DotuS￿ ID: S0F2KOW024EB7A￿l03J1$￿22E9 Wlllow Trne Famlty Farni . U221 Twstees, Report and Accounts 29 Docernber 2022 Niiiiiiii *AULOBNL4 2410812023 COMPANIES HOUSE A14 #153 WlllowTree Famlty Farm Contents Pages 2to4 Trustees, Annual Report Independent Examiner's Report ststement of Financial Activfties Summary In¢¢vne and Expenditure Account Balance Sheet Notes to the Accounts 9t016 Detailed Statement of Finanaal Activitses 17to18 Dowsbn Énvelope10.. 5DF28cWF024E814E￿lD￿7g￿E8 Illow Tree Family Farm Trustees Annual Report The trustee5. who are also dirertors of the tharityforthe purposes of the Companie5 Act 2CM)6, p￿sent their report wth the unaudited financial ststements of the charFtyfor the period ended 29 December 2022. REFERENCE AND ADMINisfRATIVE DEfAIiS Company 140. 04866838 Charity No. 1122101 Reglstered Offl Willow Tree Family Fami Langwith Road Shirebrook Mansfield NG20 8TE Dlrertors and Truste•s The Direttors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served durin8the year. QM. Duncan J.A. Fletcher l. Grainger-Grimes A. Hind D.A. Taylor Accountsnts Peach AccountarKv OBJECTIVES AND AcnviTIES The purposes of the Charrty are to promote and advance educ*ion and pro¥Kle facilitRs for recreation and other leisure time o¢¢upation in the iftterests of sooal welfare for the general publK. in particular you people. without distTrnction of their age. 8ender. sexual orient*ion. ra￿ or culture. political or religious opinions, in agriculture, conservation. the Ca￿ and consrderation of all anlmafs and othera550ciated subjects with the object of improvin8 the conditions of lrfe for said persons. The public continue to benefft from the educational and cultural opportunities provrded by the farm and many activities offered to local children and famil￿. We have continued with the volunteer wogram and have **komed the support ofthe unemployed. disabled. chiklren and professlonals. We ￿ntinUe to help the unemployed gain experience within employment to help them prepare for work and rabse their gmbitions and confidence. Unfortunately this program has been ￿duCed by 8overnmertt ¢uts. Students have been on work placements to help develop their skills in the animal ca￿, hospttality. travd and tourism sectors. The students have been aged 14 upwards. We have continued to support equalrtywTthin the charity. ensuring indrviduals with a disability to engage in work-based skills. ACHIEVEMENTS AND PERFORMAN O¢tySvJn Envekge ILk. 5DF28cO&3FD24E874E￿lo337g&5z2eo Willow Tree Fam¢ly Farm Trustees Annual Report The 63% increase in total donation and trading activity income from 2021. and a 650% increase in total donations and trading actiwty income from the year ending 2020 during lockdown, shows the chaTities current workin8 model is thoW1￿ effectiveness of a post COVID recovery plan and the sustainabilty of the charlty. Achievements-The trustees celebrate the charities abilityto diversify its mission to remain financially stable In a post pandemic year with a fininaal crisi& The trustees with the dedication from the staff and volunteer team worked hard at ensuring the charity was able to serve its community and visitors. The trustees were able to reduce its entry fees and run several free activities and events due to improved donation income. The increase in donations generated from the events were able to improve the site. increase staffin8 and reduce fee5 to visitors. The implementation of a digital ticket and food and beverage system at the site has improved the sites efficiency and helped see a 30% increase in food and beverage due tts this. Thts also allowed the trustees to adopt the Gift system whith is contribubn8 to donation income. The tr￿￿ee5 after a 7 year challenge were able to secure additional of 5 acres on an annual bays. The trustees have also secured a 25 year draft lease far the site to allow the charityto remain at the site until 2053. This is a significant achievement a5 the irustees Can nowexplO￿ new devel0pff￿ts. FINANaAL REVIEW The increase in services are signifKantty raising to whith the trustee5 are c105ely mt)nitorin8 and looking at ways to reduce its electrical consumpts-on. The trustees will ¢ontinue to ck)sely monitor changes to costs of running costs to ensure swift action is taken to enwre no disruption or have a significant impart on the charity. The Courtyard at Willow Tree Famlly Farm has been a signfficant improvement to the charity in its ability to dIVer￿fy into more events for fvndraign8 and the trustees a￿ exploring to change to marquee structure to a pernianent 5tWLlure to which the tmstees will begin a financial assessment and feasibility assessment for a new development. The trustees agreed the new budgeting of staff recruf(ment and increase the stsffin8 levels at the chartty. The trustees raised concems surrounding the effective workifig relationship with the current accountants and the trustees decKled to seek a reLitionsh4P to avoKI further barrier5 that ha￿ affected the charity. The trustees approved the decision to change professlonal a(￿untan¢¥ setvices during 2023. The trustee5 to develop a financial retainment of fees for a 5 year period to hold between 5%- 10% of the annual income for fees to rebuild a contirwncy fvnd against any future pandemics or financial struggles in economy thanges. This is to re-build the reser￿ follwng its use in the COVID-19 period. After the 5 yts. the retainment should hold a minimum of a 25% of annual running Costs or maximum of 24 month running costs to whKh must be held in rewicted lunds. PLANS FOR FUTURE PERIODS DDcuSiqTh En¥dw10.. SDF26CCW024E87-*ED&1033799522E8 illow Tree Family Farni Trurtees Annual Report A public and customer consultation has taken place a 9 month perx)d and will continue until Dec 23 on how the vi51tors and local community woukl like to see the charity de¥elop.The consultation ha5 shown a Posttive engagement and the trustees have already sort to implement recommendations at the Sbte. Currently in exploration from the ongoing con5uftations- New café with a indoor play facility- currentty in financial feasibilty assessment stage wtth a proposal to be de￿loped by Nov 24. - New venue space to replace the ¢urrent marquee stru¢ture- ar¢hite¢ts bn consultation 3nd then a finan¢r41 assessment to begin in April 2024 and a pr¢)posal to be develowd for Nthi 24.- A new site lease- a lease has been drafted to the trustees for review arbd is in draft to extend the lease at the site to May 2053. The trustees are working with the landlord to secure the rbew long-term tenan¢y to take effert from 2028. Post COVID recovery plan to be removed and the trustee's to replace with a continuity plan to which will be reviewed annually. The trustee5 to continue to increase its workforcè to allow the site to 8row and ci>ntinue to support the local area with Investment through seasonal and pemienant staffing and to develop 2 new departments- Maintenance Team- Famtastic Entertainment Team. This aLw will see the demand to increase the Animal Care Team and the Catering Team. The trustees to review the redevelopment of a administration team to which a new office suite is required to SUPPOrt this gro7•rth.The trustee5 to continue to Work with local educational establishments to support the educatbonal benefrts of the site and work to improve its ed￿atIOnal facilities. The site requires to improve its facilities for those with complex needs. The trustees to improve pathways, access points, toilets and 5eatin8 areas to ￿ more acce55ible for those with addttional requirement needs. The trijstees to irnprove its play facilities at the site throLgh both indoor and outdoor play and to be as Inclusive as possible. The trustees to improve its carbon footprint and to continue to revi￿ the development of uses of LED lighting and improving natural lighting where possible and to make use of 8round source heating or solar systems to improve the site. The trustees are aware of the age and Condition of current facilities. To reface existing buildings to improve condition and where possible to replèce with new. The trustees to seek additional fundin8 to support new devdopments at the site The Trustees are responsible for keeping proper a¢c¢untiryg re￿d$ that disclose with reasonable accuracy at any time the finarKial positlon of the chafity and to enable them to ensure that the financial statements comply with the Companies Act 2Cn6. The Trustees are also responsible for safeguarding the assets of the charity and hence takin8 ￿aSonable steps for the preventth and detection of Iraud and other Irregularit￿$. The above rem has been Prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2(th and irt èttordartt with the Charities SORP IFRS 102). Slgned on behalf of the board Hind Trustee 18 August 2023 OopJ&gn Envokyg ID: 5OF28c￿3Fo24E87￿￿lOJ37￿522Es WillowTree Famlly Farm Independent Examlnevs Report Indep￿dent Examlnerfs Reportto the tnts*e5 of Wllow Tree Family Fami I report to the charity trustee5 on my examination of the financial statements of Willow Toe Family Farm for the pertod ended 29 December 2022 which comprise the Statement of Financ￿1 Activit*s. the Summary Income and Expenditure Actount. the Balance Sheet and the related notes. Re5PQn51bilities and basb of report As the trustees of the charity (and also its directors for the Purp￿ of cofflpany lawl you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 21x16 I'the 2006 Aci. Having satisfied myself that the financial statements of the ch￿lty are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 20111'the 2011 Act'l. In carrying out my exarnination I ha￿ followed the Directions Br¥en by the Charity Commission under Section 14515llbl of the 2011 Art. Independent examlnevs staiement As the ¢harity'S gross income exceeded £250.fKK) your examiner must be a member of a body listed in section 145 of the 2011 Art I confirm that l am qualified to undertake the emaminatw because l am a member ofACCA. I have completed my examination. I can confirrn that no material matters have come to my attentTron in connection with the examination giving me cause to believe that: ' accounting records were not kept in accordance with 5ertion 386 of the 2W6 Act . or • the financial statements do not accord with those recor Approved by the board on 18 August 2023 And signed ¢)n its behalf by. A. Hind Trustee 18 August 2023 En*bp• ID.. SDF28C(*AFD24E874E￿lo3J79yQ?2E8 W511ow Tree Family Fami Notes tothe A¢ctyJnts tor the perfod ended 29 Decern￿ 2022 l Accavntlftg pollcle5 Basts of preparatlon The finanoal statements have been prepared in acCOrda￿e with Accounting and Reportin8 by Charities: ststement of Recommended Practice appli(able to tharities preparing their accounts in actordance with the Financial Reporting Standard applicable in the UK al￿ Republic of Ireland IFRS 1021 leffeCtr￿ I January 20151- (Charities SORP {FRS 10211, the Finanual Rei*ytin8 Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2C Change In basis of accountini wto previou5 actounts There has been no change to the accounting policÈes Ivaluation rules and method of acco(tntin81 slnce last year and no changes have been made to accounts for previous years. Fund ¥¢¢ountii Unre5tri¢ted fund5 These a￿ available for use atthE disuetion of the trustees in furtherance of the general objects of the charity. Desi8n3ted funds These are unrestricted funds eamiarked by the tmstees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representin8 the restatement of investment assets at their market values. These are available for use subjert to restrictions imposed bythe donor or through tern￿ of an appeal. Restrlcted funds Income Recognition of income Income is included in the Statement of Financial Activities ISOFAI when the charity becomes entitled to. and wrtually certain to receive, the income and the amount of the income Cdn be measvred with suffioent reliability. Income with ￿lated Where income has related expenditure the inc¢me and related expenditu￿ Is expenditure reported gross in the SOF Donations ènd le8acie$ Volurtary income receiNEd by way of grants. donations and 8lfts is bncluded in the the SOFA when receNable and only when the Charity has unconditional entitlement to the income. Tax reclaims on I￿oMe from tax reclaims is Ind￿led in the SOFA at the same time as the donations and 8lfts wftldonation to which it rel*es. Donated services These are Mly induded in income (with an equplalent amount in expenditure} and la¢ilities where the benefft to the Charity is ￿3$onablY quantffiabk. measurable and material. Volunteer help The value of any volunteer hdp r￿￿ed is rLOt induded in the accounts. Investment income This is induded in the accO￿ts when receivable. Gainslllossesl on This indudes any gain or loss re5uttingfrom revaluiNd investments to market value revaluation of rtxed at the end of the year. assets Gainslllosses) ty) investment assets This indudes any8ain or loss on the saje of Invest￿ts. WlllowTree Faml¢ y Fami Notes to the A¢counts Expendltyre Recognition of empenditure Expenditure 15 recogni5ed on an accruals basis. Expenditure indude5 any VAT whith cannot be fully recovered. and is rewrted as part of the expenditure to which it relates. Expenditure on These comprise the costs associated with attrattire b￿lUntary income, fundrai5ine raising funds trading costs and investment management Costs. Expenditu￿ on These comprise the costs incurred bythe Charity in the delr¥ery of its artivities and charitable activities services in the fvrtherance of its objects. indudin8 the makin8 of grants and governance costs. All grant expenditure is accounted for on an artual paid basis plus an accrual for 8rants that ha￿ been approved by the trustees at the end ofthe year but not yet paid. Govemance costs These indude th￿e costs assoriated with meeting the constitutional and statutory reouirements of the Charity. induding any auditlindependent examination fees. costs linktd to the strategic management of the Charity. together wrth a share of other admini#ration costs. Other expenditure These a￿ support costs not alocated to a particular activity. Grants payable Tamallon The charity Is exempt from corporation tsx on its charltable xtmtie Freehold In¥estment propertv Investment properties are measured initiaHy ot cost and 5ub5equentty at tsirvalue at ea¢h balance sheet date and are not depreciated. Ail gains or losses are taken to the Statement of Flnancial Activities a5 they arise. Stocks Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which 15 the amount the charity would ha¥e been willin8 to for the items on the open market. Trade and other debtors Trade and other debtors are reccytsed at the Settlement arnount due after anytrade diKount offered. Prepayments are valued at the amount prepaKI net of any trade di5¢0unts due. Cash and cash equtvalents Cash and cash equlvalents COM￿)se cash at bank and on hand. dernand deposits with banks and other short-term h￿hlY liqutd iftvestments with original maturities of three months or less and bank overdrafts. In the statement of financial p)sition. bank overdfafts are shown within borrowings ¢y current liabilities. In the Statement of Cash Flows. cash and tash equivalents are shown net of bank overdrafts that a repayable on demand and forni an integral part of the company's cash management. Trade and other credltors Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a p￿Sent obligation resulting from a past e¥ent that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be rneasu￿d or estimated reliably. Creditors and wovisions are norrnal￿ recoenised atthwr settlement amount after allowjng for any trade dlscounts due. OwJSvJTh Envdwlo". 5DF28CC64FD24E874Ef&1D33799522e8 wtllow Tree Family Farm Notes to the Accounts Expenditure on research and development is Tfflrtitten off bn the year in whith it is incurred. Forel8n currendes Monetary assets arKI liabilities denominated in currencies other than the functional currency of the charity are tran￿ated at the rates of exthange prevailing at the end of the reportir&g period. Transactions in currencies other than the functional DJrrency of the dwrity are recorded at the rate of exchange on the date that the transactK•n occurred. l exchange differences are are tsken into account in arrivin8 at net Incon￿lexpend1IUre. Leased assets Where the charity enters Into a lease whith entsils taking substsntially all the rtsks and rewards of ownership of an asset, the lease is treated as a finance lease. Leases which do nottransfer subthntially all the risks and rewards of ownership to charity are classrfied as oper4tin8 leases. ssets held under finance leases are initialty recognised as assets of the charity at their fair value at the Inception of the lease or. rf lower. at the present valve of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obli8ation. Lease payments are apportioned between finance expenses and reductbDn of the lease Obli￿tIon 50 a5 to achieve a constant rate of inteTe5t on the remaining bèlance of the Irdbility. Flnance expense5 are reco8nised immediately, unless they are direttly attributable to qualifying assets. in which case they are capitalised in accordance wtth the charity'5 policy on borrowing costs. Asset5 held under finance leases are depTrciated in same way as owned assets. Operating lease payments are recoenwl ￿ an expense on a straight4ine basi5 I7￿ the lease term. In the event that lease incentives a￿ recebved to enter into operating leases. such in￿ntiVeS are re£o8nised as a liability. The ag8re8ate benefrt of incentives is recogni5ed as a redUctm￿ of rental expense on a straight-line basis. Penslon ¢osts The charity operates a defined contribution plan for its employees. A defined contdb(rtion plan is a pension plan under which the company pays fixed Contributions into a separate entity. Once the contributions have been paid the company has no fvrther payments obli8ations. The contributions are retO8ni5ed as expenses when they fall due. Amounts riot paid are shown in accrnaFs in the balance sheet. The assets of the plan are held separatrly from the company in independendy admlnistered fiinds. Receism of donated 8ood¥ ladlltles aThl ser¥kos All donated goods. facilities and Servi￿ recei¥ed a￿ recoenised within incoming resources and expenditure at an estimate of the value to the charity. 2 Company Smus The company is a private company lirnited by guarantee and consequently does not have share capital. lknJS*n ErNdope ID.. soF2￿f*3FD24E874Et6ID3>7Y95 Illow Tree Family Farm Total Total 2022 Endowments I,c￿0 60,280 61.280 Donations received 279,961 279.961 279.961 279.961 4 Irbcome from otP*rtradln¢ artl¥ltles Total Total 2022 2021 Sales 125.240 2.667 125,240 2.667 187,172 16.335 7.524 162.246 373.277 UK Government grants Grants- other agen¢e5 Other income 127.907 127.907 5 Other income Totsl Total 2022 2021 Rentsl income 18.(MXI 18.1)Xl 12,t)JO 12,(KJO 18,( 6 Expendityre on raisiry funds Total Totsl 2022 2021 Costs of generottng voluntory income Endowments 1,108 Donati￿5 recetved 92.832 92,832 Fundraisin9 troding costs Sales 61,977 61,977 154,809 156,653 157,761 154,809 Willow Tree Fam51y Farrn Notes to the Ac¢ounts Total 2021 Equipment leases and rentals Bank loan and overdraft interest payable Other interest payable 45.365 45,365 3,635 913 913 1,750 437 437 1.639 Employee costs Motor and travel costs ILKI.039 5.127 52.84D I￿.039 5.127 52.840 85,104 4,519 81,363 Premise5 Costs Amortisation. depreciation, impairnient, profit/loss on disposal of fixed a55ets General administratNe costs 29.759 29,759 18,222 9,808 6,583 250.871 10,030 3.025 209,287 Legal and professlonal costs 250.871 8 Net IrKorne bef¢>re transfe 2021 This is stated after charging- Depreciation of owned r￿ed assets 9 Stsff costs 29.759 18,401 2022 2021 83,967 1,137 85,104 Salaries and wages Pension costs 98.936 1,103 I￿,039 No employee received emoluments in excess of £60.1)J). 10 Tan￿ble fixed a$5ets Cost or revaluation At l January 2022 Additions At 29 Oecember 2022 Depretiatlon and Impalrment At I january 2022 Depreciation tharge for the year At 29 December 2022 217.530 39,110 256.640 217,530 39.110 256,640 58,487 58.487 29,759 29.759 88,246 88.246 Net b¢)ok values At 29 December 2022 At 31 December 2021 168.394 159,043 168.394 159.043 Wlllow Tree Family Fami Notesto the Accounts li Sto¢ks Raw materials and consumable5 20,995 20,995 25,5(Kl 25,5CKI 2022 2021 Sales 20.935 20,995 25,50) 12 Creditors: amounts falling whthin one ￿ar 2021 Bank loan5 and overdrafts Obligations under finance lease and hire purchase contracts Other taxes and soaal security Accruals 9.451 8,764 2.3% 5.149 1202 8,546 25.067 18,938 13 Credltors: amounts fallin8 due after more than C￿ year 2021 8ank loans and overdrafts Obligations under finance lease and hi purchase contracts 16.220 26.335 1.334 17.554 3,730 30,065 14 Mo¥ement In fvnds riDdudinE Resour￿5 +)ther expended At lJ•uwy plnsl1055es At29 2022 Resirfcted fvn￿. Re5trirted inMme funds: 540 Total Unrestrlrted funds: General fund5 148.738 425 1405,680) 168.926 Total fuftds 149278 425.868 1405,6801 169,466 DowSl3n EnvdLVB10.. 5DF28CWFD24E874KblD33799522E8 Willow Tree Family FaTm N¢)tes to the kcounts Unrestrlrted fvnds Trf•l Fixed assets 168.394 18.626 168.394 18.626 Net current assets Creditors due in more than one year and provisions 117.554) 117.5541 169,466 169.466 16 Re£onciliation of net debt At29 December 2022 At l Januay Cash and cash equivalents 19,867 19,867 13,298) 13.2981 16,569 16.569 Bank loans. Obligations under HPIFinance leases {35.099) 18.879) (43.978} 9.428 5.149 14.577 125.671) 13.7301 129.4011 Net debt 124.1111 11.279 112,8321 17 CommitmeThts Annual commitments under non