Registered number 02761648
East Hull Community Farm Limited
Report and Accounts
31 March 2024
East Hull Community Farm Limited Report and accounts Contents
| Page | |
|---|---|
| Company information | 1 |
| Directors/Trustees annual report | 2-4 |
| Independet examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Statement of changes in equity | 8 |
| Notes to the accounts | 9-12 |
East Hull Community Farm Limited Company Information
Directors
L Offen D Offen S Alltoft J Boyd P Fawcett
Accountants
Jacksons Chartered Accountants First Floor Albion House Albion Street Hull HU1 3TE
Bankers
Santander Bank PLC Bootle Merseyside L30 4GB
Registered office
East Hull Community Farm Barham Road Bilton Grange Hull HU9 4EE
Registered number
02761648
Charity number 1017056
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East Hull Community Farm Limited Registered number: 2761648
Directors/Trustees Annual Report for the year ended 31 March 2024
Statement of trustees responsibilities
The directors are responsible for preparing the report and accounts in accordance with applicable law and regulations.
Company law requires the directors to prepare accounts for each financial year.
Under that law the directors have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
Under company law the directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.
In preparing these accounts, the directors are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will continue in business
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the accounts comply with the Companies Act 2006.
The directors are responsible for safeguarding the assets and take necessary action to prevent fraud and other irregularity.
Structure, Governance and Management
Governing document and Organisational structure
East Hull Community Farm Limited is limited by guarantee and is a registered charity governed by its memorandum and Articles of Association. It acts entirely as a non-profit making organisation. The charity is a public benefit.
The board of Trustees/Directors meet quarterly to administer the Charity. The Charity is supported by paid staff and volunteers who oversee the day to day operation. The overall management of the farm is overseen by the Chair of the Board.
Recruitment and Appointment of Trustees/Directors
Trustees/Directors are recruited from the local community and organisations, and are elected to the Board at the Annual General Meeting. At each Annual General Meeting of the Company all of the Board retire from office and will be eligible for re-election.
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East Hull Community Farm Limited Registered number: 2761648 Directors/Trustees Annual Report for the year ended 31 March 2024
Risk management
The Trustees/Directors review the major risks to which the Charity is exposed. Internal risks are minimised by the implementation of procedures for authorising transactions and projects, to ensure consistent quality of delivery for all operational aspects of the Charity. These procedures are periodically reviewed to ensure they meet the needs of the Charity.
Objectives and Activities
Objectives
Through the workings of a city based working farm, the main objective of the charity is to provide learning, education and training, remedial and therapeutic activities for a range of local people.
The Charity's emphasis is on adults with physical and learning difficulties, but it also encompasses young people, the unemployed, and socially isolated individuals.
To develop opportunities for widening the awareness of horticulture, farm livestock and food production, particularly through local schools, groups and the general population.
Activities
Provision of remedial and therapeutic activities for adults with learning difficulties and physical difficulties through a partnership with the city’s Social Services department.
Provision of volunteering opportunities available to all sectors of the local community.
Provision of training related to growing and preparing food with an emphasis on improving individual wellbeing.
When planning activities for the year, the Trustees/Directors have considered the Commission’s guidance on Public Benefit.
Achievements and Performance
During the period, the following has been achieved in order to further our aims and objectives:
The Farm was successful in securing funding for significant capital improvements to pathways, toilets, meeting rooms and CCTV equipment. In addition funding was secured to pay for a Community Facilitator for a 2 year period which has led to significant increases to people visiting and engaging in activities on the farm.
The Farm continued to provide unique support to adults with learning and other difficulties improving their wellbeing through outdoor work with farm animals, craft work and classroom activities. The Farm is working closely with a local organisation opening up opportunities for young people to benefit from its unique offer.
The Farm is again fully operational following the lifting of Covid regulations.
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East Hull Community Farm Limited Registered number: 2761648 Directors/Trustees Annual Report for the year ended 31 March 2024
Financial Review
The Charity’s financial statements are set out on pages 6 to 12. The notes also form part of the financial statements.
During the year under review, the Charity has made a surplus of £46,957. This surplus is added to the brought forward unrestricted funds, which leaves the Charity with unrestricted funds of £189,432 to use in future years.
The Charity and its trustees are very mindful of the financial challenges facing the Farm. The tightening of Social Service budgets have made the financial position complex during the period. The restructuring of staffing previously reported has helped to stabilise the Farm’s financial position going forward. In addition contributions from other organisations using the farm for activities has helped the finances of the farm.
Reserves Policy
The Directors/Trustees seek to maintain a level of free reserves (that is funds not tied up in fixed assets and working capital) that will enable the charity to sustain its operation over a period when the income generation maybe curtailed temporarily or permanently. The Directors/Trustees consider the most appropriate level to be 6 months expenditure.
Directors
The following persons served as directors during the year:
L Offen D Offen S Alltoft J Boyd P Fawcett
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime, and advantage is taken of the exemptions in small companies regime.
This report was approved by the board on 30 September 2024 and signed on its behalf.
S Alltoft Director and Trustee
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East Hull Community Farm Limited Registered number: 2761648 Independent examiner report
Independent examiner's report to the trustees of East Hull Community Farm Limited
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2024 which are set out on pages 6 to 12.
Responsibilities and basis of report
As the charity 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 company’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
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 that in any material respect:
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accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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.
Mark Jackson FCA Jacksons Chartered Accountants First Floor Albion House Albion Street Hull HU1 3TE
30 September 2024
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East Hull Community Farm Limited Statement of financial activities (including income and expenditure) for the year ended 31 March 2024
| Note Placements Training funding/grants Produce sales Sundry income Rent income Total income Expenditure Expenditure on charitable activities 2 Administrative expenses 3 Total expenditure Net income and net movement in funds for the year Reconciliation of funds Total funds brought forward Total funds carried forward |
2024 £ 86,250 74,564 27,193 5,546 5,400 198,953 134,902 17,094 151,996 46,957 142,475 189,432 |
2023 £ 73,904 2,810 16,884 3,806 5,400 102,804 93,646 12,851 106,497 (3,693) 146,168 142,475 |
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East Hull Community Farm Limited Registered number: 02761648 Balance Sheet as at 31 March 2024
| Notes Fixed assets Tangible assets 5 Current assets Stocks Debtors 6 Cash at bank and in hand Creditors: amounts falling due within one year 7 Net current assets Net assets The funds of the charity Unrestricted income funds Total charity funds |
2024 £ 156,395 4,840 12,895 61,226 78,961 (45,924) 33,037 189,432 189,432 189,432 |
2023 £ 76,823 4,400 - 62,992 67,392 (1,740) 65,652 142,475 142,475 142,475 |
|---|---|---|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S Alltoft Director
Approved by the board on 30 September 2024
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East Hull Community Farm Limited Statement of Changes in Equity for the year ended 31 March 2024
| At 1 April 2022 Net surplus /(deficit) At 31 March 2023 At 1 April 2023 Net surplus /(deficit) At 31 March 2024 |
Unrestricted income funds £ 146,168 (3,693) 142,475 142,475 46,957 189,432 |
Total £ 146,168 (3,693) 142,475 142,475 46,957 189,432 |
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East Hull Community Farm Limited Notes to the Accounts for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland, Charities SORP (FRS102), and the Companies Act 2006.
On going concern
The on going concern has been applied. There are no material uncertainties to disclose.
Income
Income from placements is recognised when the placement has been completed, and when the charity becomes entitled to receive the income.
Grants and funding are recognised when the charity becomes entitled to them.
Produce sales are recognised when the goods have been delivered to the customer.
Expenditure
Expenditure is accounted for using the accruals concept. All expenditure directly connected to running the farm activities is treated as charitable expenditure. Expenditure related to running the office activities is treated as administration expenses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life as follows:
Property improvements 2% per annum - straight line method Plant and machinery 25% per annum - reducing balance method Motor vehices 25% per annum - reducing balance method
Cash and Cash Equivalent
Cash at bank and in hand includes cash in the premise and in the charities bank account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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East Hull Community Farm Limited Notes to the Accounts for the year ended 31 March 2024
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
The charity is exempt from tax on income and gains falling withing section 505 of the Taxes Act 1988 or secton 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
| 2 Expenditure on charitable activities Purchases Motor expenses Farm maintenance and repair Depreciation Sale of Motor vehicle Invoiced Personnel Costs |
2024 £ 31,128 161 8,662 8,587 - 86,364 134,902 |
2023 £ 21,040 413 6,083 2,904 (410) 63,616 93,646 |
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No trustee/director received any expenses or remuneration, and no employee received emoluments of more than £60,000.
| 3 Administrative expenses Utilities Telephone and internet Printing, postage and stationery Insurance Bank charges Independent examination Sundry 4 Employees Average number of persons employed by the charity |
2024 £ 10,133 989 1,248 2,642 182 1,860 40 17,094 2024 Number 1 |
2023 £ 6,094 863 1,186 2,573 117 1,740 278 12,851 2023 Number 1 |
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East Hull Community Farm Limited Notes to the Accounts for the year ended 31 March 2024
5 Tangible fixed assets
| Property improvements £ Cost At 1 April 2023 103,407 Additions 69,441 At 31 March 2024 172,848 Depreciation At 1 April 2023 30,855 Charge for the year 2,840 At 31 March 2024 33,695 Net book value At 31 March 2024 139,153 At 31 March 2023 72,552 6 Debtors Trade debtors 7 Creditors: amounts falling due within one year Other creditors Amounts owed by group undertakings and undertakings in which the company has a participating interest |
Plant and machinery £ 45,056 18,718 63,774 40,785 5,747 46,532 17,242 4,271 2024 £ 2,260 10,635 12,895 2024 £ 45,924 |
Total £ 148,463 88,159 236,622 71,640 8,587 80,227 156,395 76,823 2023 £ - - - 2023 £ 1,740 |
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8 Related party transactions
The Trustees have not have received remuneration or any benefits. The Trustees have not claimed expenses.
The Probe (Hull) Limited charges the East Hull Community Farm Limited for Personnel costs (salary cost only), this totaled £86,364 during the year. Steven Alltoft is a director of Probe (Hull) Limited and is a Trustee of East Hull Community Farm Limited.
At the year end, Probe (Hull) Limited is owed a sum of £43,780. This outstanding amount will be settled upon receipt of the fundings.
9 Presentational currency
The accounts are presented in £ sterling, the functonal currency of the Charity.
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East Hull Community Farm Limited Notes to the Accounts for the year ended 31 March 2024
10 Public Benefit entity
In planning our activities this year we worked in accordance with the Charity Commission guidance on public benefit. We exist to serve all areas of our community which includeds all age groups without discrimination and is without the distinction of sex, political or religious beliefs. We strive to promote social welfare and cohesion through the provision of events so improving the social and physical wellbeing of the local community.
11 Volunteers
The charity has one volunteer who assist in the delivery of the objectives of the charity. The volunteer mainly assisted with the general maintenance around the farm. The volunteer has not made any donations.
12 Other information
East Hull Community Farm Limited is a registered charity, a public benefit entity and a company limited by guarantee and incorporated in England. Its registered office is: East Hull Community Farm Barham Road Bilton Grange Hull HU9 4EE
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