``` 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 ``` |||**`Page`**|| |---|---|---|---| |**`Report of the Trustees`**|`1`|`to`|`4`| |**`Statement of Trustees' Responsibilities`**||`5`|| |**`Independent Examiner's Report`**||`6`|| |**`Statement of Financial Activities`**||`7`|| |**`Statement of Financial Position`**||`8`|| |**`Notes to the Financial Statements`**|`9`|`to`|`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- ```