Docusign Envelope ID: 908A2D68-DA6A-49E7-BD64-8D1092665164 ## **Willow Tree Family Farm** **Charity No. 1122101** **Company No. 04866838** **Trustees' Report and Unaudited Accounts** **29 December 2023** Docusign Envelope ID: 908A2D68-DA6A-49E7-BD64-8D1092665164 **Willow Tree Family Farm Contents** ||Pages|| |---|---|---| |Trustees' Annual Report|2 to 4|| |Independent Examiner's Report||5| |Statement of Financial Activities||6| |Summary Income and Expenditure Account||7| |Balance Sheet||8| |Statement of Cash flows||9| |Notes to the Accounts|10 to|17| |Detailed Statement of Financial Activities|18 to|19| Page 1 Docusign Envelope ID: 908A2D68-DA6A-49E7-BD64-8D1092665164 **Willow Tree Family Farm Trustees Annual Report** The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 29 December 2023. ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Company No. 04866838** ## **Charity No. 1122101** ## **Registered Office** Willow Tree Family Farm Langwith Road Shirebrook Mansfield NG20 8TE ## **Directors and Trustees** The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year: C.M. Duncan (Resigned 15 February 2024) J.A. Fletcher I. Grainger-Grimes (Resigned 10 February 2024) A. Hind D. Mason-Meakin D.A. Taylor ## **Accountants** Peach Accountancy ## **OBJECTIVES AND ACTIVITIES** The purposes of the Charity are to promote and advance education and provide facilities for recreation and other leisure time occupation in the interests of social welfare for the general public, in particular young people, without distinction of their age, gender, sexual orientation, race or culture, political or religious opinions, in agriculture, conservation, the care and consideration of all animals and other associated subjects with the object of improving the conditions of life for said persons. The public continue to benefit from the educational and cultural opportunities provided by the farm and many activities offered to local children and families. We have continued with the volunteer program and have welcomed the support of the unemployed, disabled, children and professionals. We continue to help the unemployed gain experience within employment to help them prepare for work and raise their ambitions and confidence. Unfortunately this program has been reduced by government cuts. Students have been on work placements to help develop their skills in the animal care, hospitality, travel and tourism sectors. The students have been aged 14 upwards. We have continued to support equality within the charity, ensuring individuals with a disability to engage in work-based skills. Page 2 Docusign Envelope ID: 908A2D68-DA6A-49E7-BD64-8D1092665164 **Willow Tree Family Farm** **Trustees Annual Report** ## **ACHIEVEMENTS AND PERFORMANCE** The farm has continued to stay financially stable throughout 2023, with total income including donations and trading income generated being comparable to 2022. Due to flooding in October 2023, the farm was closed extensively from mid October up to early December. This not only reduced general admissions considerably it also had a knock on effect with our xmas bookings. Had we stayed open this time we would have expected to see a growth in sales for the year to be over 10% of total revenue. We are still in dispute with the insurance company as at the end of August 2024 as to the payout to cover the lost revenue. As per our consultations during 2022/2023 ( as highlighted in the 2022 trustees report ) Our plans for development of new areas and general improvements to the site have continued throughout 2023, with more information included below in our ‘plans for future periods’ Following on from last year, the site continues to run more efficiently thanks to the introduction of the digitickets and our food/beverages systems in 2022. We are also working closely with all our members of staff to look at ways we can further improve our efficiency and how we can make further improvements to the day to day running of the site. As agreed in 2022 we have increased the staffing levels of the charity during the year to bring in an additional 2 members of staff. ## **FINANCIAL REVIEW** Overall running costs of the farm have stayed consistent when comparing this year to 2022. There has been a slight increase over the year in expenditure for wages , which was anticipated due to changes in staffing. As expected due to the energy crisis, our electric/gas bills have risen considerably during this year, and have since risen again post year end into 2024 . There has also been a increase in the repairs and maintenance made towards the farm this year ( 2023: 39,041 2022: 17,598 ). The majority of the extra expenditure relates to groundworks and the installation of a septic tank during the year, plus extra expenditure required towards the end of the year to rectify the flood damage. Part of this has been recouped from the insurance company. We will continue to monitor our expenditure going forward As in previous years we have continued to invest in capital expenditure for the charity, which included new bouncy castles, new projectors, stage lighting and sound equipment, a new site alarm and the purchase of a large tentipi which can be used by visitors to the farm. ## **PLANS FOR FUTURE PERIODS** Following on from last year, the charity is still in discussions to extend the long term lease of the site to May 2053, but continue to secure our site tenancy. We aim for the new site lease to take affect from 2028.Plans have been drawn up for the new café, playbarn, offices and sports hall as outlined in the trustees report for 2022. Once the new lease is agreed, the plans will be submitted for approval.The charity continues to make improvements to the farm, including renovations to the pathways, seating and access points for those with additional needs. As a charity we are also aware of our carbon footprint and continue to make use of LED lighting and natural lighting where possible. These are areas we will continue to look at and develop in the future. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. The above report 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 2006 and in accordance with the Charities SORP (FRS 102). Page 3 Docusign Envelope ID: 908A2D68-DA6A-49E7-BD64-8D1092665164 **Willow Tree Family Farm Trustees Annual Report** Signed on behalf of the board A. Hind Trustee 29 August 2024 Page 4 Docusign Envelope ID: 908A2D68-DA6A-49E7-BD64-8D1092665164 **Willow Tree Family Farm Independent Examiners Report** ## **Independent Examiner's Report to the trustees of Willow Tree Family Farm** I report to the charity trustees on my examination of the financial statements of Willow Tree Family Farm for the year ended 29 December 2023. ## **Responsibilities and basis of report** As the charity's trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act. Having satisfied myself that the financial statements of the Charity 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 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. ## **Independent examiner's statement** As the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ACCA, which is one of the listed bodies. I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe: - accounting records were not kept in accordance with section 386 of the 2006 Act ; or - the financial statements do not accord with those records; or - the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or - the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 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 financial statements to be reached. Daniel Peach ACCA Peach Accountancy 29 August 2024 Page 5 Docusign Envelope ID: 908A2D68-DA6A-49E7-BD64-8D1092665164 **Willow Tree Family Farm Statement of Financial Activities** ## **for the year ended 29 December 2023** |**Notes**
**Income and endowments**
**from:**
Donations and legacies
4
Other trading activities
5
Investments
6
Other
7
**Total**
**Expenditure on:**
Raising funds
8
Other
9
**Total**
Net gains on investments
**Net income**
10
Transfers between funds
**Net income before other**
**gains/(losses)**
**Other gains and losses**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**2023**
**£**
320,273
89,853
6
15,000|**Restricted**
**funds**
**2023**
**£**
-
-
-
-|**Total funds**
**2023**
**£**
320,273
89,853
6
15,000|**Total funds**
**2022**
**£**
279,961
127,907
-
18,000| |---|---|---|---|---| ||425,132
147,238
273,714|-
-
-|425,132
147,238
273,714|425,868
154,809
250,871| ||420,952
-|-
-|420,952
-|405,680
-| ||4,180
-|-
-|4,180
-|20,188
-| ||4,180|-|4,180|20,188| ||4,180
168,926|-
540|4,180
169,466|20,188
149,278| ||173,106|540|173,646|169,466| Page 6 Docusign Envelope ID: 908A2D68-DA6A-49E7-BD64-8D1092665164 **Willow Tree Family Farm** **Summary Income and Expenditure Account** ## **for the year ended 29 December 2023** |Income
Interest and investment income
**Gross income for the year**
Expenditure
Interest payable
Depreciation and charges for
impairment of fixed assets
**Total expenditure for the year**
Net income before tax for the year
**Net income for the year**|**2023**
**£**
425,126
6
425,132
388,903
1,243
30,806
420,952
4,180
4,180|**2022**
**£**
425,868
-| |---|---|---| |||425,868| |||374,571
1,350
29,759| |||405,680| |||20,188| |||20,188| Page 7 Docusign Envelope ID: 908A2D68-DA6A-49E7-BD64-8D1092665164 **Willow Tree Family Farm** **Balance Sheet** ## **at 29 December 2023** |**Company No.**
**04866838**
**Notes**
**2023**
**£**
**Fixed assets**
Tangible assets
12
172,739
172,739
**Current assets**
Stocks
13
19,950
Cash at bank and in hand
4,020
23,970
**Creditors:**Amount falling due within one year
14
(14,063)
**Net current assets**
9,907
**Total assets less current liabilities**
182,646
**Creditors:**Amounts falling due after more than one year
15
(9,000)
**Net assets excluding pension asset or liability**
173,646
**Total net assets**
173,646
**The funds of the charity**
**Restricted funds**
16
Restricted income funds
540
540
**Unrestricted funds**
16
General funds
173,106
173,106
**Reserves**
16
**Total funds**
173,646|**2022**
**£**
168,394| |---|---| ||168,394
20,995
16,569| ||37,564
(18,938)| ||18,626
187,020
(17,554)| ||169,466| ||169,466| ||540| ||540
168,926| ||168,926| ||169,466| These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. For the year ended 29 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. Approved by the board on 29 August 2024 And signed on its behalf by: A. Hind Trustee 29 August 2024 Page 8 Docusign Envelope ID: 908A2D68-DA6A-49E7-BD64-8D1092665164 **Willow Tree Family Farm Statement of Cash flows** ## **for the year ended 29 December 2023** |**Cash flows from operating activities**
**Net income per Statement of Financial Activities**
**Adjustments for:**
Depreciation of property, plant and equipment
Dividends, interest and rents from investments
Decrease in stocks
Decrease in trade and other payables
**Net cash provided by operating activities**
**Cash flows from investing activities**
Payments for property, plant and equipment
Dividends, interest and rents from investments
**Net cash used in investing activities**
**Cash flows from financing activities**
Repayment of borrowings
Repayments of obligations under finance lease and hire
purchase contracts
**Net cash used in financing activities**
**Net decrease in cash and cash equivalents**
**Cash and cash equivalents at the beginning of the year**
**Cash and cash equivalents at the end of the year**
**Components of cash and cash equivalents**
Cash and bank balances|**2023**
**£**
4,180
30,806
(15,006)
1,045
(730)
20,295
(35,152)
15,006
(20,146)
(9,379)
(2,167)
(11,546)
(11,397)
16,569
5,172
4,020
4,020|**2022**
**£**
20,188
29,759
(18,000)
4,505
(1,406)| |---|---|---| |||35,046
(39,110)
18,000| |||(21,110)| |||(9,428)
(5,149)| |||(14,577)| |||| |||(641)| |||19,867| |||19,226| |||| |||16,569| |||| |||16,569| Page 9 Docusign Envelope ID: 908A2D68-DA6A-49E7-BD64-8D1092665164 **Willow Tree Family Farm Notes to the Accounts** ## **for the year ended 29 December 2023** - 1 **Accounting policies** ## **Basis of preparation** 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. ## **Change in basis of accounting or to previous accounts** There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years. ## **Fund accounting** - Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. - Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. - Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal. ## **Income** - Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. - Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income. - Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets Page 10 Docusign Envelope ID: 908A2D68-DA6A-49E7-BD64-8D1092665164 **Willow Tree Family Farm Notes to the Accounts** ## **Expenditure** - Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates. - Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs. - Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. - Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs. - Other expenditure These are support costs not allocated to a particular activity. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Freehold investment property** Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as 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 is the amount the charity would have been willing to pay for the items on the open market. ## **Trade and other debtors** Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **Cash and cash equivalents** Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management. ## **Trade and other creditors** Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Page 11 Docusign Envelope ID: 908A2D68-DA6A-49E7-BD64-8D1092665164 **Willow Tree Family Farm** **Notes to the Accounts** ## **Research and development** Expenditure on research and development is written off in the year in which it is incurred. ## **Foreign currencies** Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred. All exchange differences are are taken into account in arriving at net income/expenditure. ## **Leased assets** Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases. Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets. Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis. ## **Pension costs** The charity operates a defined contribution plan for its employees. A defined contribution 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 further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds. ## **Receipt of donated goods, facilities and services** All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity. ## 2 **Company status** The company is a private company limited by guarantee and consequently does not have share capital. Page 12 Docusign Envelope ID: 908A2D68-DA6A-49E7-BD64-8D1092665164 **Willow Tree Family Farm** ## **Notes to the Accounts** - 3 **Statement of Financial Activities - prior year** |3
**Statement of Financial Activities - prior year**|||| |---|---|---|---| |**Income and endowments from:**
Donations and legacies
Other trading activities
Other
**Total**
**Expenditure on:**
Raising funds
Other
**Total**
**Net income**
**Net income before other**
**gains/(losses)**
**Other gains and losses:**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
4
**Income from donations and legacies**
Donations received
5
**Income from other trading activities**
Sales
UK Government grants
Gift Aid|**Unrestricted**
**funds**
**2022**
**£**
279,961
127,907
18,000
425,868
154,809
250,871
405,680
20,188
20,188
20,188
148,738
168,926
**Unrestricted**
**£**
320,273
320,273
**Unrestricted**
**£**
83,079
-
6,774
89,853|**Restricted**
**funds**
**2022**
**£**
-
-
-
-
-
-
-
-
-
-
540
540
**Total**
**2023**
**£**
320,273
320,273
**Total**
**2023**
**£**
83,079
-
6,774
89,853|**Total funds**
**2022**
**£**
279,961
127,907
18,000| ||||425,868
154,809
250,871| ||||405,680| ||||20,188| ||||20,188| ||||20,188
149,278| ||||169,466| ||||**Total**
**2022**
**£**
279,961| ||||279,961| ||||**Total**
**2022**
**£**
125,240
2,667
-| ||||127,907| Page 13 Docusign Envelope ID: 908A2D68-DA6A-49E7-BD64-8D1092665164 **Willow Tree Family Farm** ## **Notes to the Accounts** ## 6 **Income from investments** |Interest
7
**Other income**
Other income
8
**Expenditure on raising funds**
_Costs of generating voluntary_
_income_
Donations received
_Fundraising trading costs_
Sales
9
**Other expenditure**
Equipment leases and rentals
Bank loan and overdraft
interest payable
Other interest payable
Employee costs
Motor and travel costs
Premises costs
Amortisation, depreciation,
impairment, profit/loss on
disposal of fixed assets
General administrative costs
Legal and professional costs|**Unrestricted**
**£**
6
6
**Unrestricted**
**£**
15,000
15,000|**Total**
**2023**
**£**
6
6
**Total**
**2023**
**£**
15,000
15,000|**Total**
**2022**
**£**
-| |---|---|---|---| ||||-| ||||**Total**
**2022**
**£**
18,000| ||||18,000| ||||| ||**Unrestricted**
**£**
83,234
64,004
147,238
**Unrestricted**
**£**
28,128
806
437
105,106
3,345
84,414
30,806
10,966
9,706
273,714|**Total**
**2023**
**£**
83,234
64,004
147,238
**Total**
**2023**
**£**
28,128
806
437
105,106
3,345
84,414
30,806
10,966
9,706
273,714|**Total**
**2022**
**£**
92,832
61,977| ||||154,809| ||||**Total**
**2022**
**£**
45,365
913
437
100,039
5,127
52,840
29,759
9,808
6,583| ||||250,871| Page 14 Docusign Envelope ID: 908A2D68-DA6A-49E7-BD64-8D1092665164 **Willow Tree Family Farm** ## **Notes to the Accounts** ## 10 **Net income before transfers** |This is stated after charging:
Depreciation of owned fixed assets
11 **Staff costs**
Salaries and wages
Pension costs
No employee received emoluments in excess of £60,000.
12 **Tangible fixed assets**
**Cost or revaluation**
At 30 December 2022
Additions
At 29 December 2023
**Depreciation and**
**impairment**
At 30 December 2022
Depreciation charge for the
year
At 29 December 2023
**Net book values**
At 29 December 2023
At 29 December 2022
13 **Stocks**
Raw materials and consumables
**Carrying value analysed by activities**
Sales
14 **Creditors:**
amounts falling due within one year
Bank loans and overdrafts
Obligations under finance lease and hire
purchase contracts
Other taxes and social security
Accruals|**2023**
**£**
30,806
**2023**
104,298
808
105,106
**2023**
**£**
19,950
19,950
**2023**
**£**
19,950
19,950
**2023**
**£**
7,292
1,563
472
4,736
14,063|**£**
256,639
35,152
291,791
88,246
30,806
119,052
172,739
168,393|**2022**
**£**
29,759
**2022**
98,936
1,103| |---|---|---|---| ||||100,039| ||||**£**
256,639
35,152| ||||291,791| ||||88,246
30,806| ||||119,052| ||||172,739| ||||168,393| ||||**2022**
**£**
20,995| ||||20,995| ||||**2022**
**£**
20,995| ||||20,995| ||||**2022**
**£**
9,451
2,396
1,202
5,889| ||||18,938| Page 15 Docusign Envelope ID: 908A2D68-DA6A-49E7-BD64-8D1092665164 **Willow Tree Family Farm** **Notes to the Accounts** ## 15 **Creditors:** amounts falling due after more than one year |Bank loans and overdrafts
Obligations under finance lease and hire
purchase contracts
16 **Movement in funds**
**Restricted funds:**
**Restricted income funds:**
_Total_
**Unrestricted funds:**
**General funds**
**Total funds**
17 **Analysis of net assets between funds**
Fixed assets
Net current assets
Creditors due in more than one year and
provisions|**At 30**
**December**
**2022**
540
540
168,926
169,466|**2023**
**£**
9,000
-
9,000
**Incoming**
**resources**
**(including**
**other**
**gains/losses**
**)**
**£**
-
-
425,132
425,132|**Resources**
**expended**
**£**
-
-
(420,952)
(420,952)
**Unrestricted**
**funds**
**£**
172,739
9,907
(9,000)
173,646|**2022**
**£**
16,220
1,334| |---|---|---|---|---| |||||17,554| |||||**At 29**
**December**
**2023**
**£**
540| |||||540| |||||173,106| |||||173,646| |||||**Total**
**£**
172,739
9,907
(9,000)| |||||173,646| Page 16 Docusign Envelope ID: 908A2D68-DA6A-49E7-BD64-8D1092665164 **Willow Tree Family Farm** **Notes to the Accounts** ## 18 **Reconciliation of net debt** |Cash and cash equivalents
Bank loans
Obligations under HP/Finance leases
Net debt|**At 30**
**December**
**2022**
**£**|**Cash flows**
**£**|**At 29**
**December**
**2023**
**£**| |---|---|---|---| ||16,569|(12,549)|4,020| ||16,569
(25,671)
(3,730)
(29,401)
(12,832)|(12,549)
9,379
2,167
11,546
(1,003)|4,020
(16,292)
(1,563)| ||||(17,855)| ||||(13,835)| ## 19 **Commitments** ## _**Operating lease commitments**_ Annual commitments under non-cancellable operating leases are as follows: ||**2023**|**2023**|**2022**|**2022**| |---|---|---|---|---| ||**Land and**
**buildings**|**Other**|**Land and**
**buildings**|**Other**| ||**£**|**£**|**£**|**£**| |Operating leases with expiry date:||||| |**_Pension commitments_**||||| |||**2023**||**2022**| |||**£**||**£**| |The pension cost charge to the company||||| |amounted to:||808||1,103| ## 20 **Related party disclosures** _Name of related party_ New Roots Care & Education Ltd The company is controlled by Mr David _Description of relationship_ Taylor and Mr Adam Hind who are also _between the parties_ directors and trustees of the charity. During the year an amount of £15,000 was received from New Roots Care & Education Ltd in respect of rent (2022: £18,000). At the _Description of transaction_ balance sheet date the amount due to/from _and general amounts_ New Roots Care & Education Ltd was £Nil _involved_ (2022: £Nil) _**Controlling party**_ The company is limited by guarantee and has no share capital; thus no single party controls the company. Page 17 Docusign Envelope ID: 908A2D68-DA6A-49E7-BD64-8D1092665164 **Willow Tree Family Farm** **Detailed Statement of Financial Activities** ## **for the year ended 29 December 2023** |**Income and endowments from:**
Donations and legacies
Donations received
Other trading activities
Sales
UK Government grants
Gift Aid
Investments
Interest
Other
Other income
**Total income and endowments**
**Expenditure on:**
Costs of generating donations and
legacies
Donations received
Costs of other trading activities
Sales
**Total of expenditure on raising**
**funds**
Other expenditure
Equipment leases and rentals
Bank loan and overdraft interest
payable
Other interest payable
Employee costs
Salaries/wages
Pension costs
Motor and travel costs
Vehicles - General costs|**Unrestricte**
**d funds**
**2023**
**£**
320,273
320,273
83,079
-
6,774
89,853
6
6
15,000
15,000
425,132
83,234
83,234
64,004
64,004
147,238
28,128
806
437
29,371
104,298
808
105,106
3,345
3,345|**2023**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|**Total funds**
**2023**
**£**
320,273
320,273
83,079
-
6,774
89,853
6
6
15,000
15,000
425,132
83,234
83,234
64,004
64,004
147,238
28,128
806
437
29,371
104,298
808
105,106
3,345
3,345|**Total funds**
**2022**
**£**
279,961| |---|---|---|---|---| |||||279,961| |||||125,240
2,667
-| |||||127,907| |||||-| |||||-| |||||18,000| |||||18,000| |||||425,868
92,832| |||||92,832| |||||61,977| |||||61,977| |||||154,809
45,365
913
437| |||||46,715| |||||98,936
1,103| |||||100,039| |||||5,127| |||||5,127| Page 18 ## Docusign Envelope ID: 908A2D68-DA6A-49E7-BD64-8D1092665164 **Willow Tree Family Farm Detailed Statement of Financial Activities** |Premises costs
Light, heat and power
Premises insurances
Premises repairs and
maintenance
General administrative costs,
including depreciation and
amortisation
Depreciation of
Bank charges
Information and publications
Stationery and printing
Sundry expenses
Telephone, fax and broadband
Legal and professional costs
Accountancy and bookkeeping
Other legal and professional
costs
**Total of expenditure of other costs**
**Total expenditure**
Net gains on investments
**Net income**
**Net income before other**
**gains/(losses)**
Other Gains
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|24,314
21,059
39,041
84,414
30,806
523
4,375
1,450
3,310
1,308
41,772
4,355
5,351
9,706
273,714
420,952
-
4,180
4,180
-
4,180
168,926
173,106|-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
540
540|24,314
21,059
39,041
84,414
30,806
523
4,375
1,450
3,310
1,308
41,772
4,355
5,351
9,706
273,714
420,952
-
4,180
4,180
-
4,180
169,466
173,646|17,804
16,841
18,195| |---|---|---|---|---| |||||52,840| |||||29,759
692
5,309
1,124
1,228
1,455| |||||39,567| |||||1,529
5,054| |||||6,583| |||||| |||||250,871| |||||405,680
-| |||||20,188| |||||20,188
-| |||||20,188| |||||149,278| |||||169,466| Page 19