REAL
FARMING
TRUST
*AAG05A4H
1112021
COMPANIES HOUSE
#57
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 fa￿ing 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 revIe￿Ing 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 tr*e 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 se￿￿Th 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 U￿￿trICted 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 I1￿è 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.
R￿reSented 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 tr￿mpl￿)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 reqU1￿ments ol Ihe ¢ompan* Act 20C6.
The directors acknowledge 1heir.re5pons￿)1IIt￿s IOT ensuring that the ¢(¥7)pany keeps aC￿nting reCo￿S 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 COrn￿Y with the requirements of the
CL¥npani8s Act 21x6 f8lating to accoun15. 50 far as applic4bl8 10 th8 cornpany.
These financial statements have been p￿pared in a¢¢ordanc¢ with the Provis￿n$ appli¢able.to compan￿5 subject to
the Small companies regime ￿thIn Part 15 of the Companies Ad 2Ct6 aTrJ writh the Fina￿la1 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
RegiS￿re￿ 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 0￿rating ¥¢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¢r*ase in gran15 repaYa￿e
20,831
18.50S
Increase in social investment loans deblors
(170.162} (160.561>
Increase in social investment loan uedrtors
152.176
143,$45
Interest receivable on S￿￿￿1 inveslments
8,180
1.,222
Change in cash and cash equivalents dvring the year
170,429
123.565
Cash an¢J cash equivalents at the start of the year
260,124
136.559
C•$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. judge￿￿nIS and key 5ow¢es of e5b"M*h￿ urt•rtainty' in the
eparatiort ol the ffinanual stslments are as fdlryws.
a.Basl$ of preparation
Tl* 8c¢x*unts 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 Rep￿1¥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#K￿s imposed by t
donor or Ihe terms of a speufic appea. Ex￿r￿11turt 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 i￿luded in the Fenod in vthich the servti is wovijed. rf any perfOrn￿r￿ (xJndrtKJns attached have
been met or are fvlly wrfhin the contro￿Of 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 re￿iVed al the Val￿ of the gift to the tharity provided the valu¢
of Ihe gift ¢an be measure relia￿y. 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 peric*J. is treate(l as defeffed irume.
d Expenditure
Expenditure is induded on an accruals basis whèn in￿rTed. th* is VA￿￿ a legal or constructwe O￿lgatIOn anses,
and inGlude$ relaled irrecoverable VAT. Future lialy"lities are incI￿le￿ 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 Cc￿tribUti￿ p￿"On scheme. Contributions are
tharged irnthe finan¢ial $Mement$ tn the p¢r￿ io which tl*y 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 C￿pary 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
s￿al investment loan interest
B￿k 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 ln￿trTren1 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 Agr￿￿03Y
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 TO￿kIl
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 d￿all$ for each fth)d are PfovM1ed in Ihe refe￿nCe0 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$i9n. tjevelop and launch the Loans for Enlightened
Agriculture Programme The funding also fvnded a feasibblity study on access to land for agroecology and
continued work on our social impact toolkit. Remaining funds were used lo suppNi the IMp￿menta￿.On of LEAP.
c The charity manage$ 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. Carr￿n9 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$. Grants for successful appltcants to LEAP
are provided by the Halleria TfLlSt.
d The Power to Chan9e Foundakn"on provhieda grant to prO￿de support and advice to LEAP investees located in
England in areas such as business planning. finanoal forecastsng. govemance. and impact mèasurèment
e The Esmée Fairbaim Foundation provided a grant to wovide support and aoknce to LEAP iftvestees It)¢ated
outside of England in areas 5uth as bu5ine55 planning. finanryal fore¢•str"ng, governan￿, and soaal impact
measurement.
f The Power to Change Foundatton provided a grant to the charity for the further development of a Soaal Impaci
Toolkit for communrty food businesses in partnership vthh Coventy Universrty's Centre for AgroecKJ*y,. Water and
Resilience. This toolkit is being used to measure the social impact delivered by LEAP investees.
g Th& FEA {Oth&rl fvnds wwe from vawiou5 fvnder5 for mentoring and semfftar wort.
h Thi$ 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 W￿re ￿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 gr￿Ing 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$t, the w18 of
Intstee.
13 Voluntsers
' In 8xordanc* with FFIS102. the value of vohJnteer tvme is not recognised m Ihe ac￿Jnts..The contrbulb)n of volunteers 1$
reported on in Ihe Trustees. Report.
14 Grant Expendllure
2021
2020
The Now Project
BrvJhion & Hove Food Pannership
'Cyreni8T15
Organic L•a
Locavore
S￿1 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 Infornia￿oft
The Real Famin9 Trnst is a <*arIta￿ tompaAy. wtste￿d CrynpWI￿ House aThJ the Charity Cornmission for En9larKI and
Wale$
ement
owisin
and Expenditure from 201￿20."
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 IPoA*r to Chan9el
Loans for EnlHJhlened AgrKutture Pr￿rarnrne ILW)
LEAP menloriry (England)
LEAP menlorirs I￿$¢ Qf VKI
.So¢ial Impa¢t Toolkit
FEA Other
Collaborative Learnin9 abovt Irtnovat￿ Land Strate9*S
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 COnfe￿Tr
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