Company no. 06412816 Charity no. 1122303
Dean Farm Trust
Report and Unaudited Financial Statements
31 March 2024
Dean Farm Trust
Reference and administrative details
For the year ended 31 March 2024
Company number 06412816 Charity number 1122303 Registered office The Carlson Suite 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 resigned 3 May 2024 Ms A Rigby appointed 3 May 2024 Mr E Williams appointed 18 April 2024 Ms R M Williams resigned 3 May 2024 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 2024
The trustees present their report along with the financial statements of the charity for the year ended 31 March 2024.
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 are for the 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 £326k (2023: £245k).
The trustees continue to support the charity with a lot of unpaid support. The charity now has an established bank of over 30 volunteers.
We made a difference by increasing volunteer base and upskilling the volunteers so we could reduce the number of animal care staff. The charity cut running costs and put all non essential projects on hold. The charity did not rescue any more animals with the exception of hens.
2
Dean Farm Trust
Report of the trustees
For the year ended 31 March 2024
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.
It has always been the plan for Dean Farm Trust to become self-sufficient and not reliant upon Dean Healthcare South West Ltd.
The charity faced significant financial challenges in the previous year which required a change in strategy to ensure we continued with our work and increased funds.
The charity increased fundraisers online: in January 2024 we launched a regular online raffle with donations from individuals and companies. Creating between £1,000 to £5,000 per raffle. Many individuals also created their own fundraiser for us from running, baking, selling items and having stalls in markets.
We increased corporate days, individual tours and held four open day events.
Our CRM system was developed to manage the donors and maximise engagement.
FINANCIAL REVIEW
Financial position
In 2023/24, Dean Farm Trust generated funding of £354,788 (2023: £279,288) and spent £297,693 (2023: £315,189). These financial statements therefore show a surplus of £57,095 (2023: deficit of £35,901). Total reserves on 31 March 2024 were £146,761.
In October the charity launched its largest appeal which had significant impact. Within six months we had increased our monthly donations by £8,585 a month, along with one off donations totalling £59,691.
From this appeal we attracted a major donor who match funded £100,000 for the charity, with the first £50,000 received in 2023.
From October 2023 the charity has received no donations from Dean Healthcare, the charity is now stand alone and successfully operating just with public funds.
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 four 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.
3
Dean Farm Trust
Report of the trustees
For the year ended 31 March 2024
PLANS FOR FUTURE PERIODS
In May 2024 the charity appointed 2 trustees for the board with the experience the charity needs in finance, project planning and strategy with a view to appoint a further 3 during the course of this year.
The charity is now in a more stable position and revisiting the short medium- and long-term strategy to ensure it is financially successful and meets its aims and future plans.
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.
4
Dean Farm Trust
Report of the trustees
For the year ended 31 March 2024
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
Independent examiners
Godfrey Wilson Limited were re-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 21 June 2024 and signed on their behalf by
Ms J M Frankland - trustee
5
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 2024, which are set out on pages 7 to 21.
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
Since the charitable company’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 the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies. Godfrey Wilson Limited also provides bookkeeping 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: 21 June 2024 Robert 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
6
Dean Farm Trust
Statement of financial activities (incorporating an income and expenditure account)
For the year ended 31 March 2024
| Note Income from: Donations 3 Other trading activities 4 Investments Total income Expenditure on: Raising funds Charitable activities Total expenditure 6 Net income / (expenditure) 7 Transfers between funds Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Restricted Unrestricted £ £ 17,415 309,042 - 28,214 - 117 17,415 337,373 - 35,823 12,358 249,512 12,358 285,335 5,057 52,038 (5,588) 5,588 (531) 57,626 10,358 79,308 9,827 136,934 |
2024 Total £ 326,457 28,214 117 354,788 35,823 261,870 297,693 57,095 - 57,095 89,666 146,761 |
2023 Total £ 245,406 33,879 3 |
|---|---|---|---|
| 279,288 | |||
| 45,013 270,176 |
|||
| 315,189 | |||
| (35,901) - |
|||
| (35,901) 125,567 |
|||
| 89,666 |
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.
7
Dean Farm Trust
Balance sheet
As at 31 March 2024
| As at 31 March 2024 | ||||
|---|---|---|---|---|
| 2024 | 2023 | |||
| Note | £ | £ | £ | |
| Fixed assets | ||||
| Tangible assets | 10 | 79,863 | 100,979 | |
| Current assets | ||||
| Stock | 11 | 1,838 | 450 | |
| Debtors | 12 | - | 63 | |
| Cash at bank and in hand | 95,383 | 25,726 | ||
| 97,221 | 26,239 | |||
| Liabilities | ||||
| Creditors: amounts falling due within 1 year | 13 | (30,323) | (37,552) | |
| Net current assets / (liabilities) | 66,898 | (11,313) | ||
| Net assets | 14 | 146,761 | 89,666 | |
| Funds | 15 | |||
| Restricted funds | 9,827 | 10,358 | ||
| Unrestricted funds | ||||
| General funds | 136,934 | 79,308 | ||
| Total charity funds | 146,761 | 89,666 |
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 21 June 2024 and signed on their behalf by
Ms J M Frankland - trustee
8
Dean Farm Trust
Notes to the financial statements
For the year ended 31 March 2024
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 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.
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.
9
Dean Farm Trust
Notes to the financial statements
For the year ended 31 March 2024
1. Accounting policies (continued) 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.
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.
10
Dean Farm Trust
Notes to the financial statements
For the year ended 31 March 2024
1. Accounting policies (continued)
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.
11
Dean Farm Trust
Notes to the financial statements
For the year ended 31 March 2024
2. Prior period comparatives: statement of financial activities
| Income from: Donations Other trading activities Investments Total income Expenditure on: Raising funds Charitable activities Total expenditure Net income / (expenditure) Transfers between funds Net movement in funds |
Restricted £ £ 30,177 215,229 - 33,879 - 3 30,177 249,111 - 45,013 14,887 255,289 14,887 300,302 15,290 (51,191) (4,932) 4,932 10,358 (46,259) Unrestricted |
2023 Total £ 245,406 33,879 3 |
|---|---|---|
| 279,288 | ||
| 45,013 270,176 |
||
| 315,189 | ||
| (35,901) - |
||
| (35,901) |
3. Income from donations
| Donations Grants Total income from donations Prior period comparative: Donations Grants Gifts in kind Total income from donations |
Restricted £ £ 4,525 253,905 12,890 55,137 17,415 309,042 Restricted £ £ 7,867 188,617 22,310 6,612 - 20,000 30,177 215,229 Unrestricted Unrestricted |
2024 Total £ 258,430 68,027 |
|---|---|---|
| 326,457 | ||
| 2023 Total £ 196,484 28,922 20,000 |
||
| 245,406 |
12
Dean Farm Trust
Notes to the financial statements
For the year ended 31 March 2024
4. Income from other trading activities
| Income from other trading activities | ||
|---|---|---|
| Sale of merchandise Social lotteries Events Total income from other trading activities |
2024 Total £ 19,650 2,034 6,530 28,214 |
2023 Total £ 32,483 1,193 203 |
| 33,879 |
All income from other trading activities in the current and 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 2024 was £4,637 (2023: £4,612). There are no unfulfilled conditions or contingencies attaching to these grants in the current year.
13
Dean Farm Trust
Notes to the financial statements
For the year ended 31 March 2024
6. Total expenditure
| 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 Losses on disposal Sub-total Total expenditure Allocation of support and governance costs |
Raising funds £ 9,127 1,189 7,236 - 18,271 - - - - - - - - - - - - 35,823 - 35,823 |
Charitable activities £ - - - 42,435 117,603 - - - 20,000 - 3,544 - 1,307 - - 21,665 - 206,554 55,316 261,870 |
Support and governance costs £ - - - - - 379 2,061 12,313 - 5,625 - 6,230 - 19,266 4,403 - 5,039 55,316 (55,316) - |
2024 Total £ 9,127 1,189 7,236 42,435 135,874 379 2,061 12,313 20,000 5,625 3,544 6,230 1,307 19,266 4,403 21,665 5,039 |
| 297,693 - |
||||
| 297,693 |
Total governance costs were £14,773 (restated 2023: £11,125)
14
Dean Farm Trust
Notes to the financial statements
For the year ended 31 March 2024
6. Total expenditure (continued) Prior period comparative - restated
| Prior period comparative - restated Raising funds £ Fundraising expenses 2,846 Trading expenses 2,067 Advertising and marketing 3,804 Animal care and support - Staff costs (note 8) 36,296 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 45,013 - Total expenditure 45,013 Allocation of support and governance costs |
£ - - - 49,247 112,185 - - - 20,000 - 4,300 5,969 561 - - 28,755 221,017 49,159 270,176 Charitable activities |
£ - - - - - 19 1,067 8,785 - 7,096 - - - 26,348 5,844 - 49,159 (49,159) - Support and governance costs |
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 |
Prior year expenditure has been reclassified to be comparable with the current year. The restatements are purely reclassifications between charitable activities and support and governance costs, and they do not affect total expenditure.
15
Dean Farm Trust
Notes to the financial statements
For the year ended 31 March 2024
7. Net movement in funds
This is stated after charging:
| Depreciation Loss on disposal of fixed assets Operating lease payments Trustees' remuneration Trustees' reimbursed expenses Independent examiner's remuneration: Independent examination (excluding VAT) Other services (excluding VAT) |
2024 £ 21,665 5,039 20,000 Nil Nil 2,050 3,447 |
2023 £ 28,755 - 20,000 Nil Nil 1,950 1,208 |
|---|---|---|
8. Staff costs and numbers Staff costs were as follows:
| Salaries and wages Social security costs Pension costs |
2024 £ 130,777 3,517 1,580 135,874 |
2023 £ 141,846 3,417 3,218 |
|---|---|---|
| 148,481 |
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 £26,785 (2023: £29,341).
| Average head count | 2024 No. 11.00 |
2023 No. 10.00 |
|---|---|---|
9. Taxation
The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
16
Dean Farm Trust
Notes to the financial statements
For the year ended 31 March 2024
10. Tangible fixed assets
| £ Cost At 1 April 2023 53,944 Additions in year 3,698 Disposals in year - At 31 March 2024 57,642 Depreciation At 1 April 2023 18,449 Charge for the year 5,673 Disposals in year - At 31 March 2024 24,122 Net book value At 31 March 2024 33,520 At 31 March 2023 35,495 11. Stock Merchandise 12. Debtors Other debtors Leasehold improvements |
£ 58,711 1,890 (33,128) 27,473 39,166 7,533 (31,728) 14,971 12,502 19,545 Plant and machinery |
Fixtures and fittings £ 60,771 - (12,320) 48,451 46,386 2,285 (9,368) 39,303 9,148 14,385 |
Motor Vehicles £ 56,161 - (2,561) 53,600 24,607 6,174 (1,874) 28,907 24,693 31,554 2024 £ 1,838 2024 £ - |
Total £ 229,587 5,588 (48,009) |
|---|---|---|---|---|
| 187,166 | ||||
| 128,608 21,665 (42,970) |
||||
| 107,303 | ||||
| 79,863 | ||||
| 100,979 | ||||
| 2023 £ 450 |
||||
| 2023 £ 63 |
17
Dean Farm Trust
Notes to the financial statements
For the year ended 31 March 2024
13. Creditors: amounts due within 1 year
| Trade creditors Accruals Other taxation and social security Other creditors Pensions |
2024 £ 4,653 22,710 2,572 - 388 30,323 |
2023 £ 18,436 4,040 7,437 7,107 532 |
|---|---|---|
| 37,552 |
Included within other creditors is a loan from Mary Frankland (trustee) to Dean Farm Trust which has been made at a fixed interest rate of 0%. The loan was fully repaid in the year and the outstanding balance was £nil (2023: £7,107).
14. Analysis of net assets between funds
| Analysis of net assets between funds | |||
|---|---|---|---|
| Tangible fixed assets Current assets Current liabilities Net assets at 31 March 2024 Prior period comparative Tangible fixed assets Current assets Current liabilities Net assets at 31 March 2023 |
£ - 9,827 - 9,827 £ - 10,358 - 10,358 Restricted funds Restricted funds |
£ 79,863 87,394 (30,323) 136,934 £ 100,979 15,881 (37,552) 79,308 General funds General funds |
Total funds £ 79,863 97,221 (30,323) |
| 146,761 | |||
| Total funds £ 100,979 26,239 (37,552) |
|||
| 89,666 |
18
Dean Farm Trust
Notes to the financial statements
For the year ended 31 March 2024
15. Movements in funds
| At 1 April 2023 £ Restricted funds Moondance Foundation 10,358 Animal Rescue Foundation - Animal Friends - Audrey Lamb - Home for life appeal - Total restricted funds 10,358 General funds 79,308 Total unrestricted funds 79,308 Total funds 89,666 Unrestricted funds |
Income £ - 9,000 1,890 2,000 4,525 17,415 337,373 337,373 354,788 |
£ (10,358) - - (2,000) - (12,358) (285,335) (285,335) (297,693) Expenditure |
£ - (3,698) (1,890) - - (5,588) 5,588 5,588 - Transfers between funds |
£ - 5,302 - - 4,525 At 31 March 2024 |
|---|---|---|---|---|
| 9,827 | ||||
| 136,934 | ||||
| 136,934 | ||||
| 146,761 |
Purposes of restricted funds
Moondance Foundation This funding was provided to cover the cost of feed, bedding, veterinary costs and staff salaries.
Animal Rescue Foundation This funding was provided to cover the cost of replacement fencing.
Animal Friends
This funding was provided to cover the cost of chain harrows.
Audrey Lamb
This funding was provided to cover the cost of animal feed and veterinary costs over the winter.
Home for life appeal This funding was provided to allow the charity to purchase the land it currently rents.
Transfers between funds
The transfers to unrestricted funds are to recognise the purchase of fencing and chain harrows in the year using restricted funds. The restrictions have been discharged by the purchase of the assets.
19
Dean Farm Trust
Notes to the financial statements
For the year ended 31 March 2024
15. Movements in funds (continued) Prior period comparative
| Restricted funds Friesian feed appeal Cattle Crush Moondance Foundation Total restricted funds General funds Total unrestricted funds Total funds Unrestricted funds |
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 |
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 |
2024 £ 20,000 40,000 60,000 |
Restated 2023 £ 20,000 60,000 |
|---|---|---|
| 80,000 |
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, in 2023, Dean Farm Animal Sanctuary supported Dean Farm Trust through the provision of the land and buildings rent free. This was shown as a gift in kind within the accounts.
20
Dean Farm Trust
Notes to the financial statements
For the year ended 31 March 2024
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 £62,000 (2023: £96,000) to Dean Farm Trust.
M J Frankland, trustee, loaned £57 to Dean Farm Trust and withdrew £7,164 during the year. The balance owed to M J Frankland at the year end is £nil (2023: £7,107).
M J Frankland and J Fry, 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. Rent was charged this year, and £20,000 was owed to Dean Farm Animal Sanctuary at the 31 March 2024 (2023: £Nil).
21