**Registered number: 03035047 Charity number: 1045781**
# **LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
Bishop Fleming _'J_
**LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)**
## **CONTENTS**
||Page|
|---|---|
|**Chairman's Statement**|1|
|**Trustees' Report**|2 -10|
|**Independent Auditors' Report on the Financial Statements**|11 -14|
|**Consolidated Statement of Financial Activities**|15|
|**Consolidated Balance Sheet**|**16**|
|**Charity Balance Sheet**|**17**|
|**Consolidated Statement of Cash Flows**|**18**|
|**Notes to the Financial Statements**|19 -41|
**LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)**
## **CHAIRMAN'S STATEMENT FOR THE YEAR ENDED31MARCH2024**
The chairman presents his statement for the year.
This year has been one of continued growth and impact as the UK retail sector turns to LEAF Marque to drive forward its own sustainability ambitions. Added to this, the combination of our track-record proven over more than three decades, a range of successful UK and EU funded programmes and the launch of some exciting new partnerships across the food and farming sector, is contributing to the demand in our services. All are concerned about the threats to climate, nature and health, and are attracted by LEAF's pragmatic, Integrated Farm Management (IFM) model of f d production, that is firmly based on data and rooted in real world global farming approaches.
We welcomed our new Chief Executive David Webster to lead the organization through the next stage of its development and meet our strong ambitions for the future. His wide experience in the food industry will be invaluable as we expand our membership, connect with a broader range of industry stakeholders, continue the development of our assurance standards and support farmers across the globe in their journey to produce food more sustainably.
We continue to invest in people and resources that will underpin our future success. Our strong legacy has provided LEAF with an unprecedented level of trust within both agriculture and food but connecting farmers with solutions around carbon, water management and biodiversity will be an increasingly important priority. There is no 'rule book' to this new world of production but it is clear that the development of IFM to provide practical solutions will be at the heart of everything we do.
The impacts of weather events around the globe over the last year have never been greater. The weather has become a highly significant risk to all producers of f d and adapting our approach will be fundamental to our future success. Alongside this, the importance of producing more with less is a strategy we all need to adopt.
Educating the next generation about both challenges and opportunities around farming, food and the environment is vital and our team's progress over the last year has been exceptional. Our overall reach from resources, programmes and projects was in excess of 700,000 young people.
As the demand for LEAF Marque from the retail sector continues, we have invested heavily in the necessary tools, technology and information management systems that will address both the needs of growers and our industry partners. We are on a significant trajectory of growth and whilst funding remains a constraint, overall, LEAF is in good shape.
We are firmly focused on ensuring how we are delivering our core objectives: To connect, build trust and educate. Climate change continues to be the single biggest threat to the way we farm. Playing our part in providing farmers across the globe with the right solutions to f d an increasing global population with care and respect for the environment, is more important than ever. Philip Wynn Chairman he
Date: 13/11/2024
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**LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024**
The Trustees present their report and the financial statements for the year ended 31 March 2024. The charity is known as LEAF (Linking Environment And Farming).
## **REFERENCE AND ADMINISTRATIVE DETAIL**
LEAF is a registered charity and a registered company limited by guarantee.
Charity number 1045781 Company number 03035047
The principal office is at National Agricultural Centre, Stoneleigh Park, Warwickshire, CVS 2LG.
"The Registered Office" means the office of the Charity at: National Agricultural Centre Stoneleigh Park Warwickshire CVS 2LG
## **Legal status**
The charity is limited by guarantee. In the event of the charity being wound up, each member may be required to contribute a maximum of ten pounds.
## **Trustees**
The Trustees of the charity, who are also its Directors, are as follows:
CW Porter (Vice Chairman) S C Eppel
I A Ash bridge (Vice Chairman)
I Pigott (resigned 18 June 2023)
P G Wynn (Chairman) TM C Green
A J Davison (resigned 17 June 2024)
M F Young EK Penny Professor R J Rickson A L Romero Salcedo C M Mason (appointed 1 September 2023) JM Renner (appointed 23 September 2024)
## **Senior Management Team**
Chief Executive Chief Operating Officer Director, Business Development Director, Education and Public Engagement
David Webster Stephen Jones Clare Mike Carl Edwards
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**LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024**
## **Bankers**
National Westminster Bank Pie PO Box 137 59 The Parade Leamington Spa Warwickshire CV32 4BA
## **Solicitors**
Ladders Solicitors LLP Number Ten Elm Court Arden Street Stratford Upon Avon Warwickshire CV37 6PA
## **Independent Auditor**
Bishop Fleming LLP 1 - 3 College Yard Worcester WR1 2LB
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
LEAF (Linking Environment And Farming) is a nonprofit making, membership-based charity. It was founded in 1991 and became a registered charity in 1995. LEAF develops and promotes Integrated Farm Management (IFM). IFM is a whole farm approach combining traditional farming with modern technology. LEAF works to develop and communicate best practice messages to farmers, the agricultural and f d industry and non farmers.
LEAF supports its members to adopt and promote more sustainable farming practices through the adoption of IFM. Specifically, through the provision of management tools, technical information, training and talks. LEAF Marque is an independent assurance scheme, developed by LEAF. LEAF Marque Limited is a wholly owned subsidiary company of LEAF the Charity, incorporated in 2002.
LEAF benefits from a significant voluntary contribution from a network of LEAF Demonstration Farmers, Innovation Centres and supporters, the many farmers and helpers involved in LEAF Open Farm Sunday and from representation on the main management committees of LEAF: the LEAF Board, Policy and Strategic Development Committee and Advisory Board as well as additional committees supporting LEAF Marque.
The governing documents are the Memorandum and Articles of Association and membership rules.
The Trustees are the Board of Directors of the Charity. They are principally responsible for the governance of the Charity. The Trustees are selected by the principal management committees and the Chairman is usually a farmer who serves three to six years in that position. The Chairman is elected by the Board of Trustees and presented to members at the annual LEAF conference.
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**LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024**
## **Trustees' induction and training**
Most newly appointed Trustees are already familiar with the practical work of the charity, additionally all Trustees, and subcommittee members are provided with a full briefing, terms of reference and supporting literature. The supporting literature has been prepared from information drawn from LEAF's publications, including details of the Memorandum and Articles of Association, membership rules and the latest financial statements.
LEAF has developed a guidance handbook for all Trustees, setting out their obligations as Trustees for the charity. This included their requirement to ensure the delivery of public good. This handbook is reviewed on an annual basis and updated when necessary.
Strategic development of the organisation is the responsibility of the Trustees with day to day management being the responsibility of the LEAF Chief Executive.
## **Pay policy for senior staff**
The Trustees consider the Board of Trustees, who are also the Directors, and the Executive Leadership Team (as defined on page 2) comprise the key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day to day basis. The Trustees give all of their time freely and no Trustee has received remuneration in the year. Details of Trustees' expenses and related party transactions are disclosed in note 11 to these financial statements.
The pay of the senior staff is reviewed annually by a remuneration committee comprised of a subgroup of Trustees and is normally increased in accordance with average earnings. Usually in October each year, the Trustees will determine whether the salary levels for all staff should be adjusted for the forthcoming financial year beginning 1st April, to reflect changes in the cost of living and or to reflect changes in responsibility or improvements in performance.
The Trustees' considerations will begin with an assumption that salaries should be adjusted to match inflation (specifically the Consumer Price Index) over the preceding 12 months. They will then determine whether this is appropriate in the context of:
- the charity's financial situation (can it afford the CPI linked increase?)
- the charity's performance (have KPls been met?)
- cost of living adjustments made in recent years (have salaries kept pace with the CPI over the longerterm?)
- • pay reviews elsewhere (how might a failure to follow wider trends be perceived amongst staff, within partner organisations or amongst potential supporters?)
## **Risk management**
The Trustees recognise their responsibilities in terms of managing risk and have systems in place to ensure that the risks faced by the charity are identified, assessed, mitigated, and monitored. The Trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to control these risks. This is reviewed at least annually. A Risk and Audit Sub Committee comprised of a small group of Trustees was established to support this function.
We have carried out a full assessment of the risks associated with our activities and work and do not perceive there to be any detriment or harm arising from any of our activities.
The key controls used include:
- preparation and review of the Risk Register;
- formal agenda for Board meetings;
- comprehensive strategic planning, budgeting and management accounting;
- established organisational and governance structure and lines of reporting; and
- formal written policies.
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**LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024**
- The key risks that have been identified by the Trustees include:
- ] ] ]
- achieving insufficient income to meet the Trustees' target expenditure over the period of the strategic plan;
- • being unable to respond quickly to a need to reduce expenditure;
- a loss of influence at a Government policy level;
- • losing key staff and volunteers;
- the implications of Brexit; and
- restrictions resulting from the coronavirus pandemic. ;
Through the risk management process, the Trustees are satisfied that the risks have been identified and ] adequately mitigated. It is recognised that systems can only provide reasonable and not absolute assurance that | major risks have been adequately managed.
## **Public benefit**
When planning the charitable activities, reviewing our strategic aims and objectives and at Trustees meetings, LEAF's Trustees have paid attention to the Charity Commission's guidance with regards to our public benefit. ] ]
## **OBJECTIVES AND ACTIVITIES**
## **LEAF's charity objectives**
In 2012 LEAF revised its charitable objectives to reflect the global reach of the organisation. The charity's objects | | | | i now read:
_'The Charity's objects ("the objects'? are in the United Kingdom and throughout the World to promote and improve agriculture, horticulture and other types of farming and raise standards of practice in farm management for the public benefit, in particular by the promotion and advancement of the education of farmers and the general public concerning methods of farm management which conserve and enhance the fabric and wildlife of the countryside'._
> A full breakdown of our main activities carried out throughout the year follows. |
## **Our vision**
A global farming and f d system that delivers **Climate Positive** action, builds resilience and supports the **health, diversity** and **enrichment** of our food, farms, the environment and society.
## **Our mission**
> To inspire and enable more circular approaches to farming and food systems through i| **integrated, regenerative,** and **vibrant nature-based solutions,** | that deliver productivity and prosperity among farmers, enriches the | | | environment and positively engages young people and wider society. |
As a charity we strive to deliver the best possible value for our members and partners in everything we do. We focus our resource on a range of priorities that deliver our key objectives, and we are heavily reliant on a :r| ;; dedicated staff and many volunteers. This current strategy sets out our strategic priorities, and reflects the changing global environment that we find ourselves in.
## **The LEAF strategic plan:**
- sets out our aspirations for a more sustainable approach to food, farming and consumption;
- guides our work and focus our priorities;
- • inspires our staff and volunteers;
- informs and engages others in our work and ambitions; and |
- forms the basis for our business planning.
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**LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024**
## **Our strategy priorities**
LEAF is a charity that promotes and supports more sustainable farming to create a resilient f d and farming system for future generations.
- **We connect** We connect farmers, innovators and industry to understand best practice sustainable farm management and how it can be applied most effectively to each farm's unique situation.
- **We build trust**
- We provide assurance that growers are farming more sustainably through our independently audited LEAF Marque certification system, from the health of their soils to how they engage with local communities.
- **We educate**
- Our team of qualified educational specialists work with schools, citizens and farmers across the UK to bring sustainable farming to life, both in schools and on farm.
## **KEY ACHIEVEMENTS AND PERFORMANCE**
## **We Connect**
We connect farmers, innovators and industry to understand best practice sustainable farm management and how it can be applied most effectively to each farm's unique situation. Driving forward the science, technology and innovations that will ensure the scaling up of more sustainable global farming and f d systems is a key function of the LEAF Network of Demonstration Farmers and Innovation Centres, which underpins LEAF's knowledge generation and exchange capabilities. Best practice sustainable farm management research from our Innovation Centres - made up of some of the world's leading research centres, supports the evidence, development and promotion of more sustainable farming and help drive its continual improvement. In turn, they work alongside over forty Demonstration Farms, who put the science in practices and disseminate it to the wider farming community through on-farm visits, talks and training.
## Key achievements include:
- The launch of four additional Demonstration Farms and Innovation Centres in Scotland, Cambridgeshire, Gloucestershire and Wales. Members of the LEAF Network and the wider farming community met for field events in Shropshire and Norfolk looking at the role of novel technologies in more sustainable farming approaches.
- Continued involvement in a number of industry partnerships with Corteva AgriScience, Vitacress and the RAU - covering issues such as development future sustainability leaders, sustainable farming in the protected sector and cultured meats.
- Continued involvement in a number of UK and EU funded projects involving cross industry partnerships with farmers, researchers, and industry bodies. We participated in an EU climate panel and delivered in person and online events covering a range of sustainable farming issues such as paludiculture, agroforestry, integrated pest management cover crops, earth observation technologies, and legumes.
- Ongoing growth of our Beacons of Excellence programme to develop peer-to peer learning and explore specific IFM practices. A number of farmer events took place during the year including a visit to Barfoots and LEAF Innovation Centre NIAB EMR. We also established the Beacons of Excellence water group, supporting farmers with practical and innovative solutions for more sustainable water management.
- A one-year project to support ten farmers across the UK to implement agroforestry practices commenced during this financial year.
- The LEAF Annual Conference brought together key industry figures to discuss and debate the scaling up of more sustainable farming at a global level. The keynote address was delivered by former UN Environment Chief Scientist, Professor Jacqueline McGlade.
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**LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024**
## **We Build Trust**
We provide assurance that growers are farming more sustainably through our independently audited LEAF Marque certification; from the health of their soils to how they engage with local communities.
## **Key achievements include:**
- We continue to see UK's major retailers adopt LEAF Marque to advance their own sustainability commitments. At the start of the financial year, Asda and Aldi became the latest retailers to require all their UK and global fresh produce supply base to be LEAF Marque certified, following. This followed similar commitments from Lidl, Tesco and Quaker Oats last financial year, building on Waitrose's long-standing commitment to LEAF Marque.
- To support this increase in demand for certification, we have invested heavily in increasing staff numbers and enhancing our farmer training offers to provide the right technology and information management systems to address the needs of our growers as well as our retail partners. In September 2024, we will be launching an interactive, self-guided online training package, translated into multiple languages.
- We have delivered a programme of online and in person training, webinars and resources, throughout this period.
- Relationships with major f d brands including Quaker Oats, Jordans Cereals and Marks and Spencers continued as they require their growers to become LEAF Marque certified.
- LEAF Marque achieved equivalency with The Sustainability Initiative of South Africa (SIZA) following an in depth benchmarking process.
- Following an extensive 2-year public consultation, the latest version of the LEAF Marque Standard became effective with important developments in key areas including climate resilience, landscape and nature conservation, greenhouse gases and carbon f t printing, soil health and deforestation.
- Our next public consultation on the LEAF Marque Standard v17.0 commenced seeking views of a wide range of stakeholders on the future development of the Standard around the nine sections of Integrated Farm Management.
## **We Educate**
LEAF's education and public engagement vision is to engage, inspire and motivate young people and wider society to be conscious consumers who f l empowered to make decisions that ensure we have a world that is growing, eating and living sustainably. Our team of qualified educational specialists work with schools, citizens and farmers across the UK to bring sustainable farming to life, both in schools and on-farm.
## **Key achievements include:**
- Continued work with schools, teachers, trainee teachers, farmers, and parents to educate and connect young people with farming, how their food is produced and the natural environment.
- Eight-fold increase in our project delivery working with over 38,000 young people on -farm and in-classroom.
- Exponential growth in in demand for our CEVAS (Countryside Educational Visits Accreditation Scheme) with over 600 farmers undertaking the course to learn how to farm visits.
- In collaboration with Harper Adams Schools of Sustainable Food and Farming and Macdonald's, we published the results of our teenager research project. The research looked at young people's views of sustainable f d production, careers in the agri-food sector, their decisions as consumers and diversity within the agri-food sector. Following the research, LEAF Education set out key recommendations for the industry to take to address young people's engagement and awareness of the agri-f d sector.
- Annual National Food, Farming and Natural Environment competition was held at Myerscough College, providing secondary school students a residential weekend of practical workshops, debates and land-based activities around the agri-food sector.
- Over 500 young people received a first-hand learning experience on a working farm as a direct result of our partnership with Burger King.
- Held a Pop-Up Knowledge Hub held at Dyson Farming, supported by BASF and Sainsbury's which brought
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**LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024**
- together farmers, schools, universities, researchers and industry bodies to focus on farming education.
- • The farming industry's annual open day, LEAF Open Farm Sunday, saw 257 UK farms welcome 170,900 visitors to learn about the journey of their f d.
## **Governance**
LEAF's Board of Trustees is responsible for the overall Governance of the charity. 6 board meetings have been held, together with weekly meetings of the Executive Leadership Team made up of the LEAF CEO and three Directors.
LEAF's ten year strategy (2021-2031) was launched in November 2020. Since the uptake of LEAF Marque by most of the UK's major retailers, this strategy is currently being revised to reflect this growth.
## **FINANCIAL REVIEW**
As the Charity expected to see further significant growth following the adoption of the LEAF Marque Assurance System by major retailers and brands, it took a decision based on the strength of its reserves to further invest in personnel resources and IT systems to ensure it was positioned to deliver for that growth whilst accepting a budget that could result in a deficit of £268,267 in the 2023/24 financial year. In the end, the Charity has experienced an increase in its income this year (£2,759,954 versus £2,072,555 in 2023) and expenditure was relatively well controlled resulting in a final surplus of £176,805 which was better than forecast by some £445,072. The final result being an overall increase in net funds of £176,805 (2023: decrease of £133,520). The charity looks to use the budget as one of its main key performance indicators and any improvement in income or reduction in expenditure is looked upon favourably.
LEAF Marque Limited made a profit of £Nil (2023: £Nil) during the year, after a gift aid donation to LEAF of £104,206 (2023: £59,582), giving rise to net assets of £5,083 (2023: £5,083).
## **Insurance**
Insurance has been taken out by the charity under Section 232(2) of the Companies Act 2006, costing £1,760 (2023: £1,760) for its trustees and officers against liabilities in relation to the charity.
## **Reserves**
The Trustees have set a reserves policy which requires reserves to be maintained at a level which ensures LEAF's core activity could continue during a period of unforeseen difficulty (of not less than 4 months) and reserves be maintained in a readily realisable form. The calculation of the required level of reserves is an integral part of the organisation's planning, budget, and forecast cycle. It considers risks associated with each stream of income and expenditure being different from that budgeted, planned activity levels and the organisations commitments. The reserves levels are closely monitored as part of the management reporting and Trustee's will adjust policy dynamically by resolution in line with the associated risks. The current reserves policy aims for minimum free reserves of £582,000. Actual free undesignated reserves at 31 March 2024 were £781,273 (2023: £688,807). Recognising the relative strength of reserves, exponential growth in demand and the need to continue to invest in that growth and maintain and wherever practicable increase its capacity and capability to meet future demands, the Trustees have approved a marginal budget surplus of £1,123 for the 2024-24 financial year.
## **Investment policy**
Any surplus funds are placed on short term deposit.
## **Going concern**
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
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**LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024**
the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies (Note 2.2).
## **PLANS FOR FUTURE ACTIVITIES**
As the UK and global agricultural sectors recognise the urgent need to shift to more resilient and nature friendly farming practices in response to climate change, we expect to see the demand in LEAF's services continue to grow.
Many of our retail partners have now achieved full LEAF Marque certification roll out across their global fresh produce supply bases and we will continue to on-board the remaining retailers. Moving forward, we are firmly focused on working together to look at the application of IFM across other farming sectors including dairy, livestock, and poultry.
To support this demand, our continuing investment in staff, technology, training platforms and data management systems will ensure greater harmonisation of metrics and data sharing that will underpin the transition to more regenerative production methods. As our global reach increases, we are committed to ensuring that the LEAF Marque Standard and the systems that underpin it, are fit for purpose for an increasingly diverse global membership base.
The responsibility for sustainability does not rest on farmers' shoulders alone. We will continue to engage with industry partners to create the demand for more sustainably produced commodities, improve accountability and transparency in global supply chains and enable companies and consumers to make more responsible purchasing decisions. We are seeing growing recognition from the financial services sector of their role in helping drive environmental sustainability amongst their farming clients. We are looking at ways to harness this trend and are exploring a number of potential partnerships.
The sectors and landscapes we work in have changed dramatically since LEAF first began in 1991. We are now a hugely diverse, global alliance of farmers and companies, working together to make deep rooted change on some of the most pressing environmental issues of our time. The challenge now is to implement transformative change to more regenerative farming methods at scale and pace.
## **FUNDRAISING**
LEAF is pleased to report it continues its commitment to fundraising best practice and remains registered and compliant with the Code of Fundraising Practice and continues to display the regulator's logo (demonstrating we operate in a way that is legal, open, honest and respectful). We are listed in the regulators public directory to LEAF has continued to be registered and compliant with the standards of the Fund raising Regulator. Fund raising is specifically limited to on line individual web based donations and handwritten bids by experienced long established fund raisers. All written bids are scrutinised and approved by the Executive leader ship and Trustees. The Trustees attend and monitor a range of activities and receive regular feedback and reports on all activities and have sight of all funded activity reports. Neither the fund raisers or LEAF is bound by any voluntary schemes and is delighted to report it has once again received no complaints about its charitable activities nor its fund raising activities. The Charity's does not have fund raisers or commercial participators delivering its activities. The Fundraising regulator noted in writing to the Charity that in LEAF's March 2023 Accounts report it failed to report its association with the regulator correctly, and this has been addressed. In terms of protection of vulnerable people and members of the public, LEAF restricts its fundraising to online web based personal donations and written targeted bids to organisations and not individuals. There is no face-to-face fundraising in either public or private spaces.
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**LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024**
## **STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS**
The Trustees who were in office on the date of approval of these financial statements have confirmed, as far as they are aware, that there is no relevant audit information of which the auditors are unaware. Each of the trustees have confirmed that they have taken all the steps that they ought to have taken as trustees in order to make themselves aware of any relevant audit information and to establish that it has been communicated to the auditors.
## **AUDITORS**
The auditors, Bishop Fleming LLP, have indicated their willingness to continue in office. A resolution concerning the appointment of auditors for the ensuing year will be proposed at the Board Meeting.
Approved by order of the members of the board of Trustees and signed on their behalf by: **P GWynn** Chair of Trustees 7a
Date: 13/11/2024
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**LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LINKING ENVIRONMENT AND FARMING**
## **OPINION**
We have audited the financial statements of Linking Environment And Farming (the 'parent charitable company') and its subsidiaries (the 'group') for the year ended 31 March 2024 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Charity Balance Sheet, the Consolidated Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the Group's and of the parent charitable company's affairs as at 31 March 2024 and of the Group's incoming resources and application of resources, including its income and expenditure for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011.
## **BASIS FOR OPINION**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **CONCLUSIONS RELATING TO GOING CONCERN**
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
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**LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LINKING ENVIRONMENT AND FARMING (CONTINUED)**
## **OTHER INFORMATION**
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements.
- the Trustees' Report has been prepared in accordance with applicable legal requirements.
## **MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION**
In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:
- the parent charitable company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent charitable company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of Trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' Report and from the requirement to prepare a Strategic Report.
## **RESPONSIBILITIES OF TRUSTEES**
As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.
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**LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LINKING ENVIRONMENT AND FARMING (CONTINUED)**
## **AUDITORS' RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS**
> Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free [| from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures ] in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, | including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is | detailed below:
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, we considered the following: ||
- the nature of the industry and sector, control environment and business performance; |
- • results of our enquiries of management and the board about their own identification and assessment of the ; risks of irregularities;
- any matters we identified having obtained and reviewed the company's documentation of their policies and ; procedures relating to: ]i |
- • r r identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;
- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or ; alleged fraud;
- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; and : ;
- • the matters discussed among the audit engagement team regarding how and where fraud might occur in | | fl • the financial statements and any potential indicators of fraud. |
As a result of these procedures, we considered the opportunities and incentives that may exist within the ] company for fraud, which included incorrect recognition of revenue and management override of controls using manual journal entries, and these were identified as the greatest potential area for fraud. |
| | | ] In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.
We also obtained an understanding of the legal and regulatory frameworks that Linking Environment and ] | ] Farming operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included FRS 102, the UK Companies Act and tax legislation. ;
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty. These included relevant product safety standards, occupational health and safety fl note oon regulations and employment legislation. ;
; Our procedures to respond to risks identified included the following:
- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance
- ] | |
- with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
- reviewing the financial statement disclosures and testing to supporting documentation to assess the || recognition of revenue; |.
- • enquiring of management and those charged with governance concerning actual and potential litigation and claims;
Page 13
## **LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LINKING ENVIRONMENT AND FARMING (CONTINUED)**
- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
- reading minutes of meetings of those charged with governance; and
- in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; and assessing whether the judgements made in making accounting estimates are indicative of a potential bias.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from an error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.orq.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
## **USE OF OUR REPORT**
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company's trustees, as a body, Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.
**Andrew Wood FCCA (Senior Statutory Auditor)** for and on behalf of **Bishop Fleming LLP** Chartered Accountants Senior Statutory Auditors 1-3 College Yard Worcester WR1 2LB
Date: 29 November 2024
Page 14
## **LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)**
## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024**
|||**Unrestricted**|**Restricted**|**Total**|Total|
|---|---|---|---|---|---|
|||**funds**|**funds**|**funds**|funds|
|||**2024**|**2024**|**2024**|2023|
||**Note**|£|£|£|£|
|**Income from:**||||||
|Donations and legacies|3|**163,308**||**163,308**|146,707|
|Charitable activities|4|**2,293,274**|**32,617**|**2,325,891**|1,750,816|
|Other trading activities|5|**270,749**||**270,749**|175,009|
|Investments|6|**6**||**6**|23|
|**Total income**||**2,727,337**|**32,617**|**2,759,954**|2,072,555|
|**Expenditure on:**
|||eee|||EES|
|Raising funds||**166,543**||**166,543**|56,182|
|Charitable activities|7|**2,121,237**|**295,369**|**2,416,606**|2,149,893|
|**Total expenditure**
**2,287,780**
**295,369**
**2,583,149**
**Net income/(expenditure)**
**439,557**
**(262,752)**
**176,805**
Transfers between funds
19
**(17,091)**
**17,091**
2,206,075
(133,520)
||
;
-
-||||||
|**Net movement in funds**||**422,466**|**(245,661)**|**176,805**|(133,520)|
|**Reconciliation of funds:**|**Reconciliation of funds:**|||||
|Total funds brought forward
|||**755,188**
||**429,940**
||**1,185,128**
||1,318,648
||
|Net movement in funds||**422,466**|**(245,661)**|**176,805**|(133,520)|
|**Total funds carried forward**||**1,177,654**|**184,279**|**1,361,933**|1,185,128|
The Consolidated Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 19 to 41 form part of these financial statements.
Page 15
**LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE) REGISTERED NUMBER:03035047**
## **CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2024**
**----- Start of picture text -----**
2024 2023
Note £ £
Fixed assets
Intangible assets 12 90,849 29,359
Tangible assets 13 56,089 60,400
Investments 14 321 322
147,259 90,081
Current assets
Debtors 15 1,058,268 616,408
Cash at bank and in hand 477,026 670,778
1,535,294 1,287,186
Creditors: amounts falling due within one
year 16 (320,620) (192,139)
Net current assets 1,214,674 1,095,047
Total net assets 1,361,933 1,185,128
Charity funds
Restricted funds 19 184,279 429,940
Unrestricted funds 19 1,177,654 755,188
Total funds 1,361,933 1,185,128
**----- End of picture text -----**
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
**P GWynn** Chair of Trustees Date: 13/11/2024
The notes on pages 19 to 41 form part of these financial statements.
Page 16
## **LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE ) REGISTERED NUMBER:03035047**
## **CHARITY STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 31MARCH 2024**
**----- Start of picture text -----**
2024 2023
Note £ £
Fixed assets
Intangible assets 12 90,849 29,359
Tangible assets 13 56,089 60,400
Investments 14 322 322
147,260 90,081
Current assets
Debtors 15 1,109,078 708,440
Cash at bank and in hand 409,488 567,109
1,518,566 1,275,549
Creditors: amounts falling due within one
year 16 ( 308,975) (185,584)
Net current assets 1,209,591 1,089,965
Total net assets 1,356,851 1,180,046
Charity funds
Restricted funds 19 184,279 429,940
Unrestricted funds 19 1,172,572 750,106
Total funds 1,356,851 1,180,046
**----- End of picture text -----**
The Charity's net movement in funds for the year was £176,805 (2023 - £(117,870)).
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
## **P GWynn**
Chair of Trustees
Date: 13/11/2024
The notes on pages 19 to 41 form part of these financial statements.
Page 17
## **LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)**
## **CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024**
||**2024**|2023|
|---|---|---|
||£|£|
|**Cash flows from operating activities**|||
|Net cash used in operating activities|**(102,004)**|(338,757)|
|**Cash flows from investing activities**|||
|Investment income|**6**|23|
|Purchase of intangible assets|**(73,758)**|(31,600)|
|Purchase of tangible fixed assets|**(17,461)**|(16,190)|
|**Net cash used in investing activities**|**(91,213)**|**(47,767)**|
|**Cash flows from financing activities**|||
|Interest element of hire purchase contracts|**(536)**|(47)|
|**Net cash used in financing activities**|**(536)**|**(47)**|
|**Change in cash and cash equivalents in the year**|**(193,753)**|**(386,571)**|
|Cash and cash equivalents at the beginning of the year|**670,778**|1,057,349|
|**Cash and cash equivalents at the end of the year**|**477,025**|670,778|
|The notes on pages 19 to 41 form part of these financial statements|||
Page 18
**LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31MARCH2024** 0
## **1. GENERAL INFORMATION**
Linking Environment and Farming is a charitable company limited by guarantee incorporated in England & | Wales and domiciled in England.
> The registered office is National Agricultural Centre, Stoneleigh Park, Kenilworth, Warwickshire, CV8 2LG. |
> The charitable company's registered number is 03035047. |
In the event of the charity being wound up, each member has undertaken to contribute towards its | liabilities a sum of not exceeding ten pounds.
The charity is registered as a charity, no 1045781, with the Charity Commission and is exempted from | , Corporation Tax on its income in the year. |
## **2. ACCOUNTING POLICIES**
## **2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS** .__
> The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - || | and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard 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 | | | | : . applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Linking Environment And Farming meets the definition of a public benefit entity under FRS 102. ; Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise | | stated in the relevant accounting policy. |
The presentation currency for the group and the charitable company during the year was Sterling, | | and are rounded to the nearest £1. || |
The Consolidated Statement of Financial Activities (SOFA) and Consolidated Balance Sheet consolidate the financial statements of the Charity and its subsidiary undertaking, LEAF Marque | Limited, for the year. The results of the subsidiary are consolidated on a line by line basis. |
The Charity has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Financial Activities in these financial statements.
## **2.2 GOING CONCERN**
The Trustees have reviewed all information available to them and do not consider there to be any significant doubts about the charitable company's ability to continue as a going concern. These financial statements have therefore been prepared on this basis.
The Trustees have prepared budgets and cash flow forecasts to for a period of at least 12 months ; following the date of approval of the financial statements. The Group has a net asset value as at 31 March 2024 of £1,361,933 (2023: £1,185,128) and cash at bank and in hand of £477,026 (2023: ; £670,788). On this basis the financial statements have been prepared on a going concern basis.
Page 19
**LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31MARCH2024**
## **2. ACCOUNTING POLICIES (continued)**
## **2.3 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 Group and which have not been designated for other | [ purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular ; purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
> Restricted funds are funds which are to be used in accordance with specific restrictions imposed by || donors or which have been raised by the Group 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.
> Investment income, gains and losses are allocated to the appropriate fund. ||
## **2.4 INCOME**
Voluntary income including donations and grants that provide core funding or are of a general nature | | | are recognised when there is entitlement, certainty of receipt and the amount can be measured with || | | sufficient reliability. | ;
Income is only deferred when the donor specifies that the grant or donation can only be used in future accounting periods or the donor has imposed conditions which must be met before the charity has | unconditional entitlement.
Investment income is accounted for when receivable.
] | Commission/membership income is accounted for, in full, when received.
Income tax recoverable in relation to investment income is recognised at the time the investment ] | income is receivable. |
## **2.5 EXPENDITURE**
Expenditure is recognised on an accruals basis when a liability is incurred. Contractual arrangements | | and performance related grants are recognised as goods or services are supplied. ||
> Support costs include central functions. |
Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs ; of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with [ r - [ the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. ;
Page 20
**LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31MARCH2024**
## **2. ACCOUNTING POLICIES (continued)**
## **2.5 EXPENDITURE (CONTINUED)**
> Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its || charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs.
## **2.6 INTANGIBLE ASSETS AND AMORTISATION**
|. Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment ] losses. Intangible assets are amortised on a straight line basis over their estimated useful life. The | carrying value of intangible assets is reviewed for impairment if events or changes in circumstances indicate the carrying value may not be recoverable. ]
The estimated useful lives are as follows:
- Website development 3 years
## **2.7 TANGIBLE FIXED ASSETS AND DEPRECIATION**
Tangible fixed assets costing £250 or more are capitalised and recognised when future economic | ; benefits are probable and the cost or value of the asset can be measured reliably.
] | Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be | included in the measurement of cost. |
Depreciation is charged by equal annual instalments commencing with the date of acquisition at rates ] | estimated to write off their cost less any residual value over their expected useful lives which are as follows:
Long-term leasehold property ] ] - Over the life of the lease improvements Motor vehicles - 5 years - Furniture and equipment 3 - 10 years
## **2.8 GOVERNMENT GRANTS**
Government grants relating to tangible fixed assets are treated as deferred income and released to \ \ oy \ the Consolidated Statement of Financial Activities over the expected useful lives of the assets concerned. Other grants are credited to the Consolidated Statement of Financial Activities as the ; related expenditure is incurred. r r
## **2.9 INVESTMENTS**
Fixed asset investments are a form of financial instrument and are recognised at mid-market value at ] the balance sheet date.
Page 21
**LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31MARCH 2024**
## **2. ACCOUNTING POLICIES (continued)**
## **2.10 RETIREMENT BENEFITS**
The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.
## **2.11 INTEREST RECEIVABLE**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Group; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## **2.12 FOREIGN CURRENCIES**
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the reporting date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.
Exchange gains and losses are recognised in the Consolidated Statement of Financial Activities.
## **2.13 OPERATING LEASES**
Rentals paid under operating leases are charged to the Consolidated Statement of Financial Activities on a straight line basis over the lease term.
## **2.14 DEBTORS**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **2.15 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.
## **2.16 LIABILITIES**
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt after allowing for any trade discounts due or the amount it has received as advanced payments for the goods or services it must provide.
Page 22
**LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31MARCH2024**
## **2. ACCOUNTING POLICIES (continued)**
## **2.17 FINANCIAL INSTRUMENTS**
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.
Financial assets and liabilities that are measured at cost and amortised cost are assessed at the end | | of each reporting period for objective evidence of impairment. If objective evidence of impairment is | |[ found, an impairment loss is recognised in the Statement of Financial Activities.
; Financial assets and liabilities that are measured at fair value are determined using active market rate. |
Page 23
**LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31 MARCH2024**
## **3. INCOME FROM DONATIONS AND LEGACIES**
||**Unrestricted**|**Total**|Total|
|---|---|---|---|
||**funds**|**funds**|funds|
||**2024**|**2024**|2023|
||£|£|£|
|Donations|163,308|**163,308**|146,707|
|TOTAL 2023|146,707|146,707||
## **4. INCOME FROM CHARITABLE ACTIVITIES**
||**Unrestricted**|**Restricted**|**Total**|Total|
|---|---|---|---|---|
||**funds**|**funds**|**funds**|funds|
||**2024**|**2024**|**2024**|2023|
||**£**|**£**|**£**|£|
|Membership renewals|943,476||**943,476**|638,530|
|Sponsorship|287,104||**287,104**|410,258|
|Project funding, grants, research and talks|1,007,695|32,617|**1,040,312**|461,660|
|Other income and DBS|54,999||**54,999**|240,368|
|**TOTAL 2024**|2,293,274|32,617|**2,325,891**|1,750,816|
|TOTAL 2023|1,349,467|401,349|1,750,816||
Page 24
**LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31MARCH2024**
## **5. INCOME FROM OTHER TRADING ACTIVITIES**
## **Income from non charitable trading activities**
|||**Unrestricted**|**Total**|Total|
|---|---|---|---|---|
|||**funds**|**funds**|funds|
|||**2024**|**2024**|2023|
|||£|£|£|
|Income from LEAF Marque Limited|Income from LEAF Marque Limited|270,749|**270,749**|175,009|
|TOTAL 2023|TOTAL 2023|175,009|175,009||
The wholly owned trading subsidiary LEAF Marque Limited is incorporated in England and Wales (company number 04454468) and pays all of its profits to the Charity under the Gift Aid scheme. During the year ended 31 March 2023 LEAF Marque Limited reported income of £270,749 (2023: £175,009) and expenditure of £166,543 (2023: £115,427). Gift Aid of £104,206 (2023: £75,232) was paid to the Charity in respect of LEAF Marque Limited's profit for the year.
## **6. INVESTMENT INCOME**
||**Unrestricted**|**Total**|Total|
|---|---|---|---|
||**funds**|**funds**|funds|
||**2024**|**2024**|2023|
||**£**|**£**|£|
|Dividends received|6|**6**|15|
|Interest receivable|||8|
|**TOTAL 2024**|6|**6**|23|
|TOTAL 2023|23|23||
Page 25
**LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES** TO THE **FINANCIAL STATEMENTS FOR THE YEAR ENDED31 MARCH2024**
## **7. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES**
## **Summary by fund type**
||**Unrestricted**|**Restricted**|||
|---|---|---|---|---|
||**funds**|**funds**|**Total**|Total|
||**2024**|**2024**|**2024**|2023|
||**£**|**£**|**£**|£|
|Integrated Farm Management|2,121,237|295,369|**2,416,606**|2,149,893|
|TOTAL 2023|1,898,553|251,340|2,149,893||
|**ANALYSIS OF EXPENDITURE BY ACTIVITIES**|||||
||**Activities**||||
||**undertaken**|**Support**|**Total**|Total|
||**directly**|**costs**|**funds**|funds|
||**2024**|**2024**|**2024**|2023|
||**£**|**£**|**£**|£|
|Integrated Farm Management|2,180,710|235,896|**2,416,606**|2,149,893|
|TOTAL 2023|1,969,754|180,139|2,149,893||
## **8. ANALYSIS OF EXPENDITURE BY ACTIVITIES**
Page 26
**LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31MARCH 2024**
## **8. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)**
## **ANALYSIS OF DIRECT COSTS**
||**Integrated**|||
|---|---|---|---|
||**farm**|**Total**|Total|
||**management**|**funds**|funds|
||**2024**|**2024**|2023|
||£|£|£|
|Staff costs|1,521,779|**1,521,779**|1,304,636|
|Staff welfare and recruitment|15,805|**15,805**|73,629|
|Premises|40,801|**40,801**|22,921|
|Travel and subsistence|77,749|**77,749**|43,881|
|Hospitality and meeting costs|33,071|**33,071**|16,971|
|Training|7,748|**7,748**|9,421|
|Printing, postage, stationery and telephone|55,552|**55,552**|78,503|
|PR & marketing|64,542|**64,542**|85,217|
|Professional and consultancy fees|174,338|**174,338**|141,651|
|Website costs|84,864|**84,864**|72,422|
|Subscriptions|16,880|**16,880**|12,538|
|Repairs and maintenance|10,407|**10,407**|16,327|
|Field team|74,535|**74,535**|91,637|
|General expenses|2,639|**2,639**||
|**TOTAL 2024**|2,180,710|**2,180,710**|1,969,754|
|TOTAL 2023|1,969,754|1,969,754||
Page 27
**LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31 MARCH2024**
## **8. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)**
## **ANALYSIS OF SUPPORT COSTS**
||**Integrated**|||
|---|---|---|---|
||**farm**|**Total**|Total|
||**management**|**funds**|funds|
||**2024**|**2024**|2023|
||£|£|£|
|Depreciation and amortisation|34,040|**34,040**|28,773|
|Premises|17,486|**17,486**|9,823|
|Travel and subsistence|25,253|**25,253**|18,807|
|Hospitality and meeting costs|14,174|**14,174**|7,274|
|Audit and accountancy|36,575|**36,575**|28,773|
|Professional and consultancy fees|74,717|**74,717**|65,416|
|Subscriptions|7,235|**7,235**|5,374|
|Repairs and maintenance|4,460|**4,460**|6,997|
|General expenses|7,345|**7,345**|14,398|
|Bank charges|11,797|**11,797**|6,112|
|Hire purchase interest|536|**536**|47|
|Governance costs|2,278|**2,278**|244|
|(Profit)/loss on disposal on fixed asset|||(11,899)|
|**TOTAL 2024**|235,896|**235,896**|180,139|
|TOTAL 2023|180,139|180,139||
Relevant costs are split between direct and support in a ratio of 70:30 respectively.
## **9. AUDITORS' REMUNERATION**
The auditors' remuneration amounts to an audit fee of £14,750 (2023: £14,050), and accounts preparation and tax compliance services of £1,550 (2023: £1,550).
Page 28
**LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31MARCH 2024**
## **10. STAFF COSTS**
||**Group**|Group|**Charity**|Charity|
|---|---|---|---|---|
||**2024**|2023|**2024**|2023|
||£|£|£|£|
|Wages and salaries|**1,190,884**|1,030,539|**1,190,884**|972,877|
|Social security costs|**127,877**|112,703|**127,877**|112,703|
|Contribution to defined contribution pension|||||
|schemes|**203,018**|161,394|**203,018**|161,394|
||**1,521,779**|1,304,636|**1,521,779**|1,246,974|
The average number of persons employed by the Charity during the year was as follows:
||**Group**|Group
||
|---|---|---|
||**2024**|2023|
||**No.**|No.|
|Employees|**40**|35|
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
||**Group**|Group
||
|---|---|---|
||**2024**|2023|
||**No.**|No.|
|In the band £60,001 - £70,000||2|
|In the band £70,001 - £80,000|**3**||
|In the band £110,001 - £120,000|**1**||
> The key management personnel of the group comprises the Trustees and the Senior Management || Team. The total employee benefits of the key management personnel were £543,432 (2023: £242,300 but with no CEO salary or pension included).
## **11. TRUSTEES' REMUNERATION AND EXPENSES**
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).
> During the year ended 31 March 2024, no expenses were reimbursed or paid directly to any Trustees. r I 7 (2023: £NIL).
Page 29
LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31MARCH2024
## **12. INTANGIBLE ASSETS**
## **GROUP AND CHARITY**
||**Website**|
|---|---|
||**development**|
||£|
|**COST**||
|At 1 April 2023|**119,993**|
|Additions|**73,758**|
|At 31 March 2024|**193,751**|
|**AMORTISATION**||
|At 1 April 2023|**90,634**|
|Charge for the year|**12,268**|
|At 31 March 2024|**102,902**|
|**NET BOOK VALUE**||
|At 31 March 2024|**90,849**|
|At 31 March 2023|29,359|
Page 30
**LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31MARCH 2024**
## **13. TANGIBLE FIXED ASSETS**
## **GROUP AND CHARITY**
||**Long-term**|||
|---|---|---|---|
||**leasehold**|**Furniture**||
||**property**|**and**||
||**improvements**|**equipment**|**Total**|
||£|£|£|
|**COST OR VALUATION**||||
|At 1 April 2023|**50,055**|**184,729**|**234,784**|
|Additions|**7,087**|**10,374**|**17,461**|
|At 31 March 2024|**57,142**|**195,103**|**252,245**|
|**DEPRECIATION**||||
|At 1 April 2023|**22,471**|**151,913**|**174,384**|
|Charge for the year|**3,594**|**18,178**|**21,772**|
|At 31 March 2024|**26,065**|**170,091**|**196,156**|
|**NET BOOK VALUE**||||
|At 31 March 2024|**31,077**|**25,012**|**56,089**|
|At 31 March 2023|27,584|32,816|60,400|
Page 31
**LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31 MARCH2024**
## **14. FIXED ASSET INVESTMENTS**
||**Investments**|
|---|---|
|**CHARITY**|£|
|**COST OR VALUATION**||
|At 1 April 2023|**322**|
|AT 31 MARCH 2024|**322**|
|**NET BOOK VALUE**||
|AT 31 MARCH 2024|**322**|
|AT 31 MARCH 2023|**322**|
Investments held by the Charity include a £1 (2023: £1) investment in the subsidiary company, LEAF Marque Limited. This represents the Trustees' estimate of the market value of this investment. The investment represents the entire share capital of LEAF Marque Limited, a company incorporated in England and Wales. The company was incorporated on 5 June 2002. The principal activity of LEAF Marque Limited is to promote Integrated Farm Management through the use of the LEAF Marque trademark. The activities and results of this company are summarised in Note 5.
## **15. DEBTORS**
||**Group**|Group|**Charity**|Charity|
|---|---|---|---|---|
||**2024**|2023|**2024**|2023|
||£|£|£|£|
|**DUE WITHIN ONE YEAR**|||||
|Trade debtors|**436,183**|234,880|**365,385**|220,806|
|Amounts owed by group undertakings|||**131,225**|130,525|
|Other debtors|**749**|1,134|**749**|1,134|
|Prepayments and accrued income|**621,336**|380,394|**611,719**|355,975|
||**1,058,268**|616,408|**1,109,078**|708,440|
Page 32
**LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31 MARCH2024**
## **16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
||**Group**|Group|**Charity**|Charity|
|---|---|---|---|---|
||**2024**|2023|**2024**|2023|
||£|£|£|£|
|Trade creditors|**125,876**|23,589|**125,797**|23,539|
|Other taxation and social security|**107,427**|50,012|**102,488**|50,007|
|Other creditors|**7,742**|17,101|**7,940**|17,101|
|Accruals and deferred income|**79,575**|101,437|**72,750**|94,937|
||**320,620**|192,139|**308,975**|185,584|
Deferred income comprises grant and other income received in respect of various projects.
Page 33
**LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31MARCH2024** 0
## **17. FINANCIAL INSTRUMENTS**
|**Group**
Group
**Charity**
Charity|
|---|
|**2024**
2023
**2024**
2023
0
0|
|£
**£**
£
**£**|
|**FINANCIAL ASSETS**|
|Financial assets measured at fair value
through income and expenditure
**477,026**
670,779
**409,488**
567,109
] |
0
0|
Financial assets measured at fair value through income and expenditure comprise cash at bank and in hand
## **18. CORPORATION TAX**
The Charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation Chargeable Gains Act 1992 to the extent that these are applied to its | ] charitable objectives.
Page 34
**LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **19. STATEMENT OF FUNDS**
## **STATEMENT OF FUNDS - CURRENT YEAR**
||||||**Balance at**|
|---|---|---|---|---|---|
||**Balance at 1**|||**Transfers**|**31 March**|
||**April 2023**|**Income Expenditure**|**Income Expenditure**|**in/out**|**2024**|
||**£**|**£**|**£**|**£**|**£**|
|**UNRESTRICTED FUNDS**||||||
|**DESIGNATED FUNDS**||||||
|**Designated Funds**|**66,381**||||**66,381**|
|**LEAF Education - Garfield**||||||
|**Weston**||**180,000**|||**180,000**|
|**LEAF - Samworth foundation**||**150,000**|||**150,000**|
||**66,381**|**330,000**|||**396,381**|
|**GENERAL FUNDS**||||||
|**General Funds**|**688,807**|**2,397,337**|**(2,287,780)**|**(17,091)**|**781,273**|
|**TOTAL UNRESTRICTED**||||||
|**FUNDS**|**755,188**|**2,727,337**|**(2,287,780)**|**(17,091)**|**1,177,654**|
|**RESTRICTED FUNDS**||||||
|**EU Horizon 2020**|**61,436**||**(61,436)**|||
|**Chef on the Farm**|**12,769**|**642**|**(246)**||**13,165**|
|**ATF/Cevas**|**38,783**|**14,525**|**(70,399)**|**17,091**||
|**FarmerTime**|**57,689**||**(13,033)**||**44,656**|
|**Countryside classroom**|**110,403**|**14,700**|**(30,389)**||**94,714**|
|**ISEAL**|**6,463**||**(6,463)**|||
|**Beacons of Excellence**|**35,000**||**(35,000)**|||
|**#FarmMyFood**|**8,000**|**2,750**|**(10,750)**|||
|**Co-op Foundation**|**99,397**||**(67,653)**||**31,744**|
||**429,940**|**32,617**|**(295,369)**|**17,091**|**184,279**|
|**TOTAL OF FUNDS**|**1,185,128**|**2,759,954**|**(2,583,149)**||**1,361,933**|
**Page 35**
**LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31MARCH2024**
## **19. STATEMENT OF FUNDS (CONTINUED)**
## **Designated Funds**
Part of the Gift Aid donation from LEAF Marque is reserved to support Technology improvements that will benefit LEAF and LEAF Marque collectively.
## Other designated funds are as follows:
LEAF Education (Garfield Weston) - multi-year grant specifically for LEAF's work on education. LEAF (Samworth Foundation) - multi-year grant specifically for LEAF's work on education.
## Restricted Funds
Chef on the Farm - long established Project self-funded through occasional donations and grants and delivers cookery lessons based around sustainability and introducing children to food provenance and cooking.
FarmerTime - long established project and funds will be granted to another charity who will take on the project in the future.
Countryside classroom - long established web based online platform delivering curriculum linked content for teachers.
Co-Op Foundation - 3 year project with specific outputs related to a Net Zero project.
Page 36
**LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31MARCH2024**
## **19. STATEMENT OF FUNDS (CONTINUED) STATEMENT OF FUNDS- PRIOR YEAR**
|||||Balance at|
|---|---|---|---|---|
||Balance at|||31 March|
||1 April 2022|Income|Expenditure|2023|
||£|£|£|£|
|**UNRESTRICTED FUNDS**|||||
|**DESIGNATED FUNDS**|||||
|Designated Funds|66,381|||66,381|
|**GENERAL FUNDS**|||||
|General Funds|972,336|1,671,206|(1,954,735)|688,807|
|**TOTAL UNRESTRICTED FUNDS**|1,038,717|1,671,206|(1,954,735)|755,188|
|**RESTRICTED FUNDS**|||||
|EU Horizon 2020|51,050|140,553|(130,167)|61,436|
|Chef on the Farm|8,070|11,716|(7,017)|12,769|
|ATF/Cevas|25,042|38,908|(25,167)|38,783|
|FarmerTime|119,144|500|(61,955)|57,689|
|Countryside classroom|70,162|67,275|(27,034)|110,403|
|ISEAL|6,463|||6,463|
|Beacons of Excellence||35,000||35,000|
|#FarmMyFood||8,000||8,000|
|Co-op Foundation||99,397||99,397|
||279,931|401,349|(251,340)|429,940|
|**TOTAL OF FUNDS**|1,318,648|2,072,555|(2,206,075)|1,185,128|
Page 37
LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31MARCH2024
## 20. **SUMMARY** OF FUNDS
## **SUMMARY** OF FUNDS - CURRENT YEAR
||||||Balance at|
|---|---|---|---|---|---|
||Balance at 1|||Transfers|31 March|
||**April 2023**|**Income**|**Expenditure**|**in/out**|**2024**|
||£|£|£|£|£|
|Designated funds|**66,381**|**330,000**|||**396,381**|
|General funds|**688,807**|**2,397,337**|**(2,287,780)**|**(17,091)**|**781,273**|
|Restricted funds|**429,940**|**32,617**|**(295,369)**|**17,091**|**184,279**|
||**1,185,128**|**2,759,954**|**(2,583,149)**||**1,361,933**|
## **SUMMARY OF FUNDS - PRIOR YEAR**
|**SUMMARY OF FUNDS - PRIOR YEAR**|**PRIOR YEAR**||||
|---|---|---|---|---|
|||||Balance at|
||Balance at|||31 March|
||1 April 2022|Income|Expenditure|2023|
||£|£|£|£|
|Designated funds|66,381|||66,381|
|General funds|972,336|1,671,206|(1,954,735)|688,807|
|Restricted funds|279,931|401,349|(251,340)|429,940|
||1,318,648|2,072,555|(2,206,075)|1,185,128|
## **21. ANALYSIS OF NET ASSETS BETWEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT PERIOD**
||**Unrestricted**|**Restricted**|**Total**|
|---|---|---|---|
||**funds**|**funds**|**funds**|
||**2024**|**2024**|**2024**|
||£|£|£|
|Tangible fixed assets|56,089||**56,089**|
|Intangible fixed assets|90,849||**90,849**|
|Fixed asset investments|321||**321**|
|Current assets|1,351,015|184,279|**1,535,294**|
|Creditors due within one year|(320,620)||**(320,620)**|
|**TOTAL**|1,177,654|184,279|**1,361,933**|
## **TOTAL**
Page 38
**LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31 MARCH2024**
## **21. ANALYSIS OF NET ASSETS BETWEEN FUNDS (CONTINUED) ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR PERIOD**
|||Un restricted|Restricted|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||**2023**|**2023**|**2023**|
|||£|£|£|
||Tangible fixed assets|**60,400**||**60,400**|
||Intangible fixed assets|**29,359**||**29,359**|
||Fixed asset investments|**321**||**321**|
||Current assets|**857,247**|**429,940**|**1,287,187**|
||Creditors due within one year|**(192,139)**||**(192,139)**|
||**TOTAL**|755,188|429,940|1,185,128|
||**RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING**||**RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING**||
|**22.**|**ACTIVITIES**||||
||||**Group**|Group|
||||**2024**|2023|
||||£|£|
||Net income/expenditure for the period (as per Statement of Financial||||
||Activities)||**176,805**|(133,520)|
||**ADJUSTMENTS FOR:**||||
||Depreciation charges||**21,772**|25,979|
||Amortisation charges||**12,268**|2,795|
||Investment income||**(6 )**|(23)|
||Interest paid||**536**|47|
||Increase in debtors||**(594,747 )**|(57,213)|
||lncrease/(decrease) in creditors||**281,368**|(175,529)|
||**NET CASH USED IN OPERATING ACTIVITIES**||**(102,004 )**|(337,464)|
|**23.**|**ANALYSIS OF CASH AND CASH EQUIVALENTS**||||
||||**Group**|Group|
||||**2024**|2023|
||||£|£|
||Cash in hand||**477,025**|670,778|
Page 39
**LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE )**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31MARCH 2024**
## **24. ANALYSIS OF CHANGES IN NET DEBT**
||**At 1 April**||**At 31 March**|
|---|---|---|---|
||**2023 Cash flows**|**2023 Cash flows**|**2024**|
||**£**|**£**|**£**|
|Cash at bank and in hand|**670,779**|**(193,753)**|**477,026**|
||**670,779**|**(193,753)**|**477,026**|
## **25. CAPITAL COMMITMENTS**
||**Group**|Group|**Charity**|Charity|
|---|---|---|---|---|
||**2024**|2023|**2024**|2023|
||£|£|£|£|
|**CONTRACTED FOR BUT NOT PROVIDED**|||||
|**IN THESE FINANCIAL STATEMENTS**|||||
|Acquisition of intangible assets|**115,100**||**115,100**||
## **26. PENSION COMMITMENTS**
The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £203,018 (2023: £161,394). As at the year end, the Charity had outstanding pension contributions of £359 (2023: £16,986).
## **27. OPERATING LEASE COMMITMENTS**
At 31 March 2024 the Group and the Charity had commitments to make future minimum lease payments under non-cancellable operating leases as follows:
||**Group**|Group|**Charity**|Charity|
|---|---|---|---|---|
||**2024**|2023|**2024**|2023|
||**£**|£|**£**|£|
|Not later than 1 year|**26,035**|26,035|**26,035**|26,035|
|Later than 1 year and not later than 5 years|**18,468**|44,504|**18,468**|44,504|
||**44,503**|70,539|**44,503**|70,539|
Page 40
**LINKING ENVIRONMENT AND FARMING (A COMPANY LIMITED BY GUARANTEE)**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31MARCH2024**
## **28. RELATED PARTY TRANSACTIONS**
During the year the Charity traded with Haygrove Limited, a company in which A J Davidson is a director. During the year the Charity purchased services of £750 (2023: £NIL). At the year end a balance of £NIL (2023: £NIL) was due to Haygrove Limited.
During the year the Charity traded with Dyson Farming Limited, a company in which P G Wynn is a director. During the year the charity received income of £10,675 (2023: £NIL). At the year end a balance of £NIL) (2023: £NIL) was due to Dyson Farming Limited.
During the year the Charity traded with Waldersley Farm Limited, a company in which C R Porter is a director. The Charity received membership income during the year of £709 (2023: £NIL). At the year end a balance of £NIL(2023: £NIL) was due from Waldersley Farms Limited.
During the year the Charity traded with Seeds to Thrive Limited, a company in which C M Mason is a director. During the year the Charity purchased services of £3,000 (2023: £NIL). At the year end a balance of £NIL (2023: £NIL) was due to Seeds to Thrive Limited.
The charity has taken advantage of the exemptions available under FRS 102 Section 33.1A and has not disclosed transactions with its subsidiary undertaking, LEAF Marque Limited.
Trustees made donations totalling £NIL in the year to 31 March 2024 (2023: £1,000).
Page 41