Grange Farm
Charity Number: 285162
Grange Farm Centre Trust
Trustees, Report and Financlal Statements
Forthè Year End9d 5 April 2024

Grange Fami Centre Trust
Contents
Grange Farm
Page
Legal and adminislralive information
Trustees report
Auditors, report lo the Iruslees
10-12
Statement of financial activities
13
Balance sheet
14
Cash flow slalemenl
Notes lo the financial slalemenls
16-24

Grango Farm Centre Trust
Legal and Administrative Information
Grange Farm
Charity name
Grange Farm Centre Trust
Charity number
285162
Re9lStered Office
181 High Sireel
Epping
Essex CM16 4BQ
Clerk to the Trustees
Ms Laura Cleasby
Trustees
Mr T N John50n
Mr J Salim
Mr P Minolelli
Mrs M Sartin
Cllr R W Church
Cllr M Vance
Cllr R Morgan
Mrs V Melcalfe
Cllr L Burrows
Cllr L Scott
C(Foplalive Trustee- Chairman reappointed March 2024
Co-oplalive Trustee- Treasurer
Co-optalive Trustee
Nominated by Epping Forest Distriot Council reappointed June 2023
Nominated by Essex County Council
Nominated by Essex County Council - retired May 2024
Norninated by Epping Forest Oistrict Council reappointed June 2023
Co-oplative Trustee
Nominated by Epping Forest Distri¢l Council appointed June 2023
Nominated by Epping For8sI District Counal appointed May 2024
Custodian Trustee
Epping Forest District Council
Civic Offices
High Sireel
Epping, Essex CM16 4BZ
Auditors
Haslers Chartered Accountants & St81ulory Auditor
Old Slalion Road
Loughlon, Essex IG10 4PL
Bankers
Barclays Bank Pl
75 High Sireel
Brentwood, Essex CM14 4RP
Investment Advisors
Quilter Cheviol Ltd
Senate Hose
85 Queen Victoria Street
London EC4V 4AB
Solicltors
Foskell, Marr, Gadsby & Head LLP
181 High Street
Epping, Essex CM16 4BQ
Page I

Grange Farm Centre Trust
Report of th¢ Trustees
For the Year Ended 5 April 2024
Grange Farni
The Managing Trustees present their report and the financial statements for the ye8r ended 5 April 2024. The
Iruslees who have served during any parl of the year and up lo the dale of this report 8re sel out on page 1.
The financial slalements have been prepared in accordan￿ with the Accounting Policies sel up in Note 1 to the
accounts and comply with the Charity's governing document, the Charities Act 2011, and the Accounting and
Reporting by Charities.. Statement of Recommended Practice applicable lo Ch8rilies preparing their accounts in
accordance with the Financial Reporting Standard for Smaller Enlilies.
Governing document
Grgnge Farm Centre Trust l The Charily'l is administered and managed subject to and in conformity with the
provisions of a Scheme dated 25 September 1984 which was amended on 5 September 20191"The Scheme")
approved and established by the Charity Commission.
Object of the charity and area of benefit
The object of the Charity is lo provide or lo assist in the provision of facilities for recreation and leisur&time
0￿uPation for the benefit of the inhabilanls of the area of benefit in particular and the public generally with the
object of improving the Conditions of life of the said inhabitants.
The area of benefit is The Metropolitan Police District and such part of the district of Epping Forest, in the County
of Essex. as is not included in the said poli￿ District.
Public benefit statement
The Trustees sre mindful of the need lo meet the Public Benefit requirement and have been made aware of the
guidance given lo Trustees by the Charity Commission. They consider that the onus upon them lo meet the
Public Benefit requirement is discharged by..
al The provision & maintenance of the sile al Grange Farm, Chigwell, Essex, for recreation and leisure lime
occupation for the benefit of the public.
bl The provision of grants lo qualrfying organisalions within the area of benefit.
cl The giving of illuslraled talks on the history and current activities al the sile lo local gTOUPS &
organisalions.
The sile al Chigwell provides the following..
Sports fields
A Pavilion which includes two community halls and an Interpretation Centre I"The Pavilion l.
Meadow18nds with swale, balancing pond, and wildflower meadows.
Part of Roding Valley Nature Reserve I'RVNR'I, described as a"Local Nature Reserve. In accordance
with S21 National Parks & Access lo the Countryside Act 1949, which Is managed on behalf of the
Charity by Essex Vvildlife Trust I"Ewf"i under a 25 year management agreement dated 16 March 2011.
The Pelican Playground for young children.
Over the past few years, the Charity has planted over 950 metres of new hedgerows with plants
provided by The Woodland Trust and planted by local volunteers
Trustees
The Scheme provides for 9 Managing Trustees made up as follows..
4 Co-oplalive Managing Trustees.
5 Norllinalive Managing Trustees.
The Co-oplalive Managing Trustees are appointed by the body of Trustees for a term of five years.
The Nominative Managing Trustees are appointed as follows..
3 by Epping Forest District Council for terms of 4 years
2 by Essex County Council both for a term of office ending on the dale of the appointment of their
successors.
Page 2

Grange Farm Centre Trust
Report of the Trustees
For the Year Ended 5 April 2024
Grar)ge Farm
On appointment each Trustee is provided with a °Slarter Pack. containing a full package of documents and from
time lo time receive5 education and training.
MANAGEMENT OF THE TRUST
During the year the Trustees, as a body. mel on six occasions. Throughout the year Trustees received reports
from working SLJb-commitiees created lo deal with specific issues. These sub-commillees comprise..
1. Grange Fami Site Management Committee I'GFSMC'I
The membership of this committee is..
P Minolelli - Chairman
R W Church
R Morgan
V Melcalfe
M Sarlin
L Scoll
T N Johnson lex-officiol
R Draper- Sile Manager lex-officiol
The remit of this Commillee is lo..
Oversee the Management of land 8nd premises al Grange Farm held within the Charity as directed by
the Managing Trustees
lrnplemenl, maintain, and monitor the operational and capital budgets as approved by the Managing
Trustees
Provide recommend21ions lo the Managing Trustees from lime lo time
The committee meets monthly and receives reports from the Sile Manager and where appropriate other
sources. Minutes of all meetings are circulated lo all Managing Trustees.
2. Flnance & Investment Committee
The membership of this committee is..
J Salim - Chairman
R W Church
L Scoll
V Melcalfe
L Burrows
T N Johnson lex-officiol
The remit of this committee is 10..
To oversee the finances of the Charity and set Financial Conliol Policies for approval by the body of
Trustees.
To receive the monthly valuation report prepared from information provided by the Investment
Manager.
To receive the quarterly management accounts and report to the Managing Trustees.
To receive the Annual Report and Accounts review and recommend lo Managing Trustees for their
approval.
To receive a revenue and capital budget for the following year and recommend lo the Managing
Truslees for their approval.
Oversee investments of the Charity for growth and income.
Provide regular reports lo the Managing Trustee5 on investment performance.
Provide recommend81ions lo the Man8ging Trustees for the appointment of Investment Fund
Managers & maintain relationships with 8ppoinled Investment Fund Managers.
Page 3

Grange Farm Centre Trust
Report of the Trustees
For tho Year Ended 5 April 2024
Grange Farm
Provide assurance5 to the Managing Trustees on conformity to prevailing Financial, Taxation and
Charity Commission Regulations.
The committee meets al least 4 limes each year ar)d Minutes of 811 Meetings are circulated lo Managing
Trustees.
3. Grants Committge
The membership of this committee is..
T N Johnson
P Minolelli
The remit of this committee is lo..
Consider grant applications and ensure that these Comply with the area of benefit and objects of the
Charity.
Investigate applications and make recommendations lo the Managing Trustees at their quarterly
meetings.
Report on follow up visits as and when appropriate.
The committee meets al least 4 limes each year and Minutes of all Meetings are circulated lo Managing
Trustees.
4. Governance and Future Vlslon Committee
The membership of this committee is..
T N Johnson- Chairman
P Minolelli
J Salim
M Sarlin
R W Church
L Burrows
R Draper- Slte Manager {ex-officio}
The remit of this committee is lo..
Keep governance for the Trust under regular review.
Regulady review Charity Commission A23 Wrillen Policies and additional policies required by
insurers and lo ensure the Charity meet health and safely and other legal requirements.
Arrange periodic training seminars for Trustees.
Prepare and periodically review a Future Vision Plan.
The committee meets al least twice each year and Minutes of all Meelings are circu121ed lo Managing
Trustees.
In addition to the above the Charity is represented on thg followlng committees:
Roding Valley Nature Reserve.Managgment Committee..
R W Church represents the Charity on the Management Committee of the Reserve.
The remit of the represenlalive is..
To represent the Charity under the Management Agreement dated 16 March 2011 referred to
above.
To allend meetings of the Management Committee and other Groups and lo report lo the
quarterly meetings of the Managing Trustees.
Grange Fami Football Developmgnt Group: The Charity Chairman and the Sile Manager currently
represent the Charity on this Group.
Page 4

Grange Farm Centro Trust
Report of the Trustees
For the Year Ended 5 April 2024
Grange Farm
The aims of this committee are..
To manage and co-ordinate the planning, development, implementation. maintenance,
monitoring and evaluation of the Grange Farm Football Project facility.
To ensure the facility al Grange Farm achieves ils full potential and impact on the local football
community and becomes a hub centre for football activity.
To ensure the largels sel in the Football Development Plan are achieved.
The remit of the represenlalives is..
To represent the Charity al the quarterly meetings.
To report lo the quarterly meetings of the Managing Trustees.
REVIEW OF THE YEAR
Slte at Grange Farm, Chigwell
During the year ended 5 April 2024 the follomng improvements and projects were canied out or agreed by the
Trustees al the Grange Farm Sile..
al Construction of the groundsman's house, fully completed in August 2024.,
b) Replacement of existing lighting in the main building lo LED efficient Iighling,.
cl Ditch remedial works lo divert the main drainage ditch lo avoid flooding risks,.
dl Replacement of swings and other apparatus in the Playground..
el Inslallalion of sliding gale and height reslriclion barrier for the sports pitch car park
The very popular Pelican Playground remained fully open throughout the year,
The pavilion building and all organised activities on the sile also continued as usual throughout the year. Roding
Valley Nature Reserve and Chigwell Meadows had increased visitors from the public.
The new Community Garden, which was opened in 2021, continued lo be very popular with local community
groups.
The operation of the sile is conducted by Grange Farm Sports Centre Limited and Chigwell Meadows Limited,
both companies being wholly owned by the Charity.
FINANCIAL REVIEW
Restrlcted Funds
Reslricled Funds are those subject lo special conditions imposed by the Scherne. The Managing Trustees
believe the following..
Fund A- Comprises approximately 25 acres of land lo the North of the M11 motorway lo be preserved and
maintained as an open space for the use and benefit of the inhabilanls of the area of benefit. This land forms
part of Roding Valley Nature Reserve.
Fund B - comprises approximately 68 acres of land which has been restored and upon which The Pavilion,
the children's playground and car parks have been constructed
Fund C- comprises proceeds from the sale of property which have been invested for the benefit of the
Charity.
The income from the above funds form part of the Unreslricled Income of the Charity.
Page 5

Grange Farm Contre Trust
Report of the Trustees
For the Year Ended 5 Aprll 2024
Grange Farm
On 1 August 2016, the Charity entered into a S106 agreement. Under the terms of the new agreement the
Charity received the following sums..
Sports Field and Pavilion Fund
Open Spaces Fund
Access Way Fund
£913,000
£401,000
£101,(K)O
All these Funds are considered Reslricled Funds lo be spent for the purpose designated.
In the year, the value of the Charity's inve51menl portfolio increased in value in line with market conditions by
£1,486,67312023 decreased by £1,290,834).
Following legal advice sought by the Trustees, the Charity was advised that as part of the Investment
portfolio consisted of Unreslricled Funds a proportion of gainslllossesl on portfolio value and a proportion of
Investment Managers fees should be attributed lo Unrestricted Funds.
Unrgstricted Funds
The Managing Trustees believe that all other funds are unreslricled fvnds.
During the year, the Unreslricled Funds had a surplus of £19,99112023-. deficit of £145,301) mainly as a
result of the movement in the valLJe of investments in line with market conditions.
Applications for grants were received and dealt with resulting in awards lolalling £64,229 to 10 applicants
12023". £54,512 10 13 8pplicanlsl. All awards were made in accordance with the Charity's parameters for
grants. Details of the recipients are sel out below..
Grants approved in the year:
Sunflower Group
Sl George's (Hanworthl Youth Club
Daisies Kids Club
Teens Trailblazers
Harrow Association of Disabled People
The H.O.M.E. al School Association Lid
The Lewisham Sports Consortium
A Spark in the Dark Ltd
Children Ahead
Voluntary Action Epping Forest
Investments
Quoted investments were held by Quilter Cheviol Ltd I"Quiller Cheviof'i as their Investment Managers The
lolal return largel for the investment portfolio has been sel al inflation plus 30h p.a. nel of fees. This implies a
nominal largel of 5010 p a. assuming the Bank of England's official 2Vlo largel for CPI inflation. For the
financial year 2023-2024, the income largel was £420,000 compared lo actual return of £440,165. For 2024-
2025 the largel has been sel al £420,000 again.
The Trustees wish to be responsible investors therefore the Investment Manager is expected lo lake account
Environmental, Social and Governance {ESGI issues in their investment analysis and decision-making
processes and engage with company management where appfopriale. These objects are monitored regularly
by the Charity's Finance and Investment Committee.
Page 6

Grange Farm Centre Trust
Report of the Trustees
For the Year Ended 5 April 2024
Grange Farm
Investment risk
The Managing Trustees appointed Quilter Cheviol lo be investment advisers lo the trust under S.11 of the
Trustees Act 2000. Quilter Cheviol manage the funds with a single management team.
FREEHOLD~ GRANGE FARM, CHIGWELL, ESSEX
As al 5 April 2024 the Charity owns the freehold of the sile al Grange Farm, Chigwell Essex of approxlmalely 93
acres. Tille lo the land is vested in the Custodian Trustee for the benefit of the Charity.
25 acres of land lo the North of the M11 molofway is lo be preserved 2nd maintained as an open space for the
use and benefit of the inhabilanls of the area of benefit. This land forms part of the 160 acres Roding V211ey
Nalufe Reserve IRVNR'I described as a Local Nature Reserve. in accordance with S21 National Parks &
Access lo the Countryside Act 1949, RVNR jointly owned with Epping Forest DC and comprises the largest
surviving area of Iradilionally managed river-valley habi181 in Essex and follows the River Roding. Part of the sile
comprises a Sile of Special Scientific Interest ISSSII in accordance with the ¢ilalion from England Nature dated
1987. The reserve is managed by Essex Wildlife Trust under the governance of a management aoreemenl d8led
111h March 2011, which is reviewed by a management committee.
The balance comprises approximately 68 acres of land which has been restored and upon which The Pavilion
sports facilities, a pond, swale with wildflower meadow, a children's playground and car parks have been
¢onslrucled. The sports facilities are primarily used by Colebrook Royals Football Club I CRFC") under the terms
of the Football Foundation grant of August 2009 providing for some 32 teams which includes 2 girls leams.1
veterans, team and an increased number of under 7 teams. In addition, CRFC are participaling.in Soccer 6" a
scheme for 6 year olds lo play in house games gelling ready for league football when they reach age 7. Over
100 children participate in a Football School each Saturday and for 2 weeks in the summer and autumn. CRFC
have a formal agreement with Leylon Orient FC lo give local children a roule into a professional club.
By 5 April 2024 fourteen12023". fourteen) community groups were using the Community Halls. In addition, the
halls were used by the local community for family gatherings and functions. The building is capable of being the
base for increasing nijmbers of school children from local schools allending Classes run in the year by Essex
Wildlife Trust. A programme of themed activities is usually run for children and adults throughout the year, such
as caterpillar clubs, junior rangers, dawn chorus, foraging awareness and an Easter egg hunt. The charity funds
an Ewf part-liffle Recreational Officer lo assist with these aclivilies.
Over the years the charity has developed a partnership with Ace Aelivilies parl of Voluntary Action Epping Forest
which provides al Grange Farm mulli 8clivilies for people with learning difficulties. 11 offers a range of
opportunitie5 which include gardening, self-calering. conserv81ion, music, and arts & crafts. This has continued
throughout the year.
MANAGEMENT POLICY
Operational responsibility for the playing fields and The Pavilion vest with Grange Farm Sports Centre Limited
I GFSC°l a company wholly owned by the Charity As agreed with the Charity Commission on 19 September
2018, a lease was granted by the Trust for GFSC for five years al a market rent of £30,000 per annum. Under
the terms ol the lease, GFSC can reclaim unrecovered expenses from the Charity. In the year ended 5 April 2024
GFSC claimed £320,00012023. £310,000).
Operational responsibility for the meadow lands swale and pond vest with Chigwell Meadows Limited I'CM l a
company wholly owned by the Charity. On 19 September 2018, 8 lease was granted by the Trust lo CM for five
years al a peppercorn rent. Under the terms of the lease CM can reclaim unrecovered expenses from the Trust.
In the year ended 5 April 2024 CM claimed £55,00012023". £42,000).
Under the terms of the S106 agreement the freeholder of the 2djacenl housing development is required lo
contribute towards the maintenance of the pond and swale. In the year ended 5 April 2024 CM received £7,848
12023.. £7,332).
Page 7

Grange Farm Centre Trust
Report of the Trustees
For the Year Endod 5 April 2024
Giange Farm
The operation of the Iwo subsidiary companies is monitored by the GFSMC on behalf of the Charity.
During 2023124, the Trustees revised the Financial Controls Policy lo continue to provide a structure in the way
the Trust operates and to proteel the Trust's assets, following advice from the Finance & Investment Commillee.
The Charity has also developed and inlegraled a series of policies for the conduct of staff and visitors al the sile.
These are kept under regular review by the Charity's Governance & Future Vision Committee.
RESERVES POLICY
The Msnaging Trustees considers that the current level of the Restricted Fund constitutes a strong reserve and
ils maintenance in real term5 is a priority of the Managing Trustees.
The Managing Trustees consider that the current level of the Unrestricted Fund is necessary in view of the
expected excess of expenditure over inwme for the foreseeable future.
THE FUTURE
The Charity is faced with the volalilily in the financial markets caused by other international factors which imp2cIs
the investment portfolio land possible long term income) and subslanlial inflationary pressures. However, the
income forecast in the short term remains strong and the Trustees meet regularly throughout the year lo review
the position. The building and Pelican Playground, together with the Roding Valley Nature Reserve and Chigwell
Meadows have seen greatly enhanced numbers of visitors which is welcome.
The groundsman's house has now been fully completed as a result of the increased use of the sile which will
enable 24 hour attendance on sile of staff.
The TrLJStees are continuing lo look at and invest in suslainabilily projects lo reduce energy consumption and be
more environmentally friendly.
The Managing Trustees continue to look al ways of involving the public generally in the use of the sile al Chigwell
and using their expertise lo assist other similar siles in the area of benefit.
Despite the long term economic uncertainly. the Managing Trustees continue lo accept and Gonsider grant
applications from qualifying bodies from within the area of benefit. Grants will continue lo be paid with an
emphasis on smaller applicants.
Page 8

Grange Farm Centre Trust
Report of the Trustees
For the Year Ended 5 April 2024
Grange Farm
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
In so far as the Iruslees are aware".
there is no relevant audit information of which the charity's auditors are unaware., and
the Iruslees have taken all steps that they ought lo have taken lo make themselves aware of any relevant
audit information and lo establish that the auditors are aware of that information.
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The Iruslees are responsible for preparing the Annual Report and the Financial Slalements in accordance with
applicable law and United Kingdom Generally Accepted Accounting Practi￿.
The law applicable lo charities in England and Wales requlres the Iruslees lo prepare financial statements for
each financial year which give a true and fair view of the charity's financial activities during the year and of ils
financial position al the end of the year. In preparing financial slalemenls giving a true and fair view, the Iruslees
are required lo".
select suitable accounting policies and Ihen apply them consislenlly.
make judgements and estimates that are reasonable and prudent,. and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
charity will continue in operation.
The Iruslees are responsible for keeping proper accounting records which disclose with reasonable accuracy al
any lime the financial position of the Charity and enable them lo ensure that the financial slalemenls comply with
the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for 18king
reasonable steps for the prevention and detection of fraud and other irregularities.
On behalf of the board
L Cleasby- Clerk
Dale.. l+ J2nuac
zozs
Page 9

Grange Farm Centre Trust
Grange Farm
Independent Auditorfs Report to the Trustees of Grange Farm Centre Trust
Opinion
We have audited the financial slalemenls of Grange Farm Centre Trust (the 'charily'l for the year ended 5 April
2024 which comprise the Slalemenl of Financial Aclivilies, the Balance Sheet, the Slalemenl of Cash Flows and
the related notes, including a summary of significant accounting policies. The financial reporting framework that
has been applied in their preparation is applicable law and United Kingdom Accounting Sl8ndards, including
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of
Ireland, Iuniled Kingdom Generally Accepted Accounting Praclicel.
The financial slalemenls have been prepared in accordance with Accounting and Reporting by Charities
preparing their accounts in accordance with the Financial Reporting Sland8rds applicable in the UK and Republic
of Ireland IFRS 1021 in preference lo the Accounling and Reporting by Charities.. Slalemenl of Recommended
Practice issued on 1 April 2005 which is referred lo in the exlanl regulations bul has been withdrawn.
This has been done in order for the accounts lo provide a true and fair view In accordance with the Generally
A¢￿pIed Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
In our opinion the financial slalemenls..
give a true and fair view of the slate of the charity's affairs as al 5 April 2024 and of ils incoming resources
and application of resources for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice.,
and
have been prep8red in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with Inlemalional Standards on Auditing IUKI IISAS IUKII and applicable
law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit
of the financial slalemenls section of our report. We are independent of the charity in accordance with the ethical
requirements that are relevant lo our audit of the financial slalemenls in the United Kingdom, including the
Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in
accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and
appropriate lo provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial slalemenls, we have concluded that the Trustees, use of the going concern basis of
accounting in the preparation of the financial slalemenls is appropriate.
Based on the work we have performed, we have not identified any material Ljncertainlies relaling lo events or
conditions that, individually or collectively, may cast significant doubt on the charity's ability lo conlinue as a going
concern for a period of al least twelve months from when the financial slalemenis are aulhorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect lo going concern are described in the
relevant sections of this report.
Other information
The Trustees are responsible for the other information. The other information comprises the inform81ion included
in the Annual Report, other than the financial slalemenls and our Auditors. Report Ihereon. Our opinion on the
financial statements does not cover the other information and we do not express any form of assuran
conclusion Ihereon.
Independent Auditor'$ Report to the Trustees of Grange Farm Centre Trust Icont'd}
In connection with our audit of the financial slalemenls, our responsibility is lo read the other information and, in
doing so, consider whether the other information is materially inconsistent wilh the financial statements or our
knowledge obtained in the audit or otherwise appears to be materially misslaled. If we identify such material
inconsistencies or apparent material misslalemenls, we are required lo determine whether there is a material
Page 10

Grange Farm Centre Trust
Grange Far
misstalemenl in the financial slalements or a material misstalemenl of the other information. If, based on the
work we have performed, we conclude that there is a material misslalemenl of this other information, we are
requlred to report that fact.
We have nothing lo report in this regard.
Matters on whlch we are required to report by exception
We have nothing lo report in respect of the following mallers where the Charities IAccounls and Reports)
Regulations 2008 requires us lo report lo you rf, in our opinion..
the information gNen in the Trustees. Report is inconsislenl in any material respect with the financial
stalemenls., or
sufficient accounting records have not been kept,. or
the financial sl8leTllenls are not in agreement with the accounting records and returns.. or
we have not received all the information and explanations we require for our audit.
Responsibilitleg of trustees
As explained more fully in the Trustees, Responsibilities Statement, the Trustees are responsible for the
preparation of the financial slalemenls which give a true and fair view, and for such internal control as the
Trustees determine Is ￿e￿ssary lo enable the preparation of financial slalemenls that are free from material
misslalemenl. whether due lo fraud or error.
In preparing the financial slatemenls, the Trustees are responsible for assessing the charity's 8bilily lo continue
as a going concern, disclosing, as applicable, mallers related lo going concern and Ljsing the going concern basis
of accour)ling unless the Trustees either intend lo liquidate the charity or lo cease operations, or have no realistic
allernalive bul lo do so.
Auditors. responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report In accordan￿ with
the Act and relevant regulations made or having effect Ihereunder.
Our objectives sre lo obtain reasonable assurance about whether the financial statements as a whole are free
from material miss121emenl, whether due lo fraud or error, and to Issue an Auditors, Report that includes our
opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in
accordance with ISAS IUKI will always delecl a material misslalemenl when il exists. Misslatemenls Can arise
from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expected lo Influen￿ the economic decisions of users taken on the basis of these financial slalemenls.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures
in line with our responsibilities, outlined above, lo delecl material misslalemenls in respect of irregularities,
including fraud. The exlenl lo which our procedures are capable of delecling irregul8rilies, including fraud is
de18iled below..
Based on our understanding of the legal and regulatory frameworks that are applicable lo the enlily we have
considered those that have a direct and indirect material impact on the financi81 slalemenls and operations of the
charity. These include bul are not limited lo the Charities Act 2011, GDPR, and Employment and Health & Safety
legislation.
We obtained an understanding of how the charity are complying with those legal and regulatory frameworks by
making inquiries to the management. We corroborated our inquiries through our review of documentation
gerieraled and assessing the exlenl of compliance Mlh the relevant laws and regulations.
We discussed among the 2udil engagement team regarding the opporlLJnilies and incentives, including
management override of controls, Ihal may exist within the organisalion for fraud and how and where fraud might
occur in the financial slalemenls.
Page 11

Grange Farm C¢ntre Trust
Grringe. Farm
As a result of performing the above, we Idenlrfied the greatest potential for maleri?I misstalemenls due lo fraud
are in the followng areas, and Dur specifi¢ procedures porformed lo addre88 these are described below..
The risk of management override of control8 is the area where the flnanoial slalements were most susceptible to
malerlal mi5slalem8nt due lo fraud.
Procedures pgrfwmed to addre$8 these were as follows..
Identifying and assessing the design effeclThieness of conlrols management has in ￿a¢8 to prevonl an(1
delect fraud, including known or Suspected instances of non-compliance with laws and regulations, and
fraud.
Underslandlng how those charged with govemance Considered and addressed the potential for override of
controls or other inappropriate irrfluenee over financial reporting proce5S,
Challenging assumptions and judgements made ty managernenl in Ils significant accounting estimates,
Identifying and lesling journal entries, in particular any unusual jDurn81 entries posted around the year-end
and journal entries posted by infreouenl system users,
Ensuring that restricted and unrestricted reserves have been allocated correctly, and
Reviewiro board minutes for any discussion of events or evidence which will have an impact on the
financial sialements.
Because of the inherent limitations of an audit, there is a risk that we will not delect all Irrtgularllres, inclLfding
those leading lo a material misslalemenl in tho finsnclal slalemenls or non-compliance with regulation. This risk
increases the MO￿ that compliance with a law or regulation Is r&moved from the events and transactions
reflected in the financial slalements, as we will be less likely to become aware of instances of non-complianco.
The risk is also greatèr regarding irregularities occurring due lo fraud ralher than grror, as fraud involves
intentional ¢oncealment, forgery, coIIu5ion. omlsslon or misreprèsentation.
A further description of our responsibilities for the audlt of the financial statements is located on the Financial
Reporting Council's website al.. www.frc.org.ukl8udilorsresponsibililies. This description fomis parl of our
Auditors, Report.
Use of our report
This report is made solely lo the charity's trustees. as a body. In accordance with Part 4 of the Charities
{Accounls and Reports) Regulations 2008. Our audll work has been undertaken so that we might stale to the
¢h8rlty's trustees those mallers we are required lo slate lo them in an Auditors, Report and for no other purpose.
To the fullest exlenl permilled by law, we do not accept or assume responsibility lo anyone other than the charity
and ils IrLJStges, as a body, for our audit work, for this report, or for the opinions we have formed.
Haslers
Chartered Ac¢ounlan15
Slalulory Auditor
Old Slalion Road
Loughton
Essex IG10 4PL
Dale.. 14 January 2025
Haslers are eligible lo act as auditors in terms of section 1212 of the Companies Act 2006.
Page 12

Grange Fami Cèntre Trust
Statement of Financial Activities
For the Year Ended 5 April 2024
Grange Farm
Unrestrlcted
Funds
Restrlcted
Funds
2024
Total
2023
Total
Notgs
INCOME FROM:
Investments
Lelling
Total income
390,056
30,000
50,109
440,165
30,000
458,608
30,000
420,056
50,109
470.165
488,608
EXPENDITURE ON:
Charitable activities
509,610
188.298
697,908
669,541
Total expenditure
509,610
188,298
697,908
669,541
Nel gains I Ilossesl on investment assets
109,545
1,377,128
1,486,673
11,290.834)
Net income I lexpenditurel
19,991
1,238,939
1,258,930 11,471,767)
Other recognised gains I (losses)
Net movement in funds
19,991
1.238,939
1,258,930
11.141.767)
Reconclllation of funds..
Total funds brought forward
1,020,046
15,405,161
16,425,207
17,896,974
Total funds carried forward
1,040,037
16.644.100 17,684,137
16,425,207
The notes on pages 16 to 25 form an integral part of these financial statements
Page 13

Grange Farm Centre Trust
Balance Sheet
As at 5 April 2024
Grange Farm
2024
2023
Notes
Fixed Assets
Freehold land and buildings
Investments
Investments in Subsidiaries
2,950,908
14.549,322
12
2,682,276
13,734,939
12
17,500,242
16,417.227
Current Assets
Debtors
Cash at bank
99,256
184,709
61,097
147,618
Total resources expendod
283,965
208.715
Less.. Creditor$'. amounts falllng
due within one year
Net current assetsl Iliabilitiesl
Net assets
10
100,070
200,735
183,895
7,980
17,684,137
16,425,207
Funds
Reslricled funds
Unreslricled funds
12
13
16,644,100
1,040,037
15,405,161
1,020,046
Total funds
17,684,137
16,425,207
The financial slalemenls were approved and aulhorised for issue by the trustees on 14
signed on Ils behalf by
J 2045and
MrTJo
Chairman
son
Mr J Salim
Treasurer
Dale.. l * J4rtt40
The notes on pages 16 to 25 form an integral part of these financial Statements
Page 14

Grange Farm Centre Trust
Statement of Cash Flows
For the Year Ended 5 April 2024
Grange Farm
2024
2023
Notes
Cash flows from operating activities:
Cash generated from operations
CF1
1680,0751
1680,0751
1451.8711
Net ca$h {used in) I provided by opgrating activltles
1451.8711
Cash flows from investing activities..
Purchase of tangible fixed assets
Purchase of fixed assel investments
Sale of fixed asset investments
Interest and dividends received
1395,2891
11,991,631 }
2,899,202
440,165
179,7261
13.263,0581
3,055,038
458,608
Net cash providgd by (used in) investing activities
952,447
170,862
Change In cash & cash equivalents {note 151
272,372
{281,0091
Cash & cash equivalents at 6 April 2023
Cash & cash equivalents at 5 April 2024
28,767
309,776
301,139
28,767
Notes to the Statement of Cash Flows
CF1 Reconclllation of net income {expenditurel to not cash Ilow from operating activltles
2024
2023
Net income l {expenditurol
1.258,930
11,471,767)
Adjustments for:
Nel Igainslllosses on investment assets
Depreciation charges
Interest and dividends re￿IVed
Ilncreasel I de¢r6ase in debtors
Increasel Idecreasel in creditors
Net cash (used inl I provided by operatlng activities
11,486,6731
126,657
{440,1651
138,1591
100,665
1680,0751
1,290,834
126,657
1458,6081
1,420
59,593
{451,8711
The notes on pages 16 to 25 form an integral part of these flnancial statements
Page 15

Grange Farm Centre Trust
Notes to the Financial Statements
For the Year Ended 5 April 2024
Grange Farm
Accounting policies
The principal accounting policies are summarised below. The accounting policies have been applied
consistently throughout the year and the preceding year.
Basis of accounting
The financial slalemenls of the charity, which is a public benefit entity under FRS 102, have been prepared
in accordance with applicable accounting standards including FRS 102. the Financial Reporting Standard
applicable in the UK and Republic of Ireland, the Charities SORP IFRS 1021 'Accounting and Reporting by
Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their a¢coun15 in
accordance with the Financial Reporting Standard applicable in the UK and Republic of IrelarTrd IFRS 1021
leffeclive 1 January 20191 and the Charities Act 2011. The financial slalemenls have been prepared
under the historical cost convention as modified for the valuation of investment.
The financial statements have been prepared lo give a 'lrue and fair, view and have departed from the
Charities (Accounts and Reports) Regulations 2008 only to the exlenl required to provide a 'lrue and fair
view,. This departure has involved following Accounting and Reporting by Charities preparing their
accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland
IFRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities.. Slalemenl of
Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial slalemenls are presented in sterling ane rounded lo the nearest £1.
The Iruslees consider that there are no material uncertainties about the Charity's ability lo continue 8$ a
going concern.
The Trust has two subsidiaries Grange Farm Sports Centre Limited and Chigwell Meadows Limited. The
Trustees have taken advantage of the exemption under section 139{21 of the Charities Act 2011 and have
not consolidated the results of these two subsidiaries.
1.2. Fund accountlng
Unrestricted Funds represent income received for use al the discretion of the Iruslees in furtherance of the
general objectives of the Charity.
Restricted Funds are those subject to special conditions imposed by the provider. The reslriclions are
binding upon the Iruslees.
1.3 Restricted funds
Are formed by five amounts.
FLJnd A- comprises approximately 25 acres of land lo be preserved and maintained as an open space for
the use and benefit of the inhabilanls of the area of benefit. This land forms part of the Roding Valley
Nature Reserve. The Iruslees have placed a value of £100 on Ihis land.
Fund B- comprises 68 acres of land over which comprises Chigwell Meadows, a pond and sw8le, a
Children's Playground, sports field and community garden, together with a Pavilionllnlerpre181ion Centre
for the use and benefrt of the inhabilanls of the area. The Iruslees have placed a value of £5,000 on this
land.
Page 16

Grange Farm Centre Trust
Notes to the Flnancial Statements
For the Year Ended 5 April 2024
Grange Farm
The balance of the Restricted Fund capital has been invested in trust for the Charity and can only be
applied by the Iruslees in purchasing of other land and buildings lo be settled upon trust for use in the
object of the Charity. As such the Trustees believe this is a Reslricled Fund.
There are three other Funds re￿Ived under a S106 Agreement for specific purposes.
These funds are invested in trust for the Charity. The income capi181 growth less investment fees is
available lo assist the Unrestricted Fund in maintaining the specrfic areas named in the respective Funds,
the lilles of which are'.-
Sports Field & Pavilion Fund
Open Spaces Fund
Access Way Fund
In view of the restriction in the way the Funds may be used, the Trustees believe that these are Reslricled
Funds.
1.4 Unrestricted funds
Comprised the income from Reslricled Fund B and from other Income realised in the year, which is
ulilised lo provide or lo assist in the provision of facilities for recreation and leisure lime occupation for the
benefit of the inhabilanls of the area of benefit.
1.5 Incomg
All incoming resources are included in the slalemenl of financial activities when the charity is enlilled lo
the income and the amount can be quantified with reasonable accuracy. The following specrfic policies are
applied lo partiCLJlar categories of income..
Income from investments is included in the year in which It is receivable.
Income from London Square Limited is induded in the year lo which il relates.
Income from rent from Grange Farm Sports Centre Limited is included in the year lo which it relates.
Expenditure
Liabilities are reC￿ni￿ed as experidilure as soon as there is a legal or conslruclive obligation commilling
the charity lo that expenditure, il is probable Ihal 8 transfer of economic benefits will be required in
selllemenl and the amount of the obligation can be measured reliably. Expenditure is accounted for on an
accruals basis and has been classified under headings that aggregate all costs related to the category.
Where costs cannot be directly allribuled lo particular headings they have been allocated lo activities on a
basis consislenl with the use of resources.
Grants are included as expenditure in the period for which the award is given. Details of recipients of grants
paid are listed in the Trustees Report.
Subsidies lo fund the excess expenditure of the two subsidiaries are shown as a cost.
Page 17

Grange Fami Centre Trust
Notès to the Financlal Statements
For the Year Ended 5 April 2024
Grange Farm
Governance costs are those costs relating lo the governance infraslruclure which allows the charity to
operate and to generate the information required for public accounlabilily,
Support costs comprise those costs relating lo the direct management and general running of the charity.
They are allocated across the expense categories on a basis which reflects their effective contribution lo
that expense category.
1.7 Tangible fixed assets
Tangible fixed assets are slated al cost less accumulated depreciation and any impairment losses.
Depreciation is provided al rates calculated lo write off the cost less residual value of each asset over ils
expected useful life. a5 follows..
Freehold land
Freehold buildings
Playground and car parks
Not depreciated
Between 20/0 and 100kn per annum lo reflect the useful life of the buildings
10¥0 per annum lo reflect the useful life of the facility
1.8 Impairment
Al each Balance Sheet dale, the buildings, playground and car parks are assessed lo determine if there are
indicators that the assets may be impaired in value,. if there are such indicators of impairment, then a
comparison of the assets, carrying value compared lo their recoverable amount, is undertaken. Any excess
over the recoverable amount is recognised as an impairment loss and charged as expenditure in the
Sialemenl of Financial Aclivilies,. the carrying value is reduced appropriately.
1.9 Investments
Investments ale measured initially al cost and subsequently al fair value Ilheir market value) al the balance
sheet dale. The SOFA in¢ludes the nel gains and losses arising on revaluations and disposals throughout
the year. The Iruslees adopt a cautious investment policy so as lo minimise risk. Investments are monitore
and reviewed by Iruslees on a regular bas1S.
1.10 Cash at bank and in hand
Cash al bank and in hand includes bank current accounts and bank deposit accounts with no withdrawal
limitations.
1.11 Creditors
Creditors are recognised where the charity has a present obligation resulting from a past event that will
result in the transfer of funds lo a third party and the amount due lo sellle the obligation Can be measured
or eslimaled reliably. Creditors are recognised al their selllemenl amount.
1.12 Financial Instruments
Financial assets and financial liabilities are recognized in the statement of financial position when the
Charity becomes a party lo the conlraclual provisions of the inslrumenl.
Trade (including rental) and other debtors and creditors are classified 8s basic financial inslrurnenls and
measured al initial recognition al transaction price. Debtors and creditors are subsequently measured al
amortized cost using the effective interest rale method. A provision is established when there is objective
evidence that the Charity will not be able lo collect all amounts due.
Cash and cash equivalents are elassrfied as basic financial instruments and comprise cash in hand and al
bank, short-lerm bank deposits with an original maturity of three months or less and bank overdrafis which
are an integral part of the Chafily's cash management.
Page 18

Grange Farm Centro Trust
Notes to the Financial Statements
For the Yoar Ended S April 2024
Grange Farm
Unrestricted
Funds
2024
Restrlcted
Funds
2024
Total
2024
Total
2023
Investment Income
Bank interest receivable and currency gains
Overseas equities
Reall0cal￿n
3,107
437.058
(50,1091
39),056
3,107
437.058
295
458,313
50,109
50,109
440,165
458,608
Lettlng Income
Grange Farm Sports Centre Limited
30,000
30,000
30,000
30,000
30,000
30,000
Charltable activities
Grants payable
Support costs Inole 51
64,229
445,381
509,610
64,229
633,679
697,908
54,512
615,029
669,541
188,298
188,298
Analysis of support Costs
Unrestricted
Funds
Restricted
Funds
Total
2024
Total
2023
Audit fees
Clerks management fees
Bank charges
Legal and professional fees
Investment management fees
Roding Valley Nature Reserve
Grange Farm Sports Centre Ltd
Chigwell Meadows Limited
Depre¢iation- buildings car parks and
playground
Sundries
11,200
27,840
11,200
27,840
10,926
27,840
2,800
4,904
23,637
320,000
55,000
2,800
66,545
23,637
320,000
55,000
6,767
67,020
20,697
310,000
42,000
61,641
126,657
126,657
126,656
3,123
615,029
445,381
188,298
633,679
During the year ended 5 April 2024, no Trustee expenses have been incurred12023 - £NIL}.
Page 19

Grange Farm Centre Trust
Notes to the Financial Statements
For the Year Ended 5 April 2024
Grange Farm
Tangible fixed assets
Restricted Funds
Restricted
Funds
Total
Total
Buildings, car
Freehold
parks and
Land Playground
Asset under
construction
2024
2023
Cost
Al 6 April 2023
Additions
5.100
3,574,831
soo
76,726
394,789
471,515
3,656,657
395,289
4,051,946
3,576,931
79,726
3,656,657
Al 5 April 2024
5,100
3,575.331
Accumulated depreclation
Al 6 April 2023
Provided in year
Al 5 April 2024
974,381
126,657
1,101.038
974,381
126,657
1,101,038
847,724
126,657
974,381
Net book value
Al 5 April 2024
5.100
2,474,293
471,515
2,950,908
2,682,276
Al S April 2023
5,100
2,600,450
76,726
2,682,276
2,729,207
Investments
Total
2024
Total
2023
Valuation
At 6 April 2023
Additions
Disposals
Revaluation
13,853,790
14,936,604
1,991,631
3,263,058
12,899,202) 13,055,038)
1,486,673
11,290,834)
14,432,892
13,853.790
Al 5 April 2024
Investments- Capi181 account
116,430
(118,8511
Total value at 5 April 2024
14,549,322
13,734,939
Investments are held within FX)rrfolios managed in the UK.
Historical cost as al 5 April 2024
12,093,888 12,838.867
Historical cost as al 5 April 2023
12,838,867 13,155,344
Investments include no securities wrth a market value of 50/0 or more of the lolal portfolio.
Page 20

Grange Farm Centre Trust
Notss to the Financial Statements
For the Year Ended 5 April 2024
Grarige Farm
Investments In subsidiaries
As al the 5 April 2024, the Trust had two subsidiaries12023.. two)..
Grange Farm Sports Centre Limited - 1000/¢ owned by the Trust. The company is limited by guarantee. Nel
assets al 31 March 2024 of £4,296,. Turnover of £365,051 and expenditure of £375,996 for the year ended
31 March 2024.
Chigwell Meadows Lirniled - 1000/0 owned by the Trust. The company is limited by guarantee. Nel liabilities
al 31 March 2024 of £379., Turnover of £62,848 and expenditure of £60.653 for the year ended 31 March
2024.
Debtors
Restricted Unrestricted
Total
2024
Total
2023
Income tax
Other debtors
Grange Farm Sports Centre Ltd
2,950
67,516
28,790
2,950
67,516
28,790
2,950
58.147
99,256
99,256
61,097
10. Credilors.. amounts falling due within one year
Restricted Unrestrlcted
Total
2024
Total
2023
Grange Farm Sports Centre Ltd
Other creditors
Expense creditors
46,210
62,154
92,371
47,411
52,659
47,411
52,659
100,070
100,070
200,735
Page 21

Grange Farm Centrè Trust
Notes to the Financial Statements
For the Year Ended 5 Aprll 2024
Grange Farm
11. Analysis of net assets between funds
Flxed
Assets Invgstments
Net current
assets
Total
funds
Restricted Funds
Fund A
Fund B
Sports Field and Pavilion Fund
Open Spaces Fund
Access Vvay Fund
Unrestricted Funds
100
2,950.808
11,668,874
1,279,288
589,352
155,678
856,142
14,549,334
14,619,682
1.279,288
589,352
155,678
1,040,037
17,684,137
183,895
2,950,908
183,895
In the opinion of the Iruslees, sufficient resources are held in an appropriate form to enable each fund lo be
applied in accordance with any reslriclions.
12. Restrlcted Funds
At
At
Capital
Gainsl
Ilossesl
5April
2022
Incoming
resources
Outgoing
resources
5 April
2023
Restricted Fund A
Reslricled Fund B
Sports Pavilion Fund
Open Space Fund
Access Way Fund
100
100
1181,3811 13,581,674
14,5551
1,150.131
12,0031
532,576
529
140,680
1188,4681 15,405,161
14,817,102
1,208,650
558,300
147.475
16,731,627
11,054,047)
187,740}
138,5691
10,188
11,190,544)
33,776
14,848
3,922
52,546
At
At
Capltal
Galnsl
{losses)
S April
2023
Incoming
resourcgs
Outgoing
resources
5 April
2024
Reslricled Fund A
Restricted Fund B
Sports Pavilion Fund
Open Space Fund
Access Way Fund
100
13,581,674
1,150,131
532,576
140,680
100
{181,230) 14,619,682
14,5441
1,279,288
(1,9971
589,352
527
155,678
1188,2981 16,644,100
1,219,238
101,491
44,614
11,785
1,377,128
32,210
14,159
3,740
50,109
15,405,161
Page 22

Grango Farm Centre Trust
Notes to the Financial Statements
For the Year Ended 5 April 2024
Grange Farm
13. Unrestricted Funds
At
At
Capital
Gainsl
(losses)
5April
2022
Incoming
resources
Outgoing
resources
5 April
2023
Unrestricted Funds
1,165,347
436,062
1100,2go}
1481,0731
1,020,046
At
At
Capital
Galnsl
(losses)
5 April
2023
Incoming
resources
Outgolng
resources
5 April
2024
Unrestrlcted Funds
1,020,046
420,056
109,545
1509.610}
1,040,037
14. Related party transactlons
Grange Farm Sports Centre Limited leases the playing fields 8nd Pavilionllnterprelalion Centre for £30,000
12023.. £30,000>. Included within support costs is £320,00012023.. £310,000) payable lo the subsidiary for
operational costs. The amount due from Grange Farm Sports Centre Lirlliled as al the year-end was £28,790
12023.. £46,210 due lo Grange Farm Sports Centre Limiledl.
Chigwell Mesdows Limited leases the meadowlands swale and pond from the Trust for a peppercorn rent.
Included within maintenance costs is £55,00012023'. £42,000) payable lo the subsidiary for operational costs.
The amount due lo Chigwell Meadows Limited as al the year-end was £NIL12023.. £7,000}.
15. Analysis of changes in cash & cash equivalgnts
At 5 Aprll
2023
At 5 April
2024
Cash flows
Cash & cash equivalonts
Cash al bank
Inveslmenl cash
147,618
1118,8511
28.767
37,091
235,281
272,372
184,709
116,430
301,139
Page 23

Grange Farm Centre Trust
Notes to thè Financial Statements
For tho Year Ended S April 2024
Grange Farm
16.
Prior year statement of flnancial a¢tivitles
Unrestricted
Funds
Rostricted
Funds
2023
Total
2022
Total
Notes
INCOME FROM:
Investments
Lelling
Totsl income
406,062
30,000
52,546
458,608
30,000
436,606
30,000
436,062
52,546
488.608
466,606
EXPENDITURE ON:
Ch8rilable activities
481,073
188,468
669,541
752,217
Total expendlture
481,073
188,468
669,541
752,217
Nel gains Illosses} on investment assets
(100,2901 {1,190.5441 11,290,834)
789,020
Net income I lexpenditure)
1145,301} 11,326,466} 11.471,7671
503,409
Other recognised gains Illossesl
Net movgment In funds
1145,301) 11,326,466) 11.471,7671
503,409
Reconciliation of funds..
Total funds brought forward
1,165,347
16,731,627 17,896,974
17,393,565
Total funds carried forward
1.020,046
15,405,161 16,425,207
17,896,974
17.
Capital Commitment
Amounts Contracted for bul not provided in the financial slalements..
£249,342 regarding the new building12023'. nil}.
Page 24