2021-04-05-accounts

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Grange Farm Charlty Number. 285162 Grange Farni Centro Tru$t Trustees. Report and Financial Statements Forthe Year Ended 5 April 2021 •'

Grange Farm Centre Trust Contents Grange Fafm Page Legal ond administrative informatK>n Trustees reF¥)rt Auditors. report to the trustees 10-12 Statement of financial acbvities 13 Balance sheet 14 C8sh flow statement 15 Notes to the financial statsments 16-25

Grange Fann Contre Trust Contents Grange Farm Charfty name Grange Fami Centre Trust Charlty number 285162 Registered oifice 181 High Street Epping Essex CM16 4BQ Mr J Worby Clerk to the Trustses Trustees Mr T N Johrtson Mr R D Nevlle Mr J Salim Mr P Mindetti Mr P Kapasiavrala Mr C B Scnjtton Cllr M Sartsn Mr R W Church Mr M Vance Cllr R Morgan Mrs V Melc8We Cwtstive Trustee- Chairman CPIatiVe Trustee- retired March 2021 Cctroptstive Trustee- Treasurer appoint Marth 2021 Co-optstive Trustee Cowtative Trustee- retired March 2021 )minaled by EppÉng Forest District Council Nominated by Epping Fce$l District Council Nominated by Essex cnty Council Nominated by Essex County Council Nominated by EppiThJ Forest District Council Co-optsb've Trustee- appointed June 2021 Custodlan Trustee Epping Forest District CowKil Civtc Offices H3h Street Epping. Essex CM16 48Z Audlto Haslws Chartered Accounlants & Stattiw Audi Old Station Road Lght0. Essex IG10 4PL Bankers Barclays Bard( P 183 HNJh Street Epping. Essex CM16 48H Investm•fit Advlsors Iter Chewot Ltd Senate Hose 85 Queen VKtoria Street Lorthn EC4V 4AB SollcRors FoskelL Ma. Gadsty & Hewj 181 High Street Epping, Essex CM16 4BQ Page I

Grange Fami Centre Trust Report of the Trustses For the Year Ended 5 April 2021 Grange Farm The Managing Tnjstees present Ihetr rewrt and the finanual sLments for the year ended 5 April 2021. The trLtstees who have served during any part of the year and up to the date of this report are Sel out on p8ge 1. The fin8nclal statements have been prepared fft acts)rdance with the A(inlIng Policies set up in Note 1 to the accounts and compty with the Charity's govemiThJ document. the Charit Act 2011. and the Accounting and Reporbng by Charities.. Ststement of Recommended Practice applieable to Charities kveparir¥J their accounts in accordance wtth the Finartcial Reporting Standard for Smaller Entiknes. Governing document Grange Farm Centre Trust fThe ChariW) k8 administered and managed subject to and in confomity with the provisions ofa Scheme dated 25 September 1984 wknich was on 5 September 2019 {'The Scheme") approved and established by the Charity Commission. Object of the charity and are8 of nerrt The object of the Charity is lo prowde or lo assist in the provision of facilibes for recreation and leisure-timo 0upatiOn for the benefit of inhabitants of the area of benefit in particJJlar and the public generally with the object of improvin9 the condit•?ns of lrfe of the said tnhabitants. The area of benefit 15 The MetrOltan Police Distrirt and such part oflhe dislrid of Epping ForesL in the County of Essex. as Is not included in the said Police District. Public benefit statemenl The TnJstees are mindful of the need to meet ts Public Benefft requirement and have been made aware ofthe guidance given to Trustees by the Ch8rity Commi8Storb. They consider that the onus upon them lo meet the Public Benefit requirnent is distharged ty. al The proVisn & maintenance of the sile at GrwJe Farni. Chigwell, Essex. for recreation and leisure time occupation for the benefit of the public. bl The provisb)n of grants to qualifyiThJ C¥ganisati within the area of benefit. cl The giwng of illustrated lalks on Ihe history WKI cfftnt &tsvits al the gte to I81 groups & organisations. The sits al Chi9well provides tha folbwhvJ: Sw)rts fields A Pawlion which Incl two u)mmunty ho11s and an InterelatiOft Centre fThe Pavilion.). Meadow lartds wth swale. banCIng pond. and w1dfi0[ meadows. Part of Roding Valley Nature Re$e fRWR"}. descrtbed as a"Local Nature Reserve" in accordance th S21 National Parks & Access to the CLNJntyside Act 1949. is managed on behatf of the Charity by Essex Wikllrfe Trust fEwf) under a 25 year management agreement dated 16 March 2011. The Pelican Playground for young children. Over the past few years. the Charty has planted over metres. 1CQ metres in this year. of new hedgerows with plants provided by The Woodland Trust and planted by local volunleeTS Tnte0s The Scheme provides for 9 Managing Tntstees made as folkyws: 4 Co-optative Managing Trustees. 5 Nominative Managing Trustees. The Co-optst6ve Managing Twstees are appoint by the boty ofTrustees for a temi offive years. The NominatNe Managing Trustees are appointed as lollows: 3 by Epping Forest District Council for temis of 4 years 2 by Essex County Counal both for 8 temi of office endir#J on the date of the app)tntment of thelr successor5. Paee 2

Grange Farni Centre Trust Report of the TteeS For the Year Ended 5 Aprll 2021 Grange Farm On appointm8nt eath Trustee Is provided with a-starter conlainiNJ a fuN paeknge of docuTrts and from time to time receives education and trainin9. MANAGEMENT OF THE TRUST During the year the Trustees, as a body. met on six occasions. Throughout the ye8f Trustees received reports from working sub-committees creat&J lo deal ¥ith SFecific issues. These sub-committees comprise.. 1. Grange Fann Site Managemènt Committee ('GFSMCry The membership of this committee is: C B Scrutton - Chairman J Salim- TasUrer R W Church R Morgan Mr M Vance T N Johnson (ex-officio) R Draper- Site Manager lex-offiw} The remit of this Commiliee is to.. Oversee the Management of18TrJ and premise5 at Grange Farm hdd within the Charity as dlrected by the Managing Trustees Implement. maintsin, and monitor the oreration71 and c3Pito1 budgets as 8pproved by the MargIng Trustees Provide recommendations to the Managing Twstees from time lo time The commiitee meets monthty and receives reports from the Site Manager and where appropriate other sources. Minutes of all meetings are cirojlated to all Managing Tnjstees. 2. Flnance & Investment Committ The membership of thks commiltee is: J Salim - Chaimian C B Scrutton R W Church M Vance V Metcaife T N Johnson lex4thC) The remit of this committee is to: To oversee the ffinances of the Chaity and set FInaral Control Poliaes for approval by tho body of Twslees. To receive the n)nIhty valualion preped fmm information prowded by the Investrnent Manager. To receive the quartedy management &counts and report to the ManIng Trustees. To receive the Annual Report and AcCrts reNryew aTrJ reoynmend to M8naglng Trustees for their approval. To eetve 8 revenue caFital budget for the folkn*ing year and recommerKI to the Managing Trustees for their approval. Oversee investments ol the Charity for growth and income. Provide regular reports lo the Managing Truslees w invesknenl perfomiance. Provide recommendati$ to the Managing Trustees for the appointment of Investment Fund Managers & maintain relationships wih appointed Inveslment Fund Managers. Promde 85surances lo the Managing Twslees on corrformity to Fyevailing Financial, TaxatK)n and Charity Commission Regulation5. Page 3

Grange Farni Centre Trust Report of the Trustees For the Year Ended 5 April 2021 Grange Farm The committee meets at least 4 times exh ar and Minuks of dl Meetings a (irculaled lo Managing Trustees. 3. Grants Comrnitteo The membership of this committee 15". T N Johnson P Minolelti The remit of this commlttee is lo: Consrder grant appltcalions and ensure that these cOmY the area of ben8fft ar objects of the Charity. Investigate applutions and make recoMmeIatiOnS to the Managing TnJslees at Iheir quarterly meelings. Report on follow up visits as and hen appropriate. The committee meets at kast 4 times each yw and Minutes of all Meelings are circuld to Managing Trustees. 4. Govornance and Future WlOn Committ•e The membership of this committee T N Johnson- Chairman P Minoletti J Salim Cllr M Sartin M Vance V Melcalfe R Draper- Site Manager {exdficiol The remit of thSs &)mmittee is to: Keep govemance for the TTU5t under regular review. ReguLgAy review Charity Commisgon A23 Written Poltcies and additional [lICIeS required by insurers and to ensure Ihe Charity meet he81th and Safety and other legal requirements. Arrange Feriodic traiThng Semina for Trustees. Prepare and peric4Jicalty review 8 Future Vis#)n Plan. The committee meets at least 4 times each year and Minutes of all Pleen9$ are arcJJlated to Managing TnJstees. In addition to the above the Charfty Is reprnted on the following committee5: Roding Valley Nature ReseTve-Management Committee: C B Swtton represents the Charity on the Management Ccffimittee of the Reserye. The remit of the representative is: To represent the Charity der Ihe Management Agreement dated 16 Marc*¢ 2011 referred to above. To attend meetings ofthe Management Committee arnl other Grtyjps and to report to the qijartedy meetings of the Managing Truslees. Grange Fami Football Development Group: The Charity Ch8imian and the Slte Manager currentty represent the Charity on this Group. The aims of thÈs commrttee a. Page 4

Grange Fami Centre Trust Report of the Trustees For the Year Ended S April 2021 Grange Farm To manage and Cyr1n8Ie the planntng, developmenL implementation, maintenance. monitoring and evaluation of Ihe Grange Fami Foolball Project facility. To ensure the faulity al Grange Fami achieves its fvll potential 8nd impact on the local football communty a1 becomes a centre for football acbmty. To ensu the targets set Fn the Football Devekjwent Pian we achieved. The remit of Ihe repSentstives is: To represent Ihe Charity at Ihe quarterty meetings. To report to the quartety meeting5 of the Managin9 Tntstees. REVIEW OF THE YEAR . Site at Grange Fami. Chigwell During the year ended 5 April 2021 the Trustees agreed to the following improvements at the Grange Farm Site: a) Replaeemenl of 8 GrourKI Source Heat Pump. h¢ywever. this not cornpted due to COVID 19.. b} A community Garden wthich is maintained by volunteers under the supeYVis of Voluntsry Action Epping Forest. to whh was ajded a greenhouse. During the year, malnly due to Covid 19 Ihe Trustees took the deasion to keep the very popular Pelican Playground closed until legislation allowed it lo be reopened. As a result of the COVID 19 pandemic the Twstees ftAbwing govemmenl advKe closed the pavilion building and slopped all organised actiwlies on the sile. However, Roding Valley Nature Reserve 8nd Chigwell Me*Jows remained open for the public to use providing they fotlowed to Soci81 Distsncing guidelines. The operation of the site is cOndted by Grange Farm S$ Centre LÉmited and Chigwell Meadows Limited. l)oth companies being Whol OTred by the Ch8rtty. FINANCIAL REVIEW . R¢strictsd Funds Restricted Fun(ts are those subject lo special condith)ns 4xposed by the Scheme. The Managing Trustees believe the followng.. Fund A- Comprises approxlnatety 25 acres of land to the Ncth of the M11 motorway to be preserved and maintained as an open space for the use and bfit of the inhabitants of the area of benefit. This land fomis part of Roding Valley Nabjre Reserve. Fund B- comprises approximatefy 68 acre5 of land vthich has been restored and upm which The Pamlion. the children's playground and car parks have been C$tructed. Fund C- comprises pftxeeds from the sale of rxopety whKh have been irNesled for the benefit ofthe Ch8rity. The income from the above funds form part of the Unrestricted Inc4Jme ofthe Charity. On 1 August 2016. the Charity entered into a S106 agrent Under Ihe temis of the new agreement the Charity received the folbwing sums: _ Sports Field and PalIOn Furxl Opert Spaces Fund AC$5 Way Fund £913.000 £401.000 £101.000 All these Funds are considered Reslricted Funds to be spent for the wrwjse designated. In the year, the value of the Charity's inNEStment portfolh) incxeased in walue in line market conditions by .611.845 {2020 decreased by £1.W.4001. Page 5

Grange Farm Centre Trust Report of the Trustees For th• Yèar Ended 5 April 2021 Graiige Farin Following legal advice sought by the Trustee5. ihe Charity was athsed thal as part of the investment portfolio Consisted of Unreslricted Funds a proportion of gainsllk)sses) on p)rtfolio value 8nd 8 proportion of Investment Manager5 fees sIld te attrthted to Uryestricled Funds. Unrestrlcted Funds The Managing Trustees believe that all other fuTrJs are unrestri¢teO funds. During the year, the Unrestricted Funds had a surplus of £265.3eKI {2020: deftcll £85.748) mainly as a result of the movement in the value of Vestrnents in line with market nditiOnS Applications for grants were recelved dealt with re5ulliThJ in awards totalling £67.0 to 12 applicants 12020 £50,279 to 21 applicants). All awards were made in acCCdaTrCe wih the Charity's parameters for grants. Details of the recipients are sel out bebxi: Grants approved in the year. W London Action for Children Grove Adventure Playground Islinglon 8oat Club Epping Eagles Explorer Scouts Unit Ongar Community Sports Club London Wildlife Trust Lamboume End Outdoor Centre Epping Playground Associ8tion The Ahoy Centre The Copped Hall Trust Voluntsry Action Epping Forest The Avenue Lawn Tennis Club Investments Quoted investments were held by Quiller Chewol Ltd roullter Chev¥)t? as their Investrnent Managers The total retum target for the investmenl portfolio has been set al infiation plus 3% p.a. net of fee5. This implies a nominal target of 5% p.a. assuming the Bank of England's official 2% target for CPI inflation. For the financial year 2020-2021. the income target was £313.600 compared to aclual relum of £486,586. For 2020- 2021 Ihls has been sel at £420.OtXI. The Twstees wsh to be resPte investors therefore the Investment Manager is expected lo take account Enwronmentsl. Social and Govemance IESG} issues in their investment analysis and decision-making processes and eThJage w7th company management where approwiate. These objects are monitored regulady by the Chanty's Finance arKI Investrnenl Committee. Inveslmgnt risk The Managing Trustees appointed Quilter Chewot to be investment thisers to Ihe trust under S.11 of the Trustees Act 2000. Quilter Cheviot manage the funds with a single management team. FREEHOLD- GRANGE FARM. CHIGWELL ESSEX As at 5 April 2021 the Charity own5 the freehold of the site at Grdnge Farm. Chigwell Essex of approximately 93 acres. fitle to the land is vested in th8 Custodian Trustee berefit of Ihe Charity. Page 6

Grange Farni Centre Trust Report of the Trustees For the Year Ended 5 April 2021 Grange Farin 25 acres of18nd to the North of the M11 motorway is to be preseNed and maintsFned as an open Space for the use and benefit of the inhabitants of the aa of benefrt This land fomis part of the 160 acres Roding Valley Nature Reserve {RVNR'I described as a'Lc¢al Nature Reserve" in accordance th S21 National Parks & Access to the Countyside Act 1949, RVNR joinuy Own with Epping Forest DC and comprises the largest surwving a3 of traditionally managed river-valley hatxtal in Essex and follows the River Roding. Part of the site comprises a Site of Special Saentrfic Interest ISSSl} in accordan with the ¢itslK)n fmm England Nature dated 1987. The reserve is managed by Essex Wildlife Trust under Ihe govemance of a management agreement dated 11th March 2011. which is revie%%*d by a management Committee. The balance comprises approximatety 68 acres of laThJ has been rest1 and uwn bthich The Pavilion sports facilities. a pxjnd. swale wtih wil(ffiower me8dLYW. 8 Children's playground and car park5 have been constructed. The sts facililies a primarfty used by ColebrcK)k Royals Foolball Club I"CRFC"l under the lerms of the Football Foundation grant of August 2(K)9 prowding for some 32 teams which includes 2 girls leams,1 veterans. team and an Irfeased number of under 7 teams. In addition. CRFC are parbcipating.in"Soccer 6", a scheme for 6 year olds lo play in house games getting reaty for league football when they reach age 7. Over 100 chlldren partlCiP8te in a Football School each Saturday and for 2 weeks in the summer and 8ubJmn. CRFC have a formal agreement wth Leylon Orient FC lo give local children a roule inlo a professional club 8y S April 2021 fourteen {2020: fourteen) community groups were u&ng the Community Halls. In addition. the halls were used. ere govemment restridion5 allfftd, by the local community for family gather¢ngs and functions. The building is Capab of being the base for IrTeasing numbers of school children from local schools attending classes njn in the year by Essex Wildlrfe Trust. kniever. due to Covid restrictions this has not taken place in the year. A programme of themed actiwties is usually run for children and adults throughout the year, such as caterpillar dub5, junior rangers. dawn chonJs. frying awareness and an Easter egg hunt bul have all had to be suspended due lo the restrictions. The tharity fvnds an part-time Recreational Officer to assist ilh these aCttIeS. Over the years the charity has developed a partnership with Ace Athities part of Voluntary Action Epplng Forest whrch prowdes at Grange Farm multi activrttes for people with leaming difficulties. It offers a range of opportunities which include gardening. self-calering. conservatiorb. MC. and arts & crafts. Thts has continued on a redled basls aring in Mind the la1 distsncing ationS. MANAGEMETrrr POLICY Operational responsibility for the playing fiekls and The Pavilion vest wilh GTarvJe Farm Swrts Centre Limiled ("GFSC"l a company wholly owned by the Charty. As agreed with the Charty Commission on 19 September 2018. 8 lease was granted by the Trust for GFSC for five years al a market rent of £30,000 per annum. Under the ternis of the lease, GFSC can reclaim unrecovered expenses from the CharTty. In the year en¢Jed 5 April 2021 GFSC claimed £245.000 {2020.. £285.0(KI). Operational responsibility for the mead¢J•V land5 swale and pd vest with ChigAell Meadow$ Limiied {"CM') company wholly owned by the Charity. On 19 September 2018. a lease was gTrnled by the Trust lo CM for five years at a peppfyrcom rent. Under the temis of the tease CM can redaim UnrecoVed expense5 from the Trust. In the year ended 5 April 2021 CM d8imed £25.00012020: £25.(M)01. Under the terms of the S106 agreement the freeholder of the adianI housing developmenl is required to contribute towards the maintenare of the pond and swdle. In the year ended 5 April 2021 CM re¢eived £7.044 12020: £7.044). The operation of the tsvo subsKhary companies is mltored by the GFSMC on behalf ofthe Charity. thJring 2021122. the Trustees will look to reapprove a Financial Controls Polw lo provKJe a slructure in the Wdy the Trust operales arKI to protecl ts Trusfs assets, fou¢)1n9 thice the Fin8rKe & Investment Committee. The Charity has also developed 8nd integrated a series of pdicies ftr the conduct of skff and visitors at the sile. These are kept under regular review by the Chariws GcNeman¢e & Future Wision C(Mnmittee. Page 7

Grange Farm Centre Trust Report of tho Trustoos For the Year Ended 5 April 2021 Grange Fa riii RESERVES POUCY The Managing Trustees considets that the cuThenl level of Ihe ReslrKled Fund constitutes a strong reserve and its maintenance in real temis is a priority of the Managing Ttees. The Managing Trustees consider Ihal the current levd of Ihe Unre5ts1ed Fund is necessary in view of Ihe gxpected excess of experKlilure over wome for the fOeeable fiJbJre. THE FUTURE The fijll impact of COVID 19 on the operalion of the charity and the Gran9e Fami gte has b8en significant. Whist the building and Pelican Playground remain shut Ihe Roding Valley Nature ReseNe and Chigwell Meadows hove seen greatly enhanced number5 of visitors which is welcome. The Trustees are seekiro planning pennissron for a groundsman's IK)use in view of the irKreased use of the site requiring 24 hour attendan on sile of staff. The Managing Trustees continue to look at ways of inthg the publr gerlty in the use of the stte at Chigwell and using their expertise to asslst other similar sites in the area of tenefiL Despite the reduced level of income caused by COVID 19 the Managing Trustee5 continue to accept and consider grant applications from qualfying bod*s from wihin the area of berffit Grants wll continue to be paid wlth an emphasis on smaller applicants. Page 8

Grange Farni Centre Trust Report of the Truslees For tho Year Ended 5 April 2021 Grange Farm STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDrfoRS In so far as the trustees are avRre'. there is no relevant audit infomiation of whth the charity's auditcrfs a unaware: and the Injstees have tsken all steps that they ought to have taken to make Ihemselves aware of any relevant audit infomiation and to establish that the audilovs are avrdre of that information. STATEMENT OF TRUSTEES, RESPONSIBIUTIES The Iruslee5 are SPOnsIble for prepariThJ the Annual Rewl and Ihe FinanciJ Stslements in accordance with applicable law and United lfjngdom Gereralty Accepted AUnting Practe. The law applicable lo charities in England and Wales requires the trustees to prepare financial ststements lor each financial year which give a true and fair view of the chariVs financial activities during the year and of its financial posibon at the end of the year. In weparing finarKial statements giwng a true and fair view. the trustees are required lo.. select suitable accounting FKJlicies and then appty them consistenuy. make judgements and estimates that are rthgsone prudenL and prepare the finan01 slatements on Ihe go concem baS unless it is inappropriate lo presume thot the charity wll continu8 in operation. The trustees are responsible for keeping proper accounting records whh disdose lti reasonable accuracy at any lime the financial position of the Charty and enable them to ensu thal the financial statements comply with the Charities Act 2011. TY are also spOnsIble for safeguarding the assets of the charity and hence for taking reasonable stsps for the wevention arKI deteclion of fraud KI other irregularities. On behalf o the t>oard J Worb - Clerk Dale: 0>1 Page 9

��

��
��
��

��

��
��
��
��

��

Date: 27 November 2021

��

Grange Farm Centre Trust Statement of Financial Activlties For the Year Ended 5 April 2021 Grange Farm Unr•stri¢t¢d Restr•¢ted Funds Funds 2021 Total 2020 Total Notes INCOME FROM: Investments Letting Totsl Inc¥)me 430,935 55.788 486.723 30.000 436,120 30,000 460,935 55.788 516,723 466.120 EXPENDITURE ON: Charitable activilies 187.562 572,228 620.340 Ti)tal expendlture 383.366 187.562 572.228 620,340 Net gain$ l{lossesl on inveslment assets 189.091 2.611.845 2.800.936 (1.595.148 Net Incomg 1 {expgndlture) 285,360 2A80.071 1745,431 (1,749,368) Other re¢ognised gains l{losses) Net movemenl in funds 265.360 2A80.071 2,745,431 {1.749.368) Reconciliation of funds: Total funds brought forward 919.188 13,728.946 14.648,134 16.397.502 Totsl funds Caled forw8nl 1.1M548 16.209.017 17,395,565 14.648,134 The notos on pages 16 to 25 folm an integral part of these flnanclal statemènts Page 13

Grange Fam) C•ntro Trust Balance Sheet As at 5 Aprfl 2021 Grange Farm 2021 2020 Fixed Assets Freehold land and buildings Investments Investments in subsidiaries 2.855.864 14.466.714 12 2.981,518 11.525.518 12 17.322.590 14.507.048 Current Assets Debtors Cash at bank 55,937 155.422 $4,681 159,282 Total resources expended 211.359 213.963 Less: CredltOTs: amounts falling due within one year Net current assets 10 140.384 72.877 70.975 141,086 Not a$sets 17.393,565 14.648.134 Funds Restrlcled funds Unrethcled funds 12 13 16.209.017 1.184.548 13,728,946 919,188 T¢)tal funds 17,393.565 14,648,134 The financial statements were apwovgj arKI aUth(sed for issue by the trustees on 27 tWNJ 2021 and signed on its behaw by J Salim Treasu1 Chaimian Dale: The notes on pages 16 to 25 forni an integral part of these financial stalem•nts Page 14

Grange Farm Centre Trust Slatemonl of Cash Flows For the Year Ended S April 2021 Grange Farm 2021 2020 Cash flows from operating activities: Cash generated from operations Not cash (usad in) I provided by operating activitses CF1 {318,8561 {318,8561 525.613 {525,613} Cash flows from investing activities: Purchase of tangible red assets Purchase of fixed asset investments Sale of fixed asset investments Interest and dividends ¢eNed 1975} {28,800) 12.952,989) 114,333.3671 2.814,298 13.940.100 456.231 436.120 N8t cash provlded by {used In) Investlng aCUVS 316,565 14.053 Chang• In ¢a$h & cash equival8nts {note 15) 12.2911 {511,5601 Cash & cash equivalents at 6 April 2020 Cash & cash equlval•nts at S Aprll 2021 210.234 721,794 207,943 210,234 Notes to the SLiloment of Cash Flows CF1- Reconclllation of net income lexpenditurt) lo net cash Ilow from operating activities 2021 2020 Net Income (expenditure 2.745.431 11.749.368} Adjvstmonts for. Nel gainslllosses) on inveslment assets Depreciation charge5 Interest and dNidends re[Wed Decrease I (increase) in debtor5 Increaselldecrease} l in credito Nel cash {uged in) I provided by opu*ing actlvltles {2.8CQ.936} 126.629 (486.7231 29.236 67.507 (318.8561 1.595.148 126.579 1436.1201 {8.4051 53.447 (525.613) The notes on pages 16 to 25 forni an Inlegral part of thgs• financlal statemènts Page 15

Grange Fann Centre Trusl Notes to the Flnanclal Statements For the Year Ended 5 April 2021 Gran9e Farm A¢counting poli¢ies The principal accounting policies are summarised below. The accounting Oicies have been applied consistentty througtrUt the year &KI the prethn9 year. Bas1$ of accountlng The financial statements of the charrty. vhbich is a public benefft entity under FRS 102. havè been prepared in accordance with applicable accounting Standards including FRS 102, the Fin8rKial Reporting Standard applicable in the UK and Republic of Ireland. the Charities SORP (FRS 102) 'Accountillg and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Slandard applicable rn the UK and Republ of Iretand IFRS 102) {effective 1 January 20191 arKI the Chartties Act 2011. The financial slalemenls have been prepared under the historfcal e05t convention as mcKfrfd for the valuation of investment. The financial statements have been prepared to give a Irue and view and have departed from the Charities (Accounts and Reports) Regylalions 2008 onty to the extent required lo provhle a Yrue and fair view.. This departure has invowl folk)wing Accountmig and Reporting by Charities preparing their accounts in accordance with the Fina181 Reporting Standard aWi¢able in the UK and Republic of IrelaNJ {FRS 102} issued on 18 July 2014 rather than the Accounting and Reporbng by CharitS.. Statement of Recommended Praclice effective fvDm 1 April 2005 has since been viithdrabfft. The financial statements are we5ented in sterling and rnded lo the nearest £1. The trustees consKter that there are M material uncertaintses about the Charivs abilty lo continue as going concern. The Trust has two subsidiaries Grange Fami Spcyts Centre rnited and Chigwell Meadows Limited. The Trustees have taken advanlage of the exemption under SeCtiC 139(2) of the Charities Act 20118nd have not consolidated the resuhs of tsse subsidiaries. 12. Fund accounting Unrestricted Funds represent income rewved for use at the thscretion of the trustees in further8nce of Ihe general objectives of the Charity. Restricted Funds are those sut4ect to special corKlibons imposed by the wider. The restrictions are binding uwn the trustees. 1.3 R¢stri¢ted funds Are formed by fve amounts. Fund A- comprises approximately 25 acres of Eand to be preserved and maintained as an open space for the use and benefit of the inhabitants of the area of benefft. This land fornis part of the Roding Valley Nabjre Reserve. The trustees have rAaced a value of £100 on this land. FurKI B- comprises 68 acre5 of nd o¥Er ¥thich comprises Chigwell Meadrms, a pond and ale. a Children's Playground. sports ffeld and communty garden. together wth a P8wlionllnterprelation Centre for the use and benefit of the inhabitants of th8 afea. The trustees have placed a value of £5.OCK) on this larKI. Page 16

Grange Farni Centre Trust Notes to the Flnanclal Statgments For the Year Ended 5 Aprll 2021 Graiige Fariii The balance of the Reslricled Fund C8PTtal has been invested in trust for the Chartty and can only be applied by the truslees in purchasing of other land and buildings to be settled upon trust for use in the object of the CharÈty. As such the Trusl&s believe this is a Restricled Fund. There are three other FurKls recVed under a S106 Agement for SFeufic purposes. These funds are Invested in trust for the Charity. The inc(Kne capit81 growth less investment fees Is available to a551St Ihe Unresthcted FLmd in maintsining the specific areas named in Ihe respective Funds. the tiles of which are:_ Sports Field & Pavillon Fund Open Spaces Fund Access Way Fund In vlew of the re5trictton in the vray the Funds may be used. the Trustses believe that these are Restdeled Funds. IA Unrestricted funds Comprised the income from Restricted Fund B and fr(rfn otlw Iorne realised in the year, vthich is utilised lo provide or to assist in the provtsion of farylibes for recrealion and leisure time occupalion for the benefit of the inhabitsnts of the area of benefiL lncorne All incoming resources 8re irlUded in the statemenl of financial activities when the charity is enliued to the income and the amount can be quantrfied with reasonable accuracy. The following specifiG policies are applied to particular categories of income: ITKome from investments is wKluded in the year in wthith it is reLeivabk. Income from London Square Limited is induded in Ihe year to it relates. Income from rent from Grange Fam SFh)rts Centre Limited is induded in the year to which it relatss. 1.6 Expendlture Liabilities are recthjnised as expenditure 8S scx)n as there is a legal or constructive obligation committing the charity to Ihal expenditure, it bs probable that a transfer of economic benefits wll b8 required in setllemenl the amount of the obligation can be measured rellay. Expendilure is accounted for on an accruals basis and ha5 been classffied headings that aggregate all costs lated lo the category. Where costs cannot be direclly attributed lo particular head9$ they have been alk>caled lo activities on a basis consistent with the use of resources. Page 17

Grange Fami Centre Trust Notes lo the Financial Statements For the Year End¢d 5 April 2021 Grange Farin Grants are included as expenditure in the perioj for the avrdTd is given. Details of recipients of grants paid ale listed in the Trustees ReporL Subsidies to furKI the excess expendIre of the IM) sUbsirfnes are sh¢)wn as a o)sL Govemance costs are those costs relating lo the govemance infrastructrjre allows the charity lo operate and lo generate the infom)ab'on requifed for public actountability. Support costs comprise those costs relating to the direct management and general running of the charity. They are allocated acxoss the expense categories on a basis which reflects their effective contribution to that expense category. 1.7 Tangible red assets Tangible fixed assets are stated al cost les5 accumulaled depretiati¢)n and any impairment losses. Depreaalion is provided at rates calculated to wrrte off Ihe cost less residual value of each asset OV its exp8Cted useful life. as follows: Freehold land Freehold buildings Playground and (3r parks Not deprecialed Between 2% a1 10% per annum to reflect the useful lrfe of the buiklings 10Y• per annum lo fIe¢t the useful lrfe of the facility 1.8 Impalnnent At each Balance Sheet date. the buildings. pkyground K1 car parks are a5se5sed to determine if there are indicators that the assets may be impared in value- rf Ihere are such indicators of impairment. then a comparison of the assets. carrying walue compared to their recoverable amount. is undertaken. Any excess over the reVerable amount is recognised as an impaim7ent loss and tharged os expenditure in the ststement of Financial Actrvib'es: the carrying value is reduced appropriatsly. 1.9 Investments Investments are measured intlialty al st and subsequenyy at fair value {their market value) at the balance sheet dale. The SOFA includes the nel gairts and k)sses arising on revaluations and disposals IhroughoLrt the year. The trustees adopt a cautious invesknent policy so as to minimise risk. Investments are monitored and reviewed by trustees on a regular basis. 1.9 Cash at bank and in hand Cash at bank and in harKI indudes bank current xcc*Jnts and bank deposit accounts wth no wthdrawal limitstions. 1.10 Creditors Creditors are recognised where the charity has a present obligation resulling fffjm a past event that will result in the transfer of funds to a third paty and the amount due to settle the obligation can be measured or estimated reliably. Creditors are reoognised at their settlement amount. 1.11 FTnanclal Instruments Financial assets and financid 1kalI11eS are recLzed in Ihe statement of financial wsitlon vthen the Charity becomes a party to ts contractual provi5ion5 of the in5trumenL Tr8de {including rentsl) and other debtors a1 crediloTS are dassrfied as basic financial instruments and measured at inrtial recognition at transaction price. Debt8 and credilors are subsequenty measured 8t amortized cost using the effective interest rale method. A provision is established en there is objective wdence that the Charity will not be ab to c(Alect all amounts due. Page 18

Grange Farm Centre Trust Notes to the Financial Statements For the Year Ended 5 April 2021 Grange Farm Cash and cash equivalents are c18ssffied as basic finanoal instruments and comprise cash in hand and al bank. short-lem) bank deposits wlh an origin81 matuiity ol three months or less and bank overdrafts which are an inte91 part ofthe cha11t$ managwnent. Unrestricted Funds 2021 Restricted Funds 2021 Total 2021 Total 2020 Investment Income Bank interest receivalJe and cwrency gairL% Investment interest UK Government stocks Fixed interesl securities UK equities Overseas equittes Realtocation 137 137 405 112 16,830 36,706 180,741 201,326 (55,7881 430,935 55,788 55,788 486.723 436,120 L•ttlng Incoma Grange Farm Sports Centre Liwiled London Square Limited 30.000 30.000 30,000 30,000 Charitable activitles Grants payable Support costs (note S) 67,gX) 316,766 67.900 504.328 572,228 50,279 570.061 620,340 187.562 187.562 Page 19

Grange Farrn Centre Trust Notes to the Financial Statsmonts For thg Year Ended 5 Aprll 2021 Grange Farni Analysis of supwt ¢osts Totsl 2021 Totsl 2020 Funds Funds Audit fees Clerks management fees Bank charges Legal and professional fees Investment management fees maintenan Cost Roding Valley Nature Reserv8 Grange Farm Sporis Centre Ltd Chigwell Meadows Limited Depreciation- buildings car parks and playground Trustee traning exPee$ 7.770 12.720 7,770 12.720 9.090 25,440 150} 5.500 73,533 1.639 4.412 1,639 .933 19275 19,275 18.878 245.C#XI 25.oc 245.000 25.000 285,000 25,000 126,629 126.629 950 504.328 126,579 1.091 570,061 316,766 187.562 During the year ended 5 April 2021. no Trustee expenses Trove been incwred12020- £NIL). Page 20

Grange Farrn Contro Twst Notes to the Financial Statements For the Year Ended 5 April 2021 Graiige Farm Tanglble fixed assets Restricted Funds Total Total Funds Buildings. ¢ar Freehold parks and Land Playground 2021 2020 Cost At 6 April 2020 Additions 5.100 3.570.856 975 3.575.956 975 3.547.156 28.800 3,575,956 At 5 April 2021 5.100 3.571.831 3.576,931 Ac¢umulated depreciation At 6 April 2020 Provided in year Al 5 April 2021 594.438 126,629 721.067 467.859 126,579 594.438 126.629 721,067 Net l>ook At S April 2021 5.100 2.850.764 2,855,864 2.981,518 At 5 April 2020 5.100 2.976.418 2,981,518 3.079,297 Investments Totsl Reststed 2020 Total 2021 Valuatlon Al 6 April 2020 Additions Disposals Revaluation 11,474,566 12,676,451 2,952,989 14,333,363 12.814.298} (13.940.100} 2.800,936 1.595.148 14.414.193 11.474.566 At 5 AFNII 2021 Investments- Capital account 52.521 50.952 Totsl value at 5 April 2021 14.466.714 11.525.518 Investments are hekl within FKNOolios mged in the UK. Historical cost as at 5 April 2021 12.988.544 12.663.862 Historical cost as at 5 April 2020 12,663,862 10,258.319 Investments Indude no securities wth 8 market value of 5% or rrwe of the total prfolio. PaEe 21

Grdnge Farni Centre Trust Notes to the Financial Statements For the Year Ended S April 2021 Grange Farm Imiestments in subsidiaries As al the 5 Aprll 2021. the Trust had two subsidiaries12020: Iwo)". Grange Fam Sports Centre L1mFt- 100% cfwned by the Trust. The eompany is limited by guarantee. Chigwell Meadows Llmrted- 1% ovrt*d by the TrusL The compaw is limited by guarantee. ors Total 2021 Total 2020 IrKome tax Grange Fami Spotts Centre Ltd Olher debtors 2.950 2,950 2.9SO 11,326 40.405 52.987 52.987 55,937 55,937 54,681 10. Credltors: amounts falling duo within one year Total 2021 Total 2020 Chigwell Meadov+E Limited Grange Farm Sports Centre Ltd Other Creditors Expense creditors 36,500 52,161 42.800 8.923 11,5 52,161 42,800 8.923 15.800 45.577 140.384 140.384 72.877 Page 22

Grange Farm Centre Trust Notes to the Financial Statements For the Year Ended S April 2021 Grange Farm 11. Analysis of net assets between funds Not ¢uTrent Totsl funds Ass•ts Inv¢sfm¢nts Restricted Funds Fund A Fund B Sports Field Pawlion FUNI Open Spaces Fund Access Way Fund Unrestrictfyd Fund$ 11x1 2.855,764 100 14,359,317 1,188,738 522,771 138,091 1.185.848 17,394,865 11.503.553 1.188.738 522,771 138.091 1.113.573 14.466,726 72.275 72.275 2,855,864 In the opinton of the trustees. suffiCnt resources are hekl in an appmpriate form to enthe each fund to be applied in accordance any restrictions. 12. Restrfcted Funds At At Capital Gainsl Outgoing (losses) resources S April 2019 Incoming 5 April 2020 Restricted FuTrJ A Restricted Fun(J 8 Sports Pavilion Fund Open Space Fund Access Way Fund 100 100 12.227.500 964,882 424,367 112.097 13.728,946 13.752.027 1,049.965 461,768 121.976 (1.336.345) (111.239} {48.899) 12.917 11,509.4001 {188.1821 (5.1281 12,2541 595 31,284 13.752 3,633 48.669 15.385.836 {196.1591 At At Capltal Gainsl (10s5es) S April 2020 Incoming resources Outgolng resources S April 2021 Restricted Fund A Restricted Fund B Sports Pavilion Fund Open Space Fund Access Way Fund 100 {180.576) 14.359.317 (4.491) 1.188.738 {1,974} 522,771 521 138.091 (187,562) 16,209,017 12.227.50J 2.312.393 192.487 84.614 22.351 2,611.845 424.367 112.097 13,728,946 15,764 4.164 55,788 Page 23

Grange Farni Centre T1 Notes to the Financial Ststements For the Year Ended 5 April 2021 Grange Fariii 11 Unrestri¢ted Funds At A* Capital Gainsl (losses) 5 Aprll 2019 Incomlng resources Outyolng sources 5 Aprfl 2020 Unrestrlthd Funds 1.011.666 417.451 185,7481 {424.1811 919.188 At At Capital Gainsl Ilossesl SApril Incoming 2020 resource5 Outgoing rosources 5 April 2021 unrestricted Funds 919.188 460.935 189.091 (384.666} 1.184.548 14. Related party transactlons Grange Fami Sports Centre Limited leases Ihe playing fields and Pavi111nterWe18I10n Centre for £30.000 (2020.. £30.0001. Induded within maintenance costs És £245.(M)012020: £285.0(M)) p8y8ble to the subsidiary for operational cos15. The amount due to Grarvje Fami Spts Centre Lrmited as al the year-end £52,161 (2020.. £11,326 due from Grange FaTm Spts Centre LimFied). Chigwell Meadows Lime leases the meadovAaThJs swale and p)nd from the for a peppercom rent. Included wtlhin maintenance costs is £25.000 {2020 £25.0001 payabte to the subsidiary for operational cosls. The amount due to Chigwell Meadov•S Limited as al the year-end 5 £36,500 {2020: £11,500). 15. Anatysls of changes In cash & ush equivalents At 5 Aprll 2020 Cash flows Al S Aprll 2021 Cash & Gash equfval•nts Cash al bank Investment cash 159.282 ,952 210,234 {3,860) 1.569 {2.291) 155.422 52,521 207.943 Page 24

Grange Fann Centre Trust Notes to the Financial Statements For the Year Ended 5 April 2021 Graiige Fariii 16. Prlor year statgment of fInasl activit Unrestricted Restrlcted Funds Funds 2020 Totsl 2019 Total INCOME FROM: Investments Lettings Other 387.451 30.000 48.669 436,120 30,000 3.148 163,333 Total income 417,451 48.669 466,120 519.526 EXPENDrruRE ON: Charitable iwties 424.181 1%.159 620,340 614,376 Totsl expenditure 424.181 196.159 620,340 614,376 Nel oainslllosses) on investmw assets Net rnovement in funds 185.748) (1.509.400) (1,595,148 630,543 (92,478) 11,656.890) 11.749.368) 535.693 Reconciliation of funds: Total funds brought forward 1.011,666 15.385,836 16.397.502 15.861.809 Total funds carrled forward 919.188 13.728.946 14648.134 16.397.502 PaEe 25

�������������������������

�������������������������������������������������������������������������

��������

������������������

�������������������������������������

�������������������������

������������������������������������������������������������������������� ������������

������������������

�������������������������������������������������������

�����������������������������

��������������������������������������������������������������������

�������������������������

������������������������������������������������������������������������� ������������

������������������

��������

Date: 27 November 2021

��

��

��

��

��

��

��

��

��

��

��

��

��

��

��