Company registration Iiumber.. 06509944 Charity registration number.. 1125245 Stonebridge City Farni (A company limiied by guarantee) Annual Report alld Financial Statements for the Year Ended 31 March 2021 Cojnmunity Accounting Plus Units l & 2 North West 41 Talbot Street Nottin¥hatn NGI 5GL
Stonebridge City Farm Contents Reference and Administrative Details Trustees, Report 2to7 Independent Examiner's Report Statement of Financial Activities 9tolO Balance Sheet Statement of Cash Flows 12 Notes to the Financial Statements lito24
Stonebridge City Farm Refer¢n¢¢ and Administrative D¢t#ils Tru5t¢es Laura Summers, Chair Luke Raddon Jacksoi), Viee Chair (froni Dec 20?1) Clare Chrisp, Treasiirer Liiida Stevenson Elizabeth Bennett Trevor Smallpiece Peter Arn)itage Allanah Cresswell Senior Management Tea Luke O'Brien Kristina Jone5 Heather Slater Reiss Sutton Prillcipal Office Stonebridge Road St Anii's Nottingham NG3 2FR Company Registration Number 06509944 Charity Registration Nutnber 1125245 Independent Examiner John O'Brien, employee of Community Accounting Plus Units l & 2 North West 41 Talbot Street Nottingham NGI 5GL Page I
Stonebridge City Farm Trust¢¢s' Report The trustees. who are directors for the purposes of company law, present the aiinual report together with the financial 5tatement5 of the charitable coinpany for the year ended 31 March 2021. Trustees Laura Summers. Chair Luke Raddon Jackson, Vice Chair (from Dec 2021) Clare Chrisp, Treasurer Linda Stevenson Elizabeth Bennett Trevor Smallpiece Karen Pitts (resigned 30 September 2021) Kevin Donohoe (re5igiied 30 September 2021) Victoria Burrows (resigned 30 April 20?1) Structure? governance and mallagement alure olgowerning docNmenl The charity is a company limited by guarantee and registered charity. It is operated under the rules of its memorandum and articles of association dated 20 February 2008. It has no share capiial and the liabiliry of each member in the event of winding-up is limited to £1. Recruilmenl pPOintMeNt uftrustees Each year i trllstee5 5taiid dom'ii and potential new trustees subinit an application to become a tllJ5tee. If they 5at15fy the required criteria the applicant5 present themselves at the AGM and member5 Vote on appointment5. Introduetion Stoncbridgc City fami was set up in the late 1970's and officially opened in 1979, to provide a much-needed greeii space in a newly regenerated area of the city. St. Ann's. Today the farni is a charity-rnn initiative. It 15 a free community resource - a slice of the collntyside in the heart of the City of Nottingham. The Centre is open every day and provides a working farni environment for vi51tors across the East Midlands, whilst also providing the platform for developing people with a learning disability or a mental health challenge. The 5lte is accessible to all and is popular with schools and colleges. Our Vision "To be a special place, loved by the coinmunity." Our Mission 'Stonebrid¥e City Fatyn helps people throu¥h inclu5lVe SUPPOrt, training and by providing a free, safe and accessible space for everyone." Page 2
Stonebridge City Farm Trust¢¢s' Report Objectives and aetivities Objects ond 'I'h¢ obj¢cts of the charity are.. To advance trdining, ediication and social development and to provide facilities for social and occupational development, recreatioii and other leisiire-time occupatioii in the interest of social welfare for the inhabitants of Nottingham, Greater NottinghaTn and surroundingF area. To proinote the benefit of the inhabitants of Greater NottinghaTn Without distiiiction of gender or sexual orientation, age. race or of political, religious or other opinions, by as50ciatiiig the Local Authorities aiidlor Voluntary. organisation5 aiid inhabitaiits in a cominoii effect to advance training and educatioii to provide facilities iii the interest of Social welfare for recreatioii and persoi)al development with the object of iinproving conditions of lite for those inhabitants and to tontribute to the ecot)omic regeneration of the area of benefit particularly for those who have i)eed of such facilities by reason of their disabilitv, disadvantage in the labour market. youth, age, poverty or social and etoi)omic circumstances. Advai)te the training and education of said ii)habitants using the n)edia or agriculture. horticulture and related subjects ai)d ii) principles of self-discipline and of good citizenship througl) their leisure-time activities so that they develop their social, economic. moral and spiritual capacities and grow to full maturiiy as individuals and members of society, and their condiiions of life are improved. Promote among the inhabitants of ihe area of benefit humanity and morality by educating them in the care of and consideration of all living things and for these purposes to care for animals and grounds so thai the immediate beneficiaries of the project and the public will have a greaier awareness of and appreciation for living things. ro provide education and training for people who have need of such facilities by reasoii of their disadvantage iii the laboiir market: physical or learning di5abilit)' or by reasoii of being a non-trdditional leamer or returner to learninu 50 as to contribute to their appropriate pro¥ression tom'ards employment or greater awareness of and appreciatioii for living things. To provide facilities for people with phvsical and leaming disabiliiies. menthl healih problems or other high support needs io access high qualiiy iherapeuiic activities and w provide these facilities lollowing contempornry good practice with regard to the needs of said people. As well as aimin¥ to be a flagship community or¥ani5ation, operating in one of the most deprived neighbourhoods of the UK. the lami focuses on achieving the following social outcomes.. Improving health and well-being", Increasing social inclusion: Increasing indepei)dei)ce'. Realisii)g poiei)iial (and skills development). Page 3
Stonebridge City Farm Trust¢¢s' Report Public benefil The activitie5 of the fatyn provide the people of NottingFhain and Nottinghamshire with a unique opportunity to enjoy country life in the city centre. free of chargFe. The farm help5 to reduce isolation and promote health and 'ell-being for inany local families who vi5lt re¥Tularly. We have a reputation for being busy and pn)ductive and also providing an oasis and safe haven for those who need conlidence building and personal benelit. We specialise in bringing people together as a team with identilied shared interests. The Stonebridge team and volunteers promote social iiiieraction withii) our community and help break down barriers that exist in the wider community, encouraging positive interaciion '1th our visitors. We are a fully inclusive community group that includes a range of people w,ho benefit from an introduciion or re-introduction to learning. work-based relationships and socialising. Many of our group are marginalised, vulnerable and furthest from the job market. They tell us that they feel part of a 'fami family, where they are valued and appreciated. The charity provides support to many people with a leaming disability or a mental health challenge Ihrough the provision of ork-baSed opportunities in animal care, gardening, catering, retail, cusiomer services, cleaning and maintenance. This is supplemented by individual support and development plans. People benefit from something entirely different to other facilities in Nottinghgm, in an enjoyable and stimulating environment. In addition, the charity provides its facilities to local schools and colleges. Students of all ages come to the farm as part of stn]ctLired learning prograTnmes. For many, we provide a chance to begin a more positive journey. We also encourage local organisations to allow their employees to volunteer with us as part of their approach to corporate social responsibility. The trustees conlirm ihai they have coinplied ivith the requirements of seciion 17 Ol- the Charities Acr 201 I to have due regard to the public benefit guidaiice published by the Chariiy Commission for England and Wales. Achievements and performance Covid-19 had a major impaci during ihe 2020121 financial year. During ihe course of the year. with three perilxls in lockdown. the fami was closed to visitors for over half the year. Knowing that there would be increased levels of anxiety and iSLilation amongst ihe public and the volunteer group we support, we immediately implemented a range of actions to positively respond. Over 120 volunteers received weekly phone calls and emails to check Iheir wellbeing,. Specific siippnrt plans were a£rccd for the 20 most vulnerable volunteers, with liaison with ¢xt¢rng1 support agencies to maintsin care pro£rammcs,' Resource packs and activities were digitally and physically sent to volunteers; Fami based learning pa¢ks and artivities were prepared in support of Ial schools, home learning programmes. Although closed to the public and to volunteers, we made the decision to positively maintsin beneficial activities, albeit remotely. We worked to 'bring the farni to the people, as they couldn't come to the fam]; A Iiew website was laiiiiched and social media utili5ed, enablii)gF us to provide fatin iiem's and updates., 650 freshly prepared three course meals were delivered for two local homeless hostels and an independent livingj cominunity., We distributed fresh produce grow at the fatin, plants and hanging baskets to foodbank5 and independent living communities. Page 4
Stonebridge City Farm Trust¢¢s' Report When restrictions were eased and we were able to open, we implemented a number of onsite operational adaptations iii order to protect the health and wellbeii)g of everyone, restricting iiumber5 aiid indoor g5atherings as required. Some of these adaptations will stay a5 they have proved to be a welcome additioii to the faTm's offer. Our efforts received positive feedback froin visitor5 aiid groups who came to the fatin. The pandemit has highlighted that the benefits we provide are even more relevant and useful. Helping to reduce isolation and promote good healtl) ai)d wellbeing for all has never been so important. Closure due to the pandemic meant that onsite trading ii)come and donations were significantly reduced. Every elyort was n)ade to access emergency funding opportunities. through grants. furloughing and other donatioi)s from individuals and local businesses. All costs were carefully controlled. Financial review 20201? I was the third successive year that the charity reported a financial surplus. It was £137,217 in this year. The improved level of reserves gives the charity greaier security, however, fundraising and growing all income streams, as well as controlling costs, remain a key fU$. Althoiigh the mix of funding streams was affected b}, Covid-19, pursuit of additional sources of income and a model of mixed income continues. Pursuit of multi-year fiinding arrangements and long-temi relationships is a priority. During the year, the Board of Trustees established a desiated development fund to provide the financial resources required to investigate and establish plans for the tUre development of Stonebridge City Fami. Puliry on reJerve The fami's reserves policy is to aim io hold reserves {ie backed by cash) which are sufticient to cover six months operating costs of approximately £198.600. Cash reserves of £237.670 12020.. £ l OJ.1461 is now meeting this larget. Principul riskf umduncerlainlies Financial sustainability is inextricably linked to the fami's ability to win grants and donations which support core activities. this situation had been exacerbated b}. cuts in local authority funding. We are aware that w¢ operate in an increasingl}, coinpetitive funding environment where funders, requircments are becoming ever Tnore rigoroiis. In response to these challenges tllJ5tees have recTUited a coinpletely new managernent team .hose skills and experieiice is already bearing fruit. Page 5
Stonebridge City Farm Trust¢¢s' Report Plans for future periods Aims kejy objeclivesf&rfutureperiods Our strategy focuses oil six priorities. l. Delivering iinpactful social oiitcomes. 2. Becoming a Community Beacon and being a vital community asset as a visitor centr¢, ¢diication centre and g trdining centre. 3. Creating aiid sustaining a vibrant visitor centre. 4. AchievingT carbon neutrality. 5. Achieving financial sustainability. 6. Ensuring strong leadership and a]1 effective team. Aciivlilesplartnedio &chieve alms Although progress on some prlijects was delayed by Covid-19 and ihe need tl) adapt, the Board remains focussed on the delivery of the strategy. Emphasis will be given to the further strengthening of governance, the potential devellipment of our facilities and the enhgnced delivery of impactful social outcomes, for visitors and volunteers. As a community charity, Stonebridge City Farni is in a strong position to grow and develop, so that even greater public benefit Can be achieved in Ihe yeaTS ahead. All this has been achieved throiigh the hard work and dedication of oiir wonderful staff and volunteers and I would like to take this opportunity to express our sincere thIk5 to them. Statement of Tru5tee5' Responsibilities The trustees (who are also Ihe directors of Stonebridge City Farm for the pun)oses of company lawl are responsible for preparing the Iriistees, report and the financial siatements in accordance with the United Kingdom Accounting Siandards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. Company law requires the trustees to prepare fiiiancial statements for each financial year. Uiider company law the tru5tee5 IllU5t not approve the fiiiancial statements unles5 the}. are 5at15fied that they ¥ive a true and fair view of the state of affairs of the charitable coinpany and of its incomin¥ re50urce5 and applicatioii of resources, includin¥ its incoine and expenditure, for that period. In preparin¥ these financial statements, the trustees are iequired to.. select suitable accounting policies and apply them consistently,. obs¢rv¢ the methods and principles iii the Charities SORP; make judgements and estimates that are reasonable and prudent: state whether applicable UK Accounting Standards have been follL)wed, subject to any material departures disclosed and explained in the financial statements: and prepare the financial statements on the gFoing concern basis unless it is inappropriate to presume that the charitable company will coiitinue in b115iness. The trustees are responsible for keeping adequaie accounting records that are sufficient tl) show and explain the charitable company's transactions and disclose with reasonable accuracy at any time ihe financial position of the charitable company and enable them to ensure that the financial siatements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for raking reasonable steps for the prevention and detection of fraud and oiher irregularities. Page 6
Stonebridge City Farm Trustees, Report The annual r¢port was appmv¢d by the trust¢¢s of the ¢harity OD 27 Jgnyary 2022 and $ign¢d on its beh41f by.. aurz Smau eompAnl¢s provlsloD gtstement This report h&$ been prepartd in aecordattce with the Sm1 Companies regime under the Companies A¢1 2006. Page 7
Stonebridge City Farm Independent Examiner's Report to the trustees of Stonebridge City Farm Independent examiner's report to the tru5tee5 of Stonebridge City Farm ('the Compan> ) I report to the charity trustees oil my exatnination of the accounts of the company for the year ended 31 March 2021. Responsibilities and basis of report As the charity's trustees of the company (and also its directors for the purposes of company lawl 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 Ihe Company are noi required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respert of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 {'the 2011 Act,). In carrving out my examination I have followed the directions given by the Charity Commission under section 145{5) (bl of the 2011 Art. IndepeThdent examiner s statement Siiice the Conipaiiy's ¥r05s incoine exceeded £250,(X)O your examiner must be a member of a body listed in 5eLtion 145 of the 201 I ALt. I coiifinn that l ain qualified to uiidertake the examinatioii because l am a member nd Fellow of the Associatioii of Charity Indepeiideiit Examiner5, wl)iLh is oiie of the listed bodies. I l)ave Lompleted my examination. I confiTm that no matters l)ave come to Iny attention in coi)nection with the examination giving me cause to believe that in anj material respect.. l. accounting records were not kept in respect of Ihe Company as required by stIOn 386 of the 2006 Act; or 2. the account5 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 thai the accounts give a 'true and fair, view which is iiot a matter considered as part of an iiidependent examination: or 4. the accounts have iiot been prepared in accordance with the method% and principles of the Statement of Recommended Practice for ac¢ounting alld reporting by charities lapplicable to charities preparing their account% in accordance with the Finan¢ial Reporting Standard applicable in ihe UK and R¢piiblic of Ireland (FRS 10?)]. I have i)0 concems and have come across no other Inatters in connection with the examii)ation to which attention should be drawn in this report in order to enable a proper understanding of the aecounts to be reached. John O'Brien Msc: FCCA, FCIE, employee of Community Accounting Plus Fellow of the Association of Charity Independent Examiners Units l & 2 North West 41 Talbot Street Nottinghain NGI 5GL Date.. 2810112022 Page 8
Stonebridge City Farm Statement of Finaneial Attivities for the Year Ended 31 March 2021 (Ineluding Income and Expenditure Account and Statement of Total Reeognised Gains and Losses) Unrestricted funds Restricted funds Total 2021 Total 2020 Note Income and Endowments fro. Donations and legacies Charitable activities Investment income 347,447 47,653 156 347,447 186,862 156 176,901 245,450 139,209 Total Income J95 ?56 139,209 534,465 422,5J2 Expenditure on.. Charitable activities {274.902} (122.3461 (397.2481 (393.171} Total Expenditure {274.902} (122.3461 (397.2481 (39J.171} Net iiicome 1?0.354 11,029 16,86i (11,029) 137,217 29,361 Transfers between lldS Net movement in fvnds 131.38i 137,217 29,361 Reeoneiliation of funds Total funds brought forward 94,669 14,894 109,563 80,?02 Total funds catTied fonvard 20 ?26,(152 246,780 109,563 All of the charity's activities derive from continuing operations diiring the above two periods. The funds breakdown for 2021 is shown in note 20. Page 9
Stonebridge City Farm Statement of Finaneial Attivities for the Year Ended 31 March 2021 (Ineluding Income and Expenditure Account and Statement of Total Reeognised Gains and Losses) These are the figure5 for the previous accounting period and are included for comparative purposes Unrestrieted Restricted Total funds funds 2020 Note Income and Endowments from: Doiiations aiid le¥acie5 Charitable activities Investment in¢ome 176,901 165,250 176,901 245,450 80,200 Total income 342,332 80,200 422,532 Expenditure on.. Chariiable activities {308,170) (85,001) {39i,171} Total expenditure {308,170) (85,001) (39i,171} Net incomel{expenditure) 34.102 (4,801) 29,361 Net movement in funds 34,162 (4,801) 29,361 Reconciliation of funds Total funds brought forward 60,507 19,695 80,202 Total funds carried fL)rward 20 94,669 14,894 109,56i Page 10
Stonebridge City Farni (RegistrwtioD number: 06509944) Bal4ne¢ She¢t Is at 31 Mareh 2021 2021 2020 Note Fi¥¢d ¥sJetJ T4n8ible Hs5et 12 13.138 4.759 Cllrrtnt asltts Sttk5 Debtors C8sh at bank and irt h8nd 13 14 2.0 6.216 103.146 2,936 ?37,670 242.606 111.362 Credltord: AmoDAts falllD% due wlthln on¢ ye•r 16 {8.964 6.558 Net ?J3.642 104,804 Net a55ets 246,780 109.563 F•Dds of the ekarlty: Res¢rhet¢O Intomt funds Rcstrictcd fund5 20 20,728 14.894 Unrestrf¢t¢d ID¢ome funds Unr¢stricd fvDd$ 226.052 94,669 Totsl funds 20 246.780 09,563 For the fhnan¢ial year ending 31 M?h 2021 the ¢harity was entitled to exemptkon frorn audit under section 477 ofthe Companke5 Act 2006 relating to Small companies. Llirtctors, resTK)nsibilities'. The mernbers have not wuir&J the charity to obtsin an audit of its ¥wunts for th¢ yeBr irt question in accordance with section 476- and The director5 aeknowledge their responsibiliti¢s for wnplyin8 with the requirements of the Act with re5pe<t to accounting record5 and the preparntion of a¢¢ounts. Th¢s¢ &ccounts have be¢n prepared in a¢cordance with the provision5 applicAbl¢ to mPAnieS $ubjed to the 5rn811 COTnpanies regime. The financial ststernents on pages 9 to 24 were apwoved by th tr$, and authorised for is5uc on 27 Janry 2022 and signed on their behalf by= Clare Chrisp Trusttt Pa8¢11
Stonebridge City Farm Statement of Cash Flow$ for the Year Ended 31 March 2021 2021 2020 Note Cash tlows from operating activities Net cash income 137,217 29,361 Adjustments to cash nows from non-cash items Depreciation Investment income 8,053 1156) 2,651 145,114 il,831 Working capital adjustments Decreasel(increase) in debtOTS Increase/(decreasel in creditors 14 3,280 2.406 12,?54) 15.094} Net cash flows from 0ratIng activities 150,800 24,483 Cash t10S from investing activities Interesi receivable and similar income Purchase of taii¥ible fixed assets 156 (16,432} Net cash f]ows from investing activities Net increase in cash and cash equivalents (16,276) 134,524 24,664 Cash and cash equivalents at l April 103,146 78,482 Cash and cash equivaleiits at 31 March 237,670 103,146 Reconciliation of llet cash flow to 0Vement in llet fund5 Increase iii cash 134,524 24,664 Net funds at l April 2020 103,146 78,482 Net fund5 at 31 March 2021 237,670 103,146 All of th¢ ¢ash flows are derived from continuing operdtions during the above two periods. Page 12
Stonebridge City Farm Notes to th¢ Financial Statements for th¢ Year Ended 31 Mar¢h 2021 Aeeounting polieies Sumrnary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparaiion of these financial statsments are sei out below. These policies have been consistently applied to all ihe years presented, unless otherwise stated. Statement of eomplik)nee The fingncial statements have been prepared in accordance with Accounting and Reporting by Chariiies.. Statement of Recommended Practice applicable to charities preparing their accounis in accordance with the Financial Reporting Stfjndfjrd applicable in the UK and Republic of Ireland (FRS 102) (effective l January 4015) - (Charities SORP (FRS 1021), the Financial Reporting Stsndgrd applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011. Basis of preparation Stot]ebridge City Farm ineets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recogjiised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. Going coneern The financial stalemeiits have been prepared on a going concem basis. The trustees assess whetl)er the use of goiiig conLetli 15 appropriate i.e. whether tl)ere ale any material uncertainties related to events or conditions that may cast significant doubt oli the ability of the charity to coiitinue as a ¥oiii¥ LonLern. The trustee5 tnake thi5 as5es5ment in respect of a period of one year frotn tl)e date of approval of the financial statements. Exemption from preparing a cash now 5tat¢ment The charity opied io adopl Bulleiin I published on 2 February 2016 and have therefore not included a cash flow siatemeni in these financial statements. Income 8nd endowments Voluntary income including donations, gifts. legacies and grants that prlivide core funding or are of a general nature is recognised when the charity has eniitlement io ihe income. li is probable thai the income w'ill be received and the amouni can be measured wilh sufficieni reliabiliiy. Donfil{n.% and legucie.s Donations are recognised when the charity has been notified in mlting of both the amount and settlement date. lil the event that a donatioii is subject to conditions that require a level of perfonnance by the charity before the charity is entitlcd to the funds, the income is deferred and iiot recognised until either those conditions are fully et. or the fulfilment of those coiiditions 15 wholly Th'ithin the control of the charity. and it is probable that these conditions will be fulfilled in the reportin¥ period. GruNts reeelv4ble Grants are recognised when the charity has an entitlement to the funds and any conditions linked ro the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and incliided on the balance sheet as deferred income to be released. Page 13
Stonebridge City Farm Notes to th¢ Financial Statements for th¢ Year Ended 31 Mar¢h 2021 Expenditure All expcnditiir¢ is rQgnised once there is a legal or constructive obligation to that ¢xp¢nditur¢, it is probable settlemcnt is required and the amoiint can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregaie similar costs to that ¢ategnry. Where cost% cannot be dire¢tl}' attribiit¢d to particular headiiig% they havc been allocated on a basi% con%istent with the use of resoiirces, with Central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of th¢ asset's use. Other support costs are allated based oii the spread of stsff costs. Chtsrltthble aeilvliles c.haritable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneliciaries. It includes both costs that cai) be allocated directly to such activities and those costs of an indirect nature necessary to support them. Taxatio The charity is CL)nsidered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the defiiiition of a charitable company for UK corporation tax purposes. Accordingly, the chariry is potentially exempt from taxation in respect of income L)r capital gains received within categories covered by Chapter i Part I l of the Corporation Tax Act 201 O or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to chariiable purposes. Tangible fixed assets Individual fixed assets costing £500.00 or more gre initially recorded at cost: less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Depreeiation and amortisation Depreciation is provided on tangible fixed assets so as to }TIte off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows.. A55et class Buildings Fixtures & fittings IT equipment General equipment Depreciation rnethvd and rate 6.670/0 oii a straight line basis 20.0 /0 on a straight line basis 33.3 /0 on a straight line basis 10.OQ/o on a straight line basis Stock Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow Inoving stocks. Cost is detem)ined usii)g the first-in. first-out {FIFO). Trade debtors Trade debtors are amounts due from customers for merchandise sold or services perfonned in the ordinary Lourse of business. Trade debtors are recognised initially at the transaction price. The}, are subsequently measured at amortised cost using the effective interest method. less provision for impaimient. A provision for the impaimient of trade debtors is established M,hen there is objective evidence that the charity will not be able to collect all amounts due according to rhe Liriginal tern)s of the receivables. Page 14
Stonebridge City Farm Notes to th¢ Financial Statements for th¢ Year Ended 31 Mar¢h 2021 Cash and eash cquivalcnts Ca%h and cgsh cqllivalcnts ¢omprise ¢ash on hgnd and ¢all deposits, and other short-tem) highly liquid investment% that are readily convertibl¢ to a knoTh amount of ¢ash and are subjert to an insignificant risk of ¢hange in value. Trade ereditors Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary. coiirse of hu%iiiess from suppliers. Accounts pa}'able are cla8%ified a% ciirrent liabilities if the ¢harity does not have an unconditioiial rifwht, at the end of the reporting period, to defer Settlement of the creditor for at least N".elve moiiths after the reporting date. If there 15 ali unconditioiial riLFht to defer settlement for at least twelve months after the reportingF date, they are presented as non-cutt liabilities. Trade creditors are recogni5ed iiiitially at the transaction price and 5ub5equently measured at amortised cost usiiibF the effective interest Tnethod. Fund structure Unrestricted income funds are general funds that are available for use at the trustees, discretion ii) furtherance of the objectives of the charity. Restricted inclime funds are Ihose grants for use in a particular area or for specific purposes. the use of which is restricted to that area or pun)ose. Pensions And other post retirement obligations The chariry operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the chariti, hgs no legal or constructive obligation to pay fiirther contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recogni5ed in the Statement of Fiiiancial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recogni5ed as a prepayment. 2 Income from donations and legacies Unrestricted funds Total 2021 Total 2020 General Donations and legacies. Donations from coinpanies, trusts and similar pro¢eeds Donations from individuals Grants. including capital grants., Govemment grants Grants from other charities 16.662 83,428 16,662 83,428 56,105 109,833 77,538 169.819 77,538 169,819 10,963 347,447 347,447 176,901 Page 15
Stonebridge City Farm Notes to th¢ Financial Statements for th¢ Year Ended 31 Mar¢h 2021 3 Income from eharitable activities Unrestricted funds Restricted funds Total 2021 Total 2020 General Activities contributions Grants & donations Room hire Sales & fees Sundry receipts 9,989 80,200 2,580 152,182 499 139,209 139,209 47,478 175 47,478 175 47,653 139,209 186,862 ?45,450 4 Grants & donations Unrestricted funds Restrieted fund5 Total The National Lottcry Community Fund Trusthouse Charitable Foundation The Jones 1986 Charitable frust Nottinghan)shire Cominui)ity Foundation Edward Gostling Fouiidation Evan Cornish Folliiddtion The February Foundation The Hobson Charity CLA Charitable Trust National Garden Scheme The Gray Trust Amaiida Lee Charitable Trust Gordon Memorial Trust HMRC JRS Grant CAF Resilience Fund Nottingham Ciry Council The Wolfson Foundation The National Emergency Trusi The Renewal Tiust Nottinghamshire County Council St James, Plac¢ Anonymous Lexis Nexis Noitingham Civic Society 73,360 16,000 15,000 10,000 7,500 4,545 3,000 3,000 2,500 2,304 1,000 500 73,360 36,000 I 5,000 15,000 12,500 4,545 3,000 3,000 20,000 5,000 5,000 2,304 1,000 500 500 500 i3.249 30,028 33,289 25,000 17.500 15.000 I1,)0 10,(x)o 5,?50 5,000 5,000 30,028 33,289 25,000 17,500 15,000 I 1,000 i 0,000 5,?50 5,000 5,000 Page 16
Stonebridge City Farm Notes to th¢ Financial Statements for th¢ Year Ended 31 Mar¢h 2021 unrestricted funds Restrieted funds Total The Chetwood Foundation The Thomas Farr Charity The Wheaicroft Fund The Co-op J N Derbyshire Trust Opeii Gate Tn]st Encompass Group Sevem Trent Water The Bailey Thomas Charitable Fund The Leigh Trust The Lady Hind Trust Eversheds The ASDA Foundatiot] The Jesse Spencer Trust Trent Bridge Rotary Club The Paget Trust The Fomiai) Hardy Trust Groundwork5 i,000 5,000 5,000 3,941 3.000 2.500 2,400 5,000 5,000 5,000 3,941 3.000 2,500 2,400 2,000 2,000 2,000 2.000 1,762 1,300 1,000 1,000 1,000 1,000 800 2,000 2,000 2.000 1,762 1,300 1,000 1,000 1,000 1,000 800 Gift Aid Sundry grants and donations 82,497 82,497 J47,447 139,209 486,656 S InveStent iNeome Vnrestri¢¢ed funds Total 2021 Total 2020 General Interest receivable and similar income; Interest receivable on bank deposits 156 156 Page 17
Stonebridge City Farm Notes to th¢ Financial Statements for th¢ Year Ended 31 Mar¢h 2021 6 Expenditure on eharitable activities Unrestricted funds Restricted funds Total 2021 Total 2020 General Bank charges Barn costs Cleaning & hygiene Depreciation Equipmei)L repairs & renewals Events & activitie5 Garden costs Insurance Legal & professional Marketing Payroll service Premises Inaintenance & 5ecuTity Printing & stationery Publications & subscriptions Rent & rates Shop & cafe Staff expenses Staff training Suiidry expe115es Telephoiie, inteTnet & postsge 1,440 15,203 3,483 2,650 8.679 1,294 6,096 1,994 6,753 357 1,209 20,142 1,065 525 620 2,060 18,723 5,123 8.053 8,679 2,453 18,687 6,382 2,651 3,520 1,640 5,403 5,90i 3,695 3,359 8,772 963 1,009 35,411 3,566 92 1,384 946 3,147 221 7,480 2,940 9,900 578 1,722 20,142 1,560 525 513 495 551 266 817 1,226 32,395 3,593 70 493 719 13,715 4,381 228,397 17,271 251 2,100 1,017 881 17,271 402 2,100 1,017 1,249 11,689 6,121 267,803 368 3,578 5,756 Volunteer expenses Wages, Nl & pension 365 173.465 274,902 122,346 397,248 393,171 7 Net inc(Trmingloutgoing resources Net incoming resources for the year include.. 2021 2020 Depreciation of fixed assets 8,053 Page 18
Stonebridge City Farm Notes to th¢ Financial Statements for th¢ Year Ended 31 Mar¢h 2021 8 Trustees remuneration and expenses No truste¢s, nor any persons connected with them, have received any remuneration from the charity durillg th¢ year. No trustees have received any reimbursed expenses or any other benefits from the charity during the year. 9 Fees payable to independent examiner During the period, the fees payable (excluding VAT) io the charity's independent examiner Community Accounting Plus are analysed as follows.. 2021 2020 Independent examination 1,310 1,310 10 Staff costs The aggregate payroll costs were as follows.. 2021 2020 Staff £os¢s during the year were: Wages and sglaries Social security costs Pension costs 250,491 12,976 21?560 4.796 267,803 228,397 The monthly average number L)f persons (including senior management team) employed by the charity during the year was as follows.. 2021 No 2020 No Average number of employees 13 11 (2020- 8) of the above employees participated in the Defined Contributioii Pension Schemes. Contributions to the employee pension schemes for the year totalled £4,336 (2020- £4,796). No employee received emoluments of more thgn £60,000 diiring the yew. The total employee benefits of the key management personnel of the charity were £161,319 (2020- £145,981). Page 19
Stonebridge City Farm Notes to th¢ Financial Statements for th¢ Year Ended 31 Mar¢h 2021 I l Taxation The charity is a registered chgrity and is therefore exempt from taxgtion. 12 Tangible fixed assets Leasehold Land and buildings Fixture5 & fittings General equipment IT equipmellt Total Cost At l April 2020 Additions 155,055 7,091 559 9,144 15,873 900 172,190 16.432 At 31 March 2021 155,055 7,650 25,017 900 188.629 Depreciation At l April ?020 Charge for the year 154,366 5,161 842 7,544 6,891 360 90 167,431 8.05i At i l March 2021 154,596 6,003 14,4i5 450 175,484 Net book walut At 31 March 20?] 459 1,647 10.58? 450 13,138 At 31 March 2020 689 1.9iO 1.600 540 4,759 13 Stock 2021 2020 Stocks 2,000 14 Debtors 2021 2020 Trade debtors Prepaynents Other debtors 4,019 1,220 1,716 2,197 6.216 Page 20
Stonebridge City Farm Notes to th¢ Financial Statements for th¢ Year Ended 31 Mar¢h 2021 IS Cash and cash equivalents 2021 2020 Cash on hand Cash at bank 294 237,376 269 102,877 237,670 103,146 16 Creditors: amounts falling due within one year 2021 2020 Trade creditors Other tsxation and social securiry Other creditors 2,999 3.763 2,202 68i 4,565 1,310 8.964 6,)58 17 Charity status The charity is a company limited by guarantee and consequently does not have share capiial. Each of the trustees is liable to contribute an amount not exceeding £ I iowards the assets of the charity in ihe event of liquidation. 18 Commitments Capital cofftmitrnents At 31 March 20? I the charity had non-cancellable commitments under an operating lease for Land & buildings. The annual rent is sei at £817 and the lease runs until 2045. The total amount contracted for bui not provided in the financial statements was £19,608 (2020- £20,425). 19 Related partv transaetions Ther¢ w¢re no relgi¢d pgrt). transactions in the year. Page21
Stonebridge City Farm Notes to th¢ Financial Statements for th¢ Year Ended 31 Mar¢h 2021 20 Funds Balance at 31 March 2021 Ba12nce al I April 2020 Incoming resour¢e5 Resources expended Transfers Unrestricted funds Gener1 General Fund 94,669 395,256 1274,902) 11,029 226,052 Restricted lunds Core costs (Jones 1986) Rabbit Hutches Gaideii fund IT equipment Farm rnniiing costs (CLA} Farm running costs (Lottery) Young people with disabilities VL)lunteers training & recruitment 15,(100 {15,000) (1.020) (1,38?) (5,40)) (2,500) {73,360) (500) 1,020 2,304 19.545 2,500 73,360 500 1,295 111.0291 13,500 26,000 {23,180) 16,320 Total restrieted funds 14,894 139,209 1192.346) 111,0291 20,728 Total funds 109,i63 534,465 1397.248) 246,780 Page 22
Stonebridge City Farm Notes to th¢ Financial Statements for th¢ Year Ended 31 Mar¢h 2021 Balance at I April 2019 Ineorning re50ur¢¢5 Resources expended Balance at 31 March 2020 Unrestricted funds Gener1 General Fund 60,507 342,332 (308,170) 94,669 Restricted funds Core costs (Jones 1986) Rabbit Hutches Notts Con)tnunity Foundatioi) Staff Uniforms (Provincial Grand Lodge) Garden fund 15,(100 4,000 (15,000) (2,980) (i,995} 1,020 3,995 2.000 500 5,000 (2.000} 11261 15,000} 374 Training & materials (Y-Notts) Christmas dinner for the Elderly {NCF} IT equipment CLA Chaitable Trusi (Education cabin) New Appeals IGrLiunds maintenance) Volui)teers training & recruitment Salarie5 & training IT Equipment {Boshier Hinton) 500 15001 (5,?00) 5,200 3,000 (3,000) 7,500 (7,500) (23,200} (14,500} i?,000) 36.700 14,500 13,500 Total restri¢¢ed fund5 19,695 80,200 (85,001) 14,894 Total funds 80,202 4?2,5 J2 (39J,1711 109,563 The specific purposes for which the funds are to be applied are as follows.. This year we have the followii)g restricted funds.. The funding received from the Jones 1986 Charitable Trust wa5 to help towards core costs,. The fundin¥ received last yeai from tl)e Petplan Charitable Trust Wd5 for the purchase of riibbit hutLhes; The Garden fund was fundin¥ received from the Hardy Plant Society last year and fiirthtr funding froin the National Garden scheme was received this year. This is for the purchase of plants lor the gardens.. This year's IT equipment fund helped with the purchase of laptops and a daiabase, the fundiiig was received from Edward Gostling. Noiiinghamshire Communit}, Foundation and Evan Comish; There are 2 funds for farni running costs, the funding was received Irom CLA Charitable frust and the National Lottery Communiiy Fund. This funding was used io help support the general running costs to keep the fami open: The funding received from the Amanda Lee Charitable Trust was for rhe work and support given to young people with disabilities ivho work at the farm., The Volunteers, training and recwitment fund included funding received from Trusthouse, the February Foundation, the Hobson Charity. the Gray Trust and the Gordon Memorial Trust, Ihis helped with the training of volunteers, volunteer expenses and purchasing t-shirts. Page 23
Stonebridge City Farm Notes to th¢ Financial Statements for th¢ Year Ended 31 Mar¢h 2021 21 Analvsis of net assets between funds Unrestricted funds Restri¢t¢d funds 2021 Total funds General Tangible fixed assets Current assets Curreni liabilities 13,138 221,878 (8.964) 13,138 242,606 18.964} 20,728 Total net assets 226.052 20,728 246,780 Unrestricted funds Restrieted funds 2020 Total funds General Tangible fixed assets CutTent a5set5 Current liabilities 4.759 96.468 (6,558) 4,759 111,362 16,5581 14,894 Total net assets 94,669 14.894 109,563 Page 24