THE CHILDREN’S ADVENTURE FARM TRUST LTD
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
REGISTERED COI¥IPANI' NUI¥IBER: 02561611 (EiiglAn(l anil IVale5) REGISTLRED CHARI'I'Y NUINIBER: 1003675 REPORT OF THE TRUSTF.F.S AIYD FINANCIAL s'fA'I'LNIENTS FOR THE YEAR F.NDED 31 DECEIBER 2023 FOR THE CIIILDREN'S ADVEN'fiiRE FAR1 TRIIST LTD DJH Aiidil Liiiiiled Accoiiiilaiils Sialiilory Aiidilors Tlie Lxcl)ange 5 Baiik. Sireel Biiry BI.9 ODN
THE CHILDREN'S ADVENTURE FAR1 TRUST LTD CONTENTS OF THE FINANC.IAL STATEMENTS FOR THE YEAR ENDED31 DECEIIIBER 2023 PAge Chnirman's Reiiort Report of the Trustees Report of the Indepen(lent Au(litors StAlement of Fii)AnciAI Activities 12 StAlemeiit of Tr'inAneiAI Position 13 Stnlenient of C*$li Flows 14 Notes to tl)e Statement of CA511 Flows 15 Notes to the FiiiAnciAI SIAtements 16 10 26 Delnileil Stmlenienl of Fiilaneial Activities 27 10 28
THE CHILDRF.N'S ADVENTURE FARMI TRUST L'fD CHAIRMAN'S REPORT FOR THE YLAR ENDED 31 DECEINIBER 2023 It's with great pleasiire that we update you on another siiecessful year here al The Children's Adventure Farni Tnisl {CAFT). A year in ivhicli. thanks lo our siipwTrrters, voliinleers, Trustees and staff we were able lo provide iinique, life-eiiriching experiences for the Children who visiied lis this year. The services provided by CAFT are a haveii for those faniilies ivho have been 51niggling willi lh¢ cost of living ¢risis as well as vuliierable fai)iilies fighiii)g lo keep their heads above ivater. Throughoiit 2023 iv¢ ivilnessed parents askiiig for oiir l)¢lp lo try to ensiire that their childreii Are given the opporliiiiily lo eiijoy Ilie fun and freedom of childliix)d that should be taken for granted, bill for whoni Slicli experiei)ces are sadly OLIt of reacl). In siiinmary ive provided Ihe folloiving aclivities in 2023: Resideiitiftl breaks Slaying in either our 171h Century Fariiihouse or Respite Facility, children enjoyed a nien)orable lioliday wliich iVOLild oiheTh¥ise never be availiible lo them. For many Ihis wa5 111¢ first liiiie Iliey'd ever slayed away froni l)onie, aild il was i%'oiiderfiil lo see them increase in Confidence and independence Ihrough a progranime of fun. stiiiiulaling aiid ac cessible aclivilies. Day visits - It's important nol lo ui)deresliiiiale Ili¢ inipact of a day visil lo ('Al'.T. Ive conliniie 10 5¢e sonie iiicredible resiilis as cliildrei) reap the reivards of a day it) Ilie fresl) air and Iranqiiillily of the Cl)eshire COLlI)lryside. Me¢lii)g our aniiiials, explorii)g oiir 10 acre silL. gellii)g Iiiessy ai)d creative in IliL' Woodl¢ll)d l)Il eiijoyiiig Il)e freedoiii of oiir outdoor, c realive Sprfices. All out A(Iventure, 'Foresi Sehool, This amazing progr?( ti)me conlinlies lo go from slrengili lo slrengih and has seen soiiie gre2( I developmeiils in Ihc Ivoodland, includii)g a neiv Firepil shelter, additioiial se<11ing aiid ii)Jiiy neiv activity aaS Slich as ivaler play ai)d the fantastic Sensory Walkway. The cl)ildrcn have loved being oiiidoors in all IveAII)ers, learning abolit Iheir enviroiiiiieiil, and how they can enjoy, protect ai)d Conserve Ilieir i)alLiral surroundii)gs. EASter-thenie(I vislts Seasonal fiin iising Olir oiitdoor spaces, Iviih each cliild following the fiilly accessible Ensler Fgg trail (Iroiii)d CAFT, s olvii)g ¢lii¢s and tak'ing lioine their reivard of an Easter Egg, donated by oiir le<ll)) of stipporters. CA wffe5t Oiir anniial family festival was ivell received by faiiiilies ivho didn't liesilclte lo give Ilieir Child this type of fiin and L.xciliiig cxperiei)¢e dLie lo Ilieir pl)ysical, leaniing or social needs. Cliilclren visited Il)e iiiaiiy enlenaiiii)ienl zoiies al their own pace lo siiil 11)eir needs, iviih relaxed perfoniiaiices ivl)ich enslired all coiild participale and benefit. HnlloM'een-theme(l Tliis was a prograi))nie ivl)icl) saw children enjoying all the flin of Ihe Fam), Iviili a spooky hvisl. Crafts, ii)Iisic, s lorylelling, gaiJ)es ai)d lols of m£irshinalloiv loi( sling Rroiiiid Ilie C<?ii)pfire. Cl)rist111115 1?nrties F'cglive fiiii iii oiir Ivinler Ivonderlaiid for children iyl)ose pli}'si¢al, iiiedical, lean)ii)yJbehavioiiral iieed5 or social disadv(I1i12£ bJes iiiake il fi( r loo cl)alleiigiiiig lo eiigic ge iii sclioollcoiiiiiiliiiily Clirislit)£lS aclivilies. feslive crafts & activities and a visit lo Saiila. Iviih eacl) cliild leaving iviili their ari))s ftjll of preseii15 gii)d Iieads fiill of special nieiiiorie5 to Ireasiire. We l)ave iieiv projec15 plani)ed iviih Partner Orgaiiisalions, sucli as Halion Disabled Cliildren'5 Services and Ivarringloii Yoiilli Zoi)e ii) order lo provide miilii-week prog1rli]llleS for Ilie cl)ildren Il)ey 5llPPOrt. Iviih iiicreased fiiii(liiig ive £ire hopii)g lo add a trai)sport provisioii for faiiiilies iviilioLII 12ccess lo a car. niaking C.AFT ac¢essible for faiiiilies ivlio are ciirreiiily iii)able lo atleiid 5essioi)s due lo oiir ren)ole countryside localion. In Il)e ciirrenl econoiiiic cliiii<ile, lye anticipate that fliiidraisiiig ivill also coiiliiiiie lo be a clialleiige as IN'C aiin lo conliiiiie lo provide oiir services lo fainilies (Iiicl groiips froiii Qlir regioii. Niirtiiriiig relalioiiships iyiil) ciirrenl flinders ivill reniaiii a priority ensiiring all feel valLILd aiid fiill). uiidersland Ilie in)porlaiice of their 5LlPPOrt, is soiiietliing il'e pride oiirselves on al CAFT. Ve i¥'ill coiitiiiiie lo revieiN' Olir fiiiidraisii)g strategy, lookiiig al nei%, 1( veiiues of siipport l< lid n)eihods of se¢iirii)g fiinds. Our 2024 strategy covers all 2( rexs of fiii)drai5iiig, bill iviili a i)<lrtlCLilar fociis 011 iiicrLasing Ihe support i%'c receive froi)I corporate siipporters xi)d liigli nel-IN'orth ii)dividtials. Tl)is ivill incliide..
TFIE CHILDREN'S ADVENTURE FARNI TRUST LTD CHAIRMAN'S REPORT FOR THE I'EAR ENDED 31 DECLMBER 2023 Nehvorking opportiinilies for established corporate support¢rs to Tnaxiiiii5e spoi150rship ai)d volunteering opportunities. Open Dftys al CAFT to seciire i)eiv corporate supporters and high nel-worth individiials. Fociis on coniniiii)ity orgaiiisalions SLich as IVon)en's Insiiliile, Rolary. U3A and Freemasons to explore funding and aivareness-raising opportlinilics Lisiiig their eslablisl)ed IieNvorks. We ivill also coiiliniie lo run Olir progranime of li¢Leled ai)d challenge events which not only raise vital funds for the charity, bul also expand our ¢oiiiiiiuiiily of voluiileers aiid aiiibassadors. The recent loss of oiir President and friend, Sir Bobby Charlioii. will coiiliiiiie lo be feli for niaiiy years but iyiih the help of our supporters ivill conliniie Ihe work Ihe charity was set LIP lo do back in 1992, 10 honoiir both Sir Bobby's meiiiory (ind Ilial of e(1cli and every person or organisalioi) who has eiiabled 115 lo still bc hclpiiig cliildren over 30 years later.
TTrIE CHILDREN'S ADVENTURE FARM TRUST LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 The Iruslees ivho are also directors of the charity for the purposes of Ilie Con)panies Act 2006, preseiil their report wilh the finaiicial slalenienls of the cl)arity for Ihe year ended 31 December 2023. Tlie Iruslees h¢1VC adopted Ilie provisions of Accoiiiitiiig and Reporting by ChRrilies'. Sialeniei)t of Recomn)ei)ded Practice applicable lo charities preparii)g their Rccounls in accordance with tlie Finaiicihl Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OKILC'fivES AND ACYIVITIES Objectives An(1 aims Tlie Children's Adveiiliire Farin Trust Ltd {CAFT or the Fari)i) exists lo provide free holid1< ys and recreational faeililies to disadvantaged ¢hildren and, where necessary, Il)eir families, in Ihe North We51 of England ai)d bordering coiinlies. These aclivilies ¢lre 114 rgely carried out froii) the C.harity's site al Booth Bank Fami, near Alirinchai)), but also incliide day Irips aiid events al other iiearby places. Tlle children ivho coine liave life Iiiiiitin condi110115, chronic sickiiess, and disabilities or ivill con)e froiii exlremely iinpoverished bl¢ ¢kgroiinds. This enables then) lo l)ave aiiiazing holidays and aclivity days al Olir woiiderfLII prei))ises. The Charity hopes that cach cl)ild visitor will benefit by developing, Ih¢ir oivii physical, ii)eiiial aiid spiriliial capabilili¢s, as well a5 iniprove their overall condition of life. As in previoiis years, the Tnist is fin£inced by a combination of donalions frorn other cliarilable Irusls, grAnl making bodies. fiii)draising ai)d sponsored eveiils, corporate org7¢2nisalions, iiidividuals and coiiiiiiiinily groiips. Oiir supporters are provided iviih a host of opportunities lo siipport OLir cause through Iheir preferred nieihod, tliis coiild ii)clLide- giving personal doiialioi), Iindertaking fui)draising Ihroiigli Il)eir own activity. allendingi one of oiir fl(?gship evenls or participating ii) a challei)ge event sii¢l) as Olir overseas Tuk Tuk adventure in Noveiiib¢r 2023 10 Sri Lank'a which raised an aiiia7.ing £80K. The Cliarily li(IS ¢oI)lii)Iied lo be siic¢essfiil iii allr<l¢1ii)g eoiiipai)ie5 to iiiidertake le?( n) biiilds on the Fami. This has resiilied it) a large aiiiounl of iiiaiiilei)aiiLe aiid rencivk]l i%'ork Ihl¢11)¢lS been coiiiplL¥led al i)0 C05110 Il)L Tnist. Public beiiefit The 'l'rLislees liave ¢oi)siderLd Cliarily Coiiimission giiidancc on piiblic bei)efit in Section 17 of the C.harilies Act 2011. By fuifilli118 11$ objectives lo providL liolidays ai)d oil)er recre¢l1101i(112c clivilies to ¢hildrcn disadvaiilabJed Iliroiigli illi)ess, disability, poverty or otlier eiiiolional needs, Il)¢ TrLislees c0115ider Ilie Cliarily is iiideed providing a piiblic beiiefil. STRIC"I'Tr:GIC REPORT A¢liieveniei)t All(1 i)erforiiiAnce buii(Iriiising Activities The ClJ<lrily is coiiiiiiilled lo dcliveriiig a varied progiraiiiiiie of SilLcLssfiil fiindraising iiicliiding¥ events aiid clic2llci)ges Il)at help raise vital fiinds nee(led lo provide holidays, d(iys trips aiid speciill evciils for disadviqiilagyed children. Our lean) of fiiiidraisers lake pride in Il)c rLIK21ioiisliips biiili iviih our coii)i)iilled siipport¢r base, ai)d eiisiire slroiig sleivardship reiiiains iii place Il)roughoiil. As iiieiiibers of Ihe Fuiidraisii)g Regiilalor, oiir teaii) lake all iiieastires to increase piiblic Iriisl ii) Il)e scclor (2iid eiisiire we reiiiaiii Ir¢inspRreiil Iliroiigil) all oiir ivork, folloiviiig best priiclice as oiiilined in Ilie Instiliile of FLlI)dricising Code of Praclice. Oiir Charity lias also signed lip lo receiving siippr¢ssioi)s linder the Fiindraising Prefereiice Service ai)d is (lelighied Il)at lo d¢?le iio reqliesls liave been Inade. Olir approach lo fui)dr<iising is iiioiiilored by oiir Board of Tnislees Ihroiigh effective reporting. Ivhich evaliiales the Sliccess of differL'I)l iiicoii)e soiirces, and iileiilifies areas for revieii,. CAFT is coii)Iiiilled to slreiigjihei)ing Ihe oversiglil and assLiraiice of Iliose fiindraisiiig on the Charity's bel)alf. lo ensiire inforJi)alion on best practice is re<idily available 10 our siipporters, as i%'ell as identifyingJ fiirther potential lo increase incon)e generation. The Charity does not eiigage agencies or third pRrties to deliver face-lfrface. lelephoiie or other direct Inarkeling cAinpaigns, ai)d is ¢oiiiiiiilled lo proteclii)g Ihe infori)iatioii ai)d data of everyoiie we come into coiila¢t iviih, aiid recogni5e Iliat this neeils lo be kept safe. Ilfe Iiever give or sell c111y dalft or iiiforiii(Ition lo other charities or COliiPi?iiies, aiid pride ourselves 01) slihring liiiiely, iiie<iiiiiigful ii)fonii<ilioii NN'iih Il)ose ivho arL' l)appy lo l¢(2rii IiiorL froni oiirselves.
THE CHILDREN'S ADVENTURE FARM TRUST LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 STRATEGIC REPORT Financial review Finaneial posltioji The total incoming resources for the year were £1.251,819 {2022.' £1,108,326) whilst expenditure amounted lo £1,046,552 (2022.. £1,045.948), prodlicing J siirplus of £205,267 (2022.. £62.378) for the year. Ai the eiid of the year. the Trust l)ttd Iiel assets of £1.89ni (2022.. £1.68ni), of i¥hich £1.141,088 (2022.. £888,706) Ivas l)eld iii liqiiid fijnds, Su1Cle17¢ to ii)eel Ille Trustees, largel of al least nine n)onlhs' Ivorking capital ai)d a SOLind base on iyhich lo conliniially groiv oiir reach lo deserving children tl)roiighoiil our region. Oiir income for the year ivas generated across the rnnge of fiinding areas, C.harilable Tnisls continue lo be the largest contributors. Events. sportiiig challenges, coiiiiiiiii)ily, corporate hnd individlial donations also provide si¥nificant revenue. Our events prograninie continues to be a Inajor source of inconie and once again our two bigge51 fund rdising events were our Aiiniial Grai)d Ball aild our Anniial Ladi¢s Liinch. We have conliiilied to develop an active coniinlinity progranime incliiding close relalionsliips iviih a variety of coii)n)Iinity groLlPS. We Are pleased that ive have been able to both ivork with sonie local schools to fiindraise hnd also ac¢omn)odale a niimber of Plipils who have gained invaluable work experience. We ¢oi)liniied to develop relalioiiships iviih corporate sponsors via leani bliildiiig exercises, wl)ich provides much needed voliinlRry iyork, lo holidi(y Sponsorships for groiips of children visiting the Fariii. We also received Inany ess¢'nlial gFifts in kiiid froni Olir siipporters ranging from breakf(i51 cereals lo soft toys. The resiilis for Ihc year are sliown in Ilie Stalenienl of Financial Activities on page 12. Investment policy anil objectives The Trust ivoiild only ii)vesl siirpliis fiiiids (Iliose available in excess of thai required by oii-goiiig working capital reciLiireii)eiilsl ii) SLICI) ii)vesliiieiil veliicles as dLcidL'd by Ili¢ Board, or by oiie or niore I rLislees and Il)e Chief ExecLilive operating with Ilie approv<il of Il)¢ Board. iii respect of Ihese iiiallers. Funds ivill 01)ly be invested in re¢o8nised vel)icles, such as deposit accolinls, boiids. Money Market accoiin15 aiid so on operilled by a ni?( jor clearing baiik, ii)erchaiil bank or eslablislled ii)vesliiiei)I coiiipaiiy and al all liiiies care iyill be lakeii lo eiisiire Il)al Ihe rLliini rLLL'ivcd by the Charity 01) siicl) iiivcsliiieiil is Ilic best possible available, lakii)g into a¢coiint the requireii)eiil lo draw doivii siicli flinds, al Ille liiiic of Il)¢ invesliiieiil. Profes5ioiial advice ivill be taken as required lo en511re that this return is niaYin)ised. Reserves i)olicy Reserve5 are iieeded to bridge the gap belween the spendii)g aild receiving of income and lo cover iinplaniied ei)iergency repairs and oilier expendiliire. Tlie Tt7151ees have concllided Ihal, al any 01)e point in tinie, there shoiild be suificienl free reserves to cover al lea51 nine nionihs, Ivortl) of fLItLire Jnli¢ip<iled expei)dilure. We are satisfied Il)al for the year elided 31 Deceniber 2023, the Charity has operated iii accordaiicc iviih Iliis poliey. Ive ivill coiilii)Iie lo nionilor aiid control Ilie level of freL' reserves ivhilsl at the saiiie liiiie ensLifii)8 Ilifil Il)e Cli<iril)' a¢ls it) Ille best interests of ils bei)cfi¢iaries by groiving arid developing the services Ihal ive provide. Tl)¢ on-goiiig plaii iiidicales sleaily iiicoi)ie Iloivs each year, reflecting the coiiliniioLlS recriiiliiienl and Irainiiig of a dedicated fuiidriiising teclll). Tlie Tnislees revieiv Ilie reserves policy eacli }'ear Rl Il)c Aniiiial (iei)eral Nleeling. Iii lii)e Iviili c?11 Ch(Irilies, Ilie current econoinic climate conlii)Lie5 to liave <71) IIIIP1¢ cl oil aclivilies al CAFT and, Rs a resLIII, il is Ilie Tnislees, intention lo coi)slai)Ily revieiv Rll reserves to ensure ive Iiave sufficient fiinds lo operate Iioniic?Ily.
TFIE CHILDREIY'S ADVEwfuRE FARM TRUST LTD REPORT OF TFIE TRIISTEES FOR THE YEAR ENDED 31 DECEMBER 2023 STRATEGIC REPORT Future plAns There is an ever increasing need for the services we olTer and it remains a priority that we make a real and meaningful difference lo every child and family ivho visit CAFT. During 2023 ive have conliniied to iiiipleiiienl niaiiy changes and improveinents to existing facilities, an exciting prograninie of new activities and facilities, along iviih conlii)Iiiiig to explore options for fullire developnienls. all of Ivhich ivill 4lloiv LIS lo fulfil oiir three year strategy lo increi1se the nlimber of childreT] able lo access our services. STRIIC:TURE, GOVERNANCE AND 1wlANAGF.lENT Goveriiing Ilocument The Triisl is a eoi)Ipany limiled by giiaranlee, governed by 115 memorandlini aiid arti¢les, with no sh¢1re capital, and is a registered c.harity. Tli¢ Directors of the conipRny are ils only menibers and are also ils Triislees for the piirposes of Charity laiv. Details of the ainoiinls guaranteed by n)embers are given in note I to Ihe accoiints. Reerui¢meiil and ai)Iioiiitment of new trustees New Directors i))ay be appointed by the passii)g of an ordin2( ry re5oliilion of the Qompaiiy's iiieinbers in general meeling. On appoinlinenl, any new Director woiild b¢¢oi)ie a Triislee and niember of the Conipaiiy. The Dire¢lors niay also iiivile applications for iieiv i)iei))bcrs in such forni as tl)ey decide bul woiild only do so if they considered it woiild benefit the fuliire activities of the Cliarily. OrgAnisAlional structure The board of Tnislees adniiiiislers the Charity and nieets al least qiiarterly. A Chief Execiilive is appointed by tlie Tnislees lo iiiaii(?ge the day-lo-day operi¢ lioi)s of the C.harily. To facililiile Lffcclive oper411ions, Ilie c.hief I".x¢¢iilive l)as deleg<iled aliiliorily, Iviiliin lern)s of dLlcgalioii approved by Ilie I'ruslees, for operatioiial niatters ii)clLidiiig f1111¢ 1)¢e. enii)loyiiieiit aiid operalioiial aclivilie5. On 6 ALigLisI 2024, Ihe old board of Iriislees relirL'd after niaiiy years of service lo CAFT aiid ¥¥'e Ihaiik Iheii) ?(12 for their onlribulioi) lo CAF-r'5 siiccess over iieTrÉ rly lil'o dLcad¢s. Oil Il)e saiiie d1< y a Iieiv inleriiii b01( rd iV41S PPOiI)ILd ivilli Ilie imiiiediale goals of establishing a l(1rgJ¢'r, iiiorL' diverse board of Iriislees and eslablisl)ii)bY a robiisl nieiiib¢rsl)ip of (he charity ivhich is repre5enlalive of the fAn)ilies uiid ¢l)ildren that CAFT SLlPPOrts. Jn(liiclion 011(1 trAiniiig of new tr115tees Neiv 'fNslees iiiidergo ai) orienlalion day lo brief Ihei)i on.. their legjal obligations linder C.liarity and conipaiiy laiy, the Charity Coiiiiiiissioii gLiidance oli piiblic bciiefil, aiid iiifonii Ilierti of Il)c coiileiil of Il)e ]en]0[andi1]i1 cll)d Articles or Associalioii, Ilie coii)millLe aiid decisioii-Illl¢ kil)8 processes, the biisiiiess plan ai)(I receiil fllllc iicial pcrfori)iancc of the Cli1( rily. Diirii)g Ilic iiidiiclioi) y il)ey iiicel k'e), eiiiployees ciiid oilier 'friislees. Trlislecs are eii¢oLifii¥cd lo alleiid appropriate external Irit ii)ii)g events ivhere Iliese ivill facililale tlie uiidertxking of Ihcir role. Key mnnngement reniiiiierlltion ie Tnislees cire aclivLly iiivolvcd in overseciiig tl)e Charity's a¢livilies aiid iiieel on a regiilar basis IliroiiglioLJI Il)e year. None of Il)e TnislL'es receive reiiiiiiierl£ lioi) or oilier bei)efil froi)) Il)eir iyork. i%'iih Ilie Cl)aril)'. kliiy coiii)eclioii beliieei) I TrL151cc or senior liiilllc?8er of the Charit), Ivitli Slipplier of goods or 5ervice5 to the Ttiisl Iiiiist be disclosed lo (lie fiill b01( rd of 'l'rLislecs iii Ilie saiiie ivay as any other coiilr<?clii¢21 relic lioi)ship i%'iih a related party. Bookk'eepii)g. payroll (ind accoiinling Services ivere proviiled lo .31 Aiigiisl 2023 by NIBI. {Business lli)d Tax Advisers) Limited iii ivliicli one of Ilie Triislees is R director. Fees for Iliis ivork aiiioiiiited to £3,396 in the period elided 31 Deceiiiber 2023 (2022: £5,172) (see nolL' I O).
TIIE CHILDREN'S ADVENTURE FARM TRUST LTD REPORT OF THE TRUSTEES FOR THE YEAR F.NDED31 DECEMBER 2023 STRucfiiRE, GOVERNANCE AND lANAGEIENT Risk niAnagenieiit Tl)e Inislees have a duly lo identify and revieiv the risks lo ivhich the charity is exposed and lo enslire appropriate coiilrols are in place to provide reasonable assurance against fraiid and error. The Tnistees have a risk n)anhgement strategy which coniprises: ali anniial revieiv of the principal risks and uncertainties that the Charity faces. the anniial revieiv- and the establis1)nienl of policies, systems and procedures to niiligale those risks identified iii tlie Cl)arity slioiild those risks malerialise. Ihe iiiipleilienlalion of procedures desi¥ned lo iiiinin)ise or n)anage any potential impact on the Charity shoiild Il)ose risks i))alerialise This ivork has identified that financial siistainability is a financial risk for the Charity. The Trustees regularly review casl)noiv, foreeasl rcveniie ¢liid costs and Iiqliidity. Aiienlioi) is also fociised 01) noii-finaiicial risks (?rising froii) fire, healil) aild safely of visitors lo CAFT as well as ma1147geii)enl of f(K)d liygiene. These risks are n)ai)aged by ensurii)g Rccredilic Ilon 15 UP to dale, haviilg robLlSt policies aiid procediires it) place, and regiilAr aivarL'll¢SS training for slatTivorkiiigTr ji) Iliese operalioiial areas. Our volunteers CAFT ivorks closely in the con)i))unity and Rlso relies on voluiilary help. Ive have a large niimber of volunteers who assist iviili jobs aroiind our land and bLiildii)gs, sorting and selling donated stock al oiir Charily shop in Knlilsford, sleiv(2rdiiig eveiils aiid activities, eiiciblii)g lonbp¢r opc'i)ii)g aiid lower staff costs Ilian ivould otherwise be the case. We vish lo Ihaiik lill our voliiiileers for Ilieir loyal siipport aiid bJL'nerosily.
THE CHILDREN'S ADVEIYTIIRE FARM TRUST LTD REPORT OF THE TRIISTEES FOR TIIE YF,AR F.NDED 31 DECEMI BER 2023 REfERENCE AND ADNIINJSTRATIVE DETAILS Regislere(I Conipany nuniber 02561611 (England and Wales) Re2istere(I Charity nuniber 1003675 Registere(l orrice Booil) Bai)k Farni Reddy Lane Milliiiglon Cheshire WA14 3RE Trustees Michael J Bulcock (resigned 4 Augiist 2024) Jayne Worrall (rLsigiied 5 ALigiisl 2024) Alice F McGl<1drig<lll (resigiied 31 Jiily 2024) Peter A Collier (appoiiiled 6 Aligiist 2024) Adriaii Coverdale (appointed 23 Aiigusl 2024) NiLola M Grali¢ini (appoinle(120 August 2024) Calhcrii)e E Si( iidl(2nd {1¢ ppoiiiled 6 Augiisl 2024) Peter J H Scolsoii (appointed 6 Aiigiisl 2024) Au(litors DJF l Aiidil Liniiled Accouiilaiils Slaliilory Aiidilors The r',xcliang?e 5 B¢ink SirL'el Biiry BL9 ODN Senior niThiiAgeni¢i)t lan Eccles - Chief Execiilive Bmiikers Nalivesl Baiik pl sI'AI'F.IE.1. or'J'RllS'fF.F,S' RF.SPON51BII.ITIES Tlic IrLislce5 (Ivlio are cilso Il)c clirLclors of TIIL Cliildreii's Adveiiliir¢ fanii 'frLisI Lid for Ilie Plirposes of conip<llly laiv) are respoiisible for prepariiig tlie Ai)i)Iial Report Riid the fiiiaiicial slaleiiieiils iii accord<in¢e ivitl) 11 ppIILable laiv and Uiiiled Kiiigdoii) Accolinling Staiidcirds (Uniled Kingdoiii Gei)erally Accepted Aceoiiiilin¥ Practice).
TIIE CFIILDREN'S ADVENTURE FARIII TRUST LTD REPORT OF TFIE TRUSTEES FOR THE I'EAR ENDED 31 DECEI¥IBER 2023 STATEIENT OF TRUSTEES, RESPONSIBILII"IES- cojitinued Conipany laiv requires the Inislees lo prepare finaiicial slaleinenls for each fiiiancial year wliich give a true and fair view of the slate of aifairs of the charitable company and of the incon)ing resolirces and application of resoiirces, incliiding the incotti¢ ai)d expeiidiliire, of the charitable conipaiiy for Ihal period. In preparing those financiKiI slalenienls, the Iruslees are required to select siiitable accounting policies and then apply them consistently. ObSee the nieihods arid principles iii tlie Charity SORP; 11)ake jiidgemei)Is and esliii)al¢s thai arc reasoiiable and pnidenl- slate iYlieil)er applicable accoiiiilii)g slaiidards have been followed, siibje¢l lo any material d¢partLires disclosed and explained in the finaiicial slalenieiils. pr¢par¢ the fii)an¢ial slalen)enls on the going ¢on¢em basis unless il is inappropriate to presuiiie that the charitable company will continue iii busine5S. Tlie In151ees are responsible for keeping propcr accoiinliiig records which disclose with reasonable accuracy al any time the finaiicial position of the charitable compai)y aiid lo enable Iheni to ensiire Ilial the fiiiancial slaleiiienls coniply willi Il)e Coii)P£inies Ael 2006. They are also rL'spoi)sible for saf¢gJuardiiiB the assets of the charitable conipany and hence for lakiiig rei( soiiable steps for Ilie prevention and deleclioi) of fraiid and oilier itTegularities. In so far as the tru51ees are aivare.. t1)¢ is no relevant audit infornialion of which the charitable coi)Ipany's aiidilors are iinaware; and Ihe Iriislees have lakeii all steps that they Olighi lo have taken lo make Iheiiiselves aivare of any relevant audit infon))alion and lo eslablisl) that tl)e aiidilors are aware ofihal infom)alioii. AUDITORS Tlie aiidilors, DJFI Audit Limited, Ivill be proposed for re-appoiiiliiieiil al the forthconiiiig Anniial Geiieral Meeling. Report of the Iriislecs incorporating a slralcgic rcport, Thpproved by order of Ilie board of Iriistee5, as Ihe company directors, 01) i)(1 Sib?i)ed on the bo(2rd's belii¢ If by: P A Collie lee
REPORT OF THE INDEPENDENT AUDITORS TO TFIE MEfvIBERS OF THE CHILDREN'S ADVENTURE FARM TRUST LTD Opinion We liave audited the finaiicial stalenienls of The Cliildren's Advenliire Fam) Trust Lid (the 'charitable company,) for the year ended 31 Deceiiiber 2023 ivhich comprise the Siaiei)ienl of Financial Activities, the Stalenienl of Financial Position, the Sialenient of Cash Flows and i)oles lo the financial stateiiieiils. incliiding a siin)mary of significant accounliiig policies. The financial reporting franiework that has been applied in their preparation is applicable law and United Kingdoiii Accoui)ling Standards (United Kingdon) Generally Accepted Accouiitiiig Practice). In our opinion Ihe fiiiancial slalenienls.. give a Iriie and f1( ir vieiv of the slate of th¢ charitable conipany's affairs as al 31 December 2023 and of ils incoming resources ai)d applicalioii of resoiirces, iiicliidiiig ils income and expenditure. for the year then ended. have been properly prepared in accordance iviih Unilcd Kingdoni Generally Accepted Accoiinling Practice; and have been prepared ii) accordance will) the re4iiiremenls of Ihe Con)panies Acl 2006. Bosis for opinion We condiicled our audit iii accordance iviih Ii)tenialional Standards on Alidiling (UK) (ISAS (UK)) and applicable laiv. Oiir r¢sponsibililies linder those standard5 are fiirther described in the Auditors, responsibilities for Ihe aiidil of Ilie fii)Iiiicial 51alei)ieiils seclioi) of oiir report. We are independenl of the charilable company iii accordance iviih Il)e etliical requireiiieiils that are relevaiil lo oiir aiiilil of the financial slalen)enls in Il)¢ UK, incliidiiig the FRC'S Ethical Standard. and we have flilfilled oiir oilier ethical respoiisibililies it) accordance iviili 11)e5¢ fL'qiiirenients. We believe that the alidit evidence we have obtained is surricient and appropriate to provide a basis for our opinioii. Conclusions relating to goiiig concern In aiidilii)g Il)e financial slal¢iiienls, we Iiave coi)cliided that the Inislees, use or Ihe going concen) basis of accoiinling in the preparalion of Ilie finailcial slalenieiils is appropriate. BAsed on Il)e work ive have performed, we have not idei)lified any nialerial iincertainlies relating lo events or conditions Ih(It, individiially or coll¢¢lively, niay Cilst 51b?i)ificTrÉ lil doubl 011 Il)e cliarilable conipany's Iibilily lo conliniie as a goii)g coiiceri) for a period of al le2¢ sl Iwelve n)oiiilis froiii ivhei) tl)e fiiiaiicial slalL'iiienls are 1< uihoriscd for issiic. Olir respoiisibililies aiid the re5ponsibililies of the Iruslees with respect lo going coi)¢ern are described it) the relevHiil seclioi)s of Iliis report. Ollier iiiformation Tl)e Inislees are respoi)sible for Ilie ollier infonlialioii. l-lie oil)er iiiforiiialioii Loiiiprises Il)e infornialioi) iiicliided in the Anniial Report, other than Ilie financial slalenienls al)d oiir Report of tlie IndLpendeiil Aii<lilors Ihereoi). Our opinioi) on the financial slateinenls does not cover the oll)er infoniialion and, except lo tl)e exteiil olhenvise explicitly staled in oiir report, Ive do not express any forni of assiirance concliision Ihereon. Iii connection iviih our aiidil of the finai)cial slaleniei)Is. oiir responsibility is lo read the oilier infomialioii and, in doing 50, ¢oiisider ivheilier Ihe other infornialioi) is iiialerially in¢oi)sislenl iviili Ilie financial 51alei))ei)Is or oiir ki)oivledge obiaiiied in Ilie (iiidil or oihenvise appears lo be iiialeriiilly misslaled. If li'e ideiilify Slich Iilql ILrial iiicoiisisleiicies or appcirenl material iiiissl2¢ len)enls, ile are reqiiired lo delenniiie ivl)cil)cr Iliis gives risL lo a lii<ileriRI iiiisslaleiiienl iii the riiiaiicial slalen)eiils Ilieiiiselve5. If, based on 11)e ivork ive have perfon)ied, ive ¢oi)clLide that there is a niaterial n)isslaleii)ent of this oil)er inforiiialion. we are reqiiired lo pOrt Il)al fact. Ive licive nothing lo report in this regard. OI)iiii0115 on other ni¢qlter5 Iireseribed by the Coiiii)niiies Act 2006 II) OLir opiiiion, based 01) the ivork iii)dertiikeii iii Ilie course of Il)e aiidil.. the ii)forii)alion giveii in tl)e Report of the I'rLislees for the financial yeiir for ivliich Ihe fii)aiicial slaleiiienls are prLpared is coiisisteiil iviili the fiiiaiiciic I slc?len)eiils) <iiid Ilie Report of Il)e Trlislees liils becii prepared iii accordaiice iviih applicable legal requireiiieiils.
REPORT Ob I'HL INDEPENDENT AUDITORS TO THE NIF.MBERS OF THE CHILDREN'S ADVENTURL FARIWI 1'RUS'f LTD Mntters on which we Are required to report by exception In lh¢ liglil of the ki)owledge and underslanding of the charitable company and ils environment obtained in the coiirse of Ihe alidil, we have not identified maierial Iiii551ateiiients iii Ilie Report of the Trustees. We have i)oihing lo report in respect of the following niatters where the Coinpanies Act 2006 requires us to report lo you if, in our opinion.. adequate accouiilii)g records have not been kept or relums adequate for our audit have not been received from branches not visited by ils; or the financial slaleiiienls are not in agreement with Ihe accoiinling records and reliirns; or certain di5closiire5 of Iruslees, reiiiui)eralion specified by law are not made. or we have not received all the infom)alion and explanations we require for our audit. Responsibilities of trustees As explained niore fully in the Slalemenl of Truslees, Responsibilities, the Inislees (who are also the directors of the charitable coi)Ipany for Ihe putposes of coi?Ipaiiy law) are responsible for Il)¢ prcparalion of the financial sial¢i)ien15 and for being satisfied that they give a Iriie and f¢?ir vieiv. and for sucli internal control Hs the Inislees delemiine is necessary lo enable th¢ prcparalioii of finaiicial slaleiilenls Ilial are free froiii iiialerial i)iisslRleii)enl, lvheilier diie lo friiiid or error. Iii preparing tl)e finic ncial slalei))cii15, Ilie Inislees are respoiisible for assessing Ilie cl)arilable company's ability lo coi)lii)Ii¢ as a goii)g concern, disclosii)g, as applicable, i))lÉ Ilers related lo going ¢on¢erii and using Ilie goiiig coiicem basis of accolinling iinless Ilie Iriislees eiil)er inl¢iid lo liquidate Ilie charitable coii)paiiy or lo cease operalioi)s, or liave no r¢alislic aliernalive biit lo do so. Our resiM)nsibilities (or the auilit of the finnncial stAtenients Olir objectives are lo obtain asOnable assiifiince abolit whether the financial slalemenls AS A whole are free from material mi551cllenienl, wheiher due lo fraud or error, aiid lo issue a Report of the Independei)i Aiidilors Ili(il ii)cliide5 OLir opinion. Reasonable assiirance is a higli level of assiirance, bill is nol a giiaranlee that ai) aiidil coi)diicled in accordance Iviil) ISAS (IJK) Ivill alivays deiecl i( nii11crial n)isslalcn)cnl when il exists. lisSIa1et1)eiIls cali aris¢ fron) fraiid or crror ai)d are considered iiialerial if, individiially or in Ilie aggFregale, 11)ey could reasoiiably be expected lo iiifllience the e¢onomi¢ de¢isioi)s of iisers taken on the basis of these fii)ancial slalemenls. As part of our plaiiniiig i)roces5: We eiiqiiired of lii¢l1)ageiiieiil Ilie syslLliiS ai)d coiilrols IIIL Lliarily lias li) pl¢l¢e. Ilie reas of the financial slaleiiieiils Ilial are iiiosily susceptible lo Ilie risk of irr¢giil<irilies aiid fraiid, and wl)eiher Il)erL ivas any ki)oivn, siispecled or alleged fraiid. Tl)e cli¢irily did not inforin LIS of any kiloivn, siispecled or Ileged frilild. We obiained an Lll)derslanding of the legal and gUlatOry fraineivorks applicable lo the charity. We deleniiined Ilicit the folloiviii&J ivere iiiosl relevaiil.. C.liarilies SORP (FRS 102), Coi)Ipanies Act 2006, Charities Act 2011. Cli(1rilies Act 2022, aiid liealih ai)d safely legjislcilioi). We considered tlle ii)eenlives lind opportiiiiilies Ilial exist iii the charity, incliiding the extent of i))anagei))ei)t bias. Ivliicli presenl a potential for irregiilarilies aiid fralid lo be perpetLialed, ai)d lailored oiir risk assessnienl accordingly. Usiiig oiir kiiowledge of the charity, together with the disciissioi)s l)eld ivill) Ihc ¢h?( rily al the planiiing stage, we fonned a coi)clLision on Il)e risk of mis511?leii)eiil due lo irregularities incluiling fraiid and lailorLd oiir procediires according to thi5 risk a55essiiienl. 10
REPORT OF THE INDEPENDENT AUDI'foRS TO THE IllE]BERs OF
THE CHILDREN'S ADVENTURE FAR1 TRUST LTD
The key procedu$ we undertook to (letect irregularities including fraud during the course of the udit
included:
Identifying and t¢sling joun)al eiilries, in particiilar those that '¢re signific1( nt aiid uniisual.
Perfoniiing iyalkihrough tests of income and expeiises 10 ensure tlial appropriate coi)Irols and segregation of
duties are iii place.
Reviewing the financial slalemenl disclosures and detem)iniiig wl)eiher aecoiinliiig policies have been
appropriately applied.
Revieiving and challenging Ilie assiiniplions and judgements iised by Inanagemeiil in their significant accounting
eslin)ales, iii partiCLilar in relalion lo depreciatioi).
Assessing tlie extent ofconipliance, or lack of, Ivith the relevRI)I laws and regiilalions.
Testing key inconie lines for evidence of ii)aiiagenienl bias.
Obtaining Ihird-p(1rty coi)fim)alioi) of material b1( lik b¢llances.
DociiiiieiilinB and verifyii)g all significaiil related parly bali¢ lices and Iran5aclions.
Reviewing dociii)ienlation sucl) as the Iriislees Diinules for discussions of itTegiilarilies includiiig fraiid.
A fiirther descriplion of Olir responsibilities for tlie audit of the financial slateniei)Is is localed on the Fiiiancial Reporting
Coiincil's ivebsile al iViV.frC.0rg.li1aiid1IorSrespon51bil1Ijes. Thi5 description fomis part of oiir Report of the
Independent Aiidilors.
Use of our report
This report is i)iade solely lo the cliarilable compaiiy's menibers, as a body, in accordaiice wilh Cl)apler 3 of Part 16 of
Il)e Coinpaiiie5 Act 2006. Oiir aiidit ivork liic s beeii iiiidertrfiken so Il)
THE CHILDREN'S ADVENTURE FARfvI TRUST LTD STATEfvIENT OF FINANCIAL ACTIVITIES FOR TIIE YEAR ENDED 31 DECEIWJBER 2023 2023 Total funds 2022 Total fiinds Uiireslricled funds Restricted funds Notes INCOIllE AND EiYDOWI¥IENTS FRO1 Donations and le¥a¢ies 555.991 270,250 826,241 747.708 Other trading activities Inveslnieiil incon)e 417,005 8,573 417,005 359,054 1,564 Total 981,569 270250 1,2$1,819 1.108,326 EXPENDITIIRE ON Raisii)g flind5 396,177 396,177 392,729 Chfiritable activities Provision of holiday5 and related activities 629,743 20,632 650,37 653.219 Total ,02.S,920 20,632 1,046,552 1,045,948 NET INCOIllEI(EXPENDITURE) (44 J51) 249,618 205,267 62,378 RF.CONCII,IIlTION OF FIINDS Total liiiids broliglil fonvard 1,617,760 ,684,67 1,622,297 TOTAL FIINDS CARRIF.D FORIVARD ,573,409 ,889,942 1,684,675 The notes fomi part of these fii)ancial staleiiiei)Is 12
THE CHILDREN'S ADVENTURE FARM TRUST LTD STATEMENT OF FINANCIAL POSITION 31 DECEIIIBER 2023 2023 TotAI funils 2022 Total funds Unreslri¢led funds Reslricled fiinds Noies FIXF.D ASSETS Tangible assets 13 710,643 710,643 724.742 CURRENT ASSETS Stocks Debtors Cash at bank and iii hand 14 32,080 72,071 888.706 29J19 824,555 29J19 1,141,088 316,533 899,189 316,533 ,215.722 992,857 CRF.DITORS An)oiinls falliiig diie iviihin one year 16 {36,423) (36,423) {32.924) NET CURRENT ASSETS 862,766 316,133 ,179,299 959,933 I'o"rAL ASSL'fs i.ESS CllRRLNT LIABI I.II'I ES 1,573,409 ,889,942 1,684,675 NET ASSF.TS ,573,409 316,.53J 1,889,942 1.684.675 FIINDS Uiireslricled fuiids Reslricied fiinds 18 1,873,409 316,533 1,617,760 TO'fAL b [lyDs 1,889.942 1,684,67.S Tl)e fii)ai) al slalenienls ivere approved by the Board of Trustees ai)d auil)orised for i5511e nd iNere sigi)Ld on ils belialf by.. on Truslee The notes forni part of these financial slalen)eiils 13
THE CHILDREN'S ADVENTURE FARNI TRUST LTD STATF.i¥IEIYT OF CASH FLOWS FOR THE I'EAR ENDED 31 DECEI¥IBER 2023 2023 2022 Notes Cash flows from 01)eraling activitie5 Casli gei)eraled froni opcralions 262JOO {5,568) Nel cash provided byllused in) operatiiig aclivilies 262JOO {5.568) Cash floivs froJn investing 4ctivities Purchase of tangible fixed assets Interest received (18,491) 8,573 (28,868) 1.564 Nel ¢ash used in investing activities {9,918) (27.304) Chaiige in cAsh and cA5h equiv#lciits iii the rei)orliiig i)erioil CAsh And casli equivAlents At the begiiiiiiiig of the reportiiig i)eriod 2.$2 082 (32,872) 888,706 921,578 Cash And Cash equivAlentS At the en(1 of the reporliilg perioil ,141,088 888,706 The notes fonii part of these financial slalemenls 14
THE CHILDREN'S ADVENTURE FAR] TRUST LTD NOTES TO THE STATF.I¥IENT OF CASH FLOIVS FOR THE YEAR ENDED 31 DECEMBER 2023 RECONCILIATION OF NET INCOI¥IE TO NET CASFI FLOIV FRONI I OPERATING AcfiviTIES 2023 2022 Net income for the reporting period (a5 per the StAtement of Financial Activities) Adjustments for: Depreciation charges Interest received Increase in stocks Decreasel(iiicrease) in debto Increase/(decrease) in Creditors 205,267 62,378 34,313 (1.564) (21,080) (65,852) (13.763) (8,$73) (13,235) 42,752 3,499 Net cash provi(leil byl(useil in) operations 262 JOO (5,568) ANALYSIS OF CIIANGF.S IN NF.T FUNDS Al 1.1.23 Cash flow At31.12.23 Net CAsh Cash al baiik ai)d in hand 888,706 252J82 1,141,088 888,706 252J82 1,141,088 TolAI 888,706 252J82 ,141,088 The notes foni) parl of Iliese fiiiaiicial 51ateiiiei)Is 15
THE CHILDREN'S ADVENTURE FARI¥I TRUST LTD IYOTF.S TO THE FINANCIAL sTATE1lENTs FOR THE YEAR ENDED 31 DECEINIBER 2023 STATUTORY IIYFORMATION The Children's Adventure Farm Trust Ltd is a company. limiled by guarantee and registered in England and Wales. -l-Iie ¢ompany does not have share capital. The gLiarRnlors al 31 Decen)ber 2023 are Ihe Trustees in oifice al Iliat dale and del<1iled iii the Triislees Report on page 7. Their liability in respe¢l of the giiaranlee as sel oiil in the leMorandni of Associalioii is lin)iled lo £ l O per guarantor. The conip(Iny's regislered Iiiiiiiber 15 02561611 and ils registered charily nLiniber is 1003675. The con)pany's registered office address is B(K)Ili Bank Farin. Reddy Laiie. N4illii)glon. Clieshire. W A14 3RC. ACCOUNTING POL,ICIF.S Bmsis of i)reparing the fiiiRncial slatemeiits The financial slaleii)enls of the charitable company, which is a Pliblic benefit entity linder r.RS 102, have been prepared iii accordance iyiih Ille Cliarilies SORP IfRS 102) 'A¢coiinlii)g and Reporling by Charities.. Sialeiiient of R¢¢on)Inended Practice applicable lo cliarilies prepariiig Ilieir accoiiiils iii accordaiice wilh the Finai)cial Reportiiig Siand(?rd applic¢lble ii) Il)e UK aild Repiiblic of IrLlaiid (FRS 102) (effective l Ji(nui( ry 2019),. Finai)cial Reporting Standard 102 'The financial Reporting Standard pplicable in the UK and Repiiblic of Irelaiid, and the Companies Act 2006. 1'h¢ financial slalenients have been prepared uiider the historical cost convention. The Cl)ildren's Advenliire Fami Trust iiieels Ilie definilioi) of a piibli¢ benefit entity Linder FRS102. Assets aiid liabilities £ire initially recognised al historical cost or transaclion valiie iinle5s ollienvise slated in Il)e accoiinling policy iiole. After c0115ideriiig the role of Tlie Childr¢ii's Adv¢i)lur¢' Fanii Tnjsl Lid iviiliin Ilie ivider coi))Iiiiinily (described on pag?es 1-8 of Il)e anniial report), iiivesliiieiil pcrforiiil¢ 1)ce & reliirn aiid risk iiiaii<igei)iei)I, Il)e Inislees hcive a reasoiiable expecti( lion Il)l( I the cl)arily l)as adeqii2c le rL'soiirces ai)d cash floivs lo iiieel Ihe rcqiiircd spciiding comniilii)enls for the foreseeable fLIILire. As al .1 l Deceiiiber 202.3, tlie cliarily liad nel a5seis of £1,889,942 (2022.. £1,684,675), iyiili a 5LirplLlS diirii)g Ihc year of £205,267 12022.. £62,378). Tl)e InislLes believe Ili(Il Ilie Cliarily Is IVLII placed to iiianage ull relevaiil risks ai)d Ilierefor¢ coiiliiiue lo adopt Ilie 8OiI)8 concen) basis of accoiiiiling ii) prepciring 11)ese fii)aiicial slic leiiiei)Is. Critical Accoiiiiling ju(Igeiiieiits 4iicI key soiir¢os of estiinAlioii iincertaiilty ThLrc arL' currLI)Il J, no sigjiiificaiil jLI(Igeiiieiils aiid csliiii(IILs I1pplied by Ilie Tnisl ivl)ich Ilre considered key to Ilie prep?( r(?lion of the fiiiaii¢i2c151llleiiiei)Is. Inconie All iiicome is recognised iii the Sialemenl of I'"inancial Aclivilies oiice the charity lias eiilillenienl to Il)¢ funds, il is probable Ilial Ilic incoiiie ivill be received xi)d the aiiioui)I cai) be ii)Lasurcd rLli&bly. Doniitions llii(I gi'£lllt5 Iii¢oiiie froiii doiicl1ioiis aiid grai)Is, inclLidii)g capital grants, is incliided in inconie }h¢ll Iliese a received, except as follows.. Vl)eii donors specify Ilial donations aiid grants given lo the charity mLlS1 be iised in fliliire accoiiiiliiig perio(Is, Ille ii)coiiie is deferred lo Ih05e periods. Vlieii doiiors ii)Ipose coiJdilioiis ivhich l)ave lo be fiilfilled before the charity beconies enliiled lo iise such iiicoii)e, the inconie is deferred and iiot ii)clLided in ii)comii)g resoLifLes Linlil Ilie pre-condilioiis for Iise have bcen i)iel. Ivlieii doiiors specify Ili(21 doiialions and granls are for particiilxr reslricled piirposes, Ivl)icli do i)ot c IlloLlI)I lo pre-eoiidilioils rcgardiiig eiiliileiiieiil, Iliis iiicoiiie is iiicliided in iiicoiiiiiig resoiirces of reslricled fiinds Nvheii receivable. 16 ¢ontiniied...
THE CHILDREN'S ADVENTURE. FARili'fRUST LTD NOTES TO THE FINANCIAL sfATEMENTS- contiiiued FOR THE YEAR ENDED JI DECEINIBER 2023 ACCOUN1'1NG POLICIES- ¢ontiniie(I Incomt Donated goods and services Donated goods and services are recogiiised as incoiiie ivhei) the cl)arity has control over the ileiii, any coiidilions associated iyiih the donated ileni have been mel. the receipt of economic benefit froiii tlle Lise by the charity of the ilen) is probable and that ecoiion)ic benefit can be ii)ChSLired reliably. In a¢cordaiice will) the Charitie5 SORP (FRS 102), voluiiteers, lime is not recognised and the Trustees, report gives n)ore infornialion about iheir contribution. On receipt. donated setvices and donaled goods are recognised on the basis of the valiie of the gift to the charity Ivliicli is the anioui)I the charity ivoiild have beeii willii)g lo pay lo oblaiii services or fcicililies of eqiiivalent econoiiiic benefit on Il)e open niarket. a corresponding aiiiount is then recogiiised in expei)dilure in Ihe period of receipt. Legacies Legaey gifts lire recogni5ed on a case by case basis folloiving the granting of probate when Ihe ,Idniinislralor/execiilor for Ihe eslale lias comn)iinicaled li) iyriliiig both Ihe aii)oiinl and seiilLiiieiil dale. In Ilie eveiit Ilial the gift is in the form of an Asset ollier tlian ¢ash or a financial asset traded on a recogiiised stock ex¢hany¢, recogiiilioii is siibjecl lo Il)e valv¢ of Ilie gift beingi reliably measurable wilh a degree of reasonable acciiracy and Ilie tille lo the as5el having beet) transferred lo the charity. Inconie from fun(IrAislng Incoiiie fron) eveiils is accoiii)Icd for wliei) received, logieilier will) a proportion of donor pledges received al the i))ajor evei)I l)eld ei?¢h year. Facility l)ire incoiiie is accouiited for ivlieii ii)voiccd. Coivmercial trA(liiig Activlties Cloiliing aiid oilier ileiiis donaleil for rL'sale Iliroiigl) tl)e cl)arily's shop are in¢liided as incoiiiing resoLirce5 Iviihin activities for geiieralingF funds ivheii Iliey lif¢ sold. li)IRI)gibl¢ income Inli)iigJible iiicoii)e, Ivl)icli coiiiprises doii?c led goods and 5eNi¢es, is incliided iii incoine al a valiialion iyhich is an e51iii)(?le of Ilie fiiiancial Cost bonie by Ilie doi)or ivl)ere Slicli cost is qiiai)lifiable aiid nieasurable. No iiicoiiie is recognised ivliere there is iio fiiian¢ial cost Iionie by the Iliird party. F.xpenilitiire Liabilitie5 rfire recognised as expendiliire as soot) as there is a legal or ¢oi)slriiclive obli8alion con)Inilting the charity lo Ilial expeiidillire, il is probable Ilial a Iraiisfer of e¢oi)oniic benefits ivill be reqliired in seiilenieiit (11id the anioiiiit of the obligalioii cai) be i)Icasiired reliably. Expeiidiliire is a¢coLinled for 01) an accnials basis lid l)As beei) classified Linder l)eadings Ilial ggregic Ic all cost related lo the category. 1111)Lrc costs caiiiiol be directly allribvled to P<irtlLiil¢lr Iie¢ldiiigs Il)ey liave been Rllocaled lo activilies on a basis consislenl iviih th¢ Lise of resources. Expeiidillire is classified linder Ilie folloi¥ii)g activity headin85'. Costs of rk)isiI)g flinds coiiiprise (he cos15 of events orgai)ised to raise Iiinds for the cl)arily, the payroll cosls ofihe chcirily's staff aiid their associated siipport costs. Exi)ei)diliire on cliiirilable activities iiicliidL'S the costs ofproviding liolidays and r¢lRled activities by the cl)i?rily's sl(ift"and their associated siipport costs. Other e.xpendilLire represei)Is those iten)s iiot fallii)g into any other heading. Irrecoverable VAT is cliarged as a cost against the activity for ivhicli the expeiidiliire ivas iiiciirred. 17 conliiiiied..
THE CHILDREN'S ADVENTURE FAR1 TRUST LTD NOTES TO THE FINANCIAL STATEMEPUS- continue FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOIINTING POI,ICJES- continued Expenditure AllocAtion of support costs Support costs are those functions that assist Ihe work of the charity but do not directly undertake charitable aclivilies. SLlPPOrt costs include back office cosls, fiiiance, persoiinel. payroll aiid goveri)an¢e cos15 which support the Trust's a¢tivities. These costs have been allocated between cost of raising fliiids and expeiidilure on charitable activities. Taiigible fixeil assets Individual fixed assets costing £1,000 or niore are capilalised al cost and are depreciated over Iheir estimated Ilsefiil econoiiiic lives on a 51r(iighi line basis as follows: Freehold bliildings - 20/0 per annuni Fixliires, fillii)gs aiid equipiiienl . 20 % per aniiiim Conipiiler eqliipiiienl - 3.1.33Q/o per AnnLim Plant, machinery and n)olor vehicles - 250/0 per annun) The residual values, estinialed usefiil lives and depreciation method of tangible fixed assets are reviewed, and djusled as appropriate. al eacli slalen)enl of financial position dale. The effects of any revision are recognised in the inconie slalenient when the change arises. Stocks Stock COlTiprises donated goods wliich are lield for resale via cl)arily aii¢lions aiid doi)aled goods whicl) are to be Iised li) Ihe fllrtherilnce of the chiirity's objectives. Where practicable, doi)aled goods are nieasured al fair value wliich, li) Ilie case ofgyoods for re5(Ile. 15 Ihe expected procecds fr(>iii sale less the expected costs of sale. Tlie cl)arity is exempt froi)) corporation lax on ils cl)arilable a¢livilies. FUDII ft¢¢oiinting Uiireslricled fliiids can be Lised in accordai)ce with Ilie charitable objeclive5 al (he discrelion of (he Inislees. Reslricled funds can only be Lised for particiilar re51ricled Plirposes ivilhii) Ihe objects of Ihe charity. Reslriclions arise ivlien spe¢ified by tl)e donor or ivl)en fiii)ds are raised for particiilar reslricled piirposes. Further explaiialion of the i)rfilLire l)d piirpos¢ of each fiiiid is included in Ihe notes lo the fiiiancial slalei))enls. Lea5iiig conimitmciit5 Rentals paid Linder operating leases are cllarged to the Sialeiiienl of Financial Aclivities a5 illcLirred. inAncial instriiments The Tr1151 only lias fiiiaiicial a55els ai)d fiiic2ncial liabilities of a kind that qiialify as basic fii)aiiLial inslriinieiils. Basic fii)Iliicial inslriiniei)Is are iiiilially recogi)isLd al Iransaclioii val(ie and subseqlieiiily iiieasiired al Iheir selllenienl valiie. Pensioi) costs Tl)e LOI))pany operates R defined conlribiilion pension scheme. Conlribiilions payable lo the conipany's pension scheiiie are cli(Irged lo Ilie S11( leiiieiil of Fiii¢liicial Activities iii tlie period to i%'liich Iliey relate. coiiliiiued...
THE CHILDREN'S ADVENTURE FARNI TRUST LTD NOTES TO THF. FINAIYCIAL STATEIWIENTS- continued FOR THE YEAR ENDED 31 DECEiVIBER 2023 DOIYATIONS AND LEGACIES 2023 2022 Donations Legrflcies Grartls 80S,991 641,563 39,145 67.000 20,250 826,241 747,708 Grants received, incliided in the above, are &$ folloivs.. 2023 2022 Other grants 20,250 67,000 OTIIF.R TRADING AcfiviTIF.S 2023 2022 Eveiil iiicoiiie Shop income 389,112 27,893 330,862 28,192 417,005 359.054 INVESI'NILNT INCOI¥I 2023 2022 Deposit a¢coiinl interest 1,564 RAISING bUNDS Raising (lonntions #ii(I l¢gAcies 2023 2022 Staff costs Rates and water Lighi ai)d hei¢ I Telephoi)e Sun(Iries lolor and Iravel expenses Eveiils Ac¢oiii)lancy 194,5.$3 159,143 12,440 528 5,538 1,656 1,075 209,761 -s,883 2,186 208 17.S,065 2,490 396,177 392,729 19 coi)tinued...
TIIE CHILDREN'S ADVENTURE FARM TRUST LTD NOTES TO THE FINANCIAL STATEMENfs- continued FOR THE YEAR ENDED 31 DECEI¥IBER 2023 CHtlRITABLE AcfIviTIES COSTS Siipport costs (see note 8) Direct Cosls Totals Provision of liolidays ai)d r¢laled aclivilies 10,722 6$0J75 SIIPPORT COSTS Govemance C0515 Fin(1n¢e Totals Provision of liolidays aiid related aciivilies 3,-522 7,200 10,722 NF.T INCOfvIF.I(F.XPTr:NDITIIRE) Nel iiiconiel(expendilLire) is slated afler cl)argingl(crediliiig)'. 2023 2022 Auditors, ren)Iineralion Depreciation - oivned assets Hire of plant and machinery 7,200 6,600 34,313 2,243 1,896 10. TRUS"fEES' REI¥IIINERATION AND BLNEFI'rs None of the Inislees received rei))Lineralion or oil)er benefits for Ilie year ei)ded 31 December 2023 nor for the year ei)ded 31 Decei)Ibcr 2022. Bookkeepiiig, payroll 121)d aceoiiiilii)g services are provided by NqBL {BIisii)ess rfiiid Tax Advisers) Liniiled in Ivliicli one of Ilie Trlislees is a director. Fees for this ¥i'ork ¢l1))oiiiiled lo £3,396 in Ilie year (2022.. £5,172). Incllided ii) Creditors Rl the year end is as a balance relaliiig to 1B1. it) Il)e anioiinl of £nil (2022: £1)il). Trusl¢es' expeiises There li'¢ no Inislees, expei)ses paid for the year elided 31 Deceiiiber 2023 iior for Ihe year ended 31 Deceniber 2022. STAFb COSI'S 2023 2022 Wage5 and salaries Social seciirity Costs Pensioi) eonlribiilions Healthcare costs 462,980 33,977 11,406 434,358 35.779 11,107 5,137 514,322 486,381 The TrLisI consi(lers ils ke}, maiiagemenl persoi)nel lo coniprise the Trustees and the Chief Execiilive. The lolal employmeiit beiiefils iiicliidiiig eiiiplo}'er pension coiilribiilions of Ilie k'ey maiil¢ geiiienl persoi)nel ii'ere £71,453 (2022.. £69,205). 20 conlinlied...
TFIE CHILDREN'S ADVENTURE FARM TRUST LTD NOTES TO TIIE FINANCIAL STATENIENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 ii. STAFF COSTS- continued Oi)e employee received eniolumenls in excess of £60.000 (2022.. 1). The average nuniber of eniployee5 diirii)g the year ivas 32 (2022.. 31). 12. COI)IPARATIVF.S FOR TFIE STATF,I¥IENT OF FINANCIAL ACTIVITIES Unreslricled funds Reslricled fiinds Total funds INCOfvIE AIYD ENDOIVIVIENTS bRONI I Donations and legacies 654,607 93.101 747,708 Other trading aclivilies Inve51iiiei)l income 359,054 1,564 359,054 ,564 Total 1,015.225 93.101 1.108.326 EXPENDITURE ON Raisiiig fuiids 333,523 59,206 392.729 ChnrilAble aclivilie5 Provision of holidays Riid rLlaled aclivilies 622,367 30,852 653,219 Total 9$5,890 90,058 1,045.948 NLT INCOIllE 59,335 3,043 RF.COYI Cll,IATION or riiNDS Total liiii(Is broliglil foThv(?rd 1,558,425 63,872 ,622,297 TOTAL b UNDS CARRIED FORIVARD 1,617,760 66,915 1,684,675 21 coiilinlied...
THE CHILDREN'S ADVENTURE FARIVI TRUST LTD NOTES TO THE FINANCIAL STATEMENTS- continued FOR TIIE YEAR ENDED 31 DECEMBER 2023 13. TANGIBLE FIXED ASSETS Fixtlires nd fillii)gs Fttehold property Plant and ii)achii)ery Totals COST At l Janiiary 2023 Additions ,528,024 18,491 193544 511,136 2,232,705 18,491 At 31 Deceiiiber 2023 ,546,515 193545 511,136 2,251,196 DEPRECIATION At l January 2023 Charge for year 824,077 26,093 -$02J7.S 3,447 1,507,963 At 31 Deceinber 2023 850,170 184,561 505,822 1,540,S$3 NET BOOK VALUE AI I I DLceiiibcr 202.3 696J45 8.984 .SJ14 710,643 Al 31 Deceiiiber 2022 703,947 12.034 8,761 724,742 Freeliold bliildings includes land whicl) is iiol depreciated. 14. STOCKS 2023 2022 Stocks 32,080 DEBI'ORS: ANIOIINTS fALI.INC DIIE IVITIIIN ONF. YEAR 2023 2022 Ollier debtors Ii)coi))e lax recoverable - Gift Aid Prepayi)ienls and accrLied income 1,4.86 2.S,494 2,369 218 2,483 69,370 29J19 72,071 22 01)tiiiiied...
THE CHILDREN'S ADVENTURE FARiII TRUST LTD NOTES TO TIIE FINANCIAL STATEI¥IENTS- continued FOR THE YF.AR F.NDF.D 31 DECF.I¥IBF,R 2023 16. CREDITORS: AhIOUNTS FAI.LING DUE IVITHIN ONE YEAR 2023 2022 Trade creditors Social seciirily and other taxes Other creditors Accrued expenses 6,646 9.922 3,281 19,721 3J40 16,912 36,423 32.924 17. LEASING AGREEIENTs Mininiiini lease payments Linder iion-cai)cellable operating leases fall diie as follows.. 2023 2022 Wiiliin one year Between one and five years 13,166 11,666 2,041 3.S,041 13.707 18. IOVF.fvIF.NT IN FUNDS Nel n)oveii)enl in funds Tr(Insfers beliveeii riinds Ai 31.12.23 Ai 1.1.23 Ilnreslricteil fun(Is GenL'ral fiind Fiiiid raisiiig & publicity Cl)arily shop ,617,760 {77,278) 32,927 (46,574) 13,647 ,573,409 (13,647) ,617,760 (44,3.$1) ,.873,409 Restricted fiin(Is Increase SLrvice Capital developinei)Is (382) 250,000 66,-$33 250,000 66,915 249,618 316,533 TOTAL FUNDS 1,684,675 20.S,267 1,889,942 23 coiilii)Iied..
THE CHILDREN'S ADVENTURE FARIWI TRUST LI'D NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEIBER 2023 18. IOVENIENT IN FUNDS- continued Net Inovenient in fuiids. incliided in the above are as follows: Incoming resources Resources expended Movement in ndS Unrestricted fuiids Generlll fLlI)d Fund raising & publicity Charity shop 559,955 393,721 27,893 (637,233) (347,147) (41,540) (77,278) (13,647) 981,569 (1,025,920) (44J51) Reslricteil fiiilds Increic se Service CApilal developnieiits (20,632) (382) 240,000 2.$0,000 270,240 (20,632) 249,618 TOTAI. FIINDS 1,251,819 (1,046,4.42) 205,267 Comi)iirAlives for movement in fuii(Is Nel ii)ovcii)enl Trai)sfers belivL'CI) fiii)ds Ai 31.12.22 At 1.1.22 Unr¢stricleil fun(l$ Geiier(I1 fiiiid Fiii)d rais11)g & publicity Charity shop 1,558,425 15,679 63,673 {20,0171 43.656 (6.1,673) 20,017 1,617,760 1,5.58,425 1,617,760 R¢5tri¢t¢d fuiid$ Increase Service 63,872 3,043 66.915 TOTAI. FIINDS 1,622,297 62,378 1,684,675 24 conliniicd.
THE CHILDREN'S ADVENTURE FARM TRUST LTD NOI'ES TO THE FINANCIAL STATEMEIYFS- continued FOR THF. YEAR ENDED JI DECEMBER 2023 18. lovEIENT IN FISNDS- continue(I Comparative net ii)ovemenl in fiinds. included in the above are as follows.. Incoming resoiirces Resou¢$ expended lovement in funds Unr¢stri¢te(I funds General fiii)d Flind raising & piiblicity Charily sl)op 638,046 348,986 28,193 (622,367) (285,313) (48,210) 15,679 63.67.1 (20,017) 1.015.225 (955,890) 59.335 Reslricleil fiijids Iiicrease Service 93,101 (90,058) 3.043 TOTAL FUNDS 1,108,326 {1,045.948) 62.378 A current year 12 nioiiil)s and prior year 12 1))onihs conibiiied position is as folloivs.. Nel n)ovenienl in flinds Trai)sfers between fiiiids At 31.12.23 Ai 1.1.22 Unrestricted funds Generi11 fiiiid Flind rRlSiI)g & piiblicily Cliarity shop 1,.558,425 (61,5991 110,247 (33,664) 76,583 (110,2471 33,664 1,573,409 1.558,425 14,984 1,573,409 Restrict¢(I fuii(Is Ii)crense Service Capital developiiienls 63.872 2,661 250.000 66,533 250,000 63,872 252,661 316,533 I'Ol"Al. b IINDS 1,622,297 267,645 1,889,942 25 conliiiiied...
TFIE CHILDREN'S ADVENTURE FARM TRUST LTD NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE I'EAR ENDED 31 DECLMBER 2023 18. lovE]EN'f IN FUNDS- continued A current year 12 nionihs and prior year 12 monihs combined net movement in funds, included in the above are as folloivs.. Incoming resolirces Resolirces exp¢iided Moveiiienl li) fund5 Unrestricted funds General fiind Fund raising & publieily Charity shop 1,198,001 742,707 56,086 {1,259,600) {632,460) {89.750) {61,599) 110,247 (33,664) 1.996.794 (1.981,810) 14.984 Restricteil funds Increase Service Capital developnienls 113,351 250,000 (110,690) 2.661 2.50,000 363,351 (110,690) 252,661 TOTAI. FIIIYDS 2,360,145 (2,092,500) 267,645 19. RELA'I'ED P•lRTY DISCLOSURES There ivere no related party Iril1)sac110115 for 11)e year elided 31 Deceniber 2023 other thai) Il)at as disclosed in IIOle 10. 26
THE CHILDREN'S ADVENTURE FARNI TRUST LTD DETAILED STATENIENT OF FINANCIAL AcfIviTIES FOR TFIE YEAR ENDED 31 DECEMBER 2023 2023 2022 INCOI¥IE AND ENDOlVIlENTs Donatlolls and legacies Donations Legacies Grants 80.S,991 641,563 39,145 67.000 20,250 826,241 747,708 other ¢r#ding Aelivilies Evei)l income Shop ii)conie 389,112 27,893 330,862 28,192 417,005 359,054 Investment income Deposit accoiiiil ii)lerest 8,573 1.564 TotAI In¢oniitig resources ,251,819 1,108,326 F.XPEIYDII'IIRE RAisiiig (lonAtions And legAeie5 IVag>cs Rates aiid water Liglil ciiid l)eal Telcplion¢ Sliiidries lolor and travel expei)ses F.veiils A¢counlan¢y 194,S.43 159,143 12,440 528 5,5.38 1,656 1,075 209,763 2,186 208 174,065 2,490 396,177 392,729 Cha)ritAble activitie5 Wages Hire of plcl1)l and maLliiiiery Rates ai)d iyaler Ligyhi and lieal Postage and stationery Advertising Holiday costs Cl)risliiiclS parties lainlenaiice & refiirbishmenl lolor arid Iravel expenses C<irried foTh¥ard 319,769 1,896 17,417 271,701 2,243 18,629 29,9.$7 14,941 14,766 94,180 41,824 73,270 9,286 600,275 48,402 43,695 107,517 9,416 546,101 This page does not form part of the slallilory finaiicial slaleii)enls 27
THE CHILDREiY'S ADVEIYTURE FARIM TRUST LTD DETAILED STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 ChArilAble Activities Brought lor%¥ard Legal and professional Accountancy Freehold property depreciation Plant 41nd iiiacliinery depreciation Fixliires and filliiigs dep¢1(1]0n 600,275 4298 2,490 26,093 3,0.$0 3,447 546,101 4,354 2.586 26,093 4,630 3.590 639,653 587,354 Support costs Finnnce Ilk cl)arges 3,522 3,328 Ilunifiii resources Wages 55,937 GovernAnce costs Auditors, remlineralion 7200 6,600 Total resoLirces expended ,046,5.$2 1,045,948 Net income 205,267 62,378 This page does iiol form part of Il)e slaliilory fii)ancial 51aleiiienls 28