understanding the impact our charity makes for people, green spaces and nature. The Community Network support package includes grants from the TCV Chestnut Fund to support small community and conservation groups, and simplified access to community group insurance through our artner5 Zurich. Thanks to the players of Pèople's Postcode Lottery, membership and the associated support continues to be free to access for all. A priority for this year was to improve our understanding of the environmental impact of our octivities. building on improvements to data recording on outputs. With the support ol external consultants. a framework was devised to estimate the natural and social impacts of our practical activities. This calculated the physical and social outcomes from TCV'S activity In 2022-23 and quantified these in terms of monetised impacts over 30 years. We also r&ceived recommendations for data collection, Improved quantificatior) and further res&arch. Our website provides an update on this work. During the year. TCV'S Community Network grew to 2.235 members. and based on sampling. we estimate that this supports more than 44.700 volunteers. TCV'S flagship l Trees campaign, which enables communities to plant trees in their local area. brings the total number of sur>ported community group5 to 5,791. This year we continued to plant a significant number of trees with community groups and volunteers - over 750.000. Our key partnerships at national. regional and local level are fundamental to the success ol this goal. The successful launch of our l Dig Trees website eneouraged greater involvement by a broader range of Stakeholder5 and supporters. Wè plan to build on last yèar 5 dèvèlopments further in 2024-25, led by one of our Assistant Operations Directors. In 2024-25. we will.. Continue to grow TCV'S Community Network membership to 2.500 independent local community groups, supporting an estimated 50,000 local volunteers. Build on the new digital resource library with more content to help and inspire community groups on topics such as Citizen Sciencé and Green Gym wellbeing Ideas. We would have liked to have made more progress in developing our systems to improve our knowledge of the impact of our work with groups. This was primarily due to resource constraints resulting from staff turnover. This remains a goal for future development. We undertake many projects with community groups and are potentially under-reporting the impact. 12 TCV Annual Report and Financial Statements 2023-24 Seek support to grow TCV s Chestnut Fund grants, which are invaluable for grass roots groups to connect people and green spaces. Build on our work with, and 5UPPOrt of, many more communities who are not formal members of the TCV Community Network and enable staff to record and recognise more of the valuable support they are providing. Remain an active partner in wider charity. corporate nd public sector networks. to widen benefit to people and green spaces. EDI into the way we work in TCV. our policies. practices. communication. and engagement. The projects and partners we work wlth enable us to reach dlv•rse audlences: We will Shape and deliver activities that meet and respond to the diverse needs of our communities and ensure our environments are inclusive and accessible. Wildlife & Countryside Link Route Map: We will continue to engage with this work to increase diversity in employment within the sector and progress with the actions that we have committed to as an organisation. Goal 3 In 2023-24, TCV gave significant locus to Internal progre55 of thi5 goal. We further embedded our Equality, Diversity and Inclusion (EDI) working group with a wider reaching audienc& from across TCV, many of whom have lived experience and who ar& passionate about the EDI agenda. The group have continued lo focus on the delivery of the EDI action plan for 2023-25 Goln9 Concern TCV continues to nurture a number ol long-term artnerships with local and national organisation5, which ha5 provided financial resilienee to the charity and is expected to do so into the future. Whilst recognising the challenging economic environment that the whole country is experiencing, there has never been a greater need for the projects and services that TCV offers to both the environment and the communities in which it operates. Resources were developed to include internal and external EDI best practice and communications. and the EDI calendar has been further embedded with Slgnificant progress made to highlight and celebrate campaign5 such as Black History Month, International Pride Nonth and Disability History Month. The ability to evidence this need is a key part of future funding applications that are already in train for 2025-26 and beyond with a focus on developing more long-térm relationships with new key partners. Positive partnerships were facilitated to deliver projects that reach diverse audiences across the UK e.g. Refugee Engagement. Building Roots. Green Skills. Employability in the Outdoors. Natural Connections-Autism. The trustees have reviewed forecasts to 31 March 2026 and based on those forecasts believe that TCV will be able to meet its liabilities as they fall due. These forecasts have been prepared having regard to risks and sensitivities to anticipated financial performance. a review ol actual performance compared to previous forecasts and consideration of financing facilities available. Mitigating actlons available in the event of adverse circum5tancÈs or financial performance havè a150 be&r) considered. TCV acknowledge5 the inherent uncertainty that is faced, particularly in light of the cost of living crisis and General Election outcome. But in spite of these. we do not consider there to be a material risk to the organisation as a going concern. Further EDI data was collected for TCV employees and volunteers, and OLJr annual EDI monitoring survey had a response rate of 66%, up almost IO% from the previous year. Succes5 in thi5 goal is makin9 Sure.. We fully understand the diversity of our volunteers and staff, and we have plans in place that deliver year-on-year improvement in the diversity of our volunteers and workforce. We choose to work with other partners who enable us to reach diverse audiences. We have projects in place that address specific barriers and use the learning to Influence all our projects. 8ased on the information currently available in respect of the future. the trustees consider that TCV has the plans and resources to manage its business risks succe551ully. The trustees have therefore prepared thèse financial statements on the going Concern basis. We commissioned the Employers, Network for Equality & Inclusion to produce a diagnostic report into improving EOI in TCV, and we have developed an action plan. which was launched in 2023-24 and will focus on the following areas.. Prin¢ip#l risks and un¢ert#lnties The trustees have overall responsibility for ensuring that TCV has appropriate systems of control for managing risk within the organisation. Inclusive Leadership & Declslon Maklng: We will actively lead EDI by championing and role-modelling Inclusive leadership and decision making. EDI Is Intrinsic to the way we make our decision5 and how we approach our work. TCV'S risk management process is designed to ensure that appropriate steps are taken to identify and mitigate risk and to provide reasonable assurance against material misstatement or loss. TCV aims to identify the major risks to the organisation, ranking them based on both likelihood and Impact. Major risks are considered when setting operational and strategic objectives and when approving significant grants and contracts. Diverse Workfor¢e. Board membership & Volunteers: We will put plans in place to increase the diversity of our employees. board members and volunteers to reflect the diverse communities we work with. and we will embed TCV Annual Report and Financial Statements 2023-24 13 The risk management process is managed throughout the business. The Leadership Team has risk as a standing agenda item and the Audit and Risk Committee (ARC) reviews the underlying management of risk within the organisation. It then brings this to the attention of the Board on a quarterly basis. Risk management Is embedded within the organisation to assess risk effectively and put appropriate controls and actions in place to mitigate risks to acceptable levels. The TREE e-learning platform achieved 96.ts compliance at the end of 2023-24, a phenomenal achievement in its first year. The platform will be developed to include more pathways for our diverse workforce to ensure a training plan is evident lor all users over the coming years. Rèputation risk- Including hèalth and saf•ty, $afeguardin9* Information se¢urity and volunteer expèri¢no5 Our approach to preventing regulatory breaches remained important during the year with training. procedures and potential incidents relating to health & safety (H&S) and safeguarding carefully managed by specialist employee managers and overseen by the ARC and the Board ol Trustees. To avoid breaching the 8oard's risk appetite limits, strategic risks are given a quantified threshold and mitigating actions. Performance against these thresholds Is monitored monthly by management. On an annual basis, the ARC provides the Board of Trustees with a summary review of risk management issues for It to consider. Strategic risk register oversight by the Board of Trustees during 2023-24 focused on the following additional risk areas. with matters arising reported by exception for each area of risk below.. During 202S-24 TCV ha5 implemented the majority of thé reeommendations made in thè 2022 Pèer H&S review conducted in partnership with the Woodland Trust and Wildfowl and Wetlands Trust. TCV has also achievod CHAS accreditation and Avetta membership. which are two external assessments of our H&S Nanagement System. Flnanclal rlsk: Includlng achlevement of our flnanclal plan. and bolng a reslllont organlsatlon The2023-24 strategicrisk register tracked financial risk in relation to targets for income, net contribution to reserves and the cash position. TCV continLJes to monitor and investigate all reported incidents including near misses with higher level incidents and RIDDOR incidents reported to the ARC and the Board. The charity continued to closely track the conversion of unsecured income and related income pipelines to inform income and outturn forecasts for the year. This monitoring has informed decisions regarding probability of success on certain pipeline opportunities and developed the organisation's intelligence to target specific funders with whom there is the greatest chance of success. We continue to improve our approach to understanding the experience of our volunteers In order to improve this over time, with new approaches taken to this as referenced earlier in this report. Part of the work of the specialist digital and data agency during 2021-22 included engagement with volunteers and led to an improvement in TCV'S understanding of its volunteers, and their motivations for volunteering with TCV. Following the constraints on cash in 2022-23, th& Board of Trustees agreed the continuance of the overdraft facility at the bank although thi5 was not required during the year due to an increased vigilance on cash management and debtor control. Safeguarding remained a key Driority for the organisation with the Safeguarding Advisory Group meeting on a quarterly basis, Wlth six safeguarding advisors In place across the operational teams. Operatlons and people: be a great place to work The risk objective for operations and people in 2023-24 was to ensure that the charity was a great place to work, with pèople and volunteer measures used to track progre55, including survey results, employee turnover and organisational competence. The safeguarding policy. procedure and development plan were all reviewed in the year with updates added where required. Further improvements were made to the controls over criminal record checks for staff and volunteers and the development of links with third sector safeguarding forums was made a priority. The Reward and Recognition strategy is agreed, but the Transformation Programme will now plan this as a detailed programme of work in its own right as this progresses. A new Organisational Design programme is underway and once TCV is right-sized. this project can be reviewed and revisited. It is still the ambition for TCV to become a median pay employer. Safèguarding training wa5 providèd both onlinè and face-to-face during the year with a high level of compliance with training requirements being maintained. The 2023-24 employee safeguarding survey confirmed a good level of safeguarding knowledge and confidence over the approach to be taken to any reporting requirements under the safeguarding procedure. Recruitrnent ha5 been c105ely monitored by the People Committee In 2023-24 to ensure any r&placement/like- for-like recruitment remains viable and that any new roles cannot be accommodated in other ways within TCV. Roles that have been advertised across the year have generally been filled quickly. however there has been the odd role that needed advertising more than once. Emma Aspinall fulfilled the role of Trustee Safeguarding Lead during 2023-24. The trustees have considered the major risks to which the charity Is exposed and satisfied themselves that systems or procedures are in place in order to manage 14 TCV Annual Report and Financial Statements 2023-24 those risks appropriately, and that internal systems and procedures are developing in the light of new requirements and learning from the risk management proces5. Available unrestricted reserves 2024 2023 Change £'ooo £'ooo £'ooo 3,698 4,015 1317) (1,757) (1,699) (58) (201) (201) 1.740 2,115 (770) (742) Total funds Less restricted funds Le55 revaluation reserve Unrestrlcted funds Le55 unrestricted fixed a55ets Avallable unrestrlcted résèrv•s Budgeted weekly unrestricted expenditure 2024-25 / 2023-24 respectively Minimum available reserves (7 week5 spend) Maximum available reserve5 (14 weeks spend) POLICIES (375) (28) Inv•stmènt pollcy TCV ha5 a high demand lor working capital, which Is brought about by th& seasonal nature of our activities, the mix of restricted and unrestricted activities, the timing of income and expenditure. and the possibility of longer-term capital commitments. 970 1.373 (403) 121 128 <7) Keeping funds accessible and liquid therefore remains a key aim of our investment policy when considering any deposits and investments together with the managèment of risk in relation to the institutional Investment of fund5. 851 896 (45) 1,702 1,792 (90) It is the policy of the trustees to hold Inve5tm&nts that.. are low risk and secure IAAA rated) are realisable in the short term aim to produce a total return as near to or in excess ol predicted inflation, whilst protecting underlying capital are ethical in terms of TCV'S environmental and social values. The calculation of the required and anticipated level ol available reserves is an integral part of TCV'S financial planning and reporting cycle. The trustees review the reserves policy on an annual basis and receive reports on compliance throughout thè yèar. Setting of the available reserves target includes consideration of the financial r&sourc&s required to implement our strategy, and of the principal financial. operational. people and reputational risks facing the charity, together with the seasonality of activities and diversity of funding inherent within our operating model. TCV doe5 not currently hold any investments or deposits with our bank. Th& Investment Property relatès to Sedum House, which is currently wholly occupied by a tenant (GB Railfreight). The asset cannot currently be liquidated as it is held under covenant with Doncaster MBC until December 2025. Restrlcted r•s•rves Restricted grants and donations received are separately recordèd and monitored to ensure that they are used in accordance with restriction5 imposèd by thè fundèr and that expenditure on projects does not exceed funding available. Resetves policy TCV'S reserves policy is to hold between 7 and 14 weeks of unrestricted expenditure as available unrestricted reserves. The trustees consider this amount suff Icient to allow the charity to continue It5 core activities during a period of unforeseen diff Iculties. Thi5 wa5 equivalent to holding between £85lk and £1,702k available reserves at 31 March 2024 (2023.. between É896k and £1,792k). Consultation The charity fully supports the concept of information sharing by appropriate two-woy communication. This includes use ol colleague and volunteer engagement surveys as part of a comprehensive communication strategy comprising multiple channels, including a regular email from thè CEO and a communication forum, Great Place to Work, which meets regularly. Available unrestricted reserves are defined as total unrestricted funds less unrestricted fixed assets (which are not readily convertible to cash). and amounts designated for essential future spending. Unrestricted funds are expected broadly to be maintained over the coming year and the trustees believe there is no other future essential spend for which available re5erve5 should be set aside. Anti-bribéry and corruptlon The charity gives du& care and consideration to the prevention of acts of bribery and corruption. It has set out and adopted a clear anti-bribery and corruption policy. appropriate to the size and nature of the charity. which provides clear guidance to staff. volunteers and associated stakeholders. The charity also has a formal whistle blowing policy. On 31 March 2024 available unrestricted reserves were £970k {2023.. £1,373k), marginally above the lower end of the target range specified by our policy. TCV Annual Report and Financial Statements 2023-24 15 STRUCTURE, GOVERNANCE AND MANAGEMENT and risk management and making appropriate recommendations to the 8oard for action. The CEO. Director of Central Services and Head of Finance are invited to attend each meeting, joined for specific agenda items by the Health and Safety Manager and Safeguarding and Volunteering Manager. The Committee maintains oversight of the resources required to lully measure and actively manage risk for the charity making use of Internal resources and third-party expertise as required. Le9al structure The charity is a company limit&d by guarantee. The governing instrument of the charity is the Articles of Association, originally dated March 1970 and last amended in July 2019. The Charity's investment powers are unrestricted except by general charity law. The Conservation Volunteers is a charity registered with the Charity Commission lor England and Wales and the Offiee of the Scottish Charity Regulator. The Committee considers and reviews matters relating to the preparation of the Annual Report and Financial Statements including the audit process and presents its findings to the Board, which formally approves the Annual Report and Financial Statements. In addition, it recommends to the Board measures to ensure that the key areas of risk are being Identified by the Board and that appropriate management controls are In place and their effectiveness reviewed on a regular basis. The Committee reviews the performance of the charity's external auditors annually and reports all audit findings to the Board of Trustees. Organlsation structure The trustee5 are responsible for the overall management of the charity and have delegated day-to-day running to the CEO, supported by the Leadership Team. The CEO and Leadership Team provide the trustees with quarterly reports on financial and operational performance. health and safety, people and business development activities. The Board of Trustees Trustees serve for an initial three-year term, which may be renewed for a further three years. It may be renewed for up to an additional three years (i.È. up to ninè years In total) If the trustees re501ve that it is in the best interests of th& charity. In addition to delivery ol the core responsibilities above", the ARC recommended policies to the 8oard for approval during the year," and reviewed quarterly legal and regulatory updates. The ARC also cèrried out dee dive r&views during the year. No trustees left the board In 2023-24, however the resilience and skills profile of the board was enhanced by a new trustee. Dermot Toberty. The ARC carried out a self-a5sessment review of Its performance during 2023-24. with an overall average score of 4.64 out of a possible S. The trustees bring a wealth of experience and expertise from a wide range ol sectors. Further details of the expertise brought by each Trustee are given on pages 19-20. Governance and Remuneration Committee (GRC) The GRC. at the request of the Board of Trustees, is reouired to identify and propose candidates for trusteeship and to advise the Board concerning the charity's remuneration approach, remuneration of the Leadership Team, benchmarking against roles in comparable organisations, and major matters of governance. The Board governs the organisation through compliance with the Charity Commission for England and Wales, Governance Code, and TCV'S vision. aims and charitable objectives. The Board held four formal meetings during the year, together with additional meetings as required to make other decisions as required by the TCV'S delegated authority policy. The Committee also assesses the appropriateness of trustees for re-appointment. The Committee has a mix of external members. who bring much value and expertise le.g. on HR matters), and serving Trustees. All n&w trustee5 are required to undertake a programme of induction, which aims to give a wide understandin9 of TCV, the external environment in which the organisation works and the challenges It faces. Members of the Board of Trustees. who are also Directors of the Company and trustees of the charity (for statutory purposes). are listed on page 18 together with the President and Vice Presidents. In addition to delivery to the core responsibilities above, the GRC recommended policie5 to the Board ft)r approval during the year and recommended Trustee and Independent Member Codes of Conduct to the Board for approval. The GRC carried out a self-assessment review of its performance during 2023-24. with an overall average score of 4.64 out of a possible 5. Quallfylng thlrd party Indemnlty provl$Sons The charity has made qualifying third-party indemnity prov15ions for the benefit of It5 trustees during thè yèar. These provisions remain in force at the reporting date. Audit and Risk Committee (ARC) The ARC assists the Board in discharging its responsibilities by considering and reviewing matters relating to the control environment. external audit 16 TCV Annual Report and Financial Statements 2023-24 TRUSTEES, RESPONSIBILITIES FOR THE FINANCIAL STATEMENTS In approving the Report of the Trustees. the trustees are also approving the Strategic Report in their capacity as company directors. The trustees (who are also Directors of TCV for the purposes of company law) are responsible for preparing the Trustees, and Directors, report. including the strategic report. and the financial statements in accordance with applicable law and regulations. Company law requires thè trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements In accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law. the trustees must not approve financial statements unless they are satisfied that they give a true and fair view of the state of affairs and the incoming resources and application ol resources, including the income and expenditure, of the charitable company lor the period. In preparing these financial statements the trustees are required to.. select suitable accounting policies and then apply them consistently observe the methods and principles in the Charities SORP make judgements and estimates that are reasonable and prudent state whether applicable UK accounting standards have been followed. subject to any material departures disclosed and explained in the financial statements prepare the financial statements on the going concern basis unless It 15 inappropriate to pr&sume that the charitable company will continue In business. Jon Towlèr Chair of the Board of Trustees 23 September 2024 The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy, at any time, the financial position of the charitable company and enable it to ensure that the financial 5tatetnents comply with the Companies Act 2006, Charities and Trustee Investment (Scotland) Act 2005, and Charities Accounts (Scotland) Regulations 2006 (as amended). They are also responsible for saf&guarding the assets of the charitable company and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees confirm that,. so far as each trustee is aware, there is no relevant audit information of which the charitable company's auditor Is unaware", and the trustee5 have taken all steps that they ought to have tak&n as trustee5 to make themselves aware of any r&l&vant audit Information and to establish that the charitable company's auditor is aware of that information. The trustees are responsible for the maintenance and integrity ol the corporate and financial information included in the charitable company's website. Legislation In the United Kingdom govèrning the preparation and dissemination of financial statements may differ from legislation In other jurisdictions. TCV Annual Report and Financial Statements 2023-24 17 Trustees and advisors PATRON GOVERNANCE AND LEADERSHIP TEAM REMUNERATION COMMITTEE Rebecca Kennelly M8E Andrew Walker KC - Chair (appointed 11 March 2024) CEO HM King Charles111 PRESIDENT Katie Bowyer Debbie Adams - Operations Director Scotland & Northern Ireland (to 11 August 2023 and 11 March 2024 to 9 August 2024,. acting CEO 12 August 2023 to 10 March 2024) Katherine Hutt - Head of Finance (Acting Finance Oirettor 13 October 2023 - 1 June 2024) Sir Jonathon Porritt C8E David Coloman- Chair, Learning through Landscapes - Indepenooo Tangible fixed assets Net current assets 770 774 1,544 2,307 1.123 1.184 Provisions (153) 1,740 (153) 3,698 Total net a5set5 1,958 Fund balances at 31 March 2023 were represented by.. Unrestrlct•d funds É'ooo Rèstrlctèd Ineomè funds £'ooo Total funds £'ooo Tangible fixed assets Net current assets 725 741 1,466 1,488 1,159 2.647 Provisions (98) 2,115 <981 4,015 Total net assets 1,900 34 TCV Annual Report and Financial Statements 2023-24 18 RECONCILIATION OF NET CASH FLOW FROM OPERATING ACTIVITIES 2024 £'ooo 2023 £'ooo Net (expenditure)/income (317) (373) Adjustments for.. Depreciation charges Oividends. interest and rents Profit on sale of fixed assets 87 75 (89) (82) (3) (468) 65 Decrease / (incr&ase) in debtors (Decrease) / increase in creditors Increase in provi510n5 Net cash provided by operating activities 399 038) 55 (2) (786) 19 OPERATING LEASE COMNITMENTS AND RECEIVABLES Total minimum commitments payable under non-cancellable operating leases are as follows". Land & 8ulldlngS 2024 2023 £'ooo £'ooo other 2024 £'ooo 2023 £'ooo Commitments payable.. Within one year Within two to five years Aftèr fivé yèar5 100 57 173 92 218 29 29 269 79 397 86 202 361 The total operating lease payments for the year were £535k (2023". £486k). Total minimum receivable5 under non-cancellable operatln9 lease5 for land and buildings temporarily surplu5 to the operational requirèments of the Charity are as follows.. 2024 £'ooo 2023 £'ooo Operating leases that expire.. Within one year Within two to five years 45 125 77 170 88 TCV Annual Report and Financial Statements 2023-24 35 20 PENSION SCHEMES The Charity operates a defined contribution scheme lor all qualifying employees. The assets of the schemes are held in separate funds administered by independent pension providers. The Charity participates in the CSP Alpha 2015 scheme, a multi-employer scheme which provides benefits to some 300 non-associated employer5. The scheme is a defined benefit scheme in the UK. It is not possible for the Charity to obtain suff Ici&nt information to enable It to account for the scheme as a defined benefit scheme. Therefor& It accounts for th& scheme as a defined contribution scheme. The total cost of pensions for the year incurred by the Charity was É325k (2023.. É381k), Included in other creditors is £47k 12023.. £149k) in respect of pension schemes. 21 RELATED PARTY TRANSACTIONS The Charity has considered the disclosure requirements of the Statement of Recommended Practice for Charities and believes that the following related party transactions. which are received at arms length. require to be disclosed. TCV is a member of thè Land Trust and also acts as a supplier to the Trust. During the year the Trust used thè services of TCV for site maintenance in fivé separatè location5 to the value of El.057m (2023 .. £784k). Thè Land Trust recéived no income from TCV. Ther& were no other r&lated party transactions. 22 CONTINGENT LIABILITIES If the Charity were to dispose of its freehold property on Mallard Way, Doncaster. prior to November 2025. Doncaster Metropolitan Borough Council would be entitled to SO% of the sole proceeds for the land. This clawbock entitlement has been taken into account in the updated valuation of the property obtained when it was re-classified as an investment property. The property is currently leased until December 2027, after the last date on which the clawback would crystalise. Certain grants rèceivèd In the currènt and previous yèars from EU and other funders includè rights to clawbaek amounts paid to the Charity. The Charity takes all reasonable steps to ensure it complies Wlth the terms attaching to receipt of EU and other income and consider5 any repayments to be unlikely. However, the Trustees recognise that this is a complex area and there is always a risk that some funding could become repayable following audits by the funders, verification teams. 23 CRITICAL JUDGEMENTS IN APPLYING ACCOUNTING POLICIES Accounting for grants and contracts The classification of income from charitable activities as either grant funding or contracts for provision of services requires judgement as to the nature of the terms agreed with the lunder. This classification affects both the presentation and timing ol income recognised in the Statement of Financial Activities. Contracts are classified as unrestricted income, which is recogni5ed in the periods in which the services are delivered. Grants are classifièd as restricted incomè and èrè rècognised when recéivablè providéd that conditions for reeèipt have been met, unless they specifically relate to a future period. The recognition of grants related to the purchase or construction of tangible fixed assets involves a further judgement as to the useful economic life of the assets to which they relate. 24 POST-BALANCE SHEET EVENT Disposal of Current Asset Held-For-Sale On 26 April 2024. the sale of &alallan House was concluded. The conditions for sale were met after the year end date of 31 March 2024 therefore this event has been classified as a non-adjusting event. The sale price was agreed at £530k with a carried net book value of the asset of £187k. giving a gain on disrjosal of £S43k. The proceeds from disposal and the associated gain will be recognised in the 2025 Financial Statements. 36 TCV Annual Report and Financial Statements 2023-24 25 SCHEDULE OF RESTRICTED GRANTS 2023-24 Opening Balance 01 April 2023 £'ooo 2024 Income Transfers 2024 between Expenditure funds £'ooo Closin9 Balance 31 March *24 £'ooo £'ooo É'ooo 8ulldln9 Roots Ayrshlr• Resettlement, integration, community learning and development In North, East and South Ayrshire Clackmannanshire Council Supporting tree planting in Nature Network priority areas in partnership with the Forth Climate Forest Supporting the Installation of wildflower meadow areas in support of the EPIC Pollinator Project Climate Action Fund (Community Fund) Acorn Farms food resilience and climate action project though the .1 can grow" project Crane Valley Project Fund Supporting the Reclaiming The Riverside project in partnership with Lets Go Outside and Learn East Sussex County Councll East Sussex Health Walk Scheme, East Sussex 123 Walk5 & East Sussex Hospital Green Gym5. E8 Scotland (Kinneil) Outdoor learning activities. and community Green Gym sessions Esméè Falrbalrn Enabling community groups and local people to engage with their local natural heritage and history Glasgow Communities Fund Supporting the Seven Lochs Community Action in Nature Groundworks UK Funding a year's traineeship for a new r&cruit in the conservation sector Heritage Fund Improve Biodiversity and community engagement across three county Wildlife sites in South Norfolk." St Clements Common, Langmere Green and Brockdish Common Restore the groen corridor along the river Crane at Cranford Linking communities with their local green spaces in and around Cumberaund HS2 Camdèn Fund- Camdèn Giving To support Camden resid&nts affected by the HS2 development to discover and care for green spaces in their neighbourhood through practical volunteering and Camden Green Gym North Lanarkshlrè Councll Delivery of Wild Well Day5 to open arid closed groups to improve and raise awareness of the natural health benefits of being outdoors Carried forward 17 (17) 24 06) 105 (105) 41 (3) (38) 118 (45) 73 27 126) 58 (38) 20 23 (23) 18 (18) <3) (5) (4) 13 (8) 88 332 (21) (292) 107 TCV Annual Report and Financial Statements 2023-24 37 Opening Balance 01 April 2023 £'ooo 88 2024 Income Transfers 2024 between Expenditure funds £'ooo (21) Closin9 Balance 31 March *24 £'ooo 107 £'ooo 332 £'ooo (292) Brought forward Postcodè Earth Trust Support for a rango of measures to support TCV in connecting people and green spaces to deliver lasting outcomes for both Additional award to support projects and activities in TCV 200 900 (636) (264) 200 Public Hèalth Agèncy Extension of Green Gym project (Protect Life) Green Gym Dig it Eat It programme to improve the environment whilst improving mental and physical health. skills and nutrition Mid Ulster Community growing programme Scottish Forestry Green Space for Health to promote green spaces in the grounds of Gartnavel hospitals in Glasgow D&velopment of the Clyde Climate Forest The Mersey FO￿$t Supporting the planting of Trees for Climate WÈst Llndsèy Distrlct Councll Helping local communities engage in maintenance of nature areas in West Lindsey District a) 122 23 (145) 42 (49) <5) 45 123 (17) (151) 14 (14) 45 (45) TOTAL Disclosed Grants 364 1,571 2,567 4,138 (688) (413) (940) (2,010) {2,950) 307 Other Restrlcted Revenue Grants 532 676 Total of A￿enue Grants 896 (I,ioi) 983 Restricted Capital Grants 803 31 (60) 774 Other grant5 not recognised through a dedicated fund 406 135 (541) Total 1,699 4,575 (966) (3,551) 1,757 Postcode Earth Trust The terms and conditions of this grant award allow it to be used flexibly to support the charity's strategic objectives, allowing It to be used to fund unrestricted costs and support costs across the organisation. Other smaller grants. where allowed by funding conditions, may be used to fund a small proportion of a larger unrestricted activity. This is always confirmed as part of the funding conditions ol the restricted award. all reporting terms and conditions are met and the match funding accounts for no more than 20°A of the whole project value. Other Restricted Revenue Grants comprises grants that do not require separate disclosure as per the grarnt funder's requirements. Transfers between fund5 reflects funding of TCV'S general charitable activities. 38 TCV Annual Report and Financial Statements 2023-24 26 SCHEDULE OF RESTRICTED GRANTS 2022-23 Opèning Balance 01 April 2022 S'ooo 2023 Transfers 2023 betweèn Expenditure funds £'ooo Closln9 8alancè 31 March'23 £'ooo Income É'ooo £'ooo Big Lottery Fund Chance to Study programme. Bulldlng Roots Ayrshlre Resettlement, integration, community learning and development In North, East and South Ayrshir&. Climate Action Fund (Community Fund) Acorn Farms food resilience and climate action project though the I can grow" project. DAERA (2) 50 {50) 76 (76) Creating environmental jobs on the North Coast. 15 {15) Esmee Fairbairn Enabling community groups and local people to engage with their local natural heritage and history. Glas9ow Communltlès Fund Supporting the Seven Lochs Community Action in Nature. 100 (42) 58 92 (69) 23 Heritage Fund Improve Biodiversity and community engagement across three county Wildlife sites in South Norfolk." St Clements Common, Langmere Green and 8roekdish Common. Restore the gr&en corridor along the river Crane at Cranford. (12) 79 60 (139) Linking communities with their local green spaces in and around Cumberaund. HS2 Camden Fund- Camden Glvln9 To support Camden residènts affectèd by thè HS2 development to discover and care for green spaces in their neighbourhood through practical volunt&ering and Camden Green Gym. Natural England Outside is Fun Outdoor Learning Activities for School children on community woodlands across South Yorkshire. 62 {62) {2) NorthÈrn Irèland Environmént A9èn¢y Habitat and landscape management at South Perrins and north coast of Northern Ireland. 29 (29) Postcode Earth Trust Support lor a range of measures to support TCV in connecting people and green spaces to deliver lasting outcomes for both. Additional award to support projects and activities in TCV. 80 (584) (216) 250 (78) (173) Carried forward 455 1.167 (664) (870) 88 TCV Annual Report and Financial Statements 2023-24 39 Opening Balance 01 April 2022 £'ooo 2023 Income Transfers 2023 between Expenditure funds £'ooo Closlng Balance 31 March'23 £'ooo É'ooo É'ooo Brought forward Public Health Agency Extension of Green Gym project (Protect Life). Green Gym Dig it Eat It programmè". to improve the environment whilst improving mental and phy51cal health, skills and nutrition. Western Green Gym.. to establish. develop and deliver the Green Gym and Fruit and Veg Green Gym in Western Belfast. Southern Green Gym.. to develop and provide support to local communities In developing and maintaining community gardens and allotmènts In Southern Belfast. 455 1,167 (664) (870) 88 12 129 (106) 23 103 (103) 61 (61) M1d Ulster Community growing programme. Scotland Counts - Community Flood Monitoring Scotland Counts Citizen Science 2022-23 commurnity flooding volunteer project. S¢ottish Forèstry Green Space for Health to promote green spaces in the grounds of Gartnavel hospitals in Glasgow. Development of the Clyde Climate Forest. Scottlsh Natural Herltage Deliver and develop and new Green Health partnership to bring tog&ther community green health proierts and key health referral agencies. The Earley Charity To deliver a trainee volunteer officer programme in Berkshire. Thè Woodland Trust Scotland Development of the Clyde Climate Forest. West Lindsey District Council Helping local communities engage in maintenance ol nature areas in West Lindsey District. 38 (31) 20 (20) (6) 12 59 (26) (25) 45 25 27 {27) 186 (186) 30 (30) TOTAL Di5¢105ed Grants 494 1,836 2.804 4,640 (664) (614) (1.278) 0,502 (2.067) (3.569) 164 Other Restricted Revenue Grants 609 732 Total of R•venu• Grants 1.103 896 Restricted Capital Grants 796 60 (53) 803 Other grants not r•co9nls•d through a dedicatèd fund 255 233 (488) Total 1.899 4.955 0.045) (4110) 1,699 40 TCV Annual Report and Financial Statements 2023-24 Schedule of conditional grants 2023-2024 During the year, the following organisations supported TCV'S activities. It 15 a condition of the provision of these funds that they are separately disclosed in this Annual Report and Financial Statements. Clackmannan5hire Council Coalfields Community Landscape Partnership Colchester Borough Council Community Forest Trust Department for Communities East Riding Yorkshire Council EB Scotland Foyle River Gardens Garfield Weston Foundation Glasgow City Council Glasgow River Activation Programme Greater London Authority Greenwich Millenium Village Limited Greenwood Community Forest Groundworks London Health Tree Foundation Heathrow Community Fund Hughes Insurance Humber Forests Leeds City Council Leicestershire and Rutland Community Foundation London Borough of Hounslow London Borough of Richmond Mersey Coastal Breeding Birds National Citizen Service National Forest Company National Grid National Lottery Heritage Fund Northern Ireland Environment Agency (NIEA) Peacock Charitable Trust ScotRail Stirling Council Stirlingshire Volunteer Enterprise Thames Chase Community For&5t The Greater London Authority The National Lottery Community Fund Trust lor Oxfordshire's Environment Vistry Partnerships Limited Wates Family Enterprise Trust West Midlands Combined Authority TCV Annual Report and Financial Statements 2023-24 41 As a Charity we rely on the support of individuals and organisations that share our determination to address the challenges facing people and green spaces today. The Conservation Volunteers Thank you to the individual donors, community groups, local and national government, lotteries, corporate partners. charities. trusts and landowners who support us - all of whom are committed to our vision of healthier, happier communities for everyone. Please get in touch for opportunities to support our valuable work. Visit tcv.org.uk/support The Conservation Volunteers Gresley House, Ten Pound Walk Doncaster DN4 5HX Telephone: 01302 388883 Email.. information@tcv.org.uk www.tcv.org.uk TCV is striving to support more diverse audiences year on year and is committed to the following initiatives to help us achieve this.. Iiira disabilty ljfl confident MINDFUL EMPLOYER Registered ¥Ylth FUNDRAISING REGULATOR EMPLOYER The Conservation Volunteers. a Registered Charity in Enpknd (261009) and in Scotland (SC039302) 'Green Gym," Is an InternatlC>nally registered trade mark ol TCV.