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2026-02-28-accounts

COMPANY REGISTRATION NUMBER: 06820259 CHARITY REGISTRATION NUMBER: 1129544

Jamie's Farm

Company Limited by Guarantee

Financial Statements

28 February 2026

Jamie's Farm

Company Limited by Guarantee

Financial Statements

Year ended 28 February 2026

Page
Trustees' annual report (incorporating the director's report) 1
Independent auditor's report to the members 20
Statement of financial activities (including income and expenditure account) 23
Statement of financial position 24
Statement of cash flows 25
Accounting policies 26
Notes to the financial statements 29

Jamie's Farm

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Directors’ Report)

Year ended 28 February 2026

The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 28 February 2026.

Reference and administrative details
Registered charity name Jamie's Farm
Charity registration number 1129544
Company registration number 06820259
Principal office Hill House Farm
Ditteridge
Box
Corsham
SN13 8QA
Registered office Hill House Farm
Ditteridge
Box
Corsham
SN13 8QA
The Trustees S E Brennan
S E Parry
P C Percival
R M James Resigned 16 October 2025
R A Boomer-Clark
P A Clegg Resigned 22 April 2026
F Obiero
M Roper
Co-Chief Executive Officer & Co-Founder Jamie Feilden
Co-Chief Executive Officer Jake Curtis
Director of Therapeutic Education
& Co-Founder Tish Feilden
Auditor Godfrey Wilson Limited
Chartered accountants and statutory auditors
2ndFloor - South
One Castle Park
Tower Hill
Bristol
BS2 0JA
Bankers HSBC Bank plc
46 Fore Street
Trowbridge
Wiltshire
BA14 8EL

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Jamie's Farm

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Directors’ Report) (continued)

Year ended 28 February 2026

Structure, governance and management

Governing document

Jamie's Farm is a company limited by guarantee, incorporated on 16 February 2009 and registered as a charity on 12 May 2009. The affairs of the charitable company are governed by its Memorandum of Association, which established its objects and powers, and it is governed under its Articles of Association. Members of the charitable company guarantee to contribute an amount not exceeding £10 to the assets of the charitable company in the event of winding up.

Directors and Trustees

The directors of the company are its Trustees for the purposes of charity law and throughout this report are collectively referred to as the Trustees. The Trustees meet quarterly, manage the business of the charity and may exercise all the powers of the charity. The Trustees ensure that between them they have the necessary skills and experience to govern the charity.

Organisational structure and key personnel

The appointment or election of Trustees is as determined by the Board of Trustees. The Trustees have overall responsibility for the charity but the day to day running of the charity is delegated to the Co-Chief Executives, Jamie Feilden and Jake Curtis, and their staff. The Trustees are responsible for:

Overseeing the work of the Co-Chief Executives Agreeing the strategy for the development and growth of Jamie's Farm Ensuring that Jamie's Farm meets its legal responsibilities Ensuring sound financial management of Jamie's Farm

Induction and training policies for Trustees

New Trustees meet with the Co-Chief Executives and Chair to discuss their role and responsibilities. This gives an opportunity to answer any questions raised by the new Trustee and to clarify the content of any written documentation circulated to the new Trustee. Opportunities for training through the New Philanthropy Capital and Charities Information Bureau are communicated to Trustees. The Co-Chief Executives ensure Trustees are kept up to date with developments in Charity and Company law. This is achieved through briefings at Board meetings and, as appropriate, circulated written information.

Risk Management policy

The Trustees have examined the major strategic, business and operational risks that the Farm faces and are satisfied that systems are in place to mitigate these risks.

Financial Review

It has been another busy year for Jamie’s Farm with the launch of visits at Lower Shockerwick Farm and the continued development of the Skipton Farm. All farms were full for the entire year, leading to another increase in income from farm visits to £1,556,814 (2025: £1,350,642).

The major financial transaction in the year was the purchase for £3.99m of Allington Farm, Lewes, which was formerly leased. Some land was simultaneously sold for £280,000. The purchase was funded by a grant of £1.5m and a new long term loan of £2m, and some funds from our reserves.

Fundraising of unrestricted grants and donations was also very successful totalling £1,845,053 (2025: £1,279,121) with donations in excess of £100,000 received from The Peter Cundill Foundation and BNF Capital and the receipt of a legacy of £400,000.

The increased number of farm visits and associated activity across the farms, together with the impact of inflation on running costs, has resulted in an increase in farm activity, farm visits and support costs to £4,797,177 (2025: £4,105,301).

The Charity’s activities for the year including donations and legacies has resulted in an unrestricted surplus before fund transfers of £229,780 (2025: £787,794). The restricted surplus before fund transfers amounted to £2,630,033 (2025: £577,405).

The overall surplus for the year of £2,859,813 (2025: £1,365,199) and the funding with long term loans of the major capital expenditure resulted in net current assets of £896,273 (2025: £1,191,466).

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Jamie's Farm

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Directors’ Report) (continued)

Year ended 28 February 2026

Financial Review - continued

At the year end the charity has restricted funds of £2,167,216 (2025: £562,410) and unrestricted funds of £9,808,980 (2025: £8,553,973) of which £8,716,320 can only be realised on the disposal of fixed assets. The charity has unrestricted funds that are freely available for use at the year-end of £1,092,660 (2025: £1,306,120).

The total funds of the charity have increased to £11,976,196 (2025: £9,116,383).

Reserves Policy

Why we hold reserves

We feel it is prudent to hold a certain amount of reserves to ensure that Jamie’s Farm can deal with unexpected financial events that may hit the charity, without the risk of running out of cash or facing insolvency. It is important that the charity holds enough reserves to endure these events, while not holding too many reserves which could otherwise be spent on furthering the objectives of the charity.

What reserves can be used for

Our reserves are not intended to cover the day-to-day functioning of the charity, which should be funded within our general financial management and cash flow planning. Likewise, reserves are not for long term investments, such as capital projects. These will be saved for separately, in addition to our reserves, and will be designated as such within our accounts.

We hold reserves for two main reasons. Firstly, to help us manage large and unavoidable cash flow fluctuations during a year. These may be caused when a significant proportion of our income arrives late in the year, but our expenditure is fairly evenly spread throughout the year.

Secondly, our reserves are to ensure the charity can weather significant, unexpected events which may either entirely halt or significantly reduce our ability to operate. These events may prevent us from operating our programme or other revenue generating activities. They may also mean we cannot raise funds through fundraising.

In these two situations, we will use our reserves to continue the essential activities of the charity and ensure our long-term existence.

How we define our reserves

Our reserves are tracked on our balance sheet, which is updated every month when we produce our management accounts. They are defined as our ‘unrestricted funds’ , which are funds which are freely available to spend on any of the charity’s purposes.

From time to time, trustees may choose to ‘designate funds’, meaning they are set aside for a specific purpose, such as future expansion or capital development. Any funds which are ‘designated funds’ will not be counted towards our total reserves.

How we determine the amount of reserves we hold

The amount we hold in reserves is determined using our annual budget. We set our reserves at a level which would cover our essential running costs for a period of three months. We consider our essential running costs as those things we would have to do, even if we were not able to operate our programme during this period.

When considering what our essential costs are, we assume:

How this policy is developed

This policy has been developed by Jamie’s Farm’s management team and agreed with the Finance Trustee. It will be reviewed annually by the Finance Trustee and made available to other trustees.

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Jamie's Farm

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Directors’ Report) (continued)

Year ended 28 February 2026

Reserves Policy – continued

Based on these calculations for the 2025-26 financial year, we needed to hold £1,005,000 in reserves. As stated in the balance sheet in these accounts, on 28[th] February 2026 there was an unrestricted income fund (reserves) of £1,092,660, well within our reserves policy figure.

OBJECTIVES

Jamie’s Farm: A Catalyst for Change

Jamie’s Farm acts as a catalyst for change, enabling disadvantaged young people nationwide to thrive academically, socially and emotionally. Our mission is to cultivate lasting positive change for children through our evidence based, therapeutic programmes on working livestock farms, combining ‘purpose, belonging and reflection’ . We also aim to achieve our vision through spreading our approach and enabling systemic change within our partner schools and the education system more generally.

The young people we serve

We work with disadvantaged young people, two thirds of whom are referred by schools or colleges, due to significant disengagement with school life, poor attendance or attainment, serious mental health challenges, or behaviour that puts them at risk of exclusion. The other third come from a diverse range of groups, including Alternative Provisions, families at risk of breakdown, and young people experiencing displacement (often referred to as Unaccompanied Asylum Seeking Children.) These young people are often navigating complex circumstances both within and beyond the school environment.

Outcomes

As a charity, we recognise that we exist to serve our beneficiaries. We take seriously our responsibility to uphold high standards, ensuring we are doing what we say way we do. Our Theory of Change – refreshed in December 2024 in consultation with staff, trustees and our Youth Champions – provides us with clarity and focus, ensuring we avoid mission drift as we grow.

According to the CASEL framework of Social and Emotional Learning, the key outcomes that we measure to demonstrate we are enabling young people to thrive are:

Additionally, we monitor our effectiveness in:

We invest heavily in impact measurement processes, using cutting-edge platforms and comprehensive data gathering to illustrate the value of our approach and improve future outcomes by informing better decision making. By working with external experts in this area, we are able to ensure our evaluation is robust and trustworthy, and compare our outcomes with other similar organisations. Through our partnership with ImpactEd, we are able to capture longer-term outcomes as well as begin to evaluate the value of our model through control and comparison group analyses – which will begin to determine the ‘what if’ effect: what may have happened to a young person if they hadn’t had the opportunity to undertake our intervention.

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Jamie's Farm

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Directors’ Report) (continued)

Year ended 28 February 2026

ACTIVITIES

Purpose, Belonging and Reflection

Through the work on our Theory of Change, we were also able to reframe the ‘Farming, Family and Therapy’ concept into one that pulled on its core underlying principles, principles that could be transferred to other settings or other therapeutic vehicles. Consequently, we now refer to ‘Purpose, Belonging and Reflection’ as being the fundamental pillars on which our approach is based.

By doing this, it allows us to make the argument with greater clarity and potency that it is these ingredients that all young people need to thrive. We model this with skill and impact in our Day Visit and Residential Programmes on working farms – environments ideally placed to offer this combination.

However, we also believe these ingredients need to be in place much more meaningfully within school and wider society for young people to thrive, and we are developing coherent approaches for how we can influence the sector to enable this to happen much more consistently. These approaches have credibility thanks to the considerable impact we have achieved over many years for almost 20,000 young people, and we are clear that our efforts to influence the broader sector is only possible and meaningful if it is based on the example we set in our direct delivery.

Purpose

From feeding lambs or herding cows, to tending the garden and chopping wood, young people take part in real tasks and routines , where their contribution clearly matters. Purposeful activity fosters agency, motivation and resilience, helping young people reconnect with their own sense of agency and competence.

“Because we did the tasks so early and because they were so hard, it really teaches me to just push through. And I think I’ll take that back to home and school no matter what’s going on. I’ll push through, try my hardest, just study all I can but enjoy cause life’s too short not to.”

Young person, St Augustine’s, December 2025

Belonging

Many children arrive at Jamie’s Farm feeling isolated, unsure of themselves, or disconnected from school. We create a strong culture of empathy, connection and shared endeavour, celebrating young people for who they are and nurturing a sense of being valued and accepted. Living and working together strengthens peer relationships and builds community .

“Jamie’s Farm, it’s actually like a family. You can stay without your phone five days, because you got people and you can talk to them around you. We came together here.”

Young person, Brighton MET College

Reflection

We provide calm, technology-free space where young people can pause, think, and express themselves safely, individually or within group sessions which are woven through the week. Trained Therapeutic Coordinators on each farm communicate closely with your staff team. Reflective conversations, which we call “therapy on the hoof,” help children make sense of their experiences and consider meaningful changes they want to take back to school and home.

“Like it’s such a different perspective to life to what many people experience. It’s eye opening. I’m going home and I’m sat there thinking about what people have said to me.”

Young person, Hertfordshire Virtual School

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Jamie's Farm

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Directors’ Report) (continued)

Year ended 28 February 2026

ACTIVITIES - continued

Therapeutic Programmes

Thanks to the success – and considerable measured impact – of our Day Visit Programme run out of our London and Yorkshire centres, we now feel confident in regarding it alongside our core residential programme as a key offer of Jamie’s Farm as a charity. The Day Visit Programme enables us to serve our same target group of young people one day a week for six weeks, as opposed to the intensive, immersive residential. For some such young people, the evidence is suggesting this more ‘drip-feed’ approach is able to achieve greater impact.

Our Model

The core principles of Purpose, Belonging and Reflection are consistent throughout our residential and our Day Visit Programmes. As significantly, we embody a ‘relational model’ for engaging and inspiring young people. This is based on an approach which uses:

Legacy: Our Follow-up Programme and Long-term Impact

In order to ensure the changes last, visiting staff and young people are supported by our staff with the transition back into home and school life. Farm staff not only visit pupils before their residential to gain buy-in to the experience, but also six weeks after their residential stay and in the midst of the Day Visit Programme to ensure the momentum of the changes they have made is integrated and sustained.

The systemic change we seek to achieve is also designed to enable our core programmes to achieve longer-term impact. We recognise the importance of influencing the environment around the child, as well as the child themselves, if they are going to go on to thrive. In this way, we have designed programmes of support for our partner schools and the staff who accompany groups in order to contribute towards the relational model and purposeful tasks so core to what we do are provided within school settings.

Some of this vital follow-up support took place at our previous base in London, Oasis Farm Waterloo. Indeed, it was thanks to the investment we have made in the longer-term, non-residential therapeutic programmes developed at Waterloo, that we were able to pivot our model so effectively when Covid restrictions prevented our normal residential work from taking place at our rural farms. This London base has provided therapeutic experiences to thousands of children in the ten years of its inception; it also inspired our decision to launch our Skipton site with day visits ahead of the full redevelopment of that farm for residential work. Because of its success, trustees made the decision in October 2025 to continue partnering with Oasis with the next iteration of London farming – at a new base in Tulse Hill outside of Brixton, once the meanwhile site at Waterloo had to be given up for development.

Youth Champions and Apprentices

We have developed a committee of Youth Champions, representing varied qualities, demographics, and geographies of our young people. This group is involved in strategic decision-making and leads the development of specific initiatives. The Jamie’s Farm staff team also includes apprentices who have benefitted from the programme or faced life experiences; they bring diversity, skill and empathy, to their roles and to our broader teams. By the end of the 2025-26 financial year, we have apprentices at each of our residential farms across the country and within the HQ team, who are each offering highly effective service in our therapeutic, communications and delivery operations.

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Jamie's Farm

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Directors’ Report) (continued)

Year ended 28 February 2026

PUBLIC BENEFIT STATEMENT

The Trustees are aware of the Charity Commission guidance on public benefit and have taken the guidance into account in determining the objectives of Jamie’s Farm and its activities undertaken during the year.

Regenerative Education

The public benefits of Jamie’s Farm are closely related to our aims to enable young people facing challenges in their lives to thrive, in school and in their lives beyond. There are no restrictions on those children who can benefit, in terms of either fees to individuals, or geography. Jamie’s Farm is a national charity which functions on income from schools and other organisations, on other earned income such as livestock sales and renting our farmhouses, and on fundraising from trusts and foundations, corporates and members of the general public.

As noted above, pupil selection is undertaken by school staff with Jamie's Farm support. Research into the social demographic of our cohort is undertaken through data collected from the school. We use hard school data to measure impact against our key outcomes: before the visit; six weeks on; and six months on from the trip; as well as using longer-term case studies. In order to ensure that our evaluation is as robust as possible, we make use of the externally validated Shortened WarwickEdinburgh Wellbeing Survey; a measure that will also help us to compare our model against other similar charities, in order to learn from best practice in the broader sector. We have also incorporated the Delaware Social-Emotional Competency Framework, the Growth Mindset Scale and the CASEL framework into our impact measurement processes.

Our thorough evaluative framework gives us clear, honest and detailed feedback in terms of what the experience means for young people. It is weighted specifically in order to ensure that the voices of our children are heard the loudest in terms of what in our approach works for them, and what does not. By triangulating this ‘pupil voice’ with surveys from teacher and Farm staff as well as hard, quantifiable metrics from schools, we are able to closely assess which elements of the Jamie’s Farm Theory of Change seem to be making the most difference to our visiting young people. This allows us to replicate these features more regularly for specific cohorts of pupils, and increase our impact.

Regenerative Agriculture

The last year has seen a significant development in terms of how we regard the therapeutic vehicle through which we achieve our impact on young people: farming. We have long believed that farming had special advantages when it came to offering a beautiful rural environment and purposeful endeavour for our young people. Yet we are now prouder than ever that the way we farm has an important role to play, not just in terms of the direct effect on personal qualities and nature connectedness it has on the young people who help to keep our working farms operational, but also through their enhanced understanding of how food can be grown sustainably. Just as significantly, we are through our model exemplifying how productive and profitable beef and sheep farms across our 1000 acres can not only achieve social outcomes, but can simultaneously achieves long-term environmental outcomes, such as carbon sequestration and enhanced biodiversity; an example we aim to share with the broader sector as policy debates around food security and the environmental impact of farming are raging.

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Jamie's Farm

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Directors’ Report) (continued)

Year ended 28 February 2026

Risks

The public benefits of Jamie's Farm are balanced against risk of detriment and harm.

The Trustees have implemented a two-stage approach to the risk management strategy. This comprises an annual review of the principal risks and uncertainties that Jamie’s Farm faces in our January meeting, together with the risk mitigation plans that the Executive Team have put in place to minimise the likelihood of these risks occurring.

Principal Risks and Uncertainties:

• Financial:

As the charity grows, we recognise that there is a greater demand on our Fundraising function. If either an external or internal event occurs that limits the amount of money we will be able to raise in this way, our financial sustainability would be compromised. An additional challenge is the school funding position, which is a major risk to Jamie’s Farm. We are in the midst of planning a new significant growth in the capacity of the Farm in terms of the number of programmes available to be booked, which is occurring simultaneously as funding in the education sector at large has been curtailed. In order to mitigate these risks, we have:

 Managed finances effectively – especially through a robust control of costs. For the second time, one farm (Lewes) managed to achieve a ‘break-even’ position based on their operational revenue and their costs, with other farms not far behind. To help with this, we have continued to improve the accountability of our Finance function, especially through advances in the technology behind our finance systems. We know it is vital for leaders within the organisation to have up-to-date and accurate information about our financial picture, and it has been a big step forward that so much ‘live’ information is accessible to decision makers at the click of a button. Furthermore, by limiting the amount of manual data entry required, we believe we can make these processes more efficient and environmentally friendly, at the same time as improving their accuracy.

 Diversified our sources of income and increased the proportion of our revenue that is ‘earned’, as opposed to fundraised. Our income from house rental reached £324,922 in the 2025-26 financial year – our highest ever yield. This was achieved in part through the development of ‘luxury eco-pods’, the pilots of which were built at our Monmouth farm. Thanks to income provided by this source, we feel confident that every farm will be able to achieve what is in essence operational ‘break-even’ once they reach full maturity – which will significantly improve our long-term sustainability, diminishing our reliance on evergrowing fundraising targets.

 Improved our fundraising database in a way that will enable us to improve the regularity and effectiveness of our communications to our extensive and generous network of supporters. This has already led to a growth in the number of individual donors who are contributing towards our regular ‘matched fundraising campaigns’ – the ‘Big Give’ and ‘Champions for Children’. With careful ongoing communication, this growth in the underpinning ‘base’ of our fundraising pyramid will lead the charity to a sustainable longterm future. We are planning to increase the number of monthly donors by building a community of ‘Friends of Jamie’s Farm’ which will support this effort further.

 Focused on improving the reputation of the charity amongst Multi Academy Trusts and other bodies of schools, especially in target areas. As a result, we are pleased to report increased demand for our service from schools and other client organisations across the country. A particular source of good news in this area is the broadening demand for our intervention from Northern schools – which has enabled our expansion to a site in Yorkshire to proceed with high levels of utilisation for our Day Visit Programme from the very outset; this year, we were running at full capacity of five days a week.

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Jamie's Farm

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Directors’ Report) (continued)

Year ended 28 February 2026

Risks – continued

Executive Pay Policy

The Trustees consider the Co-CEOs and the Director of Therapeutic Education to represent the Executive Team of Jamie’s Farm.

Changes to senior staff salaries take place after annual Performance Management Reviews and are determined by the Remuneration Committee within the Board of Trustees, informed by benchmarking with other comparable charities.

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Jamie's Farm

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Directors’ Report) (continued)

Year ended 28 February 2026

ACHIEVEMENTS AND PERFORMANCE

Overview

2025-26 was highly successful in terms of charity finances: we were not only able to raise the funds to complete on the purchase of our Lewes farm, but were also simultaneously able to raise further capital funds to begin the vital subsequent development of the Lewes farm, and complete the development of the Lower Shockerwick farm. Such significant capital investments for a charity our size had to be managed with care, skill and dexterity, in order to ensure we delivered for the long-term good of the organisation, without putting our finances under undue strain.

Simultaneously, we needed to ensure our focus was not distracted from our core finances. This is why it is pleasing to report that our profit and loss on our core operation was significantly better than budget, with more revenue raised from our school programmes, our house let business and our farming operation, than ever before. Taken alongside careful cost control, we finished the year much stronger than we started, within our reserves policy despite a significant number of large outlays taking place.

Yet as a charity we know there is no point in us performing well financially if we are not achieving impact. Frankly, there is no point in our existing if we are not achieving impact. Therefore, we are most gratified that even as we have undertaken such significant expansion and strategic developments, the impact we have achieved in core programmes grew significantly in key areas last year. This happened at the same time as advances in our data collection rates and evaluation methods have made our impact measurement processes more robust.

This was achieved against a challenging backdrop, given the strain faced by young people across the country, and the strain faced by our partner schools, who are frequently being asked to do more with less. The role Jamie’s Farm is playing – as a charity addressing these issues on a nationally significant level – is growing by the year. Within the policy landscape, there is a burgeoning recognition of the mental health crisis faced by young people and the ‘generational problem’ of young people not being “work-ready” (and potential employers not being “ready” for them). While the government is suggesting broad principles of how the education system must adapt in order to address these challenges, there is frequently a lack of clarity about which approaches will really work.

Through the last year, Jamie’s Farm has demonstrated once again that our model – built on Purpose, Belonging and Reflection – does work. While we are piloting more systemic approaches for how we influence the sector so young people who do not even come to the farm get to benefit from our model, the last year has shown that this influencing work can never come at the cost of our relentless focus on our core model. We want to ‘walk the walk’ in terms of impact, not just ‘talk the talk’; during the course of the last year, evidence suggests we have been able to do so.

Impact

Given the long-term way we collect outcome measures, the end of the financial year in Spring 2026 coincides with the evaluation of our full set of data from the previous academic year (2024-25).

In these figures, we see some impressive outcomes being achieved by our therapeutic programme. The enhanced impact we are achieving has happened at the same time as we have supported more young people than ever before; during the course of the academic year, we served a record 2,395 young people.

Due to our faith in the importance of impact measurement within our work, we are pleased to report that our data collection rates significantly increased. Our six-month data, for instance, is based on a sample of 40% like-for-like data sets, which our external consultants regard as comparing extremely well to others in the sector. Consequently, each of the statistics reported below have passed a test of statistical significance, indicating the data is based on robust data of a sufficient quantity to indicate it is highly unlikely to have happened by chance.

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Jamie's Farm

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Directors’ Report) (continued)

Year ended 28 February 2026

ACHIEVEMENTS AND PERFORMANCE

Impact – continued

Improved behaviour

We take improved behaviour to mean an improvement in responsible decision-making and self-management, as reported by teachers at both six weeks and six months.

Improved relationships

We take improved behaviour to mean an improvement in social awareness and relationship skills, as reported by teachers at both six weeks and six months.

Improved wellbeing

We take improved wellbeing to mean an improvement in mental wellbeing, as reported by teachers at both six weeks and six months and through the SWEMWEBS survey.

Risk of exclusion

Attainment

Attendance

Other key outcomes

In addition to these core metrics, we have begun to evaluate other enabler outcomes towards our overall mission. This is due to our desire to understand more about the core ingredients as to how young people are enabled to thrive.

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Jamie's Farm

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Directors’ Report) (continued)

Year ended 28 February 2026

ACHIEVEMENTS AND PERFORMANCE

Other key outcomes - continued

Nature connectedness

One of these is nature connectedness, which we are evaluating further with our key partner the Ernest Cook Trust and their Outdoor Weeks of Learning programme. While it is early in the process of monitoring this in full, Jamie’s Farm’s programme is making a significant improvement on the Nature Connectedness of the young people – a 20% increase by the end of the week, which is sustained at the 15% level six weeks after the young people have returned home. There is growing external research as to the importance of nature connectedness contributing to overall wellbeing. Given our effectiveness in this strand, we are considering how we develop our programme to place greater emphasis on this – as per our new Theory of Change.

Spreading our Approach

Never an organisation to stand still, we also wanted to focus on those young people whose outcomes have not improved as a result of our intervention. In our previous year’s impact results, there was a demonstrable diminishing in outcomes between the six-week and six-month data point.

At the time, we hypothesised that the increasing pressures in school and the challenges our partner teachers faced in these environments significantly limited the amount of follow-up work they were able to lead. Simultaneously, teachers told us that they wished to receive more training in the relational approach we use on the farm – in part so they can better support the young people when they return home.

Consequently, in the course of the last year, we have integrated our indirect impact strand (how we support schools and teachers) much more effectively into our core programme, through three key initiatives in particular:

We also focused on ensuring our follow-up programme was robustly and consistently delivered.

While it is difficult to attribute sole responsibility to any of these single factors, this year our data has demonstrated that in almost all outcomes, our young people were doing better six months on than six weeks on from their programmes. Given we are so mindful of the importance of not being a ‘flash in the pan’ intervention, but something that makes a difference for the long-term, this was an especially pleasing result.

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Jamie's Farm

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Directors’ Report) (continued)

Year ended 28 February 2026

Strategic Plan, 2023-26

In November 2022, the Board of Trustees and extended Leadership Team undertook Strategic Away Days at the charity’s first home – Jamie’s Farm, Bath. Having delivered the vast majority of the milestones we set in our previous strategic review, we took the opportunity to refresh the objectives of coming years and develop a shared vision for the future of the charity.

Without wishing to reinvent a wheel that had served us well in the previous period, we decided to maintain the framework for our Strategic Plan that had three principal pillars: Foundations; Direct Impact and Indirect Impact. Key milestones for each pillar are listed below, together with the progress we have achieved.

I. Foundations

Our Foundations, including our Culture, Operational Excellence, Financial Resilience, Environments and People, were all notably strengthened throughout the period of our last Strategic Plan. As a result, we were able to weather the major challenges of the pandemic, adapting and sustaining both our Direct and Indirect Impact.

Our aim was “to ensure that the organisation is healthy, resilient, efficient and effective” to deliver our mission.

Key outcomes in this area we aimed for in the last year were:

  1. To develop an ambitious 10-Year Vision alongside a two-year Operational Plan – We have prioritised the Operational Plan in consultation with key stakeholders, supporters, young people and staff. This has been translated into a Compass Report with key metrics attached, providing the bedrock of our reporting to trustees. This has been cascaded throughout the organisation, which offers clarity of direction and appropriate autonomy to all levels of the organisation. Our longer-term vision reflects the same strategic pillars; we are now in the process of adding detail within this framework.

  2. To launch our pilot Luxury Eco Pods at our Monmouth Farm: “The Farmers’ Cabins” have been launched, and feedback so far has been almost universally positive. One guest wrote: “The views are stunningly spectacular, the cabin is beautifully designed and thoughtfully made. We had a lovely stay and couldn’t have wished for a more perfect place.” We are now working on a marketing approach in order to drive up their utilisation rate so that they bring in as much revenue to the charity as possible.

  3. To develop a set of ‘Farming Key Performance Indicators’, to complement the KPIs developed for our Programme, in order to improve focus, clarity and accountability in this strand: At a recent farmers’ away day, the farming team co-designed these ‘Farming KPIs’, which will be used regularly in regular check-ins with our Organisational Farming Lead.

II. Direct impact

During the pandemic we worked in new ways and with a broader range of partner organisations than ever before. We are keen to harness that experience to help us expand our direct impact whether through the numbers reached or the depth of difference we make to children and young people’s lives.

Our aim was “to ensure that we are doing everything in our power to maximise the impact from our direct work on vulnerable children and young people.”

Key outcomes in this area we aimed for in the last year were:

  1. To launch JF Bath: Lower Shockerwick for residentials in October 2025: This farm was launched on time and on budget, and since its launch we have got up to full capacity quicker than any previous occasion. This has meant it has supported more young people, and brought in considerably more programme income, than we were expecting.

  2. To begin the capital development works at Skipton in time for launch of residentials in October 2026: Unfortunately, due to the impact of planning delays, we will not hit our target to launch residentials in October 2026. However, building works are now taking place at pace, and we will be ready to launch in January 2027. In the meantime, the team we are developing at the Yorkshire farm is running a full suite of day visits five days a week.

- 13 -

Jamie's Farm

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Directors’ Report) (continued)

Year ended 28 February 2026

Strategic Plan, 2023-26

II. Direct impact - continued

  1. To integrate the Cultivating Change indirect impact strand of our work more meaningfully into our direct impact strand: As recognised in the Impact section above, we have made considerable progress with this objective, leading directly to meaningful contributions towards longer-term impact – especially noticeable at the six-month data point .

  2. To further the process of conducting an external evaluation using control groups: We have been able to enlist multiple partner schools in this endeavour, and will now be able to track young people for the longer-term, in comparison with similar young people who have not undertaken the JF therapeutic programme. We will therefore be able to report in coming years on the ‘protective effect’ we may have been able to achieve; in other words, what may have happened in key indicators had the intervention not taken place.

  3. To utilise our Youth Committee to understand how best to communicate with our ever-increasing community of alumni: We are in the midst of working with our committee of Youth Champions in order to consider how best to systematically stay in touch with our alumni, in a realistic and safeguarded way. Spearheading this initiative is the first alumnus who is now a permanent member of staff at Jamie’s Farm, Jack Carter, who joined the programme team at our newest farm at Lower Shockerwick. This was an important milestone for the charity, and we are delighted with the influence Jack is having in our residential programme there already.

III. Indirect impact

Whilst recognising that we are not a lobbying organisation and do not have the scale to deliver extensive Professional Development for teachers, we believed we have valuable learning and expertise to share. This could help teachers to thrive and better serve the needs of children and young people, whether they have the chance to visit our farms or not.

Our aim was “to empower teachers and education professionals to enable vulnerable children and young people to thrive.”

Key outcomes in this area we aimed for in the last year were:

  1. To fill as many residential programme slots with trainee teachers via partnerships with PGCE providers and school-based initial teacher training e.g. Teach First: As noted above, this approach to providing ‘Placements’ to colleagues within the education system has gone from strength to strength, and we are determined to grow this cost-effective and impactful way of influencing members of staff who will go on to play an important role for thousands of pupils in their careers.

  2. To deepen our partnerships with a selection of partner schools, including piloting a ‘Flagship School’ offer, a year-long programme of support built around the core residential: As noted above, these deeper partnerships are enabling us to achieve structural and cultural changes at a school-wide level, to ensure that pupils who haven’t even been to Jamie’s Farm are benefitting from the model we hold so dear, and which works so effectively to engage and motivate them.

  3. To work in partnership with other charities to develop a CPD offer for relational practice for those non-teaching staff in schools who are often an under-utilised resource. The Power-Up Pastoral programme has been effectively piloted in four regions across the country, and is set to be rolled out beyond in upcoming years. We are greatly benefitting from the opportunity to collaborate with other likeminded organisations to offer training in the relational approach we all utilise in our work.

- 14 -

Jamie's Farm

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Directors’ Report) (continued)

Year ended 28 February 2026

Trustees

Over the last year, our Board of Trustees has remained strong and stable. It is relatively small – consisting currently of six members – and benefits from the commitment and focus that this enables. It is diverse, with expertise from the worlds of education, mental health, private equity, farming, politics, commerce and architecture, and an array of life experiences.

In October 2025, we wished farewell to Roderick James, a founding trustee, who had provided 16 years of committed and expert service. A particular highlight of Roderick’s time on the Board was the tremendous investment of time he put in to offering strategic leadership to the growing house-let business, which is proving a vital source of funds for the charity. We are currently in the midst of searching for a replacement for Roderick, as well as further new trustees, given others have indicated they are coming to the end of their tenure.

In January 2026, Sarah Brennan came to the end of her three-year term as Chair, in which time the professionalism and rigour in our governance arrangements have improved significantly, thanks to Sarah’s leadership and experience. Replacing her is Philip Percival, who has begun his three-year term, having previously served as Finance Trustee. In this role, Philip is supported by Sian Parry, who serves as Deputy Chair and was previously the Head of Fidelity Foundations.

The Board continues to run a system of ‘sub-committees’ in areas such as Finance and Safeguarding, in order to improve the regularity of oversight and support it can provide. With these in place, we are confident that the Board will continue to offer the Executive Team the strategic guidance, robust accountability and wise counsel that has helped the charity in its development to date.

Leadership

The charity continues to be led by its Executive Team consisting of two Co-CEOs, Jamie Feilden and Jake Curtis, and the Director of Therapeutic Education, Tish Feilden. In order to ensure effective direction of the charity throughout all levels as we enter the next phase of growth, there has been a growing investment in the broader Leadership Team – which includes the Heads of Farm and Heads of Operational Functions.

With more regular and formalised Leadership Meetings, Strategic Reviews and Away Days in our annual calendar – in part thanks to the recommendations from a major piece of strategic consultancy – the effectiveness of the communication throughout the organisation has been improved and rapid decision-making has remained possible. Crucially, with these empowered and capable leaders in place, Jamie’s Farm is in a better position to scale even further, without compromising the quality of our provision or the sustaining energy that comes from our culture.

Fundraising

We are once again delighted to have exceeded our ambitious targets in fundraising, enabling us to deliver our transformative programme and other key elements of our strategic plan.

The year was exceptional for capital campaigns, principally in the purchase of our fourth residential farm, Jamie’s Farm Lewes. Having been offered the opportunity to buy the farm when our previous landlords, the Allington Trust, made the decision to sell, we had to move quickly. Fortunately, thanks to the exceptionally generous legacy donation of £1.5m made by our Lead Funders, The Fonthill Foundation, and a fixed low-interest loan of £2m from Esmée Fairbairn, we were able to raise the required funding without putting the long-term financial sustainability of the charity at risk.

Having been able to buy the farm, it was contingent on us to invest money into its capital redevelopment – to ensure it remained fit for purpose for the long-term. Consequently, we were able to raise a further £600,000 for first stage of works. This included significant grants from the Garfield Weston Foundation (£300,000); South Downs National Park: Farming in Protected Landscapes (£210,000 of which £19,958 was donated this financial year); The Swire Charitable Trust (£125,000) and the Bernard Sunley Foundation (£75,000). At the close of the financial year, the site is unrecognisable and significantly improved as a result of this support.

- 15 -

Jamie's Farm

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Directors’ Report) (continued)

Year ended 28 February 2026

Fundraising - continued

Alongside this bumper year of capital development, our core fundraising targets did not diminish. Charitable trusts and foundations continued to provide the bulk of our income throughout the year, alongside many individuals who supported us with generous gifts. Many of these have supported us for years and, in many cases, their multi-year, unrestricted commitments are hugely important as they help us to plan and deliver our programme and budgets with confidence. A growing number of individuals also supported us by leaving a gift in their will; the most significant of which was a transformative donation of £400,000 from the estate of long-term supporter Harry Reeves.

Our two matched funding appeals, Champions for Children and the Big Give Christmas Challenge, continue to help us engage new supporters and raise significant funds between them. We were delighted to once again significantly exceed the £125,000 targets for both of these campaigns, which would not have been possible without the matched funding generously provided by our individual supporters, The Childhood Trust and The Symondson Foundation.

We raised the most ever from corporates and are very grateful for the contributions of financial support, gifts in kind and employee volunteering that come with these partnerships.

Several events throughout the year bolstered our income and helped us engage employees from our corporate partners and other individuals. These included two Plumpton Race Days hosted by Brough Scott (the first postponed into this financial year due to inclement weather), as well as others such as Action Challenges, the Bath Half Marathon and CHX Challenges.

As Jamie’s Farm continues to expand to meet ever-greater needs, and so therefore do our fundraising targets, we are encouraged by the level of support we continue to receive. Our sincere thanks go to all those who supported our fundraising activity in whatever way throughout the year.

The future - Strategic Plan, 2026-28

We begin the 2026-27 Financial Year clear on delivering against the ongoing and ambitious initiatives laid out in our Strategic Plan. These are laid out in six ‘pillars’: two focused on ‘impact’; four on the operational foundations we must deliver to achieve them. The framework was devised on the back of the renewal of our Theory of Change – we now know clearly what we are here to do; our plan below lays out how we plan to do it. Below are the initiatives we are prioritising in each pillar.

The effort we made to set out a comprehensive roadmap for the period ahead will allow us to retain a coherence and focus on development projects and provide direction to our growing staff team. In the plan below, we worked out what we needed to do to best serve our beneficiaries and achieve our charitable mission; we will now raise and earn the money to do it; and then deliver. With this sequencing in mind, we avoided the risks of mission drift or chasing money to serve funders’ priorities.

We will also retain an agility and entrepreneurial culture that seeks to maximise the value of opportunities as they arise and that avoids any straight-jacketing that excessive planning can enforce. Consequently, we will keep a willingness to adapt– principally in response to needs indicated by our beneficiaries and our understanding of better ways we can serve them. There will be ‘curve balls’ thrown our way in coming years, but we look forward to meeting them with the confidence of knowing our foundations are strong.

- 16 -

Jamie's Farm

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Directors’ Report) (continued)

Year ended 28 February 2026

The future - Strategic Plan, 2023-26 - continued

1. Excellence in Programme Delivery through the consistent efficacy of our core programme

2. Developing sector-leading practitioners by rolling out a robust programme of internal CPD 3. Expanding our flagship school partnership offer

1. Launching residentials in Skipton

2. Establishing Lower Shockerwick as a fully utilised and effective farm

3. Relocating our London programme to our Brixton base

4. Developing the Power-up Pastoral CPD programme

5. Expanding and improving our ‘Placements’ offer

III. Strengthen Financial Resilience: Ensuring a secure, diverse & sustainable funding model that supports both LT growth & operational resilience

1. Broadening our base of support through the growth of regular giving

2. Growing key funding segments, such as through corporate support

3. Raising visibility through effective, consistent Comms & Marketing campaigns

4. Maintaining financial guardrails

5. Supporting expansion through effective business development

6. Maximising revenue from house-let business

IV. Invest in People and Culture: Enable a thriving and inclusive team geared for sustained excellence, and underpinned by trust and authenticity

1. Building clarity on prioritisation and ownership

2. Embedding a culture of meaningful feedback

3. Attracting diverse, quality staff, apprentices and volunteers

4. Launching HR Software

5. Building consistent and inclusive induction experience

1. Embedding regenerative farming practices

2. Maintaining and improving the farm environments

3. Nurturing the connection between food, farm and environment

4. Investing in renewable energy sources

1. Increasing 6-month data return

2. Strengthen evidence base of Day Visit Programme

3. Strengthen evaluation of control groups

4. Scaling participant feedback

5. Strengthening Youth Voice in decision making

- 17 -

Jamie's Farm

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Directors’ Report) (continued)

Year ended 28 February 2026

The future - Strategic Plan, 2023-26 - continued

In achieving these broader strategic outcomes, we continued to uphold the Relationships and Rigour that remain at the heart of our culture: we have high standards and high expectations for what our organisation and our young people can achieve, and we achieve them through the relationships we build with the children, their teachers, their parents and our broader network of supporters.

We recognise Jamie’s Farm as a charity has no right to exist; we exist to serve our beneficiaries and positively impact their lives. The performance of the charity in the last financial year, as well as our ambitions for the next, illustrate the drive and determination we have as trustees, leaders and our broader staff team, to perform that role.

Trustees' responsibilities statement

The trustees, who are also directors 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).

Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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

Members of the charity guarantee to contribute an amount not exceeding £10 to the assets of the charity in the event of winding up. The Trustees are members of the charity but this entitles them only to voting rights. The Trustees have no beneficial interest in the charity.

- 18 -

Jamie's Farm

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Directors’ Report) (continued)

Year ended 28 February 2026

Auditor

Each of the persons who is a trustee at the date of approval of this report confirms that:

The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

The trustees' annual report and the strategic report were approved on 5 August 2026 and signed on behalf of the board of trustees by:

Philip Percival

P C Percival Trustee

- 19 -

Jamie's Farm

Company Limited by Guarantee

Independent Auditor's Report to the Members of Jamie's Farm

Year ended 28 February 2026

Opinion

We have audited the financial statements of Jamie’s Farm (the 'charity') for the year ended 28 February 2026 which comprise the statement of financial activities, statement of financial position, statement of cash flows and the related notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The Trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

- 20 -

Jamie's Farm

Company Limited by Guarantee

Independent Auditor's Report to the Members of Jamie's Farm (continued)

Year ended 28 February 2026

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of the Trustees

As explained more fully in the Trustees’ responsibilities statement set out in the Trustees’ report, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The procedures we carried out and the extent to which they are capable of detecting irregularities, including fraud, are detailed below:

(1) We obtained an understanding of the legal and regulatory framework that the charity operates in, and assessed the risk of non-compliance with applicable laws and regulations. Throughout the audit, we remained alert to possible indications of noncompliance.

(2) We reviewed the charity’s policies and procedures in relation to:

- 21 -

Jamie's Farm

Company Limited by Guarantee

Independent Auditor's Report to the Members of Jamie's Farm (continued)

Year ended 28 February 2026

(5) We reviewed the financial statement disclosures and assessed their compliance with applicable laws and regulations.

(6) We performed analytical procedures to identify any unusual or unexpected transactions or balances that may indicate a risk of material fraud or error.

(7) We assessed the risk of fraud through management override of controls and carried out procedures to address this risk. Our procedures included:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. Irregularities that arise due to fraud can be even harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charityʼs members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charityʼs members those matters we are required to state to them in an auditorʼs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charityʼs members as a body, for our audit work, for this report, or for the opinions we have formed.

William Guy Blake

William Guy Blake ACA (Senior Statutory Auditor)

For and on behalf of:

GODFREY WILSON LIMITED Chartered accountants and statutory auditors 2nd Floor – South One Castle Park Tower Hill Bristol BS2 0JA

5 August 2026

- 22 -

Jamie's Farm

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 28 February 2026

2026 2025
Unrestricted Restricted
funds funds Total funds Total funds
Note £ £ £ £
Income and endowments
Donations and legacies 4 1,845,053 3,496,899 5,341,952 3,049,657
Charitable activities 5 1,825,885 296,360 2,122,245 1,870,465
Other trading activities 6 342,917 – 342,917 267,861
Investment income 7 30,443 – 30,443 63,616
Other income 8 248,166 – 248,166 625,026
─────────── ─────────── ─────────── ───────────
Total income 4,292,464 3,793,259 8,085,723 5,876,625
═══════════ ═══════════ ═══════════ ═══════════
Expenditure
Expenditure on raising funds:
Costs of other trading activities 9 416,976 11,757 428,733 406,125
Expenditure on charitable activities 10 3,645,708 1,151,469 4,797,177 4,105,301
─────────── ─────────── ─────────── ───────────
Total expenditure 4,062,684 1,163,226 5,225,910 4,511,426
═══════════ ═══════════ ═══════════ ═══════════
─────────── ─────────── ─────────── ───────────
Net income 229,780 2,630,033 2,859,813 1,365,199
═══════════ ═══════════ ═══════════ ═══════════
Transfers between funds 1,025,227 (1,025,227) – –
─────────── ─────────── ─────────── ───────────
Net movement in funds 1,255,007 1,604,806 2,859,813 1,365,199
Reconciliation of funds
Total funds brought forward 8,553,973 562,410 9,116,383 7,751,184
─────────── ─────────── ──────────── ───────────
Total funds carried forward 9,808,980
═══════════		 2,167,216
═══════════		 11,976,196
════════════		 9,116,383
═══════════

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 26 to 43 form part of these financial statements.

- 23 -

Jamie's Farm

Company Limited by Guarantee

Statement of Financial Position

28 February 2026

2026 2025
Note £ £ £
Fixed assets
Intangible assets 17 46,119 55,340
Tangible fixed assets 18 17,409,274 12,363,884
──────────── ────────────
17,455,393 12,419,224
Current assets
Stocks 19 395,986 295,515
Debtors 20 508,252 483,491
Investments 21 672,326 1,360,751
Cash at bank and in hand 597,589 239,975
─────────── ───────────
2,174,153 2,379,732
Creditors: amounts falling due within one year 22 1,277,880 1,188,266
─────────── ───────────
Net current assets 896,273 1,191,466
──────────── ────────────
Total assets less current liabilities 18,351,666 13,610,690
Creditors: amounts falling due after more than one year 23 6,375,470 4,494,307
──────────── ────────────
Net assets 11,976,196 9,116,383
════════════ ════════════
Funds of the charity
Restricted funds 2,167,216 562,410
Unrestricted funds
Capital asset fund 8,716,320 7,247,853
Unrestricted income fund 1,092,660 1,306,120
──────────── ───────────
Total charity funds 26 11,976,196
════════════		 9,116,383
═══════════

These financial statements were approved by the board of trustees and authorised for issue on 5 August 2026, and are signed on behalf of the board by:

Philip Percival

P C Percival Trustee

The notes on pages 26 to 43 form part of these financial statements.

- 24 -

Jamie's Farm

Company Limited by Guarantee

Statement of Cash Flows

Year ended 28 February 2026

Year ended 28 February 2026
2026 2024
£ £
Cash flows from operating activities
Net income 2,859,813 1,365,199
Adjustments for:
Depreciation of tangible fixed assets 578,129 388,227
Amortisation of intangible assets 9,221 9,213
Other interest receivable and similar income (30,443) (63,616)
Gains on disposal of tangible fixed assets (248,166) (625,026)
Changes in:
Stocks (100,471) (36,114)
Trade and other debtors (24,761) 52,824
Trade and other creditors (108,119) 93,725
─────────── ───────────
Cash generated from operations 2,935,203 1,184,432
Interest received 30,443 63,616
─────────── ───────────
Net cash from operating activities 2,965,646 1,248,048
═══════════ ═══════════
Cash flows from investing activities
Purchase of tangible assets (5,912,937) (1,805,476)
Proceeds from sale of tangible assets 537,584 1,272,828
─────────── ───────────
Net cash used in investing activities (5,375,353) (532,648)
═══════════ ═══════════
Cash flows from financing activities
Proceeds from borrowings 2,750,000 -
Repayment of borrowings (671,104) (663,618)
─────────── ───────────
Net cash (used in)/from financing activities 2,078,896 (663,618)
═══════════ ═══════════
Net increase in cash and cash equivalents (330,811) 51,782
Cash and cash equivalents at beginning of year 1,600,726 1,548,944
─────────── ─────────
Cash and cash equivalents at end of year 1,269,915
═══════════		 1,600,726
═════════

The analysis of net debt is provided in note 28.

The notes on pages 26 to 43 form part of these financial statements.

- 25 -

Jamie's Farm

Company Limited by Guarantee

Accounting Policies

Year ended 28 February 2026

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity and the figures are rounded to the nearest £1.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The following judgements have been made in the process of applying this accounting policy that have had the most significant effect on amounts recognised in the financial statements:

Stock is valued at deemed cost by estimating the market value of livestock based upon average market livestock reports and recently realised values on sale of stock near to the year end and applying the percentages published in HM Revenue & Customs helpsheet HS232 Farm Stock Valuation (2022) to reduce to deemed cost. Recognising purchased animals at deemed cost is not always appropriate. This estimate impacts on the costs of Farming Activities.

The main depreciation charge is that on purchased and constructed freehold buildings. The charge commences when the property is available for use and is depreciated over a 50 years period reflecting the ongoing use of the asset. The exception to this is the cost of a Biomass boiler which was considered to have a shorter economic life of 25 years. This estimate impacts on the costs of Farm Visits.

Income

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. The following specific policies are applied to particular categories of income:

Voluntary income is received by way of donations, gifts and fundraising activities and is recognised on a receivable basis.

Farm visit income is recognised once the visit has taken place. Any deposits received in advance are carried forward and held as deferred income until the visit has taken place.

Farm income is recognised on a receivable basis.

Income from external lettings is recognised in the period to which the letting relates.

Donated facilities and services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure.

Fixed asset gifts in kind are recognised when receivable and are included at fair value. They are not deferred over the life of the asset.

No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees' Annual Report.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Government grants received in the year have been Rural Payments Agency grants of £269,023 (2025 £238,693).

- 26 -

Jamie's Farm

Company Limited by Guarantee

Accounting Policies (continued)

Year ended 28 February 2026

Debtors

Trade and other debtors with no stated interest rate and due within one year are recorded at the amount of the cash or other consideration expected to be received. Prepayments are valued at the amount paid.

Current investments, cash at bank and in hand

Investments are cash deposits with a maturity of three months or more from the date of opening the deposit. Cash at bank and in hand is all other cash and cash deposits.

Fund accounting

Unrestricted (General) funds represent the funds of the charity that are not subject to any restrictions regarding their use and are available for application to the general purposes of the charity.

Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside for a specific purpose.

Restricted funds are those monies given to the charity for specific purposes and can only be applied in respect of those purposes.

Expenditure

Expenditure is recognised on an accruals basis and includes any non recoverable VAT. The following specific policies are applied to particular categories of expenditure:

Expenditure on raising funds comprise the costs associated with attracting voluntary income and the costs of fundraising activities.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. The costs of financing the charity's loans are treated as support costs as it would not be meaningful to allocate them between the two categories of charitable activity. Other support costs are allocated between fundraising and charitable activities in proportion to the relative staff costs.

Governance costs are those costs associated with the constitutional and statutory requirements of the charity.

Liabilities

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Fixed assets

Tangible assets costing more than £3,000 are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Freehold Buildings - 2% straight line and 4% straight line Leasehold improvements - 10% straight line or over the life of the lease Freehold Improvements - 2 - 10% straight line Farm machinery and vehicles - 25% reducing balance Fixtures, fittings and office equipment - 33.3% straight line and 25% reducing balance

There is no depreciation on Freehold land.

- 27 -

Jamie's Farm

Company Limited by Guarantee

Accounting Policies (continued)

Year ended 28 February 2026

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Operating lease agreements

Rentals applicable to operating leases where substantially all the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Going concern

Trustees are of the opinion that there is no reason to believe that the charity will have to cease operating as a result of inadequate financial resources, or any other foreseeable event, within a period of at least 12 months from the date of approval of these accounts.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Software

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Stocks

Stock are farm animals which are valued at deemed cost by estimating the market value of livestock based upon average market livestock reports and recently realised values on sale of stock near to the year end and applying the percentages published in HM Revenue & Customs helpsheet HS232 Farm Stock Valuation (2022) to reduce to deemed cost.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

- 28 -

Jamie's Farm

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 28 February 2026

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Hill House Farm, Ditteridge, Box, Corsham, SN13 8QA.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Limited by guarantee

The company is limited by guarantee and does not have a share capital. In accordance with the Memorandum of Association all members undertake to contribute to the assets of the charitable company such an amount as may be required, not exceeding £10 each, in the event of the company being wound up during the period of membership and within one year afterwards.

- 29 -

Jamie's Farm

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 28 February 2026

4. Donations and legacies

Donations and legacies
Unrestricted Restricted Total Funds
Funds Funds 2026
Current year £ £ £
Grants
Anonymous 150,000 - 150,000
The Peter Cundill Foundation 120,000 - 120,000
The Vardy Foundation 50,000 - 50,000
The Roper Family Charitable Trust 50,000 - 50,000
The Betty Lawes Foundation 50,000 - 50,000
Bleu Blanc Rouge Foundation 50,000 - 50,000
Andrew Summers 44,000 - 44,000
Other grants less than £35,000 66,771 - 66,771
Donations
BNF Capital 250,000 - 250,000
Anonymous 75,000 - 75,000
Other donations less than £35,000 539,282 - 539,282
Restricted grants funding revenue costs
The Fidelity UK Foundation - 118,026 118,026
The Westminster Foundation - 89,500 89,500
Esmée Fairbairn Foundation - 83,334 83,334
The Gerald Leigh Charitable Trust - 75,678 75,678
Champions for Children Campaign - 72,810 72,810
The Big Give Christmas Challenge Campaign - 62,695 62,695
John Lyon’s Charity - 45,410 45,410
The Rayne Foundation - 40,000 40,000
ADM Cares - 35,891 35,891
Anonymous - 35,000 35,000
The Dulverton Trust - 35,000 35,000
Other grants less than £35,000 - 234,384 234,384
Restricted grants funding capital costs
The Fonthill Foundation - 1,500,000 1,500,000
Garfield Weston Foundation - 300,000 300,000
The Cotswolds Conservation Board - 250,000 250,000
The Swire Charitable Trust - 125,000 125,000
Rural Payments Agency - 107,945 107,945
Bernard Sunley Foundation - 75,000 75,000
Anonymous - 70,001 70,001
The Ernest Kleinwort Charitable Trust - 50,000 50,000
Other grants less than £35,000 - 91,225 91,225
Legacies
Legacy from the Estate of the late Harry Reeves 400,000 - 400,000
───────── ───────── ─────────
1,845,053 3,496,899 5,341,952
═════════ ═════════ ═════════

- 30 -

Jamie's Farm

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 28 February 2026

4. Donations and legacies ( continued )

Donations and legacies(continued)
Unrestricted Restricted Total Funds
Funds Funds 2025
Prior year £ £ £
Grants
The Crucible Foundation 200,000 - 200,000
The Peter Cundill Foundation 119,990 - 119,990
Anonymous 60,000 - 60,000
The Roper Family Charitable Trust 50,000 - 50,000
The Betty Lawes Foundation 50,000 - 50,000
The David Cock Foundation 50,000 - 50,000
Andrew Summers 44,000 - 44,000
Anonymous 25,000 - 25,000
The Henry Oldfield Trust 25,000 - 25,000
Anonymous 25,000 - 25,000
Other grants less than £25,000 141,950 - 141,950
Donations
BNF Capital 250,000 - 250,000
Other donations less than £25,000 238,181 - 238,181
Restricted grants funding revenue costs
The Fidelity UK Foundation - 225,879 225,879
Champions for Children Campaign - 63,470 63,470
The Big Give Christmas Challenge Campaign - 56,835 56,835
The Childhood Trust - 56,250 56,250
The Social Business Trust - 50,000 50,000
ADM Cares - 47,444 47,444
John Lyon’s Charity - 45,410 45,410
The Gerald Leigh Charitable Trust - 40,000 40,000
The Rayne Foundation - 40,000 40,000
Anonymous - 35,000 35,000
The Dulverton Trust - 35,000 35,000
The Progress Foundation - 25,222 25,222
Anonymous - 25,000 25,000
The Ernest Kleinwort Charitable Trust - 25,000 25,000
The Innholders’ Charitable Foundation - 25,000 25,000
Other grants less than £25,000 - 205,743 205,743
Restricted grants funding capital costs
Anonymous - 185,018 185,018
The Clothworkers’ Foundation - 100,000 100,000
Anne Duchess of Westminster Foundation - 100,000 100,000
The Wolfson Foundation - 90,000 90,000
Rural Payments Agency - 81,207 81,207
Sarah Jane Leigh Charitable Trust - 80,000 80,000
Andrew Summers - 80,000 80,000
Other grants less than £25,000 - 53,058 53,058
───────── ───────── ─────────
1,279,121 1,770,536 3,049,657
═════════ ═════════ ═════════

- 31 -

Jamie's Farm

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 28 February 2026

5. Charitable activities

Charitable activities
Unrestricted Restricted Total Funds
Funds Funds 2026
Current year £ £ £
Income from Farm visits 1,260,454 296,360 1,556,814
Livestock sales 411,265 – 411,265
Other farm income (inc subsidies and farm rentals) 154,166 – 154,166
─────────── ───────── ───────────
1,825,885 296,360 2,122,245
═══════════ ═════════ ═══════════
Unrestricted Restricted Total Funds
Funds Funds 2025
Prior year £ £ £
Income from Farm visits 1,129,917 220,725 1,350,642
Livestock sales 308,727 – 308,727
Other farm income (inc subsidies and farm rentals) 211,096 – 211,096
─────────── ───────── ───────────
1,649,740
═══════════		 220,725
═════════		 1,870,465
═══════════

Individual grants exceeding £35,000 included in restricted income from Farm visits are:

The Ernest Cook Trust £121,900 (2025 - £98,000) Yorkshire Dales National Park £51,546

6. Other trading activities

6. Other trading activities
Unrestricted Total Funds Unrestricted Total Funds
Funds 2026 Funds 2025
£ £ £ £
Letting income 324,922 324,922 246,942 246,942
Corporate events 13,476 13,476 18,679 18,679
Other income 4,519 4,519 2,240 2,240
───────── ───────── ───────── ─────────
342,917 342,917 267,861 267,861
═════════ ═════════ ═════════ ═════════
7. Investment income
Unrestricted Total Funds Unrestricted Total Funds
Funds 2026 Funds 2025
£ £ £ £
Bank interest receivable 30,443 30,443 63,616 63,616
═══════ ═══════ ═══════ ═══════
8. Other income
Unrestricted Total Funds Unrestricted Total Funds
Funds 2026 Funds 2025
£ £ £ £
Gain on disposal of tangible fixed assets held
for charity's own use 248,166 248,166 625,026 625,026
═════════ ═════════ ═════════ ═════════

- 32 -

Jamie's Farm

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 28 February 2026

9. Costs of other trading activities

Unrestricted Restricted Total Funds
Funds Funds 2026
Current year £ £ £
Fundraising 250,618 – 250,618
Marketing 66,128 – 66,128
Lettings 66,443 11,757 78,200
Support costs 33,787 – 33,787
───────── ─────── ─────────
416,976 11,757 428,733
═════════ ═══════ ═════════
Unrestricted Restricted Total Funds
Funds Funds 2025
Prior year £ £ £
Fundraising 232,772 – 232,772
Marketing 55,733 23,107 78,840
Lettings 57,736 6,036 63,772
Support costs 30,741 – 30,741
───────── ─────── ─────────
376,982 29,143 406,125
═════════ ═══════ ═════════
Expenditure on charitable activities by fund type
Unrestricted Restricted Total Funds
Funds Funds 2026
Current year £ £ £
Farming Activities 657,529 53,929 711,458
Farm Visits 2,386,539 1,056,004 3,442,543
Support costs 601,640 41,536 643,176
─────────── ─────────── ───────────
3,645,708 1,151,469 4,797,177
═══════════ ═══════════ ═══════════
Unrestricted Restricted Total Funds
Funds Funds 2025
Prior year £ £ £
Farming Activities 605,940 56,757 662,697
Farm Visits 1,605,871 1,266,579 2,872,450
Support costs 508,777 61,377 570,154
─────────── ─────────── ───────────
2,720,588 1,384,713 4,105,301
═══════════ ═══════════ ═══════════
Analysis of support costs
Total 2026 Total 2025
£ £
Staff costs 80,824 73,959
Legal, professional and accountancy 55,386 44,105
Office running costs 103,682 73,420
Staff welfare, recruitment and other costs 46,578 46,133
Non recoverable VAT 64,979 62,766
Finance costs including loan interest 307,564 288,262
Governance costs 17,950 12,250
───────── ─────────
676,963 600,895
═════════ ═════════

10. Expenditure on charitable activities by fund type

11. Analysis of support costs

- 33 -

Jamie's Farm

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 28 February 2026

12. Net income

Net income is stated after charging/(crediting):

Net income is stated after charging/(crediting):
2026 2025
£ £
Amortisation of intangible assets 9,221 9,213
Depreciation of tangible fixed assets 578,129 388,227
Gains on disposal of tangible fixed assets (248,166)
═════════		 (625,026)
═════════

13. Auditors remuneration

2026 2025
£ £
Fees payable for the audit of the financial statements 13,000
═══════		 12,250
═══════

14. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

2026 2025
£ £
Wages and salaries 2,232,235 1,887,424
Social security costs 253,619 174,657
Employer contributions to pension plans 111,040 93,564
─────────── ───────────
2,596,894
═══════════		 2,155,645
═══════════

The average head count of employees during the year was 69 (2025: 61). The average number of full-time equivalent employees during the year is analysed as follows:


employees during the year is analysed as follows:
2026 2025
No. No.
Farm activities and visits 58 51
════ ════
The number of employees whose remuneration for the year fell within the following bands, were:
2026 2025
No. No.
£60,000 to £69,999 1 –
£90,000 to £99,999 2 2
──── ────
3 2
════ ════

The number of employees whose remuneration for the year fell within the following bands, were:

The key management personnel of the charity comprise the two Co-Chief Executive Officers and the Director of Therapeutic Education. Their combined employee benefits total £288,874 (2025: £265,340).

15. Trustee remuneration and expenses

One trustee was reimbursed £56 of travel expenses from the charity (2025: £109). No trustee received any remuneration from the charity (2025: Nil).

16. Transfers between funds

The funds transferred represent the net book value of fixed assets which were funded by grants or donations where the terms of the restriction have now been met and in future the asset can be used on an unrestricted basis for any charitable purpose. The value of these assets, net of any loan balance outstanding, has been placed in the designated Capital Assets fund.

- 34 -

Jamie's Farm

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 28 February 2026

17. Intangible assets

Intangible assets
CRM system
£
Cost
At 1 March 2025 and 28 February 2026 92,157
═══════
Amortisation
At 1 March 2025 36,817
Charge for the year 9,221
───────
At 28 February 2026 46,038
═══════
Carrying amount
At 28 February 2026 46,119
═══════
At 28 February 2025 55,340
═══════

18. Tangible fixed assets

18. Tangible fixed assets
Fixtures,
Freehold and fittings and Farm
Freehold land leasehold office machinery and
and buildings improvements equipment vehicles Total
£ £ £ £ £
Cost
At 1 March 2025 10,359,028 3,293,780 67,694 982,077 14,702,579
Additions 4,565,295 1,288,205 – 59,437 5,912,937
Disposals (296,500)
(5,513)		 – (17,200) (319,213)
──────────── ─────────── ─────── ─────────── ────────────
At 28 February 2026 14,627,823 4,576,472 67,694 1,024,314 20,296,303
════════════ ═══════════ ═══════ ═══════════ ════════════
Depreciation
At 1 March 2025 1,243,299 425,664 56,390 613,342 2,338,695
Charge for the year 192,884 282,623 2,826 99,796 578,129
Disposals (16,212)
(459)		 – (13,124) (29,795)
──────────── ─────────── ─────── ─────────── ────────────
At 28 February 2026 1,419,971 707,828 59,216 700,014 2,887,029
════════════ ═══════════ ═══════ ═══════════ ════════════
Carrying amount
At 28 February 2026 13,207,852 3,868,644 8,478 324,300 17,409,274
════════════ ═══════════ ═══════ ═══════════ ════════════
At 28 February 2025 9,115,729 2,868,116 11,304 368,735 12,363,884
════════════ ═══════════ ═══════ ═══════════ ════════════
19. Stocks
2026 2025
£ £
Farm animals 395,986 295,515
═════════ ═════════
20. Debtors
2026 2025
£ £
Trade debtors 202,464 250,313
Prepayments and accrued income 55,922 44,379
Other debtors 249,866 188,799
───────── ─────────
508,252 483,491
═════════ ═════════

- 35 -

Jamie's Farm

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 28 February 2026

21. Investments

Investments
2026 2025
£ £
Cash deposits 672,326 1,360,751
═════════ ═══════════
Creditors: amounts falling due within one year
2026 2025
£ £
Bank loans 163,747 48,738
Other loans 262,724 180,000
Trade creditors 111,214 336,420
Deferred income 409,688 409,429
Social security and other taxes 76,426 59,282
Accruals 254,081 154,397
─────────── ───────────
1,277,880
═══════════		 1,188,266
═══════════

22. Creditors: amounts falling due within one year

Included above are other loans of £180,000 (2025: £180,000) which are technically repayable on demand but are considered by the trustees to be due after more than one year from the balance sheet date.

The bank loans are secured on the land and buildings of the charity.

- 36 -

Jamie's Farm

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 28 February 2026

23. Creditors: amounts falling due after more than one year

2026 2025
£ £
Other loans 6,375,470 4,494,307
═══════════ ═══════════
Amount
repayable
Loan balance Repayment after more
due > one year Interest rate period than 5 years
£ £
28 February 2026
Bank loan secured on Bath & Hereford 2% over base with
(609,869) 2.25% min 25 years (502,732)
Bank loan secured on Monmouth 2% over base with
(837,126) 2.25% min 25 years (690,067)
Bank loan secured on Shockerwick 2.15% over base
(1,206,253) with 3.15% min 25 years (1,080,415)
Loan secured on Shockerwick (500,000) 4.5% 5 years nil
Loan secured on Shockerwick (500,000) nil 8 years (100,000)
Loan secured on Lewes (1,972,222) 4.0% 10 years (1,722,222)
Unsecured (750,000) 2.0% 7 years (750,000)
29 February 2025
Bank loan secured on Bath & Hereford 2% over base with
(654,273) 2.25% min 25 years (555,551)
Bank loan secured on Monmouth 2% over base with
(870,033) 2.25% min 25 years (712,659)
Bank loan secured on Shockerwick (1,000,000) 7.87% 25 years (917,151)
Bank loan secured on Shockerwick 2.15% over base
(970,000) with 3.15% min 25 years (893,241)
Loan secured on Shockerwick (500,000) 4.5% 5 years nil
Loan secured on Shockerwick (500,000) nil 8 years (200,000)
24. Deferred income
2026 2025
£ £
At 1 March 2025 409,429 487,677
Amount released to income (404,509) (474,882)
Amount deferred in year 404,768 396,634
───────── ─────────
At 28 February 2026 409,688
═════════		 409,429
═════════

Deferred income represents money received for farm visits which will occur after the year end and donations/grants which are subject to performance related conditions.

- 37 -

Jamie's Farm

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 28 February 2026

25. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £111,040 (2025: £93,564).

26. Analysis of charitable funds
At 1 March 2025 Income Expenditure TransfersAt 28 Feb 2026
Current year £ £ £ £ £
General funds 1,306,120 4,292,464 (3,496,527) (1,009,397) 1,092,660
Capital assets fund 7,247,853 – (566,157) 2,034,624 8,716,320
─────────── ─────────── ─────────── ─────────── ───────────
8,553,973 4,292,464 (4,062,684) 1,025,227 9,808,980
═══════════ ═══════════ ═══════════ ═══════════ ═══════════
At 1 March 2024 Income Expenditure Transfers At 28 Feb 2025
Prior year £ £ £ £ £
General funds 545,003 3,885,364 (2,721,320) (402,927) 1,306,120
Capital assets fund 5,808,952 – (376,250) 1,815,151 7,247,853
─────────── ─────────── ─────────── ─────────── ───────────
6,353,955
═══════════		 3,885,364
═══════════		 (3,097,570)
═══════════		 1,412,224
═══════════		 8,553,973
═══════════

The Capital Assets fund represents the net book value, net of any loan balance outstanding, of those assets funded by unrestricted income or funded by restricted income but where the terms of the restriction have been met and in future the asset can be used on an unrestricted basis for any charitable purpose. The fund can only be realised on the disposal of those fixed assets.

- 38 -

Jamie's Farm

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 28 February 2026

26. Analysis of charitable funds ( continued )

Analysis of charitable funds(con tinued)
Restricted funds
At 1 March 2025 Income Expenditure TransfersAt 28 Feb 2026
Current year £ £ £ £ £
Revenue funds
The Fidelity UK Foundation – 118,026 (118,026) – –
The Westminster Foundation – 89,500 (89,500) – –
The Dulverton Trust – 35,000 (35,000) – –
John Lyon's Charity – 45,410 (45,410) – –
Anonymous – 35,000 (35,000) – –
The Rayne Foundation – 40,000 (40,000) – –
Anonymous – 34,150 (34,150) – –
The Ernest Cook Trust – 121,900 (121,900) – –
The Gerald Leigh Charitable
Trust – 75,678 (33,635) – 42,043
ADM Cares – 35,891 (35,891) – –
Esmée Fairbairn Foundation – 83,334 (20,293) – 63,041
Yorkshire Dales National
Park – 51,546 (51,546) – –
Other restricted funds 23,029 458,653 (481,682) – –
Capital funds
Future Builders - SEIF 314,425 – (8,980) – 305,445
The Fidelity UK Foundation 143,900 – (12,213) – 131,687
Garfield Weston Foundation – 300,000 – (300,000) –
The Fonthill Foundation – 1,500,000 – – 1,500,000
The Ernest Kleinwort
Charitable Trust – 50,000 – (50,000) –
Anonymous – 70,001 – (70,001) –
Anne Duchess of Westminster
Foundation 10,000 – – (10,000) –
Cotswolds Conservation
Board – 250,000 – (250,000) –
The Swire Charitable Trust – 125,000 – – 125,000
Bernard Sunley Foundation – 75,000 – (75,000) –
Rural Payments Agency – 107,946 – (107,946) –
The Clothworkers' Foundation 71,056 – – (71,056) –
Other capital grants – 91,224 – (91,224) –
───────── ─────────── ─────────── ─────────── ───────────
562,410 3,793,259 (1,163,226) (1,025,227) 2,167,216
═════════ ═══════════ ═══════════ ═══════════ ═══════════

- 39 -

Jamie's Farm

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 28 February 2026

26. Analysis of charitable funds (continued)

Restricted funds

Restricted funds Restricted funds
At 1 March 2024 Income Expenditure Transfers At 28 Feb 2025
Prior year
Revenue funds £ £ £ £ £
The Fidelity UK Foundation 59,339 225,879 (285,218) – –
The Westminster Foundation 94,000 – (94,000) – –
The Dulverton Trust – 35,000 (35,000) – –
Champions for Children
Campaign – 63,470 (63,470) – –
The Big Give Christmas
Challenge Campaign – 56,835 (56,835) – –
The Innholders' Charitable
Foundation – 25,000 (25,000) – –
John Lyon's Charity – 45,410 (45,410) – –
Anonymous – 35,000 (35,000) – –
The Childhood Trust – 56,250 (56,250) – –
The Ernest Kleinwort
Charitable Trust – 25,000 (25,000) – –
The Rayne Foundation – 40,000 (40,000) – –
Anonymous – 25,000 (25,000) – –
The Constable Educational
Trust – 35,000 (35,000) – –
The Ernest Cook Trust – 98,000 (98,000) – –
The Gerald Leigh Charitable
Trust – 40,000 (40,000) – –
ADM Cares – 47,444 (47,444) – –
The Social Business Trust – 50,000 (50,000) – –
The Progress Foundation – 25,222 (25,222) – –
The Ambassador Programme – – (28,000) 28,000 –
Other restricted funds 5,000 293,468 (282,814) 7,375 23,029
Capital funds – – – – –
Future Builders - SEIF 323,405 – (8,980) – 314,425
The Fidelity UK Foundation 156,113 – (12,213) – 143,900
Garfield Weston Foundation 250,000 – – (250,000) –
St James's Place Charitable
Foundation 250,000 – – (250,000) –
Sarah Jane Leigh Charitable
Trust 177,628 80,000 – (257,628) –
Anonymous 473 185,018 – (185,491) –
Anne Duchess of Westminster
Foundation – 100,000 – (90,000) 10,000
Sally Walden 19,525 – – (19,525) –
The Wolfson Foundation – 90,000 – (90,000) –
Bernard Sunley Foundation 50,000 – – (50,000) –
Andrew Summers – 80,000 – (80,000) –
Rural Payments Agency – 81,207 – (81,207) –
The Clothworkers' Foundation – 100,000 – (28,944) 71,056
Other capital grants 11,746 53,058 – (64,804) –
─────────── ─────────── ─────────── ─────────── ─────────
1,397,229 1,991,261 (1,413,856) (1,412,224) 562,410
═══════════ ═══════════ ═══════════ ═══════════ ═════════

- 40 -

Jamie's Farm

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 28 February 2026

26. Analysis of charitable funds (continued)

Revenue Funds

The revenue restricted funds are to fund costs as follows:

Income received from The Fidelity UK Foundation and The Dulverton Trust is restricted towards core organisational costs.

Income received from The Big Give Christmas Challenge Campaign and The Champions for Children Campaign is restricted to core organisational costs for London beneficiaries.

The Gerald Leigh Charitable Trust income is restricted towards the Skipton Farm Manager salary costs.

The Esmée Fairbairn Foundation income is restricted towards engaging young people in nature friendly farming.

The Rayne Foundation income is restricted towards the Head of Impact and Influence salary costs.

The John Lyon's Charity income is restricted towards our Enhanced Legacy Initiative.

The Westminster Foundation income is restricted towards specific visit costs, monitoring and evaluation and impact staff costs.

ADM Cares income is restricted towards nature and healthy eating.

The Ernest Cook Trust income and an anonymous donation is restricted towards the costs of programme visits to the farms.

An anonymous donor provided income towards the Cultivating Change Programme.

Other grants are individual grants of less than £35,000 each and have funded various running, core and programme costs.

Capital Funds

The capital funds are monies received to fund capital expenditure.

Where the terms of the restriction have been met and in future the asset can be used on an unrestricted basis for any charitable purpose the asset is treated as unrestricted and value of the fund is transferred to the designated Capital Assets fund.

Where the restrictions continue in force, the asset remains classified as restricted and the appropriate proportion of the asset's annual depreciation charge is deducted from each fund.

Fund transfers

The funds transferred represent the net book value of fixed assets which were funded by grants or donations where the terms of the restriction have now been met and in future the asset can be used on an unrestricted basis for any charitable purpose. The value of these assets, net of any loan balance outstanding, has been placed in the designated Capital Assets fund.

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Jamie's Farm

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 28 February 2026

27. Analysis of net assets between funds

Analysis of net assets between funds
Unrestricted Restricted
Total Funds
Funds Funds
2026
£ £ £
Intangible assets 34,432 11,687
46,119
Tangible fixed assets 15,347,142 2,062,132
17,409,274
Net current assets 802,876 93,397
896,273
Creditors greater than 1 year (6,375,470) –
(6,375,470)
──────────── ─────────── ────────────
Net assets 9,808,980 2,167,216
11,976,196
════════════ ═══════════ ════════════
Total
Unrestricted
Designated General
Funds
Funds Funds
2026
Current year £ £ £
Intangible assets 34,432 –
34,432
Tangible fixed assets 15,347,142 –
15,347,142
Net current assets (289,784) 1,092,660
802,876
Creditors greater than 1 year (6,375,470) –
(6,375,470)
──────────── ─────────── ────────────
Net assets 8,716,320 1,092,660
9,808,980
════════════ ═══════════ ════════════
Unrestricted Restricted
Total Funds
Funds Funds
2025
£ £ £
Prior year
Intangible assets 34,440 20,900
55,340
Tangible fixed assets 11,905,559 458,325
12,363,884
Net current assets 1,108,281 83,185
1,191,466
Creditors greater than 1 year (4,494,307) –
(4,494,307)
──────────── ───────── ────────────
Net assets 8,553,973 562,410
9,116,383
════════════ ═════════ ════════════
Total
Designated General
Unrestricted
Funds Funds
Funds 2025
Prior year £ £ £
Intangible assets 34,440 –
34,440
Tangible fixed assets 11,905,559 –
11,905,559
Net current assets (197,839) 1,306,120
1,108,281
Creditors greater than 1 year (4,494,307) –
(4,494,307)
──────────── ─────────── ────────────
Net assets 7,247,853 1,306,120
8,553,973
════════════ ═══════════ ════════════

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Jamie's Farm

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 28 February 2026

28. Analysis of changes in net debt

Analysis of changes in net debt
At 1 Mar 2025 Cash flows At 28 Feb 2026
£ £ £
Cash at bank and in hand 239,975 357,614 597,589
Debt due within one year (228,738) (197,733)
(426,471)
Debt due after one year (4,494,307) (1,881,163)
(6,375,470)
Current asset investments 1,360,751 (688,425)
672,326
─────────── ─────────── ───────────
(3,122,319)
═══════════		 (2,409,707)
═══════════
(5,532,026)
═══════════

29. Operating lease commitments

The total future minimum lease payments under non-cancellable operating leases are as follows:

2026 2025
£ £
Not later than 1 year –
════		 15,844
═══════

30. Contingent asset

In the current year, the charity has been notified of one legacy for which the timeline and remaining proceeds are uncertain at the date of signing the accounts for the year ended 28 February 2026, and therefore, no amounts have been recognised in the accounts.

31. Related parties

The mother of the Co-Chief Executive Officer, Jamie Feilden, is a psychotherapist employed by the charity and has received remuneration in the year amounting to £53,467 (2025: £49,878) and the charity purchased equipment from this employee for the sum of £1,200.

Mark Roper made a loan to the charity of £500,000 ( 2025: £500,000) towards the purchase of Lower Shockerwick Farm. Mr Roper also serves as a trustee of Jamie's Farm.

Sarah Brennan, a charity trustee, paid £212 to stay at one of the charity's properties.

Peter Fielden, uncle of the Co-Chief Executive Officer Jamie Feilden, charged the charity £1,794 for the provision of professional services.

During the prior year Roderick James was reimbursed expenses in the sum of £943 relating to the Monmouth Cabin furnishing.

The charity received a donation of £11,000 during the year from Fielden Clegg Bradley Studios, a Practice in which Peter Clegg, a charity trustee, is a director.

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