Charity wistration number 1048584 The Prospects Trust (A Company Limited by Guarantee) Annual Report and Financial Statements 31 March 2021 Illl 11 *AAIXCN084 12rk021 COMPANIES HOUSE A15 #16 The Prospects Trust Charity reglstration n￿rn￿r Contents 1048584 Releferr￿ and Aworkers and thèir families. ereated shc¥l ffilms so Co-wothers sbll fell part of ihe tearn and delNered Prospeds Parcels, a box lull ol farm and shop wjies. sea%)nal linked Xknvities and infomiatKJn packs. We welcomeLI our Co-worker5 b** to our $ites in August. providing physKal F4acemenls again. muth to the relv&f of our siaff and c￿WO￿er teams who had ¥ery much missed each other. the rouline ol meaninglul k and being aciive. We adopled a t￿bble a￿T00th at Snak*hall Fam. %￿ing in small leams in c￿lOUred zones and redwed the numbw of Cfy*t*kers attendry UnwraFved and the G8rdtrn Team to foifow social distancmg ruks. The accounts also present a slrong finanLial fesun de¥*rtè thè challtngts la￿, ￿lIding on the strong eStablis￿d ftxJNlatws of our fundws and the much-valued ojstomers of our Farm Shop. Garden Team arKI UnwrapFed. ueating a survive lo thme ojlture that everyone connected with. Our f*m, relail and care semces were classed as essential and as we contir￿ed to trade throughoul the year, seeing a huge spike in the number of customers during kKkdowns a$ people shopped local and used ￿Jr delivery scheme at Un￿pped. Thank you also lo our Garden Team customer5 who CKbnlinued lo support us finanually while we were unable to arLess their gardens. A teslamenl to the slrong pubk SUPkKxI ofour charitable g(Ksd work. Tho ProspKts Trust Charity registration Thum￿r Trustees. Report 1048584 The w￿rk frryn I￿rne diredNe severdy impaded our ￿miniStratIve prcv$ses, however staff succeeded rn adaptiNJ pYttesse¥ al￿ S￿leMS se￿￿$$￿. enabling The Trusl to Continue operaliro. We have become almost enkn.rely pa￿r free. tLY)sting our environmentslly fri8ndly impact inacfvertenlly. Trust was also VAT registered dumg Ihe year. ¥¥Tlh ntw systems intrOdU￿d by Finarte Team wilh the support of our acewrtt8rt5 bèir*J a wrtised tuming point forthè Trust. charoe forced (m us by Ctivid-19 became 0Fv)r￿rt￿ arky Ihe Pro5￿$ Trust team rose lo the Ghallenge productively, ￿SK¥UnSi1￿Y and aAlectNefy every time. The Hovel. our 3 Anniversary capital renovatw woiecl was completed lo create a modem breakout spaTr for C workers. we raised funds to Ffovtde a covered oyld(xx seating at Unwrappèd and we suctsssftjlty ¢omplèted the In￿￿e & Culbvats Nq"ect, whith k￿k-started unwrap￿￿. Our Survive to Thrive appeal hdpe(l us build ouldc*)r sheltets for our zones at Snakehall Farni and fvnd addrfwl hartd wa5hry Stalw$ arwj iolets. As an essential servtce. our fwm needed famiTrJ. our CLtslomers needed wowsions and our Co- workers nee(led supportirg. We accesse(l the C¢Xon8￿1uS Job Retention Scheme cL¥)serv8tively dum)g ihe first thkdown and wish to thank the furloughèd Staff for t￿"r understanding and patsence. We woukl also like lo thank the ￿lain￿ staff fry Iheir adaptatylrty and working in Team A and Team B rotas. reducing hèadcounts on gles. reducing transmission risks and ensurin9 that we could all plough on wardless of the global pandem￿. Ow Teams worked kjng hwrs, in full PPE and went Ihe extra acre in ensuring thal the Trusl sto(>J ￿$￿ute in the face mask of COVKI. Demonstratry the ad8ptst4.ity and resilien￿ of Thè Prospects Trust. we init"¢ated a Green Volunleer Boot Camp al Snakehall Fam) for peO￿e t•tho were furfoughed themse￿eS, wh￿h continued w Saturdays as our ￿W￿eT$ relurw*d. toth our sites ate now 6 ￿Y operalions. Thé Management Team of Thè Trust *Tr5hes to aCkr￿vAtdge the hands on SLTrPPOrt provided by the Chairman and the Truslee Board duiing the operalionally challenging brnes of Covid-19. never has the need been greater to have a stralegt dear fcKus. a tKJht grip on governance and a sUp￿t"Ve voi¢è of reason. Our Trustees all s￿SSfUllY moved from a fomial board meeting on site to a MS TEAMS virtual arena of feSpLV)swer￿S$, supporl and guidan￿. meeti frequently to >Jdres5 changirg Ch￿￿ge$ laced by our tharity. The Twstees on thw"r part wish lo thank the Managem*rt Team and all the slaff for their Commitment. adaplabilty. patier￿e and sheer hard work. The team effort was tremendous and was what pulled the Twst through at a time when many smaller charities went under. Everyone involved should be immensely proud of their athievemenl whith rne￿t Ihe Trusi wa5 there for Cfyworters when the time came. Inevilable in times of enforced adaptw we have seen a nurnter o15tsffing C￿ng*S and we said gO￿ab￿ to a few key peopk ovèr the year. Some re-evalu*ed thwr workjlrfe balance and some we were sadly obltgejj lo lel go becavse of COVID regulations. Signffjcanlly. we 3xid goodbye to e of ¢yJr fouThJing Trustees. Steve Elstub. who has fdlowed his dreams to York5hirts. We wish to thank him frjr am that he has ¢Jone for the 31 years and wish him well in his retirement. We wovided support to 54 individual C¢>workers during lockdowi and as an ¢yJldw seNt￿ we saw a nurnbef of new refefrals. As testimony to c*Jr gro￿ aTrJ supportive reach our Co-worker wwrnb¢rs increase(I 10 65 Feopkn at >Ear end. wlh athJth"onal referrals in Ihe pipeline. The cc¥nmibnent, adaplabilty. versakn"lity, ingenuity in the fxe of advergty arKI loyalty of all our people has been tnjty ￿spiT1rs. Thank you to ewY0￿ vhbJ helFed The Prospects Trust survNe and indeed Thme. The Prospects Trq*t Charity registration number Trustees. Report Future Plans and Developments c￿$01￿latIOn 1$ (wji bLttzwtyd for 2021r22 as we strNe to grow ihe impact and lesscfis Seaml during COVICk19, Whi￿ continuing to provtile specialised and meaningfvl wiyk opportunrtie$ for Co-workers. Developing and investsng in people wll rA)nlinuÈ to bè worrty. Wè arè building on the bubbles of CTrworkers. ueatin9 more oprKJrtunths a¢¥os$ our srte$ and proFe¢ts. As Snakehall Fam is ihe heart of our charity. we ￿11 be k)oking at ways lo improve the organic growing, responSi￿e land use developiThJ new seasonal projects and provision for our C 'workers.. We really look forward to openirg up our fam gates tr) School groups. experiènee, cryp￿ volunteering groups atst¢)mws as tt* Cw"&19 parKbÈmic risk level dedines. The Pcospeds Trust Unlwapped will celebrate 2 years of trading in Seplember 2021. Setting up a new venture was a s¥Jntficant devekjpment for The Trust and we are kewng our focus on ensuring this fledgling enlerprise from strerwh 10 Strength, umwapping p)ssibilrties for people with addilrjnal needs vthilè eorbtinuing to build a susta￿lable customer focLtsed ethical business Wh￿ S￿¥¢ase$ tyJr chanty on the H￿hstree1. At management level, we te re-evalualing Ihe maro9Ement Str￿l￿re to d￿¢k0 speckalist rvles in with the rwds of Thè Tntst. At Board level we are fcoJsir¥J m our d￿r[tY governance u>ng the Chartty Govèmance Code lo shape our praclr*s. In line with the WogreS￿Ve nature of the Trust we will be working Wth a Pro- bong legal tearn to upd*e our m*m￿alK1￿m and Articl•s and we will be aclNely seeking to recruit new Trustees In the year ahead. FTrnaneial Rèvièw At the end of Ihis financial pe￿d. 31 March 2021. income for thi5 year amcwnted to £726.416 12020.. £6[b.1￿1} and expewKJiturÈ amounted to t576.45412020." £591,kn1. Flnancial Reserves Polky.. The Trustees ayt eed a new reserves in January 2021. Ttstsl reserves agreed at £225.1￿.. of ¥&hich £175.W) 15 3 Thwth5 CQSts adversrty Teseive and £50.000 1$ a flexible r¢strve uftdtr Tfusteè 9¢)vemance to allow continurty during a period of Unfo￿Seen drfficulty. Genefal reserves ihis year are £292.738, as shrA¥n on the balartt sheet on page 9. Three months costs are £124.820 for year io 31 Mari* 2021. The Trustees, at the ¢Jats of apwoving the rew)rt and accoJnts, will continue to focus Dn ways to remain true to Ihe purpose of the charty. minimising all charitabk exr￿litUrÈ and ov•rseeing an enhar￿ed robLtst financial monit(xiwwJ 5y5tem. Th• Prospects Tfttst has no fund or sub&diary uTr*rtakwwJ thal i5.materialty in defic>t. Structure. Govemance and Ma￿geMent Pay Pollcy: The Management Commiltee. foThned of both Ihe Manage[r￿1 Team Trustees. responsible for directing, controlliNJ, running. and OFeraling the Trust. induding pay polw. The Trustees {directOTsI gNe Iheir twne freety aThJ no direcfor r¢ceNed remuneration in Ihe year. Trustaes art èntrtlÈd tts claim Èxpensts rdating lo travel or tfainiNJ fees, no transactKJns were made the year As a charity run with a ￿lIal￿atIve ethos, the Trust has a C￿manageMent structure of five c￿managerS who are paid in accordanrE wlh Iheir skills and experierKe as well as the joint resp)nsibiliiy of the daily managemenl of a cornplex chariiatAe organisatton. All staff are paid at Ihe living wage w above. Fundraising Activity: Tru51 emr4oyE a Stratw Devekjpment Mana9u ￿1h lundraisin9 experience and a provèn track record in donor and grant managernent. The Trust adheres to the fundrarsing princi￿e$ of The Fundraising Regulator and all grant management 15 overseen by the The Prospects Trust Charlty rggi$tr¥tlon number TN8t••*' R•p¢)rt Twstee L*)ard. The enwres Ihat any kndraw is ￿1. OFen. and respectfvl to Ihe th)nor5. DuriThJ this reF¥Nb"ng The Tntst used dKJital methcds through Local Gmng. F8￿book. and In partnership Wilh AvfvA Community Fund - Crowdfunder. The￿ *£re ￿ c(Nnplain15 rnaje regar(ling The Tw5t's frJndrasiThJ b￿¥h of the Coole of Fundraising ￿nduct AJI don¢y ¢ats o)leded is in hne with GDPR 3ThJ v*th agfeement fr¢)m the donor. Gr￿t manag•n￿l Is &Jhered 10 by Tl* Tru51 the Collrnanagernent responsjtde for dwly compliance and Me Truslee Board for slrategtc rev%w. M grants and doTrations are spent irn accudance temis and con¢Jtt￿5 of offer. Suppxxl frcrn grant gwers and friends of The Prospects Trust are and knthere r*mirtieO. ojr charrty communication channels indudirKJ media. ¢ygan1sai￿naI nv•Aeiieis. as apww*. ReENiknent and Appoirrtmert of H￿¥ Twusttt5." As staled *ilhin the GoveThMng DLtuments. Tts Trust ¢omprise Cpf no rnrye Ihan 10 rKJ less Ihan 3 semng Trustees Iowtorsl. A TDJStees are sutyect to ￿ enhanced D8S cheth. pro)1 of kkntty and 2 refere￿$. Any new Trustee is inmted to attend a m￿agernent Commrt*e Meetyrg tefcKe t*ing fcmally appunted on to the Board of Trustees at the Gwal M*ts"TrJ cf ctscpted crto Ihe board at the next Management Commrttee Meetmg. Trustse Governance: Trustees are exFeded io wgage *ilh ￿ Inf￿rn t￿MSe￿ The Prospeas Tnjst to gain an undwstaThJing of ts organ￿￿0￿ in prxtte. Trustees must UnderS￿nd all organisalKJnal poliaes and prrKAJures a5 well as thew kgal res[xy￿lbllrtles f goLxJ governan￿ a5 an apwnted guardi￿ ol the ch¥ty before undertaing decision making on behav of the ￿ganisat￿)n. Trustees %¥ill attend the Mwagement Commrttee Meetings. Annual General Meetirs and eryage pyoacbvely in at kast one of Ihe SuW)mmiirees". Project 8 DevebJprnw*. Finance, EXp*nen￿ aThJ Human Rèsou￿5. The Pr¢i%)ects Tiusts h35 exer￿pt￿￿ frrffl d￿L*￿￿e. a￿1 no tur¥JF hBld a5 CJJ5tothn on behalf of othern. So fvJo4 IOZ I The annual re￿rt was apprry& by tnffjte*s of Charity w 21 1 and signeLI on its behalf by". marga￿ Kewry Chainnart Th• Prospècts Trust Charlty r¢glstratJon ntsmber Statgment of T￿￿t￿5. Responslbiliti 1048584 The trustees are resrAx%trAe kn preparwwJ Ihe 11￿. the fwroal statements ' accordance w#h the Uniled Ki￿d0M A¢>xunlry Standafds {UntsJ Kiry￿7 GeneTa*y Accepled Accounting Pvactice) and aprluble law and wulabons. The law applcabk io charities requires Ihe Iwstees to finantial statements for each finanual year whith give a and fair view of ts #ate of atsrs gf Ihe chwity of the incomiThJ resource5 and aptAKabon of resour￿ ot the thwity hy ihat perthyj. kn preparirg these finanryal statements. the trustees a￿ fequired to.. seknt suilat4e accoU￿n9 Fth"es and then aFWylhem th￿St￿.. observe the melk￿5 prirK4Fles in ￿ Chatibes SORP.. make juilgements and estimates that are reasonable and W￿Jent. state whether apF4icabJe ac£ountirvJ $tandards have been folbwed. subiect to any matertal departures discbjsed and expla'ned in the frnanaal stalements: and prepare the ffnarKial statemert5 ￿ the wng ccrfwn basis Unl￿ it is wpproprote to presume that ts chanty in tW9"r*ss. The tnotees are reS￿nSIble for keeping woper ac£ounb"ng reeords thal ¢ths¢h)se v*itr) reasonèbk accuracy at any b.me Ihe fina[￿￿1 posit*Jn of the tharrfy and enaL4e them to ensure that the finanoal state￿nIS cornpty Ihe CharrtEs Act 2011. the appl￿ble Charit*B IAc4>)unl$ and Rewrtsl Regulations. and Ihe pro¥rs#Jns ol rx)nstiiutsrJn. The trustees are also ￿$[KIn$l¥le fo safeguardiFyJ the assets of the charity and for t8kiThJ reason8ble step$ lor weventM)n and dEtection of fra1￿￿ a￿1 oltw Irreg￿8￿beS. 3 o Zgzi Approved by the trustees oflhe tharty on 21 1 and si9ned on ts I)eh￿r by". Mar9wet Kerry Chaim The Prospects Trust Independent Examineeg Report lo the trustees of The Prospects Trust I reF*Nt on the acwjnts of the (*wity for Ihe year ended 31 Marth 2021 whth S￿ set out on page$ 8 to 18. R￿peCti￿ responsibilit￿* of trustee5 and •xaminer The trustees are responsitAe the preparalion of the accounts. The Iru5tees consider ihal an audit is not required for this year undef s8th.on 14412} of the Chanties Act 2011 Ithe 2011 Act) and ihat an independerrt examination is needed. The charitys gross inojme exceeded £250.OLM) and I am qualified to undertakè the examin8lion by being a qualthed member of Ihe Asso¢iation of Chartered Certified Accountants. It is my responsikn.lrty to". examine the accounts uTrJer sec11￿ 145 of the 2011 Act.. to follow the Pr￿d￿reS laid down in the general Directions gr¥en by the Ch￿ty Commission under section 145{51(b) of the 2011 kl.. and . to sl* wh&ttsr parti¢ular matters have ¢¢ffie to my attenti¢￿. Basls of independent examin•rfs report My examination was cafried out in accordance with the general Directions given by the Charity Commission. An examinakn indudes a re¥￿ of the 3eLounting records kept by the char¥ty and a comparison of the arLounts presented ￿th those records. h also indudes consideratK)n of any unusual items or tjisdosures in the ac¢wn15. and seeking expLanats"on$ from you as trustees concerning any such matters. The wocedures undertaken do not provide all the evidence that wouhd be required in an audit and C¥)nsequenYy no opinim is 9i¥en as to whether the accounts present a'true and fair and the report is limrted to those matters set out in the next statement. 11)d￿end¢Tht oxaminges slatsm¢n¢ In conne￿1￿) with my examination. r*) matter has cryne to my altent￿n.. 11} which give5 me reasonable cause to ￿lIeVe that in any material resW the ￿uIreMe1￿'. to keep a¢cwnb"ng rwtjs in ac£ordan¢e wrth se¢b"on 130 of the chari￿s Act 2011.. and to prepare accounts which accord wth the accountM)g records and comply Nhith the a¢counting requirements of the 2011 Act have not been met., or 121 to which, in my opirM¢)n, attenlion slw)uld be drawn in ryder to enatAe a proper understanding of the accourts to be r&iched. Gary ves FCCA Aswciation of Chartered ¢e￿ffied AC￿ntrnts Websters Carnbridge Limite(I A tax, legal and accountancy ffimi 10 Wellington Street C¥mbrid9e CB1 1HW 21 Odcèer 2021 Stat•mant of Fln*nÈlaJ Aetivli th• y••r•n¢lgd 31 2021 T4ts1 Trtol In¢offle and EndoMnI￿￿v￿. O¢nabsp•cts Tnmt Notss to the Accounts for the y￿r •nded 31 ￿1¢h 2021 Tolal Total Placemertfees F8rn1 team generaied G4tden team Personal 5UPPQrt Irvwale & ¢￿￿"¥at¢ 240.197 240.197 54.083 21.429 118.705 124.824 J3.952 40.537 48.487 116.674 79.573 21.429 118.705 124,824 559238 The ioial i1￿orne frrff r￿￿ a¢li￿e5 *7s £559238 (2020. £519.2U £559238 {2020. £519.2231 *&S UN8SlriCted 98wal arnl £NIl (W20- £P4lw*s des¥naled. 4 In¥•sth*N In¢￿￿• Totsl 2021 Totsi l>••lgn•l•d Intome from invesbnerts." Rent reL*ib*d 5.872 S,073 Gr05s b￿k inierpst 144 144 270 6.143 The lalal investrnent income was £6.018 I2￿20. £6.143} £6.01612020. £6.143Iw•s wY051rid•d gon￿1 •n¥ £N￿(2D20- £Nif) was deligrba￿. $ Exp•ndltw• on ￿[￿9 fLMNI T•l•l fotsl 2020 8.9n 2n 9.973 278 Fun¢fvabsin9 C￿15 1.524 The lo¢al expenditur¢ on i*s*YJ fLMbJs *$ £10251 12020 - £11.(fjOI of £10.251 (2020 - £11.¢601 was unre5trthd ger*i arnl ENII 12020. £NI) was des*jr￿tsd. 13 The Pro#wts Tnrtt Nots8 to the Accounts for the y•ar ondod 31 March 2021 8 Éxpgnll￿I4 ¢Jn a¢¢lvlU•s Tot•1 Tot•1 489.028 489 028 n.175 77.175 se6.203 566.203 580.245 580.245 Toial 2020 2021 15.624 >5.656 109.357 87.121 116.122 60.996 94.715 142.687 Farm team eXpEr￿ Gardgn leoffl ¢xptr6es Pers¢m31 surwteyr¢¢s 109.357 71.T20 148.110 71.720 165.051 629 16.941 B•rth cho a¢aning Computerexpvb¢s E￿ctnElty EqL¥PmWt le45 amh and Safety I￿epend￿nt ts•s P•yroll seNces Poslage aTrJ wntiny Reowitment and trarr R•nl. ral¢s and ir¢awanEe Repair5 and ma1ntenar 4.￿7 1.860 2.497 2.131 1.915 7.157 3.332 1.915 7.157 5.962 1.6S6 1200 2.394 1.207 2.702 9.767 1.rA2 9.767 12.139 65 105 105 355 Steng exwn Subwpl nd Telep￿e aro intw tknprerA*in Pmje¢t Costs 13 175 13 175 5B9 3.029 971 18.685 24.604 6.076 44.610 44.610 71.17S 580.245 The govemanre arKI supFoM Costs £￿.203(2D20. £580.2451 of É489.02812020 - £49S.4301T￿￿S unrEstriL%ed ger*ral and £n.17512020. £83.8151 w8sdewwate¢J. 14 The PYo8pects Trnst Note8 to the Accounts for th• ￿r•nd*d 31 Ma￿h 2021 Staff T1￿1 Toial Full tim& Parf Iwne 24 31 T￿1 wa￿ arKI s¥•￿5 Soual secunty costs 347.867 19.444 8,473 16.446 6.450 ￿ar. year. 10 T*A•titin The company register*1 for VAT M 1 M8y2019 ar￿ from gewled $*6 •rE wty"Étt to VAT r¥ 4pprowab. 11 Tanglblo flA8d aSf•ts L•M•hokl IA•chlrh•ry A11W2020 Additsorts al r•5t Al 31 Klarch 2W21 83.857 8.224 92.081 35.810 112.778 29.510 142.288 tJ2.445 37.734 270.179 35.B10 D¢pr•¢ At 1 Ap￿ 2020 (Jarye frythe year At 31 Marth 2021 63.922 7.887 71.809 112.778 29.510 142.288 210.260 39.647 249.907 2.250 35.810 itst boo* valu• At 1 Aprd 2020 At 31 2021 19.935 20.272 22x1 22.165 20.272 1$ Th• Pvospects Tfust Motr¥ to the Aceounl• forthe y•av•nded 31 Ma￿h 2021 36.081 36.081 26.345 26.345 2020 Tiade debtors {￿her debtors 12.49 20.061 3.247 775 14 G••h attrank and kn h* 2020 Cash ai tsa￿ haThJ 234.805 100.395 1S cl•d*￿.. •Twnls fallk4 du•Twlthln or* yw X+20 otherrreditprs Acuu4L 20.325 2.355 10.847 16 Th• Pro•p•¢ts Tntyt Not•s to th• A¢¢ounts for th• y••r•nd•d 31 Ilar¢h 2021 16 B*l•n¢• •t Bal•r+e• at Trn*Af•rn 3110312021 489.Y3 292.738 Vehide Fruitful *arri VehKJe ts"Fver 30K for 30 years Leaky dL5FtAty5her Inwale & Cul¥¥8le EDMT Pkn%*l EDK4T UW EtWT Cow 120 11201 13101 12.2501 126.4251 P251 (8.2611 11.6831 1,550 2.250 P41 7,910 677 116.639) 1317) 1135) 12741 1457) 12,CW) 11.8261 12.9431 14.3461 11.S80) 17,fyX)I 19.2411 110.iIXJI 12.1N)I A¥N8 f¢JThJ Cmp commrt* luryj SSE granl Lottery Co CCF reco¥*ry Carnpy olcare •i Jvryens 4.359 fr7 10.t 12.342 (2711 12.071 19.on 80.454 7.175) 11.3941 20.958 Toial ￿ndS 5e6.718 B•l••e• a¢ 01K4r2019 801on¢• al Exp•rn111W• Tr•r*f•rn 31h)J12020 I11￿32 532.324 511.145 2.114 134.925 Js shetter donati￿ Peop￿$ milthi 11.188 4.541 3.314 (9.3461 14.4211 11.4541 11.8421 120 Fmitrul k8rrrfng M8moTr v*a• Vehide ￿pper 30K for 30 years Spn"ThJ a leak Cfrwothers ied¢ty be¥ pw Sn•kehal Boot ro( Leaky disfwtssher Inrnvèie & Cu￿.¥8 Grw vc4un 122501 451 13WI 2.25 S631 2.285 334 13341 11.(KK)I 13.3151 251 {592111 112541 12.2851 33 42.572 {16.6391 63 31.138 {83.815) 12.1141 19.073 Toial firts 142.768 17 Th• Pvo#pe¢ts Tiu•t Not•¥ to th• A¢eounts forth• y•ar •nd•d 31 *r¢h 21121 t>•swJn•W Totsl F￿0 assets Cuffent assèts CurTer* ha￿.￿1￿$ I9.￿1 265.917 22.6KI 292.738 6.852 56.353 280.023 313.696 18 R•lat•d party u•n8•¢110 18