Charity Règistration No. 1004264 Company Registration No. 02600844 (England and Wales) SUNNYSIDE RURAL TRUST LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
SUNNYSIDE RURAL TRUST LIMITED IA Company Limited by Guarantee) LEGAL AND ADMINISTRATIVE INFORMATION Trustees and Directors M J Russell S Bradshaw E Bryan A Connors R Davies C Lundberg J Martin {Chairperson} (vice Chairpetsonl Directors (SR T Trading Limited) M J Russell K Siddiqui Chadick Secretary (Charity) K Siddiqui Chadick Chief Executive K Siddiqui Charlick Charity number 1004264 Company number (Charity) Subsidiary undertaking Company number (Trading Company) Principal address and registered office 2600844 SRT Trading Limited 0771543 Civic Centre 161-163 High Street Berkhamsled HP4 3HD Auditor Gowers Limited The Old School House Bridge Road Hunton Bridge Kings Langley WD4 8SZ Bankers HSBC Bank pl 181 High Slreel Berkhamsted HP4 3HQ CAF Bank 25 Kings Hill Avenue West Malling ME19 4JQ Solicitors Haowell & Atkins Boxwell House 275 High Slreet Berkhamsled HP4 1 BW
SUNNYSIDE RURAL TRUST LIMITED IA Company Limited by Guarantee) CONTENTS Page Trustees, report Statement of trustees, responsibilities Independent auditorfs report Statement of financial activities Balance sheet 14 Statement of cash flows 15 Notes to the financial statements
SUNNYSIDE RURAL TRUST LIMITED IA Company Limited by Guarantee) TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) The Iruslees present their report and consolidated financial 5talements for the year ended 31 March 2024. The accounts have been prepared in accordan wlh the accounting wliaes sel out in note 110 the accounts and comply with the chantable company's Memorandum and Artides of AsSocialn, the Companies Act 2006 and 'Accounting and Reporting by Charities= Statement of Recommended Pradice applicable to chanties preparing their a¢xounts in accordatKè wth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} {effectTrve 1 January 20191". Objectives and activitie5 Purposes and aims Our charitable aims and objectives as sel oul in the charitable companls Memorandum and thdes of Association are lo provide training and employment opportunities for young peOe and adults wrth learning disabi5ibes. OUR VISION Sunnyside Rural Trust has a vision of an inclu55ve community where all people are valued and enriched within a sustainable environment. OUR MISSION STATEMENT Sunnyside Rural Trust has a mission to FKovide services that will empower individuals lo tulfil their polents'al for their benefit and for the benefit of the wider community and environment. OUR VALUES 1 We value our people and work as a team. We: Listen lo each other and show rasp8d Ernpower people lo reach their goals in a safe enmronment Support everyone in a fair and inclusive way 2 We care deeply about our environmenL We offer inventive and sustainable seriices to the community. We stand for: Quality & stewardship Enterprise Reliability 3 We have a passionate."can do" approach to ourwork. We are: Resilient Creative Dedicated AIMS OF SUNNYSIDE RURAL TRUST 1 Provide exceptional day care services for at least 175 individuals wlh leaming disabilthes across three working horticultural sites 1150/0 of Hertfordshire's learning disabilities comrnunity}. 2 Provide work and skill oevelopmenl Dpportunitses for 50 vulneTabie individuals exduded from making ecorMiC and community Contributions due lo learning, mental health, or soaal disabilities. 3 Provide Iherapeuts'c inleNenlions for al least 200 vulnerable indivrduals iequiring support due to leaming, mental health, or social disabililies. 4 Maintain and IncaSe our Social enterprise activities to supplement the income of day care servi, cieate ernployment opportunities and underpin the ongoing sustainability of Sunnyside Rural Trust. 5 To actively improve our envir(Mfflent eSpecllY through growjng local f(. stewardship of the land. promoting biodiversity and suslain8bility by taking sitive acb.on lo become a sustainable, environmentally friendly Ofganisalion, tackling climat& change. 6 Maintsin and increase ¢Jur community presence with an excellent repulab.on across all areas of service delivery. acliviknes, and projects. 7 Maintain and increase our strong digital presence, publicity. and marketing strategy. 8 To onsure wo are financially robust and have diverse income streams lo meel our aims and obje¢livcs. 9 To create and maintsin excellent govemancè and stralegic suptK)rt to ensure we operate to the highest stsndards and best practice. 10 To ensure we have the best operatiNJ strucbjres for our people, animals and siles.
SUNNYSIDE RURAL TRUST LIMITED (A Company Limited by Guarantee) TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) Strategic Objectives To ensure we maintain our posihve felationship with day opporbjnilies commissioners and meet their standards operating within the Connected Lives model. To create a robust financial plan that will ensure cAJr work is possible and sustainable. twe have received a number of new contracls and need to ensure we have succession funding (multiply, IEP. Lottery social prescribing funding, orchard project elcl. We need to streamline our budgeting to ensure we can empower OUT managers and Irack progress efficiently}. To develop and enhance our social enterprises to allow us lo offer work experien, paid ernploymenl and independent income. To build upon our social prescribing contracts and ensure thal this much needed proviSn ¢xnlinues in the long temi. To maintain and grow aur supported employment and leaming contracts. To maintsin and build on our partnerships and networks wthin Dacorum and new afeas ofwork. To develop and deliver a coherent and effective maikeling strategy. To wnlinue valuing and developing our Workfo induding volunteers, paid staff and trainees investing in their wellbeing and skills. To develop and maintain an enwronmenlal sustsinability strategy. To develop and maintain coherent operab'ons plans for all SRT siles and develop a Svnnyside'operalions Toolktr lo assist in the delivery of those plans. To use our sites to work in partnership with specialist Ofganisations so we can suprKsrt people with dementia and mental health issues. To develop mre land-based sites in a wider area across Hertfordshire, Bedfordshire and Buckinghamshire. Ensuring our work delivers our aims We rèview our aims. objeelives and activities each year in line with our stralegsc plan. This rewew assesses our achievements and performance in the previous year. We give particular attention lo assessing the impact our work has had on the lives of adults with learning disabilities, their carers and the local community. We have ferred lo the Charity Commission s general guidance on public benefit when reviewing our aims and objectives and in planning our fvlure activilies. In particular, the senior management team and Iruslees consider how planned activities will contribute to the aims arml objectives they have sel. Our rnain objectives for the year conlinued lo be offering training and employment opw1unib.es lo young people and adults with leaming disabilities- and to develop our social enlerpnses. The year was dominated with the severe financial environment and a huge increase in people's anxiety and stress levels. We have pulled together as an organisalion and supported each other. We feel very proud of our efforts and perfomiance al every level and feel o)nfidenl we are in a strong poS.0n going forwards. Achievements and perf0mnCe Awards We maintained our Gold Standard in Investors In Peoe. Hemel Food Garden {HFG) won a green flag award fyom Keep Britain Tidy. This award recojnised the exllent communty facilities offered lo the community and environment from Ouf sile. We achieved the Hertfoidshire Care Providers Association IHCPAI Gold Award for cgre prowders. Trainee services For a third year, we secuied a Small contract with Hertfordshire County Council IHCCI to Tun therapeLrtic work with older people antt adulls wilh Oisabiliiies an¢J some a(Jdiiional lun(Jing trom grants. A Uiffereni group lo who we usually work with. 11 involves horticulture, animal and music and movemenL We Continued lo run our 3 cafés.. Hemel Fixxl Garden, Northchuich and at the Forum, the headquarters of Dacorurn Borough Council IDBCI in Hernel Hempstead. The new bakery service is now very popular and offering thetapeutic activity as well as supplying our cafes and shops. We continued to meet the exacting standards of the HCC contract offering a Servi lo over 160A of the leaming disability population in Hertfordshire and surrounding counties. Our Inclusive Employment Project contract ended in December 2023 and was reaCed with Roads 2 Employment, funded by HCC (Slep5 2 Ski115 and UK Share(I Prospenty fund). This proiecl suptx)rts hundreds of vulnerable people a year lo build their skills and confidence. We held various trainee parties and Tegular celebrations of work. New project workers across the board Tecruiled and added lo the budget to support group sizes. Revised files and improved goals and link working process.
SUNNYSIDE RURAL TRUST LIMITED IA Company Limited by Guarantee) TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) Horticultural work and 9nvironmental impact We have undertaken a number of creab.ve and innovative (Imimunity gardens acmss Dacorum including a barge planter al Durranls hill playing fields by the canal. butterffly garden in Wamers End, Planet gafden off Salum Way in Highfields and a shield in Keens Field. W& continue lo work dosely with Dacorum Borough Counul lo enhance our green presence in the community. We are building our repL'tab'on for designing and creah'ng gardens. We grew a third of the plants for Carol Klein's Horbcullural rcon gaiden al 2023 Hampton Court. We plan lo grow lor Aril Anderson's RHS feature garden at Hampion C¢)urt Flower Festival 2024. We continue lo grow the bedding contract for DBC and support their move lo penn1a1$. We have collected data lo improve Ihe long term effectiveness of our environmental campaign. Ensured environmental impact is priorilised in all deciston maknng. Continuing peal fe gTowing, as one of the first producers of peal free bedding in the U Growing rnore perennials in an effort to be moTe sustainable and erwuraging our customers lo rnake the rnove trom bedding. Taking on eco- maintenance gardening projects across the county, with backing fron7 the Comrnunity Green Fund. Maintaining our Green Flag award status. Maintain our chemical free growing practice. On all our siles we have improvèd the biodNersity and promoted pdlinators populations through beekeeping, planting schedules and sympathetic mowing regimes. Human Resources We have grown as an organi>ation and over the last year we have spent time reslrucluring. recruiting new roles and consulting our stakeholders including the team. We have undertaken a huge amount of work lo ensuie we have the support and capacity to continue our wonderful services and thrive. We have" Continued our Iraining budget for the next year lo support career progression of staff. Conducted an organisalional pay review leading lo pay rises and new scales to work towards. Commilled lo the real living wage. Created new opportunities for pay. We created a team wellbeing budget and wellbeing strategy All policy and procedures updated including Efflployee Handbook remew. Sile budgets are in pla and team development funds have been allocated. We are seeking to fecruit a Chief Finance and Adfflin Officer ICFAOI lo support the conts'nued growth of the organisalion. Site Development Money available for assIble gardening equipment. a site budget every quarter for managers to buy small items they need outside of their normal spending. Credit cards for managers lo increase the speed and efficiency of purchasing. purchasing a number ol new laptops and desktops. The Chief Operating Offiw ICOOI undertaking seasonal ops walk rounds and written ops plan in place, focused corporate support and resour$ encouraoed. dearinq of while qixxls from all siles. Specific sile improvements.. Northchurch Accessible tools and pathways created. WiFi lo Caravan and Sunmerhouse. Taken on the lease for what was Sunnyside NuFSèry. an addiliortal 1.3 acres. Air conditior>ing in shop. Car park plan foT restjrface. Hemel Food Garden Toilet block rebuild Roofing repairs across sile Complete refit of HFG café kitchen thanks lo Cardo Activity Centre Plans lo refurbish the building undeThYay SSN shed rèfit New vehide
SUNNYSIDE RURAL TRUST LIMITED IA Company Limited by Guarantee) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORTI The Orchard Nursery WÈ plan lo open in September 2024 and have spent much of the year raising funds and building Suvi Fisher Payne hired as manager from 1 April 2024 Greenhouse constructed Funding being sought for horticultural therapy work Communication l infrastructure Nvw Liudid Ivpuiliiiy aiid Ilubiee visiis to en[laYe open lines of direGt (ximffluniration between Board aryj teams. Trainee video feedback lo Boar(l and trustees. Response from trustees tetumed via video. Ho.CultUral contract meelings sel up and running so teams can see the work coming in and plan. CEO comms aimed al every quarter, giving broad strategic informaticffl. New IT system with additional support. New business plan wth extensive consultation. Partnership work Corporate volunleers have played a significant role in this year. Our new volunteer cwrdinalor has been instrumental in building this area of our work. We had had sUPPOrt from DLL, Boume Leisure, Caido: Henkel, HSBC, NFU Mutual, Hilton, ABC UK, Horohoe Constructs'on, Buuins, Wales group, TLC group. Wl)ipsnade Zoo. RHS, NGS, Serge Hill Project. The Grove, Watford Chamber of Commeroe, Dacorutn Borough Council and Hertfordshire County Council. Financial matters including perfonnance and social enterprise We enjoyed our bc".t financial perfomance for tumover and Ihis was largely due lo work (x)ntracts and thg p9rfomance of social enterpnses. Grants to improve our sites including: Orchard Project Julia & Hans Rausing granted £100.000 to our new Orchard Nursery project. Randle Siddeley sponsoied the greenhouse at our Orchard Nursery piojecl. Screwfix Mercerfs Company Foundation Slockwell Cliffe Trust Foundatton Tom and Sue Stuart-smith Tough Ten cotnmittee Cardo supply toilets, kttchen and lloorin9 Supported Employment and training funds UK shared prosperity fund for Road 2 Employment Herttordshire County Counc41 IHCC)- Indusive Empioyment Project HCC - Muibply Project Social prescribing funding Hertfordshire Community Foundation IHCF) wellbeing funds HCC via HCF- community group fundirvJ HCC Physical activity grant The National Lottery granled us 3 year funding for community wellbeing. This f(Kms a whole new stream of work based on the work we undertk in COVID19. We wjll offer animal therapy, music and movement, horbcullural therapy and baknng. Environmental and gardening funds DBC-community gardens UK shared PTosperity fund
SUNNYSIOE RURAL TRUST LIMITED (A Company Limited by Guarantee) TRUSTEES, REPORT {INCLUDING DIRECTORS. REPORT) Capital funding Cardo- kitchen refil NFU Mutual- compost toilet al Northchurch Cllr Nigel Taylor fruit cages al rhe Activity Centre Cllr Terry Douris- Mr condiboning for Northchurch sh)p Cllr William Wyatt Lowe- tools for Hemel Food Garden HSBC . accessible pathway5 and tools DLL- site improvements How our activities deliver public benefrt The charity's trustees have complied with their duty lo have due regard io the gUIdan on publtc benefit published by the Charilies Commission in exercising their powers and duties. We offer a range of benefits lo our community including.. Work skills and employment lo young people and adults learning disabilities. ConseN8lion work in the local environmenL High quality social enterprises where the community can shop and leel good about their pijichases. Challenge perception5 01 how the public see people with leaming disabilities, by showcasing their talents. Our social impact is sigriificanl. For every £1 spent al Sunnyside, £9 is saved in statutory services. Who used and benefited from our seThicÈ5 We supported over 170 adults aged 17 and above to use our services each week Ihroughout this period. In addition, we provided an indirect service lo parents and carers of people who attend Sunnyside by offering valuable respite. Over 11)0 people benefited from our supported employment and social presoibing work in 202312024. Strategic report The description under Ihe headings 'Achievemenls and perf0mn. and 'Financial reWe meet the company law requirements for the tnjslees lo present a strategic tew)rt. Financial review The Trust continues lo seek ways lo dIVefy ils incA)me lo ensure a robust financial future. The Trust has developed sound financial management systems and along with the support ol the team has generated a positive financial outcome for the period. The Trusl has had success in 9ranl applicaltons which are detsned eartier in this reporL Our principal funding Source is from our Hertfordshire County Council training and work contract. This funding 9S towards direcl service costs e.g. salaries, administration, service costs and transport. Reserves policy 11 is the policy of the tmslee5 to maintain free reseNes OT al least Ihree month's running costs lo enable the charity lo meet all the cornmensurale costs in the event of the extreme scenario of wnding-up, the running costs reserve is £600,000 al the year end. The level of reserves is monitored and reviewed annually by the trustees. Following the nstrUction of the Comtnunity Hub al Northchurch we created a fund which matches the capital c05t of the Hub net of depieciation, this fund has deprecialion ol the assel diaiged lu il and the balance matches the net cost of the asset in the ffinancial statements. The strategic committee has created a developmenl fund of £250.000 in designated funds. The Trust wishes lo invest in agricultur81 land lo further ils, horticultural therapy work. Al the year end, we have reslricled funds carried fOard of £236.001 {2023'. £255,911 I. After designations the unrestricted fund balance for general use carried forward is £423.07312023.' £200,829). Investment policy I reserves not required for day to day operational costs are invested tn a(Unts with the Charities Aid Foundab'on and Cambridge & CoL*nties Bank.
SUNNYSIDE RURAL TRUST LIMITED {A Company Limited by Guarantee) TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORTI Financial Risk Review Internal nsks are minimised by the impiementab'on of procedures for the authorisalion of all transactions and projects and to ensure consistent quality of delivery for all operational aspeds of the charity- These pl(lre$ are periodically rewewed lo ensure that they still meet the needs of the charity. The Directors have conducted their own review of the major risks lo which the charity is exposed and have estsblished systems lo miligale those risks. These rt5k5 indLMle damage to reputabon, criminal acts. dats loss, health and safety, and change lo funding sources. Plans for the future We want lo use the development funds we have secured lo build the skills within our team at all levels. We have begun lo think about what people resources we might need to siJpw)rt our growth and operations. We need to build capaaty wilhoul losing site of our aims and values. We have grown a lol in recent years, and we need to ensure we have the right senior leadership slruclure lo tske us forward. We will hire a CFAO by the end of 2024. We will have an updaled RACI model, organisational strucltire & skills matrix. We have reiVed a number of new contracts Imulliply. IEP, Lottery social prescribing funding, orchaid project elcl. We need lo streamline our budgeting to ensure we can empower our managers and track progress effiaenuy. We wll set largels for each work line. and this will be built into our intemal management system. We have developed operational plan for each site. and we need to build planning around their implementation. The COO will lead on this and ensure CO•producb'on with teams, trainees and key stakeholders are involved. This work should lomi part of a 3-year plan for each service. Officg space is a kay issu8 wth a growing team and g move away from paper to IT systems. We need to have a plan lo pn.qurp. niir team have the skills as well as 8 safe and positive space to work. the eqLtipment and support setvices. We plan lo move over lo Tearrs by the end of 2024. We need to ensure we support our team with their wellbeing, al a time of mUlti[e chalenges. We will continue lo develop and implement a wellbeing strategy, budget, HR support service. mentsl health champions and in house provision. In response lo the cost of living rises we have completed a pay scale rewew. implemented 1st April 2024. We will be reviewing our job evaluation procedure, so all our team are dear how to prcoress with aSSLKialed KPIS. All ))b desciiptions will be reviewed and built into the appraisal process. We need to revisit Ihe WOTk we completed in 2020 on cosl benefit analysis foT each work slream. Thi5 will provide the foundalion lo assess where we invest and grow. particularly social enterprise. We wll creale a thoughtful budget tOT this year lo cover the diversity of our funding and fluctuating costs. We need lo systemise our work lo ensure we are efficient. We have grown to a large medium size charity with 64 employees and need lo adopt a new way to record and store informab'on. The COO has implemented a new CRM system for HR matters, and this is a significant step forward. We need a dalabase for contacts, infomiab"on. for buildinq strong communication systems. To see our new projects come lo life, in parbcular the Orchard Nutsery, Rectory Fann. The Grove, Whipsnade Zi)0 partnership & Healhboume Green. Structure, govemance and management Governing Document, Company Status and Constitution The charity is controlled by its goveming document. a deed of trust. and (xjnslitules a company limited by guarantee as defined by the Companies Act 2006. Recruitment and Appointment of Management Committeè The Injslees, except as noted I'l, are also the directors lor the purpose of rA)mpany law. and who seTved during the year were.. M J Russell (Chairperson) J Laws (Vice Chairperson) S Bradshaw IViGe Chairpetsonl E Bryan A Connors R Davies C Lundberg J Martin W Conian. IResigned 08 September 20231 (Appoinled 02 October 20231 {Appoinle(103 January 2024} (Appointed 27 February 2024) IAppoinled 27 February 2024)
SUNNYSIDE RURAL TRUST LIMITED IA Company Limited by Guarantee) TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) The directors of the company ale also chartrty tnjslees for th& purpose of charitylaw and under the company's Artides are known as rnembers of the management committee. Under the req¢Jirements of the Memorandum and Artides of Association the members of the management committee are elected lo serve fcf a per of three years after which they musl be reelected al the nexi Annual General Meeting. All members of the managetnent corllmittee give their tyne volunlanly atyj receive no benefits from the charity. Any expenses redaimed from the charity will be sel out clearfy in Ihe notes in the acccMJnts. New ttustees are invited onlo the Board by the exisiing Eruslees. having been made aware of Ihe aims and scope of the chanty and of their dut'es and responsibilities as trustees. The Injslees rellecl the needs of the charity and the dient group it serves and Dffers a wide range Df skills and expenence. The Chair of the Board of trustees meets each new thjslee to provide trustee inducti)n. The Chief Executive Officer PTovides a guided lour of all services, infomiatson on the history of the organisalion and current operations. Organisational structure The Board of Tfuslees consists of up lo 8 people and meets four times a year lo direct and oversee Ihe work of the charity. The Chief Executive Officer manages the charity on a day-to4ay basi5. The Trust has a number of strategic sub (x)tnmittees of the Board. These committees allow for Board members and operational staff to consult and diwjss matteT5 before advising the Board of Trustees. Related parties The Trust is guided by both loc21 and national tx)licy where it lateS to the aims and objectives of the Trust. The Trust is particulady keen lo rneel the relevant policy and strategic aims of Hetttordshire County Council as its principal funding source. where they are in line with the aims and objectives Df the Trust e.g. Valuing People Now: personalis8lJon agenda and Health and Safety legislation. The Trust continues to work hard promobng its work and raising the local profile of Ihe charity. We have achieved this through developing partnerships with other local groups, speaking al local groupsleverrtslconferences, regular market stalls, presence al local events, our annual reportlcalendar, social media and website. Risk management The Iruslees have a duty lo identify and review Ihe risks to which the chanty is exposed and lo ensure appropriate controls are in place tt) provide reasonable assurance against fraud and effoT. Thts has been achieved through the risk management policy and is reviewed on an annual basis. The Iruslees and Chf Executive Officei have agreed a strategic plan which has assessed all significant nsk to the organi581ion and a plan of acb'on for managing this. The Chief Executive Officer is responsible for managing all inlemal and operational nsk lo the organisation and reports to the tru51ees every 3 months. Auditor In accordance wlh the cOMny,S artides, a resolution propK)sing that Gowers Limited be reappointed as auditors of the company will be pul al a General Meeling. The Iruslees, report was approved by the Board of Tnjstees. M J Russell Trustoe Date.. 26 November 2024
SUNNYSIDE RURAL TRUST LIMITED (A Company Limited by Guarantee) STATEMENT OF TRUSTEES, RESPONSIBILITIES Tliv tru51ee5, who <iie d15v Ilie diieLluts vl sui1riysid Ruial Tiusl Lliiiilj lor Ihe purFNJse of (nmpany law, are responsible for preparing the Trustees, Report and the financial statements in accordance wilh applicable law and United Kingdom Accounting Standards Iuniled Kingdom Geneially APted Accounling Practice). Company Law requires the trustees lo prepare financial statements for each financial year which gtve a true and fair view of the stale of affairs of the charity and of the incorning resources and application of resources, including the incorne and expenditure, of the charitable company for that yeai. In preparing these financial slalemenls, the Iwslees are required to-. select suitable accounting policies and then aptly them consistenlly., observe the methS and pnnciples in Ihe Charits'es SORP., make judgements and eslimales that are reasonable and prudent: slate whether applicable UK Accounting Stsndards have been fc4k)wed. subject to any material departures disclosed and explained in the financial stalemenls., and prepare the finanaal stslements on the going corKem basis unless it is inappropriate to psume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting re(x)rds that disdose with reasonable accuracy al any time the financial position of the chafily and enable them lo ensure that the financial slalernents comply wth the Companies Act 2006. They are also responsible for safeguarding the assets of the chanty and hence lor taking reasonable steps for the prevention and detection of fraud and other irregularities.
SUNNYSIDE RURAL TRUST LIMITED {A Company Limited by Guarantee) INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF SUNNYSIDE RURAL TRUST LIMITED Opinion We have audited the financial statements of Sunnyside Rural Trust Limited {the 'charity') and its subsidiaries Ilhe 'group'l for the year ended 31 March 2024 whith. comprise the consolKlaled slalement of finanaal acliwties, the group and charity balan sheets, the consolidated statements ol cash flows, the prinapal accounb'ng policies and the notes lo the financial stslemenls, induding a summary of significant accounb'ng poliaes. The financial reporting framework that has been aPled in their pParab.on is applicable law and United Kingdom Accounting Standard., including Financial Reporting Stsndard 102 The FinenGi&I Reporting vlandard 8ppIic8ble in the UK and Republic of Ireland {United Kingdom Generalty Accepted Accounting Practice). In our opinion, the financial slalements.. give a true and fair view of the slate of the group's and of the charitable companvs affairs as at 31 March 2024 and of the group's income and expenditure, for the year then ended., have been propedy prepared in accordance with Unrted lQ'ngdom Generalty Accepted Accounting Practice., have been prepared in accordance wtlh the requ1mentS of the Charities Act 2011. Basi5 for opinion We conducted our audit in accordance Mth InlematiorI Stsndards on Audiling (UK) IISAS IUKII and applicable law. Our fesponsibililies under those standards are further described in the Audilorfs SponSibl1111es for the audit of the financ*al slalements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant lo our audit of the financial slalemenls in the UK, including the FRC'S Ethical Stsndard, and we have fulfilled our other ethical responsibilits'es in accordance with these requirernents. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Conclusions relating to going concern In audilillg the financial slalaments, we have conduded that the trustees, use of the going conrn basis of accounting in the preparstion of the financial statements is appropriate. Based on the work we have performed. we have not identified any material un(%rtainties relating to events or condits'ons that, individually or collectively, may cast signifi(2nl doubl on the charity's ability lo continue as a going cOnM for a period ol al least hvelve months from when the finanaal stslemen15 are aut)nSed for issue. Our responsibilities and the responsibilities of the IFUStees with resped lo going corwn are described in the relevant sections of this report. Other information The other infomialion comprises the infomation induded in the annual report other than the finanual statements and our audilorfs report Ihereon. The Iruslees are responsible for the other informab.on contained within the annual reporL Our opinion on the financial statements does not cover the other inf0mtiOn and we do not express any fomi of assurane£ conclusion Ihereon. Our responsibility is to read the other infomialion and, in doing so. consider whether the otheT information is materially inconsistent with the financial statements or OUT knowledge obtained in the course of the audit. or otherwise appears lo be n7alerially misstated. If we idenb'fy such material inconsistencies or apparent material misstaiements. we are required la dplprming whplhp.r thi.s givp.s rise lo a material misslalemenl in the financial stslements themselves. If, based on the work we have perfomied, we condude that there is a material misststemenl of this other information. we are required to port that fact. We have nothing lo report in this regard. Matters on which we are required to report by exception We have nothing lo report in respect of the following matters in refalion lo which Ihe Charities IAccounts and Reports) Regulalions 2008 require us lo report lo you if, in Oltr opinion.. the infornalion given in the financial stalèmenls is inc(sistenI in any malertal respect wth the trustees, repor¢. or sufficient accounting records have not been kept., Of the financial slalements aTe not in agreement with the accounling records; or we have not received all the information and explanations we require for our audit.
SUNNYSIDE RURAL TRUST LIMITED (A Company Limited by Guarantee) INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF SUNNYSIDE RURAL TRUST LIMITED Responsibilities of trustees As explained mc)re fully in the statement of tnjslees, restK)nsibilibes, the trustees are responsibl& for the preparation of the finanal statements and for being satisfied that they give a true and fair view, and for suth intemal contrd as the trustees determine is nesSary lo enable the preparalion of financial statements that are free ffom material misslatemenl. whether due lo fraud or error. In preparng the financial slatetnents, the trustèes are responsible for assessing the charity's ability lo continue as a going concem, disclosing, as applicable. matters related to going concem and using the going conceffl basis of a¢counll"ng unless the Irusiees either intend ID cease operations, OT have no realistic allematiye bul lo do so. Auditofs responsibilities for the audit of the financial statements We have been appointed as auditors under section 144 01 the Charities Act 2011 and report in accordance wth the Act and relevant regulations made or having effect Ihereunder. Our objectives are lo obtsin reasonable assurance abt whelher the finanaal statemenls as a whole are free from material misslatemenl, whether due lo fratjd or error, and lo issue an audilor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conduded in accordance with ISAS IUKI will always detect a material misslalemenl when it exists. Misslalemenls can arise from fraud or error and are considered rnaterial if, individually or in the aggregate, they could reasonably be expected Eo inlluence the economic decisions of Ljsers taken on the basis of these financial statements. Irregularities, inclijding fraud, are instences of norkComplian with laws and gulatiOnS. We design procedures in line with our responsibilities, oullined above, lo delect material misslalements in respect of itregularÉtses, induding fraud. The exlenl to which our procedures are capable of detecting irregularities, induding fraLMI. is detailed below. In identifying and assessing risks of material misstatement in respect of irwuiarities, induding fraud and non-cornpliance with laws and regulations, our procedures included Ihe followng= considering the nature of the tharilable sector. the chartvs control enmronment and performance: results of our enquiries ol managemenl and the Iruslees aboul their own identsfication and assessment of IegUlarities', any matters we identified having reviewed the charity's procedures relating to idenlifyiryJ. evaluating and complwng with laws and regulatsons and whether they were aware of any instances of non-compliance. detecting and responding lo the risks of Iraud and whelher they have knowledge of any actual. suspected or alleged fraud., and the internal systems established lo miligale risks related lo fraud or non-compliance wth laws and iegulalions. the matters considered by the engagement team. regarding where fraud might occur in the financial statements and any polenlial indicatOTS of fraud. As a result of the above, we considered the opportunities and incentNes that may exist within the organisalion for fraud and identified the greatest potentsal for fraud in management override of contro5s. In common with all audits under ISAS IUKI, we are required lo perfom specrfic procedures to respond to the risk of managemenl ovetride. We also obtained an understanding of the legal and regulatory frarnework in which the charity operate5. f(xusing on provisions of those laws and regulations that had a direct effecl on the determination of matenal amounts and disclosures in the financial statements in this case, speryfically in this context, Charities Act ?n11 C.nmpAnips Ae.1 ?0flfi gnd 12x Ip.gi%latinn. In Addilian wg. cnnqid91PtI pravisinns of nlher laws and regulations that do not have a diTecl effect on the financial ststements but rA)mpliance wth which may be fundamental lo the charity's ability to operate 01 lo avoid a material penalty. 10
SUNNYSIDE RURAL TRUST LIMITED (A Company Limited by Guarantee) INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF SUNNYSIDE RURAL TRUST LIMITED Audit response to risks identified Having perfomied the above. we did not identrfy any key a111 matters lated to the potential risk of fraud or non-compliance w((h laws and regulations. In addition lo the above, our pro(Edures to respond lo risks idenlified included the following.. reviewing the financial statement disclosures atmt lesling to supportitvJ documentation to assess cornpliance with relevant laws and regulations discussed above., enquiring of managemenl. the Iruslees and in-house management conMIng aclual and potential litigation and claims., review of minutes of Iruslees, meetsngs.. perfortning analytical procedures to idenb'fy any unusual or unexpected relationships that may indicate risks of material misstslemenl due lo fraud., and in addressing the risk of fraud through management override of controls, rewewing the appropriateness of journal entries and other adjustments., and evaluating the business rationale of any significant transacb.ons that are unusual or outside the normal course of business. We also comnunicaled relevant identified laws and UlaI10ns and potential fraud risks lo all engagement team members, and remained alert lo any indications of fraud or non-complian vnth laws and regulations throughout the audit. A fvrther descriptson of our responsibilibes for the audit of the financial statements is located on the Financial Reporting Council's website al: http.'Ilwww.frc.org.uklauditorsresponsibililies. This des(Jipt4)n fomis part of our aud((0rf5 retx)rt. Olhei Intitter5 Your attention is drawn lo the fact that the charity has prepared finanaal slalements in accordance wilh "Accounting and Reporbng by Charities.. Slal&menl of Recommended Practi applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard appliCae in the UK and Republic ol Ifeland IFRS 102}. las amended) in preference to th& Accounting and Reporting by Charities.. Slalement of Recommended practi issued on 1 April 2005 which is referred lo in the extant regulations bul has now been wthdrawn. This has been done in order for the financial slatements lo provide a bue and fair view in accordance with current Generally Accepted ACunting Practice. Use ofour report Thi5 report is made solely to the group's twslees, as a body, in accordance Imth part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might stale lo the group's trustees those matters we are required lo slate lo Iherr in an auditors, report and lor no other purpose. To the fullest extent permitted by law: we do not accept or assume iesponsibility to anyone other than thè group and the gioup's trustees as a body. for our audit work, for this Teport, or for the opinions we have vid Green Senior Statutory Auditor Gowers LimÈted Dale: 26 November 2024 Chartered Accountants Statutory Auditor The Old School House Brtdge Road Hunton Brty Kinqs Lanql¢v WD4 8SZ Gowers Limited is eligible for appointrnenl as auditor of the charity by virtue of ils eligibility for appoinltnent as auditor of a company under section 1212 01 the Companies AGI 2006. 11
SUNNYSIDE RURAL TRUST LIMITED {A Company Limited by Guarantee) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES Ilncluding Income and Expenditure Account} FOR THE YEAR ENDED 31 MARCH 2024 Current Year Unrestricted Funds Restricted Funds 2024 Totsl Funds 2023 Total Funds Notes Incomin Donations from: 107.641 8,530 116.171 Income from chantable ac1ivrfs.' Day training and employment Income from other trading actsvities.. Fundraising activities Trading activities Investment income 988,277 792.895 1,781,172 1,405,859 1,675 111.860) 23,974 1,109,707 1,675 111.8601 23,974 63 40,370 11,190 1,514,572 Total income 801,425 1,911.132 enditure on: Costs of raising funds.- Fundraising activities Expenditu on chaitable aclivibes.. Day training 8nd employment Total expenditure 5.25Y 6,925 1,877 10 902,012 907,271 817,466 1,719,478 1,726,403 1,435,693 1,437,570 819,132 Net ineominglloutgolngl resources before transfers 202,436 2,203 {17,7071 12,203} 184,729 77.002 Gross transfers beiween funds Net incomellexpenditurel for the yearl Net movement in fund5 204,639 (19,9101 184,729 77,002 Funds balances at 01 April 2023 1,287.499 255,911 1,543,410 1,466,408 Funds balances at 31 March 2024 1,492,138 236.001 1,728,139 1,543,410 The ststemenl of financtal adiwties indudes all gasns and losses recongnised in the year. All incoming soUrceS and resources expended derive from conlinuing actTrwlies. The statement of financial aclwities also complies with the requirements for an income and expenditure account under the Companies Act 2006. 12
SUNNYSIDE RURAL TRUST LIMITED IA Company Limited by Guarantee) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES Ilncluding Income and Expenditure Account) FOR THE YEAR ENDED 31 MARGH 2023 Prior Year Unrestricted Funds Restri¢tsd Funds 2023 Total Funds Notes Incomin nr)nalions from.. 57,OgJ 57,090 Income from charrtable activthes.. Day training and employment Income from other tfftding acfy'¥rtAes.' Fundraising activities Trading activities Investment income 884.754 521,105 1,405,859 63 40,370 40,370 11.190 11,190 1,514,572 Total income 993,467 521,1a5 enditure on: Costs of raising funds.. Fundraising activities Expenditure on charitable acbvities.- Day training and employment Total expendlture 1,518 359 1,877 10 994,316 995.834 441,377 441,736 1,435,693 1,437,570 Net incominglloutgoingl resources before transfers {2,3671 2.043 79.369 77,002 Gross transfers beiween funds 12.0431 Net incomellexpenditure) for the yearl Net movement in funds (3241 77,326 77.002 Funds balances at 01 April 2022 1.287,823 178.585 1,466,408 Funds balances at 31 March 2023 1,287,499 255,911 1,543,410 The 5talemenl of financial actNib'es indudes 811 gains and losses re(ngnised in the year. incoming resources and resources expended derive from nIlnUing activthes. The stslement of financial activities also complies wilh the requirements for an income and expenditure account under the Companies Act 2006. 13
SUNNYSIDE RURAL TRUST LIMITED {A Company Limited by Guarantee) CONSOLIDATED BALANCE SHEET AT 31 MARCH 2024 Group 2024 Charity 2024 Group 2023 Charity 2023 Notes Flxed assets Tangible assets Fixed Asset Investments 15 16 434,826 317,995 441,355 354,930 a34,826 317,996 441.355 354,931 Current assets Stock Debtors Cash at bank and in hand 18 19 43.613 278,635 1,062,091 1,384,339 28,525 205,673 1,005,413 1,239,611 563.568 874.694 1,438,262 353,977 807,155 1,161,132 Creditors.. amounts falling due within one year 20 (88,7941 1.295.545 (49,4021 1,388,860 (133.0911 1,106,520 148,578) 1,112,554 Net current assets Total assets less current liabilities 1,730,371 12,2321 1,706.856 1,547.875 14,4651 1,467,485 Credito¥s.' Amounls falling due after more than one ye 21 Net assets 1,728,139 1.706,856 1.543,410 1,467,485 Income funds Restricted funds 22 236,001 216,544 255,911 234,251 Unreslricled funds Designated funds Other unrestricted funds 23 1,069.065 423.073 1,069,065 421,247 1.706,856 1,086,670 200,829 1.543,410 1,086,670 146,564 1.467,485 1.728,139 The financial statements on pages 12 to 31 were appfove(i by the Tfuslees, and authorised lor issue on 26 November 2024 and are signed on their behalf by= M J Russell Trustee Trustee Company Registration Number: 02600844 14
SUNNYSIDE RURAL TRUST LIMITED (A Company Limited by Guarantee) CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 Notes 2024 2023 Cash flows from operating activities Cash generated from operations Investing activities Purchase ol tangible fixed assets ProrF.pds on disposal of tangible fixed assets Interest received 29 90,948 116,852 15 158,2521 147.1911 6.046 11,190 129,9551 23,974 134,2781 Net cash generated fromllused inl investing activities Net cash used in financing activities Net increase in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year 56.670 86.897 1,005.421 1.062.091 918.516 1,005,413 15
SUNNYSIDE RURAL TRUST LIMITED (A Company Limited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting polities Charitable group information Sunnyside Rural TnJ5t Limited is a private company limited by guarantee incorporated in England and Wales. SRT Trading Limited is a private company limited by shares incorporated in England and Wales. The registered office for both organisalions are CivTrc Centre. 161- 163 High Street. Bed(hamsted, Hertfordghire, HP4 3HD. 1.1 Accounting convention The financial slalements have been prepared in accordan wilh the tharilable group's Memorandum and Arbcles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounls in accordance with the Financtal Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)° leffecbve 1 January 2019). The charitable group is a Public Benefil Entity as defined by FRS 102. The finantial slalements are prepared in sletling, which is the fijnctional currency of the charilable group. Monetsry amounts in these financial statements are rounded lo the nearest £. The financial ststements have been prepared under the histOriC21 cost Conventn. The principal a(xy)unting policies adopted are sel out below. 1.2 Going concern Al the lime of approving the financial statements, Ihe Iwslees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The trustees CAintinue to adopt the going concern basis of acun'ng in preparing the finan¢ial slalements and no adjustsnenls lo the results or the carying values declared in these financial stslemenls are required. and none have been made. 1.3 Charitable funds Unreslricted funds are available for use al the discretion of the Iwslees in rtherance of their charitable objectives unless the funds have been designated for other purposes. Reslricled funds are subject to specthc conditions by donors as lo how they may k used. The purposes and uses of the restricted funds are set out in the notes to the finanual statements. 1.4 Incoming resources Incorne is Tecognised when the charity is legally entslled lo it after any [erforMan conditions have been mel, the amounts can be measured reliably, and it is probable that income will be reIved. Cash donation5 are Tecogni5ed on recEipt. Other donalions are recognised once the Gharity has been notified of the donation, unless performan conditions require deferral of the am(iunl. Income tax recoverable in relab'on lo donations received under Gift Aid or deeds of covenant is recoqnised at the b'me of the donation. Legacies are recognised on reIpl or otherwise rf the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known. the legacy is Irealed as a contingent asset. 1.5 Resources expended Charitable expenditure comprises those costs incurred by the charity in the delivery of ils activitres and servtces for its beneficiaries. 11 includes both rxjsts that can be alk)caled directly lo such activities and those costs of an indirect nature necessary lo support them. Govemance costs indude those costs associaled with meeting the constiluts'onal and slaiuloryrequiremenls of the charity and include the audit or independent examination fees and cosls linked lo the strategic management of the charity. 16
SUNNYSIDE RURAL TRUST LIMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1.6 Tangible fixed assets Tangible fixed assets are inits'ally measured at cost and subsequenuy measured al cost or valuation, nel ol depreciation and any impaiimenl losses. Depfecialion is recognised so as lo write off the cost or valuation of assets less their residual values over their useful lives on the following ba5es.' Leasehold propety Tools ard Equipment Fixtures: Fitbngs anii Computers Motor Vehiclè5 ovw 20 years over 3 years 3-5yeats over 4 years The gain or loss arising on the disposal of an asset is detemiined as the differen between the sale proceeds and the carying value ol the asset, and is recognised in net incomellexpenditure} for the year. 1.7 Fixed asset investments Fixed asset investrnents a initially tneasured al transaction price exdudirwj Irdnsaction costs, and are subsequently measured al fair value al each fepoiting date. Changes in fair value are re(J)gnised in nel incomellexpendilurel for the year. Transaction costs are expensed as incurred. A subsidiary is an entity controlled by Ihe charity- Control is the power lo govem the financaal and opèrating policies of the entity so ab lo ubLaiii bviiefilb" frufn itb- aGlivilies. 1.8 Impairnient of fixed assets Al each reporting end dale, Ihe charity rewews the Carrng amounts of its tangible assets to detemiine whether there is any indication that those assets have suffered an impainnent loss. Ilany such indication exists, the recoverable amount of the asset is eslimaled in order lo delemiine the extent of the impaiTmenl loss lif any). Intangible assets wlh indefinite usefu5 lives and witsngible assets not yel available for use are tested for ifflpairment annually, and whenever there is an indication that the assel may be impaired. 1.9 Cash and cash equivalents Cash and cash equivalènts indude cash in hand, deposits held al 11 wth banks, other short-tem liquid investments with original malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown wthin borrowings in current 1.10 Financial instruments The charitsble group has elected lo apply the provtsions of Section 11 'Basic Financial Instnjments, and Section 12 '01her Financial Instruments Issues, of FRS 10210 all of its financial in51nJments. Financial instruments are recognised in the charitable group's balan sheet when the charitable group becomes paty lo the conlraclual orovisions of the instrufflenl. Financial assets and liabilities are offset, with the nel anK)unts presented in the financial stalemenls, when there is a legally enforceable right lo set off the recognised amounts and there is an intention lo setde on a nel basis lo realise the asset and settle the liability simultaneously. 17
SUNNYSIDE RURAL TRUST LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Financial instruments {cont'd) Basic financial assets Basic financial assets. which indude debtors and cash and bank balances, are initially measured at transaction price inclltding transaction costs and are subsequenuy carried al amortised cost using the effective interest method unles5 the arrangement constiiules a financing transaction. where the Iransaclion is measured al the present value of the future receipts discounted ai a market rate ot inre$l. Finanaal asseis classifiett as receivable wilhin one yeaf are not amortised. Basic financial liabilities Basic finanaal liabilities, induding C[lI0rS and bank loans are initially reciyJnised al transaction price unless the 8rrangemenl constitutes a financing transaction, where the debl instrument is measured al the present value of the future payments discounted al a market rate of inleresl. Financial liabilib'es dassified as payable wthin one year are not amortised. Debt instruments are subsequenuy carrted al amortised c$1, using the effectNie interest rale method. Trade creditors are obligations to pay foT go(xls or semces that have been acquired in the ordinary course of opeTalions from suppliers. Amounts payable are dassified as Cent liabilities if paymenl is due wlhin one year or less. If not, they are presented as non-current liabilities. Trade credilors are recognised inibally at transaction pnce and subsequendy measured at amortised cost usinq Ihe effective interest meihod. Derecognition of financial liabilities Financial liabilities are defecognised whon the charitable group's contractual obligations expire or are dischargeLI ot cancelled. 1.11 Employee benefits The cost of any unused holiday enlillement is recoJnised in Ihe period in which the employee's services are received. Termination benefFts are recognised immediately as an expense when the charity is demonstrably committed lo lerminale the employment of an employee or lo provide lemiinalion benefits. 1.12 Retirement benefits Payments lo defined ntn'bUll0n retirement benefit schemes are tharged as an expense as they fall due. 1.13 Cash at bank and in hand Cash and cash equivalents include cash in hand. deposils held at call Ith banks, other short-term liquid invèstments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown wthin tKJrrowngs in current 1.14 Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds lo a third paty and the amount due to settle the obligation can be measured or eslirnaled reliably. Creditor5 and provisicS are noffnally recogn0 al their setuement amount after allowing for any trade discounts due. Critical accounting estimates and judgements In the application of the charitsble group's accounling policies. the Iruslees ale required to make judgements, eslimales and assumptions about the carrying afflounl of assets and liabilitses that are not readily apparent from other sources. The estimates and associaled assumpts'ons are based on historical experience and olher factors that afe considered lo be relevant. Actu81 results may dtffer from these estimates. The estimates and underfying assumptions are Teviewed on an ongoing basis. Revisions lo accounting estirnales are recognised in the period in which the eslimale is revised where the revision affects only thal period. or in the period of the revision and future penods where the revision affects both current and fure periods. 18
SUNNYSIDE RURAL TRUST LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 3 Donations Unrestricted Funds Restricted Funds 2024 2023 Donations and gifts 107,641 8,530 116,171 57,090 For the year ended 31 March 2023 57,090 57,090 4 Day training and employment Unrestricted Funds Restri¢ted Funds 2024 2023 Training fees and sp)nsorship Client food income Performance related grants 982,217 3.857 2,203 982,217 3,857 795,098 877.807 3,678 524.374 792,895 988,277 792,895 1,781,172 1,405,859 For the year ended 31 March 2023 884,754 521,105 1,405,859 Performance related grants Big Lollery FundlEuropean Soual Fund HSBC HertfOrdshI C(yJnty Council HertfOrdshI Community FOUndatft National Farmer5 Unio Sports England Daconjm Borough Council The Julia and Hans Rausing Trust Other 158,218 204,470 50.000 227,086 18,998 6,379 5,850 459,552 56.283 100,000 14,602 795,098 282.315 524,374 5 Fundraising activities Unrestricted Funds Restricted Funds 2024 2023 Fundraising even15 1.675 1.675 63 For the year ended 31 TrAarch 2023 63 63 6 Trading activities Unrestricted Funds Restricted Funds 2024 2023 Surpluslldeficil) from trading acbvities Isee note 281 {11.8601 111.8601 40.370 For the year ended 31 March 2023 40,370 40,370 19
SUNNYSIDE RURAL TRUST LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 7 Investment income Unrestricted Funds Restricted Funds 2024 2023 Inleresl receivable 23,974 23.974 11.190 For the year ended 31 March 2023 11,190 11,190 8 Expenditure Stsff Costs 1£) Premises Costs {£) Other Costs {£) 2024 2023 Expenditure on raising fijnds.. Fundraising acts"vilies Expenditure on chanlable actiwlies.. Day training and employment Total expenditure 6.925 6,925 1,877 1.282,619 36,253 400,606 1,719.478 1,435,693 1,282,619 36.253 407.531 1,726,403 1,437,570 9 Fundraising activities Unrestricted Funds Restricted Funds 2024 2023 Fundraisin adivibes Other fundraising cosls 5,259 1.666 6,925 1,877 For the year ended 31 March 2023 1.518 359 1.877 10 Day training and employment Unrestricted Funds Restricted Funds 2024 2023 Staff costs Deprectalion and impairment Other staff costs Direct project costs Premises costs Insurance costs Sile and maintenance costs OfFice costs Computer costs Transport and travel General expenses Legal and professional costs Bank charges and other finance costs Bad and doubthjl debts Governa11 costs 650,122 30,429 7,399 39,355 33.153 6.643 29,811 15.354 10,154 50.480 5.238 13.513 308 3,854 6,199 632,497 6,505 580 45.582 3,100 1,282,619 36,934 7,979 84,937 36,253 6,643 142,686 18.097 17,193 56.927 5,336 13,513 308 3,854 6.199 1,120,218 39,195 13,101 50,562 31,037 5.386 84,647 13,066 10,534 43,114 6,000 12,604 293 38 5,898 112.875 2.743 7.039 6,447 98 902,012 817,466 1,719.478 1,435,693 For the year ended 31 March 2023 994,316 441,377 1.435,693 20
SUNNYSIDE RURAL TRUST LIMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Day training and employment Iconvdl Governance costs comprise: Unrestricted Funds Restricted Funds 2024 2023 Auditors fees Accountancy fees Trustee meeting expenses 3.000 2,760 439 3,000 2,760 439 2,960 2,680 258 6.199 6,199 5,898 For the year ended 31 March 2023 5,898 5,898 11 Net movement in funds 2024 2023 Nel movement in funds is staled after chargin{CredIts.ng) Depreaation of owned tangible fixed assets 64,781 52,575 12 Audito¢s remuneration The analysis of audilorfs femuneralion is as follows.. 2024 2023 Fees payable to the charitable companWs auditors and associates: Audit of the charitable companys annual accounts 3,000 2,960 13 Trustees None of the Iruslees (or any persons connecte(I with them) reiVed any remunerab'oo or expenses from the charity during the year12023'. nill. 14 Employees Number of employees The average monthly number of employees durtng the year was.. 2024 Number 2023 Number Direct charitable and su'pport staff Office and management staff 60 53 66 59 Employment Gosts 2024 2023 Wages and salaries Social security costs Other pension costs 1.175,649 77.061 29,909 1,282.619 1,031,398 60,641 28,179 1.120,218 The number of employees whose annual remuneration w85 £60,000 or more were." £80,001- £85,000 2024 2023 The employers pension contribubons paid in respect of the highest paid employee during the year were £3,37712023'. £3,377). 21
SUNNYSIDE RURAL TRUST LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 15 Tangible assets Leasehokt Property Plant and Machinery Fixtures, Fittings and Motor Vehicles Computers Total Group and Charity Cost Ai 01 April 2023 Additions 734.674 4.997 158,254 121,127 11,205 132,332 189.363 42,050 231,413 1,203,418 58.252 1,261,670 Al 31 March 2024 739.671 158,254 Depreciation Al 01 April 2023 Charge for the year Al 31 hAarch 2024 339,859 29,643 158,254 111.888 6.555 152.062 28,583 180,645 762,063 64,781 826,844 369,502 158,254 118.443 Net book value At 31 March 2024 370,169 13.889 50.76B 434,826 Al 31 March 2023 394 815 37.301 441.355 Leasehold Property Plant and Mathinery Fixtures, Fitting5 and Motor Vehides Computers Total Charity Cost Al 01 April 2023 Additions 647,727 65.784 74,834 125,545 913.890 At 31 March 2024 647,727 65,784 74,834 125.545 913,890 Depreciation Al 01 April 2023 Charge lor the year Al 31 March 2024 315.936 25,046 65,784 74,195 639 103.045 11,250 114,295 558,960 36,935 595,895 340,982 65.784 74,834 Net book value Al 31 March 2024 306.745 11.250 317,995 Al 31 March 2023 331.791 639 22,500 354,930 16 Fixed Asset Investments The charity holds 1 Sha of £1 each in its wholly owned trading subsidiary company, SRT Trading Limited, which is incorporated in the United Kingdom. These are the only shares allotted. called up and fully paid. The activities and results of this company is summarised in note 28. 22
SUNNYSIDE RURAL TRUST LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 17 Financial instruments Group 2024 Charity 2024 2D23 2023 Carrying amount of financial assets Debt instruments measured al amortised cost 258,967 193,433 237,940 174.272 Carrying amount of financial liabilities Measured al amortised cost 57,164 101,944 26,068 26,606 Financial assets measured al amortised cost comprise trade and other debtors Finanaal liabilities measured al amortised cost comprise trade and other creditors, accruaSs and current nel obligations under finance leases and hire purchase contracts. 18 Stock Group 2024 Charity 2024 2023 2023 Finished goods for resale 43,613 28.525 19 Debtors Group 2024 Charity 2024 2023 2023 Trade debtors Amounts owed by grow undertakings Other debtors Prepayments and accrued income 222,944 164,394 207,083 318,259 30,857 7,369 563,568 145,631 173,632 28.641 6,073 36,023 19,668 278,635 29.039 12,240 205,673 353,977 20 Creditors: amunts falling due within one year Group 2024 Charity 2024 2023 2023 TTade creditors Other laxalion and soual security Other creditors Accruals and deferred income 27.597 24,099 7,631 29,467 88,794 78,919 22,464 7,692 24,016 9.393 23,334 7.197 9,478 10,556 21,972 7,258 8.792 133,091 49,402 48,578 21 Creditors.. Amounts falling due after more than one year Group 2024 Charity 2024 2023 2023 Accruals and deferred income 2,232 4,465
SUNNYSIDE RURAL TRUST LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 22 Restricted Funds At01 April 2023 At 31 March 2024 Income Expenditure Transfers Group and charity SEIF- Northchurch Hemel Food Garden Café Fund Serge Hill Orchard Project Road lo employmenl scheme Dacorum Economic Recovery Fund Good Things Foundation GTant DBC Green Corridor Community Opportunty and Day Activity Inclusive Employment Project Multiply Northchurch Gromng Project Other funds Capital Grant Reserve 31.767 34,532 13,956) 12,511) 146.8541 161,1881 27,811 32,021 61,676 108.530 61.188 12,409 1.198 112,409) 11,198) 145.0001 45,OCII 9,899 11.656 25.616 63.821 43,353 21,660 19,8991 {261.2941 1142,7141 1169,299} 162,810) 249.638 139,875 158.218 38.976 22,777 52,740 19,519 19,457 236,001 12.2031 12,2031 255.911 801,425 1819.1321 At 01 April 2022 At 31 March 2023 Income Expenditure Transfers Group and charity SEIF_ Northchurch Hemel Food Garden Café Fund A Community Hub for People, Animals and the Environment at Northchurch Building Beller Opportunits'es Tesco projects Dacorum Economic Recovery Good Things Foundation Grant Afghanistan Women Grant Community Opportunity and Day Activity Fresh Leaf Charitable Foundation Grant Northchurch Environmental Inclusive Employment Project Multiply Northchurch GTowing Project Other funds Capital Grant Reserve 35,724 37,044 13,9571 12.5121 31,767 34,532 3,604 13,604) 189,8091 {4891 (15,8911 (11,3461 {8.6751 89.809 489 28,300 12,544 8.675 12,409 1,198 10.272 10.991 {11,3641 9,899 92 4,999 1931 14,999) (133,7651 143,5841 139.3621 168,7861 145.421 69.200 103.183 102.501 11,656 25,616 63,821 43.353 21,660 8.927 24,415 175,085 711 12.7551 12,0431 521,105 1438.2361 255,911 24
SUNNYSIDE RURAL TRUST LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Restricted Funds l¢ont'd} At 01 April 2023 At 31 March 2024 Income Expenditure Transfers Charity SEIF - Northchurch Hemel FiJ)d Garden Café Fund Serge Hill Oichard Project Road lo employment scheme Daconjm Economi¢ Recovery Fund Good Things Foundation Grant DBC Green Corridor Cornmunity Opportunity and Day Activity Inclusiv& Employment Project Multiply Northchurch Growing Project Other funds 31,767 34,532 13,9561 12,5111 (40,8541 {61,1881 27,811 32,021 61,676 108.530 61.188 12,409 1.198 {12,4091 11,1981 145,0001 45.000 9,899 11,656 25,616 63,821 43,353 234.251 {9,899) (261,2941 1142.714) 1169,299) 162.810} 1819,132} 249.638 139.875 158,218 38,976 22.777 52,740 19.519 801,425 216,544 At 01 April 2022 At 31 March 2023 Incomè Expenditurè Transfers Charity SEIF . Northchurch Hemel Foad Garden Café Fund A Community Hub for peOe, Animals and the Enwronmenl al Northchurch Building Better Opportunibes Tesco projects Dacorum Erxsnomic Recovery Fund Good Things Foundation Grant Afghanistan Wotnen Grant Community Opportunity and Day Activity Fresh Leaf Charitsble Foundab'on Grant ADS Grant Northchurch Environmental Inclusive Employment Projecl Multiply Northchurch Glowing Project Other funds 35,724 37,044 13,9571 12,5121 31,767 34.532 13,604} 189.809} 1489) 89.809 489 28,300 12,544 8.675 115,891} 111,3461 18,6751 12,409 1,198 10.272 10,991 (11,3641 9.899 92 3.500 4.999 1931 13.500} 14,9991 1133.7651 143.5841 139,3621 168.7861 (441,7361 145,421 69,200 103,183 102.501 11,656 25.616 63,821 43,353 8.927 711 154.170 521,105 712 234,251 25
SUNNYSIDE RURAL TRUST LIMITED {A Company Limited by Guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Description of Restri¢ted Funds: SEIF is a project funded by the Social Enterprise Investment Fund lo develop a three acre piece of land adjoining the existing Northchurch sile. This frjnd is represented by capitalised assets and will be expended by depfeciab.on over the coming years. Hemel Food Garden Café Fund is funding from Dacorum Borough Counal and Hertfofdshire county Council Innovation Fund towards the construction and equipping of the café al the Hemel Fcx)d Garden site. A Community Hub for People, Animals and the Envlronment at Northchurch reprebgiiib. ilie Grealion of a community hub al our NorthchuTch sile. The project was part funded by Chillems Local Action Group, Bally Thomas, Sobell Foundation, Paradigm Foundation, Hertfordshire Communtty Foundation, John Apth? Charity, Sl James Place, W F Soulhall, Shanly Foundation and Tesco. On completion of the project all funds had been spent and the balance on the ftJnd5 that were used lo create Ihe tsngible fixed assets have been tiansferred lo general funds. The full capital cost ol the new as5el has then been transferred lo a desiqnaled fund by the Iruslees. Building Better Opportunities is funding from Big Loltery FurMI arml Ihe Eufopean Swal Fund to improve employment opportunities for long-lerm unemployed and hard lo reach groups. Serge Hill Orchard Project is a land based service offering education, therapeutic horficulture, a sustainable social enterprise and a community hub.11 is sited on the land owned by Tom & Sue Sluart-smilh and will pull together the best local charities and horticultural resources. The project has Ihe SUPFQrt of fvnding from Julia & Hans Rausing Foundakn'on and The Mercers Company. Tesco projects is funding from Tesco regarding Ihe animal proiecl al Northchurch. garden equipment al the Activities Centre and the outside cafe aTea al Hemel Food Garden. Road to employment Scheme is supported employmenl for people wilh teaming disabilities with funding froffl Hertfordshire County Cot3ncil. Dacorum Economic Recovery Fund is lo support our BBO and IEP Projects and promote a disability confident scheme in Dacorum. Good Things Foundation Grant is to sUprt our IT structure and systems. Green Corridor project is funding from the Dacorum Shared Prospenty Fund for the creats.on of and improvements lo local green spaces. community gardens, watemuTses and embankments, along wilh incorpofab.ng natural features into wider public spaces. Afghanistsn Women Grant is a c(x)king and singing group for women living in Walemiill, Hemel Hempstead. Community Opportunity and Day Adivity is a grant for running thernpeutic activities for older people and people with disabilities. Fresh Leaf Charilable Foundation grafrt is for the new kitchen al Northchur¢h. the fami shop refil and equipment. ADS Grant is a lop up grant for activities for trainees, based at Northchurch. Northchurch Environmental is a grant to refil Ihe slalic caravan al Northchurch and planl a wildflower meadow. Inclusive Employment Project is in partnership with Herttordshire County Council and SPS Training. The aim is lo help clients "give you Ihe help you need to find a job. appty for il and support you in your new job. Multiply is a project run in conjunction wsth Hertfordshire County Council Step 2 Skills to run workshops and courses lo bring a weallh of opportunities lo beal number anxiety, remove confusion around sums. Northchurch Growing Project is fvnded by the Big Lottery. Other funds are small grants and funds. 26
SUNNYSIDE RURAL TRUST LIMITED {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 23 Designated Funds At 01 April 2023 At 31 March 2024 Income Expenditure Transfers Group and charity Running Costs ReserNe Community Hub al Norththurch Development Fund 600,000 236,670 250,0 600,000 219,065 250,000 117.6051 1,086,670 117,6051 1,069.065 At 01 April 2022 At 31 March 2023 Income Expenditure Transfers Group and charity Running Costs Reserve Community Hub at Nor,hchurch Development Fund 600.( 250.799 250.000 600.000 236,670 250,000 1,086,670 {14,1291 1.100,799 114,1291
SUNNYSIDE RURAL TRUST LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Description of Designated Funds: Running Costs Reserve is lo provide for funding lo cover runnirwJ costs in the event of a downtum in income. Community Hub at Northchurch represents Ihe creation of a community hub for people, animals and the environment al our Northchurch sile. The project was part funded by Chillems Lo1 Action Group, Bally Thomas, Sobell Foundation, Paradigrn Foundation, Herttordshire Community Foundalion, John Aplhorp Charity, St JaeS Place, W F Soulhall, Shanly Foundalion and Tesco. On completion of the hub a designated fund has been created fof the capital costs of the new hub and will be used to fund the annual depreaalion of the asset. Development Fund is to invest in agricultural land lo further our horticultural therapy work. 24 Analysis of net assets between funds Unrestricted Fund5 Restricted Funds 2024 Group and charity Fund balances al 31 March 2024 are represented by= Tangible assets Current a5setsllliabililies) Creditors.. Amounts falling due after more than one year 355.537 1,138,833 12,2321 1,492,138 79,289 156,712 434.826 1,295,545 12,2321 1,728,139 236,001 uns1r1cIed Funds Restrlcted Funds 2023 Group and charity Fund balances al 31 March 2023 are represented by= Tangible assets Current asselsllliabilitsesl Creditors= Amounts falling due after more Ihan one year 353,295 938.669 14,4651 1.287,499 88,060 167.851 441,3S5 1,106,520 14.4651 1,543,410 255,911 Unrestricted Funds Restricted Funds 2024 Charity Fund balances al 31 March 2024 are repSented by= Tangible assets Fixed Asset Investments Current assetsllliabilib'esl 258,163 59,832 317,995 1.269,990 118,870 178.702 1,388,860 1,528,154 1,706,856 Unrestricted Funds Restricted Funds 2023 Charity Fun($ balances al 31 March 2023 are represenled by.. Tangible assets Fixed Asset Investments Current asselsllliabilitiesl 288.496 66,434 354,930 944,737 167,817 234,251 1,112,554 1.467,485 1,233,234 28
SUNNYSIDE RURAL TRUST LIMITED {A Company Limited by Guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 25 Retirement benefit schemes Defined contribution schemes The consolidated group operates a defined contribution pension Sche for all q4Jalityng employees. The assets of the scheme are held separatety from those of the charrtable company in an independently administered ftjnd. The charge lo profit or loss in respect of defined contnbution sthemès was £29.909 {2023.' £28,1791. 26 Related party transactions Remuneration of key management personnel The remunerat of key managernenl personnel is as follows.. 2024 2023 Aggregate compensation 345,333 351,026 Key managemeftl personnel indudes the senior managernenl leam and trustees. TnJsl8es are nol remunerated for their role in the charitable company. Owing lo the nature of the charity's operations and the composib.on of the board of truslees being drawn form interested and affiliate parties, transactions may tske plac£ with organisations in which the charity ha5 an interest. Al Iransacts'ons involving Such organisations are conducted al ami'5 length and in accur1jaii wiul Llid¥ily's fiiidllLldl re9ulalion5 and norrnal procurement proCedUs. During the period. Ms F Siddiqui Charfick was paid CaO,75012023 £19,108) in respect of the employment by Sunnyside Rural Trust Limited. Ms F Siddiqui Charfick is the partner of Ms K Siddiqui Charfick, the Chief ExecutNe of the Charity. There were no further disdosable related paty transactions during the year12023- none). 27 Operating lease commitinents Lessee Al the reFX)rting end date the charitable group had oulstanding commitments foT fure minimum lease payments under non- cancellable operating leases, whtch fall due as kllows.. Group and charty Land and buildings 2024 Other 2024 2023 2Q23 Expiry date.. In over five year5 1,800 1,800 1,800 1,800 29
SUNNYSIDE RURAL TRUST LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 28 Subsidiaries The wholly owned subsidiary. SRT Trading Limited, is incorporated in the United Kingdom {company number 077715431 and pays all of ils taxable surpluses to the parent charitable company as a donab'on. The summary financial performan of Ihe subsidiary alone is- 2024 2023 Turnover Cost of sales 437,227 160,148 277,079 292,968 2,200 1,829 (11,8601 331.064 117.493 Gross profit Administrative expenses Other operating income Inleresl receivable and sirnilar income 213,571 177,254 3,855 198 Profit on ordinary activities before tsxation Tax on profit {LossllProfit on ordinary activities after tsxation 40,370 111,8601 40,370 Distributions to parent chanty under gfft aid 42.782 58,045 The assets and liabilities of the subsidiary were.. 2024 2023 Tangible fixed assets Current assets Current liabilities Long term liabililies Total nel assets 116,831 259,170 1352,4851 12,2321 21,284 86,427 251,712 1257,7471 14,4651 75.927 Called up share capital Reserves brought forward ILossllProfil on ordinary activib'es after laxalion Dislributsons lo parent charity under grft abd Reserves carried foTward 75,926 111,8611 142,7821 21,284 93,601 40,370 158,0451 75,927 30
SUNNYSIDE RURAL TRUST LIMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 29 Cash generated from operations Group and charity SurplusllDeficill for the year Adjuslmenls for.. Investment income recognised in slalemenl of financial acbvities (Gainllloss on (JisrM)sal of tangible fixed assets Depciall0n and impaimienl of tangible fixed assets Movements in woiking capital.. Decreasellincreasel in stock Decreasellincreasel in deblofs (Decreasellincrease in creditors IDecreasellincfease in ID-tem7 credttors Cash (absorbed byvgenerated from operations 2024 2023 184.724 77,008 123,9741 111,1901 16,0461 52,575 64,781 115,0881 172,9621 144.3001 12,2331 90,948 4,674 131,3361 26,702 4,465 116,852 2024 2023 Charity SurplusllDcficill for the year Adjuslmenls for.. Investment income recognised In statement offinancial actmb'es Depreaalion and impainnenl of tangible fixed assets Movements in working rpital.. Decreasellin¢reasel in debtors IDecreasellincrease in creditors Cash (absorbed byllgenerated from operations 239.306 94,683 {23.9741 36,935 111,1901 39,194 {209.591} 824 1142,1941 16,219 {3,2881 43,560 31