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;
- Increasing independence;
- 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:
- select suitable accounting policies and apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards, comprising FRS 102 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 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:
1. accounting records were not kept in respect of the 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.
## ...................................... 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:
- 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
- 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.
Page 18
## **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