REGISTERED COMPANY NUMBER: 02577067 (England and Wales)
REGISTERED CHARITY NUMBER: 1008028
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
FOR
DEEN CITY FARM LIMITED
(A COMPANY LIMITED BY GUARANTEE)
Hartley Fowler LLP
Chartered Accountants
4th Floor Tuition House
27-37 St George's Road
Wimbledon
London
SW19 4EU
DEEN CITY FARM LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
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Report of the Trustees |
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to |
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Statement of Trustees' Responsibilities |
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5 |
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Independent Examiner's Report |
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6 |
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Statement of Financial Activities |
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7 |
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Statement of Financial Position |
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8 |
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Notes to the Financial Statements |
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16 |
DEEN CITY FARM LIMITED (REGISTERED NUMBER: 02577067)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2022
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheirreport with
thefinancialstatementsofthecharityfortheyearended31March2022.Thetrusteeshaveadoptedtheprovisions of
AccountingandReportingbyCharities:StatementofRecommendedPracticeapplicabletocharitiespreparing their
accountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS 102)
(effective 1 January 2019).
OBJECTIVES AND ACTIVITIES Aims
The charity's objectives, as set out in the governing document are:
To advance education and provide facilities for leisure and recreation to improve quality of life for local
-
people, particularly young people
-
The promotion and advancement of agriculture, horticulture and home crafts through education of local
-
To educate local people in the care and consideration for all animals by exhibiting, and caring for, the
-
livestock and domestic animals.
-
The education and training of local people in the need to prepare them to earn their own livelihood.
-
To relieve local people with a physical and mental disability by providing facilities for them to ride horses and
-
- ponies.
Objectives and activities
TheFarmoffersitsfacilitiesfree-of-chargetovisitors,principallyfromMertonbutalsofromfurtherafield. The
organisation'sobjectivesarerealisedthrougharangeofservices:theoperationofanactiveeducational programme
offeredbyadedicatedmemberofstaff,withaprogrammeoftoursandworkshopsheldattheFarmand outreach
projectsdeliveredinthecommunity;volunteeringandworkexperienceprogrammesthatencourageyoungpeople to
becomeinvolvedinanimalcareandhorticulture;theoperationofaridingschoolthatofferslessonstonovice and
experiencedridersofallagesandabilities.TheFarmalsooffersaprogrammeofcommunityeventsthroughoutthe year,
run by the Visitor Services department.
In planning these activities, the members of the Board of Trustees have given due consideration to the Charity
Commission'spublishedguidanceonthePublicBenefitrequirementundertheCharitiesAct2011.TheBoard considers
that the charity's activities contribute to the public benefit in several areas:
-
The advancement of education.
-
The advancement of citizenship and community development
-
The advancement of heritage and science.
-
The relief of those in need, by reason of youth, age, ill-health, disability, financial hardship or other disadvantages, and
-
The advancement of animal welfare.
-1-
DEEN CITY FARM LIMITED (REGISTERED NUMBER: 02577067)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2022
OBJECTIVES AND ACTIVITIES
Achievements and performance
The charity's objectives continue to be fulfilled through our activities, described below:
Education
TheFarmisauniqueeducationalresourceforeventhemostcasualvisitor.Theinterpretationalinformationaround the
Farmisrenewedandexpandedregularlytoappealtovisitorsofallages.Inaddition,theFarmrunsarangeof popular
educationalactivitiestargetedatspecificgroups.Nurserygroupsandschoolchildrenvisitthefarmandenjoy guided
tours,oftencombinedwithworkshopactivities.IntheyearunderreviewtheFarmhostedover1,800children from
schoolsalloverMertonanditsneighbouringboroughs.OurLivestockdepartmentandRidingSchooloffered work
experiencetoover125studentsonanimalcareandequestriancourses,throughshort-termplacements running
throughout the year.
Volunteering
TherangeofvolunteeringopportunitiesisoneoftheFarm'smostimportantcontributionstothecommunity.The popular
JuniorVolunteeringweekendschemebringstogetheryoungpeople(ages12-17)fromarangeofbackgrounds and
promoteshealthy,social,outdooractivity.Over230youngpeoplehaveattendedovertheyear.Weekdayvolunteering is
well-attended, with adult volunteers working in all areas of the Farm. Over 30 volunteers attend most weeks.
Farm, Café and Shop
TheFarmisauniqueresourcewithintheborough,offeringresidentsthechancetoglimpserurallife,togetcloseto a
rangeofanimalsthatincludesallthetypesoflivestockfoundonBritishfarms.ThefinancialyearsawtheFarmreturn to
'businessasusual'aftertheendingofallrestrictionsassociatedwiththeCovid19pandemic.Keyprojectsundertaken by
staffandtrusteesduringtheperiodincludedtheopeningofanewoutsourcedcaféoperation,anewFarmshopand the
refurbishmentofitsplayground,'Oscars'.Duringtheyear,theFarmalsobeganareinvestmentprograminits livestock
aftertheenforceddepartureofmanypreviousanimalsduetotheCovid-enforcedclosure.Amongsttheanimalsare new
cattle, goats and sheep.
Riding School
TheRidingSchooloffers154lessonsperweek,correspondingtoover8,000opportunitiestorideeachyear.Ridersof all
abilitiescanlearn,returnanddevelopinasafeandfriendlyequestrianenvironment.Eveningandweekendclassesrun in
allweathers.Theinvestmentin'Robohorse',amechanicalhorsetrainingfacility,allowstheFarmtoofferthe opportunity
to local people interested in taking up equestrianism.
FINANCIAL REVIEW
Going concern
TheTrusteesconsiderthatthecharityhassufficientresourcestocontinueinoperationalexistenceforthe foreseeable
future. They therefore continue to adopt the going concern basis while preparing the financial statements.
Financial Risk Management objectives and policies
Thenatureofthecharity'sactivitiesdonotgiverisetomeaningfulforeignexchange,interestrate,creditor liquidity
risks.Incomeisgenerallycollectedaheadofactivitiesbeingdelivered,orisreceivedfromdonationsandgrants. Internal
financialproceduresarereviewedregularlyandpaymentsrequiredualauthorityfrommanagers,andtheFarm's funds
are held in accounts with a major high street bank.
Principal funding sources
Principal funding comes from earned income generated on the Farm, supplemented by grants, donations and occasional
legacies. The most significant grant remains that received from Merton Borough Council.
Review of the period
Detailsoftheincomeandexpenditureintheyearandthefundbalancesattheyearendaresetoutinthestatement of
financial activities.
Reserves policy
Thecharityhaslongheldthepolicythatreservesshouldbebuiltuptocovercoreexpensesshouldincomebeaffected by
adverse events. This remains a challenge, and the Board and staff continue to be aware of the need to build up reserves.
-2-
DEEN CITY FARM LIMITED (REGISTERED NUMBER: 02577067)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2022
FINANCIAL REVIEW
COVID 19
Duringtheyear,thefinalremainingCovid19restrictionswereremoved,allowingtheFarmtoreturntobusiness as
usual.
PLANS FOR FUTURE PERIODS
WhiletheFarmcontinuestoreceivegeneroussupportfromMertonBoroughCouncil,thetrusteeshaveacknowledged for
manyyearsthatthiscannotbereliedontocontinueindefinitely.InMarch2022,thetrusteesagreedwiththeCouncil to
aphasedreductioninthegrantreceivedby10%perannumfor5consecutiveyearsfromthefinancialyear 2023/24
onwards.TheBoard,andstaff,forcusisthereforetocontinuetoimproveourvoluntaryandearnedincome. Increasing
thelattermayrequireinvestmentinnewfacilities,aswearereachingfullcapacityinseveralareas.Negotiations have
alsonowconcludedwithourneighboursandlandowners,theNationalTrust,onsecuringanewlease.Anew20 year
lease will become operational from October 2022.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Thecharityisconstitutedasacompanylimitedbyguaranteeandwasincorporatedon28January1991.The company
wasestablishedunderaMemorandumofAssociationwhichestablishedtheobjectsandpowersofthe charitable
companyandisgovernedunderitsArticlesofAssociation.Intheeventofthecompanybeingwoundup,members are
required to contribute an amount not exceeding £1.
Recruitment and appointment of new trustees
Thedirectorsofthecharitablecompany('thecharity')areitstrusteesforthepurposeofcharitylawandthroughout this
reportarecollectivelyreferredtoastheBoard.TrusteesareelectedtotheBoardbymembersofthecharity. The
chairman of the trustees is elected by the Board of Trustees.
Organisational structure
ThecharitablecompanyisgovernedbyitsTrusteeBoardwhichisresponsibleforsettingthestrategicdirectionof the
organisationandthepolicyofthecharity.TheTrusteescarrytheultimateresponsibilityfortheconductofthe charity
andforensuringthatitsatisfiesitslegalandcontractualobligations.TheTrusteeBoardmeetsatleastquarterly and
thereareadditionalmeetingsofappropriatemembersorgroupsasrequired.Theday-to-dayoperationof the
organisationhasbeendelegatedtotheGeneralManagerandseniormanagementteamInaddition,thereis an
experiencedteamofpaidstaffandasubstantialteamofvolunteerswhoarekeytoprovidingtheservicesoffered.by the
charity.
Risk management
TheTrusteeshaveassessedthemajorriskstowhichthecharityisexposed,inparticularthoserelatedtothe operations
andfinancesofthecharity,andaresatisfiedthatsystemsandproceduresareinplacetomitigateexposureto major
risks.
ThesourcesoftheFarm'sincomecontinuetobroaden,andtheproportionofearnedincomehasrisen.Management are
working to continue to reduce the charity's dependence on statutory funding.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
02577067 (England and Wales)
Registered Charity number
1008028
Registered office
39 Windsor Avenue
Merton Abbey
London
SW19 2RR
-3-
DEEN CITY FARM LIMITED (REGISTERED NUMBER: 02577067)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2022
Trustees
H R L Nelless - Chair
G W S Cheung (appointed 1/12/21)
S J Conkling (appointed 25/1/22)
E Flanagan (appointed 13/9/22)
L J Liell
B Pena-Mendez
A Ryan
K T Turner
A Wood
J Bellamy (resigned 28/10/21)
S Benson (resigned 13/9/22)
J Edwards (resigned 13/9/22)
P J Griffin (resigned 20/4/22)
P J Henson (resigned 28/4/21)
C Hoyle (resigned 13/9/22)
W Pringle (resigned 13/9/22)
N Mehta (resigned 17/5/21)
Company Secretary
K T Turner
Independent Examiner
Hartley Fowler LLP
Chartered Accountants
4th Floor Tuition House
27-37 St George's Road
Wimbledon
London
SW19 4EU
Bankers
CAF Bank Limited
25 Kingshill Avenue
Kingshill
Kent
E17 5AH
Approved by order of the board of trustees on 13 January 2023 and signed on its behalf by:
H R L Nelless - Trustee
-4-
DEEN CITY FARM LIMITED
STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2022
Thetrustees(whoarealsothedirectorsofDeenCityFarmLimitedforthepurposesofcompanylaw)areresponsible for
preparingtheReportoftheTrusteesandthefinancialstatementsinaccordancewithapplicablelawandUnited Kingdom
AccountingStandards(UnitedKingdomGenerallyAcceptedAccountingPractice)includingFinancialReporting Standard
102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"
Companylawrequiresthetrusteestopreparefinancialstatementsforeachfinancialyearwhichgiveatrueandfair view
ofthestateofaffairsofthecharitablecompanyandoftheincomingresourcesandapplicationofresources,including the
incomeandexpenditure,ofthecharitablecompanyforthatperiod.Inpreparingthosefinancialstatements,the trustees
are required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
Thetrusteesareresponsibleforkeepingproperaccountingrecordswhichdisclosewithreasonableaccuracyatany time
thefinancialpositionofthecharitablecompanyandtoenablethemtoensurethatthefinancialstatementscomply with
theCompaniesAct2006.Theyarealsoresponsibleforsafeguardingtheassetsofthecharitablecompanyandhence for
taking reasonable steps for the prevention and detection of fraud and other irregularities.
-5-
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
DEEN CITY FARM LIMITED
Independent examiner's report to the trustees of Deen City Farm Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.
Responsibilities and basis of report
Asthecharity'strusteesoftheCompany(andalsoitsdirectorsforthepurposesofcompanylaw)youareresponsible for
the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
HavingsatisfiedmyselfthattheaccountsoftheCompanyarenotrequiredtobeauditedunderPart16ofthe2006 Act
andareeligibleforindependentexamination,Ireportinrespectofmyexaminationofyourcharity'saccountsas carried
outunderSection145oftheCharitiesAct2011('the2011Act').IncarryingoutmyexaminationIhavefollowed the
Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Sinceyourcharity'sgrossincomeexceeded£250,000yourexaminermustbeamemberofalistedbody.Ican confirm
thatIamqualifiedtoundertaketheexaminationbecauseIamaregisteredmemberofICAEWwhichisoneofthe listed
bodies.
Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnectionwith the
examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhichattention should
be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Jonathan Askew
ICAEW
Hartley Fowler LLP
Chartered Accountants
4th Floor Tuition House
27-37 St George's Road
Wimbledon
London
SW19 4EU
13 January 2023
-6-
DEEN CITY FARM LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2022
Unrestricted
Restricted
fund
funds
Notes
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
98,203
2,388
Charitable activities
Riding school
96,945
-
Visitor services
156,381
-
Livestock and animals
104,879
-
General
3,740
-
Investment income
2
5
-
Total
460,153
2,388
EXPENDITURE ON
Charitable activities
Riding school
151,832
-
Visitor services
62,954
11,284
Livestock and animals
76,909
1,000
General
177,305
7,495
Total
469,000
19,779
NET INCOME/(EXPENDITURE)
(8,847)
(17,391)
RECONCILIATION OF FUNDS
Total funds brought forward
130,330
23,265
TOTAL FUNDS CARRIED FORWARD
121,483
5,874 |
2022
Total
funds
£
100,591
96,945
156,381
104,879
3,740
5
462,541
151,832
74,238
77,909
184,800
488,779
(26,238)
153,595
127,357 |
2021
Total
funds
£
351,969
90,237
47,247
9,156
-
2 |
|
|
498,611 |
|
|
116,470
78,615
99,908
142,113 |
|
|
437,106 |
|
|
61,505
92,090 |
|
|
153,595 |
CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
-7-
DEEN CITY FARM LIMITED (REGISTERED NUMBER: 02577067)
STATEMENT OF FINANCIAL POSITION
31 MARCH 2022
Notes
FIXED ASSETS
Tangible assets
8
CURRENT ASSETS
Stocks
9
Debtors
10
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
11
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS
Amounts falling due after more than one year
12
NET ASSETS
FUNDS
15
Unrestricted funds
Restricted funds
TOTAL FUNDS |
2022
£
41,781
2,500
2,701
141,506
146,707
(27,925)
118,782
160,563
(33,206)
127,357
121,483
5,874
127,357 |
2021
£
54,786
2,500
3,508
153,551
159,559
(17,858)
141,701
196,487
(42,892)
153,595
130,330
23,265
153,595 |
|
|
|
ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct2006forthe year
ended 31 March 2022.
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended
31 March 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitable companies
subject to the small companies regime.
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon13January2023and were
signed on its behalf by:
H R L Nelless - Trustee
The notes form part of these financial statements
-8-
DEEN CITY FARM LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancial Reporting
StandardapplicableintheUKandRepublicofIreland(FRS102)(effective1January2019)',Financial Reporting
Standard102'TheFinancialReportingStandardapplicableintheUKandRepublicofIreland'andthe Companies
Act 2006. The financial statements have been prepared under the historical cost convention.
a) Preparation of the accounts on a going concern basis
Aftermakingappropriateenquiries,thetrusteeshaveareasonableexpectationthatthecharityhas adequate
resourcestocontinueinoperationalexistencefortheforeseeablefuture.Forthisreasontheycontinueto adopt
the going concern basis in preparing the financial statements.
Income
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementtothefunds,it is
probable that the income will be received and the amount can be measured reliably.
Forlegacies,entitlementistakenastheearlierofthedateonwhicheither:thecharityisawarethatprobate has
beengranted,theestatehasbeenfinalisedandnotificationhasbeenmadebytheexecutor(s)totheTrustthat a
distributionwillbemade,orwhenadistributionisreceivedfromtheestate.Receiptofalegacy,inwholeor in
part,isonlyconsideredprobablewhentheamountcanbemeasuredreliablyandthecharityhasbeennotified of
theexecutor'sintentiontomakeadistribution.Wherelegacieshavebeennotifiedtothecharity,orthecharity is
awareofthegrantingofprobate,andthecriteriaforincomerecognitionhavenotbeenmet,thenthelegacy is
treated as a contingent asset and disclosed if material.
Giftsinkinddonatedfordistributionareincludedatvaluationandrecognisedasincomewhenthey are
distributedtotheprojects.Giftsdonatedforresaleareincludedasincomewhentheyaresold.Donated facilities
areincludedatthevaluetothecharitywherethiscanquantifiedandathirdpartyisbearingthecost. No
amounts are included in the financial statements for services donated by volunteers.
Donatedservicesorfacilitiesarerecognisedwhenthecharityhascontrolovertheitem,anyconditions associated
withthedonateditemhavebeenmet,thereceiptofeconomicbenefitfromtheuseofthecharityoftheitem is
probableandthateconomicbenefitcanbemeasuredreliably.InaccordancewiththeCharitiesSORP(FRS 102),
thegeneralvolunteertimeoftheFriendsisnotrecognisedandrefertothetrustees'reportformore information
about their contribution.
Onreceipt,donatedprofessionalservicesanddonatedfacilitiesarerecognisedonthebasisofthevalueof the
gifttothecharitywhichistheamountthecharitywouldhavebeenwillingtopaytoobtainservicesorfacilities of
equivalenteconomicbenefitontheopenmarket;acorrespondingamountisthenrecognisedinexpenditure in
the period of receipt.
IncometaxrecoverableinrelationtodonationsreceivedunderGiftAidordeedsofcovenantisrecognisedat the
time of the donation.
Otherincomeisrecognisedintheperiodinwhichitisreceivableandtotheextentthegoodshavebeen provided
or on completion of the service.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlement and
theamountoftheobligationcanbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasisand has
beenclassifiedunderheadingsthataggregateallcostrelatedtothecategory.Wherecostscannotbe directly
attributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwiththeuse of
resources.
Tangible fixed assets
Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetoveritsestimated useful
life.
-9-
DEEN CITY FARM LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022
1. ACCOUNTING POLICIES - continued
Tangible fixed assets
Improvements to property- 15% on reducing balance
Plant and machinery- 10% on cost
Fixtures and fittings- 15% on reducing balance
All assets costing more than £1,500 are capitalised.
Stocks
Stocksarevaluedatthelowerofcostandnetrealisablevalue,aftermakingdueallowanceforobsoleteand slow
moving items.
Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Generalfundsareunrestrictedfundswhichareavailableforuseatthediscretionofthetrusteesinfurtherance of
the general objectives of the charity and which have not been designated for other purposes.
Restrictedfundsarefundswhicharetobeusedinaccordancewithspecificrestrictionsimposedbydonors or
whichhavebeenraisedbythecharityforparticularpurposes.Thecostsofraisingandadministeringsuch funds
arechargedagainstthespecificfund.Theaimanduseofeachrestrictedfundissetoutinthenotesto the
financial statements.
Pension costs and other post-retirement benefits
Thecharitablecompanyoperatesadefinedcontributionpensionscheme.Contributionspayabletothe charitable
company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Basic financial instruments
Thecharityonlyhasfinancialassetsandfinancialliabilitiesofakindthatqualifyasbasicfinancial instruments.
Basicfinancialinstrumentsareinitiallyrecognisedattransactionvalueandsubsequentlymeasuredat their
settlementvaluewiththeexceptionofbankloanswhicharesubsequentlymeasuredatamortisedcostusing the
effective interest method.
Debtors
Tradeandotherdebtorsarerecognisedatthesettlementamountafteranytradediscountoffered. Prepayment
are valued at the amount repaid net of any trade discounts due.
Cash at bank and in hand
Cashatbankandinhandincludescashandshorttermhighlyliquidinvestmentswithashortmaturityof three
months or less from the date of acquisition or opening of the deposit or similar account.
Creditors and provisions
Creditorsandprovisionsarerecognisedwherethecharityhasapresentobligationresultingfromapast event
thatwillprobablyresultinthetransferoffundstoathirdpartyandtheamountduetosettletheobligation can
bemeasuredorestimatedreliably.Creditorsandprovisionsarenormallyrecognisedattheirsettlement amount
after allowing for any trade discounts due.
-10-
DEEN CITY FARM LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022
2. INVESTMENT INCOME
INVESTMENT INCOME |
|
|
|
2022 |
2021 |
|
£ |
£ |
Deposit account interest |
5 |
2 |
NET INCOME/(EXPENDITURE) |
|
|
Net income/(expenditure) is stated after charging/(crediting): |
|
|
|
2022 |
2021 |
|
£ |
£ |
Depreciation - owned assets |
13,005 |
1,220 |
3. NET INCOME/(EXPENDITURE)
4. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2022norfortheyear ended
31 March 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
5. STAFF COSTS
The average monthly number of employees during the year was as follows:
6.
Staff
No employees received emoluments in excess of £60,000.
INDEPENDENT EXAMINER'S REMUNERATION |
2022
17 |
2022
17 |
2021
13 |
2021
13 |
|
|
|
|
|
|
|
2022 |
|
2021 |
|
|
£ |
|
£ |
Independent examination |
|
1,350 |
|
1,350 |
Accountancy |
|
3,290 |
|
3,200 |
|
|
|
|
|
|
|
4,640 |
|
4,550 |
|
|
|
|
|
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
Restricted
fund
funds
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
302,753
49,216
Charitable activities
Riding school
90,237
-
Visitor services
47,247
-
Livestock and animals
9,156
-
Investment income
2
-
Total
449,395
49,216 |
Total
funds
£
351,969
90,237
47,247
9,156
2
498,611 |
|
|
-11-
DEEN CITY FARM LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
7. |
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
|
|
|
|
|
Unrestricted |
Restricted |
|
Total |
|
|
|
fund |
funds |
|
funds |
|
|
|
£ |
£ |
|
£ |
|
EXPENDITURE ON |
|
|
|
|
|
|
Charitable activities |
|
|
|
|
|
|
Riding school |
|
103,870 |
12,600 |
|
116,470 |
|
Visitor services |
|
78,615 |
|
- |
78,615 |
|
Livestock and animals |
|
99,908 |
|
- |
99,908 |
|
General |
|
128,762 |
13,351 |
|
142,113 |
|
Total |
|
411,155 |
25,951 |
|
437,106 |
|
NET INCOME |
|
38,240 |
23,265 |
|
61,505 |
|
RECONCILIATION OF FUNDS |
|
|
|
|
|
|
Total funds brought forward |
|
92,090 |
|
- |
92,090 |
|
TOTAL FUNDS CARRIED FORWARD |
|
130,330 |
23,265 |
|
153,595 |
8. |
TANGIBLE FIXED ASSETS |
|
|
|
|
|
|
|
Improvements |
|
Fixtures |
|
|
|
|
to |
Plant and |
and |
|
|
|
|
property |
machinery |
fittings |
|
Totals |
|
|
£ |
£ |
£ |
|
£ |
|
COST |
|
|
|
|
|
|
At 1 April 2021 and 31 March 2022 |
14,284 |
78,363 |
57,753 |
|
150,400 |
|
DEPRECIATION |
|
|
|
|
|
|
At 1 April 2021 |
10,671 |
30,490 |
54,453 |
|
95,614 |
|
Charge for year |
542 |
11,968 |
495 |
|
13,005 |
|
At 31 March 2022 |
11,213 |
42,458 |
54,948 |
|
108,619 |
|
NET BOOK VALUE |
|
|
|
|
|
|
At 31 March 2022 |
3,071 |
35,905 |
2,805 |
|
41,781 |
|
At 31 March 2021 |
3,613 |
47,873 |
3,300 |
|
54,786 |
9. |
STOCKS |
|
|
|
|
|
|
|
|
|
2022 |
|
2021 |
|
|
|
|
£ |
|
£ |
|
Animal supplies, shop and cafe |
|
|
2,500 |
|
2,500 |
-12-
DEEN CITY FARM LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
10.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
VAT
11.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 13)
VAT
Other creditors
Accrued expenses
12.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Bank loans (see note 13)
13.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank loans
Amounts falling between one and two years:
Bank loans - 1-2 years
Amounts falling due between two and five years:
Bank loans - 2-5 years
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal |
|
|
|
-13-
DEEN CITY FARM LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
14. ANALYSIS OF NET ASSETS BETWEEN FUNDS
ANALYSIS OF NET ASSETS BETWEEN |
FUNDS |
|
|
|
|
|
|
2022 |
2021 |
|
Unrestricted |
Restricted |
Total |
Total |
|
fund |
funds |
funds |
funds |
|
£ |
£ |
£ |
£ |
Fixed assets |
41,781 |
- |
41,781 |
54,786 |
Current assets |
140,833 |
5,874 |
146,707 |
159,559 |
Current liabilities |
(27,925) |
- |
(27,925) |
(17,858) |
Long term liabilities |
(33,206) |
- |
(33,206) |
(42,892) |
|
121,483 |
5,874 |
127,357 |
153,595 |
MOVEMENT IN FUNDS |
|
|
|
|
|
|
|
Net |
|
|
|
|
movement |
At |
|
|
At 1/4/21 |
in funds |
31/3/22 |
|
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
|
General fund |
|
130,330 |
(8,847) |
121,483 |
Restricted funds |
|
|
|
|
General |
|
23,265 |
(17,418) |
5,847 |
Visitor services |
|
- |
27 |
27 |
|
|
23,265 |
(17,391) |
5,874 |
TOTAL FUNDS |
|
153,595 |
(26,238) |
127,357 |
Net movement in funds, included in the above are as follows: |
|
|
|
|
|
|
Incoming |
Resources |
Movement |
|
|
resources |
expended |
in funds |
|
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
|
General fund |
|
460,153 |
(469,000) |
(8,847) |
Restricted funds |
|
|
|
|
General |
|
(15,216) |
(2,202) |
(17,418) |
Livestock |
|
500 |
(500) |
- |
Riding school |
|
500 |
(500) |
- |
Visitor services |
|
16,604 |
(16,577) |
27 |
|
|
2,388 |
(19,779) |
(17,391) |
TOTAL FUNDS |
|
462,541 |
(488,779) |
(26,238) |
15. MOVEMENT IN FUNDS
-14-
DEEN CITY FARM LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
15. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
|
|
|
Net |
|
|
|
|
movement |
At |
|
At 1/4/20 |
|
in funds |
31/3/21 |
|
£ |
|
£ |
£ |
Unrestricted funds |
|
|
|
|
General fund |
92,090 |
|
38,240 |
130,330 |
Restricted funds |
|
|
|
|
General |
|
- |
23,265 |
23,265 |
TOTAL FUNDS |
92,090 |
|
61,505 |
153,595 |
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
General
Sport England Grant
TOTAL FUNDS |
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
449,395
(411,155)
38,240
39,216
(15,951)
23,265
10,000
(10,000)
-
49,216
(25,951)
23,265
498,611
(437,106)
61,505 |
|
|
Therestrictedfundsrepresentamountsthathavebeendonatedorgrantedtothefarmonthebasisthatthey are
usedinaspecificmanner.Theexceptiontothisisthegeneralfundwherecostshavebeenfundedby grant
givingbodiestomeetthegeneralrunningoverheadsofthefarm.Thesegrantsinparticularare particularly
appreciated due to the flexibility they give us in managing the farm's activities.
16. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2022.
17. ULTIMATE CONTROLLING PARTY
The trustees are the immediate and ultimate controlling party.
Eachofthetrusteessignsupasa"FriendoftheFarm"andsomakesadonationthatvariesbetween£5a month
and£15perannum.Duringtheperiod,thecharityalsoreceiveda£500donationfromatrustee.No other
significant donations from trustees have been noted.
-15-
DEEN CITY FARM LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022
18. COMPANY LIMITED BY GUARANTEE
Thecharityisacompanylimitedbyguarantee.Themembersofthecompanyarethetrusteesnamedonpage 1.
Intheeventofthecharitybeingwoundup,theliabilityinrespectoftheguaranteeislimitedto£1permember of
the charity.
-16-