REAL FARMING TRUST *AAG05A4H 1112021 COMPANIES HOUSE
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Report of Trustees and Financial Statement 2020-2021 $336&38_
REAL RMON TRUST. . charity number 11)61607 compdny number 3336839
THE REAL FARMING TRIIST REPORT OF TRIJSTEES AND FINANCIAL STATEMENT 202(k2021 Formation of the Trust The Trust was incorporatèd as The Winged Horse Trvst on the 20th March 1997 and was registered as a charity on the 27th March 1997. Its change of name to The Real Farming Trv5t was registered with the Charity Commission on 22nd August 2014, an¢ at Companies House ori Ilth November 2014. Its reBiStered office is 27 Old Gloucester Street, London, W¢IN 3AX, Vnited Kingdom. The Trustees present their report and the financial accounts for the.year to 3-Ist March 2021. Objects ofihe TNst The objects of the Trust as contained in its Articles of Association are to further such charitable purposes or objects as the Trvst shall from time to time determine. Purpose of the Trust The Trust's purpose is to encourage faing and food production practice5 that are economicallv sound, democratic. socially just. humane to anima15, an(1 prom9te the long-term'protection of the biosphere. In practice this means sUPPQrtin8 project5 that adopt agroecological method5 of farming, seek to localise supply chains, increase employment and engagement from local communities, revive local economie5, protect and enhance the biosphere and through all of these elements bring about social impact on the local communities that they serve. Public 8enefit The trustees have referred-to the information contained in the Charity Commission's general 8uidance on public benefit when revIeIng the CharW5 pyrpose and in planning Its fvtvre activities. During this financial year publit benefits were delivered through the following principal project5.. The Oxford Real Farmin Conference ORF In January 202 1. as a result of the pandemic, wè decided to take ORFC online and make it an interna- tional.conference. ORFC Global was the largest ever online gathering gf the food and farming movemeni. Over seven days. it was attended by 5.317 delegates from 125 coyntries, including 23 African countries and representatives from Iran, Albania. Bhutan and North Korea. A tryly interna- tional programme offered 155 sessions and workshop5 ¢oyering such diverse areas a5 farm practice. climate justice, food sovereignty, indigenous wisdom. soil health, access to land, biodiversity and technology. These sessions We delivered by 51Xi+ speakers from across 18 different time 20nes and translated into 7 languages. The conferen¢e not only gave a platfomi to high profile a¢tivistS Such as Naomi Klein, Vandana Shiva and Anna Lappé- to name a few~ but also to many farmer5 from aroynd the world, who were able to share their incredible stories of.struggle, triumph and innovation. It also broughtklozens of part- ners together to work on creating a programme that would appeal to an international audience. These included La Via Campesina, the African Food Sovereignty Alliance IAFSAI, Real Food Media, the Agroecology Fund, IFOAM, IPES-Food and Urgenci. as well as.the ORFC'S usual VK partners, in- cludin8 the Landworkers, Alliance, the Soil Association. Systain, Nourish and the Pasture-Fe¢ Live- stock As50Clation IPFLAI. As a result of svch far-reaching collaboration. we were able to programme 5e55ions-from farming communitres who had never spoken on a global platform before. These included indigenous speak- ers from communitie5 in Brazil, India. New Zealand. Taiwan. Ecvador and Alaska, to name a few.
Other highlights inclvded hearing from representatives of the feminisi farmin8 collective, FEM, in Nicaragua,. farmers from the Himalayan regign of Sikkim. the first fully organic state in the world,. a group of farmers working on rice intensification in Indonesia- and from the Shashe Agroecolo8ical School in Zimbabsye. ORFC Global was a very exciting eveni for all involved, from the team to the speakers to the partici- pants. It Wa5 the first time that so many partners and funders working in the global food and farming movement were able to collaborate on a public facing event. This brought an energy and enthusiasm to the conference that was palpable across all the sessions. For participants, it was an opportunity to engage in a world of hopeful and construciive conversètign ai one of the darkest.times in recent his- tory. In addition to ORFC Global, we supported the development of the Northern Real Farming Confer- ence, the first re8ional conference addressin8 food and farmin8 issues in the North of England and Scotland. This was also delivered online and attracted an audienee of over 5C4) delegales in the Au- tumn of 2020. We were also supposed io hold our first smaller'ORFC-in-the-field' event at FarmED in the svfnmer of 2020 which was to allow delegates to dig deeper into the subject-matter of some of the sessions at the QRFC. This event sold ovt, but sadly had to be postponed to 2021 due to coro- navirus. We are hoping to hold three 'in-the-field' events each year, giving delegates the opportunitv 'to learn from some of the most innovative farmers in the UK and to ViSlt local farms to see these practices in action. In response to the coronavirvs pandemic, we launched two other ORFC initiative5. The first was the ORFC Review, an extended newsletter which launched in April and went oyt to the ORFC community of over 7,¢XJO followers each month for the rest of 2020. The newsletter helped to keep organisa- tions within the ORFC community across each otherfs artions. as well as provide farmer5 and grow- ers with a glimpse into the lives of their friends and colleagues during the cri515. It has also been an amplifier of news, online events and campaigns and has kept the spirit of the ORFC alive for its many flelegates during a time when they have felt isolated. and at time5 in need of"a bigger vision of how important their work 15. Secondly. we launched the Agroecology Communications Network IACNI. While many of our part- ners have great comms people who connect with others when there is a need to do so. it is apparent that we could work more effectively and strategically if we were able to communicate with each other regularly as a Broup. support each otherfs campaigns and coordinate our activities. The ACN wrll help each. organisation to see what others are currently working on and to reach out to each other when urgent comms support is neetled. such as happened recently with amendments to the A8riculture Bill. The network will also share cont3cts and information with each other in relation to press, media and PR and look for training and support where available. Any organisation working in this area is welcome to join and attenLI monthly online meetings. Read Mealth Eat The three-year prograrnme funded byThe National Lottery Community Fynd ITNLCFI began in Marth 2020 and appoinled a new memberof stsff as Programme Manager in Ortober 2020. The aim of the proEramme is to bring together a number of community food organisations to trial different ideas for improving the nutritional value of the cooked food eaten by the most vulnerable groups in their community. Between them, the partners are providin8 nutritionally balanced meals created specifically for people who attend various support groups and food banks as well as home deliveries lo vulnerable people unable to leave therr home. Beneficiaries inc.lude adults with learning difficul- ties, people at risk of homelessness, refv8ees and families on low incomes.
The programme 15 managed by the RFT with four delwery partner organisations (Now Group in Bel- fast, Cyrenians in Edinburgh, OrganicLea in London and Brighion and Hove Food Partnership), Cov- entry University's Centre lor Agrgecology, Water and Resilience are the social impact assessment partner. Working in partnership has enabled the project5 to share innovations and good practice. Lockdown wa5 announced almost a5 soon as the project began. The community ¢afes were Closed and the projects. work was suddenly changed. The projerts took active role5 in providing very lar8e quantitie5 of ready meals to meet a huge growth in need, enabled by an additional grant from TNLCF'5 Coronaviru5 Communily Support Fund that Wa5 arranged by RFT. The projects were well placed to build network5 With other organi5ation5. to harness willing volunteers, to find and reach people in need and to collect surplus and waste food. The main output in the first year has been an effective commynity provision of over half a million ready meals during the pandemic. The projects a150 saved 170 tonnes of food.from being.wasted. The care, dignity and contact that came with the meal was highty valued by recipients, many of whom were alone and vulnerable. An unexpected social impact finding was the benefit5 to volun- teers of their participation during the lockdowns. They described significant beTrefits to their own well-being from working in teams and providin8 help. Many people gained new perspectives into the make-up of their own nei8hbourhoods. The programme aimed for this food to be made by trainees who were themselves at risk of food poverty, providing them with work experience and training and a mentoring scheme to help them into further training or employment. This aspect of the work has been delayed by Covid but is now underway. ial im Work on the digitisation of the toolkit continued throughout 2020 and was launched in March 2021. The toolkit wa5 used as a basis for collecting data from our first two LEAP inv_estees in 2020. Kev findings from that data are that the main driver for tustomer involvement is concern about the envi- ronment, though supporting local bvsine55es was also important. Rather than catalysFng wholesale behaviour change, the data indicated that LEAP investees provide a way of enabling people to prac- tice their world views on a range of Social and ecological issues. There does seem to also be an im- pact on the amount of fruit and veg eaten even though consumers are starting from a high starting point. Around 60% of customers reported eatin8 more fruit and vegetables and aro(Jnd 90% say that being involved with the projects had had some impact on their diet and eating habits. Over 50% said that they were more resourceful in their use of foodlwasted less food as a result of their involve- ment with the projects. The impact of Covid on supply ehains was seen in the fact that over 70% of respondent5 said that reliabilily of supply was very important to them. A further six investees have started using the ioolkit over the course of 20121 and the results from Iheir data seis will be reported at the end of 2021. The nextStège in the development of the toolkit will be to explore partnerships with other organisations that are also developing impact assessment tools e.g., Better Food Traders. Sustainable Food Trust to see how we can integrate the toolkit into their work. We will also be lookin8 to raise funds to add functionality to the toolkit including creating individual dashboards that will enable projetts to monitor and store their progress digitally as well as enable them to benchmark their work agoin5t that of others. Loans for Enli htened A riculture Pro ramme LEAP LEAP provides funding and support to agroecological food and farming enterprises that are aligned with our values and charitable objectives. It offers a mix of affordable loans1£20,000-£ICQ,CQOI and grants118% of the loan amount) side by side with a comprehensive mentoring pro8ramme and a hands-on approach and 15 made possible by funding from the Esmée Fairbaifn Foundation, the Centre for Innovation in Voluntary Action. the A Team Foundation, the Power to Change Foundation,
and the Halleria Trust. The Real Farming Trust is also an Ac¢e$5 Point for the Reach Fund. which provides Brants for investment readiness mentoring. LEAP will be making investments through to the end of 2022. Decisions on investments has been delegated to an experienced Investment Committee which reports to the Board of Trustee5. Since launching and through to 315t March 2021. LEAP received 90 expressions of interest. representing over £3.8m in funds. We invited 23 of those to make a full application. 17 were pproved to move forward to Round 2. which sees thefn receNe investment readiness support and . mentoring. This mentoring is"a key part of the"programme. with applicants receivin8 between £5-IOk worth of tailored advice and support from specialist mentors most commonly rn the critical areas of governance, business planning, financial forecasting, and social impact planning. The total funds drawn down or in the pipeline at 31st March 2021 are £695,750 which represents around 65% of LEAP's.available capital. LEAP approved its first investments in September 2019 to the Apricot Centre and Glasgow Locavore. Since then. it has approved further investments into Edfords Care Farm, Sole of Discretion, Goonown Growers. Gwendraeth Organics, Earthlight Herbs. Soul Farm. Tyddyn Teg, Regather and Hempen. The Colle e for Real Farrnin and Food C Iture CRFFC The Covid-19 pandemic slowed the development of the CRFFC, and meant we had to cancel some events and activities Isuch as our second dialogue at 42 Acres in Somersetl. However, we used this time to firm up our plans for the CRFFC and started on the development of a detailed strategic plan and budget. This process should be complete by June 2021. We a150 further developed our. relationship with the 81ack'Mountains College through a Memorandum of Understanding. As part of the collaborative learning partnership. the CRFFC will provide help and support in the followin8 specific areas: 11 Development of modules of the undergraduate curriculum and modules on 78roecology 21 Development of a series of events to be held in partnership with the BMC on site 31 Co-creation and development of new programmes 41 Co-creation and development of short courses and further education courses The CRFFC a150 Slt5 on the Academic and Farm Advisory 8oards and will be supporting the BMC a5 they develop plans for the campus (which includes a farml. with the cooperatmjn of the local community. ra mu + Partn Ilaborative I arnin about innovative lan strat -The year 54W the completion of our three-year programme of work with six partners from EU member states on "Innovative Approache5 to Land Ownership" and with it the conclusion of our nine-year involvement in Erasmus funded EU partnership projects on access to land. We hope though that the friendships we have built up over the years will continue despite the UK leaving the EU. And we rernain members of the Acce55 to Land Network composed of around 15 organisation¥ from Austria, Befgium, Czech Republic, France, Gem)any. Italy, Romania. Spain and the UK. During the year two reports were published (online and in hard copyl- Both were collective documents coordinated by the following organisations.. Eyropean coordination.via Campesina IECVCI, Terre de Liens, URGENCI, Eco Fiuralis. the International Federation of Organic Agriculture Movements IIFQAM-EUI, Real Farming Trust IRFTI and Transnational Institute ITNII. The first - "Your Land, My Land, Our Land- was.a handbook to support local land mobilisations and was launched in
June 2020. The second - "Roots of Resilience= Land Policy for an Agroecological Transition in Europe" wa5 published in January 2021. A series of webinars were also organised in place of some of the planned meetings. one of which 'The Financialisation of Land Sales" we hosted at ORFC Global 2021. The All-Part Parliamenta Grou on roecolo for Sustaina le F rmifl APPG The APPG'S principal achievement. has been to take agroecology from the fringe of the food and farmin8 debate in Westminster righ.t to the centre over the past ten year5. One of the key reasons for the group's growing influence has been its ability to get ahead of the cvrve on the big issues facing agriculture. from soil health and climate change to biodiversity loss and animal welfare. The Covid-19 pandemic resulted in signifitant restrictions on engagement, preventing onsite and offsite events, but despile this, we did manage to co-host several briefing sessions for ovr member5. and those of other APPG5, around key policy and legislative issues. including meetings with Ministers in both Defra and with the COP26 President. Rt Hon Alok Sharma MP. Our members also sponsored draft arnendmenis to the Agriculture 8111 which now. significantly. . includes reference to agroecology. This enga8ement gave a huBe opportunity to discuss and raise the profile of agroecology in Parliament. with many APPG members and others speaking to the importance of agroecology and agroforestry. a5 way5 of delivery and land-use. Governance and Managemenl The Real Farming Trust is a Company Lirnrted by Guarantee and a re8lStered charity and is governed by its Articles of Association which set out the powers and objects of the organisation. The director5 of the ¢ornpany are also the trustees of the charity. Trustees have control of the organisation, its funds and assets, and are responsible for overall strategic and operational management and trustee recruitment. Board meetings are held quarterly. The trustees have delegated Ihe day-to-day management of the organisation to the Senior Management Team. Trustees are recruited from the wide network of people and organisations who support the aims and activities of the Trust. The Trust is a member of Oxfordshire Community and Voluntary Artion, which provides guidance for Trustees and a full training programme. The following Trustees served as members of the Board of Directors during.the year to 315t Marth 2021. and to date= Mary Franklln Colin Tudge Jamie Hartzell Christopher Walsh (resigned 16th June 20201 Samrawit Mariam Nicola Read (elected on 18" March 20211 Members of the Trust guarantee to contribute an amount not exceeding £1 to the a55ets of the Trust in the event of a winding up. The total number of such guarantees at 31st March 2021 was five. Member5 of the Board of Directors have no beneficial interest in the Trust.
Strate8ic Plan and Fulure Priorities The world has chan8ed a lot over the last 3 years and the pace of change in the food and farming Sector is accelerating. Huge challenges remain. with policy change, trade deals and the ongoing pan- demic. The RFT itself has grown" from 2 employees in 2018119 and èn income of £209,439 to 8 em- ployees and an income of £733.795 in 2020121. This brings certain opportunities. but also brings Firoblems and challenges that need to be ad- dressed. There is much to do, and it would be very easy to try and do it all or lose focus. Because of this," we are in the process of developing a new strategic plan and theory of change, to build on the momentum that we already have. and set the agenda for the. next 3 years. We achieved much that we set out to achieve in our 2018-2021 strategic plan. and in 2020 spécifical- ty were able to.. Slrengthen our communications with the recruitment of an experienced communications coordinator Recruit new staff into LEAP, the College and "Ready. Healthy. Eat. to allow our Senior Man- agement Team to step away from day-to-day project management and focus our strategic prioritie5, developing new programmes and fundraising. Expand the QRFC team by recruiting an operations coordinator and introducing new events and activities, and supporting the development of a new regional conference in the North of England. Recruit an experienced consultant to art as the Secretarial to the APPG A8roecology. Launch a new ORFC website. The Covid-19 pandemic has clearly impacted out events programme and our programme of work with the APPG. with some events and activities being cantelled or postponed to later in 2021 or 2022. But a5 a 'virtual' organi2ation we were thankfully able to continue without too much disrup- tion and use the opportunity to take ORFC online and global. which was a huge success. Our 2021-2024 strategic plan is in development and should be approved later in 2021. Financial Review: The Trust's main sources of income derive from grants, donations and income from charitable activities. mainly in the form of tickets. sponsorship and exhibition stands for the Oxford Real Farming Conference. Major lover £IO.0001 grants and donations received during 2020121 included.. £112,489 from the Esmée Fairbairn Foundation for core costs, APPG and Covid-19 sUPPQrt,' £15,286 from Power to Change Foundation for community business mentorlng as part of the Lo4n5 fur Enlightene(J Agriculture Programme ILEAPI- £15,CW from SHED, £15,CW from a foundation known to us which has requested conh'dentiality, and £IO,OOQ from the Sheepdrove Trust for ORFC Global; £21,735 from the Halleria Trust for on-grants as part of LEAP,. and £328,541 from TNLCF and £68.852 TNLCF'S Coronavirus Community Support Fund for Ready, Healthy, Eat. Total income was £733,795, compared with £367,497 in 2019120. with £495,624 in the foim of restricted funds. The Trust has two main sources of e¥penditure- the grants it makes, and costs associated with its charitable activities. Total expenditure was £541.424. compared with £266,409 in 2019120. resulting in a net income for the year of £192.371. At 31" March 2021 the tharity had total net assets of £424,039, of which £269.145 was held as restritted funds and £154,894 as unrestricted funds.
ReseThes Policy The Board of Trustees ha5 examined the organisation's requirements for reseThes in light of the main risks to which it may be exposed. It has e5tabli5hed a policy whereby the unrestricted funds not committed should ideally be between three- and six-months, worth of expenditure on.unrestricted charitable activities. The total unrestricted funds at 31 March 2021 were £154,894, compared with £58.737 at 31" March 2020. Total expenditure on (Jnrestricted charitable activities to 31 March 2021 was £142,014. Our current reserves therefore represent over 12-months' worth of expenditure. This has increased during the year dve to core cost funding received from the Esmée Fairbairn Foundation. and we expect this to reduce over the next 24 months or so. Reserves are needed to safeguard the work of the Real Faming Trust, and the Board of Trustees is confident that at this level they would be able to continue the main'core seNices in the event of a significant drop in -funding. The reserves policy will be reviewed by the Trustees every year, or as necessary when there are significant change5 to the organisation'5 artivitie5. staternent of Trustees. Responsibilities as Directovs Company law requires the trustees to prepare financial statements for each financial year that give a true and fair view of the charity's financial actNities during the period and of its financial position at the end of the year. In preparing financial statements givin8 a irue and fair view, the trustees should follow best practice and.. 5È1ect suitable accounfing policie5 and then apply them consistentlv- Make judgements and estimates that are reasonable and prudent.. Prepare the financial statements on a going concern basis unless it is inappropriate to pre. sume the charity will continue in operation. The trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ensure that the financial statements comply with the current Statement of Recommended Practice.. Accovnting and Reporting by Charities and in aCCOfdance with the special provisions of the Companie5 Art 2CK)6 relating to small entities. They are also Fesponsible for safeguarding the assets of the charity and hence for takin8 reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Board of Directors and s ned.on its behalf= ..Name
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF . The Real Farmin Trust I report on the financial statements of the charitab company for the year ended 31 Mar¢h 2021. which Comprise the lollowing Statement of Finanaal Actiwties, Balan¢¢ Sheet. Cash Fbw Ststement, a¢nting. poli¢$ and 5UPPOrting_notes. R•$p8cti¥e rnsponslbillti•$ of trusts•s and •xamin The Iruslees (who are also the directors of the company for the purposes of company I) are re5pon$ib for the preparation ol the financial statement$. The trustèes constder Ihat an audrt 15 not required for this year under sectKJn 144 01 the Charities Act 2011 (the Charth"es Att} and that an independent examination is needed. l am qualified to undertake the examinaty.on by bein9 a qualffjed member of the As50ciab'on ol In¢Jep?ndenl Examiners. It is my wspon$th"lity to.. - examin¢ the financial Statements under Se¢tion 14S of the Charitse5 Act.. - follow the procedures laid down in the General Directions given by the Charity Commissioners under Section 1451Sllbl of the Charities Act),. and -.state whether particular matters havtr come to my attention. Basls of Independent examSnerfs statement My examinaiion was carried out in accordance with general Chre¢tions 9iven by the Charity Commission. An examination includes a review of the accounting record5 kept by the charity and a comparison of the finan081 statèmènts presented wth those records. It also indudes consideration of any unusLtal items or diselosures in the financial statements, and seeking explanatiuns from the Iru$te•s ¢cerning any SL4ch matters. The wocedures undertaken do not provKle all the evidence that would be required in an audrt, and consequenuy ..f opinion is given as to whethér thè finanual statemerAs present a.true and tsir vievr and tre report is limrted to those mattefs set out in the statement below. Indgpeniient examingr's $t•tomgnt In connection vmh my examination, no matter has come to my attenb"¢)n to indute.. a) a¢counting Cold$ have not been kept in aGwdance wth seTh 386 of lh$ Companies 2006.. b} the a¢count$ do not a¢¢ord vAth such records.. c) that they fail to comply wth the relevant accounting requiremMts unaer section 396 of the Companies Acl 2006 Of are Th)t consistent wth the ChaThbes SORP IFRS1021". any matter whith the examiner believes should be drawn lo Vle attent*)n of the reader to gain a proper understanding of the finanrial ststements. dl Mary Wallbank OCh4. FCIE Charity Management Sewvices 19 Stinchar Drive Chandlers Ford EastlevJh Hampshire S053 4QJ 2 5th Oc+e&xr 2£>7J
The Real Farmin Trust STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 March 2021 Incor ratin Income ndEx nditure accoun Note UtrICted Rostrleted Funds Funds Total 2021 Ttstal 2020 Income Donations at)d.grnnts Charftable a¢tbvlUe In¥e¥trnent Income 110,344 119.624 8,203 495,624 fj05.96B 119,624 8.203 256, 149 110,050 1,298 Toial Income 238.171 495,624 733,795 367,497 Charltable expendlture 142.014 . 399.410 541,424 266.409 Net Incorn .157 .214 192,371 101.086 Net movement in fund$ 96.157 .214 192.371 101,Ce8 Tolol funds brought forward 58,737 172.931 231,668. 130.580 ' Total fvnds carrted forward 269, 145 4,039 231.668 re ale no recognised gains and losses other than I1è passing through Ihe irwm expendrture account. All inwme antl experKlitvre is in iesped of the tharitabte ¢cynpany's Ccvbtinvirg acDvities.
The Real. Farmin Trust BALANCE SHEET AS AT 31 March 2021 2021 2020 Current A88ets Debtors Bank and Cash . 334.323 430.553 764.877 171,061 260.124 431.185 Credilor4: amounts du• within on• )•ar 45.636 51.205 Net curnnt auets 719.241 379.980 ¢r•ditois'. amounts due in more than one year 10 1295.2011 1148,3121 Tolal NelA88ets 42 231. RreSented by.. R¢8trf¢trd Funds 11 . 269.145 172,931 Unr•8tricted Funds 154.894 58,737 Total Fun1$ 231668 For the year efi¢Yiro 31 March 2021 the cornpany wa5 •ntytsl 10 trmpl)n from audrt urder se¢tion 471 of the Companies Act 2006. No member ot the company ha$ deposited a noti. putsuaTht to Sedson 476. requiriThJ an audit of these financial statements undef the reqU1ments ol Ihe ¢ompan Act 20C6. The directors acknowledge 1heir.re5pons)1IIts IOT ensuring that the ¢(¥7)pany keeps aCnting reCoS whKh comply with section 366 of the A¢t and for prepanNJ finanth81 statements thai gwe a true and fair view ol the state of affairs of th8 company as al the end of its finanaal year and of itssurplus of defi¢)t for the finanoal year in accordance with the requirements of sectvJn5 394 and 395 and which otherwise COrnY with the requirements of the CL¥npani8s Act 21x6 f8lating to accoun15. 50 far as applic4bl8 10 th8 cornpany. These financial statements have been ppared in a¢¢ordanc¢ with the Provisn$ appli¢able.to compan5 subject to the Small companies regime thIn Part 15 of the Companies Ad 2Ct6 aTrJ writh the Finala1 Reporting Standard IFRSI 1Q2. The finanoal statemènt5 r9 approved by Ihe trustees on sffjned on their behaw". Cth"n T ITru$teel Comp•ny Regl8tration Number.. 3336839 RegiSre as a company in Englarbj aTrJ Wa*. 10
The Real Farmin Trust STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 March 2021 Total 2Q21 Total 2020 Cash us•d In 0rating ¥¢liviti?$ 184.191 99,866 Decreaselllncrease) in operth.ng actNIty debtors 6.900 {10,500) Ioe¢rt¥5eylncrea5e operating actwitiy cre(lrtrys 131.687) 31.488 Cash flows from Investlng activiti•s: In¢rase in gran15 repaYae 20,831 18.50S Increase in social investment loans deblors (170.162} (160.561> Increase in social investment loan uedrtors 152.176 143,$45 Interest receivable on S1 inveslments 8,180 1.,222 Change in cash and cash equivalents dvring the year 170,429 123.565 Cash an¢J cash equivalents at the start of the year 260,124 136.559 C•$h and c•sh •quiv•lMt$ at th• •nd of th¢ yoar 4X,SS3 260,124
The Real Farmin Trust NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021 l Accountln8 Pollcles The principal accounting [l¢lt$ adopted. judgenIS and key 5ow¢es of e5b"Mh urt•rtainty' in the eparatiort ol the ffinanual stslments are as fdlryws. a.Basl$ of preparation Tl 8c¢xunts are prepared in a¢xordance %%Yth the actountwy regUlatiry set out vnder Ihe Ch8ritES Ad 2011, and wth the current Accounling and Rewting by Charilies." Slalemenl of Recommended Practice ISORPI, issued by the Charity Comission., wth Companies Acl 2C(6 and th• FThncial Rep1¥19 Standard 102. Assets and liabilrties are initially recognised at historical cost LV transaction val. otherwise slaled below. The trustees conshler thal there are.no material Lm¢ertainties atthrt the charitys at¥"lity lo continue as a going concein. b Fund$ Restricted funds are fvnds whith must be used acc(thce ith specific reslric#Ks imposed by t donor or Ihe terms of a speufic appea. Exr11turt whth meèts this criteria is from the fund. Unrestricied funds are thosè fund5 whith can bè used for any purF4JSÈ in lurtherance of the charitable objects. Unrestricled lunds indude dewgnated frjnds where the Iruslees have. al their discretKin. temporarily set aside resources for a specific purpw. c Ineom• Incorne is included in the acwjnts once the charity has entitiement. the arTThint be measured wth suffiaent reliabilty and the is the wobability ol Pt. Earne(J ItKome is iluded in the Fenod in vthich the servti is wovijed. rf any perfOrnr (xJndrtKJns attached have been met or are fvlly wrfhin the controOf the ¢h¥r¥ty. DonalK)ns are included when given. tc¥Jethw with an estimale of Ihe relaled gtft aKI Ihèreon Donaled Servic are included in the accounls when reiVed al the Val of the gift to the tharity provided the valu¢ of Ihe gift ¢an be measure reliay. The ewNal¢nt amount is recognised as an expense under the appropriate caiegory.. Legacies arè induded whèn the datè ol prob 15 asrxrtained and thè amwnt receNatAe can be reliably estimated. Income whith is subject to cwdition8 that Ihe charity has yet lo lulfil. orvthtth IS SFecific8lly lor use in a futur¥ accounting pericJ. is treate(l as defeffed irume. d Expenditure Expenditure is induded on an accruals basis whèn inrTed. th is VA a legal or constructwe OlgatIOn anses, and inGlude$ relaled irrecoverable VAT. Future lialy"lities are incIle at the best eslirnate of the amount required 10 settle Ihem. Future liabilities are induded at the best estimale of the amounl required lo settle them. • Pensions The charity contrthtes to the govemrrEnfs NEST tsfined CctribUti p"On scheme. Contributions are tharged irnthe finan¢ial $Mement$ tn the p¢r io which tly rd*e. 12
The Real Famiin Trust TES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021 Unr•str5ci•d R•strict•d Funds Funds Total 2021 Total 2020 INCOME 2 Donation¥ and grants National Lottery Comrnunity FuTrJ INLCFI NLCF Coronovirus CommuThty Supp( FuThJ Esmée Fairbaim FounLlation Pcther lo Change Fwndatson A Tearn Fc¥Jndation Be the Earth Foundation Halleria Trust SvstainabilityHealthEnvironmentOevelopmentlSHEDI Foundation thai has requested confKlentialty' Sheeplrove Trust Terie de Liens Other or9ani5ations Individual donatsons Gift aid recnverable 328,541 328,$41 68.852 112,489 ' 15.286 124.818 107,489 $5.TrJO 15.286 3.000 25.000 20.7C 21.735" 15.LXXI 15.0 10,(KN) 4.752 21.735 15.(XA) 15.r 10,( 4.752 4,133 2.1 4,B08 21,265 180 675 2.180 110.344 495.624 605.968 256.149 3 Charltable Actlvltles conferen and ¢xhibitw fees Conference sponsorship.'- Soil A55ociation Riverford Organic Farmers Ltd Globetroiter FourKJation Nature Friendly Farmin9 Net*xYk Cot5wcAd Seeds Ltd Triodos Bank UK Ltd Organic Herb Trading Cpary Ltd. Sooal investment loan fees Other serviTrs 83.838 4.CKO 3,574 3.574 2.915 2.915 1.412 110.050 119,624 119,624 4 Invqsknent Ineome sal investment loan interest Bk intere51 .81 8.180 23 8.20 23 8.203 78 1,298 13
The Real Farmin Trust NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021 EXPENDITURE S CharStable Expendlture Unr•stricted R•stricted Funds Funds Totsl 2021 Totsl 2020 Advertising and 0M.0rt41 Bank charge5 Conference Gatering Dues and SubscriptH)ns Grants (see note 141 InsJependent examination Interest paid on Social investment loans Legal and professional fees Office and general administratNe expenses Proj¢d delivery Rent of lease of buildings Slaff costs Isee note 7) Supplie¥ Travel and accommodation 1.102 371 1,102 486 129 92 10,234 148 78,365 700 800 4.452 7.410 79,034 25.978 53.fj65 923 4.677 266.409 137 137 276,023 725 4,915 1.242 6,925 149.170 276,023 725 4,915 456 1,313 78.015 5.613 71.155 56.717 125 369 142,014 42,375 99,092 125 1.482 541.424 1,113 399,410 6 Truste. r•mun?ration and expenses No trustees received any expenses durin9 the year12020.' £ndl. 7 Staff ¢osts 2021 2020 Gross salaries S¢xial security costs Employer pen$ion ¢ontn"bulton$ 92,467" 50.979 668 2.019 53,865 2.978 99.092 The average nwnber of employees during.the year was 3.512020- 31 No employee rec&ved emoluments in excess of £60.000 p.•. during the yèar12020- none).. 14
The Real Farmin Trust NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021 Tgtal 2021 Tgtal 2020 8 D•btgrs Social investment loans Other d•bto 330,723 3.600 160.561 10.500 171.061 9 Crndltors: knounts ialllng dug wlthln orn year Swal Invesiment loans Grant5 payablg Olher credilor$ Accruals 39.856. 13.738 25.910 10.107 1.450 51.205 4.830 950 . 10 Cr•dltofs: Amounts falling du• In mor• than on• y•ar Stxial lntrTren1 loans CIVA repayable grant 255.865 39.336 295.201 129.807 18,SDS 148,312 11 Re8tr1eted Fuhds Funds ' Incornlng Rgsour¢8¥ Note 110412020 Resourc expendtd .Fund$ 3110312021 All Party Parfiamentary Group on Agr03Y 5.432 10,COJ 112.6081 2,824 Inno¥atK)n and Infrastructure Fund (p(y to Ctjangel Loan5 for Enlight¢n¢d Agrirutture Pr93[aM ILEAPI LEAP rnentoriry IEnglandl LEAP rnentoriThJ Irest of UK) Social Impact TOkIl FEA Other Collaborative Learning about 1nnovab.ve LaThJ Strategtes Rèady. Héalthy. Eat Coronaviru5 Community SuFPOrt Wildlit• on Fams Dièknguè Oxfor¢ Real Farming Conferer Routes to Mwket lor Pastu for Lrfe cerbfied kwojucls Total 11,5081 137.3071 110.7491 7.5581 35.092 31.487 15.485 113 771 5,381 75.056 21.735 1S.286 19.520 36.024 7.929 17711 .13.9471 12CE.6151 168,8521 4,752 328,541 68.852 ' ,185 1,982 406 1.075 46.458 ' 147.5331 1,125 398.685 172.931 495.624 269 870 All.restrictsd fund balances a hek1 as bank tkilances. Tr dall$ for each fth)d are PfovM1ed in Ihe refenCe0 notes on th• noxt pag•. 15
The Real Farmin Trust NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021 11 Restricted Funds contd. a The charty 1$ the Secretsriat for the APPGA whth.promote$ the mportance and Vall of adopti'ng agroecological approaches to food and larming in UK poly. b The Power to Change Foundatson provided 0 grant to de$i9n. tjevelop and launch the Loans for Enlightened Agriculture Programme The funding also fvnded a feasibblity study on access to land for agroecology and continued work on our social impact toolkit. Remaining funds were used lo suppNi the IMpmenta.On of LEAP. c The charity manage$ the Loans for Enlightened Agri¢ulture Pfogrammè pro¥Kding loans. grants and mentoring lo food and famiing enterprises. The programme is lunded by interest received and fees charged. Additional opeFational funds were provided by ihe Esmée Fairbaim Foundation for the LEAP Programme Team whi¢h responsible for identifying. assessing and managing applicatK)ns. Carrn9 out due dilwJence and making the Soan and grant agreements. 11 1$ also be resFonsible for monrtonn9 and reporting lfinanciaLs and impacts), promotirvJ LEAP and its impa¢t and providin9 advi¢e and supwt to the investee$. Grants for successful appltcants to LEAP are provided by the Halleria TfLlSt. d The Power to Chan9e Foundakn"on provhieda grant to prOde support and advice to LEAP investees located in England in areas such as business planning. finanoal forecastsng. govemance. and impact mèasurèment e The Esmée Fairbaim Foundation provided a grant to wovide support and aoknce to LEAP iftvestees It)¢ated outside of England in areas 5uth as bu5ine55 planning. finanryal fore¢•str"ng, governan, and soaal impact measurement. f The Power to Change Foundatton provided a grant to the charity for the further development of a Soaal Impaci Toolkit for communrty food businesses in partnership vthh Coventy Universrty's Centre for AgroecKJy,. Water and Resilience. This toolkit is being used to measure the social impact delivered by LEAP investees. g Th& FEA {Oth&rl fvnds wwe from vawiou5 fvnder5 for mentoring and semfftar wort. h Thi$ 15 an EU Erasmus+ funded.programme and involves Seven partner organi$ations from five EU countries.. France, the Netherfands, Romania, 8è19ium and thg UK. The programme 1$ managed by land payments are received vial Terre de Liens. i The Rèady. Healthy. Eat programme. lunded by the Natbtsnal Lottery Ctynmunty Fund and managed by the Real Farming Trust. brings togethèr a number of community food organisations lo trial different ideas for improving the nutritional value of the cooked food eaten by the Most Vulnerab groups in their community. The programme. aime(I for this fotsj to bg made by trainees who were themsel¥e$ * risk of food poverty. providing them with work experience and training and a mentorin9 scheme to help them into"further training or employment.. j Addilitin?I coronavirus emergency fvnding lor our Ready. Healthy. Eat partner$ wa$ provit1ed by ihe National Lottery C¢ynmunity Fund's Coronawrus Community SLtpport Fund. k Funding was roceived from Be the Earth Foun¢Jation to hold a College for Real Farming dialogue at 42 Aryes in Somerset. This was postponed due to Coronavirus. and will now be held later in 2021. l Grarbls lowar¢Js the operat*)nal costs of the ORFC Global Wre ceIVed from the Sheepdrove TrusL SHEO, foundation Ihat has requested confidenbalty. A Team FourTrtstK)n and the Agroecology Fund. m Funding provided to the PFLA to draw up a busness proposal and finanoal model for grIng routes to market for Pasture for Life ¢e"e products. 16
The Real Farmin Trust NOTES TO THE FINANCIAL STATEME R THE YEAR ENDED 31 March 2021 12 Relatsd P•rty TMn$a¢oTh$ Con5ullancy and project management lees 01 £6.375. aThJ expenw of£O12020.' £5.0851. re papj lo Ryth We$t, the w18 of Intstee. 13 Voluntsers ' In 8xordanc with FFIS102. the value of vohJnteer tvme is not recognised m Ihe acJnts..The contrbulb)n of volunteers 1$ reported on in Ihe Trustees. Report. 14 Grant Expendllure 2021 2020 The Now Project BrvJhion & Hove Food Pannership 'Cyreni8T15 Organic L•a Locavore S1 Farm Proju Gwendraelh Organi Mogdalene Hettss Pasttyre-Fed LNestock Association Apricot Centre Edfords Care Farrn Goonown Growers Vvillowbrook Fawm Okfèrd Re81 Famiing Conference BAME bursaries 1x91 70.921 70.SS3 64.359 44.820 13.130 5.759 14.641 14.917 9.000 5.130 1.125 5,000 4.500 7.200 2.129 500 1.589 78,365 76,D2 15 Statutory Inforniaoft The Real Famin9 Trnst is a <arIta tompaAy. wtsted CrynpWI House aThJ the Charity Cornmission for En9larKI and Wale$ ement owisin and Expenditure from 20120." o provi compara ve gures estncte ncome Funds Incomlnq Re¥ourc•• Fund$ 1104121119 Resources expended 3110312020 I Party Padiamenlary Group on Agrowcolggy Fundin hlened ricullure. Just Growth Innovaiion and lnfrasiruc1u Fund IPoAr to Chan9el Loans for EnlHJhlened AgrKutture Prrarnrne ILW) LEAP menloriry (England) LEAP menlorirs I$¢ Qf VKI .So¢ial Impa¢t Toolkit FEA Other Collaborative Learnin9 abovt Irtnovat Land Strate9S Ready. Healthy.. Eat Wihdlrfe on Fams .akngUe 3.683 10.500 18.7511 5,432 39 3.201 25.000 38,OC 1391 11.693 138.1231 16.5131 14.5151 '117.7Z91 1,508. 35.093 31.487 15.485 48.215 20.CQ) 19S 17.646 771 771. 5.381 75,056 4C 13931 149.7611 19.5941 124.818 10.C(K) Oxford Real Farniin9 COnfeTr ftoU 10 Markel for Pasture for Lrfe certffied Total 20.250 6. 125 244,911 119.1751 5.000 161.286 1.075 1.12S 89.306 17