COMPANY REGISTRATION NUMBER: 06212037 CHARITY REGISTRATION NUMBER: 1119872
Lane End Farm Trust
Company Limited by Guarantee
Unaudited Financial Statements
30 April 2023
Lane End Farm Trust
Company Limited by Guarantee Financial Statements
Year ended 30 April 2023
| Lane End Farm Trust Company Limited by Guarantee Financial Statements Year ended 30 April 2023 |
|
|---|---|
| Page | |
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities (including income and expenditure account) |
5 |
| Statement of financial position | 6 |
| Notes to the financial statements | 7 |
Lane End Farm Trust
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) Year ended 30 April 2023
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 30 April 2023.
Reference and administrative details
Registered charity name
Lane End Farm Trust
Charity registration number 1119872
Company registration number 06212037
Principal office and registered office Longfields Farm Flagg Lane Flagg Buxton Derbyshire SK17 9QS The trustees Diana Cooper – Appointed 18 January 2019 Carol Sharp – Appointed 27 April 2017 Jane Sorrell – Appointed 1 June 2021 Independent examiner Zoe Snape Valued Accountancy Team Limited 6F The Glass Yard Sheffield Road Chesterfield S41 8JY
The trustees Independent examiner
Structure, governance and management
Governing Document
The organisation is a charitable company limited by guarantee, incorporated on 13[th] April 2007 and registered as a charity on 29[th] June 2007. The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its articles of association.
Recruitment and Appointment of Management Committee
The directors are elected or confirmed in office by the membership at the Annual General Meeting.
Trustee Induction and Training
Lane End Farm Trust have an experienced range of trustees. The trust didn’t recruit any new trustees during the year, however if they had they would have received an induction into their role by the Farm Manager including a programme of training and development opportunities. Expenses are offered and covered under a separate policy.
Risk Management
The management committee has conducted a review of the major risks to which the charity is exposed. A risk register has been established and is updated annually. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. Significant external risks to funding have led to the development of a strategic plan which will allow for the diversification of funding and activities. Procedures are in place to ensure compliance with health and safety of staff, volunteers, clients and visitors.
Organisational Structure
Lane End Farm Trust has a board of trustees who meet four times a year as an Executive, with extra meetings if required. The Trust at 30th April 2023 employs full time and part time staff. The day-to-day operational management is shared between its existing staff.
Objectives and activities
The objectives are the relief of children, young people and adults with disabilities by the provision of a community farm in the interest of social welfare for recreation of other leisure time occupations with the object of improving the quality of their lives and by the provision of support, therapeutic facilities and such other activities.
In setting and confirming these objectives, the trustees consider that they have complied with the duty in section four of the Charities Act 2006 to have due regards to public benefit guidance issues by the Charity Commission and that the rest of this report demonstrates that the Trust deliver public benefit.
Strategic report
The year has been a highly successful one with an increase in the number of attendees, new and useful buildings erected, innovative studies added and turnover of finances increased.
Students
There have been a large number of new students adding to existing ones, successfully completing courses such as AQA’s, Animal Husbandry and Dog Grooming.
Due to the students having a range of disabilities or being disadvantaged such as Autism, ADHD, mental health conditions and difficulties accessing mainstream education, they have thrived in the small group work at Lane End Farm Trust. Most are in receipt of an Education and Health Care Plan which staff use to ascertain which groups and other students they will work best with, whilst taking into consideration their personalities and abilities.
Ages range from 11-26 and some 20-year-old girls with anxiety have been attending for therapeutic time with carefully chosen animals.
After COVID restrictions ended, numbers started to increase with recommendations from schools and colleges such as Hope College.
Staff
New staff have been employed to help with the larger numbers of students.
Buildings & Equipment
There were a number of buildings purchased and erected to replace old or broken structures including a new dog grooming parlour with equipment, a new toilet, a rabbit and guinea pig house, a trailer to take animals out on fundraising trips, an indoor activities building with heating and a large brick based greenhouse to replace some poly tunnels that blew down in the extreme bad weather over the Winter of 2022-23.
Finances
There was previously a lack of income due to COVID but due to the high demand for our services we are now fully subscribed. The increase in student numbers has meant a 50% increase in funds enabling LEFT to replace and purchase a number of buildings and to pay extra staff. LEFT attends Country Fairs such as Bakewell and Leek, Care Homes for the Elderley and Special Needs Schools and Homes for Children and Young Adults for therapeutic time with the animals. Finances are boosted by these visits as this is an additional funding stream.
Overall, a successful year and there are extensive plans for the future to increase the buildings and site to provide an even better learning experience for our young people.
Public Benefit
The trustees consider that they have complied with the duty as set out in section four of the Charities Act 2011 to have due regard to guidance published by the Charity Commission, including public benefit guidance.
The trustees' annual report and the strategic report were approved on 23 October 2023 and signed on behalf of the board of trustees by:
Jane Sorrell Trustee
Lane End Farm Trust
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Lane End Farm Trust
Year ended 30 April 2023
I report to the trustees on my examination of the financial statements of Lane End Farm Trust ('the charity') for the year ended 30 April 2023.
Responsibilities and basis of report
The trustees, who are also the directors of the company for the purposes of company law, are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011, the 2011 Act, and that an independent examination is needed.
The charity's gross income exceeded £25,000 but did not exceed £250,000 and I am qualified to undertake the examination.
Having satisfied myself that the Trust is not subject to audit under company law, and is eligible for independent examination, it is my responsibility to examine the financial statements under section 145 of the 2011 Act, to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act and to state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission.
An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the next statement.
Independent examiner's statement
I have completed my examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Zoe Snape Independent Examiner
23 October 2023
Valued Accountancy Team Limited 6F The Glass Yard Sheffield Road
Chesterfield
S41 8JY
Lane End Farm Trust
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 30 April 2023
| Note Income and endowments Donations and legacies 5 Charitable activities 6 Total income Expenditure Expenditure on charitable activities 7,8 Other expenditure 9 Total expenditure Net expenditure and net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
2023 2022 Unrestricted funds Total funds Total funds £ £ £ 8,483 8,483 2,634 99,726 99,726 73,091 108,209 108,209 75,725 92,907 92,907 71,888 - - 92,907 92,907 71,888 15,302 15,302 3,837 27,384 27,384 23,547 42,686 42,686 27,384 |
|---|---|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Lane End Farm Trust
Company Limited by Guarantee
Statement of Financial Position
30 April 2023
| Note Fixed assets Tangible fixed assets 14 Current assets Stocks 15 Debtors 16 Cash at bank and in hand Creditors: amounts falling due within one year 17 Net current assets Total assets less current liabilities Net assets Funds of the charity Unrestricted funds Total charity funds 18 |
2023 2022 £ £ 22,892 9.592 4,000 3,900 5,870 2,599 21,824 20,920 |
|---|---|
| 54,586 37,011 (11,900) (9,627) |
|
| 42,686 27,384 |
|
| 42,686 27,384 |
|
| 42,686 27,384 |
|
| 42,686 27,384 |
|
| 42,686 27,384 |
For the year ending 30 April 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 23 October 2023, and are signed on behalf of the board by:
Jane Sorrell Trustee
Company Number: 06212037
Lane End Farm Trust
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 30 April 2023
1. General information
The charity is a public benefit entity and a private company limited by guarantee. registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Longfields Farm, Flagg Lane, Flagg, Buxton, Derbyshire, England, SK17 9QS.
2. Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Lane End Farm Trust Limited meets the definition of a public entity under FRS
- Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainly
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
- expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold property - 20% straight line Fixtures and fittings - 20% straight line Motor vehicles - 20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the
exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Limited by guarantee
The company is Limited by Guarantee.
| 5.Donations and legacies | 2023 | 2022 | ||
|---|---|---|---|---|
| Donations | Unrestricted Funds | Restricted Funds | Total Funds | Total Funds |
| £ | £ | £ | £ | |
| Donations and legacies | 8,483 | - | 8,483 | 2,634 |
6. Charitable activities
| 6. Charitable activities | ||||
|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Charitable activities | 99,726 | 99,726 | 73,091 | 73,091 |
| 7. Expenditure on charitable activities by fund type | ||||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2023 | ||
| £ | £ | £ | ||
| Charitable activities | 92,907 | 92,907 | ||
| Support costs | ||||
| 92,907 | 92,907 | |||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2022 | ||
| £ | £ | £ | ||
| Charitable activities | 71,888 | 71,888 | ||
| Support costs | ||||
| 71,888 | 71,888 |
8. Expenditure on charitable activities by activity type
| Activities | Support Costs | Total funds | Total funds | ||
|---|---|---|---|---|---|
| undertaken | directly | 2023 | 2022 | ||
| £ | £ | £ | £ | ||
| Charitable activities | 92,907 | - | 92,907 | 71,888 | |
| Governance Costs | |||||
| _ | ______ | ______ | ______ | ||
| 92,907 | - | 92,907 | 71,888 | ||
| _ | ______ | ______ | _ |
9. Other expenditure
| Other expenditure | ||||
|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Loss on disposal of tangible fixed | ||||
| assets held for charity's own use | - | |||
| 10. Net expenditure | ||||
| Net expenditure is stated after charging/(crediting): | ||||
| 2023 | 2022 | |||
| £ | £ | |||
| Depreciation of tangible fixed assets | 6,356 | 11,702 | ||
| Loss on disposal of tangible fixed assets | - | - | ||
| 11. Independent examination fees | ||||
| 2023 | 2022 | |||
| £ | £ | |||
| Fees payable to the independent examiner for: | ||||
| Independent examination of the financial | 750 | 600 | ||
| statements |
12. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 47,420 | 34,889 |
| The average head count of employees during the year was 3 (2022:3).The | average number of full-time | |
| equivalent employees during the year is analysed as follows: | ||
| 2023 | 2022 | |
| No. | No. | |
| Number of staff | 3 | 3 |
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
13.Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
14. Tangible fixed assets
| 14. Tangible fixed assets | |||||||
|---|---|---|---|---|---|---|---|
| Short leasehold | Fixtures and | ||||||
| property | fittings | Motor | vehicles | Total | |||
| £ | £ | £ | £ | ||||
| Cost | |||||||
| At 1 May 2022 | 36,963 | 26,236 | 3,600 | 66,799 | |||
| Additions | 19,656 | 19,656 | |||||
| Disposals | |||||||
| At 30 April 2023 | 36,963 | 45,892 | 3,600 | 86,455 | |||
| Depreciation | |||||||
| At 1 May 2022 | 34,481 | 19,126 | 3,600 | 57,207 | |||
| Charge for the year | 1,975 | 4,381 | 0 | 6,356 | |||
| Disposals | |||||||
| At 30 April 2023 | 36,456 | 23,507 | 3,600 | 63,563 | |||
| Carrying amount | |||||||
| At 30 April 2023 | 507 | 22,385 | 0 | 22,892 | |||
| At 30 April 2022 | 2,482 | 7,110 | 0 | 9,592 | |||
| 15. Stocks | |||||||
| 2023 | 2022 | ||||||
| £ | £ | ||||||
| Finished goods and goods for resale | 4,000 | 3,900 | |||||
| 16. Debtors | |||||||
| 2023 | 2022 | ||||||
| £ | £ | ||||||
| Trade debtors | 5,870 |
2,599 | |||||
| 17. Creditors: amounts falling due | within one year | ||||||
| 2023 | 2022 | ||||||
| £ | £ | ||||||
| Trade creditors | 0 | 0 | |||||
| Accruals and deferred income | 1,350 | 0 | |||||
| Other creditors | 10,550 |
9,627 | |||||
| 11,900 |
9,627 | ||||||
| 18. Analysis of charitable funds | |||||||
| Unrestricted funds | |||||||
| At 30 April | |||||||
| At 1 May 2022 | Income | Expenditure | 2023 | ||||
| £ | £ | £ | £ | ||||
| General funds | 27,384 | 108,209 | (92,907) | 42,686 | |||
| At 30 April | |||||||
| At 1 May 2021 | Income | Expenditure | 2022 | ||||
| £ | £ | £ | £ | ||||
| General funds | 23,547 |
75,725 | (71,888) | 27,384 |