THE FARMING COMMUNITY NETWORK (A CHARIT ABLE COMPANY LIMITED BY GUARANTEE) Annual report and financial statements for the year ended 31 March 2024 Company number.. 04429778 Charity number: 1095919 @FCN
THE FARMING COMMUNITY NETWORK (A CHARIT ABLE COMPANY LIMITED B Y GUARANTEE) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Pages Charity references and Administrative Details Statement of public benefit Introduction from Chairmen Introduction from CEO Trustees, Report (including Directors, report) Auditors, report 10-12 Statement of financial activities Balance sheet 14 Statement of Cashflows 15 Notes to the financial statements 16-21
THE FARMING COMMUNITY NETWORK (A CHARIT ABLE COMPANY LIMITED B Y GUARANTEE) CHARITY REFERENCES AND ADMINISTRATIVE DETAILS Charity number.. 1095919 Company number.. 04429778 DIRECTORS The directors of the charitable company are its trustees for the purposes of charity law. The directors serving during the year and since the year end were as follows.. Mark Suthern (Chair) Sally Steadman (Vice Chair) David Lodder DL (Treasurer) Giles Bowring DL Barbara Bray The Rev. Canon Barbara Clutton - Resigned 25 October 2023 Amy Dixon Peter Haver8 Olivia Helmore Sir Mark Hudson Bishop Mark Rylands Robert Walrond Revd Matthew Jeffrey- Appointed 31 October 2023 Roger Mercer- Appointed 31 October 2023 Stuart Roberts- Appointed 31 October 2023 SECRETARY Deborah Roe SENIOR MANAGEMENT PERSONNEL Jude Mccann (Chief Executive Officer) REGISTERED OFFICE AND OPERATIONAL ADDRESS Manor Farm West Haddon Northamptonshire NN6 7AQ AUDITORS Daffems LLP One Eastwood Harry Weston Road Binley Business Park Coventry CV3 2U8 INVESTMENT MANAGERS Rathbones Brothers PIC 8 Finsbury Circus London EC2M 7AZ SOLICITORS Lodders Solicitors LLP Number Ten Elm Court Arden Street stratford upon Avon CV37 6PA BANKERS Royal Bank of Scotland 36 St Andrews Square Edinburgh EH2 2YB
THE FARMING COMMUNITY NETWORK (A CHARIT ABLE COMPANY LIMITED B Y GUARANTEE) STATEMENT OF PUBLIC BENEFIT "The Objects of the Charlty are the relief of hardship and distress, amongst persons living and working in the agricultural, horticultural and related communities, by the provision of pastoral and practical support underpinned by a Christian ethos.. All services are made available to those in need from all faiths and none in a non-judgemental, non- proselytising but supportive way. Public Benefits 1. National Helpline. The national confidential helpline is open from 7 am to 11 pm every day of the year, staffed by a team of volunteers. Talking with someone who understands farming but is not directly involved in the situation can be a real support in itself, but when appropriate, callers are offered a visit from an FCN volunteer by referral through the co-ordinator local to the caller 2. Volunt88rs'. Around 400 volunteers who are 'in sympathy, with the Christian ethos, suitably experienced and in-touch with rural and farming issues, are recruited, DBS Checked and appropriately trained lo 'walk with, farmers and their families through times of stress and personal difficulty. Referrals to individual volunteers are made through the local FCN County Co-ordinalorwho is also responsible for the co-ordination and training of volunteers within their Group and liaison with their Regional Director and Head Office for all administrative and policy issues. 3. Chrlstlan ethos: The Charity has a clear Christian ethos which is inherent within its foundation, board of tru5t8es and charitable objects, which is reflected in its published Vision and Ethos Statements, whilst sustaining the principle that all services are made available to those in need from all faiths and none in a non-judgem8ntal, non-proselytising but supportive way. 4. Partnershlps: To ensure national coverage, and to respect the territories of other independent farming and rural support seNices, FCN has 'memoranda of understanding, with those organisations that facilitate cross referrals of clients, access to the FCN Helpline, sharing of expertise and experience and consortia bidding from national funding sources 5. Uptake: The demand for FCN'S services fluctuates with the level of causal factors within the industry, so that through a national crisis such as the foot and mouth epidemic in 2001, the scale can be almost oVehelmIng However the nature offamiing is such that even when the industry is operating under 'normal' conditions, individual businesses and families will experience periods of significant stress because of circumstances specific to the family or business so that a steady demand on FCN volunteers to manage beeen 1,500 and 2,500 cases per year is typical. Further statistical details of uptake, nature of the difficulty and routes of referral are described later in this document. Details of FCN'S services. operats-ons and policies are available on the website at: www.fcn.org.uk
THE FARMING COMMUNITY NETWORK (A CHARIT ABLE COMPANY LIMITED B Y GUARANTEE) Navigating a changing agricultural landscape - Mark Suthern, Chair, FCN Board of Trustees As we approach FCN'S 30th anniversary next year. now is a timely opportunity to reflect on the achievements of FCN, and how we have developed to meet the changing needs of the farming sector over the years. From our earliest days as The Farm Crisis Network - established as a joint venture beeen the Agricultural Christian Fellowship and Germinate.. The Arthur Rank Centre to where we find ourselves today, our journey is one that has been shaped by the agricultural sector, and the need to respond to the ever-changing pressures and challenges British farmers face. In the last five years, since FCN last set out our strategic priorities, so much has continued to change. The Covid- 19 pandemic upheaved established systems and fundamentally altered the nature of how rnuch of society works, operates and interacts. Global conflicts have disrupted supply chains, increased energy and input costs, and have thrust food security into the forefront of the political agenda. Against a backdrop of volatility and uncertainty, one thing remains clear - British farmers are essential and must continue to be supported and valued by the wider society. We arefortunate within FCN thetwe have such a dedicated and hard-working t8am of volunteers, staff and trustees. Our youngest volunteer is 22 and our oldest is 96- this is an incredible breadth of experience and helps to highlight that FCN is here for all within our farming community., from those who are taking their first steps into farmlng, to those who have farmed for decades. We also have slgnificant expertlse withln FCN from across the wider agricultural sector, which is reflected through our expansive neOrk of partners and supporters. We regularly collaborate with farm vets. bankers, Government agencies, researchers, farm support organisations, and others across the sector who are supportive of our work. A collaborative approach is key as we work together to navigate this changing landscape. Ourwork is increasingly focused on helping to supportfarmers beforethey reach a point of crisi5. Through initiatives such as our Farmwell website and local social events, to embarking on our new UK-wide partnership with Macmillan Cancer Support, FCN can play an important role in helping to bring people together, whilst addressing health inequalities in rural communities. We also continue to invest in our core services - ensuring that appropriate training is available to staff and volunteers so that we can continue to provide vital local case-work and helpline support. We are also delighted to have launched our FCN 'Breaking Barriers, Board Apprentlceship last year, which has be8n designed to help young people from underrepfesented groups in agriculture gain Board experience with FCN. Hakeem Oio has brought a fresh perspective to FCN through his experience in the UK agricubtural, food and retail space, and we have all benefited from working with him. On behalf of FCN'S Board of Trustees, I would like to thank all those who choose to support the work of FCN. We are regularly told that it is thanks to FCN thal many are still farming today, and our work is only made possible thanks to those who support us. Whether you are volunteering with us, raising awareness, fundraising, inviting us to speak to your teams, or helping farmers to access our services, you are helping FCN in our mission to create a healthy and resilient future for British farming. Mark Suthern 3 July 2024
THE FARMING COMMUNITY NETWORK (A CHARIT ABLE COMPANY LIMITED B Y GUARANTEE) FCN committed to supporting farming communities - CEO, Jude Mccann Firstly, I would like to sincerely thank all our valued and dedicated volunteers, staff and board members for their time, effort and vital support for FCN and those we serve in our farming communities. Our appreciation is also extended to our generous donors, partners and funders; without your support, FCN would not be here today. We are grateful for everything you do in support of our farming and rural communities. This past year has seen immense support for the work of The Farming Community Network and we simply cannot continue to serve without support from many individuals, businesses, foundations and trusts, fundraising groups as well as from Government. In the current dimate of change, transition and uncertainty, our farming communities are having to make significant decisions for their business, their families and the environment on which their livelihoods depend. Farmers are renowned for being resilient., many will thrive, however for others the coming years will become increasingly Ghallenging. As we approach our 30th birthday, FCN'S ambition to 'walk with, farmers and members of our farming and rural communities in times of difficulty is vital, and is arguably needed now more than ever before. We must all do our part to support our famers, who provide food for every member of society and who manage the land that will help us tackle some our most significant societal challenges including food insecurity, energy challenges and climate change. Whether we work in the fields, in the wider industry, Government or the community and voluntary sector, we must all step up to support and bring about positive change. We in FCN are committed to continuing to develop a proactive approach to our work and we endeavour to adopt a positive response to change. We as FCN staff and volunteers - with our roots firmly embedded in our farming communilies - fully appreciate that farming can be extremely challenging. We believe that the future of our nats'on's existence depends on the people who provide food for us all every day. A strong and healthy farming community is essential. In FCN we are here to Listen, Su ort and Connect. As we consider the challenges that lay ahead, we must recognise that our nation's farming communities are indispensable,. and we must do all w8 can to empower, respect, support and bring hope to everyone. Jude Mccann 3 July 2024
THE FARMING COMMUNITY NETWORK (A CHARIT ABLE COMPANY LIMITED B Y GUARANTEE) TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) The directors, who are also the trustees, present their report and accounts for the year ended 31 March 2024. The directors have adopted the pravision5 of the Statement of Recommended Practice ISORPI "Accounting by Charities" in preparing the annual report and financial statements of the charity. OBJECTIVES AND ACTIVITIES The company limited by guarantee now known as The Farming Community NeOrk IFCN) took over the assets and activities on 1 June 2002 of the unincorporated charrty Farm Crisis NeOrk which was founded in 1995 by the Arthur Rank Centre and Agricultural Christian Fellowship. The Memorandum of Association states.. "The objects of the charity are the relief of hardship and distress, amongst persons living and working in the agricultural, horticultural and related communities, by the provision of pastoral and practical support underpinned by a Christian ethos." The activlb'es of FCN are available to all in the agricultural and related spheres of life providing the following services.. Pastoral and practical support, care and listening to people in crisis (by phone, face to face or through the internet) Information and networking service to people, primarily through on-farm visiting with a holistic approach to both farm household and business Advocacy on behalf of such people (e.g. for tenant farmers in discussion with landlords, agents or for farmers in discussion with banks, creditors or regulatory agencies) OUR MISSION Our mission is to provide pastoral and practical support to the faming community. OURAPPROACH We offer independent, objective and personal support to build resilience and stay strong through changing times. We aim to provide help before problems arise, as well as supporting those who are experiencing dlfficulty or crisis. We do this in four ways.. 1. Through our confidential Helpline, open every day from 7am - 11pm 2. Through our wide neOrk of local volunteers and partners 3. Through our Farmwell initiative an information resource on all aspects of personal and farm business resilience 4. Through highlighting the issues being experienced by our farming communities and increasing awareness of FCN OUR ETHOS FCN is a voluntary organisation and charity founded on Christian principles. We walk with farmers and members of the farming community in times of drfficulty. We are here to support and work with everyone who seeks the help of FCN. Our strategic priorities Helping to improv8 the health and wellbeing of our fami community This year FCN has helped to support the health and wellbeing of the farm community in a wide variety of ways. STATEMENT OF PUBLIC BENEFIT Please see page 3.
THE FARMING COMMUNITY NETWORK (A CHARIT ABLE COMPANY LIMITED B Y GUARANTEE) DIRECTORS The directors of the charitable company are its trustees for the purposes of charty law. The directors serving during the year and since the year end were as follows.. Mark Suthern (Chairman) Giles Bowring Barbara Bray Barbara Clutton - Resigned 25 October 2023 Amy Dixon Peter Havers Olivia Helmore Mark Hudson David Lodder Mark Rylands Sally Steadman Robert Walrond Matthew Jeffrey- Appointed 31 October 2023 Roger Mercer- Appointed 31 October 2023 Stuart Roberts - Appointed 31 October 2023 FINANCIAL REVIEW 2023-24 The year has seen a huge increase in energy prices, resulting in a 'cost of living, crisis throughout the UK. There has also been continued uncertainty as to the future of the agricultural sector. The demand for the services of FCN has continued unabated. For the first time in its history FCN raised more than £1 million in income during the fi'nancial year 2023-24. Once again this was due to a high level of legacy income helped by some large donations from FCN'S corporate partners. This increase in income is a result of the increased awareness of FCN at all levels and brought about by the hard work of those working and volunteering with FCN. FCN has no endowment income and is reliant on the income it can raise and generate each year. It continues to develop altemative income streams so that it is not overly dependent on any one., such as lagacies. which are very unpredictable. With a surplus this year, FCN has been able to set aside a further£350,000 for long-term investment, thus increasing the resilience of the charity. Income Income came in at £1,355,802 (exceeding £1 million for the first time), an increase of 410A compared with £962,607 for 2022-23. Income from corporates increased by 176O/a to £361,352 (£131,011 for 2022-23), which reaffinns the Importance of developing these relationships. Legacy income also increased by 132 %, with FCN receiving £233,319 for 2023- 24 (£100,459 for 2022-23). Trust income fell slightly by 100/0 to £224,863 (£250,815 for 2022-23). Expendlture Expenditure increased for the year by 100k at £1.009.262. compared with £913,484 for 2022-23. The majority of that increase was spent on those working at the 'grass roots, of the charity. Wth the continued 'cost of living, challenges, the trustees agreed a 50kn pay increase for all staff within FCN and at the same time increased its pension contributions to 100h of salary. FCN saw an end of year surplus (net income) of £346,540. This all resulted in a positive nel movement in funds of £428,290 after gains on investments. We are extremely grateful to all donors for their continued generosity. We are conscious that to build a resilient charty we need a broad spread of donors and must not become over-r8liant on certain funding streams. FCN still needs to continue to generate funding on a year-to-year basis to enable it to operate. The reserve fund will give the charity resilien against the unpredictsbility of the future.
THE FARMING COMMUNITY NETWORK (A CHARIT ABLE COMPANY LIMITED B Y GUARANTEE) STRUCTURE, GOVERNANCE AND MANAGEMENT GovERNANce Over the past few years, the trustees have been strengthening the govemance of FCN with the formation of committees dealing with Governance, Audit and Risk, Nominations, and Investment with each committee being authorised to make recommendations to the Board. LEGAL AND ADMINI8TrATIVE INFORMATION The Farming Community NeOrk is a company limited by guarantee and a registered charity governed by its memorandum and articles of association dated 8 May 2013. In the event of the organisation being wound up each trustee agrees to contribute £1 towards the costs of dissolution. The company is also registered with the Charity Commission for England & Wales. AppoiKrMENT OF DIRECTORS The maximum number of directors is 12. The Articles of Association were amended by Special Resolution on 30th October 2019 to reduce the maximum length of continuous service to 9. One of the directors should be nominated by the Agricultural Christian Fellowship and 1 nominated by the Arthur Rank Centre. One third of the Board of Directors should retire at each Annual General Meeting. DIRÉCTOR INDUCTION AND TRAINING New directors undergo training as to their legal obligations under charity and company law and are presented with copies of the Memorandum and Articles of Association as well as FCN policy documentswhich have been approved by the Board. The induction process involves meeting the national staff and other directors. Directors are encouraged to attend training events every 3 years. ORGANISATION The Board of Directors meels quarterly to admlnister the charity and receiv8 reports on finance, acts'vities and fundraising. Other items are reported as necessary. Day to day management of FCN is delegated by the Board to the Chief Executive. RELATED PARTIES FCN has no related parties; however close working relationships are maintained with the Arthur Rank Centre and the Agricultural Christian Fellowship. One director is nominated by ARC and one by ACF for representation on the Board of FCN. RISK MANAGEMENT The Board has undertaken a review of risk and the identified causes have been categorised as relating to.. People Propety & finance Reputation The review of risks has led to the implementation of policies almed at lowering the risks to which FCN Is exposed as well as designated procedures should an incident occur. The Risk Management policy document is reviewed regularly and updated lo ensure it is as up to date as possible. LOOKING AHEAD: OUR FUTURE STRATEOY 2020-2025 FCN is currently four years into a five-year strategy for the organisation. INhile there is little doubt that the farming community will continue to experience significant change and restructuring, FCN remains steadfast in supporting those who need help in the farming community. Mthile farming families will have to adapt and change so too will FCN. Together we face the future with hope, optimism and a renewed commitment to serve those who seek our support. Our strate External.. riorlties.. rove the health and wellbeing of the farming community Su Lort farm businesses through change and build resilience Connect the farming community to appropriate support Inform future policy decisions by being a cham ion for the famiing community
THE FARMING COMMUNITY NETWORK {A CHARIT ABLE COMPANY LIMITED BY GUARANTEE) Internal: Develop the skills, support and duty of care for volunteers delivering our front-line senilS Build awareness and engagement of FCN in the agricultural community Ensure the financial sustainability of FCN Refine our operations and organisation to stay relevant in a changing industry Be a catalyst for shaping fvture agricultural support services in the UK RESERVES POUCY It is the policy to maintain unrestricted funds excluding designated funds, which are free reserves of the Charity of approximately 18 months of unrestricted expenditure. Free reseeS at 31 March 2024 were £1,161,122 compared with unrestricted annual expenditure of £684,220. TRUSTEES, RESPONSIBILITIES STATEMENT The trustees {who are also directors of The Farming Community Network for the purposes of company law) are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP 2019 IFRS 102)., make judgements and estimates that are reasonable and prudent., state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in th& financial statements; prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charitable company will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial posilion of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregulanties. STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS So far as the trustees are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each trustee has taken all the steps that they ought to have taken as a trustee In order to make themself aware of any relevant audit information and to establish that the charity's auditors are aware of that information. GOING CONCERN After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly. they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in note 1 of the financial statements. This report has been prepared having taken advantage of the small companies exemption in the Companies Act 2006. Signed on behalf of the Directors on 3 July 2024. DRoe Secretary
THE FARMING COMMUNITY NETWORK (A CHARIT ABLE COMPANY LIMITED B Y GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES AND MEMBERS OF THE FARMING COMMUNITY NETWORK Opinion We have aLKlited the financial statements of The Famiing Community Nthork (the "charitable company) for the year ended 31 March 2024 which compnse a statement of financial activities, a balan sheet and notes to the finarla1 statements, including a summary ofsignificant accounting policies. The financial reporting framework Ihat has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdorn Generally Accepted Accounting Practi). In our opinion the financial statements.. ' give a true and fairview ofthe state ofthe charitable company's affairs as at 31 March 2024, and of its incomirvJ resources and application of resources, including its income and expenditure, for the year then ended,. . have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and . have teen prepared in accordance with the requirements of the Companies A(a 20C6 and the Charities Act 2011. Basis for oplnlon We conducted our audit in accordance with Intemational Standards on Audtting (UK) (ISAS (UKI) and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the financial statements section ofour report. We are independent ofthe charilable company in accordance with the ethical requiremerts that are relwant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtsined 15 sufficient and appropriate to provide a basis for our oynion. Concluslons relatlng to golng concern In auditing the financial statements, we have conduded that the trustees, use of the going concem basis of accounting in the preparatiijn of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast signrficant doubt on the charrtable company's ability to continue as a going cOnM a period of at least e5ve months from when the financial statements are authorised for issue. Our resp)nsibilities and the responsibilitss of the trustees w7 respect to going concern ara descrfbed In the relevant sects'ons ofthis report. other Information The other information comprises the information Iruded in the trustees annual report, other than the ffinancial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does rnt cover the other informats'on and, except to the extent otherwise explicit ststed in our report, we do not express any fom of assurance condusion thereon. Our reSpsibIlIty is to read the other infomialion and, in doing so, consider whether the other information is materialty inconsistent wth the financial statements or our kn¢Mledge obtained in the course of the audit or olherwse appears to Èe materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to detemiine whether this gives rise to a material misstatement in the financial ststements themselves. If, based on the wort( we have perfonned, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. 10
THE FARMING COMMUNITY NETWORK (A CHARIT ABLE COMPANY LIMITED B Y GUARANTEE) Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course ofthe audit . the infomiation given in the trustees, report (incorporating the direct(Ys' report) for the financial year for which the financial stments are wepared is consistent wth the finala1 stments,' and . the directors, report has been prepared in accordance wth applicable legal reqU1Ments. Matters on which we are required to report by exception In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audrt, we have not identified material misstatements in Ihe directors, repcrt. We have nothing to report in respect of the following matters in relation to vthich the Companies Act 2006 and the Charilies Act 2011 requires us to report to you rf, in our opinion.. • adequate and proper accounting records have not been kept, or retums adequate for our audit have not been received from branches not visited by us., or . the financial statements are not in agreement wth the accountlng records and retums., or • certain disdosures of directors, remunerati specffied by law are not made,. or • vle have ncé CeIVed all the lnft)rMati and explanations we require for our audit.; or . the truslees were not entitled to prepare the financial statements in accordance wrth the small companie5, regime and take advantage of the small companies, exempts'ons in preparing the directors, report and from the requirement to prepare a stralegic report. other Matter The comparative figures are unaudrted. Responslbilities of trustees A5 explained more fully in the trustees, responsibilities statement, set out on page 9, the trustees (who are also the directors of the charitable company for the purposes of company law} are responsible for the Ffeparatson of the financial statements and for being sthsfied that they give a true and fairview, and for such intemal control as the trustees determine is necessary to enabl8 the preparatson of financial ststements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsiblefor assessing the charitable compary's ability to continue as a going corErn, disclosing, as applicable, matters related to going conrn and using the going concern basis of accounting unless the trustees either intend to liquidale the charitable company or to aSe operations, or have no realistic altemative Ixrt to do so. Auditor's responsibilities for the audlt of the flnanclal statements have been aprointed auditor under the Companies Act 2006 and section 151 of the Charities Act 2011 and report in accordance with those Acts. Our objectives are to obtain reasonable assurance abjut whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to Issue an audrtor's report that includes our opinion. Reasonable assurance is a high level of assuran bjt is not a guarantee that an audit conducted in accordan vthth ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material rf, individualty or in the aggregate, they could reasonably be expected to Influen the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are InStsn5 of n0nwcomp1iae wtih laws and regulations. We design prOdureS in line with our responsibilities, outlined atove, to detect material misstatements in respect of irregularities. including fraud. The specific PredureS for this engagement and the extent to which these are capable of detecting irregularities, induding fraLvJ is detailed below. . Enquiry of management. charged with governance around actual and potenlial litigation and clams., . Enquiry of ents'ty staff in 0)mplian fvnctions to KJent"fy any instances of non-compliance with laws and regulations" . Reviewng minutes of meets'ngs of those charged with governan.
THE FARMING COMMUNITY NETWORK (A CHARIT ABLE COMPANY LIMITED B Y GUARANTEE) . Reviewing finarla1 statement disdosures and testing to suppjrting documentstion to assess compliance with applicable laws and regulalions. . Performing audit work over the risk of management override of controls, including testing of joumal entries and other adjustments for appropriateness, evaluating the business rationale of signfficant tpnsactions OLrtside the nomial course of business and reviewng accountrng estimates for kn"as. Because of the inherent limrtations of an audit, there is a risk that we will not detect all irregularitEs, including those leading to a material misstatement in the financial statements or non-compliance wth regulthon. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected In the financial statements. as we will be less likety to become aware of instances of non-compliants. The risk is also greater regarding irregulants'es occurring due to fraud rather than error, as fraud involves intentional Conalment, forgery, collusion, omission or misrepresentation. A further description of our resp)nsibilities is available on the Financial Repoiting Counal's website at https..l.frC org.uklOur-WorklAUdAudrt-and-asSuranStandardS-an1kgUIdanCeIStandardS-and-guldanCe-f0r- auditorslAudrtors-responsibilrti&8-for-audillDescriptioTrof-auditor&responsibiliti&Swfor-aLKIrt.aspx. This description foms part of our auditor's report. Use of our report This report is made solety to the chantable company's members, as a body, in acthance with Chapter 3 of Part 16 of the Companies Act 2006 and to the charitable company's Iruslees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audrt work has been undertaken so that we might state to the chantable company's members and its trustees those matters we are required to state to them in an auditor's rep)rt and for no other purpose. To the fullest extent permed by law, we do rK)t accept or assume resFonsibility to anyone other than the charitable company and the chan'table company's members as a body and the chantable company's trustees as a body, for our audit work, for this reptyt, or for the opinions we have fomed. Signed.. G R Cox BA FCA (Senior Statuiory Auditor) For and on Èehalf of Daffems LLP Chartered Accountants statutory Auditor One Easknd Hary Weston Road Binley Business Park Coventry CV3 2UB Date.. 3 July 2024 12
THE FARMING COMMUNITY NETWORK (A CHARIT A8LE COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE AccouNT for the year ended 31 March 2024 Gener Unrt$lricted fund5 De$wnated Unrestrict• funds Reslricled fund8 Tctsl 2024 Notes 2023 INCOME Donatlons and lega¢le8 710.251 $28,821 1.239,072 837.940 Incomo from charltablo actlvlti Resourcbro programmes 103.757 103.757 117,596 Incomo from oth•r dIng •¢tlvltle• Inve$tment income 12.gn 12,973 7,071 Total incom• 826.981 1 355 802 962,607 ExpENtITURE Cost of iaising ftJrKis Charitable aclivilie8 rolal expéndlturè 59.499 624,721 684.220 6,532 318,510 325 042 66,031 59,111 854,373 1,009,262 142,761 203 779 49.123 Nel transfer8 ten frJnd8 138,8771 3B.877 Gwnslllosses on inveslmenl$ 21,688 NET MOVEMENT IN FUNDS 203,779 27,435 Fund balarThs brought forward 16 975,488 317,123 97,999 1,390,610 1,363,175 FUNO 8ALANCES CARRIEO FORWARD 1,161,122 358.000 301,778 1818 900 1.390.610 The notes on pages 16 to 21 fomi an irrtegral part of these finar£ial statements.
THE FARMING COMMUNITY NETWORK (A CHARIT ABLE COMPANY LIMITED B Y GUARANTEE) BALANCE SHEET as at 31 March 2024 COMPANY REGISTRATION NUMBER: 04429778 Note5 2024 2023 FIXED ASSETS Tangible assets Investments 15.664 524.932 540.5 12 451.200 451.200 CURRENT ASSETS Oeblors Bank and cash balances 13 25,875 1,389,984 1,415,869 3,590 884,687 888,277 CREDITORS.. amounts falllng due within one year 14 148,1691 138,2631 NET CLIRRENT ASSETS 1,367,700 850.014 TOTAL ASSETS LESS CURRENT LIABILITrES 1,818,900 1.390,810 INCOME FUNOS Unreslricled funds General Designated Restricted fund8 16 1,161,122 366,000 301.778 1,818.900 975,488 317,123 97,999 1,390,610 18 18 These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime and in accordance with FRS 102 SORP. The financial statements were epproved by the Directors on 3 July 2024 and signed on their behalf by.. M A E Suthern Director The notes on pages 16 to 21 fomi an integral part of these financial ststements. 14
THE FARMING COMMUNITY NETWORK (A CHARIT ABLE COMPANY LIMITED B Y GUARANTEE) STATEMENT OF CASHFLOWS For the year ended 31 March 2024 Notes 2024 2023 CASH FLOWS FROM OPERATING ACTIWTIES Nel inccffiel lexpernlilurel for the year Adjustments for.. Depredation Ilncreasell decrease In debtors Increasel Idecieasel In creditors Interest recelved Revaluation Igalnll loss on inveslmenl Net cash froml Ius•d Inl opgrnling aGtlvlll•s 428,290 27.435 15,664 122.2851 9,896 112.9731 181,7501 336.842 13.110 14.865 12,3321 17,071) 21,688 67.695 13 14 12 CASH FL¢)WS FROM INVESTING ACTllnTleS Sale of Investments Purchase of langible fixed a85ets Purchase of investments Interest received Net cash froml luwl) In Invwtlng actlvltles 12 434.231 12 1278.7491 12.973 168,45S 7.071 7.071 CHANGE IN CASH ANO CASH EQUIVALENT8 IN THE YEAR 505.297 74,786 C98h and ca8h eqL5iV8lenls brought forward 884,687 809,921 CASH AND CASH EQUIVALENTS CAIIRIED FORWARD 1.389.984 884.687 ANALYSIS OF CHANGe8 IN NeT OE8T Cash and c88h equlv81ent8 1,389.984 884,687 The notes on pages 16 to 21 fomi an int8gral part of these financial ststements.
THE FARMING COMMUNITY NETWORK (A CHARIT ABLE COMPANY LIMITED B Y GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS at 31 March 2024 AccouNTING POLICIES Company and charitable status The Famiing Community NeOrk. a public benefit entity, is incorporated in England and Wales as a company limited by guarantee not having a share capital. Each member has undertaken to contribute to the assets in the event of winding up a sum not exceeding £1. The charitable company is a registered charity. The registered office is given on page 2. Basis of preparatlon and assessment of going concem The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value, in accordance with the Statement of Recommended Practice "Accounting and Reporting by Charities ISORP 2019)" applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the UK and Republic of Ireland (FRS 102), issued in October 2019, the Companies Act 2006 and UK Generally Accepted Accounting Practice. The significant accounting policies applied in the preparation of these financial st8tements are set out below. These policies have been consistently applied to all years presented unless otherwise staled. Funds General funds are unrestricted funds which are available for use at the discretion of the Directors in furtherance of the general objectives of the charity and which have not been design8ted for other purposes Desi nated funds are unrestricted funds set aside by the Directors out of unrestricted general funds for specific future purposes or projects. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost5 of raising and administering such funds are charged against the specific fund. Income recognition All incoming resources are included in the Statement of Financial Activities ISOFAI when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of perfomiance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable thal they will be fulfilled. No amount is included in the financial statements for volunteer time in line with the SORP. Further detsil is given in the Trustees, Annual Report. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed. Expenditure recognition All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. Taxatlon The charity is an exempt charity within the meaning of schedul8 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. 16
THE FARMING COMMUNITY NETWORK (A CHARIT ABLE COMPANY LIMITED B Y GUARANTEE) Tanglble Fixed assets and depreciation Tangible fixed assets are initially recorded at cost. Depreciation is provided on all fixed assets at rates calculated to write off the cost, less estimated residual value based on prices prevailing at the date of acquisition, of each asset evenly over its expected useful life as follows.. offi equipment 3 years straight line Investments Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequenlly, they are measured at fair value with changes recognised in 'Gainslllosses) on investments, in the SOFA if the shares are publicly traded or the fair value can otheMise be measured reliably. Going concern The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient wlth the level of reserves for the charity to be able to continue as a going concem. CRincAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIPMTION UNCERTAINTY In the application of the charity's accounting policies, which are described in note 1, the Directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimate5 and underlying assumptions are reviewed on an ongoing basls. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods rf the revision affects both current and future periods. The Directors do not consider there are any critical judgements or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed above. INCOME- DONATIONS AND LEGACIES Ger81 Unrestncted Rastrfdad 2024 2023 Voluntary Income From churches From events & actlvSlles From Individuals and other organlsallon8 Legaae8 Glft aid lax refunded Grant$ received 18ee note 41 49,4( 3.647 29,365 210,2(? 3,904 53,053 29,366 398,867 233,319 11,447 513,021 1,239,072 49.318 5.079 190,678 100,459 7.512 484,894 188,667 229,415 11,447 231,316 710,251 281,705 528.821 For 2023, £535.005 was general unreslricled income and £302.935 wa8 restricted income. 17
THE FARMING COMMUNITY NETWORK (A CHARIT ABLE COMPANY LIMITED B Y GUARANTEE) GRANTS RECEIVED Gener UnrestAded Restricted 2024 2D23 DEFRA and Regional Development Agencles Rlchard Oattey Foundation NFU Mutual Charitable Trust Westminster Foundatton P D Hook Ltd Cereal Fruits E L Flemming Chari18ble Trust Mercer Family Krislina Martin Charitable Trust Belty Lawes FoundatlDn Deepest Books Agrowsla Hutchinson Chadlable Tru81 Hook 2 Sisters Prlnce's Gounlry5ide Fund Quallty Equipment Duchy ol Lancaster Benevolent Fund Lord Leverhulmes Charitable Tru81 Agri Ricardo Diana Startin Charllable Tru81 LKAB LJ8eits LMVVDC Ltd Ar Pilchup Huggale Worfd Farms Cran8wlck OFenfield Rulewood Other grants g £5,000 Total gr Notg 3 1Q2,917 75,000 80,000 102,917 75,000 80,000 103,067 75,000 70,000 30,000 20,000 15,382 10,050 10,000 10,000 10,000 10.000 10.000 8,000 10,000 10,000 10.oc 10.000 10,000 8,000 10,000 10.000 8,000 10,000 3,550 5,125 5,000 5,000 5,025 5,625 5,219 5,219 10,000 10,000 15,082 15,082 5,000 5,000 5,000 4000 s.000 B.000 9,261 21,095 10,000 5,000 15,000 5,000 5,000 9,261 11.095 10,000 10,000 5,000 15,000 5,000 5,000 88,097 216.316 3.350 296 705 74.070 513021 For 2023, £205.759 was general unrestricted grant income and £279,135 was restricted grant income. UNPAID VOLUNTARY SERVICES The value of unpaid voluntary services provided by individuals has n I been included within the Statement of Financial Activities as either income or expenLliture. In the year under review that value is calculated as £290,61012023'. £247,445), represenling entirely volunteer costs Iplease refer to Trustees, Report for further infomatr'onl. If this value wa8 included the Statement of Financial Activities would be VIsed with both income and expenditure increasing by £290,610. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES Actlvltle undertakon dlrecuy Support *1$ Tot Loc81 a¢llty Publiaty Supportlng volunteer8 Training 358,945 150,834 96,080 65,238 671.097 503,175 210.703 134.179 95,174 943.231 59.869 38,099 2g,936 272.134 £318,510 {2023.' £64,518) of the above costs were attributable lo restricted funds. £624,721 12023.. £789,855) of the above costs were attribut3ble to unrestricted funds. 18
THE FARMING COMMUNITY NETWORK (A CHARIT ABLE COMPANY LIMITED BY GUARANTEE) ALLOCATION OF SUPPORT COSTS Supportsng volunlew5 Raislng rund8 acbmty PuNialy Training Subtot81 Total Salaries and wages c08ts Travel Office administration sts Depreaalion Governance costs 73,0(K> 8,804 26.765 8.301 27,360 144.230 30.301 3.655 11,110 19,283 2,326 7.070 2,193 7,227 38,099 15,151 137,735 1,827 16.612 5.555 50,500 1,724 15.664 5.679 51.623 29,936 272.134 46,825 2,175 6,079 184,560 18,787 56,579 15,664 62,575 338.165 11.357 59.869 10,952 66.031 £6,53212023.' £4.8111 of the above raising funds co$ls were attributabl8 to rèstricted funds £59,49912023'. £54,300) of the above raising funds Costs We attributable to unrestricted funds. GOVERNANCE COSTS 2024 2023 Legal and professional fee5 Audit 8nd accountancy Board expenses 29,810 4,600 4,760 39.170 8.628 10.742 62,573 The auditor's remuneration amounts to an audit fee of £5,00012023.- £nill and other services of £3,62612023.. £4,600). STAFF COSTS 2024 2023 Vvages and salaries Soc581 security Gosts other pension c0818 561,061 46,504 55,043 662,808 539,406 43,911 24,495 607,812 The average number of employees, including part-time. during the year was 2212023.. 211. The full time equivalent number wa8 1612023. 161. The company operates a defined contribution pension scheme. The charge for th8 period was £55,043 {2023.' £24,495). The defined contribution liability is allocated lo unrestricted funds. The number of employees who ceiVed total employee benefits {excluding employer pension costs) of more than £60,000 is as follows.. £80.CMJO- £90,000 10 DIRECTORS, REMUNERATION AND KEY MANAGEfvJENT PERSONNEL No remunèration was paid to Directors for their services, and £841 was paid as reimbursement of travel expenses to 3 of the trustees. The lotal amount of employee benefrts received by key management rSonnel is £91,55412023'. £90,628}. 11 TANGIBLE FIXED ASSETS Offire equipment Ct or valuation: Al lri1 2023 Al 31 March 2024 123.105 123 105 DgprgclatS9n: Al 1 April 2023 ear Charge for the L. Al 31 March 2024 107,441 15,664 123,105 Net book value Al 31 Pilarch 2024 A11A ri12023 15.664 19
THE FARMING COMMUNITY NETWORK (A CHARIT ABLE COMPANY LIMITED B Y GUARANTEE) 12 INVESTMENTS 2024 2023 Markel value al 1 April 2023 Acquisition8 al cost Sales proceeds from disposals Gainlllossl in the year Mafkel value 8131 March 2024 524.932 278.749 1434,2311 81,750 451,200 546,620 121.6881 524,932 Inve8lmenls 81 mafk81 value comprlsed.. Rathbone Unil Trust Management Core Investment Fund for Char(ties Income Fund M&G Equllles Inve81menl Fund for Charllles ICharifund} Acc Cash 410,233 40,967 455.OLXI 41,872 28.060 524,932 451.200 13 DE8TORS 2024 2023 Amounts lalllng due wlthln ono year Trade debtors Prepayments and accrued Income Gift Aid lax refund 20,300 675 5.000 25,875 575 3,590 14 CREDITORS 2024 2023 Trade tdI(013 Other taxes and 50dal security other creditors Acuued expenses 6.111 10.270 12,503 11,075 8,500 48,159 6.000 ANALYSIS OF MOVEMENTS IN DEFERRED INCOME: 2024 2023 Al 1 April 2023 Income deferd in year Amount released In year Al 31 March 2024 7,917 7,917 17,917) 7,917 Deferred income represents funding income received in advance. 15 FUNOS ANALYSIS General Unre¥triLl¥d fvnd Desnated Unrestridad fvnd R•atdcted fund 2024 2023 Tangible fixed assets Current assets 451,200 758,081 148,1591 1,161,122 451,200 1,415,859 148,1591 1,818,900 540,5 888.277 138.2631 1,390,610 356,000 301,778 Nel assets 356,000 301,778 16 MOVEMENT IN FUNDS At 1 Apdl 2023 IncK)ming resources Outgng r8sources At31 March 2024 Transfers Restrl¢tqd funds Voluntary income Farmwell 2024-27 support programrnes 97,999 348,821 180.000 1310,0421 115,0001 136,778 165.000 UnrgBtrlctgd lund$ Designated General 317.123 975.488 1,390,610 38.877 {38.8771 356,000 1.161.122 1,818.900 826,981 1,355,802 1602.4701 1927,512) 20
THE FARMING COMMUNITY NETWORK {A CHARIT ABLE COMPANY LIMITED BY GUARANTEE) 17 ULMMATE CONTROLLING PARTY The charfty is urKJerthe control of ils Board of directorsltrustees. 18 RELATED PARTY TRANSACTIONS There are no related paty Iransadions during the perfod12023'. £nlll. 21