Charity registratlon number 289423 Company registratlon number 01659324 (England and Wales} THE HOXTON TRUST ANNUAL REPORT AND UI4AUDITED FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MARCH 2025
THE HOXTON TRUST LEGAL AND ADMINISTRATI1 INFORMATION Trustees Ruth Lomax- Chalr Maria Way Kimson Akxander Sharon Meager Cllr Kam Adam8 Warren Drew Broqan M¢Pherson Sudenaz Top Rev Andrew Jones IAppoln1 on 23 O¢lobÉr 20241 Secretsry Paul Flemin9 Charlty number 289423 Company number 01659324 Senior Manag•ment Paul Fleming- Executive Director Wèb$lte www.ho ontrusl.ol Regi¥tered office 156 Hoxlon Street London N16SH Indepondent •xamlner David Terry FCA Ramon Lee Ltd Chartered Accountants 93 Tabemade Stmt London EC2A 4BA Bankers Bank of Scotland London ChiÈf Office Branch P.0. Box 1000 BX2 1LB Solicitor¥ Nichc4as & Co. 18-22 Imgmore SITeet London W1U2RG
THE HOXTON TRUST CONTENTS Pagé Chairfs slalemenl Trustees, report Independent examinels report St8t8ment of finanu818etivllles 10 Balance sheet .Noles lo Ihe financi81 fj18tèm8llts 12-21
THE HOXTON TRUST CHAIR'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2025 Chairs, thanks l am delightèd lo introduce The Hoxton Trust Annual Rewrt for the firTrancl¥l year 2024125. This year, our 40 knniversary year, The Hoxlon Trust has made a sustained, tangible and Measurab impact on the lives of local people. As Chaii, l atn consistently impressed by the devotion of s(aff. volunteers and IruslèÉs who all go the èxtra illile atter mile to make sure th81 local people receThie the best support possible. Also, the garden ntInueS lo be the sanctuary for H(iMtton, with ifjtxeasing opportLJnilias for conneclions and participètinn that are so important for imwoved mental iiealth and wellbeing across Oltr communÉty. I WOU like It) takè Ihts opportunity Éo extend my heartfell gratitude lo the exceptional loafft ol Hoxton Trust staff and volunteers. Our axperienced and dedicated Legal Advice SeNce staff guid8 dients - who access our services totally free of ch8rge- through issues related lo housing, welfai8 support and more. Infithout their unwavering commitment, many local people would have nowhere to lurn lor this valuable support. Our advisers Margaret Lauder, Clarissa Trevor and Abbas Kaplai oo invaluable to the Trust and the community. This ye8r they have helped hundreds of individuals. Equally ifflportanl is the beautiful Hox¢on Trust communily garden. Thousands of people who live 8nd work in Hoxton enjoy this weli-kepl space which changes and grows with each season, and which hosts so many community events and actwilies. Many don't realise that the garden is totally managed and cad for by thè Hoxton Trust namely our talellted and sknlled community gardener Stephen Mason, a pioneer in biodiversity and sustainabdity. The ever expanding calendar of garden 8clivities focusad on wellbeing and community Connections is expertty curated and publicised by the crÈxlivÈ and brilliant Gard8n Manager Max Mason. Our small staff t8am simpfy could not achieve everythtng Ihey do wilhoul our valued vc4unteers who gwe their time genertsusly wholher to staff our busy reception area or to help undertake n8ver-ènding gardening tasks. My thanks extend lo Paul Fleming. the Executive Dirèctor, lor his quit8 indefatigable outlook who again has shown skill and wisdom in managing costs and Sering the income required lo keep the charity sustainable. Tho-Board of Tru$tea$ I would also liko lo pay tribute lo my ColagueS on the Board ol TrtÈstèès, whose work is so uucial to the oversight of the work of The Hoxton Trust. It is importanl thal our 8oard represents the local CgTnmuriily, and l am proud to say that it does. Our trustees are individuals who live or work in Hoxlon or who have OthWiSe strong connections lo our work. Together, the Board brings professional skills and extensive kNOedge, whlch we could not do without. And they give their lime freely lo make sure that the Trust's work is a5ways alignèd lo our stratègic objectives. l am priwleged to know and woth alongside them. Thank you. l am also sincerely grateful lo cbur funders, all noted within this annual report. Wlhoul Ihwr support, tho invaluablo wotk ol ihe Hoxton Trust could nol continué. Quite simF4y, with more funding. we Uld help more peopl¢. We are always open to more grant and coipor81e funding opportunilles. Thank you lo everyone iNvolv8d in the important work of The H0Xtc Trust thi$ yèar and looking foNi3rd to the future. All thal you do is needed, and hugely appreciated, by the whole community. Fiulh Lomax Chair of Ihe.Bo&rd of Truste8S
THE HOXTON TRUST CHAIR'S STATEMENT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Executlvè Directorfs report W8 have had yet another busy and successful year delivering on our slralegic objectivès." to providt3 a free lega admce service for the most vulnerable people of Hackney., improving people's health and wellbelng through gardelling.. and rnanaging 8fMI maintaining a beautiful community garden for 8vÈryone's benefit. Each yèar, the Board reviews our objectivei. and we can wnfider)Ily ass8rt that the cost of living, welfare, nouslng and mental health rA)nlinue to the ovetriding challenges experienced across oui I31 commLi*ily and that we musl do our best10 .9fovide support in these areas. Income and Expendlturg Income in the pewiod was £182,950 (down from £194,370 in 20231241. The drop was due lo a fall in incorne from our charitable activities Igrantsl. More than half of lolal income cornès from dtaittable aclivilies.. £37,000 fiom City Bridge Foundation which pays for the legal advi drop-ln service we prowde from our office5 on Hoxton Street.. £24,000 from Shoreditch Park and the City PCN for promding our advice serviceg in a health care selling,. £9,596 from the Julia Rausing Trust which covers one of the days OLJr Community Gardener works. Thank you to these and all the organis8tions who believe in our work and demonslrale that with giants. Our other fflain SDurce of income is from Irading activities, £76,951 ImaTginally down from £78,323 in 2023124). Almost all of this comes from the rent we earn frorn properties. This is 'unreslrided ineA)mè' for (he organisation. Unlikè charitable activity income which we have lo spend on specific adivily, Income from trading holds no such restrictions. We spend this rnoney covefing the rernaining areas ol ourwork including most of the Executivè Diredor costs, overheads likè heating and lighling, building maintenancE and a small amount on adminlslration. Expendrturè in the Fkriod was £178,458 Idown from £202,888 in 20231241. Like the fall in income, the fall in expendilura was due lo a reduclion in staffing costs. Staff and volunteèr costs continue to make up Ihreequarters of our total spend, and, givon the type of organisation we are, this is nol expected lo change in the near lulvrè., the rising costs of employws, National Insurance adding lo the challenges. Despite this, w8 are very happy to report a small surplus of £4.412 la defiot of £8.518 in 20231241. Margins continue lo be light, and it is very easy lor a small charity like ours lo be blown off Course and soon hil financial difticullies. But our reserves are in line with Charity ComMissn guidellnes, £52,229 (up frorn £47.393 in 2023r24) and Ihe 'ovérsighl"wuired trom the Td of Trustees is robust. aul Flemlng Executive Dlmctor DAto'. 12 December 2025
THE HOXTON TRUST TRUSTEES, REPORT {INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The trustees presènt their annual report and financAal statements for tho year ended 31 March 2025. The financial statements have been prepared in 8¢cordanc6 with the accounting policies set out in note 1 to the financial statements and comply with the oharivs Mernoiandum and Articles of Association, tha Companies Act 2006 and 'Accounling and Reporting by Charities.. Slalemenl ol Recommend Practicè applicable lo charities preparing their accoun1 in accordance with thè Financial Reporting Standard applicable in the UK and Republic of .4aiid IFRS 021" leffeclive 1 January 20191. Oblectives and act5vities Vision: Our vision is ol a respedful and friendly community, where people help ead) other leam, develop and grow a network of support. Mission: Our mission is lo build the s'11s, knowledge and confidenc8 of the community so that logether we can make our area a beller place to live. We do thEs by.. Investing In peoplè to enable Ihetll to realise theyr potential. Creating a mutually respectful, friendty, supportive environment where we work with peoplé to help them tearn, devejop and solve their problems. Working with others Ipublic, prNate and voluntsry sector groups and organisations) to cre8le a neOrk of support for our commvnily. CharitabEe objects The charitys objects f'objecls" 18re specifically rest¥ted.10 the following.. The rèlief ol financial hardship by the provis of frèe gaI adce and as8181ance lo persons who, through lack of means, would olheTWi5e be unable lo obtain suGh advice. To advance the education and training ol the public in Ihe subject of hortiCLfllure and In the geography, history, natural history and arehitecture of Hoxton. To develop the eapacity and skills of Ihe membeis of the soeially and economically disadvantaged cmMunitY of Hoxton I Shoredilch in such a way that they are better able to idelllify and. help lo meet, their needs, and lo participate fully in sOetY. The prornolion, for the benefit of the public, of urban regoneralion in areas ol scKlal and ¢conomic depriyalion land partilaT in Hoxton in.tha London Borough of H8d(neyl. Such other rneans as may from lime lo liwe be delermined by IhÈ Trust. subject lo prior writtgn consent of the Charity Cornrnissionérs for England & Wales. Achlevemgnts and pgrfomiance Hoxton Community Garden We mairilain and manage the Hoxlon Communiiy Garden through an unllmiled lease on the land from LB ol Hackney. As cuslodrdn5 of Ihis space on behalf of the whole community we are conscious of our résponsibiliti¢s lo meet MMunity needs,. in a nutshell lo protect a quiet. clean and above all safè space for everyone lo enjoy. Within th81 remit, Ihe gafden hosts évents (mainly in the warmer rnonthsl,. the Spring saw Sound and hlatur$ for children, a collaboration with Ihè Museum of the Home and Ht)xton MiN-Fair wilh 8rainfools Circus, a street widè event. We celebrated our 41yh annivorsary in May with thè Easl London Community Band, Brainfools lagalnl, a puppet show, r8fflè, free food and arts and crafts which was rèally popular lfree fd is always a drawl) and in June we look part in our first London Open GArd6ns which saw an atllazing turnout of visitor$ who wouldn'l normally visit the garden. We were proud to show off what has been created here over the last 4 decades. More collaborations included tha East London Shakespeare Festival, who pérformed Much Ado Aboth Nothing, the Bob Hub vthich included Soc8 dancing, flag making and rnusic by the Stamford Hillbillies and the Hsckney Community Orchestra who playad at a late Thursday evening event we pilo18d. This went down very well, and we hope to Tun a féw more late evenings next year. Finally, 8 late summer event with our friends The Gland Union OIGheslra became very poignant as il was the last lime we saw the composer Tony H8ynès who passed away a month kler. We remember him with great affection.
THE HOXTON TRUST TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORTI (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Our tergale event was popular with families, this year enhanced by thé prèsence of Iwo adorable donkeys from Hackney Cily Farm. This event, in collaboral'on with bolh Gra¢ethurch 8nd St Annes, Hoxton has become a pèmianènt fixture in Ihe calendar. Haalth and Wellbeing As part of our Health aiid Vvellbeing aclivity we r8n a free, weekly outdoor Yoga and Ztsmba PTograrMrne between April and Qclober as well as a Sltmmèr ART in the f).41d&n programme. Sotne people stayed in Ihe gard¢iri nearty the whole day for this, participating in exercise in the morning and then Art projects in the afternoon. l i.'g most successful day was our freestyle T-shirt printing afternoon. The London School of Architecture ¢amè and painted the inside of the rainbow reading room. and it is now a permanent structure which acts as a book swap. We continued to SUPPLXI a small group of SEND 81udents from thè ne8rby N8w City College. plus some residen15 from Mary Seao)le House. 'Thank you forall the eltort you plrtinlo tèaching gardenlng lo ourslud8nts. They r8ally 6nioy¢d working ¥wlh you. Kiiszlian Varga, Lecturer SEND, New Cily College. Hackney. June 2024. Legal Advicè Servlee Another busy year saw us help 997 individuals 1853 last yearl who came to us with more Ih8n 1200 different matters- two-thirds of whlch were welfare relalÈd133%1, housing ra18t0d125.) and debt relaled110¢AI. This year has particulady highlighted profound and 5yslemic challonge5 Wlthin the housing system fa¢ed by our clionts. A significant and distressing issue has been the arduous wo¢ess of gISterIng with the local authttiity, where vulnerable individuals (8eÈ a labyrinth of adminislralive delay5, repealed documenl requests, and a 15-week wait for initial cont8d, adINg lo extreme fwslralion and hopelessness. For thosè who have successfully registered and been placed in the high-priorily Band B category, the prospÈcl ol sècuring a home remains bleak. with many biddlng unsuccessfully for over thre8 years. Furthervnore, for existing social housing tenants. the light lo a safe alld well-rnainlalned home is undermined by a pervasive failure in repairs. Clients repot( properties plagued by damp and mould, with contracted repair services often causing more damage than they resolve. In conclusion, th? housing Crisis manifests at 8very siage.. from the inaccessible gateway of regislralion to the negled of basic maintenance for Éen8nls, dem8nding urgent and strategic inletvention lo protect our most vulnerable con7munity members. Despite this. people 8ve us happier1328 told us thèy wer8 happier as a result ol our work), mole confidorkl1595 peoplel and more Infod {404 people). 1 in 3 cf Èach rsOn we help wlh our legal advace 8ervic8 feel we are'on their side, an<J 79 told u5 their lives were better. Wofils a not enough lo éxprèss mygratitude Mr 8, April 2024 Beyond housing, the cost-of-living crisis has been acutely fell Ihr(xJgh Ihe very basi¢s raquired lo live- eating and essential utilities. We issued over 1300 Food bank vouchers lo those who 51riiggle lo put food on the table for themselves and their families. Also, in response lo Thames Waler's substantial blll Increases. our team has provided ciiliGal support to all qu81Èfying low-income households we encountered, syesSfUllY s8curing the 50% dis¢ounl inilialivè for every eligible client. offering tal finanaal relief amid widespread hardship. We have spent a largè amount of time applying online for Universal Credit and Pension Credit. Those systems PTesum6 digital indu5ton, in other words il is expected that everyone has basic internet skills includlng emails and apps yet the reality we see is very differeni from that. We also spend a lot of time helping people manago thtslr utility bills,. we are used to reading thèm and still find them diffi¢ull lo understand. 11 appears to us that ulilily bilts arè needlessly and almost criminally complicated lo decipher.
THE HOXTON TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORTI (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Case Study Ms F is 8 local resident, quite able lo manage her affairs by herself bul back in 2021 was peitAexed lo realise her gas and è18clricily supply had been erroneously transferred lo Scollish Power, from her preferred supplier, Boost. After numerous calls and ermails and neither company admilling any mislake had béèn made, she carne ltr us for help. We decided lo apply directly to IhÈ Ombudsman on her behalf and after a ¢oupEe of months wailing ft>r the Invèsb'gation lo go through. both companies admitted their error, Scottish Power agreed lo tU-;n Ihe supplips lo Boost and. lor the inconvenienie caused lo cotllp¢nsate r client also. Despite legally undertaking to do thi5. not only did il nal happen. Scottish Power refused lo ¢haYkgè both the gas and electric meters thay had damaged. This meant they et)uld not operate as Pay As You Go rneters again. IPAYG eleis are a popular 8Sternative to paying through direct debil. bocause they allow to control your mowteyl, as Ms F had requested 8nd the Ombudsman had agreed should happ¢n To makÈ matters worse, Ms F started receiving bills of over £2,oocs frorn Scottssh Power and fright¢ning letters from debt collectors. During 2022 and 2023 we referred the case back to thè Ombudsman and emailed the chief executive of Scottish Power several tim6s, without ever weiving any acknowledgeTnent, let alone a rÈply. 11 look three years bul èventually in 2024 Ms F's electricity supply was returned lo Boost {or Ovo as the ¢(panY had now become). Yel she continued lo receive letters from debt collodors, so we continued to step in, contacting all levels of Scoiiish Power, induding the GEO. It took until February 2025 foi Ms Fs g8s suppty to be returned lo Boosllovo and both meters repaired. Over £3,000 in gas consurnption charges were waived by Scottish Power. .1 lust don't know how lo Ihank you. Ms F, Febru&ry 2025 We are prcAJd to serve all the communily.. 58% of dienls are ferllale, 42¢h male.. 41% have a disability 114% in Hackney)., by far the largest age group we see 15 people Sn their 50s {330AI but 20°A are under the age of 40. 19°k in their 40s and 17°A are pensioners. We see all elhni¢rties,' Black British African 127%). While British 115%). Wack British Caribboan114°Al, Turkish 18°Al. Arab150AI plus Bangladeshi, British llldian. Pakistani, Southeast Asian and .other ethnK groltps. People come from all parts of H2eknéy,' 50°A from postcode N1, 11°A from E2, 8OA each from N16 and E8 and a further 5°A from EC postcodes. Cllent satisfaction is high with 600 peO[e saying they'd recommend us andlL¥ would come again.11 is gratifying that 481 people also tell us they undèrstand Ihe system better after our intervention and that 151 feel tY can now advocate lor Ihemselves. As well as welfare. debt and hou%ng we have sUPPOrted people with issuès such as consumer rights, employment, famity 13w, power of attorney and Inheritance11 I disptJt8s. U5timately, our alm is to empower people through s(tpport, information and adwce. Publlc benefit statement In shaping our objectives for the year and planning our aclivilies, the Iru81aès have CCsIdered th8 Charity 'Commission's guhyance 'on wljlic benefit. including 'the guidan 'public benefit.. running a charity IPD2). The achievemènts and activities above demanstrate the public benefit arising thrcAJgh the charily's adivilies. Flnancial rèvl¢w The Slalement of FinanrAal Acti71188 show net surplu5 of £4,386 (2024 - net defiut of £8,516) for the year and reserves sland at £52,203 12024 £47,817). The financial position at the year revealed by the Balance Sheet on page 11 shows net current assets or working capital of £52,020 12024 - £47,393). The nel book value of fixed . assets held, all ofwhich are.uséd directly lor tharilable PUTpose$, amountad to £18312024. 424). Investment powers and policy The M&morandum and Articles of Association alOriseS the Trustees to expend Ihe funds of the cha¥lty in such manner as they shall consider most benefiaal for the achi8vament of the objects and lo invesl IN the name of the charity such part of the funds as they may sè8 ftt and to direct (he sale tsr Iransposilion of any such inveslmonls and lo expend Ibè proceeds of any such sale in furtheiance of the objects of the charity. Al the presenl time the Twsl do¢s nol invesl its money.
THE HOXTON TRUST TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORT) {CONTINUED> FOR THE YEAR ENDED 31 MARCH 2025 Resetves policy Reserves are needed lo bddge the gap bebeen the reilg and 8pending of in¢x)mè and lo cover unplanned emergency repairs and olher èxpénditure sudi as redundancies. The Iiuslees considered Ihal the ideal level of resetves as at 31 March 2025 would be a mlnimum of 4 months. expenditure laTound £55,000). This is rÉwÉwÉd in the light of changes to activity, staffing and funding, and is monitored as part of Ihe budgeling process. Thp. year-end lanual slalernenls showed reserves of £52,203 14[1?4 - £47,817). The unreslricied funds not designated or invested in tangible fixed assets held by the charity are £52,02012024- £47.393). The Iruslees have rewewed the circumslancÈs of thé charity for ltte foreseeable lulure and are of the view that the tharity is a going GOnrn. Plans for future periods We will ¢onlinue lo develop our health and well1ng activitiès focused on gardening and growing food when the funding is available. We will conlinue lo apply robust finanaal management prOdUreS and aim to have all charitable activities fvlly funded. Collaborative working with other comrnunily groups, organisalions and stakehokiers a¢yoss the borough is central lo our philosophy and we will continue lo work h8rd to maintain and improve these. structure. governance and management Govèrnlng document The Hoxton Trust is registered under the Companies Act 1985 as a company limited by guarantee ¥nd not haviro a capital divided by shares. The company was incorporated on 8th Augu811982 and was registered as a charity on 18th May 1984. The Gompauy.w8s eslakAi5hed under the.Memor8ndum ol Association. which established Ihe obj8Ct8 and powor of the Gharitable company And is governed. under the ArtIcS of Assoeiation. In the event of the company being wound up membeis are required to conllibute an amount not exceeding E1. The charily registration n16mber is 289423 and the company registration number is 1659324. R8erultm•nt and appolntsnent of Trustees Individuals are sought who have an interest in one or rnore areas ol work of Thé Hox#on Trust and can offer areas of specialism where appropriate. At ead) general meeting one-third of the directors must retire from Office. This will be by rolalion, Ihose who have been longest in Offi since their last appoinlTllenl. A director shall cease to hokj office if {s)he is absent without pennission ol the diroctors from all their meeti1S held wh1n 8 period of six conseajtive molllhs, and the direclofs resolve that his I h¢r offe vacated. Trustse Inductlon and tralnlng New trustees are induded on the work and cultur8 of Thè Hoxton Trust and on the role8 and respon8ibililie8 Of Trust8as. The Twstees maintain a good worÈng knowledge of charity and cornpany law and best practice through online activities run by the Charity Commission and other opportunities such as the Annual Board Away Oay. New Trustees are given copies ofthe Memorandum and Articles olAssocialion.
THE HOXTON TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORTI (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Organisation The board of Iruslees (who are also directors) shall not be less than thrèè and there is no maximurr numbor. The company is otganised so that the Trvslees meet quarterly. whereby any ma5or risks lo which the charity if exposed are reviewed and systems and procedures are established to manage those risks. If the need arises, there will be oc¢asional extra meetings lo discuss problems which arisé unexpectedly. Trustees host annual Trust consultation rneÈlillQS Wlth staff and volunteers to inform the decision making by Trus16es about (he future direction of the Trust. The daily operations aro the responsibility ot the ' xeculive Director who has overall responsib¢lity for thè various projects and reports formally on a monthly basis to the Chair. in addition io the quarterly board meetings. Rglatsd partles The ¢h3rily wot*s dosety with the London Borough of Hackney. East End CAB and Hackney Carers lo help shape our legal admce service and wilh Hackney Foc¥J Bank lo providè an improved. holistic, clienl-centred sewi. We have built good ralationships with Hoxton Hall, Ivy St Farnily Céntre, Pèér Gallery and Mini81ry of Slorles as well as Sl Annes ChLFrch. Work to explore options related to the possible development of Ihe yard behind 156 Hoxton St was taken on by Eighlfol(S Agency, lo wh¢)m w8 are very grateful. Rlsk Management The Ituslees have a risk management approach and folbwing a review by 0er$ ol tho major risks lo which the Charity is exposed a risk register has been established. The Ihree rnain areas highlighted are.. Funding (development of varied lunding slreamsl., Appropriate financial prDcedures are in pla., Health and safety risks are minimised. These iisks are rnanag by ensuring that robust wlicie8 and processes ar8 in place and apprtspriale training is prOVed for slxff.
THE HOXTON TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Statement of trustees, responsibilities The Iwsleès, who are also the director5 of Th8 Hoxton Trusl lor the purpose of company law, are responsible for preparing thé Trustees, Report and the financial slaleTnenls in accordance wslh applicable law and United Kingdom Accounting Standards (United Kingdom GenerallyA¢c8Pt6d Accounting Practice). Company Law requires the Iwslees lo prepare financial slalements for each financial yeciK which gNe a thjè And fair blew ol the e,1?% te of affairs of the charity and of the incoming resoL*',ies and anDlicalion of resources, including the Iiicome and expenditure. of the charitablé eompany for that year. In preparing thesè financial statements, the trustees are required to.. select suitable accountlng policles and then appty them cx>nsistÉniW', (>bsèrvè lh8 methods and piin(aples in the Charities SORP., Tllake jud9¢ments and estimates thal arè rèasonable and prudent.. and prepare the finanaal statements on the goillg concem basis unless il is inappropriate lo presume that Ihe charity will continue in ¢)pèration. The trustees are rewnsible.for keep¢ng adequate accountlng records that disdose with rea8on8ble accuracy at any lime the financial posillon olthe charity and enabl8 Iherll lo onsure that the financial slalemertls comply with the COpanieS Acl 2006. They arè also r&sponsible for safeguarding Ihe assels ol the charity and hence lor taking Teasonable steps for the prevention and detection of fraud and olher irregularities. ThÈ Irusteès are responsible for tnainlenance and integrity of the corporate and financHI infomialion included on thè charitablè company's website. Legislation in Ihe Uniled Kingdom gov8rnlng the preparation and dissemination of financial slalgmenls may diffeT from kgislation in olherjurisdiclions. This Teport hss been prepared in accordanc0 wilh the speaal provisic$ télaling to small companies within Part 15 of the Companiès Acl 20(. The trustees, report was approved by thè Board of Trustees. Ruth Lomax Chair Cllr Kam Adams Trustee 12 DfjG8mber 2025
THE HOXTON TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE HOXTON TRUST I report lo the Iruslees on my examination of IhÈ financial slatemants of The Hoxlon Trust (the charity) for the year ended 31 March 2025. This Teport Is mad¢ solely to the chaiitls Iruste@s. as a body, in accordance wlh Ihe Charities Act 2011. My work has been undertaken so that I might state lo thé d)8rity's trustees those mallers l arn required lo slate to them in an independent examiner's rpport and for no other purpose. To the fullest exlenl pemiilted by lilw, I do not 8ccÈpl or assuTiiP. respons,,Si ily lo anyone olhér than the charily and the charit>, > trustees as a body. for my IndepÈndenl Exa..(Mation, for this report, ot lor the opinions I have formed. RosponslbFlltl•s and basis of report As the Iruslees of the charity land also ils directors for the purposes of company law) you are responsible for the prepaialioll of the financtal statements in aecordance with Ihe requirements of Ihe Companies Act 201K (the 20Q6 Acll. Having satisfied mysew that the financial statements of the ch81ity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the thaiily's financial statements trdrried out under 5eclion 145 of the Gharitiés Act 2011 Ith8 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission undef section 145{5llbl of the 2011 Act. Independent examlnevs ststement I have completed my examination. I confirm that no rnatters have come lo my allenlion in connection with the examination giving me cause to beIve that in any mate¥ial respect.. accounting records were not kepl in respect of the charlty as réquired by section 386 of the 2006 Act.. or the financial slalemenls do not accord with those reroids., or the financial slatements do not comply with the accounting requirements of secllon 396 of the Act other than any requirement that the acct)unts give a true and fair wew whith 18 not a matter considered as part of an independent examination., or financial slalernents have not been k¥epared in accordancè with the methods and Principles of the 6tatement of Recornmended Prac<ice .lor accounting and .reporting by charities applicable to charities preparing their accounts in aceord3nc6 wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no Concerns and have come across no other malters in connection vAth thé éxaminatton to whh attention should be drawn in Ihis report in order lo enable a proper tjnderstanding of the financial slalement51o be reached. Davld Tgrry FCA Ramon L•• Ltd Chartèr•d Accountallts 93 Tabemacle Stroot London EC2A 4BA Dated.. 12 Deogmber 2025
THE HOXTON TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unr8strietsd Restricted funds funds Total 2025 Totsl 2024 Notes Incomè from.. Donation¢ and legaaes Gharitable actiwties Olher trading aclimlias 8,866 8,866 97,143 76,951 3,195 112,852 78,323 97.143 76.951 Totsl income 85,817 97,143 182,960 194.370 Ex nditure on: Raising funds Charitable activities 27,456 53,975 27,456 151.118 20,458 182,430 97,143 Total expèndlturg 81,431 97.143 178,574 202,888 Net Incomellexpendltural for the yearl Net movement In funds 4,386 4,388 18.5181 Fund balances at 1 April 2024 47.817 47,817 56.335 Fund balances at 31 MarGh 2025 52.203 52,203 47,817 The statement of financial actiwlies indudes 811 gains and Iossos recognised in the yéar. All in¢ome and expendlture dertve Irom continuing activities. The slalèment of financial aelThiities also mplI9 Wlth the requiremènts for an income and Expenditure account under the Companies Act 2006. The notes on pages 12 10 21 form part of these financkql staternenls. 10
THE HOXTON TRUST BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Not85 Fix8d assets Tangible as5els 11 183 424 Cuffènt assats Debtors Cash at bank and In hand 12 3.000 64.166 3,282 5Q,420 67,166 53.702 Credlttsrs: amounts falling due within one yèar 13 11S,1461 16.3091 Nel current 8ssel$ 52,020 47,393 Total assets less Gurrant Ilabilities 52.203 47,817 Income funds Llnrestricted funds 52,2Q3 47.817 52,203 47,817 The notes on pagès 12 to 21 form part of these financial sialemenls. The company is entilled.to the exemplitsn from the audit requirement contained in sedlon 477 of the Companies Act 2006. for the year ended 31 March 2025. The directors acknowledge Ih8ir responsibilities for.. ensuring that the eharilable company kéeps accounting reccwds that comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial slalements which giv¢ a Irue and fair vtew of the sl8le of affairs of the i*arilablè cornpany as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the rèqkjiremenls of Seclions 394 and 395 and which olhewwise comply with the requirements of the Companies Act 2006 rdating to financAal slalements, 50 f8r AS applicabk lo the charitable Company. The members have not required the ¢ompany to obtain an audit of its financial statements for the year in question in aCcran¢0 with section 476, These finan¢i81 statements havè been prepared Mi accordance with tho provisions applicable to companies subject lo thè small companies regime. The financial slal¢menls were approved by Ihe Twstees on 12 Qecèmber 2025 Ruth Lomax Cha5r am Adam$ Trustee Company.regi¥tr4tlon number 01659324
THE HOXTON TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Aecounting policies 1.1 Accounting eonventlon The Iinancial statements have been prépared in accordance with the charity's Memorandum and Arbdes of Association, th¢ Companies Aet 20C6, FRS 102 "The Financial Reporting Slandard applicable in thé UK 2nd Republic ol Ireland. I'FRS 102.1 anrt the Charities SORP "Accounting and Reporting by Charities.. sialeménl of Recommended Practice applicali',P .0 charilits) prepaiing their accounts in aecoidance with the FirrC?r.rial Reporting Standard applic8ble the UK and Republic of ITeland IFRS 1021" leffective 1 January 201 ¥1. The charity is a Public Benefit Entity as dofined by FRS 102. The char41y has taken athiantage ol the provisions in the SORP for charities not lo prepare a Stslernenl of Cash Fknws. The financial statements havè departed from the Charities (Accounts and Reports) Regulations 2008 only lo the extent required to prowde a true and fair view. This departUTe ha8 involved following the Statement ol Recommended Practice for cbarilies applying FRS 102 rather than the version of the Slatament of Recomménded Practice which is referred lo En Ihe Regulations but which has since been withdrawn. The financial stslemenls are prepared in sterting, which Is the functional currency of the charity. Moneiary amounls.in these financial statements are rounded to thè nèarest £. Th¢ financial slalemenls have bèen prepared under the historical c4)81 wnvelllK)n. The prinupal accounting policies adopted are set out bdow. 1.2 Going eoneém The charity's financial slalèments show a net surplus of £4,41212024 nel deficit of £8,518) for the year and free reserves of £52,02012024- £47,393) as al the year end. The Iruslees are of the view that these re8uIts aftd fundraising plans foT the fuluie have secured Ihe immediate future of thè d)arily for the next 12 months and on this basis the charity 18 a going concem. 1.3 Charitablè funds Unreslrict8d funds ar8 available for use al the dIsCli0n of the Iruslees in furtherance of thèir charitablè objedives. Reslrioled funds are subject lo speof1¢ condEtions by donors as lo how they may bé used. The purposes and uses of thé rèstricted fvnds are sel out In the notes lo Ihe financial statemènts. 1.4 Incomè Income is rec4)gnis8d whèn the charity has enlillemenl lo lh8 funds, any perf0rrnan condits'ons attached lo 'Iha item{sl of incomè .been rnel,.'il'is'probable Ihal'"Ihe..Sncome will be received and amount can be measured reliably. Income received by donations is included in full wi the Statement of FSnanrial Activities when rèeèived, unless they relate lo a specified future period. in whith case Ihey aro deferred. Income from charitable activlieS received by way of revenue granls and donations are credited to resl¥i¢led incoming on the èaElier date of when they are received OT when they are recaivablé, Ltnlèss they iel818 to a specified futur8 period, in which case they are deferred. Grants And donations of general nalure whleh are not conditional on delivering certain levels of serwce are indud¢d as part of Donations 9$ shown under Not8 2. Performance related grants and donations which havo condilions for a specific otslcome aré include as Income from Charitable Actiwlies as shovm in Note 3. Income from charitable activitias indude income Tecognised as earned {as th¢ r¢laled goods and services are provided) undèr contract. Rental income and service charge Income are credited lo income in the year in which they artr receivable. 12
THE HOXTON TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng policie5 Icontinuedl 1.5 Expenditurè ExpendilurF is recognised once there is a legal or consliuctlve obh'galion lo transfèr economic benefit lo a third party, it 58 probable that a transfer of èconomic benefits will be required in selllemant. and the atnotjnl of the obligation can be m.easured reliably. Expenditure is dassified by actiwity. The cDsls ol eaGh a¢tivity are rnsdè up of the total of direct costs and shared Costs, including support costs invotved in undertaklng each aclivily. Dire¢l costs allribLStable to a single activity are allocated directly lo that activity. Shared costs whith conlribule lo MO than one ACtivi(y and support costs whith are not atlribulable lo a single activsly are apportioned between Ihosa activities on a basis consistent with the use ol rèsources. Central staff costs a allocaled on the basis of lime spent, and dèweciation charges are allocaled on the portion of the asset's use. Allocation of support costs Support costs are those functions Ihal assist the work ol the charity but do not directly undertake chaiilable activities. Support costs include back office cosls, finance, peisonnel, payroll and goveinance costs which support the charity's programmes and adivilies. Those costs have been allocated beiween cost of Taising fund8 and expenditure on chariEablè 8CtiMties. 1.6 Tangib16 flxed assèts Tangible fixed assets are initially meaSUd al (x)sl and subsequently measured al cost or valualion, n81 of depreciation and any impairrnenl losses. Individual fÈxed assets costing £1,000 or more are capilalised at cost. Depreciat is recognised so as lo write off the ¢ost or valuation of assets sS their residual values over their s¢ful lives on thè tollowsng ba8es". F.ixlures, fjttlngs and equiptnonts Computer5 equipment8 25% straigh14inè method 25DA strAighl-line method The u8ln or1085 arising on the disposal of an assèt is determined as Ihe difference befv4een the sale proceeds and the carying value of Ihe asset. and is recognis8d in Ihe statement ol financial activit5. 1.7 Cash and cash èqulvalents Cash and cash equivalènts include cash in hand, dèposits held al call with banks, other short-lerm liquid investments with original malurities of three months or less, and bank overdrafts. Bank overdiaf15 are shown within borrowings in CLJrrent liabilities. 1.8 Taxation Thè charity a registÈred charity and, therefore. is not liable for Income Tax or Corporalioll Tax on income derived from ils charitable activities, a8 1118lls within the various exemptions availaN8 lo registered oharilies. 1.9 Creditors and Pmvisions Credilo¥s and Provisions arè récognised when the charily has a legal or constru¢tivè present obligation as a resull.of a'past event, it is probable that the charity wil be reqUId lo settle IhAI obligation and 8 ieliable estimate ¢an be made of the amount of the tsbligation. The amount recognised as a prov6sion is the be51 estimate of the considèration required 10 5ellle the present 0bllgali7 81 Ihe reporting end dale, taking into account the risks and uncertainlS surrounding the obligation. Where the effect of the Ilme value of money is material, th8 amount expected lo be required lo settle the obligation is re¢ognised al pr6seMI value. en a prowsion is mèasured al present value. the unwinding rjf the discount is recognised as a finance c051 in net ineomellexpendllurel in the period in which il arises. 13
THE HOXTON TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Icontinuedl 1.10 Volunteers and donAted seNices and facllltles Oonated professional serVe5 and donated facilities are recognised a$ income when the charity has control over the item, any conditions associated with the donated item have beert mèt, the receipt of econ(xMic benefit fiom the use by the charily of the item is probable and that economic benefi:. Ian be measured reliably. In accordance th Ihe Chaiitles SORP IFRS 1021, the general.10MIeeI lime of the charity is not rewgnisèd in the main boxty of the finan¢i81 statements, but deiail is contained in tha Trustees report. On receipt. donated wofessional services. donalod facilities and goods are recognised on the basis of the value of the gift lo the charily which is the amount the charity would have been willing to pay lo obtsin services or facilities ol equivalent economic benefit on the open maikel", a COTresponding amount is then recognised in expenditure in the pertod of reipl. 1.11 Debtors Trade and other debtors are recognised al the settlement amount due aftér any trade discount offered. Prepayments are valued al the amount prepaid net of any Irade discounts due. 1.12 Penslon The chaity operates a defined o)nlribulion pension scheme. The assets of Ibè scheme are held separaleEy from those of the company ni an independèntly admillislerod fund. The pension cost charge repregents contributions payable by the ¢harily to the fund. The chatily has no liability under the scheme other than for the payment ofthose contributions. Crltleal accounting estlmates and ludgements In the application ol the charity's accounting policies, thé Iruslees are required to make judgem9nls, estimates and assumptions aboul the carrying amount of assets alld liabilities that are not readily apparent from other sOuTs. The eslimales and associatèd assumptions aro based on hi5tarical èxperience and other f8Ctorn Ihal .4re c(Msidered to be felevanl.-Actual.results may differ from theGe.eslimales. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions lo accounting estimates are recognIs in the period in which the estimate Es revised whér@ th8 revision affects only that period, or in the pe0d of the revision and future period8 where the revision affe¢ts bolh curr8nl 8nd futtjré periods. Donations and18gacles Unrestrlcted funds Total 2025 Total 2024 Donations 8,866 8.866 3,195 8.866 8,866 3,195 For the year ended 31 March 2024 3,195 3.195 14-
THE HOXTON TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Charltable activitie¥ Logal Advlcel Communlty Restricted Mentsl Health Projècts Grants Prolect Total 2025 Total 2024 L. B. Hackney- Grant income City Bridge Trust Hackney Food Bank National Lottery Community Fund CIHWF Mind (Mental Health Projeell RBG City and Shoredil¢h PCN Julia RaLJsing Trust 13,898 13,896 37,000 8,901 19,811 31.470 37,000 8,901 23.071 14,500 2,WO 22,(0 3,750 3,750 24,000 9,596 24,0110 9,596 61,000 23,492 12,1 97,143 112,852 Analysis by fund ReStrted funds s1.0 23.492 12,651 97,143 112,8S2 61,0 23,492 12.651 97.143 112,852 For the yÈar endèd 31 March 2024 Reslri¢led funds e7,970 42,882 2,000 112,852 67.970 42,882 2,0 112,852 other tradlng activiti8S Unrestrict funds Total 2025 Toial 2024 Garden income Rental Incom8 Sales of Product Miwellaneous Inme 7,242 89.709 7,242 69,709 2.175 69,348 8,400 400 other trading activities 76,951 76.951 78,323 For the year end8d 31 March 2024 78.323 78.323 15-
THE HOXTON TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Raislng funds Unrestricted fund3 Totsl 2025 Total 2024 Staff costs Premises costs Share of support costs (see note 81 Share of governance costs {see nolo ai 18,117 8.4(JO 760 179 18,117 8,400 760 179 7.560 1,184 86 27.456 27.456 2Q.458 Ftsr the year ended 31 March 2024 Fundraising and publicity 20.458 20.458 20,458 20,458 Charitsble actlvltles Legal Advi¢el Communlty Mental Health Prolects Project Total 202S Total 2024 Staff wsls .Volunt8er expenses Prernises ctssts Other dlred project C08ts 70,641 1,046 8,401 fj1,297 36,033 1.600 8.401 1,8 106,674 2,646 16,802 12,955 117,859 2,334 15,120 17,070 91,385 47,692 139,077 152,383 Share of support costs {see notè 81 Shar8 of governance costs (see note 81 6,535 1,552 3,195 759 9,730 2,311 27,829 2,218 99,472 51,646 151,118 182,430 Analysls by fund Unreslricled funds Resliicted lunds 20,430 79.042 33,545 18.101 53.975 97.143 69,578 112.852 99.472 51,646 151,118 182,430 15-
THE HOXTON TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 Support costs Support Governancè osts costs Total 2025 Total 2024 Finan¢e And adminislralion staff CommunicatKJn and IT COSiS Legal and professional cos18 General Offi costs Independènt Examinerfs fees 3.623 5.252 922 693 3,905 ,252 18,215 555 2,304 922 693 2,490 2,490 10.490 2,490 12.980 31.231 Analysed beeen Fundraising Charitable actlvities 760 9,73Q 179 2.311 939 12,041 1,184 30,047 10,490 2.490 12,980 31.231 Net movement in funds 2025 2024 Nel movetnént in funds is stated after ehargingllcreililing) Independent 8xaminer's lees Oeprecialion ol owned tangible fixed asseis Oper8ting lease rent 2,4£0 241 8,000 2,304 1.100 8,000 10 Employees The average nurnber ol full- IiTlle equivalent Èmployees was as follows.. 2025 Number 2024 Numbér Dlrect charitablè work 2.80 2.80 Total 2.80 2.80 The average monthly number of èmployees during the year was.. 712024. 8) EEnploymènt costs 202S 2024 Salartes N81ional Insur8nc8 Pension costs 121,322 4,728 2.364 126,514 4,620 2,344 128,414 133,478 17
THE HOXTON TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 10 Employees Icontinuedl No Iruslees received resmbursed expenses dvring the year12024- £nill. Th@ key management pèrsonnol of the charity comprise Ihe Executive Dire¢tor. The total empknyee benefits of the key management personnel ol the clarity were £36,23512024 - £39.Q461. There were no employees whose annual remuneration was rnore than £60,000. 11 Tanglbla fixèd assets Flxtures, Computers Ilttlngs and equlpmbnts equlpfflent8 Total 2023 Cost Al 1 April 2024 21,797 6,842 28,639 Al 31 M3rch 2025 21,797 6,842 28,639 Deprecia0 and Impalrment Al 1 April 2(J24 D6pr6oatiOTTr charged in the year 21,522 92 6.693 149 28,215 241 Al 31 March 2025 21,614 8.842 28,456 Carrying amount Al 31 Marth 2025 183 183 ..Al 81 Ilar(* 2(r24 275 149 424 12 Debtorn 2025 2024 Amounts falling duè within one year. ArLrued Income 3,000 3.282 3,000 3,282 13 Creditors: amounts falling wlthin one year 2025 2024 Taxation aThJ soaal 8e¢urity Deferred incorne Other creditors Accruals 2,796 8,901 292 3.157 1,838 1,000 424 3,047 14 15,146 6.309 18-
THE HOXTON TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 14 Deferred Income DeferTed income is included in the financial statements as follows.. 2025 2024 Movements in the yesr. Delerreo i*icome al 1 April 2024 Relèased from previous periods Resources deferred in the year 1.000 11,0001 8,901 1,000 Deferred income at 31 March 2025 8,901 1.OOf) 19-
THE HOXTON TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 15 Restrlctsd funds The income funds of the charity include rÈslri¢ted (unds comprising the following unexpended balance5 of donation5 and grants held on Irust lor specific purposÈg'. Mov•m8nt In funds Incomlrtg Rè$ourGo6 r8sour¢as èxpendèd l Aprll 2024 Movement In fund5 Incoming R650urce$ resources 8xpend8d Balanc4 at 31 March 2025 City Bridge Twsl National Loltery Community Fund CIHWF Mlnd (Mèntal Health Project) City and Shor8dileh PCN RBG L. B. Hackney .Julia Rausw)g Trust Hacknèy Food Bank 31,470 131,4701 37,000 137,0001 23,071 123,071) 14,500 22,JOO 2,000 19,811 114,500) 122.0001 12,tii)01 119,8111 24,000 3,75Q 13,896 9,5g6 8,901 P4,0001 13,75Ql 113,8961 19,5g61 18,9011 112,852 {112,8521 97,143 197,1431 Descriptlon. nature and purposo of restrictsd funds: Clty Bridge Tru8t- Funding towards the costs of Ihe free legal advice seNi¢e at 156 Hoxlon St. atlonal Lottery Communlty Fund Funding lo contract a Gardan Manager lo deliver garden activities in the summér of 2023 Funding towards the 8dditional costs associated with the cost of living ttisis CIHWF Mlnd- Funding for a health and wèllb8ing pilot project in the comrnunily u8rden. City And Shoreditch PCN- fundinu forlhe dellvery of 'advice in health care sellings. activity. RBG- funding for a garden proj8Ct in tho summer of 2024. L. B. Ha¢kney (London Community Response Fund) F.undlng for the delivery Dl'Adyiee.in HÈa1th.ca s8ttings' proj Funding towards easing the cost of living uisis for Tesidenls Funding low8rds collaboraling with the Hackney Money Hub Funding towards a Windrush 75 celebration event Julla Rauslng Trust- Funding towards the costs ofthe Community Gardener Hackney Food Bank. Funding tow8rds thè costs of a Legal Adviser. -20-
THE HOXTON TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 16 Analysis of net assets between funds Unrestricted Restricted funds funds Total Unrestricted Restricted 2025 fund5 funds Total 2024 Fund bal8n¢xs at 31 March 2025 are represented by.. Tangible a55ots Current assels]{liabilities) 183 52,020 183 52.020 424 47,3S3 424 47,393 52,203 52.203 47,817 47,817 17 Operating leasg commltments 202S 2024 Imthin one ar Between two and five year5 8,Qk)O 32.000 8,000 32.QOO 40,000 40,OQO 18 Pension The pènsion cost charge represenls ctsntributions payable by the charity to the fund and amounted to £2,414{2024 £2,677). Contributions totslling £292 {2024 - £424) ware payable to the fund at the yeai Ènd and are inGluded in creditors. 19 Related party transactions Theye wer8 none related party this year, Ouring the year 2024 - £2.600 from The Migiant Law Partnership Ltd in which Rithard Bartram is th8 sole difectoi. There are no other related parly Iransadions. 20 Share Capltal Thè eA)mpany 18 limited by guarantee and does not havè a share capiial divided by shares. 21