2023-03-31-accounts - The Prospects Trust

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Charity registration number

1048584

The Prospects Trust (A Company Limited by Guarantee)

Annual Report and Financial Statements

31 March 2023

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
	Jane Kershaw
	Margaret Kerry
	Andy Feather
	Naomi Rowe
	Suze Oldfield
	Rachel Coquard
	Peter Fretwell
Principal Office	Snakehall Farm
	Swaffham Road
	Reach
	Cambridge
	CB25 OHZ
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

Annual Report Prospect Trust 1 April 2022 to 31 March 2023

Constitution: The Prospects Trust is a charitable company limited by guarantee, registered charity number 1048584, constituted under a Memorandum & Articles of Association 3 August 1995 and updated 20" of October 2022.

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:

Core Business: We will continue to create and promote seasonal supported work opportunities linked to skills progression and individual aspirations
Develop Snakehall Farm Site & Facilities: We will make Snakehall Farm the hub and heart of the organisation
Income Generation: We will identify ventures, projects and products that support our core enterprise and provide new opportunities for Co-workers
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 2022 to March 2023)

We survived the pandemic! Not only survived, but thanks to our remarkable team of Co-workers, staff, volunteers, Trustees and supporters, we thrived. The Trust has adapted many times along the way and has now embedded the positive changes into new ways of working. IN are smaller working groups of Co-workers enabling staff to provide more specialised support. IN is an online bespoke CRM created to capture Co-worker achievements. IN is an administrative system fit for the 21* century using cloud systems, a paperless office and capacity to work from home. IN is a dedicated full-time Co-worker Manager to advocate for Co-workers at all levels inside and outside The Trust. IN is the appointment of Maz Baker as Executive Director, creating a leader role for the first time to replace the Co-management style of working.

This year we are very proud to have been recognised both locally and nationally for our work. In April, The Trust won the national Markel 3rd Section Care Award as a fabulous example of Community Engagement and the High Sheriff of Cambridgeshire presented our Co-workers and staff with team Achievement Awards. In September the whole team at Unwrapped scooped the Smiliest Server of the Year in The Ely Heroes Awards and we were also shortlisted for the BBC Radio Cambridgeshire’s Make A Difference Award and finally, in March our Chairman, Margaret Kerry, was the winner of the Markel 3rd Section Care Leadership Award. These awards are vital not only for the confidence boost and great PR they generate, but also by opening doors for other opportunities - Markel chose The Trust for their group volunteering days and Ely Heroes chose The Trust as their charity of the year for 2023. Thank you to all who nominated and voted for us.

We continued to promote and showcase the abilities of our Co-workers in the community. Our philosophy that anyone can do anything with the right support still runs through everything we do and our Co-workers sold our organic produce to the public at market stalls, made cappuccinos in our Ely shop and tended customers’ gardens throughout the year. We worked alongside Co-workers to bake cakes, sow, tend and harvest organic produce, cut hedges, create social media posts and make doorstep toasties to name but a few of the amazing achievements of our Co-workers. We continue to think differently and work around the barriers our Co-workers face to promote their independence in our inclusive workplaces; from building raised beds that fit wheelchairs underneath to installing a till scanner for those that find technology tricky to read.

Our social enterprises continue to blossom and provide us with both an outlet to provide meaningful work-based opportunities and subsidise social care fees. We generated £203,387 in social enterprise income during the year and provided 6,800 meaningful sessions to 80 individuals across our teams.

At Board level we completed the Governance Code, ensuring our systems and procedures are fit for purpose and robust. We updated our Articles of Association thanks to Withers Worldwide and our Finance and HR Sub Committees have worked together to review our pay structure and realise our ambition of becoming a Real Living Wage Employer, creating a 5-year financial forecast to predict affordability over time. As a result of this Trustees took the decision to subsidise higher salaries from reserves for a maximum of three years.

Operationally, we strengthened our staff training structures and hosted whole team meetings. We circulated our bi-annual Have Your Say survey to Co-workers, who overwhelmingly responded positively, and Co-workers feel safe, confident and listened to at The Trust. As ever, weeding came out as the job everyone dislikes and stocking the shop as the one people most like. Our new Office based placement has been busy engaging more social media followers and creating monthly supporters newsletters. We staged the spookiest Spooky Snakehall yet raising over £2,000 scaring people silly in the dark. We hosted multiple Corporate Volunteering days at Snakehall Farm, welcomed visiting school groups and opened our gates and shop doors to work experience sessions.

We secured grants from John Lewis, Reach Solar Farm and the Crowdfunder platform to create a community conservation area in our Far Field, Astra Zenica to improve Co-worker and customer experiences at Unwrapped, PYE Foundation, Bernard Sunley and Cambridgeshire Community Foundation to create our specialised support zone at our heritage Orchard, Eric Dr'ummond Mercer Trust for kitting out our Orchard zone and The National Lottery Community Fund for providing core revenue funding for the Orchard zone. We also secured grant funding from Global Make Some Noise to support the development of our Enterprise Kitchen. Cambridge & Peterborough Foundation Trust helped us host our annual Harvest Home at Snakehall Farm. Thank you too to generous donations from the family of Mrs Folkes, the Rock Allotment Society, East Anglia Benevolent Freemasons, Reach Church, Persimmon Charitable Foundation and the Ely Hockey Club. Helping with the rising and unpredictable energy costs this winter, we thank our charity donor Michael Watt by supporting our electricity bill.

Over the year we said farewells to 7 staff members and 6 Co-workers moving on to new challenges and opportunities, however the growth continued as we welcomed 16 regular staff members, 15 Coworkers and 1 Trustee to the Prospects Trust team.

A big thank you, a massive Farm spud-up and a beaming Unwrapped smile to those that supported us throughout the year in donations, choosing us as their charity to fundraise for, giving their time, advice and support and of course to our wonderful customers for choosing to buy ethically and locally.

Future plans for 2023/24

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

Our people focus will ensuring our Co-worker's voices are heard, listened to and actively shape our provision. We will appoint a Co-worker representative from our Co-worker team and support them to meet their peers across all our teams to bring new ideas to our Trustee-led Co-worker Experience Sub Committee.

Our project focus will continue to be the Far Field re-wilding and conservation project which will involve the local community as well as the learning disability community. Where the Wild Things will Grow is an exciting development which will take many years to fully realise but over the next 12 months the basic layout of our nature reserves will take shape, engaging the support of corporate volunteers, regular community volunteers and of course our Prospects People (Co-workers, staff, trustees) in all of the nature action required.

Our strategic focus will be long term financial sustainability. Our Finance Sub-Committee will be closely monitoring our 5-year financial cashflow to help us pro-actively plan for any shortfall in our cashflow.

We have partnered with a host of local charities and organisations and will be working with Cambridgeshire County Council to address the inequality between historical fees and current rates for providing social care support. We will continue to advocate for an across-the-board rate that is fair to Co-workers and pays fairly for quality social care provision.

Financial Review

At the end ofthis[financial][period,] 31 March[2023,][the] income[for][this] year amounted[to] £758,966 (2022 : £707,387) and expenditure amounted to £749,891 (2022 : £612,276). After taking account of a loss in value of investments the overall surplus was £643.

Financial Reserves Policy: 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 £372,365, as shown on the balance sheet on page 9. Three months costs are £187,473 for year to 31 March 2022. Because of the overall strength of reserves Trustees took the decision to draw on reserves over the next three years to support the payment of the national living wage or above for all staff.

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, formed of both the Management Team and Trustees, is responsible for directing, controlling, running, and operating the Trust, including pay policy. Certain decisions e.g. staffing structure, pay rates or appointment of Executive Director are reserved to

Trustees. The respective responsibilities of Trustees and Managers are set out in the Scheme of Delegation.

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. The Trust has an Executive Director and Senior Management Team 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 an Executive Director 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 policies and procedures as well as their legal responsibilities for good governance as an appointed guardian ofthe[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 behalf by:

and signed on its

Margaret Kerry Chairman

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

and signed on its behalf by:

Margaret Kerry Chairman

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 2023 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:

© 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

The Prospects Trust

Statement of Financial Activities

for the year ended 31 March 2023

	Notes	Unrestricted General	funds Designated	Total 2023	Total 2022
		£	£	£	£
Income and Endowments from:
Donations and legacies	2	30,323	71,083	101,406	76,728
Charitable trading income	3	645,168	-	645,168	618,370
Investment income	4	11,246	-	11,246	8,490
Covid grants		=	=	-	2,667
Other		1,146	-	1,146	1,132
Total income		687,883	71,083	758,966	707,387
Expenditure on:
Costs ofgenerating funds
Raising funds	5	(16,187)	“	(16,187)	(11,583)
Charitable activities
Charitable activities	6	(635,109)	(98,595)	(733,704)	(600,693)
Total expenditure		(651,296)	(98,595)	(749,891)	(612,276)
Gains/(losses) on disposal of listed investment assets		-	-	-	2,590
Gains/(losses) on listed investment assets revaluations		(8,432)	-	(8,432)	(1,713)
Netmovement in funds		28,155	(27,512)	643	95,988
Reconciliation offunds
Total funds brought forward		350,537	59,147	409,684	313,696
Transfers between funds		(6,327)	6,327	-	-
Totalfundscarriedforward		372,365	37,962	410,327	409,684

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

The funds breakdown for 2022 is shown in note 17.

The Prospects Trust Charity registration number 1048584 Balance Sheet

as at 31 March 2023

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |Notes|2023|2022| |£|£| |Fixed|assets| |Tangible|assets|11|28,683|37,417| |Listed|investments|12|166,526|174,958| |195,209|212,375| |Current|assets| |Stock|13,935|11,499| |Other|current|assets|13|18,923|22,460| |Cash|at|bank|and|in|hand|14|195,419|174,892| |228,277|208,851| |Creditors:|amounts|falling|due| |within|one|year|15|(13,159)|(11,542)| |Net|current|assets|215,118|197,309| |Total|assets|less|current| |liabilities|410,327|409,684| |Net|assets|410,327|409,684| |Funds|of the|charity:| |Unrestricted|funds|16| |General|372,365|350,537| |Designated|37,962|59,147| |Total|funds|410,327|409,684| |Number|Number| |Average|number|of employees|37|30|

----- End of picture text -----

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 and signed on their behalf by:

er Naomi Rowe Treasurer

The Prospects Trust Notes to the Accounts for the year ended 31 March 2023

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.

The Prospects Trust Notes to the Accounts for the year ended 31 March 2023

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 -----
||||||||||| |---|---|---|---|---|---|---|---|---|---| |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 -----

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.

The Prospects Trust Notes to the Accounts for the year ended 31 March 2023

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

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 been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

Income from donations and legacies	Income from donations and legacies	Income from donations and legacies	Unrestricted	Unrestricted	Total	Total
			General	Designated	2023	2022
			£	£	£	£
Donations and legacies:
Donations			30,323	-	30,323	19,293
CPFT Wellbeing			-	350	350	-
Far Field project			-	8,615	8,615	-
Global Make Some	Noise		-	35,000	35,000	-
Greening The Kerb			-	437	437	-
Orchard Capital			-	12,494	12,494	-
Orchard Operation	—	:	=	10,000	10,000	-
Tractor Aid			-	1,049	1,049	-
AZ Unwrapped		;	-	3,000	3,000	-
Sowerby Foundation			3	=	=	10,000
Virgin O2			-	-	-	1,000
ICF CCC			-	-	-	7,995
New Plough Appeal			-	=	-	245
Polytunnel Appeal			>	138	138	16,145
Education Services			-	-	-	6,550
Seed ofChange			-	-	-	400
The National Lottery		Community Fund	-	-	-	10,000
EDMT			-	-	-	5,100
			30,323	71,083	101,406	76,728

The total income from donations and legacies was £101,406 (2022 - £76,728) of which £30,323 (2022 - £19,293) was unrestricted general and £71,083 (2022 - £57,435) was designated.

The Prospects Trust Notes to the Accounts for the year ended 31 March 2023

Charitable trading income	Unrestricted General Designated	Unrestricted General Designated	Total 2023	Total 2022
	£	£	£	£
Placement fees	308,975	-	308,975	282,846
Farm team generated income	39,781	-	39,781	45,311
Garden team generated income	25,529	-	25,529	26,206
Personal support income	132,297	-	132,297	122,954
Unwrapped	138,586	-	138,586	141,053
	645,168	-	645,168	618,370

The total income from charitable activities was £645,168 (2022 - £618,370) of which £645,168 (2022 - £618,370) was unrestricted general and ENil (2022 - ENil) was designated.

Investment income	Unrestricted	Unrestricted	Total	Total
	General	Designated	2023	2022
	£	£	£	£
Income from investments;
Dividends	5,084	-	5,084	2,503
Rent received	5,873	-	5,873	5,873
Interest receivable and similar income;
Gross bank interest	289	:	289	114
	11,246	-	11,246	8,490

The total investment income was £11,246 (2022 - £8,490) of which £11,246 (2022 - £8,490) was unrestricted general and £Nil (2022 - £Nil) was designated.

Expenditure on raising funds	Unrestricted General Designated	Unrestricted General Designated	Total 2023	Total 2022
	£	£	£	£
Development/fundraising salaries and NIC	15,762	-	15,762	11,103
Fundraising costs	425	-	425	480
	16,187	-	16,187	11,583

The total expenditure on raising funds was £16,187 (2022 - £11,583) of which £16,187 (2022 - £11,583) was unrestricted general and £Nil (2022 - ENil) was designated.

The Prospects Trust

Notes to the Accounts

for the year ended 31 March 2023

6	Expenditure on charitable activities		Unrestricted General Designated	Unrestricted General Designated	Total 2023	Total 2022
			£	£	£	£
	Governance and support costs	7	635,109	98,595	733,704	600,693
			635,109	98,595	733,704	600,693
7	Analysis ofgovernance and supportcosts		Unrestricted General Designated		Total 2023	Total 2022
			£	£	£	£
	Office salaries	8	89,342	-	89,342	85,720
	Farm team expenses		265,915	-	265,915	195,778
	Garden team expenses		42,921	-	42,921	35,380
	Personal support expenses		-	-	-	22,013
	Unwrapped		176,087	-	176,087	180,830
	Bank charges		707	-	707	645
	Cleaning		4,526	-	4,526	4,608
	Computer expenses		1,927	-	1,927	1,687
	Electricity		8,956	-	8,956	9,303
	Equipment lease		6,030	-	6,030	5,777
	Health and safety		2,302	-	2,302	1,894
	Independent examiners fees		2,350	-	2,350	2,745
	Payroll services		1,200	-	1,200	1,400
	Postage and printing		728	-	728	314
	Recruitment and training		4,199	-	4,199	6,418
	Rent, rates and insurance		13,096	-	13,096	13,116
	Repairs and maintenance		520	-	520	1,202
	Security Staff travel and meetings		583 314	- -	583 314	238 405
	Stationery		456	-	456	291
	Steng expenses		13	-	13	13
	Subscriptions		249	-	249	249
	Sundries		4,118	-	4,118	3,314
	Telephone and internet		1,887	-	1,887	1,420
	Depreciation		6,683	-	6,683	6,777
	Project costs		-	98,595	98,595	19,156
			635,109	98,595	733,704	600,693

The total expenditure on governance and support costs was £733,704 (2022 - £600,693) of which £635,109 (2022 - £581,537) was unrestricted general and £98,595 (2022 - £19,156) was designated.

The Prospects Trust Notes to the Accounts for the year ended 31 March 2023

8 Staff costs

The average number of staffemployed during the yearwas:	Total	Total
	2023	2022
Full time	7	8
Part time	38	29
	45	a7
Staffcosts included in the financial statements are broken down as:	Total	Total
	2023	2022
	£	£
Wages and salaries	453,367	382,608
Social security costs	23,804	19,436
Employer's pension contributions	8,733	8,159
	485,904	410,203

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.

11 Tangible fixed assets

	Plantand	Motor	Leasehold
	Machinery	Vehicles	Improvements	Total
	£	£	£	£
Cost
At1 April 2022	98,238	35,810	167,345	301,393
Additions at cost	2,004	-	39,709	41,713
Disposals at cost	=	=	-	-
At 31 March 2023	100,242	35,810	207,054	343,106
Depreciation
At 1 April 2022	80,458	35,810	147,708	263,976
Charge forthe year	8,556	-	41,891	50,447
Eliminated on disposals	-	-	-	-
At 31 March 2023	89,014	35,810	189,599	314,423
Net book value
At 1 April 2022	17,780	-	19,637	37,417
At31March2023	11,228	-	17,455	28,683

The Prospects Trust Notes to the Accounts for the year ended 31 March 2023

12	Listed investments	2023	2022
		£	£
	Listed other shares	166,526	174,958
	Cash deposits	-	-
		166,526	174,958
13	Other current assets	2023	2022
		£	£
	Trade debtors	18,539	12,088
	Other debtors	384	10,372
		18,923	22,460
14	Cash at bank and in hand	2023	2022
		-£	£
	Cash at bank and in hand	195,419	174,892
		195,419	174,892
15	Creditors: amounts falling due within one year	2023	2022
		£	£
	Other creditors	11,104	9,187
	Accruals	2,055	2,355
		13,159	11,542

Notes to the Accounts for the year ended 31 March 2023

The Prospects Trust

16 Funds

Funds
	Balance at				Balance at
	01/04/2022	Income	Expenditure	Transfers	31/03/2023
	£	£	£	£	£
Unrestricted general	350,537	687,883	(659,728)	(6,327)	372,365
Designated:
Fruitful learning	1,240	-	(310)	-	930
30K for 30 years	3,728	-	(2,467)	626	1,887
Leaky dishwasher	452	-	(225)	-	227
Lottery Covid	638	-	(212)	-	426
Canopy of care	19,637	-	(2,182)	-	17,455
Anton Jurgens	519	-	(130)	-	389
New plough appeal	245	-	-	(245)	-
Polytunnel appeal	15,930	138	(5,759)	-	10,309
Orchard capital	6,550	12,494	(32,745)	5,701	(8,000)
Orchard operations	-	10,000	(10,000)	-	-
Orchard facilities	-	-	(1,205)	-	(1,205)
Virgin O2	208	-	(51)	-	157
Far Field Project	10,000	8,615	(5,862)	-	12,753
CPFT Wellbeing	-	350	(350)	-	-
Global MSN	-	35,000	(34,932)	-	68
Greening The Kerb	-	437	(578)	-	(141)
TractorAid	-	1,049	(1,049)	245	245
EDMT Christmas	-	-	(500)	-	(500)
Nature Save Trust	-	-	(38)	-	(38)
AZ Unwrapped	-	3,000	-	-	3,000
	59,147	71,083	(98,595)	6,327	37,962
Total funds	409,684	758,966	(758,323)	-	410,327
	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 for 30 years	7,910	-	(4,182)	-	3,728
Leakydishwasher	677	-	(225)	-	452
EDMT Hovel	(2,000)	2,000	-	-	-
EDMTUW	(1,000)	1,000	-	-	-
EDMT Covid Lottery Covid	(2,100) 850	2,100 -	- (212)	- -	- 638
Canopy of care	12,071	10,000	(2,386)	(48)	19,637
Anton Jurgens	3,000	-	(2,439)	(42)	519
Infection control fund CCC	-	7,995	(7,995)	-	-
Newplough appeal	-	245	-	-	245
Polytunnel appeal	-	16,145	(215)	-	15,930
Orchard capital	-	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
Totalfunds	313,696	707,387	(611,399)	-	409,684

The Prospects Trust

Notes to the Accounts

for the year ended 31 March 2023

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 -----
Unrestricted
General Designated Total
£ £ £
Fixed assets 173,739 21,470 195,209
Current assets 211,785 16,492 228,277
Current liabilities (13,159) - (13,159)
372,365 37,962 410,327
----- End of picture text -----

18 Related party transactions

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