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2024-03-31-accounts

REGISTERED COMPANY NUMBER: 02577067 (England and Wales) REGISTERED CHARITY NUMBER: 1008028

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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 2024

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Page
Report of the Trustees 1 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Statement of Financial Position 7
Statement of Cash Flows 8
Notes to the Statement of Cash Flows 9
Notes to the Financial Statements 10 to 19
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DEEN CITY FARM LIMITED (REGISTERED NUMBER: 02577067)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (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

Objectives and activities

The Farm offers its facilities free-of-charge to visitors, principally from Merton but also from further afield. The organisation's objectives are realised through a range of services: the operation of an active educational programme offered by a dedicated member of staff, with a programme of tours and workshops held at the Farm and outreach projects delivered in the community; volunteering and work experience programmes that encourage young people to become involved in animal care and horticulture; the operation of a riding school that offers lessons to novice and experienced riders of all ages and abilities. The Farm also offers a programme of community events throughout the 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's published guidance on the Public Benefit requirement under the Charities Act 2011. The Board considers that the charity's activities contribute to the public benefit in several areas:

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DEEN CITY FARM LIMITED (REGISTERED NUMBER: 02577067)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

OBJECTIVES AND ACTIVITIES

Achievements and performance

The charity's objectives continue to be fulfilled through our activities, described below:

Education

The Farm is a unique educational resource for even the most casual visitor. The interpretational information around the Farm is renewed and expanded regularly to appeal to visitors of all ages. In addition, the Farm runs a range of popular educational activities targeted at specific groups. Nursery groups and schoolchildren visit the farm and enjoy guided tours, often combined with workshop activities. In the year under review the Farm hosted over 2,500 children from schools all over Merton and its neighbouring boroughs. Our Livestock department and Riding School offered work experience to over 150 students on animal care and equestrian courses, through short-term placements running throughout the year.

Volunteering

The range of volunteering opportunities is one of the Farm's most important contributions to the community. The popular Junior Volunteering weekend scheme brings together young people (ages 12-17) from a range of backgrounds and promotes healthy, social, outdoor activity. Over 130 young people have attended over the year. Weekday volunteering is well-attended, with adult volunteers working in all areas of the Farm. Over 30 volunteers attend most weeks.

Farm, Café and Shop

The Farm is a unique resource within the borough, offering residents the chance to glimpse rural life, to get close to a range of animals that includes all the types of livestock found on British farms. The financial year saw the Farm continue with 'business as usual' with over 130,000 visitors throughout the year.

Key projects undertaken by staff and trustees during the period included:

Riding School

The Riding School taught over 3,000 lessons with 402 individual riders across the year. Riders of all abilities can learn, return and develop in a safe and friendly equestrian environment. Evening and weekend classes run in all weathers.

FINANCIAL REVIEW

Going concern

The Trustees consider that the charity has sufficient resources to continue in operational existence for the foreseeable future. They therefore continue to adopt the going concern basis while preparing the financial statements.

Financial Risk Management objectives and policies

The nature of the charity's activities do not give rise to meaningful foreign exchange, interest rate, credit or liquidity risks. Income is generally collected ahead of activities being delivered, or is received from donations and grants. Internal financial procedures are reviewed regularly and payments require dual authority from managers, and the Farm'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

Details of the income and expenditure in the year and the fund balances at the year end are set out in the statement of financial activities.

Reserves policy

The charity has long held the policy that reserves should be built up to cover core expenses should income be affected by adverse events. This remains a challenge, and the Board and staff continue to be aware of the need to build up reserves.

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DEEN CITY FARM LIMITED (REGISTERED NUMBER: 02577067)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

PLANS FOR FUTURE PERIODS

While the Farm continues to receive generous support from Merton Borough Council, the trustees have acknowledged for many years that this cannot be relied on to continue indefinitely. In March 2022, the trustees agreed with the Council to a phased reduction in the grant received by 10% per annum for 5 consecutive years from the financial year 2023/24 onwards. The Board, and staff, focus is therefore to continue to improve our voluntary and earned income. Increasing the latter may require investment in new facilities, as we are reaching full capacity in several areas. A priority for trustees for the forthcoming year is to therefore review our assets to ensure that we are maximising their value to us. Further to this review, trustees will determine whether an accompanying investment strategy needs to be developed to implement the recommendations

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is constituted as a company limited by guarantee and was incorporated on 28 January 1991. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up, members are required to contribute an amount not exceeding £1.

Recruitment and appointment of new trustees

The directors of the charitable company ('the charity') are its trustees for the purpose of charity law and throughout this report are collectively referred to as the Board. Trustees are elected to the Board by members of the charity. The chairman of the trustees is elected by the Board of Trustees.

Organisational structure

The charitable company is governed by its Trustee Board which is responsible for setting the strategic direction of the organisation and the policy of the charity. The Trustees carry the ultimate responsibility for the conduct of the charity and for ensuring that it satisfies its legal and contractual obligations. The Trustee Board meets at least quarterly and there are additional meetings of appropriate members or groups as required. The day-to-day operation of the organisation has been delegated to the General Manager and senior management team In addition, there is an experienced team of paid staff and a substantial team of volunteers who are key to providing the services offered. by the charity.

Risk management

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate exposure to major risks.

The sources of the Farm's income continue to broaden, and the proportion of earned income has risen. Management are working to continue to reduce the charity's dependence on the funding it receives from the London Borough of Merton.

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

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DEEN CITY FARM LIMITED (REGISTERED NUMBER: 02577067)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

Trustees

M N Linden - Chair E Flanagan - Treasurer J Crush (appointed 26/9/23) R Dollimore (appointed 26/9/23) J Grainger (appointed 26/9/23) D R J Laird (appointed 28/4/23) H R L Nelless K T Turner L J Liell (resigned 25/7/24) V H Challacombe (appointed 28/4/23) (resigned 7/5/24) G W S Cheung (resigned 7/5/24) S J Conkling (resigned 7/5/24) L Davis (appointed 28/4/23) (resigned 7/5/24) A Ryan (resigned 23/4/23)

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 16 October 2024 and signed on its behalf by:

M N Linden - Trustee

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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 2024.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with 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)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Jonathan Askew The Institute of Chartered Accountants in England and Wales

Hartley Fowler LLP Chartered Accountants 4th Floor Tuition House 27-37 St George's Road Wimbledon London SW19 4EU

16 October 2024

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DEEN CITY FARM LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted
Restricted
fund
funds
Notes
£
£
INCOME AND ENDOWMENTS FROM
Grants and donations
2
233,719
17,140
Charitable activities
4
Riding school
166,039
-
Visitor services
140,414
-
Livestock and animals
70,439
-
General
6,740
-
Investment income
3
1,266
-
Total
618,617
17,140
EXPENDITURE ON
Charitable activities
5
Riding school
163,314
5,086
Visitor services
125,654
2,405
Livestock and animals
118,233
11,771
General
214,402
-
Total
621,603
19,262
NET INCOME/(EXPENDITURE)
(2,986)
(2,122)
RECONCILIATION OF FUNDS
Total funds brought forward
114,374
2,122
TOTAL FUNDS CARRIED FORWARD
111,388
-		 2024
Total
funds
£
250,859
166,039
140,414
70,439
6,740
1,266
635,757
168,400
128,059
130,004
214,402
640,865
(5,108)
116,496
111,388		 2023
Total
funds
£
177,256
162,032
130,429
82,040
5,417
442
557,616
182,602
112,464
112,472
160,939
568,477
(10,861)
127,357
116,496

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

The notes form part of these financial statements

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DEEN CITY FARM LIMITED (REGISTERED NUMBER: 02577067)

STATEMENT OF FINANCIAL POSITION 31 MARCH 2024

Notes
FIXED ASSETS
Tangible assets
13
CURRENT ASSETS
Stocks
14
Debtors
15
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
16
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS
Amounts falling due after more than one year
17
NET ASSETS
FUNDS
20
Unrestricted funds
Restricted funds
TOTAL FUNDS		 2024
£
34,460
6,655
16,512
108,916
132,083
(42,062)
90,021
124,481
(13,093)
111,388
111,388
-
111,388		 2023
£
50,503
6,051
6,318
113,682
126,051
(36,784)
89,267
139,770
(23,274)
116,496
114,374
2,122
116,496

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 16 October 2024 and were signed on its behalf by:

M N Linden - Trustee

The notes form part of these financial statements

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DEEN CITY FARM LIMITED

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash used in investing activities
Cash flows from financing activities
Loan repayments in year
Net cash used in financing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2024
£
5,659
5,659
(1,760)
1,266
(494)
(9,931)
(9,931)
(4,766)
113,682
108,916		 2023
£
4,962
4,962
(23,542)
442
(23,100)
(9,686)
(9,686)
(27,824)
141,506
113,682

The notes form part of these financial statements

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DEEN CITY FARM LIMITED

NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024

1.
RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES
2024
2023
£
£
Net expenditure for the reporting period (as per the Statement of
Financial Activities)
(5,108)
(10,861)
Adjustments for:
Depreciation charges
17,805
14,819
Interest received
(1,266)
(442)
Increase in stocks
(604)
(3,551)
Increase in debtors
(10,194)
(3,617)
Increase in creditors
5,026
8,614		 1.
RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES
2024
2023
£
£
Net expenditure for the reporting period (as per the Statement of
Financial Activities)
(5,108)
(10,861)
Adjustments for:
Depreciation charges
17,805
14,819
Interest received
(1,266)
(442)
Increase in stocks
(604)
(3,551)
Increase in debtors
(10,194)
(3,617)
Increase in creditors
5,026
8,614		 1.
RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES
2024
2023
£
£
Net expenditure for the reporting period (as per the Statement of
Financial Activities)
(5,108)
(10,861)
Adjustments for:
Depreciation charges
17,805
14,819
Interest received
(1,266)
(442)
Increase in stocks
(604)
(3,551)
Increase in debtors
(10,194)
(3,617)
Increase in creditors
5,026
8,614		 1.
RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES
2024
2023
£
£
Net expenditure for the reporting period (as per the Statement of
Financial Activities)
(5,108)
(10,861)
Adjustments for:
Depreciation charges
17,805
14,819
Interest received
(1,266)
(442)
Increase in stocks
(604)
(3,551)
Increase in debtors
(10,194)
(3,617)
Increase in creditors
5,026
8,614
Net cash provided by operations 5,659 4,962
2.
ANALYSIS OF CHANGES IN NET FUNDS
Net cash
Cash at bank and in hand		 At 1/4/23
£
113,682		 Cash flow
£
(4,766)		 At 31/3/24
£
108,916
113,682 (4,766) 108,916
Debt
Debts falling due within 1 year
Debts falling due after 1 year		 (9,931)
(23,274)		 (252)
10,181		 (10,183)
(13,093)
(33,205) 9,929 (23,276)
Total 80,477 5,163 85,640

The notes form part of these financial statements

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DEEN CITY FARM LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

a) Preparation of the accounts on a going concern basis

After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the charity where this can quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers.

Donated services or facilities are recognised when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognised and refer to the trustees' report for more information about their contribution.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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DEEN CITY FARM LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

1. ACCOUNTING POLICIES - continued

Tangible fixed assets

All assets costing more than £1,500 are capitalised.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and 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

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Basic financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayment are valued at the amount repaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

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 to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

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DEEN CITY FARM LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

----- Start of picture text -----
2. GRANTS AND DONATIONS
2024 2023
£ £
Donations 155,339 89,133
Legacies 2,000 301
Grants 93,520 87,822
250,859 177,256
Grants received, included in the above, are as follows:
2024 2023
£ £
LB Merton - Core funding 76,372 84,900
Other grants 17,148 2,922
93,520 87,822
3. INVESTMENT INCOME
2024 2023
£ £
Deposit account interest 1,266 442
4. INCOME FROM CHARITABLE ACTIVITIES
2024 2023
Activity £ £
Riding school Riding school 166,039 162,032
Shop and cafe Visitor services 41,470 36,433
Education and craft Visitor services 3,561 265
Events and fundraising Visitor services 95,342 93,349
Miscellaneous Visitor services 41 382
Education and craft Livestock and animals 10,658 18,618
Livestock and animals Livestock and animals 59,781 63,422
Miscellaneous General 6,740 5,417
383,632 379,918
5. CHARITABLE ACTIVITIES COSTS
Direct Support
Costs (see costs (see
note 6) note 7) Totals
£ £ £
Riding school 46,779 121,621 168,400
Visitor services 13,592 114,467 128,059
Livestock and animals 27,445 102,559 130,004
General 37,626 176,776 214,402
125,442 515,423 640,865
----- End of picture text -----

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DEEN CITY FARM LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

6.
DIRECT COSTS OF CHARITABLE ACTIVITIES
Training
Purchases
Education and craft
Care of livestock
Operation of stables
Telephone and utilities
Office supplies
Other
7.
SUPPORT COSTS
Riding school
Visitor services
Livestock and animals
General
Support costs, included in the above, are as follows:		 2024
2023
£
£
1,246
1,979
17,634
17,869
-
26
51,631
46,315
22,593
26,822
8,233
21,933
7,961
9,265
16,144
8,422
125,442
132,631
Management
£
121,621
114,467
102,559
176,776
515,423

Management

Wages
Social security
Pensions
Insurance
Advertising
Operational costs
Premises costs
Bank charges and interest
Loan interest
Independent examiner's fees
Bookkeeping and accountancy
Depreciation of tangible and heritage assets		 Riding
school
£
100,345
6,411
1,799
8,228
-
886
-
3,952
-
-
-
-
121,621		 Visitor
services
£
98,996
4,994
1,274
709
690
6,628
443
733
-
-
-
-
114,467		 Livestock
and
animals
£
96,405
3,569
1,007
-
-
26
800
752
-
-
-
-
102,559

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DEEN CITY FARM LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

7. SUPPORT COSTS - continued

Management - continued

8.

----- Start of picture text -----
||||| |---|---|---|---| |2024|2023| |Total|Total| |General|activities|activities| |£|£|£| |Wages|68,610|364,356|329,998| |Social security|4,141|19,115|22,775| |Pensions|1,270|5,350|4,781| |Insurance|10,445|19,382|12,358| |Advertising|908|1,598|6| |Operational costs|49,274|56,814|20,088| |Premises costs|13,647|14,890|13,918| |Bank charges and interest|713|6,150|8,182| |Loan interest|720|720|961| |Independent examiner's fees|1,520|1,520|1,450| |Bookkeeping and accountancy|7,723|7,723|6,510| |Depreciation of tangible and heritage assets|17,805|17,805|14,819| |176,776|515,423|435,846| |NET INCOME/(EXPENDITURE)| |Net income/(expenditure) is stated after charging/(crediting):| |2024|2023| |£|£| |Depreciation - owned assets|17,803|14,820|

----- End of picture text -----

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.

10. STAFF COSTS

The key management personnel of the charity comprise the Operations Manager, the Livestock Manager, the Riding School Manager and the Visitor Experience Manager as well as the trustees. The total employee benefits of key management personnel of the charity (including employers NI) were £140,354 (2023 - £140,841).

The average monthly number of employees during the year was as follows:

----- Start of picture text -----
|||| |---|---|---| |2024|2023| |Staff|15|21|

----- End of picture text -----

No employees received emoluments in excess of £60,000.

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DEEN CITY FARM LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

----- Start of picture text -----
11. INDEPENDENT EXAMINER'S REMUNERATION
2023 2022
£ £
Independent examination 1,450 1,350
Accountancy 3,475 3,290
4,925 4,640
12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund funds funds
£ £ £
INCOME AND ENDOWMENTS FROM
Grants and donations 167,199 10,057 177,256
Charitable activities
-
Riding school 162,032 162,032
Visitor services 130,429 - 130,429
Livestock and animals 82,040 - 82,040
General 5,417 - 5,417
Investment income 442 - 442
Total 547,559 10,057 557,616
EXPENDITURE ON
Charitable activities
-
Riding school 182,602 182,602
Visitor services 112,437 27 112,464
Livestock and animals 105,137 7,335 112,472
General 154,492 6,447 160,939
Total 554,668 13,809 568,477
NET INCOME/(EXPENDITURE) (7,109) (3,752) (10,861)
RECONCILIATION OF FUNDS
Total funds brought forward 121,483 5,874 127,357
TOTAL FUNDS CARRIED FORWARD 114,374 2,122 116,496
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DEEN CITY FARM LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

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13. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings Totals
£ £ £ £
COST
At 1 April 2023 14,284 61,873 67,295 143,452
Additions - - 1,760 1,760
At 31 March 2024 14,284 61,873 69,055 145,212
DEPRECIATION
At 1 April 2023 11,674 25,624 55,651 92,949
Charge for year 391 15,468 1,944 17,803
At 31 March 2024 12,065 41,092 57,595 110,752
NET BOOK VALUE
At 31 March 2024 2,219 20,781 11,460 34,460
At 31 March 2023 2,610 36,249 11,644 50,503
14. STOCKS
2024 2023
£ £
Animal supplies, shop and cafe 6,655 6,051
15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 5,865 1,443
Other debtors 3,122 -
Prepayments 7,525 4,875
16,512 6,318
16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts (see note 18) 10,183 9,931
Trade creditors 6,921 392
VAT 12,176 10,807
Other creditors 8,932 8,104
Accrued expenses 3,850 7,550
42,062 36,784
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DEEN CITY FARM LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

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17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Bank loans (see note 18) 13,093 23,274
18. LOANS
An analysis of the maturity of loans is given below:
2024 2023
£ £
Amounts falling due within one year on demand:
Bank loans 10,183 9,931
Amounts falling between one and two years:
Bank loans - 1-2 years 10,441 10,183
Amounts falling due between two and five years:
Bank loans - 2-5 years 2,652 13,091
19. ANALYSIS OF NET ASSETS BETWEEN FUNDS
2024 2023
Unrestricted Restricted Total Total
fund funds funds funds
£ £ £ £
Fixed assets 34,460 - 34,460 50,503
Current assets 132,083 - 132,083 126,051
Current liabilities (42,062) - (42,062) (36,784)
-
Long term liabilities (13,093) (13,093) (23,274)
-
111,388 111,388 116,496
20. MOVEMENT IN FUNDS
Net
movement At
At 1/4/23 in funds 31/3/24
£ £ £
Unrestricted funds
General fund 114,374 (2,986) 111,388
Restricted funds
-
Jack Petchey Fund 1,200 (1,200)
Mayor's Community Fund 922 (922) -
-
2,122 (2,122)
TOTAL FUNDS 116,496 (5,108) 111,388
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DEEN CITY FARM LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

20. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Jack Petchey Fund
Mayor's Community Fund
Wimbledon/London Community Fund
Together Fund: Changing Lives Through
Horses
Community Drugs & Alcohol Services
(CDARS)
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Restricted funds
General
Visitor services
Jack Petchey Fund
Mayor's Community Fund
TOTAL FUNDS		 Incoming
Resources
Movement
resources
expended
in funds
£
£
£
618,617
(621,603)
(2,986)
-
(1,200)
(1,200)
-
(922)
(922)
9,687
(9,687)
-
3,003
(3,003)
-
4,450
(4,450)
-
17,140
(19,262)
(2,122)
635,757
(640,865)
(5,108)
Net
movement
At
At 1/4/22
in funds
31/3/23
£
£
£
121,483
(7,109)
114,374
5,847
(5,847)
-
27
(27)
-
-
1,200
1,200
-
922
922
5,874
(3,752)
2,122
127,357
(10,861)
116,496

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DEEN CITY FARM LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

20. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
General
Livestock
Visitor services
Jack Petchey Fund
Mayor's Community Fund
TOTAL FUNDS		 Incoming
Resources
Movement
resources
expended
in funds
£
£
£
547,559
(554,668)
(7,109)
-
(5,847)
(5,847)
7,335
(7,335)
-
-
(27)
(27)
1,800
(600)
1,200
922
-
922
10,057
(13,809)
(3,752)
557,616
(568,477)
(10,861)

The restricted funds represent amounts that have been donated or granted to the farm on the basis that they are used in a specific manner. The exception to this is the general fund where costs have been funded by grant giving bodies to meet the general running overheads of the farm. These grants in particular are particularly appreciated due to the flexibility they give us in managing the farm's activities.

21. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2024.

22. ULTIMATE CONTROLLING PARTY

The trustees are the immediate and ultimate controlling party.

Each of the trustees signs up as a "Friend of the Farm" and so makes a donation that varies between £5 a month and £15 per annum. No other significant donations from trustees have been noted.

23. COMPANY LIMITED BY GUARANTEE

The charity is a company limited by guarantee. The members of the company are the trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

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