Report of the Trustees and
Financial Statements for the Year Ended 30 September 2024
for
Freightliners Farm Limited (A Company Limited by Guarantee)
Prestons & Jacksons Partnership LLP 364 - 368 Cranbrook Road Ilford Essex IG2 6HY
Freightliners Farm Limited
Contents of the Financial Statements for the Year Ended 30 September 2024
| Page | ||
|---|---|---|
| Report of the Trustees | 1 | to 7 |
| Independent Examiner's Report | 8 | |
| Statement of Financial Activities | 9 | |
| Balance Sheet | 10 | to 11 |
| Notes to the Financial Statements | 12 | to 21 |
| Detailed Statement of Financial Activities | 22 | to 23 |
Freightliners Farm Limited
Report of the Trustees
for the Year Ended 30 September 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 30 September 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).
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Improve quality of life particularly for those most in need;
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Promote community participation, education and skills development;
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Promote caring, nurturing and respect for others, the natural and built environment and all living things
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within the London Boroughs of Islington, Hackney, Haringey, Camden and their environs.
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Associating with the local authorities, voluntary organisations and inhabitants in a common effort to
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provide facilities in the interest of social welfare for recreation and other leisure time occupations;
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providing learning opportunities covering agriculture, horticulture, home crafts, country life, the natural
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environment and related subjects;
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Educating people in the care and consideration for all animals particularly animals in need of care and
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protection. For these purposes to care for and exhibit animals in common agricultural and domestic use and rare breeds of farm animals so that the public will have a greater awareness of and appreciation for such animals;
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Providing a rural type of outdoor environment in the inner city which enables urban people to access a
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little bit of the countryside; and
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Demonstrating social, economic and environmental sustainability through modelling of practices, use of
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technology, fair access, enterprise and involvement.
In setting our objectives and planning our activities, the Trustees have given careful consideration to the Charity Commission's guidance on public benefit.
The diverse range of activities which are carried out by the Farm include project work, commissioned services, social enterprise and ongoing development work. In pursuit of its stated objectives, the charity's activities can be classified according to the aims of individual pieces of work as follows:
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Community support by providing facilities in the interest of social welfare for therapy, recreation and
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other leisure time occupations.
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Education by providing training and learning opportunities.
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Environmental awareness by providing facilities to improve appreciation, consideration and care for all
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animals and their habitats; and
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Social enterprise by providing unique opportunities for local people, developing educational food
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programmes, and supplying local goods and services in an accessible manner and at a reasonable cost.
Page 1
Freightliners Farm Limited
Report of the Trustees
for the Year Ended 30 September 2024
Dealing with tough financial challenges whilst striving to meet the significant needs in our farm and wider community and securing funds for our continuing survival for the short and medium term was the top priority for 2023-24. Funding from Islington Council provided financial stability and we were then able to work on building further opportunities for income generation and service delivery.
Visitor numbers and demand for participation in activities, education programmes and volunteering continued to grow and the farm was able to provide an active, attractive and exciting green space with farm animals, wildlife and productive gardens for the local community. This year we rebuilt the productive garden using timber from the hedgerows and recycled fencing. We were awarded gold and outstanding from RHS London in Bloom in 2024.
People from across the community benefited from new experiences; skills development; gaining knowledge, qualifications and work experience and accessing the benefits of being outdoors and in contact with people, animals and nature for their health and wellbeing.
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Freightliners Farm Limited
Report of the Trustees for the Year Ended 30 September 2024
The Farm provided an essential and unique green space for the local community, providing a wide range of educational and recreational opportunities enjoyed by people of all backgrounds and ages. Through targeted sessions, we engaged with isolated individuals, including families on low incomes or under stress, people with disabilities, and people with mental health problems. We collaborated with organisations including NHS Forensic Mental Health Services, Harington Scheme, Mencap, London City Farms and Community Gardens, NOVA New Opportunities, Solace Women's Aid, Targeted Youth Services, Bright Start Islington, and Action for Autism. The sessions facilitated vulnerable and in need people to access the benefits of being outdoors, taking part in creative, nature, and community-based activities.
We hosted guided visits for groups from 75 schools and community organisations with 2800 children participating in farm tours and activities such as candle making, felt making, and planting seeds, bulbs, or cuttings. School visits provided children and families with real life learning about animals, farms, nature and food growing. They also introduced the farm to local families who would not otherwise of discovered the farm and its free and open access services. Children and families had new experiences and opportunities to learn together.
During the year with the support of London Borough of Islington, Big Give's Green Match Fund and Kusuma Trust the farm offered a full programme of family activities with sessions each day of the school holidays. Four local SEN schools and a primary school have utilised the farm as a space for their pupils to spend time gaining skills and benefiting from contact with the outdoors and nature.
Our regular young farmers programme has expanded and now provides 6 sessions a week as well as individually tailored placements for young people to gain skills and experience in farming, animal care and community work and through the year 31 young people took part on a regular basis. The programme has been particularly important in supporting young people who have struggled with return to school or college after the pandemic with many experiencing anxieties and remaining home schooled or having difficulty with work placement requirements. The farm is a supportive environment where young people who are isolated can engage with others and contribute to their community.
We ran two heavily subscribed week long summerversity courses in partnership with Isledon Arts. The courses were a great way of introducing more Islington Young people to the farm community and provided a good introduction to animal care and land based skills.
This year young people from our programmes have moved on to study veterinary medicine and nursing, animals care and management and agriculture at college and university.
Page 3
Freightliners Farm Limited
Report of the Trustees for the Year Ended 30 September 2024
The Farm facilitated the active participation of a diverse community of people in the maintenance, development and delivery of a city farm. Farm staff provide training, management, and support to 54 regular volunteers (including 31 young people, 6 people over 60, and 19 people with disabilities or long-term health or mental health problems), 528 people from local businesses and 5 weekly school and community group sessions. The monthly drop-in adult evening volunteering session is regularly attended enabling more local people to volunteer, get together and contribute to the space at a time that suits their way of life.
We also facilitated vocational training and work experience placements for young people and adults, with 8 young people on school block placements, 3 students on Veterinary College Animal Husbandry Placements, and others using volunteering for college work placement hours.
Volunteers and staff celebrated the 50th anniversary of the farm with a summer celebration.
The farm site and gardens were awarded outstanding for the RHS It's Your Neighbourhood Award and Gold for the London In Bloom Community Garden Category.
528 people from local companies contributed 3200 hours to help with maintaining the site, gardens, and animal accommodation, installing new fencing, assisting with hedgerow maintenance, rebuilding the vegetable garden and supporting the maintenance of a safe public open farm.
As ever the most popular educational and therapeutic sessions are based around the farm animals. The animals are empathetic and non-judgemental companions who provide comfort and reassurance to many people. Visitors and volunteers are able to learn skills in animal care and husbandry which would not otherwise be available to city people and to develop a practical understanding of animal welfare and conservation.
We welcomed our new Portland breeding ewes and are looking forwards to contributing to the breed societies efforts to maintain the national flock with lambs of our own in the coming years.
Drop-in learning sessions featured creative activities raising awareness about the wild animals on the farm including invertebrates, mammals, birds and amphibians and creating and conserving habitats for them. We worked with the RSPB to provide local people with information about conservation, visiting their reserves locally and membership.
We delivered more corporate team volunteer days than ever this year connecting people working in the corporate world with their local community, providing volunteer labour and increased revenue from supporting businesses and associated giving through platforms like Benevity. Revenue generated through team days has close to doubled and we are working to continue the growth in this activity in future years.
Page 4
Freightliners Farm Limited
Report of the Trustees
for the Year Ended 30 September 2024
The farm maintained a full school visits and commissioned SEN education provision programme meeting demand and providing a slowly growing income contributing to the delivery of the farm education services.
We were very pleased with the results of our first Big Give Green Match fundraising appeal which ran in April and generated £5000 in public donations matched by the Big Give and with gift aid added to total £12000 in support of nature and greening activities on the farm including family activities and the installation of a self-guided nature trail.
The match funding was popular with visitors encouraging them to donate and we are seeking to build on this with future campaigns either through the Big Give Programmes or with the support of some regular local donors. Our 50th anniversary fundraiser also helped raise the profile of our funding requirements amongst local people bringing in a number of donations and much support.
We would like to thank everyone who has supported the farm this year with donations, fundraising efforts and spreading the word about our appeals without this support the farm would not exist or be able to provide a much needed green space for the community.
The Statement of Financial Activities shows total income resources of £206,519 (2023: £196,099) whilst total outgoing resources of £205,558 (2023: £210,033) which resulted to a surplus of £961. (2023: Deficit - £13,934).
Fund balances at the year end stood at £117,738 (2023: £116,777) of which £26,165 (2023: £24,755) was unrestricted and £91,573 (2023: £92,022) was restricted.
The Management Committee has established a policy whereby the restricted reserves equate to the net book value of certain company tangible fixed assets and that all other reserves are classified as unrestricted reserves. The Management Committee maintains the ambition to establish reserves of 3-6 months running costs, as recommended by the Charity Commission however the COVID-19 pandemic and its aftermath has resulted in a temporary but significant depletion of reserves.
The Management Committee is satisfied that the charity's assets in each fund are available and adequate to fulfill its obligations in respect of each fund.
Over the coming year we know that we will continue to need the support of our partners, service commissioners, local community, donors and supporters as funds remain extremely tight. The farm staff, volunteers and trustees remain determined to ensure that Freightliners City Farm provide a safe and welcoming green space for everyone for the next 50 years and to be innovative and efficient in our approach to securing the resources needed to meet the needs in our local and wider community.
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Page 5
Freightliners Farm Limited
Report of the Trustees
for the Year Ended 30 September 2024
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The organisation is a charitable company limited by guarantee, incorporated on 14th August 1992. 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, each member is required to contribute an amount not exceeding £1.
Freightliners Farm Limited has a Management Committee that meets at least five times a year and is responsible for the strategic direction and policy of the charity. The Management Committee met bi-monthly (either on the farm or using remote video conferencing) to provide additional oversight and guidance considering financial pressures significantly impacting the farm's operations. At present, the Committee has five members from a variety of professional backgrounds relevant to the work of the charity, including people from the local area.
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The Management Committee has conducted its own review of the major risks to which the charity is exposed, and systems have been established to mitigate those risks. Significant external risks to funding have led to the development of a strategic plan, which will allow for the diversification of funding and activities. Internal risks are minimized by the implementation of procedures for authorization of all transactions and projects, ensuring consistent quality of delivery for all operational aspects of the charitable company. These procedures are periodically reviewed to ensure that they continue to meet the needs of the charity.
02740034 (England and Wales)
1014216
Sheringham Road N7 8PF
O.S Robinson M.Rowe A. Weatherhead Thomas N Bailly - Appointed on 24th July 2025 Laura Mackennon - Appointed on 3rd October 2024 S. Victoria Forrest - Resigned on 31st December 2024 Pete Macintyre - Resigned on 31st January 2024
E McAllister
E McAllister
Page 6
Freightliners Farm Limited
Report of the Trustees for the Year Ended 30 September 2024
A. Patel BA(Hons) FCA BFP Prestons & Jacksons Partnership LLP 364 - 368 Cranbrook Road Ilford Essex IG2 6HY
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 25[th] September 2025 and signed on its behalf by:
Mark Rowe Trustee / Company Director
Thomas Bailly Trustee / Company Director
Page 7
Inde Frei ndent Examiner's R tliners Faml Limited rt to the Trustees of Independent examiner's report to the trustees of Freigbtliners Farm Limited {'the Company,) I report to the charity trust¢¢s on my examination of the accounts of the Company for the year ended 30 September 2024. Responsibilities and basis of report As the charity's tSteeS of the Company (and also ils 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 mvself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for indep¢nd¢nl examination, I report in rcsp¢cl of my examination of your LharitVs accounls as carried out under Section 145 of the Charities Act 2011 ('th¢ 201 l Act,). li) carrying out my examination I hai'e followed the DireclioLs given by the Charily Commission under Seclion 145(5) (b) of the 2011 Act. Infjependent examiner's Statement I have completed my examination. I confm that no matters have come to n]y attention in cOnntIon with thL Lxamination giTring me cause to believe.. accounti]Jg rKords were not kq)t in reSpt of the Company as required by Section 386 of th¢ 2006 the accounts do not accord with those records- the accounts do not comply the accounting Tequir¢ments of Section 396 of th¢ 2006 Act other than any requirement that the accounts give a true and fair view which is nol a matter considered as part of an indq)¢nd¢nt examinalion. or the accounts have noi been prq)ared in accordance with the mdhods and principles of the Statement of Recommended Practice for accounling and r¢polling by charities (applicable to charities preparing their accounts in accordance with the Financial Rq)orting 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 lo which attention should be drawn in this report in order to enable a proper understanding of the accounts to be IcaLhcd. TE A. Patel BA(Hons) FCA BFP Prestons & Jacksons Partnership LLP 364 - 368 Cranbrook Roiid Ilford Ess IG2 6HY Date: ...... Pagc 8
Freightliners Farm Limited
Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 30 September 2024
| 30.9.24 | 30.9.23 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | fund | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| INCOME ANDENDOWMENTS FROM | |||||
| Grants and Donations | 2 | 81,532 | 41,947 | 123,479 | 114,934 |
| Charitable activities | 4 | ||||
| Charitable Activities | 83,013 | - | 83,013 | 81,149 | |
| Investment income | 3 | 27 | - | 27 | 16 |
| Total | ~~164,572~~ | ~~41,947~~ | ~~206,519~~ | 196,099 | |
| EXPENDITURE ON | |||||
| Raising funds | 5 | 270 | - | 270 | 624 |
| Charitable activities | 6 | ||||
| Community Support | 64,629 | 8,439 | 73,068 | 72,065 | |
| Education | 45,493 | 10,981 | 56,474 | 59,954 | |
| Environment | 30,557 | 12,240 | 42,797 | 43,094 | |
| City farming and visitor services | ~~23,834~~ | ~~9,115~~ | ~~32,949~~ | 34,296 | |
| Total | ~~164,783~~ | ~~40,775~~ | ~~205,558~~ | 210,033 | |
| NETINCOME/(EXPENDITURE) | (211) | 1,172 | 961 | (13,934) | |
| Transfers between funds | 17 | ~~1,621~~ | ~~(1,621)~~ | ~~-~~ | - |
| Net movement in funds | 1,410 | (449) | 961 | (13,934) | |
| RECONCILIATION OFFUNDS | |||||
| Total funds brought forward | 24,755 | 92,022 | 116,777 | 130,711 | |
| TOTALFUNDS CARRIEDFORWARD | 26,165 | 91,573 | 117.738 | 116,777 |
The notes form part of these financial statements
Page 9
Freightliners Farm Limited
Balance Sheet
30 September 2024
| 30.9.24 | 30.9.23 | ||
|---|---|---|---|
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | 13 | 77,924 | 79,549 |
| CURRENTASSETS | |||
| Debtors | 14 | 55,943 | 32,598 |
| Cash at bank | ~~15,368~~ | 23,549 | |
| 71,311 | 56,147 | ||
| CREDITORS | |||
| Amounts falling due within one year NET CURRENTASSETS TOTALASSETSLESSCURRENT LIABILITIES NETASSETS |
15 | (31,497) ~~39,814~~ 117,738 117,738 |
(18,919) 37,228 116,777 116,777 |
| FUNDS | 17 | ||
| Unrestricted funds: | |||
| General fund | 26,163 | 24,755 | |
| Restricted funds: | |||
| Restricted Funds | |||
| ~~91,575~~ | 92,022 | ||
| TOTALFUNDS | 117.7 | 116,777 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(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.
The notes form part of these financial statements
continued...
Page 10
Freightliners Farm Limited
Balance Sheet - continued
30 September 2024
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small company’s regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 26[th] September 2025 and were signed on its behalf by:
Mark Rowe Trustee / Company Director
Thomas Bailly Trustee / Company Director
The notes form part of these financial statements
Page 11
Freightliners Farm Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
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.
The board of directors and management confirmed that they have secured sufficient fundings for the next foreseeable future. In addition, the company has guaranteed financial support from local communities, donors and Islington councils.
As a result of this, the accounts have been prepared on a going concern basis.
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.
Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts.
Investment income is included when receivable.
Incoming resources from charitable trading activities are accounted for when earned.
Incoming resources from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.
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.
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates:
Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes including the charity's shop.
continued...
Page 12
Freightliners Farm Limited
Notes to the Financial Statements - continued for the Year Ended 30 September 2024
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.
All costs are allocated between the expenditure categories of the SoFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis e.g. floor areas, per capita or estimated usage as set out in the notes to the accounts.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 2% on cost Improvements to property - 15% on cost Fixtures and fittings - at varying rates on cost
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
The charity is exempt from corporation tax on its charitable activities.
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Designated funds are Unrestricted funds earmarked by the Management Committee for particular purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
continued...
Page 13
Freightliners Farm Limited
Notes to the Financial Statements - continued for the Year Ended 30 September 2024
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the suture payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less and impairment.
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
| GRANTS ANDDONATIONS | ||
|---|---|---|
| 30.9.24 | 30.9.23 | |
| £ | £ | |
| Gift aid | 5,500 | 6,500 |
| Grants and Donations | ~~117,979~~ | 108,434 |
| 123,479 | 114,934 |
continued...
Page 14
Freightliners Farm Limited
Notes to the Financial Statements - continued for the Year Ended 30 September 2024
Grants received, included in the above, are as follows:
| 30.9.24 | 30.9.23 | |
|---|---|---|
| £ | £ | |
| Donations under £1,000 | 4,086 | 8,035 |
| Donations through Local Giving Platform | 4,166 | - |
| Donations through Benivity Charitable Giving | 2149 | - |
| LB Islington Green Space and Leisure Division | 32,000 | 32,000 |
| J&M Douglas | 5,000 | 5,000 |
| L Matlock | 10,000 | 10,000 |
| LB Islington Children's Services | 9,831 | 9,597 |
| The Co-op | 2,289 | - |
| Waitrose Community Matters | 1,500 | |
| Robert MCallister | 5,224 | |
| London Community Energy Fund | 4,610 | |
| Hilden Charitable Trust | 1,500 | |
| Kusuma Trust | 25,000 | |
| Anonymous | 6,201 | 5,968 |
| LB - Islington Community Investment Levy | 20,000 | - |
| The Beryl Evetts and Robert Luff Animal Welfare Trust | 10,000 | - |
| The Big Give - Green Match Fund | 10,957 | - |
| London Farm and Gardens | ~~1,300~~ | - |
| 117,979 | 108,434 | |
| INVESTMENTINCOME | ||
| 30.9.24 | 30.9.23 | |
| £ | £ | |
| Deposit account interest | 27 | 16 |
Deposit account interest
continued...
Page 15
Freightliners Farm Limited
Notes to the Financial Statements - continued for the Year Ended 30 September 2024
----- Start of picture text -----
||||||
|---|---|---|---|---|
|30.9.24|30.9.23|
|Activity|£|£|
|Income from provision of|
|goods and services|Charitable Activities|83,013|—|81,149|
|Grants received, included in the above, are as follows:|
|30.9.24|30.9.23|
|£|£|
|CAFE Income|1,477|
|Education Income|20,036|18,836|
|Other Farm Income|32,372|30,774|
|LBI Islington (SEND)|750|
|Isledon Arts|5000|5,000|
|Riverside School|7,032|
|Southover School Partnership|17040|17,280|
|North London Forensic Mental Health Service|1600|-|
|LBI Haringey (SEND)|6965|-|
|83,013|81,149|
|RAISING|FUNDS|
|Raising donations and|legacies|
|30.9.24|30.9.23|
|£|£|
|Fundraising Costs|_270|—|624|
|CHARITABLE|ACTIVITIES|COSTS|
|Support|
|Direct|costs (see|
|Costs|note 7)|Totals|
|£|£|£|
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Community Support Education Environment City farming and visitor services
continued...
Page 16
Freightliners Farm Limited
Notes to the Financial Statements - continued for the Year Ended 30 September 2024
| SUPPORT COSTS | |||
|---|---|---|---|
| Governance | |||
| Management | costs | Totals | |
| £ | £ | £ | |
| Community Support | 20,096 | - | 20,096 |
| Education | 14,705 | - | 14,705 |
| Environment | 11,599 | - | 11,599 |
| City farming and visitor services | ~~5,903~~ | ~~2.700~~ | ~~8,603~~ |
| 52,303 | 2,700 | 55,003 | |
| NETINCOME/(EXPENDITURE) | |||
| Net income/(expenditure) is stated after charging/(crediting): | Net income/(expenditure) is stated after charging/(crediting): | ||
| 30.9.24 | 30.9.23 | ||
| £ | £ | ||
| Depreciation - owned assets | 6,323 | 5,603 | |
| Independent Examiners Fees | 2,700 | 2,700 |
There were no trustees' remuneration or other benefits for the year ended 30 September 2024 nor for the year ended 30 September 2023.
There were no trustees' expenses paid for the year ended 30 September 2024 nor for the year ended 30 September 2023.
| 30.9.24 | ||
|---|---|---|
| 30.9.24 | 30.9.23 | |
| £ | £ | |
| Wages and salaries | ~~151,856~~ | 145,224 |
| 151,856 | 145,224 | |
| The average monthly number of employees during the year was as follows: | ||
| 30.9.24 | 30.9.23 | |
| Engaged on Charitable Activities | 4 | 4 |
| Engaged on administration and management | ~~__1~~ | 1 ~~—~~ |
| —__5 | 5 — |
No employees received emoluments in excess of £60,000.
continued...
Page 17
Freightliners Farm Limited
Notes to the Financial Statements - continued for the Year Ended 30 September 2024
| 2023 | |||
|---|---|---|---|
| Unrestricted | Restricted | Total | |
| fund | fund | funds | |
| £ | £ | £ | |
| INCOMEANDENDOWMENTS FROM | |||
| Grants and Donations | 69,937 | 44,997 | 114,934 |
| Charitable activities | |||
| Charitable Activities | 81,149 | - | 81,149 |
| Investment income | 16 | - | 16 |
| Total | 151,102 | 44,997 | 196,099 ~~a~~ |
| EXPENDITUREON | |||
| Raising funds | 624 | - | 624 |
| Charitable activities | |||
| Community Support | 58,472 | 13,593 | 72,065 |
| Education | 53,580 | 6,374 | 59,954 |
| Environment | 35,990 | 7,104 | 43,094 |
| City farming and visitor services | 28,935 | 5,361 | 34,296 |
| Total | 177,601 | 32,432 | 210,033 ~~oe~~ |
| NETINCOME/(EXPENDITURE) | (26,499) | 12,565 | (13,934) |
| Transfers between funds | 2,140 | (2,140) | - |
| Net movement in funds | (24,359) | 10,425 | (13,934) |
| RECONCILIATIONOFFUNDS | |||
| Total funds brought forward | 49,114 | 81,597 | 130,711 |
| TOTALFUNDSCARRIED | |||
| FORWARD | 24,755 | 92,022 | 116,777 |
continued...
Page 18
Notes to the Financial Statements - continued for the Year Ended 30 September 2024
Freightliners Farm Limited
Key Management Personnel is considered to be the CEO and the Board of Trustees. Her gross remuneration was £34,511 for the year ended 30th September 2024. (30th September 2023 - £34,217)
| TANGIBLEFIXEDASSETS | ||||
|---|---|---|---|---|
| Improvements | Fixtures | |||
| Short | to | and | ||
| leasehold | property | fittings | Totals | |
| £ | £ | £ | £ | |
| COST | ||||
| At 1 October 2023 | 95,922 | 3,428 | 70,694 | 170,044 |
| Additions | ~~—___=~~ | ~~4,698~~ | ~~a~~ | ~~_4,698~~ |
| At 30 September 2024 | ~~95,922~~ | ~~8,126~~ | ~~70,694~~ | ~~174,742~~ |
| DEPRECIATION | ||||
| At 1 October 2023 | 48,506 | 1,028 | 40,961 | 90,495 |
| Charge for year | ~~1,918~~ | ~~1,232~~ | ~~3,173~~ | ~~6,323~~ |
| At 30 September 2024 | ~~50,424~~ | ~~2,260~~ | ~~44,134~~ | ~~96,818~~ |
| NETBOOKVALUE | ||||
| At 30 September 2024 | 45,498 | 5,866 | 26,560 | 77,924 |
| At 30 September 2023 | 47,416 | 2,400 | 29,733 | 79,549 |
| DEBTORS: AMOUNTSFALLINGDUE WITHINONE YEAR | ||||
| 30.9.24 | 30.9.23 | |||
| £ | £ | |||
| Trade debtors | 35,804 | 26,098 | ||
| Other debtors | 179 | - | ||
| Prepayments and accrued income | 19,960 | 6,500 | ||
| 55,943 | 32,598 — |
continued...
Page 19
Freightliners Farm Limited
Notes to the Financial Statements - continued for the Year Ended 30 September 2024
| 30.9.24 | 30.9.23 | ||||||
|---|---|---|---|---|---|---|---|
| £ | £ | ||||||
| Trade creditors | 13,873 | 6,671 | |||||
| Social security and other taxes | 11,793 | 8,919 | |||||
| Other creditors | 2,831 | 629 | |||||
| Accrued expenses | ~~3,000~~ | 2,700 | |||||
| 31,497 | 18,919 | ||||||
| ANALYSIS OFNETASSETS BETWEENFUNDS | |||||||
| 30.9.24 | 30.9.23 | ||||||
| Unrestricted | Restricted | Total | Total | ||||
| fund | fund | funds | funds | ||||
| £ | £ | £ | £ | ||||
| Fixed assets | 32,426 | 45,498 | 77,924 | 79,549 | |||
| Current assets | 25,234 | 46,077 | 71,311 | 56,147 | |||
| Current liabilities | ~~(31,497)~~ | ~~-~~ | ~~(31,497)~~ | (18,919) | |||
| 26,163 | 91,575 | 117,738 | 116,777 | ||||
| MOVEMENT INFUNDS | |||||||
| Analysis ofRestricted Reserves carried forward as at30th | |||||||
| September 2024 | |||||||
| 30.9.2024 | 30.9.2023 | ||||||
| £ | £ | ||||||
| Kusuma Trust | 12,496 | ||||||
| London Community Energy Fund | (6) | ||||||
| LBI Children Services | 3 | ||||||
| Social Farms and Gardens Hilden Charitable Trust Summer Activity | Social Farms and Gardens Hilden Charitable Trust Summer Activity | ||||||
| Fund | (20) | ||||||
| LBI Community Investment Levy | 9,029 | - | |||||
| The Big Give - Green Match Fund | 4,620 | - | |||||
| Total Revenue Restricted Funds | 13,649 | 12,473 | |||||
| Fixed Asset Fund (See note 13) | 77,924 | 79,549 | |||||
| RestrictedFundscarriedforward-30th | 30thSept | 91,573 | 92,022 |
continued...
Page 20
Freightliners Farm Limited
Notes to the Financial Statements - continued for the Year Ended 30 September 2024
During the year, the Farm had financial transactions of £1,300 (30th September 2023: £3,100) with London City Farms and Community Gardens Association, whose trustee is also the Chief Executive Officer of the Farm.
Page 21
Freightliners Farm Limited
Detailed Statement of Financial Activities for the Year Ended 30 September 2024
| Detailed Statement of Financial Activities for the Year Ended 30 September 2024 |
||
|---|---|---|
| 30.9.24 | 30.9.23 | |
| £ | £ | |
| INCOME ANDENDOWMENTS | ||
| Grants and Donations | ||
| Gift aid | 5,500 | 6,500 |
| Grants and Donations | ~~117,979~~ | 108,434 |
| 123,479 | 114,934 | |
| Investment income | ||
| Deposit account interest | 27 | 16 |
| Charitable activities | ||
| Income from provision of goods and | ||
| services | ~~83,013~~ | 81,149 |
| Total incoming resources | 206,519 | 196,099 |
| EXPENDITURE | ||
| Raising donationsand legacies | ||
| Fundraising Costs | 270 | 624 |
| Charitable activities | ||
| Salaries | 134,241 | 127,781 |
| COG for Trading | 1,215 | 2,357 |
| Premises Costs | 13,044 | 16,031 |
| General Admin | 726 | 326 |
| Other Support Costs | ~~1,059~~ | 1,660 |
| 150,285 | 148,155 | |
| Support costs | ||
| Management | ||
| Wages | 17,615 | 17,443 |
| Premises Costs | 345 | 452 |
| Insurance | 735 | 810 |
| Professional Fees | 4,761 | 3,323 |
| Other Support Costs | ~~28,847~~ | 36,526 |
| 52,303 | 58,554 | |
| Governance costs | ||
| Independent Examiners Fees | 2,700 | 2,700 |
This page does not form part of the statutory financial statements
Page 22
Freightliners Farm Limited
Detailed Statement of Financial Activities for the Year Ended 30 September 2024
----- Start of picture text -----
|||||
|---|---|---|---|
|30.9.24|30.9.23|
|£|£|
|Total resources expended|205,558|210,033|
|Net income/(expenditure)|__961|_—|(13,934)|
----- End of picture text -----
This page does not form part of the statutory financial statements
Page 23