**Company Registration No. 01339783 (England and Wales)** ## **EPPING FOREST HERITAGE TRUST** ## **A COMPANY LIMITED BY GUARANTEE** **TRUSTEES' REPORT AND FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 MARCH 2024** ## **EPPING FOREST HERITAGE TRUST A COMPANY LIMITED BY GUARANTEE CHARITY ADMINISTRATIVE DETAILS** |**Trustees (who are also directors)**
**Company number**
**Registered Charity number**
**Registered office**
**Website**
**Chief Executive Officer**
**Accountants**
**Bankers**|J L Adams
J Blackman
J Gilbert
(resigned 19 March 2024)
J Harrington
P A Moxey
M Murphy
(resigned 5 September 2023)
C Pantling
R Perry-Gosling
D Pitwood
(appointed 5 September 2023)
J Richardson
(appointed 5 September 2023)
G Scott Spicer
M A Smith
(resigned 19 March 2024)
L Vacher
01339783
275076
The Warren Lodge
Loughton
Essex
IG10 4RN
https://efht.org.uk/
P Lewis
Hern Pocknells Limited
Chartered Accountants
Suites 1 & 2, Nash House
Hackman's Lane, Purleigh
Chelmsford
Essex
CM3 6RP
CAF Bank Limited
West Malling
Kent
ME19 4TA| |---|---| ## **EPPING FOREST HERITAGE TRUST A COMPANY LIMITED BY GUARANTEE CONTENTS** ||**Page**| |---|---| |Report of the Trustees and Directors|1 - 9| |Independent examiner's report|10 - 11| |Statement of Financial Activities|12| |Balance sheet|13| |Notes to the financial statements|14 - 22| ## **EPPING FOREST HERITAGE TRUST A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES AND DIRECTORS** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ The Trustees present their report and the financial statements for the year ended 31 March 2024. The Trustees, who are also Directors for the purposes of company law and who served during the year and up to the date of this report are shown in the Administrative Details section. The Trustees have prepared this Annual Report and the financial statements in accordance with applicable law including the Charities Act 2006, United Kingdom Generally Accepted Accounting Practice, our Articles of Association and with the accounting principles set out in the notes to these financial statements. Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted. ## **A. OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The charity's objectives are: For the benefit of the public in general (and in particular, but without limitation, the communities in and around Epping Forest): (a) To preserve and promote the natural, historical and cultural heritage of Epping Forest and to promote environmental conservation, protection and improvement in Epping Forest; and (b) to advance education by promoting greater knowledge, understanding and appreciation of Epping Forest. ## **Public benefit** The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the public benefit guidance, published by the Commission, in determining the activities undertaken by the charity. The trustees are satisfied that the aims and objectives of the charity, and the activities reported on below to achieve the aims, meet these principles. ## **B. ACHIEVEMENT AND PERFORMANCE** ## **Summary review of activities** This has been the second year of delivery of our Strategic Plan 2023-25, with the planned investment from our dedicated reserves delivering huge progress in delivering our overarching priority for the year of building our community around Epping Forest. We were delighted that our Chair, Judith Adams, deservedly received the 2023 Acorn Award at the London Tree Awards, jointly awarded by the Mayor of London and the Forestry Commission, to the individual who has made a particular difference to promoting and conserving trees. We report our activities against our new Strategic Objectives: ## **1. We will educate and inspire people about Epping Forest** We refreshed the look and feel of the Visitor Centre at High Beach, hosted our first exhibition about important people in the history of the Forest, and held two well attended children’s book readings by local authors. Our 27 dedicated volunteers contributed over 2,200 hours of volunteer time to welcome over 9,400 visitors to the Forest over the course of the year, providing them with helpful information for their visit. We also hosted the Chigwell & Epping Forest Orienteering Club’s annual event at the Visitor Centre, welcoming over 200 orienteers on the day. 1 ## **EPPING FOREST HERITAGE TRUST A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES AND DIRECTORS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **Summary review of activities (continued)** ## **1. We will educate and inspire people about Epping Forest (continued)** Our 16 fantastic walk leader and walk marshal volunteers continued to lead our highly-valued Forest-wide free monthly guided walks programme, contributing over 264 hours of volunteer time, and enabling 341 people to learn more about the Forest while getting some much-welcomed outdoor exercise. We are very grateful to the Wren Group and RSPB Northeast London Group for partnering on two of these walks, bringing their particular expertise and knowledge to share with walk participants. _"It was a privilege to experience the wonders hidden in the Forest." Sally, walk participant._ Our monthly e-mail newsletter grew to reach over 2,900 readers, up from 650 in 2023, and we distributed 3 editions of our Trust in the Forest magazine to our 1,000 plus members around the Forest. We were also delighted to pilot a new community engagement programme, with successful partnership walks with Muslim Hikers, Black Girls Hike, Muslim Women Connect and Sustainably Muslim, Transfemme Social and Hiking in Skirts, Wanderlust Women and Wanderers of Colour, attracting over 362 people from diverse communities to the Forest. Our walk leader and walk marshal volunteers gave over 72 hours of volunteer time to deliver the walk with Muslim Hikers. We ran two successful Forest Talks to engage different audiences in discussion about the Forest. The first, Feral Forest, hosted very kindly by Waltham Forest Council at their Town Hall, and introduced by Councillor Rosalind Dore, welcomed over 50 attendees and focused on the Forest and culture, with local artists Melissa Moore and Danny Treacy alongside local author Will Ashon, talking about how the Forest inspired their, and other artists’ work. The second, kindly hosted by Forest School in Walthamstow, involved over 60 participants, and discussed how best to represent nature in the local, regional and national elections planned for 2024. It featured Crispin Truman OBE, former Chief executive of CPRE, the countryside charity, Bridgit Fox, Regional External Affairs Office at the Woodland Trust and Kathryn Machin, Head of Community Engagement Campaigns, WWF-UK, involved in the development of the People’s Plan for Nature. In order to encourage more people to use public transport and walking to access the Forest we partnered with the City of London Corporation, Transport for London, Epping Town Council and Loughton Town Council to install signage at Epping and Loughton underground stations, with waymarked walking routes to the Forest. We would like to thank the City of London Corporation’s Central Fund for their support for this work. In September, our volunteers led over 150 people in total on the 14 mile Epping Forest Big Walk from Manor Park in the south of the Forest to Epping in the north of the Forest. We were delighted to have political support all along the route, with Newham MP Sir Stephen Timms welcoming participants to the start and walking the whole route with us, Council Leader Grace Williams welcoming people to Waltham Forest in Highams Park and Conservative Group Chair Holly Whitbread congratulating participants when they reached Bell Common in Epping. We are also grateful to The City of London for the support from their keepers, and to Ben Murphy, Chair of the Epping Forest and Commons Committee, Paul Thomson, former Superintendent of Epping Forest and Gordon Turpin, from Highams Park Planning Group, for their insightful speeches on route. Volunteer walk leaders, marshals and refreshment volunteers contributed over 72 hours of their time to make the Big Walk a success. We delivered a range of talks to local community organisations over the year including to the Chigwell WI, the 4th Epping Forest cubs group at Bancroft School and the Loughton History Society as well as attending the first national All Things Fungi Festival to promote Epping Forest and its huge diversity of fungi. 2 ## **EPPING FOREST HERITAGE TRUST A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES AND DIRECTORS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **Summary review of activities (continued)** ## **1. We will educate and inspire people about Epping Forest (continued)** We were also delighted to partner with the Essex Cultural Diversity Fund to design and then commission an artist to deliver a programme of activity designed to introduce new people to Epping Forest. We selected Talia Randall as the artist, and they will deliver their series of podcasts during 2024-25. Through the initiative of a volunteer, Marion Bertuzzo, we also initiated a monthly Epping Forest book review in our email newsletter, to whom we offer great thanks for her recommendations and reviews. ## **2. We will conserve and grow the Forest** We expanded our conservation activities over the last year thanks to funding from the City Bridge Foundation and support through the Big Give for our “Halo 50” Appeal. This meant we were able to deliver new conservation sessions in the south of the Forest, with a mixture of open sessions for members of the public and targeted sessions for women, non-binary and trans people. These sessions introduced 67 new volunteers to conservation activities in the Forest. Together they took part in 21 hands-on conservation sessions, delivering over 350 hours of voluntary activity. These sessions enabled us to reach new audiences in the south of the Forest with the majority of people coming from Waltham Forest, the majority of participants being women and over a third being from Black, Asian or Minority Ethnic Communities. Half were under 35, 25% had never come to the Forest before and for over 80% these were the first conservation activities they had ever participated in. Feedback from these new sessions has been incredibly positive, with a Net Promote Score of 91, and individual comments including: _“This was the most fulfilling day I have had for a very long time. Helping with conservation at Epping Forest, nothing better! I would highly recommend it to anyone who likes being outdoors.”_ ## _“It was fun being with like-minded women and doing physical work” Womens Volunteer session._ As part of our approach to engaging more people from more diverse communities in conservation we also partnered with 2 organisations for a combined bespoke walk and conservation session, both of which had wonderful feedback. 18 people attended an event we hosted with Trans Femme/Hiking in Skirts, a group for trans people to get together to support one another in the natural environment. 32 people attended an event we hosted with Wanderlust Women, who are a group for “Muslim women to connect together, with Allah and with nature by going on hikes and adventures”. We also continued to grow our Green Team on Thursdays, who last year included 33 different individuals over the course of the year (a 100% increase from active participants compared to March 2023’s 16) and completed 35 conservation sessions delivering 1,173 hours of volunteer time. The City of London Corporation conservation team have reported that the diversity of grassland species has significantly increased on Fairmead Glade since our repeat visits. Our team of people with learning disabilities, the Happy Loppers, undertook 36 sessions involving 23 people including their support workers delivering 1,520 hours of volunteer time. The groups worked on 12 separate sites removing dense stands of holly to open up the Forest floor to increase ground level flora and open “halos of light” around ancient pollarded trees. James’ mum said “ _As always, your support and kindness to James when he attends the Happy Loppers sessions is very much appreciated by both of us and the Loppers sessions mean so much to James. He says that it’s his favourite activity in the week (I think that’s probably when the weather is kind)! "_ 3 ## **EPPING FOREST HERITAGE TRUST A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES AND DIRECTORS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **Summary review of activities (continued)** ## **2. We will conserve and grow the Forest (continued)** Danny said _“Being a Happy Lopper gives one a sense of achievement”_ We made good progress on delivering against the Halo project, with 34 Ancient pollards released from shade by the end of March 2023. Whilst all our conservation sessions seek to make habitat improvements to improve species diversity in the Forest, we have added an additional approach to how we utilise the materials taken from tree cuttings. Habitat piles are always created to provide refuge areas for reptiles and amphibians. We are now also carefully placing pruning’s and logs in shallow ditch areas to create mini ‘leaky dams’. This aims to retain vital water in the Forest for longer and slow down water which might otherwise cause a flood risk further downstream. ## **3. We will protect and preserve the Forest** Over the course of the year we have been able to increase our activity advocating on behalf of the Forest. This increased activity has been particularly focused on responding to planning proposals which might have an adverse impact on the Forest. The work has been led by a dedicated team of 3 volunteers, supported by our Chief Executive Peter Lewis and Trustee Tricia Moxey. We have: - responded to Epping Forest District Council's Masterplan and other consultations on Latton Priory and North Weald Basset, securing changes which will help to better protect the Forest based on its designation as a Special Area of Conservation and SSSI. - responded to 12 individual planning applications and commented on the South Epping Masterplan consultation, on the environmental review of the construction of a Low Carbon Mobility Hub in Waltham Abbey and the Essex Minerals Local Plan Review, contributing to the refusal of seven applications as at the date of this report, with imposition of conditions secured on one application while we await the conclusion of a further seven applications, of which four relate to applications from the period of the last report. One application submitted before the period of the current report was approved where we contributed to the imposition of conditions. These individual applications include - proposals for solar farms immediately adjacent to the Forest, potentially impacting on its biodiversity and the natural aspect; - the creation of a quarry next to the River Roding near Abridge which could increase traffic and airborne pollution in the Forest; - the construction of a new care home adjacent to Walthamstow Forest; - proposals for large-scale housing developments at Barnfield Stables on Sewardstone Road and at Tudor House in Thornwood; - a number of rebuilds with increased footprints and car parking spaces adjacent to the Forest with the potential to increase visitor footfall and vehicle pollution which we believe, if built as planned, could have a detrimental impact on the Forest. - produced briefs on the Epping Forest District Council Local Plan and the Waltham Forest Local Plan. - **•** objected to the further expansion of City airport. - in liaison with Epping Forest Transport Action Group and London Cycling Campaign, encouraged Essex Highways to improve their road safety plans for the A104 Epping New Road for the benefit of Forest visitors by reducing the speed limit to 30mph, and introducing dedicated crossing points between the east and west of the Forest for the benefit of walkers, cyclists and horse riders. We continued to play an active part, informed by our members’ views, in the Epping Forest Consultative Group, convened by the City of London Corporation. We also submitted responses to their consultation on their Corporate Plan, their Equality Diversity and Inclusion Strategy and their consultation on their Natural Environment Strategies. We have been delighted to see that a number of our priorities in relation to equality, community engagement, increasing biodiversity, collaboration and partnership, and developing masterplans for locations across the Forest have been incorporated into their 4 Natural Environment Strategies. 4 ## **EPPING FOREST HERITAGE TRUST A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES AND DIRECTORS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **Summary review of activities (continued)** ## **3. We will protect and preserve the Forest (continued)** We continued to develop our relationships with community organisations around the Forest so that together we can be better informed about different aspects and locations in the Forest, and partner together on initiatives as appropriate. We completed a very successful awareness campaign ahead of the local elections in May 2023 in Epping Forest District Council (EFDC) where a third of Council seats were up for election. We secured pledges of support from candidates across all of the main parties in EFDC, 14 of whom were elected, representing Loughton Residents Association, the Green Party, the Conservatives and the Liberal Democrats as well as some independent councillors. To help raise the profile of Epping Forest at a Londonwide level we continued to play an active role in the More Natural Capital Coalition, which brings together a range of environmental organisations including CPRE London, London Wildlife Trust, the Woodland Trust, London National Park City, the Open Spaces Society and Trees for Cities to advocate for the London Mayor and London local authorities to do more to protect green spaces and increase biodiversity across the capital. ## **4. We will develop our governance and operations** We staged a successful AGM in October in Forest School in Walthamstow, with over 60 members in attendance. As a part of the AGM our members voted to agree a revised form of Articles of Association in order to strengthen and simplify our governance. We recruited two new Trustees with significant financial experience to the Board in September 2023 in order to manage a smooth handover from two of our longstanding Trustees, including our Treasurer, who both stepped down in March 2024. We embedded our new CRM system, Donorfy, to streamline our administrative functions in relation to members and supporters, and improved our handling of data. Over the course of the year we received funding from a range of partners including the City Bridge Foundation, The Charles S French Charitable Trust, Essex County Council, Awards for All, the Big Give and the Aviva Wild Isles Community Fund to help us deliver our strategic priorities, and we are grateful to them all for their support. We would like to thank all our staff, volunteers, partners, donors, supporters and funders for their role in delivering our work. ## **C. LOOKING FORWARD TO 2024/25** Our focus in 2024/25 will be “Building our Community”. Specifically we plan to build our community by extending our pilot engagement activities with community organisations interested in exploring Epping Forest, launching a new Corporate Supporter scheme, running awareness campaigns about the Forest in the run up to the local, regional and national elections, launching a new Walking App for Epping Forest, and involving a wider diversity of people and community organisations in our conservation activities. We also plan to enhance our impact in responding to planning proposals around the Forest through the efforts of a small number of expert volunteers supported by the Chief Executive. From an organisational development point of view our focus is now firmly on growing our membership and fundraising, as the requisite systems and structures are now in place to support this growth. We will continue to develop the expertise of our staff, trustees and volunteers by investing in their training. 5 ## **EPPING FOREST HERITAGE TRUST A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES AND DIRECTORS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **1. Headline deliverables for 2024-25 as set out against our Strategic Priorities** ## **a) Educating and inspiring people about the Forest** - Launch a new walking app for the Forest, reaching a wider audience and enabling them to navigate easily through the Forest - Secure partner funding to build on our pilot community engagement programme, welcome new people to the Forest and enhances our visitor welcome and walks programme - Increase the number of people participating in our free monthly guided walk programme and host walks with Black Girls Hike, Muslim Hikers and at least 6 other community organisations - **•** Optimise the impact of the Visitor Centre at High Beach in welcoming people to the Forest while maintaining current model of operation ## **b) Conserving and growing the Forest** - Consolidate our hands-on conservation activities, with a greater variety of hands-on conservation being undertaken by a more diverse set of participants, recruited both as individuals and through partnerships with at least 6 community organisations. ## **c) Protecting the Forest** - Deliver successful awareness campaigns in the run up to the local elections in Epping Forest District Council and the London Mayoral and Assembly elections in May - Respond impactfully to planning policy proposals which would have a significant negative impact on the Forest. ## **d) Organisational Priorities** - Grow the number and generosity of our members and supporters, investing time and resource in recruiting and supporting them, for the benefit of the Forest - Secure at least £100k of new trust and foundation partnership income to support the delivery of our charitable objectives. ## **e) Governance priority** - Develop a new strategy for the organisation to take effect from April 2025. ## **D. VOLUNTEERS, GRANTS & DONATIONS** Our work to protect and conserve the Forest relies on the generosity of our members, supporters, legacy donors, in memoriam donors, funding partners and other stakeholders, along with the dedication and commitment of our volunteers. We are hugely grateful to all those individuals and organisations that love and care about the Forest and who support our work. In particular we want to express our thanks to our 160 plus volunteers over the past year, who have between them helped people enjoy the Forest through their advice at the Visitor Centre at High Beach, have delivered our hands-on conservation activities in the Forest, have led and marshalled our growing guided walks programme and have spearheaded our work to respond to planning proposals around the Forest and brief our members on important planning proposals around the Forest. We would also like to thank the City of London Corporation for its ongoing investment in the Visitor Centre at High Beach, as well as providing offices and tool storage for the Trust in Warren Lodge and on the Warren site. They have also been generous in their Keeper support on the Big Walk and with our walk with Muslim Hikers. Thanks also to Councillor Stephen Murray, our honorary ambassador, for his ongoing support. 6 ## **EPPING FOREST HERITAGE TRUST A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES AND DIRECTORS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **D. VOLUNTEERS, GRANTS & DONATIONS (continued)** In addition, the Trust is very grateful to have been able to work with a group of fantastic partners and collaborators over the past year including Black Girls Hike, Muslim Hikers, the Wren Conservation Group, Epping Forest Transport Action Group, CPRE London, The Hive, Wanderlust Women, Muslim Women Connect, Sustainably Muslim, Transfemme Social, Hiking in Skirts, Epping Pride, The William Morris Gallery, Wanderers of Colour, and the Urban Tree Festival. ## **FINANCIAL REVIEW** ## **a. Going concern** After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. ## **b. Reserves policy** The Trust's total free reserves as at 31 March 2024 were £136,745 (last year £136,745). The level of reserves is principally due to the Trustees’ decision in 2022/23 to establish a designated fund of £230,000 to support the implementation of their strategic plan to conserve and protect the Forest for years to come. The total deficit from 2023/2024 of £117,509, which includes a year-end positive investment revaluation of £22,472 (in March 2023 the revaluation showed a loss of £19,394) will be subtracted from the designated reserve, leaving £112,491 remaining for the strategic plan. As part of the development of its new strategy the Board is clear that the Forest is currently facing unprecedented threats and will continue to face these and other threats for the foreseeable future. These threats include neighbouring development, high levels of pollution, high levels of footfall and climate change. In order for the Forest to be conserved and protected now, and for generations to come, the Board believe that the work set out in our new strategic plan will be needed on an ongoing basis: the Forest will need people to care for it and advocate on its behalf for years to come. The Board’s approach is therefore to develop programmes of work that are sustainable long into the future. In order to achieve this the Trustees designated £230,000 in 2023 towards investment in our strategy, being primarily an investment in organisational development, fundraising, marketing and membership. Fundraising income in 2023/2024 was 3 times higher than 2022/2023 due to this investment. The budgeted deficit for 2024/25 is £58,000. The Trustees’ long-term aim is for income consistently to equal or exceed expenditure, with reserves of 6 months' operating expenditure. In the short term we are incurring planned deficits as we invest in our future strategy and growth. We anchor our free reserves to 6 months' operating expenditure at our projected size beyond April 2025, which is in the region of £270,000. ## **c. Material investments policy** The Board has power to invest funds not immediately required for operational purposes in such investments, securities or properties as it thinks fit subject to any restrictions within the Articles of Association. ## **d. Principal risks and uncertainties** The Directors have reviewed the major risks to which the charity is exposed, and systems have been established to mitigate those risks. The risk register was last reviewed in March 2024. 7 ## **EPPING FOREST HERITAGE TRUST A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES AND DIRECTORS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** The Trust was incorporated on 21st November 1977 as a company limited by a guarantee and is governed by its Articles of Association. It was registered as a charity on 8th February 1978. It changed its name from Epping Forest Centenary Trust to Epping Forest Heritage Trust with effect from 12th April 2018 and its Articles of Association took effect on 17th April 2018. On that date the former charity, The Friends of Epping Forest (Charity No. 299970), transferred its assets to Epping Forest Heritage Trust and thereby amalgamated with it. Its Articles of Association set out the objects and powers of the Trust and the way it is governed. The Trust is governed by a Board of Trustees, with a minimum membership of three. At the end of March 2024, there were 10 trustees. A recruitment process was held in the summer of 2023 and 2 new trustees joined the board in September 2023. Judith Adams continued as Chair of the Trust. James Harrington became the Vice Chair in December 2023. All trustees give their time voluntarily and receive no benefits from the charity. Any person who is willing to act as a trustee, and who would not be disqualified from acting under the provisions of Article 26, may be elected to be a trustee by members by ordinary resolution for a period of three years, renewable up to a maximum term of 9 years. The Board of Trustees may appoint any person willing to be a Trustee for the period up to the following Annual General Meeting. In the year to 31st March 2024, the Board met formally three times, with an additional planning session in December. The Finance Committee (a sub-committee of the Board) met three times. In addition, trustees provided significant ongoing support to the organisation throughout the year. The full membership of the Trustee Board, who are also directors under the terms of the Companies Act, are set out above. The members of the Trustee Board have no beneficial interest in the group or charity. The Trustee Board delegates responsibility for the day-to-day activities of the organisation to the Chief Executive, Peter Lewis who reports to the Board at Trustee meetings, and who produces reports on the activities undertaken in managing the charity including management accounts that explain the financial position of the charity. ## **TRUSTEES' RESPONSIBILITIES** The trustees (who are also the directors for the purpose of company law) are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and regulations. Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees must 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 the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. 8 ## ## ## **EPPING FOREST HERITAGE TRUST A COMPANY LIMITED BY GUARANTEE INDEPENDENT EXAMINER'S REPORT** ## **TO THE TRUSTEES OF EPPING FOREST HERITAGE TRUST** I report to the trustees (who are also directors for the purpose of company law) on my examination of the financial statements of Epping Forest Heritage Trust (the 'charitable company') for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet and related notes. ## **Responsibilities and basis of report** As the trustees of the charitable company you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). Having satisfied myself that the financial statements of the charitable company are not required to be audited under Part 16 of the Act and are eligible for independent examination, I report in respect of my examination of the charitable company’s financial statements carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’) and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement. ## **Independent examiner’s statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: - accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act; or - the financial statements do not accord with those records; or - the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the financial statements give a ‘true and fair view which is not a matter considered as part of an independent examination; or - the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. 10 ## ## ## **EPPING FOREST HERITAGE TRUST A COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 INCLUDING THE INCOME AND EXPENDITURE ACCOUNT** **----- Start of picture text -----**
Unrestricted Restricted
Note funds funds Total Total
2024 2024 2024 2023
£ £ £ £
Income from:
Donations, legacies and grants 3 26,540 60,117 86,657 27,196
Investments 4 9,114 - 9,114 12,935
35,654 60,117 95,771 40,131
Expenditure on:
Charitable activities 5 175,635 60,125 235,760 201,638
Total expenditure 175,635 60,125 235,760 201,638
Net expenditure before net gains
/(losses) on investments (139,981) (8) (139,989) (161,507)
-
Net gains /(losses) on investments 22,472 22,472 (19,394)
Net expenditure for the year 15 (117,509) (8) (117,517) (180,901)
Reconciliation of funds:
Total funds brought forward 15 366,745 960 367,705 548,606
Transfers 15 - - - -
Total funds carried forward 249,236 952 250,188 367,705
**----- End of picture text -----**
12 ## ## |||2024||2A23| |---|---|---|---|---| ||Notes||f|f| |Non-current assets||||| |lnvestments|1 2||176,671|352,1 99| ||||176,671|352,1
gg| |Current assets||||| |Investments|'12|58,000||| |Debtors due within one year|1 3|1,332||3,1 94| |Cash at bank and in hand||27,775||19,202| |||87,107||22,396| |Greditors: anrounts falling due within one||||| |year|14|(13,590)||(6,890)| |Net current assets|||73,517|15,506| |Total assets less current liabilities|||250,1 BB|367,705| |Funds of the Charity||||| |Operational
funds|1 5||136,745|136,745| |Designated
funds|1 5||112,491|230,000| |Unrestricted
funds|||249,236|366,745| |Restricted
income funds|1 5||952|960| ||||250,1
8g|367,705
-| ## **EPPING FOREST HERITAGE TRUST A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **1 General information** Epping Forest Heritage Trust is a charitable company limited by guarantee, incorporated in England and Wales. The charitable company constitutes a public benefit entity as defined by FRS 102 (1A) "the Financial Reporting Standard applicable in the UK and Republic of Ireland". The registered office is: The Warren Lodge, Essex, IG10 4RN. The financial statements have been prepared in pounds sterling which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £. ## **2 Accounting policies** ## **2.1 Basis of preparation of financial statements** The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Epping Forest Heritage Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. The financial statements have been prepared under the historical cost convention except as noted in note 2.6 Investments. The principal accounting policies adopted are set out below. ## **2.2 Going concern** The trustees have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern. ## **2.3 Incoming resources** All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Company has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Company, can be reliably measured. Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. 14 ## **EPPING FOREST HERITAGE TRUST A COMPANY LIMITED BY GUARANTEE** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **2 Accounting policies (continued)** ## **2.4 Expenditure and depreciation** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent. Assets costing more than £3,000 are depreciated evenly over 5 years. IT equipment costing more than £3,000 is depreciated evenly over 3 years. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. ## **2.5 Investment income** Investment income, including interest on funds held on deposit and dividends from a managed investment portfolio, are included when receivable and the amount can be measured reliably by the Company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. ## **2.6 Investments** Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of Financial Activities. ## **2.7 Debtors** Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **2.8 Cash and cash equivalents** Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## **2.9 Liabilities** Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. 15 **EPPING FOREST HERITAGE TRUST A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **2 Accounting policies (continued)** ## **2.10 Fund Accounting** General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes. Designated funds are unrestricted funds earmarked for a particular project. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. ## **3 Income from donations and legacies** |Donations
Legacies and in memoriam
Grants
Similar incoming resources
Total 2023|**Unrestricted**
**funds**
**2024**
**£**
19,740
100
-
6,700
26,540
27,196|**Restricted**
**funds**
**2024**
**£**
17,617
-
42,500
-
60,117
-|**Total**
**funds**
**2024**
**£**
37,357
100
42,500
6,700
86,657
27,196|**Total**
**funds**
**2023**
**£**
18,991
2,650
-
5,555
27,196| |---|---|---|---|---| - **4 Investment income** |Income from listed investments
Interest
Total 2023|**Unrestricted**
**funds**
**2024**
**£**
8,847
267
9,114
12,935|**Restricted**
**funds**
**2024**
**£**
-
-
-
-|**Total**
**funds**
**2024**
**£**
8,847
267
9,114
12,935|**Total**
**funds**
**2023**
**£**
12,841
94
12,935| |---|---|---|---|---| 16 ## **EPPING FOREST HERITAGE TRUST A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ **----- Start of picture text -----**
Unrestricted Restricted Total Total
5 Analysis of expenditure on charitable activities funds funds funds funds
Summary by fund type 2024 2024 2024 2023
£ £ £ £
Charitable activities 175,635 60,125 235,760 201,638
Total 2023 193,067 8,571 201,638
Activities
undertaken Support Total Total
6 Analysis of expenditure by activities directly costs funds funds
2024 2024 2024 2023
£ £ £ £
Charitable activities 174,148 61,612 235,760 201,638
Total 2023 132,201 69,437 201,638
Total Total
Analysis of direct costs funds funds
2024 2023
£ £
Educate & Inspire 112,825 73,716
Conserve & Grow 52,201 31,755
Protect 9,122 26,730
174,148 132,201
Total Total
Analysis of support costs funds funds
2024 2023
£ £
Governance 7,246 10,095
Organisational development 31,305 38,234
Operations 23,061 21,108
61,612 69,437
7 Net expenditure for the year
2024 2023
£ £
Net expenditure for the year is stated after charging:
Independent examiner's remuneration - independent examination 2,520 2,700
- other financial services - 540
**----- End of picture text -----**
17 ## **EPPING FOREST HERITAGE TRUST A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **8 Taxation** The company is not subject to corporation tax on its investment income as it is a charity, which is exempt from tax. |**9**
**Staff costs**
Wages and salaries
Social security costs
Pension costs|**2024**
**£**
145,654
7,123
4,780
157,557|**2023**
**£**
110,432
5,509
4,267
120,208| |---|---|---| No employee received remuneration amounting to more than £60,000 in either year. Members of key management received remuneration (including employer's pension and national insurance contributions) of £59,508 (2023 - £56,548). ## **10 Employees** ## **Number of employees** The average monthly number of employees during the year was: |Chief executive officer
Conservation Officer
Administration
Education
Finance
Community Engagement|**2024**
**Number**
1
2
1
1
1
1
7|**2023**
**Number**
1
1
1
1
-
-
4| |---|---|---| Staffing levels on a full time equivalent basis were: |Chief executive officer
Conservation Officer
Education
Administration
Finance
Community Engagement|**2024**
**Number**
0.8
0.9
0.2
1.0
0.4
0.4
3.7|**2023**
**Number**
0.8
0.6
1.2
1.0
-
-
3.6| |---|---|---| ## **Role of volunteers** Over the course of the year the Trust benefited from the time and expertise of over 200 volunteers in relation to running the Visitor Centre at High Beach, leading walks, including the Big Walk and undertaking hands-on conservation activities (2023 - 60). In total volunteers contributed over 6,500 hours of their time over the year (2023 - 4,500). 18 ## **EPPING FOREST HERITAGE TRUST A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **11 Trustees' remuneration and expenses** During the year, no Trustees received any remuneration or other benefits (2023 - £nil). During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £nil). |**12**
**Investments**
**Valuation**
At 1 April
Disposals
Revaluations
At 31 March 2024|**Listed**
**investments**
**£**
352,199
(140,000)
22,472
234,671| |---|---| We hold a significant amount of our reserves in a CCLA COIF Charities Investment Fund which is a managed fund of a mixture of equities, bonds and property aimed at long term growth and reliable income distribution. It reduced from a value of £352,199 at the start of the financial year to £234,671 at the end of the financial year as result of drawings of £140,000 to invest in our new strategy and a positive revaluation of £22,472. It is accessible on one week’s notice. Because of the ability to access the funds at short notice, and the intention to expend these funds in line with our strategic plan, £58,000 of the investment has been reclassified from a fixed asset investment to a current asset investment during the year ended 31 March 2024. The investment is measured at fair value through income or expenditure. |**13**
**Debtors**
**Due within one year**
Other debtors
Prepayments
**14**
**Creditors: amounts falling due within one year**
Accruals
Other creditors|**2024**
**£**
-
1,332
1,332
**2024**
**£**
12,927
663
13,590|**2023**
**£**
2,609
585
3,194
**2023**
**£**
6,121
769
6,890| |---|---|---| 19 ## **EPPING FOREST HERITAGE TRUST A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ **----- Start of picture text -----**
15 Statement of funds
Statement of funds - current year
Balance 1 Increased / Balance 31
April 2023 Transfers (Decreased) March 2024
£ £ £ £
Unrestricted funds
Operational reserves 136,745 117,509 (117,509) 136,745
Designated funds
Investment fund 230,000 (117,509) 112,491
General funds - all funds 366,745 - (117,509) 249,236
Restricted funds 960 - (8) 952
960 - (8) 952
-
367,705 (117,517) 250,188
Restricted funds
Balance 1 Balance 31
April 2023 Income Expenditure March 2024
£ £ £ £
NLCF: Awards 4 All Walks with
BGH and Muslim Hikers - 10,000 (10,000) -
- -
City Bridge Conservation activities 27,500 (27,500)
- -
Big Give - Halo 50 7,274 (7,274)
Walking App - Charles S French
Charitable Trust - 3,000 (3,000) -
Walking App - Essex CC Locality
Fund - 2,000 (2,000) -
- -
Aviva Wild Isles Community Fund 10,343 (10,343)
Ken Hoy - Talks 960 (8) 952
960 60,117 (60,125) 952
**----- End of picture text -----**
We are very grateful to have received a variety of funding which has been restricted for specific charitable purposes of the year. These are as follows: - National Lottery Community Fund Awards for All. £10,000 for our walks programme with Muslim Hikers and Black Girls Hike, with the Hive as a supporting partner. These funds were distributed to our partners and incurred by us in the delivery of the walks programme over the year. - The City Bridge Foundation. We were awarded a grant of £67,500 from the City Bridge Foundation over the course of two year towards new conservation activities in the south of the Forest designed to increase the diversity of our conservation volunteers as well as increase the biodiversity of the Forest. This grant started in June 2023, and we have spent £27,500 of those restricted funds. 20 ## **EPPING FOREST HERITAGE TRUST A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **15 Statement of funds - continued** ## **Restricted funds - continued** - The Big Give Green Match Fund Halo 50 project. We received match funding from the Big Give towards our Halo 50 programme of work increasing the health and longevity of ancient trees by creating a circle of light around them. We raised £7,274 for this restricted programme of work from a range of individual donors and the match funding. - Aviva Wild Isles Community Fund. We received two to one match funding towards our community engagement activities from a mixture of individual donations and the match funding. We raised £10,343 through this programme and fully spent the funds on our various community engagement activities over the year. - We set up a restricted fund to develop our new Walking App for Epping Forest, and were delighted to receive support from the Charles S French Charitable Trust (£3,000) and Essex County Council Locality Fund (£2,000) towards this project. - Ken Hoy Fund. This fund was established to support talks about the Forest and we spent £8 of it on our debate about how best to represent nature ahead of the elections planned for 2024. **Unrestricted Funds** - Funds that are available to be spent for any purposes of the charity. **Investment Fund** - The trustees have designated funds to deliver its strategy of developing the organisation, its fundraising, marketing and membership. This fund is expected to be fully utilised by 31 March 2026. |**Statement of funds - prior year**
**Unrestricted funds**
**Operational reserves**
**Designated funds**
Investment fund
General funds - all funds
**Restricted funds**
In memory of Ken Hoy
City of London Central Grant (signage)|**Balance 1**
**April 2022**
**£**
540,517
-
540,517
1,114
6,975
8,089
548,606|**Transfers**
**£**
(231,442)
230,000
(1,442)
-
1,442
1,442
-|**Increased /**
**(Decreased)**
**£**
(172,330)
-
(172,330)
(154)
(8,417)
(8,571)
(180,901)|**Balance 31**
**March 2023**
**£**
136,745
230,000
366,745
960
-
960
367,705| |---|---|---|---|---| 21 ## **EPPING FOREST HERITAGE TRUST A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **16 Analysis of net assets between funds** |Investments
Other current assets
Fixed asset investments
Current assets
Creditors due within one year
Creditors due within one year|**Restricted**
**funds**
**£**
952
10,149
(10,149)
952
0.00
**Restricted**
**funds**
**£**
-
960
-
960|**Designated**
**funds**
**£**
112,491
-
-
112,491
**Designated**
**funds**
**£**
230,000
-
-
230,000|**Unrestricted**
**funds**
**£**
121,228
18,958
(3,441)
136,745
0.00
**Unrestricted**
**funds**
**£**
122,199
21,436
(6,890)
136,745|**2024**
**Total funds**
**£**
234,671
29,107
(13,590)
250,188
0.00
**2023**
**Total funds**
**£**
352,199
22,396
(6,890)
367,705| |---|---|---|---|---| ## **17 Related party transactions** The Company has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Company at 31 March 2024. ## **18 Post balance sheet events** On 31 May 2024, the charity reveived a legacy of £9,000 from the estate of Gerald Willian Goddard. We have also received a grants of £20,000 from Garfield Weston to support our core activities, been awarded £14,7000 from Central City Grants for community engagement work and received £2,500 from the Big Give Green Match Fund, which was used to raise a further £4,895 in donations and related Gift Aid towards our policy and planning work. 22 EPPING FOREST HERITAGE TRUST A COMPANY LIMITED BY GUARANTEE TRUSTEES. INFORMATION FOR THE YEAR ENDED 31 MARCH 2024 ## **EPPING FOREST HERITAGE TRUST A COMPANY LIMITED BY GUARANTEE ANALYSIS OF DIRECT COSTS** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ **----- Start of picture text -----**
2024 2023
DIRECT COSTS
Educate & Inspire
Visitor Centre 12,431
Sales of Stock 12,876
Donations 9,551
Walks
The Big Walk 4,382 236
Monthly Walk Programme 1,710 44
-
Walking App 9,845
-
Community Engagement Walks 13,234
Subscriptions 4,023 14,104
Donations
-
Appeals 4,521
In Memoriam 3,096 -
-
Legacy 3,096
Trust in the Forest Magazine 13,738 7,080
Website 9,283
Main website development/Ads 9,509
eCommerce 3,253
-
Identity 17,590
Social Media 3,354 12,544
-
Talk Programme 1,678
Urban Tree Festival & Others - 404
-
NLHF: Community Engagement Manager 14,959
Educate & Inspire Total 112,825 73,716
Conserve & Grow
Green Team 8,669 14,955
Happy Loppers charges 12,495 13,110
-
Big Give or similar 27,658
Local Grants 3,379 -
-
Other Conservation Projects 3,690
Conserve & Grow Total 52,201 31,755
Protect
Local Election Campaign 5,252 10,245
-
City of London Community / TFL Signage 8,417
Partner Subscriptions 1,019 4,034
Conservation Policy 2,851 4,034
Protect Total 9,122 26,730
TOTAL DIRECT ACTIVITIES 174,148 132,201
**----- End of picture text -----**
Page 1 of 2 ## **EPPING FOREST HERITAGE TRUST A COMPANY LIMITED BY GUARANTEE ANALYSIS OF SUPPORT COSTS** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ **----- Start of picture text -----**
2024 2023
SUPPORT COSTS
Governance
AGM 3,252 1,723
-
Trustee Training 1,076
-
Publishing Strategy 1,076
Accountancy 3,994 4,316
Recruit New Trustees - 1,904
Governance Total 7,246 10,095
Organisational development
IT - 16,923
-
CRM Ongoing 17,157
Fundraising Consultancy 9,511 15,932
-
Training & Development 4,637
Inclusion - 5,379
Organisational Development Total 31,305 38,234
Operations
Finance and Office Administration 15,235 14,390
-
Insurance/IT/Telephones 7,826
-
Unallocated Operational Costs 6,718
Operations Total 23,061 21,108
TOTAL SUPPORT COSTS 61,612 69,437
**----- End of picture text -----**
Page 2 of 2