**Company registration number 02544208 (England and Wales)**
**Charity registration number 1000575 (England and Wales)**
## **FRIENDS OF LEICESTER CITY FARM LIMITED**
# **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2025**
## **FRIENDS OF LEICESTER CITY FARM LIMITED**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|David Hirst (Treasurer)||
|---|---|---|
||William Matthews||
||David Payn||
|**Country of incorporation**|United Kingdom|02544208|
||(England and Wales)||
|**Charity registration**|England and Wales|1000575|
|**Principal address**|Gorse Hill City Farm||
||Anstey Lane||
||Beaumont Leys||
||Leicester||
||LE4 OFJ||
|**Registered office**|Gorse Hill City Farm||
||Anstey Lane||
||Beaumont Leys||
||Leicester||
||LE4 OFJ||
|**Independent examiner**|Thomas Mayfield BA FCA||
||Mayfield & Co (Accountants) Ltd||
||2 Merus Court||
||Meridian Business Park||
||Leicester||
||LE19 1RJ||
|**Bankers**|Lloyds TSB||
||High Street||
||Leicester||
||LE1 4FP||
## **FRIENDS OF LEICESTER CITY FARM LIMITED**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees report|1 - 5|
|Independent examiner's report|6|
|Statement of financial activities|7|
|Balance sheet|8 - 9|
|Notes to the financial statements|10 - 19|
## **FRIENDS OF LEICESTER CITY FARM LIMITED**
## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
The trustees present their annual report and financial statements for the year ended 31 March 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016)
## **Objectives and activities**
The objectives of the charity are:
To provide an educational and recreations resource for the citizens of Leicester, and to increase the participation of people in environmental activities by:
a) Providing learning, recreation and leisure opportunities without distinction to help improve life chances, particularly for those who have the need for such facilities by reason of their youth, age, infirmity or disablement, poverty or social and economic circumstances;
b) Making land attractive and productive, in an environmentally ethical manner;
c) Encouraging participation by all sections of the community, especially those who through reasons of poverty or disability find it difficult to visit the countryside;
d) Maximising awareness about environmental, educational, horticultural and animal husbandry issues;
e) Providing a facility for community activities in the widest social and cultural context, recognising the needs of all, but especially racial and other minority groups living in Leicester.
## **Public Benefit**
The Charity, through its work with the farm, offers the public an opportunity to see farm animals on their doorstep within the city boundary. It is very rewarding to see the reaction of children seeing a particular animal for the first time – no matter how commonplace the particular animal may be considered by others - and newborn animals. The charity also has a collection of rare breeds and this will only enhance the experience. It needs to be recognised that many children are not taken away from their immediate home area in the city by their parents.
The Charity works with various disadvantaged groups and offers them worthwhile and practical experiences.
The school programme is a vital service supporting local education, and is complemented by the volunteers programme for children aged 16 and over to learn basic animal welfare.
Similarly the education programme is vital service to the local community. In the current climate jobs are harder to get and the training offered by the farm and its partners enhances the ability to secure work.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
- 1 -
## **FRIENDS OF LEICESTER CITY FARM LIMITED**
## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **Achievements and performance**
This year has seen some changes in the farm, last year and before many of our animals did not belong to trust and were on loan with farmers and any breeding that was done the newly born animals often went back to the farmers, all of the animals we now have at the farm all belong to the trust which in turn means the sale of any animal is put back into the farm.
Visitor numbers to the farm were lower in this period and much of the visitor number we get are based on the weather and with rainy days this does put people of visiting, out foot fall was just under 25k which is down from the previous year.
Our education income was lower compared to the previous year, much of this was due to the fact previously we had been involved in the HAF (Holiday Activities and Food) Scheme funded by the government following the pandemic and cuts in local government spending.
We now have “Equinox Outdoor Learning” who work with us at the farm, which is alternative type of Schooling, they are here every week during term time with their pupils, and it is helping with our education program.
We have seen an increase on the previous year memberships, throughout the year 104 were sold, this would include many from Brooksby College and Leicester College on work placement, and this is for farm work, café work and admin work.
The farm continues to be a part of the community with many regular volunteers who have many different types of disabilities, and many through their time here learn great life skills and gain personal confidence.
The Farm worked closely this year a charity called “LCH Charity – Lifting Children’s Hopes”, we had the first of annual event where the farm was closed to the public for a day in September and the LCH had the whole site with a large event with a stage and music and a fairground. The event was a success, and they have already booked a future venue.
The farm also had a return visit from the Fairground and the Dinosaurs puppets.
Funding for the farm is often a struggle in this day and age, with costs going up and funding coming down, and the farm would not survive without the generous donations of the public and visitors. Many businesses also make donations of equipment and services, which are always gratefully received.
## **Financial review**
There was a small surplus of £101 on the restricted funds (2024: deficit of £175) which is down to the restricted grant expenditure and depreciation on assets bought from grant income a number of years ago.
On our unrestricted funds we reported a surplus of £4,138 (2024: deficit of £11,685).
The trustees believe these results to be a reflection of a set of unique operating conditions and when the economy starts to improve the results of the charity will also improve.
Reserves are overdrawn at £60,742 (2024: £64,981) comprising restricted funds of £265 and overdrawn unrestricted funds of £61,007.
The Charity has been operating on much reduced local authority funding which has created extreme challenges and with the Pandemic on top it has been a greater challenge
The drive to become self-sufficient has been challenging and in the short to medium term an expensive process which has meant utilising our built up reserves in order to pursue opportunities to create a self-sufficient policy.
The charity continues to nurture rare breeds on the farm to enhance both the farm's reputation and the visitor experience. It is further recognised that the rare breeds facilitate greater media coverage and thereby gain free publicity for the farm. The farm's website will also benefit from the inclusion of information and photographs of the rare breeds and these should also improve the farm's position when people complete searches when browsing the web.
- 2 -
## **FRIENDS OF LEICESTER CITY FARM LIMITED**
## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **Reserves Policy**
The trustees/directors have a target that the free reserves held by the charity should be equivalent to approximately 6 months of the resources expended: at this level the trustees/directors feel that they would be able to continue the current activities of the charity in the event of a significant drop in funding although obviously it would be necessary to consider how the funding would be replaced or the activities would be changed. The free reserves are currently in deficit which is not an ideal position to be in. However, the trustees believe that with better economic conditions hopefully in the future these results can be overturned and the charity can get back to a more normalised position.
## **Future Funding**
The future prosperity of the charity will be dependent upon visitor numbers being maintained or growing and education visits, alongside applying for grant funding where possible. Financial donations and donations of time and materials from local companies are always welcomed.
## **Investment Policy**
The trustees/directors have considered the way in which the charity invests its funds and considers the most appropriate approach is for its money to be held in a single account - however the charity has a second account lying dormant should the need arise for separate banking in connection with any grant that may be secured in the future.
## **Risk Management**
The trustees/directors have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that the systems are in place to mitigate their exposure to the major risks.
The Charity's short-term aims are to find new sources of income by improving the publicity of the farm and events programme to increase visitor numbers and thereby donations and potentially memberships and adoptions; by seeking out potential sponsors and corporate members; by finding new training partners to increase trainee numbers; by working with head teachers from city schools to improve education services; and finally by improving the identification of and application for potential grants.
The core buildings of the farm and central courtyard are over 25 years old and are in the need of early renovation: the trustees/directors and farm staff continue to seek out potential grant bodies and sponsors to achieve this. However suitable grants are becoming more difficult to identify and secure with the economic situation having reduced the available funding.
The Charity's long-term aims are to enhance the public awareness of the farm through identifying new ways of marketing the farm; to re-evaluate the Charity's current feasibility plans and to prepare a business plan; to develop educational services to the local community; to sustain an on-going breeding programme for the farm with greater focus on rare breeds; to secure grant and other funds for planned developments; and, as finances permit, to build up the level of free reserves over time to offer greater sustainability.
- 3 -
## **FRIENDS OF LEICESTER CITY FARM LIMITED**
## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **Structure, governance and management**
Friends of Leicester City Farm Limited is a registered charity and a company limited by guarantee.
The Charity is governed by its Memorandum and Articles of Association dated 28 September 1990.
On 18 April 2008 and 26 October 2008 the Charity's Memorandum and Articles of Association were amended to better reflect the objectives of the charity.
The Charity is also known as Gorse Hill City Farm.
In the event of the company being wound up members are required to contribute such amount as may be required not exceeding:
a) in the case of members of eighteen years and over the sum of £1 and
b) in the case of members under eighteen years the sum of 5p provided only that
c) in the case of members under eighteen years but over sixteen years the amount may be increased from 5p to £1 by resolution of the association.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
David Hirst (Treasurer)
William Matthews
David Payn
## **Recruitment and appointment of Trustees**
The appointment of trustees/directors is governed by the Memorandum and Articles of Association.
The number of trustees/directors appointed should not be less than 3 or more than fifteen.
The trustees/directors are authorised to appoint trustees/directors in accordance with the following provisions:
a) Any person resident or employed within the District of Leicester City shall be eligible provided that the appropriate entry fee and/or annual subscriptions are paid.
b) Any person resident or employed outside the District of Leicester City shall be eligible provided that at the discretion of the Association such person has some interest or concern which would benefit the Association and provided that they pay the appropriate entry fee and/or subscriptions.
c) Any corporate body or incorporated association which makes use of the facilities provided may be admitted at the Associations discretion.
d) Any corporate body, partnership, unincorporated association which contributes to the work of the Association may be admitted at the Associates discretion.
## **Organisational Structure**
The trustees/directors meet on a regular basis throughout the year.
The day to day running of the charity is carried out by the Farm Manager and staff employed by the Charity.
The Charity employs a small group of experienced staff who together offer the relevant experience needed to run Gorse Hill City Farm and the administration of the charity.
- 4 -
## **FRIENDS OF LEICESTER CITY FARM LIMITED**
## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
The trustees report was approved by the Board of Trustees.
David Payn **Trustee**
13 March 2026
- 5 -
## **FRIENDS OF LEICESTER CITY FARM LIMITED**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF FRIENDS OF LEICESTER CITY FARM LIMITED**
I report to the trustees on my examination of the financial statements of Friends of Leicester City Farm Limited (the charity) for the year ended 31 March 2025.
## **Responsibilities and basis of report**
As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
- 4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
## **Thomas Mayfield BA FCA**
Mayfield & Co (Accountants) Ltd
2 Merus Court Meridian Business Park Leicester LE19 1RJ
13 March 2026
- 6 -
## **FRIENDS OF LEICESTER CITY FARM LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2025**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**3**
25,142
375
Other trading activities
**4**
192,712
-
Investments
**5**
10
-
**Total income**
217,864
375
**Expenditure on:**
Charitable activities
**6**
213,726
274
**Total expenditure**
213,726
274
**Net income/(expenditure) and**
**movement in funds**
4,138
101
**Reconciliation of funds:**
Fund balances at 1 April 2024
(65,145)
164
**Fund balances at 31 March 2025**
(61,007)
265|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2024**
**2024**
**£**
**£**
**£**
25,517
13,093
1,125
192,712
191,744
-
10
-
-
218,239
204,837
1,125
214,000
216,522
1,300
214,000
216,522
1,300
4,239
(11,685)
(175)
(64,981)
(53,460)
339
(60,742)
(65,145)
164|**Total**
**2024**
**£**
14,218
191,744
-
205,962
217,822
217,822
(11,860)
(53,121)
(64,981)|
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 7 -
## **FRIENDS OF LEICESTER CITY FARM LIMITED**
## **BALANCE SHEET**
## _**AS AT 31 MARCH 2025**_
|||**2025**||**2024**||
|---|---|---|---|---|---|
||**Notes**|**£**|**£**|**£**|**£**|
|**Fixed assets**||||||
|Tangible assets|**12**||2,856||3,954|
|**Current assets**||||||
|Stocks|**13**|13,469||1,712||
|Debtors|**14**|2,008||3,017||
|Cash at bank and in hand||102||473||
|||15,579||5,202||
|**Creditors: amounts falling due within one year**|**16**|(56,536)||(50,743)||
|**Net current liabilities**|||(40,957)||(45,541)|
|**Total assets less current liabilities**|||(38,101)||(41,587)|
|**Creditors: amounts falling due after more than**||||||
|**one year**|**17**||(22,641)||(23,394)|
|**Net liabilities**|||(60,742)||(64,981)|
|**The funds of the charity**||||||
|Restricted income funds|**19**||265||164|
|Unrestricted funds|**20**||(61,007)||(65,145)|
||||(60,742)||(64,981)|
- 8 -
## **FRIENDS OF LEICESTER CITY FARM LIMITED**
## **BALANCE SHEET (CONTINUED)**
## _**AS AT 31 MARCH 2025**_
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these financial statements.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the trustees on 13 March 2026
David Hirst (Treasurer)
## **Trustee**
- 9 -
## **FRIENDS OF LEICESTER CITY FARM LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **1 Accounting policies**
## **Charity information**
Friends of Leicester City Farm Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Gorse Hill City Farm, Anstey Lane, Beaumont Leys, Leicester, LE4 OFJ
## **1.1 Basis of preparation**
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
These financial statements are prepared on the going concern basis. The trustees have a reasonable expectation that the charity will continue in operational existence for the foreseeable future, however, the trustees are aware of certain material uncertainties which may cause doubt on the charity's ability to continue as a going concern. The Trustees are aware of the adverse position of the Balance Sheet but believe the entity can operate through the current negative position and return to a position of solvency.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are those funds which are used for specific purposes as stated within the terms when the income is received.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
- 10 -
## **FRIENDS OF LEICESTER CITY FARM LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **1 Accounting policies**
**(Continued)**
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Raising funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes including the charity's shop.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold property Straight line over the life of the lease Leasehold improvements 10% straight line Plant and machinery 10% reducing balance Fixtures, fittings & equipment 25% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
## **1.7 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## **1.8 Stocks**
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
- 11 -
## **FRIENDS OF LEICESTER CITY FARM LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **1 Accounting policies**
## **(Continued)**
## **1.9 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.10 Financial instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measures at their settlement value with the exception of bank loans, which are subsequently measured at amortised cost using the effective interest method.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
## **1.11 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **1.12 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
## **1.13 Farm animals**
No valuation is made of the animal collection at the end of each year. Purchases and sales appear in the financial statements as revenue items in the year in which they arise.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
- 12 -
## **FRIENDS OF LEICESTER CITY FARM LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **3 Income from donations and legacies**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2025**
**£**
**£**
Donations and gifts
10,078
-
Grants
-
375
Donated goods and services
12,020
-
Other
3,044
-
25,142
375
**Grants**
Groundwork UK
-
375
-
375|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2024**
**2024**
**£**
**£**
**£**
10,078
10,333
-
375
-
1,125
12,020
-
-
3,044
2,760
-
25,517
13,093
1,125
375
-
1,125
375
-
1,125|**Total**
**2024**
**£**
10,333
1,125
-
2,760|
|---|---|---|
|||14,218|
|||1,125|
|||1,125|
## **4 Income from other trading activities**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2025**|**2024**|
||**£**|**£**|
|Non-charitable trading activities|119,288|118,499|
|Membership subscriptions and sponsorships|2,033|3,385|
|Shop income|4,698|7,551|
|Other income|66,693|62,309|
|Raising funds|192,712|191,744|
|**Income from investments**|||
||**Unrestricted**|**Unrestricted**|
||**funds**|**funds**|
||**2025**|**2024**|
||**£**|**£**|
|Interest receivable|10|-|
## **5 Income from investments**
- 13 -
## **FRIENDS OF LEICESTER CITY FARM LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **6 Expenditure on charitable activities**
||**Charitable**|**Charitable**|
|---|---|---|
||**activities**|**activities**|
||**2025**|**2024**|
||**£**|**£**|
|**Direct costs**|||
|Staff costs|83,189|69,043|
|Depreciation and impairment|1,242|1,333|
|Purchases|3,061|4,703|
|Rent|1,112|1,100|
|Rates and water|4,389|4,107|
|Light and heat|13,522|5,907|
|Farm repairs and maintenance|10,104|17,769|
|Insurance|5,117|3,835|
|Animal feed and welfare|20,083|20,074|
|Motor and travel expenses|-|55|
|Telephone charges|1,837|1,762|
|Advertising and promotions|-|338|
|Printing, postage and stationery|1,231|926|
|Sundry expenses|1,017|1,330|
|Equipment hire|1,443|1,392|
|Cafe expenses and food purchases|52,257|60,218|
|Other charitable expenditure|4,601|15,077|
||204,205|208,969|
|**Share of support and governance costs (see note 7)**|||
|Governance|9,795|8,853|
||214,000|217,822|
|**Analysis by fund**|||
|Unrestricted funds|213,726|216,522|
|Restricted funds|274|1,300|
||214,000|217,822|
|**Support costs allocated to activities**|||
||**2025**|**2024**|
||**£**|**£**|
|Governance costs|9,795|8,853|
|**Analysed between:**|||
|Charitable activities|9,795|8,853|
**7 Support costs allocated to activities**
- 14 -
## **FRIENDS OF LEICESTER CITY FARM LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
|**8**|**Net movement in funds**|**2025**|**2024**|
|---|---|---|---|
|||**£**|**£**|
||The net movement in funds is stated after charging/(crediting):|||
||Fees payable for the independent examination of the charity's financial statements|1,000|1,000|
||Depreciation of owned tangible fixed assets|1,242|1,333|
## **9 Trustees**
None of the trustees (or any persons connected with them) received any remuneration during the year, and none of them were reimbursed for travelling expenses (2024- £nil).
## **10 Employees**
The average monthly number of employees during the year was:
||**2025**|**2024**|
|---|---|---|
||**Number**|**Number**|
||13|5|
|**Employment costs**|**2025**|**2024**|
||**£**|**£**|
|Wages and salaries|82,194|68,180|
|Other pension costs|995|863|
||83,189|69,043|
There were no employees whose annual remuneration was more than £60,000.
## **11 Taxation**
The charity's activities fall within the exemptions afforded by the provisions of the Income and Corporation Taxes Act 1988. Accordingly, there is no taxation charge in these accounts.
- 15 -
## **FRIENDS OF LEICESTER CITY FARM LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **12 Tangible fixed assets**
|**Cost**
At 1 April 2024
Additions
At 31 March 2025
**Depreciation and impairment**
At 1 April 2024
Depreciation charged in the year
At 31 March 2025
**Carrying amount**
At 31 March 2025
At 31 March 2024|**Leasehold**
**property**
**Leasehold**
**improvements**
**Plant and**
**machinery**
**Fixtures, fittings**
**& equipment**
**£**
**£**
**£**
**£**
229,860
8,180
15,862
52,855
-
-
-
144
229,860
8,180
15,862
52,999
229,586
7,736
13,765
51,716
274
63
209
696
229,860
7,799
13,974
52,412
-
381
1,888
587
274
444
2,097
1,139|**Total**
**£**
306,757
144|
|---|---|---|
|||306,901|
|||302,803
1,242|
|||304,045|
|||2,856|
|||3,954|
Leicester City Council is the freehold owner of the property and leased to the Friends of Leicester City Farm Limited and the farm's current interest in the property is a 15 year lease.
Restricted funds include assets that have been fully depreciated during the year, resulting in a net book value of £nil (2024: £274). Depreciation charged in the year was £274 (2024: £274).
## **13 Stocks**
|**13**
**Stocks**|||
|---|---|---|
|Animals
**14**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Other debtors|**2025**
**£**
13,469
**2025**
**£**
1,086
922
2,008|**2024**
**£**
1,712|
|||**2024**
**£**
2,577
440|
|||3,017|
- 16 -
## **FRIENDS OF LEICESTER CITY FARM LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **15 Loans and overdrafts**
|Bank loans
Payable after one year
**16**
**Creditors: amounts falling due within one year**
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
**17**
**Creditors: amounts falling due after more than one year**
**Notes**
Bank loans
**15**
**18**
**Retirement benefit schemes**
**Defined contribution schemes**
Charge to profit or loss in respect of defined contribution schemes|**2025**
**£**
22,641
22,641
**2025**
**£**
7,326
24,232
22,578
2,400
56,536
**2025**
**£**
22,641
**2025**
**£**
995|**2024**
**£**
23,394|
|---|---|---|
|||23,394|
|||**2024**
**£**
4,817
23,419
20,107
2,400|
|||50,743|
|||**2024**
**£**
23,394|
|||**2024**
**£**
863|
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
- 17 -
## **FRIENDS OF LEICESTER CITY FARM LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **19 Restricted funds**
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
||**At 1 April 2024**|**Incoming**|**Resources**|**At 31 March**|
|---|---|---|---|---|
|||**resources**|**expended**|**2025**|
||**£**|**£**|**£**|**£**|
|General Restricted funds|65|-|(65)|-|
|Groundwork UK|99|375|(209)|265|
||164|375|(274)|265|
|**Previous year:**|**At 1 April 2023**|**Incoming**|**Resources**|**At 31 March**|
|||**resources**|**expended**|**2024**|
||**£**|**£**|**£**|**£**|
|General Restricted funds|339|-|(274)|65|
|Groundwork UK|-|1,125|(1,026)|99|
||339|1,125|(1,300)|164|
## **20 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
||**At 1 April 2024**|**Incoming**|**Resources**|**At 31 March**|
|---|---|---|---|---|
|||**resources**|**expended**|**2025**|
||**£**|**£**|**£**|**£**|
|General funds|(65,145)|217,864|(213,726)|(61,007)|
|**Previous year:**|**At 1 April 2023**|**Incoming**|**Resources**|**At 31 March**|
|||**resources**|**expended**|**2024**|
||**£**|**£**|**£**|**£**|
|General funds|(53,460)|204,837|(216,522)|(65,145)|
- 18 -
## **FRIENDS OF LEICESTER CITY FARM LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **21 Analysis of net assets between funds**
||**Unrestricted**|**Restricted**|**Total**|
|---|---|---|---|
||**funds**|**funds**||
||**2025**|**2025**|**2025**|
||**£**|**£**|**£**|
|**At 31 March 2025:**||||
|Tangible assets|2,856|-|2,856|
|Current assets/(liabilities)|(41,222)|265|(40,957)|
|Long term liabilities|(22,641)|-|(22,641)|
||(61,007)|265|(60,742)|
||**Unrestricted**|**Restricted**|**Total**|
||**funds**|**funds**||
||**2024**|**2024**|**2024**|
||**£**|**£**|**£**|
|**At 31 March 2024:**||||
|Tangible assets|3,954|-|3,954|
|Current assets/(liabilities)|(45,705)|164|(45,541)|
|Long term liabilities|(23,394)|-|(23,394)|
||(65,145)|164|(64,981)|
## **22 Related party transactions**
During the year the charity received a loan from trustee Dave Payn. At the balance sheet date the balance outstanding was £6,650. The loan is unsecured, interest-free, and repayable on demand.
During the year the charity also received a loan from Val Hirst, the spouse of trustee Dave Hirst. At the balance sheet date the balance outstanding was £15,739. The loan is unsecured, interest-free, and repayable on demand.
The trustees confirm that these loans were approved in accordance with the charity’s governing document and were considered to be in the best interests of the charity.
No related party transactions took place in the previous year.
- 19 -
|REF. NUMBER
**Q9WY7-ZUF2E-FQUKR-TWTNT**
DOCUMENT COMPLETED BY ALL PARTIES ON
**13 MAR 2026 15:14:59**
**UTC**
**SIGNER**
**TIMESTAMP**
**SIGNATURE**|
|---|
||
|**DAVE HIRST**
EMAIL
**DAVE.HIRST@GORSEHILLCITYFARM.ORG.UK**
SENT
**13 MAR 2026 14:31:34**
VIEWED
**13 MAR 2026 14:58:48**
Dave Hirst|
|SIGNED
**13 MAR 2026 15:01:29**
IP ADDRESS
**92.207.28.70**
LOCATION
**CHISWICK, UNITED KINGDOM**
**RECIPIENT VERIFICATION**
EMAIL VERIFIED
**13 MAR 2026 14:58:48**|
||
|**THOMAS MAYFIELD**
EMAIL
**TOM@MAYFIELDANDCO.CO.UK**
SENT
**13 MAR 2026 14:31:34**
VIEWED
**13 MAR 2026 15:06:07**
ThowasMayfield|
|SIGNED
**13 MAR 2026 15:06:35**
IP ADDRESS
**109.73.121.1**
LOCATION
**BERKHAMSTED, UNITED KINGDOM**
**RECIPIENT VERIFICATION**
EMAIL VERIFIED
**13 MAR 2026 15:06:07**|
**Signed with PandaDoc**
PAGE 1 OF 2
|REF. NUMBER
**Q9WY7-ZUF2E-FQUKR-TWTNT**
DOCUMENT COMPLETED BY ALL PARTIES ON
**13 MAR 2026 15:14:59**
**UTC**
**SIGNER**
**TIMESTAMP**
**SIGNATURE**|
|---|
||
|**DAVE PAYN**
EMAIL
**DAVE.PAYN@GORSEHILLCITYFARM.ORG.UK**
SENT
**13 MAR 2026 14:31:34**
VIEWED
**13 MAR 2026 15:14:44**
DavePayu|
|SIGNED
**13 MAR 2026 15:14:59**
IP ADDRESS
**92.207.28.70**
LOCATION
**CHISWICK, UNITED KINGDOM**
**RECIPIENT VERIFICATION**
EMAIL VERIFIED
**13 MAR 2026 15:14:44**|
**Signed with PandaDoc** PAGE 2 OF 2