Charity registration number 1048584 

The Prospects Trust (A Company Limited by Guarantee) 

Annual Report and Financial Statements 

31 March 2022 



|The Prospects Trust||||
|---|---|---|---|
|Charity registration number|1048584|||
|Contents||||
|Reference and Administrative Details|||1|
|Trustees' Report|||2to5|
|Statement ofTrustees' Responsibilities|||6|
|Independent Examiner's Report||:|7|
|Statement of Financial Activities|||8|
|Balance Sheet|||9|
|NotestotheFinancialStatements|||10to18|





## The Prospects Trust 

## Reference and Administrative Details 

||Trustees|Margaret Bending||
|---|---|---|---|
|||Paul Hamer||
|||Richard McMullan (resigned November|2021)|
|'||Jane Kershaw||
|||Margaret Kerry||
|||Andy Feather||
|||Naomi Rowe||
|||Suze Oldfield||
|||Rachel Coquard||
|||Peter Fretwell (appointed March 2022)||
||Principal Office|Snakehall Farm||
|||Swaffham Road||
|||Reach||
|||Cambridge||
|||CB25 0HZ||
||Company Registration Number|3087221||
||Charity Registration Number|1048584|:|
||Bankers|Barclays Bank||
|||58 High Street||
|||Newmarket||
|||CB8 8NH||
||Independent Examiner|Websters Cambridge Limited||
|||10 Wellington Street||
|||Cambridge||
|||CB11HW||



{ 



The Prospects Trust Charity registration number 1048584 Trustees’ Report 

## Annual Report Prospect Trust 1 April 2021 to 31 March 2022 

Administrative Details 

Front Page - reference and administrative details 

. 

Constitution: The Prospects Trust is a charitable company limited by guarantee, registered charity number 1048584 and constituted under a Memorandum & Articles of Association 3 August 1995. 

## Objectives and Activities 

In setting objectives and planning for activities, Trustees have given due consideration to guidance published by the Charity Commission relating to public benefit. The objects of the charity are: 

“To advance the education and promote the relief of persons (Co-workers) who are vulnerable and who may be at risk of social exclusion because of their age, physical or learning disabilities or mental health through the provision of training and work opportunities in agriculture, horticulture and related subjects in the principles of good citizenship so that such persons can develop their physical, mental and spiritual capacities and grow to full maturity as individuals and members of society and improve their conditions of life” 

Our aims for achieving this are: 

1. Core Business: We will continue to create and promote seasonal supported work opportunities linked to skills progression and individual aspirations 

2. Develop Snakehall Farm Site & Facilities: We will make Snakehall Farm the hub and heart of the organisation 

3. Income Generation: We will identify ventures, projects and products that support our core enterprise and provide new opportunities for Co-workers 

4. Nurture Values and Ethos: We will ensure that the values and ethos that guide us are understood, shared and promoted. 

   - The organisational values are recorded on the charity website www.prospectstrust.org.uk 

## Achievements and Performance (April 2021 to March 2022) 

The pandemic continued to provide many challenges for The Trust as we repeatedly adapted our frontline delivery in light of changing guidelines. We built new outdoor zones for Co-workers at Snakehall Farm to reduce group sizes, created “Tilly Tractor (our social media star) Distance” to help with social distancing measures and even built a bespoke piece of software to electronically record progression plans and attendance. 

We continued to adhere to recommended PPE and testing guidelines to ensure our most vulnerable Co-workers stayed safe, we introduced a completely closed site for the first time at Snakehall Farm to reduce transmission rates and built an outdoor canopy at Prospects Trust Unwrapped so customers could enjoy refreshments safely outdoors. 

We have again seen huge changes across our teams, our frontline delivery and our customer base and the continued commitment, adaptability, versatility, ingenuity in the face of adversity and loyalty of all our people has yet again been truly inspiring. 

In addition to the changes we've weathered — some by design, others imposed or reactive— we have continued to provide meaningful and engaging work sessions for our beneficiaries through our social enterprise initiatives. Our social enterprise income was £212,570 during the year which The Trust uses to offset and subsidise social care funding. Our Co-workers continued to be skilfully supported in their working sessions to grow organic crops, create ethical products, maintain gardens, serve coffees and snacks and sell zero waste goods to our loyal customers. We provided 6,050 sessions during the year to 68 individuals, with most of our Co-workers back to their pre-pandemic sessions. 

2 



The Prospects Trust Charity registration number 1048584 Trustees’ Report 

The Trust wishes to thank the Local Authorities and Central Government that supported us financially during the pandemic, both by continuing to fund sessions where Co-workers found it hard to return to placements and for funding staff to self-isolate on full pay. 

During the year we secured grants from Sowerby Foundation — Canopy of Care, our new outdoor canopy at Unwrapped, our Polytunnel Appeal — to re-skin and repair polytunnels on the farm, Seeds of Change — funding Christmas presents for Co-workers, Virgin 02 — to host a thank you event for volunteers and Anton Jurgens — to help increase income at Unwrapped. We also received £19,232 in voluntary donations during the year and while each and every pound is vital to our work, special mention to The PYE Foundation, Mr Steve Elstub, Reach Solar Farm and The Nourse Lodge. 

At Board level we set up a task and finish group to work through the Charity Governance Code, establishing best practices across the organisation. We are also in the process of updating our Articles of Association to reflect a more modern way of operating The Trust. 

We hosted several Corporate Volunteering days at Snakehall Farm, welcomed visiting school groups and opened our gates (and shop doors) to work experience sessions. Our volunteering base has grown over the year and our Boot Camp still operates on Saturdays, ensuring essential farming tasks are accomplished. 

We sadly said goodbye to nine Co-workers over the year who have moved onto new opportunities, training or relocated. Seven staff have left this year, with our first Shop Junior Elliot moving onto paid employment, and some staff moving out of the care sector or taking on bigger roles in social care. One of our Co-managers Tom Cockerton, who joined our team as Garden Team Manager and was instrumental in the establishment of Unwrapped also left to fulfil a long-held ambition as a pastor. As a people focused organisation, saying farewell to our people always brings some sadness but also joy to see them still come back to say hello as they progress in their chosen roles! 

We also said goodbye to Dick McMullan, a Trustee of The Prospects Trust for over 20 years. Dick led The Trust as Chairman for a number of years and in later years as Treasurer, we wish him well in his retirement. 

We gave a massive Prospects Trust spud-up welcome to 16 new Co-worker starters, 14 new staff members and 1 new Trustee. 

Thank you to everyone who helped The Prospects Trust survive and indeed Thrive again this year. 

Future plans for 2022/23 

Developing and investing in our people will continue to be our priority for the year ahead. 

Our main focus will be enhancing our farm site and provision through 2 major projects at Snakehall Farm. Our first project is a new build provision in our heritage Orchard for Co-workers with profound or complex needs requiring specialist 1:1 care support, rooted in our ethos of teaching life skills through horticultural therapy. We aim to use the project as a pre-farm provision, teaching softer workready skills for Co-workers to eventually move on to a Snakehall Farm placement. 

We will also be utilising our Far Field for the first time in 15 years and a creating a conservation area for both the local community and the learning disability community. This project has much longer-term outcomes and will take years to complete, but the vision is a fully accessible nature reserve with a cohort of veteran Co-worker Rangers welcoming local visitors and school groups to learn about nature and conservation. 

Thank you to Education Services, The National Lottery Community Fund, Cambridgeshire Community Foundation, Eric Drummond Mercer Trust and our stalwart grant-givers The PYE Foundation for kick-starting these exciting projects. 

3 



The Prospects Trust Charity registration number 1048584 Trustees’ Report 

As a responsible employer we are keen to steer The Trust towards becoming a Real Living Wage employer, however The Trust recognises this may be a financial challenge in the current economic climate. 

## Financial Review 

At the end of this financial period, 31 March 2022, the income for this year amounted to £707,387 (2021: £726,416) and expenditure amounted to £612,276 (2021: £576,454). 

Financial Reserves Policy: The Trustees agreed a new reserves policy in January 2021. Total reserves agreed at £225,000: of which £175,000 is 3 months costs adversity reserve under Trustee governance to allow continuity during a period of unforeseen difficulty and £50,000 is a flexible reserve to allow a rapid response to new income generating opportunities. 

General reserves this year are £350,573, as shown on the balance sheet on page 8. Three months costs are £148,280 for year to 31 March 2022. 

The Trustees, at the date of approving the report and accounts, will continue to focus on ways to remain true to the purpose of the charity, minimising all charitable expenditure and overseeing an enhanced and robust financial monitoring system. 

The Prospects Trust has no fund or subsidiary undertaking that is materially in deficit. 

## Structure, Governance and Management 

Pay Policy: The Management Committee, is responsible for directing, controlling, running, and operating the Trust, including pay policy. The Trustees (directors) give their time freely and no director received remuneration in the year. Trustees are entitled to claim expenses relating to travel or training fees, but no transactions were made in the year. As a charity run with a collaborative ethos, the Trust has a Co-management structure of five Co-managers who are paid in accordance with their skills and experience as well as the joint responsibility of the daily management of a complex charitable organisation. All staff are paid at the national living wage or above. 

Fundraising Activity: The Trust employs a Strategic Development Manager with fundraising experience and a proven track record in donor and grant management. The Trust adheres to the fundraising principles of The Fundraising Regulator and all grant management is overseen by the Trustee board. The Trust ensures that any fundraising activity is legal, open, honest, and respectful to the donors. During this reporting period The Trust used digital collection methods through Local Giving, Facebook, and in partnership with AVIVA Community Fund - Crowdfunder. There were no complaints made regarding The Trust's fundraising nor breach of the Code of Fundraising conduct. All donor data collected is in line with GDPR and with agreement from the donor. Grant management is adhered to by The Trust with the Co-management responsible for daily compliance and the Trustee Board for strategic review. All grants and donations are spent in accordance with their terms and conditions of offer. Support from grant givers and friends of The Prospects Trust are acknowledged, and where permitted, on our charity communication channels including social media, organisational newsletters, and website as appropriate. 

Recruitment and Appointment of New Trustees: As stated within the Governing Documents, The Trust shall comprise of no more than 10 but no less than 3 serving Trustees (directors). All Trustees are subject to an enhanced DBS check, proof of identity and 2 references. Any new Trustee is invited to attend a Management Committee Meeting before being formally appointed on to the Board of Trustees at the Annual General Meeting or co-opted onto the board at the next Management Committee Meeting. 

## Trustee Governance 

Trustees are expected to engage with and inform themselves about The Prospects Trust to gain an understanding of the organisation in working practice. Trustees must understand all organisational 

4 



The Prospects Trust Charity registration number Trustees’ Report 

1048584 

policies and procedures as well as their legal responsibilities for good governance as an appointed guardian of the charity before undertaking decision making on behalf of the organisation. Trustees will attend the Management Committee Meetings, Annual General Meeting and engage proactively in at least one of the Sub-Committees: Project & Development, Finance, Co-worker Experience and Human Resources. 

The Prospects Trusts has no exemptions from disclosure; and no funds held as custodian Trustee on behalf of others. 

The annual report was approved by the trustees of the charity on 27"4 NJOV and signed on its behalf by: 

Margaret Kerry Chairman 

ore 

5 



## The Prospects Trust Charity registration number 1048584 Statement of Trustees' Responsibilities 

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. 

The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: 

- e select suitable accounting policies and then apply them consistently; 

- e observe the methods and principles in the Charities SORP; 

- e make judgements and estimates that are reasonable and prudent; 

- e state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and 

- e prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. 

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the ~ financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

Approved by the trustees of the charity on a NOV _ and signed on its behalf by: 


**----- Start of picture text -----**<br>
t |<br>Margaret Kerry\ teen i<br>Chairman<br>**----- End of picture text -----**<br>


6 



. 

## The Prospects Trust Independent Examiner's Report to the trustees of The Prospects Trust 

| report on the accounts of the charity for the year ended 31 March 2022 which are set out on pages 8 to 18. 

## Respective responsibilities of trustees and examiner 

The trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity's gross income exceeded £250,000 and | am qualified to undertake the examination by being a qualified member of the Association of Chartered Certified Accountants. 

It is my responsibility to: 

- e examine the accounts under section 145 of the 2011 Act; 

- e to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and 

- e to state whether particular matters have come to my attention. 

## Basis of independent examiner's report 

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the next statement. 

## Independent examiner's statement 

In connection with my examination, no matter has come to my attention: 

- (1) which gives me reasonable cause to believe that in any material respect the requirements: e to keep accounting records in accordance with section 130 of the Charities Act 2011; and 

   - e to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act 

have not been met; or 

- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. 

Gary Eves FCCA Association of Chartered Certified Accountants 

Websters Cambridge Limited A tax, legal and accountancy firm 10 Wellington Street Cambridge CB1 1HW 

17 October 2022 

+ 



## The Prospects Trust 

## Statement of Financial Activities 

for the year ended 31 March 2022 

||Notes|Unrestricted <br>General|funds<br>Designated|Total<br>2022|Total<br>2021|
|---|---|---|---|---|---|
|||£|£|£|£|
|Income and Endowments from:||||||
|Donations and legacies|2|19,293|57,435|76,728|101,915|
|Charitable trading income|3|618,370|-|618,370|559,238|
|Investment income|4|8,490|-|8,490|6,016|
|Covid grants||2,667|-|2,667|49,106|
|Pre regisration VAT||-|-|-|9,921|
|Other||1,132|-|1,132|220|
|Total income||649,952|57,435|707,387|726,416|
|Expenditure on:||||||
|Costs of generating funds||||||
|Raising funds|5|(11,583)|-|(11,583)|(10,251)|
|Charitable activities||||||
|Charitable activities|6|(581,537)|(19,156)|(600,693)|(566,203)|
|Total expenditure||(593,120)|(19,156)|(612,276)|(576,454)|
|Gains/(losses) on disposal of listed investment assets||2,590|-|2,590|-|
|Gains/(losses) on listed investment assets revaluations||(1,713)|-|(1,713)|9,736|
|Net movement in funds||57,709|38,279|95,988|159,698|
|Reconciliation offunds||||||
|Total funds brought forward||292,738|20,958|313,696|153,998|
|Transfers between funds||90|(90)|-|-|
|Totalfundscarriedforward||350,537|59,147|409,684|313,696|



All of the charity's activities derive from continuing operations during the above two periods. 

The funds breakdown for 2021 is shown in note 17. 

8 



Balance Sheet as at 31 March 2022 

## The Prospects Trust Charity registration number 1048584 


**----- Start of picture text -----**<br>
||||||||
|---|---|---|---|---|---|---|
|Notes|2022|2021|
|£|£|
|Fixed|assets|
|Tangible|assets|11|37,417|20,272|
|Listed|investments|12|174,958|36,081|
|212,375|56,353|
|Current|assets|
|Stock|11,499|11,858|
|Other|current|assets|13|22,460|33,360|
|Cash|at bank and|in|hand|14|174,892|234,805|
|208,851|280,023|
|Creditors:|amounts|falling|due|
|within|one year|15|(11,542)|(22,680)|
|Net|current|assets|197,309|257,343|
|Total|assets|less|current|
|liabilities|409,684|313,696|
|Net|assets|409,684|313,696|
|Funds|of the|charity:|
|Unrestricted|funds|16|
|General|350,537|292,738|
|Designated|59,147|20,958|
|Total|funds|409,684|313,696|
|Number|Number|
|Average|number of employees|37|30|

**----- End of picture text -----**<br>


The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit in accordance with section 476 of the Act. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The financial statements on pages 8 to 18 were approved by the trustees, and authorised for issue on (S/(t/27 and signed on their behalf by: 

Naomi Rowe Treasurer 

9 



## The Prospects Trust Notes to the Accounts for the year ended 31 March 2022 

## 1 Accounting policies 

## Statement of compliance 

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. 

## Basis of preparation 

The Prospects Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised as historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. 

## Exemption from preparing a cash flow statement 

The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements. 

## Income and endowments 

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability. 

## Donations and legacies 

Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured. 

## Investment income 

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. 

## Expenditure 

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. 

## Charitable activities 

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be directly allocated to such activities and those costs of an indirect nature necessary to support them. 

10 



## The Prospects Trust Notes to the Accounts for the year ended 31 March 2022 

## Governance costs 

These include the costs attributable to the charity's compliance with constitutional and statutory requirements, including audit, strategic management and trustees' meetings and reimbursed expenses. 

## Tangible fixed assets 

Individual fixed assets costing £100.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. 

## Depreciation and amortisation 

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: 


**----- Start of picture text -----**<br>
|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|Asset class|Depreciation|method|and|rate|
|Plant|and|machinery|10-20%|straight|line|
|Motor|vehicles|25%|straight|line|
|Leasehold|improvements|10%|straight|line|/|100%|in|year|of purchase|

**----- End of picture text -----**<br>


## Investments 

Investments comprise investments in equity instruments which are measured at fair value. Changes in fair value are recognised in profit or loss. 

Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. 

## Fund structure 

Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity. 

## Financial instruments 

Classification 

Financial assets and financial liabilities are recognised when the charity becomes a party ot the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities. 

## Recognition and measurement 

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. 

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. 

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party. 

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires. 

11 



The Prospects Trust Notes to the Accounts for the year ended 31 March 2022 

## Investments 

Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment. 

Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored. 

## Fair value measurement 

||Fair value measurement|Fair value measurement|||||
|---|---|---|---|---|---|---|
||The best evidence of fair value is a quoted price for an identical||asset in|an active market. When quoted prices|||
||are unavailable, the price of a recent transaction for|an identical asset provides evidence of fair value as long as|||||
||there has not beena<br>significant change in economic circumstances ora<br>significant||||lapse of time since the||
||transaction took place. Ifthe market is not active and recent transactions of an identical asset on theirown are not||||||
||a good estimate of fair value, the fairvalue is estimated by using a valuation technique.||||||
|2|Incomefrom donations and legacies|Unrestricted|||Total|Total|
|||General|Designated||2022|2021|
|||£||£|£|£|
||Donations and legacies:||||||
||Donations|19,293||=|19,293|21,461|
||30K for 30 years (inc. Pye Foundation donation)|-||-|-|3,779|
||Innovate & Cultivate|-||=|-|25,000|
||Newmarket Golf Club|B||=|=|3,400|
||Aviva fund|-||-|-|4,359|
||Co-op community fund|-||-|-|1,580|
||SSE grant|-||>|-|7,000|
||Lottery Covid|-||-|-|9,994|
||CCF recovery|-||-|-|10,000|
||Sowerby Foundation|-||10,000|10,000|12,342|
||Anton Jurgens|-||-|-|3,000|
||Virgin O2|-||1,000|1,000|-|
||ICF CCC|-||7,995|7,995|-|
||New Plough Appeal|-||245|245|-|
||Polytunnel Appeal|-||16,145|16,145|S|
||Education Services|-||6,550|6,550|-|
||Seed ofChange|-||400|400|-|
||The National Lottery Community Fund|-||10,000|10,000|-|
||EDMT|-||5,100|5,100|-|
|||19,293||57,435|76,728|101,915|



The total income from donations and legacies was £76,728 (2021 - £101,915) of which £19,293 (2021 - £21,461) was unrestricted general and £57,435 (2021 - £80,454) was designated. 

12 



## The Prospects Trust Notes to the Accounts for the year ended 31 March 2022 

|3|Charitabletrading income|Unrestricted|Unrestricted|Total|Total|
|---|---|---|---|---|---|
|||General|Designated|2022|2021|
|||£|£|£|£|
||Placement fees|282,846|-|282,846|240,197|
||Farm team generated income|45,311|-|45,311|54,083|
||Garden team generated income|26,206|-|26,206|21,429|
||Personal support income|122,954|-|122,954|118,705|
||Unwrapped|141,053|-|141,053|124,824|
|||618,370|-|618,370|§59,238|



The total income from charitable activities was £618,370 (2021 - £559,238) of which £618,370 (2021 - £559,238) was unrestricted general and ENil (2021 - ENil) was designated. 

|4|Investment income|Unrestricted|Unrestricted|Total|Total|
|---|---|---|---|---|---|
|||General|Designated|2022|2021|
|||£|£|£|£|
||Income from investments;|||||
||Dividends|2,503|-|2,503|-|
||Rent received|5,873|-|5,873|5,872|
||Interest receivable and similar income;|||||
||Gross bank interest|114|-|114|144|
|||8,490|-|8,490|6,016|



The total investment income was £8,490 (2021 - £6,016) of which £8,490 (2021 - £6,016) was unrestricted general and ENil (2021 - ENil) was designated. 

|5|Expenditure on raisingfunds|Unrestricted<br>General<br>Designated|Unrestricted<br>General<br>Designated|Total<br>2022|Total<br>2021|
|---|---|---|---|---|---|
|||£|£|£|£|
||Development/fundraising salaries and NIC|11,103|-|11,103|9,973|
||Fundraising costs|480|-|480|278|
|||11,583|-|11,583|10,251|



The total expenditure on raising funds was £11,583 (2021 - £10,251) of which £11,583 (2021 - £10,251) was unrestricted general and ENil (2021 - £Nil) was designated. 

13 



, 

## The Prospects Trust Notes to the Accounts for the year ended 31 March 2022 

|6|Expenditure on charitable activities||Unrestricted<br>General<br>Designated|Unrestricted<br>General<br>Designated|Total<br>2022|Total<br>2021|
|---|---|---|---|---|---|---|
||||£|£|£|£|
||Governance and support costs|T|581,537|19,156|600,693|566,203|
||||581,537|19,156|600,693|566,203|
|7|Analysis ofgovernance and support costs||Unrestricted<br>General<br>Designated||Total<br>2022|Total<br>2021|
||||£|£|£|£|
||Office salaries|8|85,720|-|85,720|95,656|
||Farm team expenses||195,778|-|195,778|109,357|
||Garden team expenses||35,380|-|35,380|32,602|
||Personal support expenses||22,013|-|22,013|71,720|
||Unwrapped||180,830|-|180,830|165,051|
||Bank charges||645|-|645|629|
||Cleaning||4,608|-|4,608|2,398|
||Computer expenses||1,687|-|1,687|1,915|
||Electricity||9,303|-|9,303|7,157|
||Equipment lease||5,777|-|5,777|3,332|
||Health and safety||1,894|-|1,894|5,962|
||Independent examiners fees||2,745|-|2,745|1,656|
||Payroll services||1,400|-|1,400|1,200|
||Postage and printing||314|-|314|961|
||Recruitment and training||6,418|-|6,418|2,702|
||Rent, rates and insurance||13,116|-|13,116|9,767|
||Repairs and maintenance||1,202|“|1,202|1,062|
||Security||238|-|238|414|
||Staff travel and meetings||405|-|405|105|
||Stationery||291|-|291|106|
||Steng expenses||13|-|13|13|
||Subscriptions<br>Sundries||249<br>3,314|-<br>-|249<br>3,314|175<br>589|
||Telephone and internet||1,420|-|1,420|988|
||Depreciation||6,777|-|6,777|6,076|
||Project costs||-|19,156|19,156|44,610|
||||581,537|19,156|600,693|566,203|



The total expenditure on governance and support costs was £600,693 (2021 - £566,203) of which £581,537 (2021 - £489,028) was unrestricted general and £19,156 (2021 - £77,175) was designated. 

14 



## The Prospects Trust Notes to the Accounts 

## for the year ended 31 March 2022 

## 8 Staff costs 

|The average number of staffemployed during the yearwas:|Total|Total|
|---|---|---|
||2022|2021|
|Full time|8|6|
|Part time|29|24|
||37|30|
|Staffcosts included in the financial statements are broken down as:|Total|Total|
||2022|2021|
||£|£|
|Wages and salaries|382,608|334,940|
|Social security costs|19,436|16,446|
|Employer's pension contributions|8,159|6,450|
||410,203|357,836|



No employees receiving employee benefits (excluding employer pension costs) received more than £60,000 in the current year. 

## 9 Trustees remuneration and expenses 

No trustees, nor any person connected with them, have received any remuneration from the charity during the year. 

## 10 Taxation 

The charity is a registered charity and operates on a not for profit basis and therefore is not subject to coporation tax. 

The company registered for VAT on 1 May 2019 and its income from its own generated sales are subject to VAT where appropriate. i 

## 11 Tangible fixed assets 

||Plant and|Motor|Leasehold||
|---|---|---|---|---|
||Machinery|Vehicles|Improvements|Total|
||£|£|£|£|
|Cost|||||
|At1 April 2021|92,081|35,810|142,288|270,179|
|Additions at cost|6,157|-|25,057|31,214|
|Disposals at cost|:|-|:|-|
|At 31 March 2022|98,238|35,810|167,345|301,393|
|Depreciation|||||
|At1 April 2021|71,809|35,810|142,288|249,907|
|Charge for the year|8,649|-|5,420|14,069|
|Eliminated on disposals|-|-|-|-|
|At 31 March 2022|80,458|35,810|147,708|263,976|
|Net book value|||||
|At 1 April 2021|20,272|-|-|20,272|
|At31March2022|17,780|-|19,637|37,417|



15 



The Prospects Trust Notes to the Accounts for the year ended 31 March 2022 

|12|Listed investments|2022|2021|
|---|---|---|---|
|||£|£|
||Listed other shares|174,958|36,081|
||Cash deposits|si|4|
|||174,958|36,081|
|13|Other current assets|2022|2021|
|||£|£|
||Trade debtors|12,088|12,499|
||Other debtors|10,372|20,861|
|||22,460|33,360|
|14|Cash at bank and in hand|2022|2021|
|||£|£|
||Cash at bank and in hand|174,892|234,805|
|||174,892|234,805|
|15|Creditors: amounts falling due within one year|2022|2021|
|||£|£|
||Other creditors|9,187|20,325|
||Accruals|2,355|2,355|
|||11,542|22,680|



16 



## The Prospects Trust Notes to the Accounts for the year ended 31 March 2022 

|16|Funds||||||
|---|---|---|---|---|---|---|
|||Balance at||||Balance at|
|||01/04/2021|Income|Expenditure|Transfers|31/03/2022|
|||£|£|£|£|£|
||Unrestricted general|292,738|649,952|(592,243)|90|350,537|
||Designated:||||||
||Fruitful learning|1,550|-|(310)|-|1,240|
||30K for30 years|7,910|-|(4,182)|-|3,728|
||Leaky dishwasher|677|-|(225)|-|452|
||EDMT Hovel|(2,000)|2,000|-|-|-|
||EDMTUW|(1,000)|1,000|-|-|-|
||EDMT Covid|(2,100)|2,100|-|-|-|
||Lottery Covid|850|-|(212)|-|638|
||Canopy of care|12,071|10,000|(2,386)|(48)|19,637|
||Anton Jurgens<br>Infection control fund CCC|3,000<br>-|-<br>7,995|(2,439)<br>(7,995)|(42)<br>-|519<br>-|
||New plough appeal|-|245|-|-|245|
||Polytunnel appealk|~|16,145|(215)|-|15,930|
||Orchard|-|6,550|-|-|6,550|
||Seeds ofChange|-|400|(400)|-|-|
||Virgin O2|-|1,000|(792)|-|208|
||Where the Wild Things Grown|-|10,000|-|-|10,000|
|||20,958|57,435|(19,156)|(90)|59,147|
||Total funds|313,696|707,387|(611,399)|=|409,684|
|||Balance at||||Balance at|
|||01/04/2020|Income|Expenditure|Transfers|31/03/2021|
|||£|£|£|£|£|
||Unrestricted general|134,925|645,962|(489,543)|1,394|292,738|
||Designated:||||||
||Vehicle|120|-|(120)|a|=|
||Fruitful learning|1,860|-|(310)|-|1,550|
||Vehicle tipper|2,250|-|(2,250)|-|-|
||30K for 30 years|30,580|3,779|(26,425)|(24)|7,910|
||Leakydishwasher|902|-|(225)|-|677|
||Innovate & Cultivate|(16,639)|25,000|(8,361)|-|-|
||EDMT Hovel|-|-|(1,683)|(317)|(2,000)|
||EDMTUW|-|-|(865)|(135)|(1,000)|
||EDMT Covid|-|-|(1,826)|(274)|(2,100)|
||Newmarket GolfClub|-|3,400|(2,943)|(457)|-|
||Aviva fund|-|4,359|(4,346)|(13)|-|
||Co-op community fund|-|1,580|(1,580)|-|-|
||SSE grant||7,000|(7,000)|-|-|
||Lottery Covid|-|9,994|(9,241)|97|850|
||CCF recovery|-|10,000|(10,000)|-|-|
||Canopy of care|-|12,342|-|(271)|12,071|
||Anton Jurgens|z|3,000|=|-|3,000|
|||19,073|80,454|(77,175)|(1,394)|20,958|
||Totalfunds|153,998|726,416|(566,718)|-|313,696|



17 



a 

## The Prospects Trust Notes to the Accounts 

for the year ended 31 March 2022 

## Designated 

The designated funds are raised for these projects and are consolidated in the financial statements. 

## 17 Analysis of net assets between funds 


**----- Start of picture text -----**<br>
Unrestricted<br>General Designated Total<br>£ £ £<br>Fixed assets 186,851 25,524 212,375<br>Current assets 175,228 33,623 208,851<br>Current liabilities (11,542) - (11,542)<br>350,537 59,147 409,684<br>**----- End of picture text -----**<br>


## 18 Related party transactions 

There were no related parties or related party transactions during the year ended 31 March 2022. 

18