Annual Report and Financial Statements 2022-2023 - Flipbook - Page 10
Trustees’ and Directors’ report incorporating the
Strategic Report
OUR OBJECTIVES AND ACTIVITIES
The charity’s objectives are:
4 Toconservetheenvironmentforthebeneotofthe
public including:
– the conservation and maintenance of the
character and amenity of rural, urban and innercity areas
– the maintenance and management of nature
reserves and other sites of biological, scientific or
environmental importance
4 Toeducatethepublicinprinciplesofconservation
through volunteering and community support
4 Toadvancetheeducationofthepublicthroughthe
provision of training, in particular:
– in practical conservation skills
– basic skills
– skills to improve employment prospects
4 Todevelopthecapacityandskills/primarilythrough
volunteering opportunities, of the public at large
and those who by reason of youth, age, infirmity
or disability, poverty or economic and social
circumstances, have need of such facilities with the
object of improving their conditions of life.
Trustees have complied with their duty to have due
regard to the Charity Commission’s public benefit
guidance when exercising any powers or duties to which
the guidance is relevant.
OUR OUTCOMES AND HOW
WE DELIVER THEM
Environment
Green spaces are created, protected and improved, for
nature and for people. Our work with the environment
underpins all our other outcomes.
TCV delivers hands on, practical action – planting trees,
increasing biodiversity and improving green spaces. TCV
delivers nature-connections for those who need it most.
Health & Wellbeing
People improve their physical and mental health and
wellbeing by being outdoors, active and connected
with others.
TCV delivers meaningful group-based physical activity
reducing isolation and improving health and wellbeing.
Communities
Communities are stronger, working together to improve
the places where people live and tackle the issues that
matter to them.
TCV delivers Community connections supporting and
empowering communities to make change – creating
community green spaces and networks that build a
sense of belonging.
10TCV Annual Report and Financial Statements 2022-23
Learning & Skills
People improve their confidence, skills and prospects,
through learning inspired by the outdoors.
TCV delivers nature-based learning and skills providing
experience, training and qualifications in green spaces
for people of all ages.
Examples of activities delivered this year, which each
contributed to one or more of these outcomes, can
be found throughout the preceding pages of this
document.
FINANCIAL REVIEW
TCV reported net expenditure, before gains and
revaluations, of £373k for the year (2022: net income
before gains and revaluations of £467k) arising from
increased costs of delivering charitable activity and
investment in new roles in both operations and support
teams. The charity also invested in the implementation
of the income generation strategy which was developed
in the previous year with an objective to increase TCV
unrestricted income over the medium term.
Notwithstanding the net expenditure incurred in the
year, the charity retained its available unrestricted
reserves at just above the mid-point of the reserves
policy range approved by Trustees of between 7 and 14
weeks of unrestricted expenditure.
The charity closed the year with reserves of £4,015k
(2022: £4,388k), with unrestricted reserves of £2,316k
(2022: £2,489k), including available unrestricted
reserves of £1,373k (2022: £1,577k) and capital reserves
of £742k (2022: £711k).
INCOME
Charitable activities
Coronavirus Job Retention
Fund
Other trading activities
Investment income
Donations and legacies
Other
Total income
2023
£’000
10,716
62
66
217
11,061
2022 Change
£’000 £’000
8,868
1,848
32
131
290
12
9,333
(32)
(69)
66
(73)
(12)
1,728
Income increased by £1,728k to £11,061k in the year as
follows:
Incomefromcharitableactivitiesincreasedby21g
to £10,716k, arising from new funding for charitable
projects and a significant increase in the scale of tree
planting with volunteers, and through fulfilment of trees
for major contracts including OVO Energy, Greater
London Authority, and the Northern Forest.
