Charity registration number 1003675 Company registration number 02561611 {England and Wales) THE CHILDREN'S ADVENTURE FARM TRUST LTD ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE CHILDREN'S ADVENTURE FARM TRUST LTD LEGAL AND ADMINISTRATIVE INFORMATION Trustees P A Collier A Coverdale N M Graham C E Sandland (Appointed 6 August 20241 (Appointed 23 August 20241 (Appointed 20 August 20241 (Appointed 6 August 20241 (Appointed 6 August 20241 (Appointed 16 December 20241 (Appointed 16 December 20241 (Appointed 16 December 20241 (Appointed 16 December 20241 P l H Scotson P J Gowing N A Fitton R Brooks P Cohen Senior management Eccles Chief Executive Charlty number IIX>3675 Company number 02561611 Registered office Booth Bank Far Reddy Lane Millington Cheshire WA14 3RE Auditor Mitchell Charlesworth (Audit) Limited 24 Nicholas Street Chester CHI 2AU
THE CHILDREN'S ADVENTURE FARM TRUST LTD CONTENTS Page Chairman'5 Statement Trustees, report Independent auditor's report 9-12 Statement of financial activities 13 Balance sheet 14 Statement of cash flows 15 Notes to the financial statements 16-27
THE CHILDREN'S ADVENTURE FARM TRUST LTD CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 It is with immense pride and genuine delight that I share with you the remarkable achievements of The Children's Adventure Farm Trust ICAFfi over the past year. In 2024, through the extraordinary dedicakn.on of our 5UPPOrters, volunteers, Trustees 2nd staff, we've continued to create magic31 moments and lasting memories for hundreds of children facing life's biggest challenges. In a year where many tsmilies have faced unprecedented pressures from the cost of living crisis, CAFT has stood as a beacon of hope and joy. We've witnessed firsthand how our unique sanrtuary has provided respite, adventure, and freedom to vulnerable children and their families who otherwise would have missed out on the simple joys of childhood that every young person deserves. Our Impact in 2024 Our commitment to our vision - 'helping children cate remarkable memories that last a lifetime" has been brought to life through our diverse programme of activities.. Residential breaks - our historic 17th Century Farmhouse and Respwte Facility have welcomed children to experience unforgettable holidays beyond their every reach. For many this represented their first time away from home. and it was truly heart warming to witness their blossoming confidence and independence through a carefully crafted programme of accessible. stimulating and joyful ath'vities. Dayvisits- The transformative power of one day at CAFTcannot be overstated. We continue to see extraordinarily positive change5 as children benetit from fresh air and the tranquil beauty of our Cheshire countryside setbng. From bonding with our animals to exploring our 10-3cre wonderland, from creative woodland activities to the simple freedom of our outdoor spaces. each experience has sparked joy and wonder. All out Adventure. 'Forest School, This flourishing programme has seen exciting developments throughout our Woodland area. including a new fire-pit shelter, addits.onal seating and innovats.ve artivity zone5 such a5 Water play and our sensory walkway. The children have embraced the outdoors in all weathers, developing a deeper connection with nature while learning to enjoy, protect 2nd cherish their natural environment. Easter-themed vlslts - Our seasonal celebrations brought smiles through fully accessible Easter Egg trails acr055 the farm, with children solving clues and taking home Easter Eggs generously donated by our wonderful supporters. CAFTfèst Our annual family festival created an inclusive celebration where children with physical, learning or social needs could enjoy exciting experiences at their own p3ce. Wtth relaxed performances and mulriple entertainment zones, every child could participate fully and create joyful memories. Halloween-themed - Our autumn programme delivered all the fun of the Farm. with a spooky twist. Children delighted in crafts, music, storytelling. games and the simple pleasure of toasting marshmallow5 around our camptire. Christmas parties - Our magical Winter Wonderland brought festive joy to children whose needs often make tradition21 Christmas actr"vitr"es challenging. Each child experienced festive craft5. magical activitr.es and a special visit to Santa, leaving with arms full of presents and heads full of precious memories. y4
THE CHILDREN'S ADVENTURE FARM TRUST LTD CHAIRMAN'S STATEMENT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Looking forward with purpose The past year has seen changes to our Board structure and personnel. We extend our sincere gratitude to our previous Board members for their dedicated service and invaluable contributions over many years. As we move into 2025, we're excited to begin implemenring -our Way Forward," our ambifious 2025-2030 strategv underpinned by our core values of Belonging, Care, Respert and Stewardship. Under the governance of our new, expanded and committed Board, we are energised and rea(Jy to embrace the opportunitr'es and challenges that lie ahead. We're developing promising new partnerships wtth schools. youth group5 and organisations supporknng young people to deliver one off and multi-week programmes tailored to the children they support. With increased funding, we hope to intmduce transportation services for families without access to cars, making our countryside haven accessible to even more children who need us. Our Foundation Five commitments of enhancing our Facilitie5, expanding our capacity, raising our Profile, growing our Income, and building our Memberships will guide our journey toward our bold vision of creating lifeb'me memories for 150,00 children by 2030. In the current economic landscape, fundraising remains a signtficant challenge as we 5trrve to maintain and expand our vitsl services. Nurturing relationships with our current supporters continues to be a priority-ensuring everyone who contributes to CAFT feels v21ued and understands the profound impact of their support is something we take immense pride in. We're actively refining our fundraising strategy to explore new avenues of support, with particular focus on growing our membership programme, strengthening corporate partnerships. and developing relaDonships with high net-worth individuals. These initiatives will be crucial in helping us realise the full potential of Our Way Forward. As we reflect on another year of making magic happen at The Children's Adventure Farm Trust, we extend our heartfelt gmtitude to everyone who has been part of our journey. Together, we're creating a place where children facing life's biggest challenges can find joy. freedom, and the unforgettable experiences that childhood should be made of. Thank you for being part of our story.
THE CHILDREN'S ADVENTURE FARM TRUST LTD TRUSTEES, REPORT (INCLUDING DIREcfoRS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their annual report and financial ststements for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out in note I to the financial statements and comply with the charity's tgoverning documentl, 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 IFRS 1021" leffective l January 20191. Objectives and activities Objectives and aim5 The Children's Adventure Farm Trust Ltd ICAFT or the Farml exists to provide free holidays and recreational facilities to disadvantaged children and, where necessary, their familie5 in the North West of England and bordering countie5. These activities are largely carried out from the Charity's site at Booth Bank Farm. near Altrincham, but also include day trips and events at other nearby places. The children who come have life limiting conditions. chronic sickness. and disabilities or will come from extremely impoverished backgrounds. This enables them to have aaZIng holidays and activity days at our wonderful premises. The Charity hopes that each child visitor will benefit by developing their own physical, mental and spiritual capabilities. as well as improve their overall condition of life. As in previous years, the Trust is financed by a combination of donations from other charitsble trusts, grant making bodies, fundraising and sponsored events. corporate organisations. indNiduals and communrty groups. Our supporters are provided with a host of opportunities to SUPPOrt our cause through their preferred method, this could include; giving a personal donation, undertaking fundraising through their own activity. attending one of our flagship events or participating in a challenge event. The Charity has continued to be successful in attracting companies to undertake team builds on the Farm. This ha5 resulted in a large amount of maintenance and renewal work that has been completed at no cost to the Trust. Public benefit The Trustees have considered the Charity Commission guidance on public benefit in Section 17 of the Charities Art 2011. By fulfilling its objectives to provide holidays and other recreational activities to Children disadvantaged through illness, disabilitv, poverty or other emotional needs, the Trustees consider the Charity is indeed providing a public benefit. Achievements and performance Significont octNvities ond ochievements ogoinst objertives The Charity is committed to delivering a varied programme of successful fundraising including events and challenges that help raise vital funds needed to provide holidays, day trips and special events for disadvantaged children. Our team of fundraisers tske pride in relationships built with otjr committed supporter base, and ensure strong stewardship remains in place throughout. As members of the Fundraising Regulator. our team take all measures to increase public trust in the sector 2nd ensure we remain transparent through all our work, following the best practice as outlined in the Institute of Fundraising Code of Practice. Our Charity has also signed up to receiving suppSsIonS under Fundraising pference Service and is delighted that to date no requests have been made. Our approach to fundraising is monitored by our Board of Trustees through effective reporting. which evaluates the success of different income sources, and identifies areas for review. CAFT 15 committed to strengthening the oversight and assurance of those fundraising on the Charity's behalf. to ensure information on best practice is readily available to our supporters. as well as identifying further potential to increase income generation. The Charity doe5 not engage agencies or third parties to delrver face-to-face, telephone or other direct marketing caTnpaigns, and is committed to protecting the information and data to everyone we come into contart with, and recognise that this needs to be kept safe. We never give or sell any data or inforniation to charities or companies and pride ourselves on sharing timely, meaningful information with those who are happy to learn more from ourselves.
THE CHILDREN'S ADVENTURE FARM TRUST LTD TRUSTEES. REPORT (INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Financial review FTnantial position The total incoming resources for the year were £1.037.54212023= £1,251,819) whilst expenditure amounted to £1,157,843 12023 £1.046.5521. producing a net movement in funds of1£120.301112023.. £205.2671 for the year. At the end of 2024. the Trust maintained net assets of £1.77m12023= £1.89ml, with £1.141,52312023.. £1,141,088) held in liquid funds. This strong financial foundation-exceeding our nine- month working capttsl tsrget empowers us to drive forward our ambitious plans for creatr'ng lasting memories for 150,000 children by 2030. Living our value of Stewardship. we've carefulty managed our resources while investing in magical experiences for children. This balance of prudent linancial management and passionate purpose enables us to build on our Foundation Five commitments.. enhancing our Facilitt'es, expanding our Capacity, raising our Profile, growing our Income, and bLJilding our Membership. Diverse Income Streams Our fundraising approach reflects the depth and breadth of our community connections= Charitable Trusts remain our largest contribLrtors, providing substantial funding that enables us to plan WTth contidence. Events and Challeng.", continue as a vibrant cornerstone of our fundraising success, with the Annu31 Grand Ball and Ladies Lunch creating memorable occasions while generating signifi.cant income. and our challenge events including successful TukTuk trips providing both great fundraising and relationship building with our supporters. Community Initiati¥E5 have flourished, with local schools partnering with us not only for fundraising but also through valuable work experience opportunities for pupils embodying our Belonging value by creating meaningful connections. Corporate Partnershlps have grown through innovative approaches, from team-building activtries that provide essenri81 volvntary support to holiday sponsorships for visvhng chil(Iren. Individual Giving continues to demonstrate the heartFelt commitment of our supporters. alongside in-kind donations ranging from everyday e55entia15 to special treats that enhance every child's CAFf experience. Ventscrityfjts&tYea , E29.785.60 The results for the year are shown in the Statement of Financial Activities. Reserves policy Through thoughfful planning, our reserves bridge the gap between expendrture and income while providing essential security against unforeseen costs- reflecting our commttment to Respect for our wpporters. contributions. The Board maintains suffi.cient free reserves to cover at least nine months, anticipated expendrture. a prudent approach we've successfully maintained throughout 2024. This careful balance of financial stability and mission advancewnent ensures we can continue creating magical moments while planning confidently for the future. Our financial forecasting shows steady income prospects in the coming years. testament to our dedicated fundraisinE team. While navigating the challenging economic climate affecting all chartbes, we remain vigrlant in reviewing our reserve5 P05Ftion, ensuring we can operate effectively while pursuing our strategic vrsion of transforming children's lives.
THE CHILDREN'S ADVENTURE FARM TRUST LTD TRUSTEES. REPORT (INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Investment policy Our investment strategy exemplwfies our careful Stewardship of resources. The Trust invests 5urplu5 fund5 only in Board- approved vehicles, ensuring both security and optim31 rettjrns. All investments are placed exclusively in recognised instruments operated by established financial institutions. We prioritise achieving the best possible returns while maintaining necessary flexibility to support our mission. Professional advice guides our decisions, ensuring resources are maxrmised for the benefit of the children we serve. Plans for future periods The need for CAFT'S unique blend of joy. freedom and adventure continues to grow. Our commitment to creating remarkable memories that last a lifetime drives everything we do. Throughout 2024, we've laid crucial groundwork for our ambitious 2025-2030 strategy. We've enhanced our magical 10-acre Slte. introduced innovative activities. and explored eycwting possibilities forfuture development-all with one purpose.. to reach our bold vision of creakn.ng lifekn.me memories for 150,0(M) children by 2030. Our Foundation Five Our strategic growth rests on five interconnected pillars that work in harmony to transform children's lives.. In 2024, we began enhancing our beautiful Cheshire countryside sf(e. improving our Grade 2 listed farmhouse, Sports hall, forest school. and playground. Our plans include developing new features that will delight and inspire, ensuring every corner of CAFf creates magical moments for Vi5Tting children. Capacity- We're finding innovative ways to welcome more visitors while ensuring every experience remains special. By making smarter use of our spaces. time, and resources. we're reaching more families who need us while preserving the quality and care that makes CAF[ unique. Profile- We're strengthening CAFT'S voice and visibility, telling our story more powerfully to help everyone understand notjust what we do, but the lasting impact we create. Our goal is to become the first choice for individuals, companies, and trusts wanting to support transFormats"on in young live5. Income - Our focus on 5UStainable, diverse funding streams ensures we can create more magical experiences year after year. We're nurturing existing relationships while exploring new avenues of support. making every pound work as hard as possible for the children we serve. Mernbership We're building a vibrant community of passionate advocates who'll help shape CA,5 future. This will strengthen both our governance and our impact. creating a diverse network of supporters committed to our mission. With this robust foundation and guided by our values of Belonging, Care, Respect and Stewardship, we're creating a future where more chrldren facing life's biggest challenges can discover adventure, joy, and freedom at The Children'5 Adventure Farm Trust. Structure, govern3nce and management The Trust is a company limited by guarantee. governed by its memorandum and articles. with no share capital. and is a registered Charity. The Directors of the COTnpany are Its only Tnember5 and are also its Trustees for the purposes of Charity law. Details of the amounts guaranteed by members are given in the accounting policies. 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 finantial statements were- M Bulcock J Worrall A McGladrigan P A Collier A Coverdale N M Graham (Resigned 4 August 20241 (Resigned 5 August 20241 (Resigned 31 July 20241 (Appointed 6 August 20241 (Appointed 23 August 20241 (Appointed 20 August 2024 C E Sandland P J H Scotson P J Gowing N A Fitton R Brooks P Cohen (Appointed 6 August 20241 (Appointed 6 August 20241 (Appointed 16 December 20241 (Appointed 16 December 20241 (Appointed 16 December 20241 (Appointed 16 December 20241
THE CHILDREN'S ADVENTURE FARM TRUST LTD TRUSTEES, REPORT (INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 New Directors may be appointed by passing of an ordinary resolution of the Company's members in general meeting. On appointment, any new Director would become a Trustee and member of the Company. The Directors may also invite applications for new members in such form as they decide but would only do so if they considered it would benefit the future activities of the Charrty. Organi5ationalstructure The board of Trustees administers the Charity and meets at least quarterly. A Chief Executive is appointed by the Trustees to manage the day-to-day operations of the Charity. To facilitate effective operations, the Chief Executive has delegated authority, within terms of delegation approved by the Trustees. for operational matters including finances. employment and operational activities. On 6 August 2024, we experienced a significant milestone in our governance journey when the previous board of trustees completed their term after many years of service to CA . We extend our heartfelt gratitude to each of them for their contribution to CAFT. On the same day. a new interim board was appointed with two transformative priorities that directly support our "Our Way Forward" strategy.. l. Expanding our Membership Foundation". Estsblishing a larger. more diverse board of trustees to bring fresh perspettives and broader expertise to guide CAFt's future Creating a robust membership structure for the charity that aLJthentically represents the families and children CAFT supports. strengthening both our governance and our impact These governance developments directly advance our fifth Foundation Five commitment Building our Membership creating a community of passionate advocates who'll help shape CAFT's future while ensuring our decision-making remains closely connected to the need5 of those we Serve. ondtroinirgof: New Trustees undergo an orientation day to brief them on: their legal obligations under Charity and company law, the Charity Commission guidance on public benefit, and inform them of the content of the Memorandum of Articles of Association, the committee and decision-making processes. the business plan and recent financial performance of the Charity. During the induction day they meet key employees and other Trustees. Trustees are encouraged to attend appropriate external training events where these will facilitste the undertaking of their role. Remunerotion policy The Trustees are actively involved in overseeing the Charity's artivities and meet on a regular basis throughout the year. None of the Trustees receive remuneration orother benefit from their work with the Charity. Any connertion between a Trustee or senior manager of the Charity with a supplier of goods or services to the Trust must be disclosed to the full board of Trustees in the same way as any other contractual relationship wrth 3 related party. Bookkeeping, payroll and accounting services were provided to 31 August 2023 by MBL (Business and Tax Advisers) Limited in which one of the Trustees is a director (resigned 6 August 20241. Fees for this work amounted to £Nil in the period ended 31 December 202412023.. £3.3961.
THE CHILDREN'S ADVENTURE FARM TRUST LTD TRUSTEES. REPORT (INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Other matters Risk management LivinE our values of Care and Stewardship, the Trustees diligently rdentify and review risks to which the charity is exposed, ensuring appropriate controls provide reasonable assurance against fraud and error. Our comprehensive risk management approach reflects our commitment to creating a safe, nurturing space where every child. family member, staff member and volunteer feels protected. This strategy comprises= A thorough annual review of principal risks and uncertainties facing the Charity. Well-crafted policies, systems and procedures that mitigate identifi.ed risks. Practical procedures designed to mFnimise potentiol impacts should risk5 materialise. This careful approach has identified financial sustainability as a key consideration. The Trustees actively manage this aspect of our Stewardship through regular. detailed reviews of cashflow. forecast revenue. costs. and liquidity-ensuringwe can continue creating magical experience5 for years to come. Equal care is devoted to safeguarding our visitors through meticulous attention to fire safety. health and safety protocols, and food hygiene standards. These crucial protech.ons are maintained through up-to-date accreditations. robust policie5 and procedure5, and regular specialised training for staff working in these area5-creating the safe, supporknve environment essenb'al for children to thrive during their CAFT experience. Our volunteers Our volunteers are the heartbeat of CAFt. embodying our value of Belonging by creakn.ng a welcoming community where everyone can be themselves. These extraordinary individuals-the living expression of our wider Bigger Picture commitments-tr3nsform our Foundation Five pillars into real-world magic for the children we serve. Our wonderful volunteer family contributes in countless ways= tending our beautiful ground5 and buildings. managing donations at our Knutsford Charity Shop, bringing warmth and welcome to our events, an(1 enabling us to extend our opening hours while managing costs effectively. Each volunteer brings unique skills an(1 passion to CAFt, matched thoughtfully to areas where they can make the greatest difference. We provide Clear support and genuine appreciarion, creaDng a volunteering experience that's both meaningful for our mission and rewarding for those who give their time. During 2024, the combined total of all the volunteer hours given to the chartty was the equivalent of 12.5 full tr.me hours posts. An amazing effort from everyone involved, which is worth around £31XJ,000 in real term savings. The dedication of our volunteers. their generosity of spirit. energy and talents, creates the special atmosphere that makes CAFT a place where lasting connections grow. We are profoundly grateful to each volunteer whose contribution helps create remarkable experiences where children tan distover joy, freedom and magit31 memories to treasure.
THE CHILDREN'S ADVENTURE FARM TRUST LTD TRUSTEES, REPORT (INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Statement of trustees. responsibilities The trustees, who are also the directors of The Children's Adventure Farm Trust Ltd for the purpose of company law. are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these financial statements. the trustees a QUid to- select suitable accounting policies and then apply them consistently.. observe the methods and principles in the Charities SORP- make judgements and estimates that are aSonable and prudent,. and prepare the finantial statements on the going concern b3si5 unle55 It is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial ststements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. es re as approved by the Board of Trustees. P A Collier Trustee 27.05.2025 Date-
THE CHILDREN'S ADVENTURE FARM TRUST LTD INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE CHILDREN'S ADVENTURE FARM TRUST LTD Oprnion We have audited the financial statements of The Children's Adventure Farm Trust Ltd (the 'ch3rity'l for the year ended 31 December 2024 which comprise the statement of financial activities. the balance sheet. the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The FinGncial Reporting Standard applicable in the UK and Republic OA Irelond (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: give a true and fair view of the state of the charitsble company's affair5 as at 31 December 2024 and of its incoming resources and application of resources, for the year then ended- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Companies Art 2¢XJ6. Basis for OPTnion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditors responsibilities for the audit of the finuncial statements section of our report. We ère independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfillerj our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions lating to going concern In auditing the financial statements, we have concluded that the trustees. use of the going concern basis of accounting in the preparation of the financial ststements is appropriate. Based on the work we have performed, we have not identified ary material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees wtth respect to going concern are described in the relevant sections of this report. Other information The other information comprises the information included in the annual report other than the financial Statements and our auditor's report thereon. The trustees are responsible forthe other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility isto read the other information and, in doing $0, considerwhetherthe other information is materially inconsistent with the financial ststements or our knowledge obtsined in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information. we are required to report that fact. We have nothing to report in this regard.
THE CHILDREN'S ADVENTURE FARM TRUST LTD INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE CHILDREN'S ADVENTURE FARM TRUST LTD Matter5 on which we are required to report by exception We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion.. the information given in the financial statements is inconsistent in any material respect with the trustees, report., or sufficient accounting records have not been kept; or the financial ststements are not in agreement with the accounting records- or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the statement of trustee5' responsibilitie5. the trustees, who are a150 the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern. disclosing, as applicable. matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations. or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and reFXJrt in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtsin reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error. and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS IUKI will alway5 detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities. including fraud. is detsiled below. 10-
THE CHILDREN'S ADVENTURE FARM TRUST LTD INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE CHILDREN'S ADVENTURE FARM TRUST LTD We identify and assess the risks of material mi55tatement of the financial statements, whether due to fraud or error, and then design 3nd perform audit procedures responsive to those risks, including obtaining audit evidence that Is sufficient and appropriate to provide a basis for our opinion. Identifying and assessing potential risks related to irregularities In identifying and assessing risks of material misstatement in respert of irregularities. including fraud and non-compliance with law5 and regulations, we considered the following.. the nature of the industry and settor, control environment and business performance.. the company's own assessment of the risks that irregularities may occur either as a result of fraud or error,. the results of our enquirie5 of management and members of the Board of Directors of their own identification and assessment of the risks of irregularities.. any matters we identified having obtained and reviewed the cornpany'5 documentation of their policie5 and procedures relating to- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non- compliance.. detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud.. the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations.. and the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. As a result of these procedures, we considered the opportunities and incentives that may exist within the company for fraud and identified the greatest potential for fraud in the following area.. the timing of the recoEnition of revenue. In common with all audits under75 IUKI, we are also required to perform specrfic procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory framework that the company operates in. focusing on provisions of those laws and regulation5 that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we conSided in this context included the UK Companies Act and local taxation legislation. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty. These included Data Protection Regulations. As a result of performing the above. we identified the timing of the recognition of revenue as the key audit matter related to the potential risk of fraud. In addition to the above. our procedures to respond to risks identified included the following.. reviewing the financial statement drsclosures and testing to supporting documentstion to assess compliance with relevant laws and regulations described above as having a direct effect on the financial statements- enquiring of management and members of the Board of Directors concerning actual and potential litigation and claims- performing analytical procedures to identify any unusual or une¥pette(I relationships that may indicate risks of material misstatement due to fraud- reading minutes of meetings of those charged with governance and reviewing correspondence with relevant authorities where matters identified were significant,. and in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments,. assessing whether the judgements made in making accounting estimates are indicative of a potential bias,. and evaluating the busine55 rationale of any significant transactions that are unusual or outside the normal course of business. We also communicated relevant identified law5 and regulations and potential fraud risks to all engagementteam merrhbers and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. 11
THE CHILDREN'S ADVENTURE FARM TRUST LTD INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE CHILDREN'S ADVENTURE FARM TRUST LTD A further description of our responsibilities is available on the Financial Reporting Council's website at- https.'l/www.frc.org.uk/ auditorsresponsibilities. This description fomis part of our auditor's pOrt. Use of our report This report is made solely to the chariVs trustees. as a body. in accordance with part 4 of the Charities IAccounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor'5 report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report. or for the opinions we have formed. Jamielee Johnston (Senior Statutory Auditor) for and on behalf of Mltchell Charlesworth (Audlt) ilmlted 27.05.2025 Accountants ststutory Audltor 24 Nrcholas Street Chester CHI 2AU Mitchell Charle5WOrth (Audit) Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under sertion 1212 of the Companies Art 2006. 12-
THE CHILDREN'S ADVENTURE FARM TRUST LTD STATEMENT OF FINANCIAL AcfiviTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestrfcted fvnds 2024 Restrfcted nds 2024 Total Unrestrlcted funds 2023 Restrlcted funds 2023 Total 2024 2023 Notes Income from: Donations and legacies Other trading activities Investments 623.072 372,767 13.591 28.112 651.184 372,767 13.591 555.991 417,005 8.573 270,250 826,241 417,005 8.573 Total income 1,009.430 28.112 1,037,542 981,569 270,250 1,251,819 Expenditure on.. Raising funds Charitable activitie5 428.291 727,352 428,291 729,552 393,687 632,233 393.687 652,865 2.200 20,632 Total expenditure 1.155.643 2.200 1.157.843 1.025.920 20.632 1.046.552 Net incomellexpenditure) 1146.2131 25.912 1120.3011 144.3511 249.618 205.267 Transfers between funds 9,912 19.9121 Net movement In funds 1136.3011 16,000 1120,3011 144,3511 249,618 205,267 Reconciliation of funds: Fund balances 3t l January 2024 1.573,409 316.533 1.889,942 1,617,760 66,915 1,684.675 Fund balances at 31 December 2024 1,437,108 332,533 1,769,641 1,573,409 316,533 1,889,942 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from ¢ontinuing activities. 13-
THE CHILDREN'S ADVENTURE FARM TRUST LTD BALANCE SHEET ASAT31 DECEMBER 2024 2024 2023 Fixed assets Tangible assets 678.884 710,643 Current assets Stocks Debtors Cash at bank and in hand 13 11,140 4.427 1.141.523 45,315 29,319 1,141.088 14 1.157.090 166,3331 1.215,722 136,4231 Creditors: amounts falling due within one year Net current assets 1,090,757 1,179,299 Total assets les5 current liabilities 1.769.641 1.889.942 The funds ofthe charity Restricted income funds Unrestricted funds 16 332,533 1.437.108 316,533 1.573.409 17 1.769.641 1.889.942 The Company is entitled to the exemption from the audit requirement contsined in section 477 of the Companie5 Act 2006, for the year ended 31 December 2024, although an audit has been carried out under settion 144 of the Charities Act 2011. 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 under the requirements of the Companies Act 2006. for the year in question in accordance with section 476. These f inancial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies reEime. 27.05.2025 ancial sta ts were approved by the trustees on . P A Collier Trustee Company registration number 02561611 (England and Wales) 14-
THE CHILDREN'S ADVENTURE FARM TRUST LTD STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Cash flows from operating activities Cash (absorbed byllgenerated from operations 113,0701 262,300 Investing activities Purchase of tangible fixed assets Investment income received 118,4911 8,573 13.591 Net cash generated froml{used in) investing activities 13.591 19.9181 Net cash used in financing artivities Net increase in cash and ¢ash equivalents 521 252,382 Cash and cash equivalents at beginning of year 1,141,088 888,706 Cash and cash equivalents at end of year 1,141.523 1,141,088 15-
THE CHILDREN'S ADVENTURE FARM TRUST LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies Charity information The Children's Adventure Farm Trust Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is Booth Bank Farm. Reddy Lane. Millington. Cheshire. WA14 3RE. The company does not have share capital. The guarantors at 31 December 2024 are the trustees in office at that date and detailed in the trustees report. Their liability in respect of the guarantee as set out in the Memorandum of Association is limited to £10 per guarantor. 1.1 Accounting corwention 8asi5 of preparation The financial ststements have been prepared urbder the historical cost convention. in accordance with the Companies Art 2006. FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" I'FRS 102,1 and the Charities SORP "Accounting and Reporting by Charities= Statement of Recommended Practice applicable to charities preparinE their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" (effective l January 20191. The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterlin& which is the functional currency of the charity. Monetary amounts in these financi21 statements are rounded to the nearest £. 1.2 Going concern At the time of approving the financral statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the finanti315tatements. 1.3 Charltable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific condttions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subjert to specific conditions by donors that the capitsl must be maintsined 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 Legacy gifts are recognised on a case by case basis following the granting of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date. In the event that the gfft is in the form of an asset other than cash or a financial a55et traded on a recognised Stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the charity. 16-
THE CHILDREN'S ADVENTURE FARM TRUST LTD NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (Continued) Donated goods and services Donated goods and services are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met. the receipt of economic benefit from the use by the charity of the item Is probable and that economic benefit can be measured reliably. In accordance with the Charitie5 SORP IFR51021, volunteers, time is not recognised and the trustees, report gives more information about their contribution. On receipt. donated services and donated goods are recogni5ed on the basis of the value of the gift to the charity which 15 the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market,. a corresponding amount is then recognised in expenditure in the period of receipt. Commerclal tradlng artlwtres Clothing and other items donated for resalethrough the charity's shop are included as incoming resources within artivities for generating funds when they are sold. Income from fundraising Income from events are accounted for when received, together with a proportion of donor pledges received at the major event held each year. Facility hire income is accounted for when invoiced. 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activitie5 on a basi5 con5iStent with the use of resources. Expenditure is classified under the following activity headings". Costs of raising funds comprise of costs of events organised to raise funds for the charity, the payroll costs of the charity's staff and their associated support costs. Expenditure on charitable activities includes the cost of providing holidays and related activities by the charity's staff and their associated support costs. Other expenditure those items not falling into ary other heading. Irrecoverable VAT 15 charged a5 a cost against the activity for which the expenditure was incurred, Allocation of support iosts Support cost5 are those functions that assist the work of the charity but do not directly ur)dertake charitable activitie5. Support costs include back ofFice costs. finance, personrbel, payroll and governance costs which support the Trust's activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. Tangible fixed assets Tangible fixed assets costing £1,000 or more are initially measured at cost and subsequently measured at cost orvaluation, 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.. Freehold land and buildings Plant, machinery and motor vehicles Fixtures, fittings and equipment 2% R.B 25% R.B 20% R.B The residual values, estimated tjseful lives and depreciation method of tangible fixed assets are reviewed, and adjusted as appropriate, at each statement of financial w51tion date. The effects of any revision are recogni5ed in the statement of financial actiwties when the change arises. 17-
THE CHILDREN'S ADVENTURE FARM TRUST LTD NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (Continued) 1.7 Impalrment of flxed 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 lif any). 1.8 Stocks Stock comprises of donated goods to be used as Christmas presents for the children. This stock is valued at an estimate of its cost which is arrived at by referencing to retail sales of other similar items. The Charity also operates a shop. however donated goods CeIVed for sale in the shop are not valued as it is impractical to do so. 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 1.10 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12'0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity'5 balance sheet when the charity become5 party to the contractual provisions of the instrument. Financial zssets and liabilities are offset. with the net amounts presented in the financial statements. when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basicfinancicl assets Basic financial assets. which irbclude debtors and cash and bank balances. are initially measured at transaction price including transaction cost5 and are subsequently carried at amortised c05t using the effective interest method unle55 the arrangement constitutes a financing trnnsaction, 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. Basicfinanciol liabilitie5 Basic financial liabilities, including creditor5 and bank loan5 are inwtially recogni5ed at transaction price unle55 the arrangement constitutes a financing transartion, 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 amort15ed. Debt instruments are subsequently carried at amortised cos¢ using the effective interest rate method. Trade Creditors are obligations to pay for goods or servrces that have been a¢qUid in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not. they are presented as non-current liabilities. Trdde creditor5 are recognised initially at transaction price and 5ub5equently measured at amorti5ed c05t Using the effective interest method. Derecognition offinonciolliubilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 18-
THE CHILDREN'S ADVENTURE FARM TRUST LTD NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (Continued) 1.11 Taxatlon The charity is exempt from corporation tax on its charitable activities. 1.12 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. 1.13 Pension costs The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the Ststement of Financial Actiwties in the period to which they relate. Critical a¢¢ounting estimates and judgements There are currently no significant judgements and estimates applied by the trust which are considered key to the preparation of the financial statements. Income from donations and legacies Unrestricted Restricted Total Unrestricted Restrirted Total funds funds funds funds 2024 2024 2024 2023 2023 2023 Donations and gifts Grants 623,072 28,112 651,184 555,991 250,1J)O 20,250 805,991 20.250 623,072 28,112 651,184 555,991 270,250 826,241 Income from other trading activities Unrestrided funds Unrestri¢ted funds 2024 2023 Event income Shop income 313,158 59,609 389,112 27,893 Other trading activities 372,767 417,005 19-
THE CHILDREN'S ADVENTURE FARM TRUST LTD NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 In¢ome from investments Unrestricted funds 2024 Unrestricted funds 2023 Interest receivable 13,591 8,573 Expenditure on raising funds Unrestricted funds 2024 Unrestricted funds 2023 Fundraising and publicity Rates and water Telephone Sundries Motor and travel expenses Events 18,247 3.937 15,792 5.883 2,186 208 169 211,942 193,996 175,065 194,553 Staff costs 428,291 393,687 -20-
THE CHILDREN'S ADVENTURE FARM TRUST LTD NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Expenditure on ¢haritable activities Provision of holldays and related activites Provision of holldays and related attivites 2024 2023 Direct costs Staff costs Depreciation and impairment Hire of Plant and Machinery Rates and Water Light and Heat Postage and Stationery Advertising Holiday Costs Christmas Parties 386,321 31.845 1.226 319,769 32.590 1,896 li 18,753 29.088 17,732 1,286 98,236 9,368 100.431 8,518 11.941 4,880 17,417 27.757 14,766 iio 94,180 41,824 73.270 9,286 4.298 4,980 Maintenance and Refurbishment Motor and Travel Expense5 Legal and Professional Accountancy 719.625 642.143 Share of support and governance costs (see note 8) Support 9,927 10,722 729,552 652.865 Analysis by fund Unrestricted funds Restricted funds 727,352 2,200 632,233 20,632 729,552 652,865 Support costs allocated to activities 2024 2023 Finance 2.927 7,000 3.522 7,200 Governance costs 9,927 10,722 Analysed between: Provision of holidays and related activwtes 9,927 10,722 21
THE CHILDREN'S ADVENTURE FARM TRUST LTD NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Net movement in funds 2024 2023 The net movement in funds is stated after chargingllcreditingl: Fees payable for the audit of the charity's financial statements Depreciation of owned tangible fixed assets 7.CQO 31,759 7.200 32,590 io Trustees None of the trustees lor any persons connected with them) received any remuneration or benefits from the charity during the year. 8ookkeeping, payroll and accounting services were provided by MBL18usiness and Tax Advi5ersl Limited in which one of the Trustees is a director. Fees for this work amount to £Nil in the year (2023.. £3,396). Included in ¢dItorS at the year end is as a balance relating to MBL in the amount of £Nil12023= £Nill. Trustees, expenses There were no trustees, expense5 paid for the year ended 31 December 2024 nor for the year ended 31 December 2023. 11 Employees The average monthly number of employees during the year was= 2024 Number Z023 Number 38 32 Employment Costs 2024 2023 Wages and salaries 580,317 514,322 The number of employees whose annual remuneration was more than £60.000 15 as follows.. 2024 2023 Number Number
THE CHILDREN'S ADVENTURE FARM TRUST LTD NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 li Employees (Continued) Remuneration of key management personnel The Trust consider5 it5 key m3nagement personnel to comprise of the Trustees and the Chief Executive. The totsl employee benefits including employer pension contributions of the key management personnel was as follows-. 2024 2023 Aggregate compensation 60.370 71.453 12 Tangible fixed assets Freehow land Plant. mathinery Fixtures, frttw and buildines and motor and equiwnent vehKle5 Total Cost At l January 2024 1,546,515 193,545 511,136 2,251,196 At 31 Detember 2024 1.546.515 193.545 511,136 2,251,196 Depreclatlon and Impalrnient At l January 2024 Depreciation charged in the year 850.170 26,093 184.561 2,317 505.822 3,349 1,540.553 31,759 At 31 December 2024 876,263 186,878 509,171 1,572,312 Carrying amount At 31 December 2024 670,252 6,667 1,965 678,884 At 31 December 2023 696,345 8,984 5.314 710,643 Freehold buildings includes land which is not depreciated. 13 Stocks 2024 2023 Finished goods and goods for resale 11,140 45,315 -23-
THE CHILDREN'S ADVENTURE FARM TRUST LTD NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 14 Debtors 2024 2023 Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income 1.801 26,950 2,369 2,626 4,427 29,319 IS Creditors: amounts falling due within one year 2024 2023 Other taxation and social security Trade creditors Other creditors Accruals and deferred income 11.744 29,237 17.471 7,881 9.525 6,646 3.340 16,912 66.333 36.423 16 Restricted funds The restricted funds of the chartty comprise the unexpended balan of donation5 and grants held on trust Subject to specific conditions by donors as to how they may be used. At l January 2024 Incoming resources Resources expended Transfers At 31 December 2024 Increase Service Capital Developments Pom Charitable Trust Pond Projert Festive Visit 66.533 250.000 66,533 250,000 9.912 16.0 2.2(K> 19,9121 16,000 12,2(x)I 316.533 28.112 I2,2) 19.9121 332.533 -24-
THE CHILDREN'S ADVENTURE FARM TRUST LTD NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 16 Restricted funds (Continued) Previous year= At l January 2023 Incoming resources Resources expended Transfers At 31 December 2023 Increase Service Capitsl Developments 66.915 20.250 250,000 120.6321 66.533 250,000 66,915 270,250 20,632 316,533 l. Increase Service This fund comprises monies received to increase service provision for children with life limiting conditions. 2. Capital Developments This fund comprises monie5 received to fund a proposed new development. If this development Is not progressed, then there is provision for the monies to be use(1 on other projects. 3. Pom Charitable Trust This fund comprises monies received for residential ViSTts. Expenditure took place out of unrestri¢te(I funds during the year. The amount received has therefore been transferred out of the restricted fund and into unrestricted funds at the year end. 4. Pond Project This fund comprises monies received for the refurbishment of the existing pond within the sensory garden. 5. Festive Visit This fund comprises monies received for a festive visit for a number of children. 17 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 a5 to how they may be used. These include designated funds which have been set aside out of unrestrirted funds by the trustees for specific purposes. At l January 2024 Incoming resources Resources expended Transfers At 31 December 2024 General funds 1.573.409 1.009.430 11.155,6431 9.912 1,437,108 Previous year: At l January 2023 Incoming resources Resources expended Transfers At 31 December 2023 General funds 1.617.760 981.569 11.025.920) 1.573.409 -25-
THE CHILDREN'S ADVENTURE FARM TRUST LTD NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 18 Analysis of net assets between funds Unreslricted funds 2024 Restricted funds 2024 Totsl 2024 At 31 December 2024: Tangible assets Current assetsllliabilitiesl 678.884 758,224 678,884 1,090,757 332,533 1,437,108 332,533 1,769,641 Unrestrirted funds Restricted funds Total 2023 2023 2023 At 31 December 2023: Tangible assets Current assets1lliabilitiesl 710,643 862.766 710.643 1,179,299 316,533 1.573.409 316,533 1,889.942 19 Operating lease commitments Lessee At the reporting end date the charity had outsLinding commitments for future minimum lease payments under non- cancellable operating leases, which fall due as follows: 2024 2023 Within one year Between two and five years 14,430 12,CK)O 13,166 21,875 26,430 35,041 20 Events after the reporting date The sports hall was flooded in January 2025 as a result of heavy rainfall. An amount of £31.079 was subsequently received in regards to this. 21 Related party transartlons There were no disclosable lated party transactions during the year other than that as disclosed in the trustees note. -26-
THE CHILDREN'S ADVENTURE FARM TRUST LTD NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 22 Cash generated from operations 2024 2023 IDeticitl/surpus for the year 1120,3011 205,267 Adjustments for.. Investment income recognised in statement of financial activities Depreciation and impairment of tangible fixed assets 113,5911 31,845 18,5731 32,590 Movements in working capitsl.. Decrease/lincreasel in stocks Decrease in debtors Increase in creditors 34.175 24,892 29,910 113.2351 42,752 3.499 Cash (absorbed byllgenerated from operations 113,0701 262,300 23 Analysis of changes in net funds The charity had no material debt dtjring the year. -27-