Company registration number: 06509944 Charity registration number: 1125245
Stonebridge City Farm
(A company limited by guarantee)
Annual Report and Financial Statements for the Year Ended 31 March 2025
Community Accounting Plus Units 1 & 2 North West 41 Talbot Street Nottingham NG1 5GL
Stonebridge City Farm
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 11 |
| Independent Examiner's Report | 12 |
| Statement of Financial Activities | 13 to 14 |
| Balance Sheet | 15 |
| Statement of Cash Flows | 16 |
| Notes to the Financial Statements | 17 to 26 |
Stonebridge City Farm
Reference and Administrative Details
Trustees Lesley Vernon, Chair Helen Jeffries, Treasurer Linda Stevenson Trevor Smallpiece Lucy Marsh Gary Roughan-Cook Lucy Brown Phillip Roughan-Cook Senior Management Team Peter Armitage Jon Wragg Karen Kemp Marie Wood Charity Registration Number 1125245 Company Registration Number 06509944 Registered Office Stonebridge Road St Ann's Nottingham NG3 2FR Independent Examiner Eva Stevens, employee of Community Accounting Plus Units 1 & 2 North West 41 Talbot Street Nottingham NG1 5GL
Page 1
Stonebridge City Farm
Trustees' Report
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2025.
Trustees and officers
The trustees and officers serving during the year and since the year end were as follows:
Trustees: Lesley Vernon, Chair Helen Jeffries, Treasurer Linda Stevenson Elizabeth Bennett (resigned 10 April 2025) Trevor Smallpiece Lucy Marsh Gary Roughan-Cook Emily Newbury (resigned 10 April 2025) Lucy Brown Phillip Roughan-Cook (appointed 20 June 2025)
Structure, governance and management
Nature of governing document
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 capital and the liability of each member in the event of winding-up is limited to £1.
Recruitment and appointment of trustees
Trustees are appointed through an open, transparent, and skills-led process.
When a vacancy arises, the Board reviews its current skills and experience to identify gaps. Roles are then advertised openly through appropriate networks and platforms, with targeted outreach used where needed to widen diversity. All applicants go through the same formal process.
Short-listed candidates meet with existing trustees and the Chief Executive. Appointments are based on skills, values, and the ability to contribute to effective governance. All appointments are formally approved by the Board in line with the governing document. New trustees receive a clear induction covering their governance, safeguarding, and financial responsibilities.
Introduction
Stonebridge City farm was set up in the late 1970’s and officially opened in 1978, to provide a much-needed green space in a newly regenerated area of the city, St. Ann’s. Today the farm is a charity-run initiative. It is a free community resource - a slice of the countryside in the heart of the City of Nottingham. The Centre is open every day and provides a working farm environment for visitors across the East Midlands, whilst also providing the platform for developing people with a learning disability or a mental health challenge. The site is accessible to all and is popular with schools and colleges.
Page 2
Stonebridge City Farm
Trustees' Report
Objectives and activities
Objects and aims
The objects of the charity are:
• To advance training, education and social development and to provide facilities for social and occupational development, recreation and other leisure-time occupation in the interest of social welfare for the inhabitants of Nottingham, Greater Nottingham and surrounding area.
• To promote the benefit of the inhabitants of Greater Nottingham without distinction of gender or sexual orientation, age, race or of political, religious or other opinions, by associating the Local Authorities and/or Voluntary organisations and inhabitants in a common effect to advance training and education to provide facilities in the interest of social welfare for recreation and personal development with the object of improving conditions of life for those inhabitants and to contribute to the economic regeneration of the area of benefit particularly for those who have need of such facilities by reason of their disability, disadvantage in the labour market, youth, age, poverty or social and economic circumstances.
• Advance the training and education of said inhabitants using the media or agriculture, horticulture and related subjects and in principles of self-discipline and of good citizenship through their leisure-time activities so that they develop their social, economic, moral and spiritual capacities and grow to full maturity as individuals and members of society, and their conditions of life are improved.
• Promote among the inhabitants of the 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 that the immediate beneficiaries of the project and the public will have a greater awareness of and appreciation for living things.
• To provide education and training for people who have need of such facilities by reason of their disadvantage in the labour market, physical or learning disability or by reason of being a non-traditional learner or returner to learning so as to contribute to their appropriate progression towards employment or greater awareness of and appreciation for living things.
• To provide facilities for people with physical and learning disabilities, mental health problems or other high support needs to access high quality therapeutic activities and to provide these facilities following contemporary good practice with regard to the needs of said people.
As well as aiming to be a flagship community organisation, operating in one of the most deprived neighbourhoods of the UK, the farm focuses on achieving the following social outcomes:
• Improving health and well-being;
-
Increasing social inclusion;
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Increasing independence;
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Realising potential (and skills development).
Page 3
Stonebridge City Farm
Trustees' Report
Objectives, strategies and activities
Stonebridge City Farm exists to advance education, health, and social wellbeing, particularly for people facing disadvantage. We do this through the operation of an open-access city farm and community hub in St Ann’s, Nottingham, one of the most deprived neighbourhoods in England. Our main activities during the year were:
• Running an open-access city farm and community space, welcoming the public throughout the year and providing free or low-cost access to green space, animals, gardens, and informal learning opportunities.
• Delivering structured volunteering opportunities, supporting over 160 volunteers each week. Many volunteers experience mental ill health, neurodiversity, physical disability, social isolation, or other barriers to employment. Volunteers are supported to develop confidence, skills, routine, and progression.
• Providing educational activities for schools and colleges, including curriculum-linked farm visits, learning about animals, food, sustainability, and the natural environment. Over 1,200 school children attended structured learning visits during the year.
• Supporting mental health and wellbeing, through purposeful activity, social connection, outdoor work, and predictable routines. The farm provides a non-clinical, supportive environment that complements statutory services.
• Operating community-facing facilities, including a café and shop, which provide work experience, volunteering pathways, and an inclusive social space for the local community
• Working in partnership with local organisations, including schools, community groups, health services, and voluntary sector partners, to widen access and ensure activities reach those most likely to benefit.
Page 4
Stonebridge City Farm
Trustees' Report
Public benefit
These activities are delivered by a small paid staff team, supported by volunteers, with oversight from the trustees.
Our activities deliver clear public benefit in line with our charitable objects.
• Reducing social isolation and improving wellbeing
The farm provides a safe, welcoming environment where people can build relationships, feel valued, and participate at their own pace. For many visitors and volunteers, this is a first step out of isolation and towards improved mental health.
• Improving access to green space and nature
Free access to animals, gardens, and outdoor space benefits physical and mental health, particularly for people living in areas with limited access to safe green environments.
• Supporting people facing disadvantage
A significant proportion of our volunteers and service users experience mental ill health, disability, poverty, or long-term unemployment. Our activities are designed to be accessible, flexible, and supportive, enabling people to participate meaningfully regardless of background or ability.
• Educational benefit for children and young people
School visits and informal learning activities support understanding of food, farming, sustainability, and animal welfare. These experiences are particularly valuable for children from urban and deprived backgrounds who may have limited exposure to nature.
• Strengthening community cohesion
The farm acts as a shared community asset, bringing together people of different ages, backgrounds, and circumstances. This contributes to increased trust, connection, and a sense of belonging within the local area.
• Providing routes towards skills and employability
Volunteering and work experience help individuals develop practical skills, confidence, and routine. For some, this supports progression into training, education, or employment.
Trustees have had due regard to Charity Commission guidance on public benefit and are satisfied that the charity’s activities are carried out for the public benefit and in furtherance of its charitable purposes.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Page 5
Stonebridge City Farm
Trustees' Report
Achievements and performance
During the year ended 31 March 2025, Stonebridge City Farm continued to operate as an open-access city farm and community hub, delivering a wide range of activities focused on education, wellbeing, volunteering, and community connection.
We welcomed over 100,000 visitors to the farm across the year. Access to the site remained free, ensuring that cost was not a barrier to participation for local residents or visitors from further afield. Visitors were able to engage with animals, gardens, green space, and informal learning opportunities in a safe and welcoming environment.
Volunteering remained a core activity. We supported approximately 160 volunteers each week, contributing more than thirty-seven thousand volunteer hours across animal care, gardening, café and shop operations, site maintenance, events, and visitor welcome. Many volunteers experienced mental ill health, neurodiversity, physical disability, or social isolation. Staff provided day-to-day supervision, structure, and support, enabling volunteers to participate meaningfully, build confidence, and develop skills.
Educational delivery continued to expand. We hosted learning visits for over 1,200 school children from local schools, offering curriculum-linked sessions focused on animals, food, farming, and the natural environment. In addition, we provided placements and experience opportunities for college students, including those studying animal care and related subjects.
We operated the café and shop throughout the year, providing inclusive community spaces and supported work experience. These facilities enabled volunteers to develop practical and customer-facing skills while also generating unrestricted income to support the charity’s core activities.
The charity worked in partnership with a wide range of local organisations, schools, community groups, and voluntary sector partners. These partnerships helped us reach people experiencing disadvantage, including those affected by poverty, poor mental health, and social exclusion, and ensured that activities remained responsive to local need.
Alongside service delivery, the trustees and staff focused on organisational sustainability. This included diversifying income streams, securing grant funding, improving site infrastructure, and strengthening governance and operational systems to ensure the charity could continue to deliver its work in a challenging financial environment.
Overall, the charity maintained and strengthened its role as a trusted community asset, providing consistent, accessible support to individuals, families, and groups who benefit from connection to nature, purposeful activity, and community.
Page 6
Stonebridge City Farm
Trustees' Report
Financial review
For the year ended 31 March 2025, Stonebridge City Farm reported a net deficit of £77,802 (2024: -£65,923). Total income for the year was £512,763 (2024: £493,515), while total expenditure was £590,565 (2024: £559,438).
Total funds at the year-end stood at £146,331, a reduction from £224,133 at the start of the year. Of this balance, £146,331 was unrestricted and no restricted funds remained at year end, as all restricted grants received during the year were fully applied in accordance with funder requirements.
Cash balances reduced from £227,418 to £142,607, reflecting the operating deficit and continued use of reserves to support core activity.
The trustees recognise that the charity has now reported deficits for three consecutive years and that reserves have reduced materially. While the charity remains a going concern, this position is not sustainable in the medium term without changes to income generation and cost recovery. Trustees are actively addressing this position through financial planning, fundraising, and operational review.
Policy on reserves
The farm's reserves policy is to aim to hold reserves (i.e. backed by cash) which are sufficient to cover six months operating costs of approximately £295,283 (2024: £279,719). Cash reserves of £142,607 (2024: £227,418) is under this target, due to the deficit in the last 3 years and further income generation is needed to try to get back to a position where the reserves target is being met.
Principal risks and uncertainties
Financial Sustainability
The trustees recognise that Stonebridge City Farm faces material financial risk arising from a persistent structural imbalance between income and the true cost of delivery. The charity has reported operating deficits for three consecutive years, with reserves reducing from £290,056 in 2023 to £146,331 at 31 March 2025. Cash balances have reduced accordingly.
The principal financial risk is continued reliance on unrestricted reserves to subsidise core activity, driven by rising costs and insufficient unrestricted income. While grant income remains strong in absolute terms, much of it is restricted and does not contribute fully to overheads, management, and infrastructure required to operate a high-volume, people-intensive service.
Additional financial risks include:
Inflationary pressure on staffing, utilities, and site maintenance;
Short-term and project-based funding cycles that limit predictability;
Exposure to cash flow pressure where income is received in arrears;
Limited flexibility to reduce costs quickly without impacting delivery or safeguarding.
Trustees are clear that these risks cannot be managed through incremental adjustment alone.
Page 7
Stonebridge City Farm
Trustees' Report
Operational review and response
Operationally, the charity remains highly active, heavily utilised, and in strong demand. Visitor numbers, volunteer engagement, and partner activity remain high. However, this success has created its own risk: the organisation has been absorbing demand without full cost recovery, relying on goodwill, reserves, and staff resilience to sustain delivery.
The trustees judge that the charity is operationally stretched. The current model places sustained pressure on staff capacity, supervision, and infrastructure, particularly given the high support needs of many volunteers and service users. While the quality and impact of delivery remain strong, the margin for error has narrowed.
Trustees are explicit that continuing in this way is not acceptable. The organisation will not allow financial pressure to erode governance standards, staff wellbeing, safeguarding, or service quality.
Determination to act
The trustees have therefore agreed that change is required and are taking active steps to restore financial sustainability while protecting the charity’s core purpose. This includes:
A full review of the operating model, to ensure activity levels are aligned with realistic income and staffing capacity;
A strengthened focus on unrestricted and core funding, including multi-year support where possible;
Clearer cost attribution and pricing for services, partnerships, and activities;
Greater discipline around what the charity can and cannot subsidise;
Enhanced financial forecasting, scenario planning, and trustee oversight.
Trustees are committed to making difficult decisions where necessary. The objective is not simply survival, but to ensure that Stonebridge City Farm remains a credible, well-governed, and sustainable community asset over the long term.
Regulatory assurance
The trustees have considered these risks carefully and confirm that the charity continues to be a going concern. However, they do not underestimate the scale of the challenge. The current financial position is being actively managed, not deferred, and trustees will continue to review progress closely throughout the coming year.
Page 8
Stonebridge City Farm
Trustees' Report
Plans for future periods
Aims and key objectives for future periods
Over the coming year, Stonebridge City Farm will focus on stabilisation, sustainability, and purposeful impact, ensuring that the charity’s activities remain aligned with its charitable objects while operating within realistic financial and operational limits.
The trustees’ overriding objective is to secure the long-term viability of the farm as a free, inclusive community asset, without compromising governance, safeguarding, or staff wellbeing.
The charity’s key aims for the next reporting period are to:
Restore financial sustainability, reducing reliance on unrestricted reserves and returning the organisation towards a break even position;
Align activity levels with resources, ensuring that delivery is fully supported by staffing, infrastructure, and income;
Protect and strengthen core services, particularly volunteering, education, and wellbeing activity for people facing disadvantage;
Improve organisational resilience, through stronger financial planning, governance oversight, and income diversification.
Activities planned to achieve aims
To deliver these objectives, the trustees and senior management will:
Review and rebalance the operating model, including the scale and intensity of activity, to ensure that demand does not exceed funded capacity;
Strengthen unrestricted and core income, prioritising multi-year grants, donations, and partnerships that contribute to overheads and staff costs;
Develop clearer cost attribution, enabling the charity to price activities realistically and make informed decisions about what can be subsidised;
Focus trading activity on contribution, not volume, ensuring the café and shop support the charity’s mission without increasing financial risk;
Invest in volunteer support capacity, recognising that high-quality volunteering requires sustained supervision, safeguarding, and coordination;
Maintain the farm as a safe, accessible public space, with continued investment in essential site maintenance and infrastructure;
Deepen partnership working, particularly where this brings shared resources, co-funding, or reduced delivery burden.
Page 9
Stonebridge City Farm
Trustees' Report
Operating principles for the year ahead
The trustees have agreed a set of guiding principles for the next phase of the charity’s work:
The charity will not grow activity unless it is properly funded;
Quality, safety, and sustainability will be prioritised over volume;
Financial realism will guide decision-making, alongside commitment to social purpose;
Change will be planned, communicated, and governed.
Trustee oversight
Progress against these plans will be monitored through regular financial reporting, operational review, and trustee oversight. The trustees recognise that this is a period of transition and are committed to providing active governance, challenge, and support to ensure the charity emerges stronger and more resilient.
Statement of Responsibilities
The trustees (who are also the directors of Stonebridge City Farm 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". The report and accounts have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies.
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company 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 governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small companies provision statement
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
Page 10
Stonebridge City Farm
Trustees' Report
The annual report was approved by the trustees of the charity on 15 December 2025 and signed on its behalf by:
......................................... Lesley Lesley Vernon Vernon Trustee Trustee
Page 11
Stonebridge City Farm
Independent Examiner's Report to the trustees of Stonebridge City Farm ('the Company')
Independent examiner’s report to the trustees of Stonebridge City Farm ('the Company')
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2025.
Responsibilities and basis of report
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the 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 your charity’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 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 Chartered Institute of Public Finance and Accountancy (CIPFA), which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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.
...................................... Fes
......................................
Eva Stevens, BSc, CPFA, employee of Community Accounting Plus member of the Chartered Institute of Public Finance and Accountancy (CIPFA)
Units 1 & 2 North West 41 Talbot Street Nottingham NG1 5GL
15 December 2025
Page 12
Stonebridge City Farm
Statement of Financial Activities for the Year Ended 31 March 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income and Endowments from: Donations and legacies 2 Charitable activities 3 Investment income 5 Total Income Expenditure on: Charitable activities 6 Total Expenditure Net expenditure Transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 16 |
Unrestricted £ 177,621 230,869 353 408,843 (476,288) (476,288) (67,445) 5,618 (61,827) 208,158 146,331 |
Restricted £ - 103,920 - 103,920 (114,277) (114,277) (10,357) (5,618) (15,975) 15,975 - |
Total 2025 £ 177,621 334,789 353 512,763 (590,565) (590,565) (77,802) - (77,802) 224,133 146,331 |
Total 2024 £ 113,943 379,479 93 |
|---|---|---|---|---|
| 493,515 | ||||
| (559,438) | ||||
| (559,438) | ||||
| (65,923) - |
||||
| (65,923) 290,056 |
||||
| 224,133 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2025 is shown in note 16.
The notes on pages 17 to 26 form an integral part of these financial statements. Page 13
Stonebridge City Farm
Statement of Financial Activities for the Year Ended 31 March 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
These are the figures for the previous accounting period and are included for comparative purposes
| Note Income and Endowments from: Donations and legacies 2 Charitable activities 3 Investment income 5 Total income Expenditure on: Charitable activities 6 Total expenditure Net (expenditure)/income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 16 |
Unrestricted funds £ 113,943 218,774 93 332,810 (414,708) (414,708) (81,898) (81,898) 290,056 208,158 |
Restricted funds £ - 160,705 - 160,705 (144,730) (144,730) 15,975 15,975 - 15,975 |
Total 2024 £ 113,943 379,479 93 |
|---|---|---|---|
| 493,515 | |||
| (559,438) | |||
| (559,438) | |||
| (65,923) | |||
| (65,923) 290,056 |
|||
| 224,133 |
The notes on pages 17 to 26 form an integral part of these financial statements. Page 14
Stonebridge City Farm
(Registration number: 06509944) Balance Sheet as at 31 March 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible assets | 11 | 9,346 | 4,675 |
| Current assets | |||
| Stocks | 12 | 2,000 | 2,000 |
| Debtors | 10 | 3,839 | 1,374 |
| Cash at bank and in hand | 9 | 142,607 | 227,418 |
| 148,446 | 230,792 | ||
| Creditors: Amounts falling due within one year | 13 | (11,461) | (11,334) |
| Net current assets | 136,985 | 219,458 | |
| Net assets | 146,331 | 224,133 | |
| Funds of the charity: | |||
| Restricted income funds | |||
| Restricted funds | 16 | - | 15,975 |
| Unrestricted income funds | |||
| Unrestricted funds | 146,331 | 208,158 | |
| Total funds | 16 | 146,331 | 224,133 |
For the financial year ending 31 March 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The financial statements on pages 13 to 26 were approved by the trustees, and authorised for issue on 15 December 2025 and signed on their behalf by:
==> picture [105 x 26] intentionally omitted <==
----- Start of picture text -----
.........................................
Hel Helen Jeffries ies
Trustee Trustee
----- End of picture text -----
The notes on pages 17 to 26 form an integral part of these financial statements. Page 15
Stonebridge City Farm
Statement of Cash Flows for the Year Ended 31 March 2025
| Note Cash flows from operating activities Net cash expenditure Adjustments to cash flows from non-cash items Depreciation Investment income 5 Working capital adjustments (Increase)/decrease in debtors 10 Increase/(decrease) in creditors 13 Net cash flows from operating activities Cash flows from investing activities Interest receivable and similar income 5 Purchase of tangible fixed assets 11 Net cash flows from investing activities Net decrease in cash and cash equivalents Cash and cash equivalents at 1 April Cash and cash equivalents at 31 March Reconciliation of net cash flow to movement in net funds Decrease in cash Net funds at 1 April 2024 Net funds at 31 March 2025 |
2025 £ (77,802) 2,877 (353) (75,278) (2,465) 127 (77,616) 353 (7,548) (7,195) (84,811) 227,418 142,607 (84,811) 227,418 142,607 |
2024 £ (65,923) 1,298 (93) |
|---|---|---|
| (64,718) 3,370 (1,793) |
||
| (63,141) | ||
| 93 (5,480) |
||
| (5,387) | ||
| (68,528) 295,946 |
||
| 227,418 | ||
| (68,528) 295,946 |
||
| 227,418 |
All of the cash flows are derived from continuing operations during the above two periods.
The notes on pages 17 to 26 form an integral part of these financial statements. Page 16
Stonebridge City Farm
Notes to the Financial Statements for the Year Ended 31 March 2025
1 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparation
Stonebridge City Farm 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 notes.
Going concern
The financial statements have been prepared on a going concern basis.
The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date.
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Page 17
Stonebridge City Farm
Notes to the Financial Statements for the Year Ended 31 March 2025
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £500.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
| Asset class | Depreciation method and rate |
|---|---|
| Buildings | 6.67% on a straight line basis |
| Fixtures & fittings | 20.0% on a straight line basis |
| IT equipment | 33.3% on a straight line basis |
| General equipment | 10.0% 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 moving stocks. Cost is determined using the first-in, first-out (FIFO).
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
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Stonebridge City Farm
Notes to the Financial Statements for the Year Ended 31 March 2025
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.
Restricted income funds are those grants for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Pensions and other post retirement obligations
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further 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 recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
2 Income from donations and legacies
| Donations and legacies; Donations from companies, trusts and similar proceeds Donations from individuals Gift aid reclaimed Grants, including capital grants; Grants from other charities |
Unrestricted funds General £ 16,874 85,127 680 74,940 177,621 |
Total 2025 £ 16,874 85,127 680 74,940 177,621 |
Total 2024 £ 15,188 62,780 - 35,975 |
|---|---|---|---|
| 113,943 |
Page 19
Stonebridge City Farm
Notes to the Financial Statements for the Year Ended 31 March 2025
3 Income from charitable activities
| Activities contributions Grants & donations Room hire Sales & fees Sundry receipts |
Unrestricted funds General £ 6,451 - 3,456 220,962 - 230,869 |
Restricted funds £ - 103,920 - - - 103,920 |
Total 2025 £ 6,451 103,920 3,456 220,962 - 334,789 |
Total 2024 £ 3,675 160,705 2,690 212,101 308 |
|---|---|---|---|---|
| 379,479 |
4 Grants & donations
| 4 Grants & donations |
|||
|---|---|---|---|
| The Albert Gubay Charitable Foundation The National Lottery Community Fund Global Charities Garfield Weston Foundation The Jones 1986 Charitable Trust Forever Notts The Thomas Farr Charity The Forman Hardy Trust The Rotary Club of Trent Bridge Abellio East Midlands Limited - EMR The Thomas Edward Clarke Trust The Alison Hilman Charitable Trust NHS Nottingham & Nottinghamshire Talking Therapies Nottingham Mencap Masonic Charitable Foundation Corporate donations Gift Aid Sundry grants and donations |
Unrestricted funds £ - - - 33,000 25,000 5,000 3,000 2,000 2,000 1,875 - 1,000 1,000 240 200 15,000 680 87,626 177,621 |
Restricted funds £ 50,000 22,420 30,000 - - - - - - - 1,500 - - - - - - - 103,920 |
Total £ 50,000 22,420 30,000 33,000 25,000 5,000 3,000 2,000 2,000 1,875 1,500 1,000 1,000 240 200 15,000 680 87,626 |
| 281,541 |
Page 20
Stonebridge City Farm
Notes to the Financial Statements for the Year Ended 31 March 2025
5 Investment income
| Interest receivable and similar income; Interest receivable on bank deposits |
Unrestricted funds General £ 353 |
Total 2025 £ 353 |
Total 2024 £ 93 |
|---|---|---|---|
6 Expenditure on charitable activities
| Bank charges Barn costs Cleaning & hygiene Depreciation Equipment, repairs & renewals Events & activities Garden costs Insurance Legal & professional Marketing Payroll service Premises maintenance & security Printing & stationery Publications & subscriptions Recruitment Rent & rates Shop & cafe Staff expenses Staff training Sundry expenses Telephone, internet & postage Trustees' expenses Utilities Volunteer expenses Wages, NI & pension |
Unrestricted funds General £ 13,513 30,733 10,863 1,473 19,546 3,989 4,688 4,911 8,419 619 1,103 7,302 2,940 1,216 - 1,256 79,842 1,209 1,947 1,060 1,724 - 20,291 354 257,290 476,288 |
Restricted funds £ - - - 1,404 - 1,500 6,000 - - - - - - - - - 2,953 - - - - - - - 102,420 114,277 |
Total 2025 £ 13,513 30,733 10,863 2,877 19,546 5,489 10,688 4,911 8,419 619 1,103 7,302 2,940 1,216 - 1,256 82,795 1,209 1,947 1,060 1,724 - 20,291 354 359,710 590,565 |
Total 2024 £ 16,269 30,985 8,918 1,298 12,978 6,188 7,131 4,738 6,725 429 768 9,590 1,819 315 95 1,182 80,427 223 140 373 2,137 74 13,243 1,859 351,534 |
|---|---|---|---|---|
| 559,438 |
Page 21
Stonebridge City Farm
Notes to the Financial Statements for the Year Ended 31 March 2025
7 Net incoming/outgoing resources
Net outgoing resources for the year include:
| Depreciation of fixed assets 8 Staff costs The aggregate payroll costs were as follows: Staff costs during the year were: Wages and salaries Social security costs Pension costs |
2025 £ 2,877 2025 £ 334,117 20,736 4,857 359,710 |
2024 £ 1,298 |
|---|---|---|
| 2024 £ 326,930 18,980 5,624 |
||
| 351,534 |
The monthly average number of persons (including senior management team) employed by the charity during the year was as follows:
| Average number of employees | 2025 No 16 |
2024 No 16 |
|---|---|---|
11 (2024 - 12) of the above employees participated in the Defined Contribution Pension Schemes.
Contributions to the employee pension schemes for the year totalled £4,857 (2024 - £5,624).
No employee received emoluments of more than £60,000 during the year.
The total employee benefits of the key management personnel of the charity were £137,581 (2024 - £155,163).
The number of employees included in the above payments to key management personnel was 4 (2024: 4)
9 Cash and cash equivalents
| 9 Cash and cash equivalents |
||
|---|---|---|
| Cash on hand Cash at bank |
2025 £ 569 142,038 142,607 |
2024 £ 899 226,519 |
| 227,418 |
Page 22
Stonebridge City Farm
Notes to the Financial Statements for the Year Ended 31 March 2025
10 Debtors
| 10 Debtors | ||
|---|---|---|
| Prepayments Other debtors |
2025 £ 554 3,285 3,839 |
2024 £ 168 1,206 |
| 1,374 |
11 Tangible fixed assets
| Leasehold Land and buildings £ Fixtures & fittings £ Cost At 1 April 2024 155,055 13,130 Additions - 7,023 At 31 March 2025 155,055 20,153 Depreciation At 1 April 2024 155,055 8,635 Charge for the year - 2,612 At 31 March 2025 155,055 11,247 Net book value At 31 March 2025 - 8,906 At 31 March 2024 - 4,495 12 Stock Stocks 13 Creditors: amounts falling due within one year Trade creditors Other taxation and social security Other creditors |
IT equipment £ 25,017 525 |
General equipment £ 900 - |
Total £ 194,102 7,548 201,650 189,427 2,877 192,304 9,346 4,675 2024 £ 2,000 |
||
|---|---|---|---|---|---|
| 25,542 | 900 | ||||
| 25,017 175 |
720 90 |
||||
| 25,192 | 810 | ||||
| 350 | 90 | ||||
| - | 180 | ||||
| 2025 £ 2,000 2025 £ 372 8,265 2,824 11,461 |
|||||
| 2024 £ 374 8,276 2,684 |
|||||
| 11,334 |
Page 23
Stonebridge City Farm
Notes to the Financial Statements for the Year Ended 31 March 2025
14 Charity status
The charity is a company limited by guarantee and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
15 Commitments
Capital commitments
At 31 March 2021 the charity had non-cancellable commitments under an operating lease for Land & buildings. The annual rent is set at £817 and the lease runs until 2045.
The total amount contracted for but not provided in the financial statements was £16,340 (2024 - £17,157).
16 Funds
| 16 Funds | |||||
|---|---|---|---|---|---|
| Unrestricted funds General General Fund Designated Development fund Total unrestricted funds Restricted funds Café refurbishment (Morrisons) Woodland Trail (Starbucks Hubbub foundation) Global Charities Volunteers (Lottery) Salaries (Albert Gubay) Young people's activities (Thomas Edward Clarke) Total restricted funds Total funds |
Balance at 1 April 2024 £ 58,158 150,000 208,158 9,975 6,000 - - - - 15,975 224,133 |
Incoming resources £ 408,843 - 408,843 - - 30,000 22,420 50,000 1,500 103,920 512,763 |
Resources expended £ (476,288) - (476,288) (4,357) (6,000) (30,000) (22,420) (50,000) (1,500) (114,277) (590,565) |
Transfers £ 19,618 (14,000) 5,618 (5,618) - - - - - (5,618) - |
Balance at 31 March 2025 £ 10,331 136,000 |
| 146,331 | |||||
| - - - - - - |
|||||
| - | |||||
| 146,331 |
Page 24
Stonebridge City Farm
Notes to the Financial Statements for the Year Ended 31 March 2025
| Unrestricted funds General General Fund Designated Development fund Total unrestricted funds Restricted Café refurbishment (Morrisons) Woodland Trail (Starbucks Hubbub foundation) Global Charities Volunteers (Lottery) Salaries (Albert Gubay) Young people's activities (Thomas Edward Clarke) Total restricted funds Total funds |
Balance at 1 April 2023 £ 140,056 150,000 290,056 - - - - - - - 290,056 |
Incoming resources £ 332,810 - 332,810 9,975 6,000 35,000 41,240 67,490 1,000 160,705 493,515 |
Resources expended £ (414,708) - (414,708) - - (35,000) (41,240) (67,490) (1,000) (144,730) (559,438) |
Balance at 31 March 2024 £ 58,158 150,000 |
|---|---|---|---|---|
| 208,158 | ||||
| 9,975 6,000 - - - - |
||||
| 15,975 | ||||
| 224,133 |
The specific purposes for which the funds are to be applied are as follows:
This year we have the following restricted funds:
Morrisons supported the farm with funding for the café refurbishment, the income was received last year and the refurbishment has now taken place;
The Starbucks, Hubbub foundation funding was received last year to create a Woodland Trail and this has also been spent and the project completed;
The National Lottery Community Fund, funded the training of volunteers and costs of volunteers, the funding was received and fully spent in this year;
Funding received for Salaries from Ablert Gubay, has all now been spent;
The funding from Global Charities was for volunteer support and salaries;
The funding received from the Thomas Edward Clarke Charitable Trust was towards young people's activities.
The transfer from the Café equipment fund to the General fund represents the net book value of fixed assets, the use of which is not subject to any restriction.
The transfer from the designated Development fund to the General fund was necessary to help support core expenditure during a difficult financial period.
Page 25
Stonebridge City Farm
Notes to the Financial Statements for the Year Ended 31 March 2025
17 Related party transactions
There were no related party transactions in the year.
18 Fees payable to independent examiner
During the period, the fees payable (excluding VAT) to the charity’s independent examiner Community Accounting Plus are analysed as follows:
| Accounting Plus are analysed as follows: | ||
|---|---|---|
| Independent examination Other financial services |
2025 £ 1,575 180 1,755 |
2024 £ 1,515 - |
| 1,515 |
19 Taxation
The charity is a registered charity and is therefore exempt from corporation taxation.
20 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
21 Analysis of net assets between funds
Unrestricted
| Tangible fixed assets Current assets Current liabilities Total net assets |
General £ 9,346 12,446 (11,461) 10,331 |
Designated £ - 136,000 - 136,000 |
2025 Total funds £ 9,346 148,446 (11,461) |
|---|---|---|---|
| 146,331 |
Unrestricted
| Tangible fixed assets Current assets Current liabilities Total net assets |
General £ 4,675 64,817 (11,334) 58,158 |
Designated £ - 150,000 - 150,000 |
Restricted £ - 15,975 - 15,975 |
2024 Total funds £ 4,675 230,792 (11,334) |
|---|---|---|---|---|
| 224,133 |
Page 26