# 



## 

## 

|**CONTENTS**|**PAGE**|
|---|---|
|Legal and Administrative details|**1**|
|Trustees' Report|**2**|
|IndependentAuditor's Report|**9**|
|Consolidated StatementofFinancial Activities|**12**|
|Consolidated Balance Sheet|**13**|
|Charitable Company Balance Sheet|**14**|
|Consolidated StatementofCash Flows|**15**|
|Charitable Company StatementofCash Flows|**16**|
|Notes tothe Financial Statements|**17**|





## 

|**UK Company registration number**|05745215||
|---|---|---|
|**UK Charity registration number**|1113864||
|**NZ Charity registration number**|CC41735||
|**Directors and Trustees**|Mr C R Boyes (Chair)||
||Mr S F B Taylor||
||Mr E F P Valletta||
||Mr D HWynne-Finch||
|**Company Secretary**|Mr E F P Valletta||
|**Registered Office**|Roythornes Solicitors Enterprise|Campus|
||AlconburyWeald||
||Huntingdon||
||Cambridgeshire||
||PE28 4XA||
|**Bankers**|Unity TrustBank pic||
||Four Brindley Place||
||Birmingham||
||81 2JB||
|**Investment advisers**|Canaccord Genuity Wealth Management (London)||
||Craigs InvestmentPartners (Auckland)||
|**Solicitors**|Roythornes Solicitors Enterprise|Rennie Cox|
||Campus|Level 15, 126 VincentStreet|
||AlconburyWeald|PO Box6647,|
||Huntingdon|DX CP28002|
||Cambridgeshire|Auckland, 1141, New|
||PE28 4XA|Zealand|
|**Auditors**|RSM UKAuditLLP||
||Blenheim House||
||NewmarketRoad||
||Bury StEdmunds||
||Suffolk||
||IP33 3SB||





## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 



## 

## 

## 



## 

## 

## 

## 



## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 

## 



## 

## 



## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 



## RSM UK Audit LLP 

29/11/21 



## 

||||**General**|**Designated**|**Total Funds**|Total Funds|
|---|---|---|---|---|---|---|
||||**Funds**|**Funds**|**2020**|2019|
||**Note**||£|£|£|£|
|**INCOME FROM**|||||||
|**Charitable activities**|||||||
|Farm income||**2**|1,980,906||**1,980,906**|2,053,486|
|Investments||**3**|25,176||**25,176**|29,113|
|Other||**4**|328||**328**|122,975|
|Total income|||2,006,410||**2,006,410**|2,205,574|
|**EXPENDITURE ON:**|||||||
|**Raising funds**|||||||
|Investment managerfees|||8,877||**8,877**|9,159|
|**Charitable activities**|||||||
|Charitable grants||**5**|48,850||**48,850**|85,721|
|Charitable donations||**6**||||1,019|
|Costs relating tofarming||7|1,729,458|157,060|**1,886,518**|2,017,275|
|**TOTAL EXPENDITURE**|||1,787,185|157,060|**1,944,245**|2,113,174|
|**NET INCOME BEFORE**|||||||
|**GAINS/(LOSSES)**|||219,225|(157,060)|**62,165**|92,400|
|Netgains on investments||**12**||(45,352)|**(45,352)**|(161,311)|
|**NET INCOME/(EXPENDITURE) **||**10**|219,225|(202,412)|**16,813**|(68,911)|
|TRANSFERS BETWEEN|||||||
|FUNDS||**18**|(180,258)|180,258|||
|**NET MOVEMENT IN FUNDS**|||38,967|(22,154)|**16,813**|(68,911)|
|**RECONCILIATION OF FUNDS**|||||||
|Fund balances brought forward|||||||
|at 1 July|||2,073,496|7,016,197|**9,089,693**|9,158,604|
|**Total funds carried forward at**|||||||
|**30 June**||**19**|2,112,463|6,994,043|**9,106,506**|9,089,693|





## 

## 

|||**2020**||**2019**||
|---|---|---|---|---|---|
|**Note**||£|£|£|£|
|**FIXED ASSETS**||||||
|Tangible assets|**11**||**10,594,533**||10,782,548|
|Investments|**12**||**1,005,766**||1,172,899|
|**TOTAL FIXED ASSETS**|||**11,600,299**||11,955,447|
|**CURRENT ASSETS**||||||
|Stocks|**14**|**1,889,906**||1,993,261||
|Debtors|**15**|**52,430**||107,140||
|Cash at bank and in hand||**277,932**||231,138||
|||**2,220,268**||2,331,539||
|**LIABILITIES**||||||
|Creditors: amounts falling due within one year|**16**|**(107,805)**||(258,043)||
|**NET CURRENT ASSETS**|||**2,112,463**||2,073,496|
|**TOTAL ASSETS LESS CURRENT LIABILITIES**|||**13,712,762**||14,028,943|
|**CREDITORS: amounts falling due after more**|17|||||
|thanone**year**|||**(4,606,256)**||(4,939,250)|
|**TOTAL NET ASSETS**|||**9,106,506**||9,089,693|
|**FUNDS AND RESERVES**||||||
|Designated fund|**18**||**6,994,043**||7,016,197|
|General fund|||**2,112,463**||2,073,496|
|**TOTAL FUNDS**||||||
||**19**||**9,106,506**||9,089,693|





## 

## 

## 

|||**2020**||**2019**||
|---|---|---|---|---|---|
|**Note**||£|£|£|£|
|**FIXED ASSETS**||||||
|Tangible assets|**11**||**10,459,103**||10,640,682|
|Investments|**12**||**480,221**||631,230|
|Investment in subsidiary undertaking|**13**||**38**||38|
|**TOTAL FIXED ASSETS**|||**10,939,362**||11,271,950|
|**CURRENT ASSETS**||||||
|Debtors|**15**|**2,598**||36,450||
|Cash at bank and in hand||**277,872**||231,077||
|||**280,470**||267,527||
|**LIABILITIES**||||||
|Creditors: amounts falling due within one year|**16**|**(1,392,802)**||(1,487,393)||
|**NET CURRENT LIABILITIES**|||**(1,112,332)**||(1,219,866)|
|**TOTAL ASSETS LESS CURRENT LIABILITIES**|||**9,827,030**||10,052,084|
|**CREDITORS: amounts falling due after more**|**17**|||||
|**than** one**year**|||**(1,040,962)**||(1,188,590)|
|**TOTAL NET ASSETS**|||**8,786,068**||8,863,494|
|**FUNDS AND RESERVES**||||||
|Designated fund|**18**||**9,898,400**||10,083,360|
|General fund|||**(1,112,332)**||(1,219,866)|
|**TOTAL FUNDS**|**19**||**8,786,068**||8,863,494|





## 

||**Notes**|**2020**|2019|
|---|---|---|---|
|**Cash flows from operating activities:**||||
|Net cash provided by operating activities|**A**|**602,947**|606,656|
|**Cash flows from investing activities:**||||
|Investment income||**25,176**|29,113|
|Loan interest paid||**(235,673)**|(263,453)|
|Purchase of tangible fixed assets||**(64,925)**|(54,588)|
|Proceeds from the disposal of tangible fixed assets||**4,571**||
|Proceeds from the disposal of investments||**228,096**|262,408|
|Purchase of investments||**(117,949)**|(262,725)|
|**Net cash used in investing activities**||**(160,704)**|(289,245)|
|**Cash flows from financing activities:**||||
|Loan advances|||1,320,655|
|Loans repaid||**(256,351)**|(1,925,636)|
|**Net cash provided by financing activities**||**(256,351)**|(604,981)|
|Change in cash and cash equivalents in the year||**185,892**|(287,570)|
|Cash and cash equivalents as 1 July|**B**|**113,095**|333,577|
|Exchange difference on cash and cash equivalents||**(21,478)**|67,088|
|Cash and cash equivalents as 30 June|**B**|**277,509**|113,095|



||**Net income**|**16,813**|(68,910)|
|---|---|---|---|
||**Adjustments for:**|||
||Depreciation charge|**246,905**|250,698|
||Gains on investments|**45,352**|161,310|
||(Gains)/losses on foreign exchange|**(40,080)**|71,197|
||Losses on disposal of fixed assets|**1,464**|8,494|
||Investment income and interest receivable including rent receivable|**(25,176)**|(29,113)|
||Interest payable|**235,673**|263,453|
||Decrease/(increase) in stocks|**103,355**|(71,350)|
||Decrease/(increase) in debtors|**54,711**|(9,902)|
||(Decrease)/increase in creditors|**(36,070)**|30,779|
||**Net cash provided by operating activities**|**602,947**|606,656|
|**B**|**Analysis of cash and cash equivalents**|||
||Cash at bank and in hand|**277,932**|231,138|
||Cash held by investment managers|**10,393**|6,941|
||Bank overdraft|**(10,816)**|(124,984)|
||**Total cash and cash equivalents**|**277,509**|113,095|





## 

|||**Notes**|**2020**|2019|
|---|---|---|---|---|
|**Cash flows from operating activities:**|||||
||Netcash used in by operating activities|**A**|**(78,878)**|(233,019)|
|**Cash flows from investing activities:**|||||
||Investmentincome||**199,642**|209,024|
||Loan interestpaid||**(44,433)**|(69,884)|
||Purchase oftangible fixed assets||**(30,758)**||
||Proceeds fromthe disposal ofinvestments||**228,096**|262,408|
||Purchase ofinvestments||**(113,483)**|(125,219)|
|**Net cash used in investing activities**|||**239,064**|276,329|
|**Cash flows from financing activities:**|||||
||Loans repaid||**(126,231)**|(129,545)|
|**Net cash provided by financing activities**|||**(126,231)**|(129,545)|
|Change in cash and cash equivalents in the year|||**33,955**|(86,235)|
|Cash and cash equivalents as 1 July||**B**|**238,018**|356,398|
|Exchange difference on cash and cash equivalents|||**16,292**|(32,145)|
|**Cash and cash equivalents as 30 June**||**B**|**288,265**|238,018|
|**A**|**Reconciliation of net movement in funds to net cash used** in**operating activities**||||
||**Net movement in funds**||**(77,426)**|(75,325)|
||**Adjustments for:**||||
||Depreciation charge||**212,337**|216,886|
||Losses/(gains) on investments||**39,848**|(15,746)|
||(Gains)/losses on foreign exchange||**(37,688)**|69,542|
||Losses on disposal oftangible fixed assets|||3,679|
||Investmentincome and interestreceivable including rentreceivable||**(199,642)**|(209,024)|
||Interestpayable||**44,433**|69,884|
||Decrease in debtors||**33,852**|(36,337)|
||Decrease in creditors||**(94,591)**|(256,578)|
||**Net cash used** in **by operating activities**||**(78,878)**|(233,019)|
|**B**|**Analysis of cash and cash equivalents**||||
||Cash atbank and in hand||**277,872**|231,077|
||Cash held by investmentmanagers||**10,393**|6,941|
||**Total cash and cash equivalents**||**288,265**|238,018|





## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 



## 

## 

## 

|Freehold building|- 1% straight line for concrete buildings|
|---|---|
||- 2% straight line forwooden buildings|
||-4- 13% straight line forother structures|
|Farm development|-1-45% straight line|
|Vehicles, plant & equipment|- 20% straight line|
|Forestry|- 0%|



## 

## 

## 

## 



## 

## 

## 

## 

## 

## 

## 

## 

## 

## 

## 



## 

||**2020**|2019|
|---|---|---|
||£|£|
|Sheep|**579,762**|654,950|
|Cattle|**439,537**|473,292|
|Dairy|**879,151**|821,829|
|Wool|**42,509**|57,974|
|Hives|**12,118**|12,436|
|Rental|**26,459**|27,198|
|Other|**1,370**|5,807|
||**1,980,906**|2,053,486|
|`3.`<br>**INVESTMENT INCOME**|||
||**2020**|2019|
||£|£|
|UK dividend income|**12,803**|13,546|
|Overseasdividend income|**12,106**|9,264|
|UK bank interest|**155**|97|
|Overseas bank interest|**112**|6,206|
||**25,176**|29,113|
|**4.**<br>**OTHER INCOME**|||
||**2020**|2019|
||£|£|
|Sale oftransferrabletitles||46,401|
|Sale of New Zealand Emissions Trading Scheme - New Zealand||76,574|
|Unit's|||
|Other income|**328**||
||**328**|122,975|
|**5.**<br>**CHARITABLE GRANTS**|||
||**2020**|2019|
||£|£|
|**For the furtherance of the science of agriculture**|||
|Research awards|**28,900**|32,112|
|Fellowship|**{7,574)**|7,773|
||**21,326**|39,885|





## 

|**5.**<br>**CHARITABLE GRANTS (continued)**|||
|---|---|---|
||**2020**|2019|
||£|£|
|**For the advancement of education**|||
|Postgraduate scholarships|**15,148**|33,682|
|Charitable awards|**439**||
|UK Students' travel to NewZealand|**4,684**|5,644|
|Maori education grants|**2,525**||
|MinistryofEducation school bus grant|**393**|708|
|EastofEngland Agricultural Society|**1,200**|1,000|
||**24,389**|41,034|
|**Support costs (see note 8)**|**3,135**|4,802|
|**Total**|**48,850**|85,721|
|**6.**<br>**CHARITABLE DONATIONS**|||
||**2020**|2019|
||£|£|
|Donations payable|||
|Whirlow Hall Farm Trust||290|
|Oxfam||500|
|ZANE||200|
|Supportcosts (see note 8)||29|
|||1,019|
|`7.`<br>**COSTS RELATING TO FARMING**|||
||**2020**|2019|
||£|£|
|Salariesand wages (see note 9)|**292,692**|226,311|
|Livestockexpenses|**429,322**|501,795|
|Dairyexpenses|**302,500**|416,510|
|Wool expenses|**43,375**|51,818|
|Farm operating costs|**67,657**|54,975|
|Repairsand maintenance|**12,242**|7,273|
|Vehicle running expenses|**142,278**|4,488|
|Standing charges|**32,455**|50,459|
|Depreciation|**245,872**|250,055|
|Extension activities||1,148|
|Losson disposal offixed assets|**1,464**|4,797|
|Foreign exchange (gains)/losses|**(40,080)**|71,197|
|Loan interest paid|**235,673**|263,453|
|Supportcosts (see note 8)|**121,068**|112,996|
||**1,886,518**|2,017,275|





## 

||**2020**|2019|
|---|---|---|
||£|£|
|Managementfees|||
|Salaries and wages (see note 9)|**15,944**|19,022|
|Trustees' expenses|**15,482**|19,286|
|NewZealand committee expenses|**13,572**|14,719|
|Administrationfees and other costs|**28,988**|19,707|
|Bank charges|**307**|416|
|Company secretarialfees|**1,555**|2,372|
|Governance costs|**48,925**|42,818|
||**124,773**|118,340|



|plitas follows:|||
|---|---|---|
||**2020**|2019|
||£|£|
|Raisingfunds|**570**|515|
|Charitable grants|**3,135**|4,816|
|Charitable donations||29|
|Costs relating to farming|**121,068**|112,980|
||**124,773**|118,340|



||**2020**|2019|
|---|---|---|
||£|£|
|Staffcosts:|||
|Wages and salaries|**301,164**|240,086|
|Pension costs|**7,472**|5,247|
|Total staff costs|**308,636**|245,333|
|Staffcosts analysed by function:|||
|Farming|||
|- Directcosts|**292,692**|226,311|
|- Supportcosts|**15,944**|19,022|
|Total staff costs|**308,636**|**245,333**|
|Average number ofemployees:|||
|Fulltime|**9**|10|
|Employees paid above £60,000|**1**||





## 

## 

## 

## 

|This is stated after charging||||
|---|---|---|---|
|||**2020**|2019|
|||£|£|
|Auditor's remuneration||||
|UKAuditor's remuneration|-audit fees-current year|**11,300**|10,500|
||- non-audit services|**3,000**|2,885|
|New Zealand Auditor's remuneration|- audit fees|**9,817**|9,984|
||- non-audit services|**22,155**|20,262|
|Amount of stocks recognised as an expense/(credit) during theyear||**71,778**|284,154|
|Depreciation||**246,905**|250,698|





## 

## 

## 

||Freehold|Freehold|Farm|Forestry|Vehicle,|Total|
|---|---|---|---|---|---|---|
||land|buildings|development||plant &||
||||||equipment||
||£|£|£|£|£|£|
|**Cost or**|||||||
|**valuation**|||||||
|1 July 2019|7,028,097|2,617,236|2,449,768|46,956|616,321|12,758,378|
|Additions|||30,758||34,167|64,925|
|Disposals|||||(34,327)|(34,327)|
|Revaluation|||||||
|30 June 2020|7,028,097|2,617,236|2,480,526|46,956|616,161|12,788,976|
|**Depreciation**|||||||
|1 July 2019||642,664|811,755||521,411|1,975,830|
|Charge for the||70,999|141,338||34,568|246,905|
|year|||||||
|Eliminated on|||||(28,292)|(28,292)|
|disposal|||||||
|30 June 2020||713,663|953,093||527,687|2,194,443|
|**Net book value**|||||||
|**30 June 2020**|**7,028,097**|**1,903,573**|**1,527,433**|**46,956**|**88,474**|**10,594,533**|
|Net book value 30|||||||
|June 2019|7,028,097|1,974,572|1,638,013|46,956|94,910|10,782,548|





## 

||Freehold|Freehold|Farm|Total|
|---|---|---|---|---|
||land|buildings|development||
||£|£|£|£|
|**Cost or valuation**|||||
|At 1 July 2019|7,028,097|2,617,236|2,449,768|12,095,101|
|Additions|||30,758|30,758|
|At 30 June 2020|7,028,097|2,617,236|2,480,526|12,125,859|
|**Depreciation**|||||
|1 July 2019||642,664|811,755|1,454,419|
|Charge for the year||70,999|141,338|212,337|
|Eliminated on disposal|||||
|30 June 2020||713,663|953,093|1,666,756|
|**Net book value 30 June 2020**|**7,028,097**|**1,903,573**|**1,527,433**|**10,459,103**|
|Net book Value June 2019|7,028,097|1,974,572|1,638,013|10,640,682|





## 

## 

## 

|||**GROUP**||**CHARITABLE **|**COMPANY**|
|---|---|---|---|---|---|
|||**2020**|2019|**2020**|2019|
|||£|£|£|£|
|Market value at 1July||**1,165,958**|1,300,104|**624,289**|745,732|
|Additions||**117,816**|262,725|**113,483**|125,219|
|Disposals||**(228,096)**|(262,408)|**(228,096)**|(262,408)|
|Realised gains in the year||**22,083**|18,551|**22,083**|18,551|
|Unrealised<br>losses<br>in|the|**(67,435)**|(179,862)|**(55,201)**|(12,946)|
|year||||||
|Exchange losses/(gains)||**(14,952)**|26,848|**(6,730)**|10,141|
|Market value at 30 June||**995,373**|1,165,958|**469,828**|624,289|
|Cash<br>held<br>by<br>investment||**10,393**|6,941|**10,393**|6,941|
|managers||||||
|Total valueof investments at||**1,005,766**|1,172,899|**480,221**|631,230|
|30 June||||||
|Cost at 30 June||**1,305,069**|1,451,069|**554,749**|700,749|



## 



## 

## 

||**2020**|2019|
|---|---|---|
||£|£|
|Beef/sheep livestock|**1,243,730**|1,322,671|
|Dairy livestock|**627,011**|670,590|
|Wool stock|**19,165**||
||**1,889,906**|1,993,261|



||**GROUP**||**CHARITABLE **|**COMPANY**|
|---|---|---|---|---|
||**2020**|2019|**2020**|2019|
||£|£|£|£|
|Farmtrade debtors|**36**||||
|Taxation recoverable|**2,775**|22,504|**2,598**||
|Sundrydebtors|**49,619**|84,636||36,450|
||**52,430**|107,140|**2,598**|36,450|



## 

||**GROUP**||**CHARITABLE **|**COMPANY**|
|---|---|---|---|---|
||**2020**|2019|**2020**|2019|
||£|£|£|£|
|Bank overdraft|**10,816**|124,984|||
|Farmtrade creditors|**55,085**|91,750|**11,715**|10,650|
|Accruals|**38,794**|30,659|**18,861**|13,385|
|GSTpayable|**3,110**|10,650||14,630|
|Amounts due to C Alma Baker Trust|||**1,362,226**|1,448,728|
|**(NZ)** Limited|||||
||**107,805**|258,043|**1,392,802**|1,487,393|



## 

||**GROUP**|**GROUP**|**CHARITABLE **|**COMPANY**|
|---|---|---|---|---|
||**2020**|2019|**2020**|2019|
||£|£|£|£|
|**Bank of New Zealand -** loan|||||
|As at 1 July|**4,939,250**|5,379,099|**1,188,590**|1,280,738|
|Advances inthe year||1,320,655|||
|Repayment|**{256,351)**|(1,925,636)|**{126,231)**|(129,545)|
|Exchange differences|**(76,643)**|165,132|**{21,397)**|37,397|
|At30 June|**4,606,256**|4,939,250|**1,040,962**|1,188,590|





## 

## 

## 

|**GROUP**||**At 1 July**|**Income/**|**Transfers**|**Gains and**|**At 30 June**|
|---|---|---|---|---|---|---|
|||**2019**|**(expenditure)**||**losses**|**2020**|
|Designated|fund|7,016,197|(202,412)|180,258||6,994,043|
|||**At 1 July**|**Income/**|**Transfers**|**Gains and**|**At 30 June**|
|||**2018**|**(expenditure)**||**losses**|**2019**|
|Designated|fund|6,913,084|(553,972)|657,085||7,016,197|



|**CHARITABLE**|**At 1 July**|**Income/**|**Transfers**|**Gains and**|**At 30 June**|
|---|---|---|---|---|---|
|**COMPANY**|**2019**|**(expenditure)**||**losses**|**2020**|
|Designated fund|10,083,360|(230,792)|45,832||9,898,400|
||**At 1 July**|**Income/**|**Transfers**|**Gains and**|**At 30 June**|
||**2018**|**(expenditure)**||**losses**|**2019**|
|Designated fund|10,331,206|(242,216)|(5,630)||10,083,360|





## 

## 

|**GROUP**|**General**|**Designated**|**2020**|
|---|---|---|---|
||**funds**|**funds**|**total funds**|
||£|£|£|
|Tangible fixed assets||10,594,533|**10,594,533**|
|Investments||1,005,766|**1,005,766**|
|Stocks|1,889,906||**1,889,906**|
|Debtors|52,430||**52,430**|
|Cash atbankand in hand|277,932||**277,932**|
|Creditors: amountsfalling due with one year|(107,805)||**(107,805)**|
|Creditors: amountsfalling due after morethan one year|-|(4,606,256)|**(4,606,256)**|
||**2,112,463**|**6,994,043**|**9,106,506**|
|**GROUP - Previous year**|**General**|**Designated**|**2019**|
||**funds**|**funds**|**total funds**|
||£|£|£|
|Tangible fixed assets||10,782,548|10,782,548|
|Investments||1,172,899|1,172,899|
|Stocks|1,993,261||1,993,261|
|Debtors|107,140||107,140|
|Cash atbankand in hand|231,138||231,138|
|Creditors: amountsfalling due with one year|(258,043)||(258,043)|
|Creditors: amountsfalling due after morethan one year|-|(4,939,250)|(4,939,250)|
||2,073,496|7,016,197|9,089,693|
|**CHARITABLE COMPANY**|**General**|**Designated**|**2020**|
||**funds**|**funds**|**total funds**|
||£|£|£|
|Tangible fixed assets||10,459,103|**10,459,103**|
|Investments||480,221|**480,221**|
|Investments in subsidiary undertaking||38|**38**|
|Debtors|2,598||**2,598**|
|Cash atbankand in hand|277,872||**277,872**|
|Creditors: amountsfalling due with one year|(1,392,802)|-|**(1,392,802)**|
|Creditors: amountsfalling due after morethan one year|-|(1,040,962)|**(1,040,962)**|
||**(1,112,332)**|**9,898,400**|**8,786,068**|





## 

## 

|**CHARITABLE COMPANY- Previous year**|**General**|**Designated**|**2019**|
|---|---|---|---|
||**funds**|**funds**|**total funds**|
||£|£|£|
|Tangible fixed assets||10,640,682|10,640,682|
|Investments||631,230|631,230|
|Investments in subsidiary undertaking||38|38|
|Debtors|36,450||36,450|
|Cash at bank and in hand|231,077||231,077|
|Creditors: amounts falling due with one year|(1,487,393)|-|(1,487,393)|
|Creditors: amounts falling due after more than one year|-|(1,188,590)|(1,188,590)|
||(1,219,866)|10,083,360|8,863,494|



## 

||**2020**|2019|
|---|---|---|
||£|£|
|Financial assets|||
|Equity instruments held at fair value through SOFA|**1,005,766**|1,172,899|
|The carrying amount of the charitable company's financial instruments as at 30 Junewas:|||
||**2020**|2019|
||£|£|
|Financial assets|||
|Equity instruments held at fair value through the SOFA|**480,221**|631,230|



## 

||**2020**|2019|
|---|---|---|
||`£`|£|
|Amounts receivable in:|||
|Less than one year|**93,687**|95,087|
|Between one and five years||95,087|



## 



## 

## 

## 

|||**General**|**Designated**|**Total Funds**|Total Funds|
|---|---|---|---|---|---|
|||**Funds**|**Funds**|**2019**|2018|
|**Note**||£|£|£|£|
|**INCOME FROM**||||||
|**Charitable activities**||||||
|Farm income|**2**|2,053,486||**2,053,486**|1,846,607|
|Investments|**3**|29,113||**29,113**|47,942|
|Other|**4**|122,975||**122,975**|109,766|
|Total income||2,205,574||**2,205,574**|2,004,315|
|**EXPENDITURE ON:**||||||
|**Raising funds**||||||
|Investment managerfees||9,159||**9,159**|9,375|
|**Charitable activities**||||||
|Charitable grants|**5**|85,721||**85,721**|80,363|
|Charitable donations|**6**|1,019||**1,019**|3,144|
|Costs relating tofarming|**7**|1,624,614|392,661|**2,017,275**|1,639,586|
|**TOTAL EXPENDITURE**||1,720,513|392,661|**2,113,174**|1,732,468|
|**NET INCOME BEFORE**||||||
|**GAINS/(LOSSES)**||485,061|(392,661)|**92,400**|271,847|
|Netgains on investments|**12**||(161,311)|**(161,311)**|659|
|**NET INCOME/(EXPENDITURE) **|**10**|485,061|(553,972)|**(68,911)**|272,506|
|TRANSFERS BETWEEN||||||
|FUNDS|**18**|(657,085)|657,085|||
|**OTHER RECOGNISED GAINS**||||||
|Gains on revaluation offixed|**11**|||||
|assets|||||815,982|
|**NET MOVEMENT IN FUNDS**||(172,024)|103,113|**(68,911)**|1,088,488|
|**RECONCILIATION OF FUNDS**||||||
|Fund balances broughtforward||||||
|at 1 July||2,245,520|6,913,084|**9,158,604**|8,070,116|
|**Total funds carried forward at**||||||
|**30 June**|**19**|2,073,496|7,016,197|**9,089,693**|9,158,604|





## 

## 

|||UNRESTRICTED|FUNDS||
|---|---|---|---|---|
||**General**|**Designated**|**Total Funds**|Total Funds|
||**Funds**|**Funds**|**2020**|2019|
||£|£|£|£|
|**INCOME FROM**|||||
|Rental income|90,886||**90,886**|93,272|
|Investment income|199,642||**199,642**|209,024|
|Other income|328||**328**|122,975|
|Total income|290,856||**290,856**|425,271|
|**EXPENDITURE ON:**|||||
|**Raising funds**|||||
|Investmentmanagementfees|10,210||**10,210**|9,675|
|**Charitable activities**|||||
|Charitable grants|55,701||**55,701**|89,765|
|Charitable donations||||1,108|
|Costs relating tofarming|71,579|197,674|**269,253**|405,653|
|**TOTAL EXPENDITURE**|137,490|197,674|**335,164**|506,201|
|**NET INCOME/(EXPENDITURE)**|||||
|**BEFORE GAINS**|153,366|(197,674)|**(44,308)**|(80,930)|
|Investmentgains in the year||(33,118)|**(33,118)**|5,605|
|**NET INCOME/(EXPENDITURE)**|||||
|**BEFORE TRANSFERS**|153,366|(230,792)|**(77,426)**|(75,325)|
|TRANSFERS BETWEEN|||||
|FUNDS|(45,832)|45,832|||
|**OTHER RECOGNISED GAINS**|||||
|Gains on revaluation offixed|||||
|assets|||||
||107,534|(184,960)|**(77,426)**|(75,325)|
|**RECONCILIATION OF FUNDS**|||||
|Fund balances broughtforward|||||
|at 1 July|(1,219,866)|10,083,360|**8,863,494**|8,938,819|
|**Total funds carried forward**|||||
|**at 30 June**|(1,112,332)|9,898,400|**8,786,068**|8,863,494|





## 

## 

## 

||**2020**|2019|
|---|---|---|
||£|£|
|Limestone Downs|**90,886**|93,272|
|**26. INVESTMENT INCOME**|||
||**2020**|2019|
||£|£|
|UK dividends|**12,803**|13,546|
|Dividendsfrom CAlma Bakertrust(NZ) Limited|**179,248**|179,953|
|Overseas dividends|**7,324**|9,222|
|UK bank interest|**155**|97|
|Oversea bank interest|**112**|6,206|
||**199,642**|209,024|
|**27. OTHER INCOME**|||
||**2020**|2019|
||£|£|
|Donations|**328**||
|Sale oftransferrabletitles||46,401|
|Sale ofNZETS NZU's||76,574|
||**328**|122,975|
|**28. CHARITABLE GRANTS**|||
||**2020**|2019|
||£|£|
|**For the furtherance of the science of agriculture**|||
|C. Alma Baker Fellowship|||
|EastofEngland Agricultural Society|**1,200**|1,000|
|Research awards|**28,900**|32,112|
||**30,100**|33,112|
|**For the advancement of education**|||
|Postgraduate scholarships|**15,148**|33,682|
|UK Students' travel to NewZealand|**4,684**|5,644|
|Maori education grant|**2,525**||
|Fellowship|**(7,574)**|7,773|
|Charitable awards|**439**||
||**15,222**|47,099|
|**Related salaries and wages**|||
|**Support costs**|**10,379**|9,554|
|**Total**|**55,701**|89,765|





## 

## 

||**2020**|2019|
|---|---|---|
||£|£|
|Donations payable|||
|Oxfam||290|
|ZANE||200|
|Whirlow Hall FarmTrust||500|
|Support costs||118|
|||1,108|



## 

||**2020**|2019|
|---|---|---|
||£|£|
|Depreciation onfreehold buildings andfarm development|**212,337**|216,886|
|Loss on disposal offixed assets||3,679|
|Extension Activities||1,148|
|Foreign exchange (gain)/loss|**(37,689)**|69,884|
|Loan interestpaid|**44,433**|69,542|
|Farm operating costs||1,500|
|Support costs (note 30)|**50,172**|43,014|
||**269,253**|405,653|
|**1. SUPPORT COSTS**|||
||**2020**|2019|
||£|£|
|Trustees' expenses|**15,482**|19,286|
|Administrationfees and other costs|**18,073**|10,941|
|Bank charges|**156**|243|
|Printing and stationery||113|
|Governance costs- auditors' fees (see note 32)|**28,743**|23,132|
||**62,454**|53,715|



## 

##