2023-03-31-accounts

Company no. 06412816 Charity no. 1122303

Dean Farm Trust

Report and Unaudited Financial Statements

31 March 2023

Dean Farm Trust

Reference and administrative details

For the year ended 31	March 2023
Company number	06412816
Charity number	1122303
Registered office and	The Carlson Suite
operational address	Vantage Point Business Village
	Mitcheldean
	Gloucestershire
	GL17 0DD
Trustees	Trustees, who are also directors under company law, who served during
	the year and up to the date of this report were as follows:
	Ms J M Frankland
	Ms J Fry
	Ms R M Williams
Company secretary	Ms J M Frankland
Bankers	Lloyds Bank Plc
	25 Gresham Street
	London
	EC2V 7HN
	Triodos Bank
	Deanery Road
	Bristol
	BS1 5AS
Independent	Godfrey Wilson Limited
examiners	Chartered accountants and statutory auditors
	5th Floor Mariner House
	62 Prince Street
	Bristol
	BS1 4QD

1

Dean Farm Trust

Report of the trustees

For the year ended 31 March 2023

The trustees present their report along with the financial statements of the Charity for the year ended 31 March 2023.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association and the Statement of Recommended Practice - Accounting and Reporting by Charities (effective from January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The mission statement of the Trust is:

"Dean Farm Trust is all about life, empowerment, education and compassion."

Significant activities

Supporting the mission statement, the primary activity of the Trust is providing shelter, warmth, food and sanctuary to sick, ill-treated and abused animals that have been subjected to factory farming or sport. Part of this is to provide them with a home for life. The Trust will also provide holistic respite and holiday accommodation to people with disabilities and service users who may find it difficult to access mainstream facilities. The Trust also aims to educate people in these issues and the importance of animal welfare and compassionate living.

Public benefit

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on the public benefit when reviewing the Trust's objectives and aims and in planning future activities. They have ensured that the activities carried out have regard to the Charity Commission's public benefit and that the Trust's purpose is beneficial to the public.

Risk management

The trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

Therefore, the trustees are committed to reviewing the major strategic, business and operational risks that the trust faces, with a view to ensuring that appropriate systems and procedures are in place to minimise these risks.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

The Trust is well established having rescued animals since May 2013. During the year, the Trust received donations of approximately £245k (2022: £269k).

The trustees continue to support the Charity with a lot of unpaid support. The Charity now has an established bank of over 30 volunteers.

Fundraising activities

Dean Healthcare South West Ltd donations (a related party), supported the Charity again this year. Other donations income is from fundraisers and public donations

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Dean Farm Trust

Report of the trustees

For the year ended 31 March 2023

It has always been the plan to for Dean Farm trust to become self-sufficient and not reliant upon Dean Healthcare South West Ltd.

With the pandemic hitting Dean Healthcare, the Trustees have been reviewing the Charity's funding and are looking at how the Charity could become self-sufficient. The donation from Dean Healthcare South West Ltd increased during the last year due to the cost of living crisis, which resulted in many other subscribers cancelling their monthly donations.

The Charity has seen an increase in legislative costs for two consecutive years, while there was a small decrease in overall costs in 2022/23.

The Charity's emphasis over the coming year is to reach out to major donors for additional funding and for the Charity to purchase the land it is occupying.

Fundraising activities continued to be predominately held online with digital open days, events and raffles along with external fundraisers that have been carried out by the public.

FINANCIAL REVIEW

Financial position

In 2022/23, Dean Farm trust generated funding of £279,288 and spent £315,189. These financial statements therefore show a deficit of £35,901. Total reserves on 31 March 2023 were £89,666.

The Charity has faced a number of challenges over the last 12 months which have led to a reduction in income over the year. In particular, the Charity has noticed a reduction in donations and trading income as a result of:

• A reduction in emergency donations from major donors that helped to supported the Charity through the covid-19 pandemic;

• A reduction in the level of donations received from regular donors with donors being impacted by the cost of living crisis;

• A reduction in the number of regular donors with donors impacted by the cost of living crisis deciding to stop their donations;

• A reduction in the number of new donors as a result of the cost of living crisis; and

• ▪ A planning issue around the use of the land which prevented the Charity from holding as many open days in 2022/23, reducing the level of donations and trading income over the year.

The trustees are carefully monitoring the financial position of the Charity and will be taking the following actions over the next 12 months to help address some of the issues identified:

• Undertaking a recruitment drive for new volunteers, harnessing their skills to help the Charity with marketing, social media, fundraising within the community and outreach, as well as providing help for organised events;

• ▪Recruiting a new member of staff to work on PR and marketing for the Charity;

• Holding additional open days and events, including themed days at Halloween and Christmas and a 10 year anniversary weekend;

• Resumed grant writing with the aim of securing funds from new major donors, trusts and foundations;

• Resuming outreach activities which ceased during the covid-19 pandemic. Outreach activities include volunteer run stalls at events, supermarkets, other shops and local shows;

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Dean Farm Trust

Report of the trustees

For the year ended 31 March 2023

• Looking to increase the number of corporate team building days that are held and building relationships with corporate donors;

• ▪Looking to increase private visit and tour income;

• ▪Looking to reduce staff costs through the recruitment and training of additional volunteers; and

• Recruiting additional trustees to help support the Charity and provide additional insight and expertise.

The trustees believe that these actions will greatly improve the Charity's financial position over the coming 12 months.

Principal funding sources

The principal funding source was donations from the public.

Reserves policy

The trust is looking to establish a reserves policy which will have the objective of safeguarding the future of Charity, but this is a long-term goal, with the trust having invested in development of the Sanctuary over the past three financial periods.

Going concern

The trustees have considered the going concern position of the Charity and have concluded that the Charity will remain a going concern given the level of reserves held, the actions that are planned for the coming 12 months (as described above) and with the ongoing support of the trustees and Dean Healthcare South West Limited.

PLANS FOR FUTURE PERIODS

The aims of the Trust are to create additional income streams so as to make the Charity more sustainable. This has to be carefully balanced, ensuring the welfare of the animals is not compromised. Additional funding streams which have begun and proved very successful are online fundraisers, open days, corporate days, corporate sponsorships, charitable trusts, grants and legacies. The Trust has plans for developing the sanctuary so it can offer more to the public such as a cafe, shop and education centre, which are its long term aims.

The Charity feels it would benefit from increasing the number of trustees on the board, bringing more experience and expertise in areas which the Charity can greatly benefit from as it develops.

We have introduced our first CRM system which will help manage supporters and fundraising.

The Charity has been successful in securing corporate partnerships with companies that share our values. We are developing this area further to help secure long term funding streams and relationships.

4

Dean Farm Trust

Report of the trustees

For the year ended 31 March 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The Charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Statement of responsibilities of the trustees

The trustees (who are also directors of the Charity for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the Charity and of the income and expenditure of the Charity for that period. In preparing those financial statements the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• ▪ observe the methods and principles in the Charities SORP;

• make judgements and accounting estimates that are reasonable and prudent;

• ▪ state whether applicable UK accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and which 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 for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the Charity guarantee to contribute an amount not exceeding £1 to the assets of the Charity in the event of winding up. The trustees are members of the Charity but this entitles them only to voting rights. The trustees have no beneficial interest in the Charity.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

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Dean Farm Trust

Report of the trustees

For the year ended 31 March 2023

Independent examiners

Godfrey Wilson Limited were appointed as independent examiners to the charitable company during the year and have expressed their willingness to continue in that capacity.

Approved by the trustees on 1 September 2023 and signed on their behalf by

Ms J M Frankland - trustee

6

Independent examiner's report

To the trustees of

Dean Farm Trust

I report to the trustees on my examination of the accounts of Dean Farm Trust (the charitable company) for the year ended 31 March 2023, which are set out on pages 8 to 23.

Responsibilities and basis of report

As the trustees of the charitable company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the charitable company 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 the charitable company's accounts 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

Godfrey Wilson Limited also provides bookkeeping and payroll bureau services to the charitable company. I confirm that as a member of the ICAEW I am subject to the FRC’s Revised Ethical Standard 2016, which I have applied with respect to this engagement.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

• (1) accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act; or

• (2) the accounts do not accord with those records; or

• (3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or

• (4) the accounts 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 accounts to be reached.

Date: 1 September 2023 Rob Wilson FCA Member of the ICAEW For and on behalf of:

Godfrey Wilson Limited

Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD

7

Dean Farm Trust

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 March 2023

Restricted Unrestricted Note £ £ Income and endowments from: Donations and legacies 3 30,177 215,229 Other trading activities 4 - 33,879 Investments - 3 Total ncome and endowments 30,177 249,111 Expenditure on: Raising funds - 45,013 Charitable activities 14,887 255,289 Total expenditure 6 14,887 300,302 Net income / (expenditure) 7 15,290 (51,191) Transfers between funds (4,932) 4,932 Net movement in funds 10,358 (46,259) Reconciliation of funds: Total funds brought forward - 125,567 Total funds carried forward 10,358 79,308	2023 Total £ 245,406 33,879 3 279,288 45,013 270,176 315,189 (35,901) - (35,901) 125,567 89,666	Restated 2022 Total £ 268,747 48,162 8
		316,917
		30,704 280,923
		311,627
		5,290 -
		5,290 120,277
		125,567

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 15 to the accounts.

The 2022 comparatives have been restated to correct the movement in funds during the year and to reclassify income and expenditure to better comply with the charities SORP. Further details are set out in note 18 to the accounts.

8

Dean Farm Trust

Balance sheet

As at 31 March 2023

Note Fixed assets Tangible assets 10 Current assets Stock 11 Debtors 12 Cash at bank and in hand Liabilities Creditors: amounts falling due within 1 year 13 Net current liabilities Total assets less current liabilities Net assets 14 Funds 15 Restricted funds Unrestricted funds General funds Total charity funds	£ 450 63 25,726 26,239 (37,552)	2023 £ 100,979 100,979 (11,313) 89,666 89,666 10,358 79,308 89,666	2022 £ 128,389
			128,389 350 - 19,139
			19,489 (22,311)
			(2,822)
			125,567
			125,567
			- 125,567
			125,567

The directors are satisfied that the company is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the financial statements for the year by virtue of section 477(2), and that no member or members have requested an audit pursuant to section 476 of the Act.

The directors acknowledge their responsibilities for:

• (i) ensuring that the Company keeps proper accounting records which comply with section 386 of the Act; and

• (ii) preparing financial statements which give a true and fair view of the state of affairs of the Company as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of section 393, and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the company.

These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies' regime.

Approved by the trustees on 1 September 2023 and signed on their behalf by

Ms J M Frankland - trustee

9

Dean Farm Trust

Notes to the financial statements

For the year ended 31 March 2023

1. Accounting policies

a) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Dean Farm Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

b) Going concern basis of accounting

The accounts have been prepared on the assumption that the charity is able to continue as a going concern, which the trustees consider appropriate having regard to the current level of unrestricted reserves. The trustees have considered the change in reserves over the last year and are taking steps to address this. Over the next 12 months the trustees are looking to reduce staff costs through the recruitment and training of new volunteers, increase donations income from individuals by hosting additional fundraising events and increase income by increasing the number and quality of applications submitted to major donors, trusts and foundations. The trustees believe this will reduce the size of the deficit as the trustees look to return the charity to a surplus position over the coming years. The trustees believe there are no material uncertainties about the charity's ability to continue as a going concern.

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

d) Donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item, is probable and the economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

10

Dean Farm Trust

Notes to the financial statements

For the year ended 31 March 2023

1. Accounting policies (continued)

e) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank.

f) Funds accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.

g) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

h) Allocation of support and governance costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been allocated in full to expenditure on charitable activities which is deemed to be reflective of the activities of the charity in this period.

i) Tangible fixed assets

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Leasehold improvements 10% straight line Plant and machinery 15% straight line Fixtures and fittings 20% reducing balance Motor Vehicles 20% reducing balance

j) Stock

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.

k) 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.

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Dean Farm Trust

Notes to the financial statements

For the year ended 31 March 2023

1. Accounting policies (continued) l) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

m) Creditors

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.

n) Financial instruments

The charitable company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently recognised at amortised cost using the effective interest method.

o) Pension costs

The company operates a defined contribution pension scheme for its employees. There are no further liabilities other than that already recognised in the SOFA.

p) Foreign currency transactions

Transactions in foreign currencies are translated at rates prevailing at the date of the transaction. Balances denominated in foreign currencies are translated at the rate of exchange prevailing at the year end.

q) Accounting estimates and key judgements

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are depreciation as described in note (i) above.

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Dean Farm Trust

Notes to the financial statements

For the year ended 31 March 2023

2. Prior period comparatives: statement of financial activities

Income from: Donations and legacies Other trading activities Investments Total income Expenditure on: Raising funds Charitable activities Total expenditure Net income / (expenditure) Transfers between funds Net movement in funds 3. Income from donations Donations Grants Gifts in kind Total income from donations and legacies Prior period comparative: Donations Grants Gifts in kind Total income from donations	Restricted £ £ 9,752 258,995 - 48,162 - 8 9,752 307,165 - 30,704 - 280,923 - 311,627 9,752 (4,462) (16,146) 16,146 (6,394) 11,684 Restricted £ £ 7,867 188,617 22,310 6,612 - 20,000 30,177 215,229 Restricted £ £ - 227,842 9,752 11,153 - 20,000 9,752 258,995 Unrestricted Unrestricted Unrestricted	Restated 2022 Total £ 268,747 48,162 8
		316,917
		30,704 280,923
		311,627
		5,290 -
		5,290
		2023 Total £ 196,484 28,922 20,000
		245,406
		2022 Total £ 227,842 20,905 20,000
		268,747

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Dean Farm Trust

Notes to the financial statements

For the year ended 31 March 2023

4. Income from other trading activities

Income from other trading activities
Restricted £ £ Sale of merchandise - 32,483 Social lotteries - 1,193 Events - 203 Total income from other trading activities - 33,879 Unrestricted	2023 Total £ 32,483 1,193 203 33,879	Restated 2022 Total £ 46,587 1,575 -
		48,162

All income from other trading activities in the prior period was unrestricted.

5. Government grants

The charitable company receives government grants, defined as funding from the Welsh Government to fund charitable activities. The total value of such grants in the period ending 31 March 2023 was £4,612 (2022: £3,153). There are no unfulfilled conditions or contingencies attaching to these grants in 2022/23.

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Dean Farm Trust

Notes to the financial statements

For the year ended 31 March 2023

6. Total expenditure

Fundraising expenses Trading expenses Advertising and marketing Animal care and support Staff costs (note 8) Training and recruitment Heat and light Travel and subsistence Rent Office costs Equipment hire Repairs and renewals Motor expenses Legal and professional Bank charges Depreciation Sub-total Allocation of support and governance costs Total expenditure	Raising funds £ 2,846 2,067 3,804 - 36,296 - - - - - - - - - - - 45,013 - 45,013	Charitable activities £ - - - 49,247 112,185 - - 8,785 20,000 - 4,300 5,969 204 - - - 200,690 69,486 270,176	Support and governance costs £ - - - - - 19 1,067 - - 7,096 - - 357 26,348 5,844 28,755 69,486 (69,486) -	2023 Total £ 2,846 2,067 3,804 49,247 148,481 19 1,067 8,785 20,000 7,096 4,300 5,969 561 26,348 5,844 28,755
				315,189 -
				315,189

Total governance costs were £2,340 (2022: £1,200)

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Dean Farm Trust

Notes to the financial statements

For the year ended 31 March 2023

6. Total expenditure Prior period comparative (restated)

Prior period comparative (restated) Fundraising expenses Trading expenses Advertising and marketing Animal care and support Staff costs (note 8) Training and recruitment Heat and light Travel and subsistence Rent Office costs Equipment hire Repairs and renewals Motor expenses Legal and professional Bank charges Depreciation Sub-total Allocation of support and governance costs Total expenditure	Raising funds £ 4,659 3,091 12,115 - 10,839 - - - - - - - - - - - 30,704 - 30,704	Charitable activities £ - - - 47,165 130,838 - - 3,132 20,000 - 2,762 13,776 5,061 - - - 222,734 58,189 280,923	Support and governance costs £ - - - - - 1,705 2,179 - - 3,965 - - - 14,469 5,095 30,776 58,189 (58,189) -	Restated 2022 Total £ 4,659 3,091 12,115 47,165 141,677 1,705 2,179 3,132 20,000 3,965 2,762 13,776 5,061 14,469 5,095 30,776
				311,627 -
				311,627

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Dean Farm Trust

Notes to the financial statements

For the year ended 31 March 2023

7. Net movement in funds

This is stated after charging:

Depreciation Operating lease payments Trustees' remuneration Trustees' reimbursed expenses Independent examiner's remuneration: ▪Independent examination (including VAT)	2023 £ 28,755 Nil Nil Nil 2,340	2022 £ 30,776 15,000 Nil Nil 1,200

8. Staff costs and numbers

Staff costs were as follows:

Salaries and wages Social security costs Pension costs	2023 2022 £ £ 141,846 133,441 3,417 4,448 3,218 3,788 148,481 141,677

No employee earned more than £60,000 during the year.

The key management personnel of the charitable company comprise the trustees and Animal Sanctuary Manager. The total employee benefits of the key management personnel were £29,341 (2022: £27,899).

Average head count	2023 No. 10.00	2022 No. 10.00

9. Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

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Dean Farm Trust

Notes to the financial statements

For the year ended 31 March 2023

10. Tangible fixed assets

£ Cost At 1 April 2022 52,762 Additions in year 1,182 Disposals - Reclassification - At 31 March 2023 53,944 Depreciation At 1 April 2022 13,074 Charge for the year 5,375 On disposals - Reclassification - At 31 March 2023 18,449 Net book value At 31 March 2023 35,495 At 31 March 2022 39,688 Leasehold improvements	£ 63,508 163 (9,960) 5,000 58,711 38,911 9,215 (9,960) 1,000 39,166 19,545 24,597 Plant and machinery	Fixtures and fittings £ 63,298 - (2,527) - 60,771 44,870 4,043 (2,527) - 46,386 14,385 18,428	Motor Vehicles £ 71,156 - (9,995) (5,000) 56,161 25,480 10,122 (9,995) (1,000) 24,607 31,554 45,676	Total £ 250,724 1,345 (22,482) -
				229,587
				122,335 28,755 (22,482) -
				128,608
				100,979
				128,389

11. Stock

11. Stock
Merchandise 12. Debtors Other debtors	2023 £ 450 2023 £ 63 63	2022 £ 350
		2022 £ -
		-

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Dean Farm Trust

Notes to the financial statements

For the year ended 31 March 2023

13. Creditors : amounts due within 1 year

Trade creditors Accruals Other taxation and social security Other creditors Pensions	2023 £ 18,436 4,040 7,437 7,107 532 37,552	2022 £ 6,460 1,200 9,602 4,159 890
		22,311

Included within other creditors is a loan from Mary Frankland to Dean Farm Trust which has been made at a fixed interest rate of 0%. The value of the loan at 31 March 2023 is £7,107 and it is expected to be repaid with the next 12 months.

14. Analysis of net assets between funds

Tangible fixed assets Current assets Current liabilities Net assets at 31 March 2023 Prior period comparative (restated) Tangible fixed assets Current assets Current liabilities Net assets at 31 March 2022	£ - 10,358 - 10,358 £ - - - - Restricted funds Restricted funds	£ 100,979 15,881 (37,552) 79,308 £ 128,389 19,489 (22,311) 125,567 General funds General funds	Total funds £ 100,979 26,239 (37,552)
			89,666
			Total funds £ 128,389 19,489 (22,311)
			125,567

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Dean Farm Trust

Notes to the financial statements

For the year ended 31 March 2023

15. Movements in funds

Restricted funds Friesian feed appeal Cattle Crush Moondance Foundation Total restricted funds General funds Total unrestricted funds Total funds Unrestricted funds	Restated At 1 April 2022 £ - - - - 125,567 125,567 125,567	Income £ 4,531 4,932 20,714 30,177 249,111 249,111 279,288	£ (4,531) - (10,356) (14,887) (300,302) (300,302) (315,189) Expenditure	£ - (4,932) - (4,932) 4,932 4,932 - Transfers between funds	£ - - 10,358 At 31 March 2023
					10,358
					79,308
					79,308
					89,666

Purposes of restricted funds

Friesian feed appeal

This funding was provided to cover the cost of winter hay and to help with the building of a new feed area for our Friesian cows.

Cattle Crush This funding was provided to help purchase a cattle crush for use by the trust.

Moondance This funding was provided to cover the cost of feed, bedding, vetinary Foundation costs and staff salaries.

Transfers

The transfer out of restricted funds represents the purchase of the cattle crush which is held on the balance sheet as a fixed asset. Since there are no conntinuing restrictions on the use of the crush, a transfer has been posted between restricted and unrestricted funds.

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Dean Farm Trust

Notes to the financial statements

For the year ended 31 March 2023

15. Movements in funds (continued) Prior period comparative - restated

Restricted funds Compact tractor appeal Total restricted funds General funds Total unrestricted funds Total funds Unrestricted funds	At 1 April 2021 £ 6,394 6,394 113,883 113,883 120,277	Income £ 9,752 9,752 307,165 307,165 316,917	£ - - (311,627) (311,627) (311,627) Expenditure	£ (16,146) (16,146) 16,146 16,146 - Transfers between funds	£ - At 31 March 2022
					-
					125,567
					125,567
					125,567

16. Operating lease commitments

The charity had operating leases at the year end with total future minimum lease payments as follows:

Amount falling due: Within 1 year Within 1 - 5 years	2023 £ 20,000 80,000 100,000	Restated 2022 £ 20,000 80,000
		100,000

A signed lease exists between Dean Farm Trust and Dean Farm Animal Sanctuary for use of the land and buildings by the Trust. Rental payments are £20k per annum and a legal obligation exists at the year end between the charity and Dean Farm Animal Sanctuary. However, over the last two years, Dean Farm Animal Sanctuary has supported Dean Farm Trust through the provision of the land and buildings rent free. This has been shown as a gift in kind within the accounts.

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Dean Farm Trust

Notes to the financial statements

For the year ended 31 March 2023

17. Related party transactions

M J Frankland and J Fry, trustees of Dean Farm Trust, are also directors of Dean Healthcare South West Ltd. During the year Dean Healthcare South West Ltd made donations of £96,000 to Dean Farm Trust.

M J Frankland, trustee, loaned £5,000 to Dean Farm Trust and withdrew £2,052 during the year. The balance owed to M J Frankland at the year end is £7,107 (2022: £4,159).

M J Frankland and J Fry, the trustees of Dean Farm Trust, are also directors of Dean Farm Animal Sanctuary. Dean Farm Trust rents land and buildings from Dean Farm Animal Sanctuary. Rent is £20,000 p.a. and, during 2022/23, this was provided free of charge as a gift in kind. No balance was owed to Dean Farm Animal Sanctuary at the 31 March 2023 (2022: £Nil).

18. Prior period restatement

The following changes have been made to restate the prior year figures. These changes have been made to correct the prior year movement in funds note, the expenditure note, to recognise the prior year gift in kind and ro correct the classification of income.

Restricted funds movement Correction of transfers between funds in the prior period Revised carry forward balances at 31 March 2022 Expenditure Reclassify repairs and maintenance costs Reclassify staff costs Revised carry forward balances at 31 March 2022 Charitable activities income Income per original accounts Reclassify income as other trading activities Total charitable activities income Expenditure per original accounts Carry forward balance at 31 March 2022 per original accounts	Restricted £ 16,146 (16,146) - Raising funds £ 35,377 (15,512) 10,839 30,704	Unrestricted £ 109,421 16,146 125,567 Charitable activities £ 256,250 15,512 (10,839) 260,923 Charitable activities £ 46,587 (46,587) -	Total £ 125,567 -
			125,567
			Total £ 291,627 - -
			291,627
			Total £ 46,587 (46,587)
			-

22

Dean Farm Trust

Notes to the financial statements

For the year ended 31 March 2023

18. Prior period restatement (continued)

Other trading activities Income per original accounts Reclassify income as other trading activities Total other trading activities income Gift in kind income Income per original accounts Recognise gift in kind income Total donations and legacies income Gift in kind expenditure Total expenditure per original accounts Recognise gift in kind expenditure Total expenditure	£ 1,575 46,587 48,162 £ 248,747 20,000 268,747 £ 291,627 20,000 311,627 Donations and legacies Rent Other trading activities	Total £ 1,575 46,587
		48,162
		Total £ 248,747 20,000
		268,747
		Total £ 291,627 20,000
		311,627

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