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← The Fifth Trust

2025-03-31-accounts

The Fifth Trust

(A company limited by guarantee)

Trustees’ & Directors’ report and financial statements For the year ending 31 March 2025

Registered number: 07262103 | Charity number: 1136718

Contents

The Fifth Trust (a company limited by guarantee)

The Trustees & Directors present their annual report together with the audited financial statements of The Fifth Trust for the period 1 April 2024 to 31 March 2025. The annual report serves the purposes of both a Trustees’ report and a directors’ report under company law. The Trustees & Directors confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company’s governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the group and the charity qualify as small under section 383 of the Companies Act 2006, the group strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013 has been omitted.

Registered number: 07262103

Charity number: 1136718

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About us

For more than three decades, The Fifth Trust has supported adults with learning disabilities to thrive through educational and creative activities, skills training, and meaningful work experience.

Based in the beautiful Elham Valley near Canterbury, we welcome around 170 students from across East Kent to our two skills centres. Here, they take part in a wide variety of sessions – from art and design to catering, horticulture, pottery, and woodwork. Many of the pieces our students create, such as original paintings, handcrafted ceramics, and greetings cards, are available to purchase both on-site at The Gift Shack and through our online shop.

Our work is powered by learning and by doing. We run two thriving social enterprises – the Vineyard Garden Centre and the Vineyard Café – which provide work experience while helping to generate vital income. Students are at the heart of these ventures, growing plants, harvesting vegetables, preparing meals, and serving customers with pride and professionalism.

Our students also work in the local community as members of our garden maintenance and log delivery teams, building confidence and independence while offering valued services to local people.

At The Fifth Trust, every session we offer is an opportunity for our students – to learn, to grow, and to feel proud.

Our vision

A world where every person with a learning disability can access life-enhancing opportunities tailored to their individual needs.

Our mission

To encourage and challenge our students with learning disabilities to do and be the best that they can.

Our values

To care and treat every individual with respect. We tailor our services to the individual needs of each student and offer freedom of choice. We encourage our students and staff to strive and develop skills. To provide excellence; high quality, life enhancing services in a safe, supportive environment. We’re one team. Our staff, volunteers, Trustees, Directors, families, and carers work together to further enhance the lives of our students.

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Trustees, Directors and administration

Board of Trustees / Suzanne O’Brien, Chair 1,2 Directors Dr David Oliver, Vice Chair, Chair of Fifth Trust Forum 1,2 Neil Hope, Chair of Finance, Audit & Risk Committee 1,2 Daniel Cowley (resigned 3rd October 2024) 1,2 Biswatosh Das 1,2 Ceridwen Evans 1,2 Paul Gannaway 1,2 Dr Malcolm Stewart 1,2 Josephine Willacy, Chair of Self-Generated Income Comittee 1,2 Kevin Blades (appointed 8 July 2025) 1,2 Jonathan Penny (appointed 8 July 2025) 1,2 Nicola Marley 1

2 - Board of Trustees

Senior management team Nicola Marley, Chief Executive Officer Gareth Owen-Conway, Finance Director Mike Theoff, Operations Manager (retired 31st March 2025) Peter Stratton, Director of Strategy (appointed 1st January 2025) Alison Baker, Head of Care (appointed 1st January 2025) Ern Marden, Digital & Facilities Manager (appointed 1st January 2025)

Company registered 07262103 number Charity registered number 1136718 Registered office Elham Valley Vineyard Breach Barham Canterbury CT4 6LN Company secretary Gareth Owen-Conway Independent auditor Kreston Reeves Audit LLP 2nd Floor Maritime Place Quayside Chatham Maritime Chatham ME4 4QZ Banks Barclays Bank plc Solicitors Robson & Co 147 High St Hythe CT21 5JN

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Welcome

Welcome to our 2024-25 annual report following another remarkable year of progress.

A major focus of this year was rebuilding our music and performing arts room. We raised a phenomenal £28,000, including over £14,000 from our Big Give Christmas Challenge. As we write, the rebuild is underway - an achievement only possible with the generous support of our friends far and wide, for whom we are extremely grateful.

The word new defined much of the past year. We celebrated new openings. In September, we proudly unveiled our sensory gardens at the Barham Skills Centre after two years of fundraising. The peaceful space is designed to calm and improve the wellbeing of our students with learning disabilities. It helps by providing a soothing environment where students can regulate their emotions, reduce anxiety, and engage their senses in a gentle, supportive way.

Nikki Marley, CEO

Suzanne O’Brien, Chair

We also opened our new Gift Shack. This bespoke shop showcases the broad range of our talented students’ work, celebrating the amazing skills and creativity we have at The Fifth Trust. Construction of the shop, located within our Vineyard Garden Centre, was completed by The Fifth Trust Wood Shack department, and was a massive collaborative effort involving charitywide departments coming together – a true labour of love. Customer feedback has been overwhelmingly positive.

Elsewhere, we launched two new Elham Valley Vineyard wines, welcomed new staff and students, and hosted a range of new partners through our corporate volunteering scheme. Their enthusiasm and contributions have been invaluable.

Not new, however, is our ongoing commitment to sustainability. Our Photography department reaffirmed this by creating a stunning sustainability exhibition, which was displayed on board Saga Cruises from December 2024, educating guests on the importance of reusing and reducing waste.

Closer to home, we continued our Christmas tree recycling scheme, where customers donated their used trees to us. The trees were then processed and transformed into mulch and pathways at Barham Skills Centre by our Horticulture students. Sustainability remains at the heart of our Horticulture programme, which continues to evolve, reducing our carbon footprint and minimising waste wherever we can.

We were proud recipients of a Kent Mental Wellbeing Award for our sensory room, which recognises our commitment to improving the wellbeing of students with learning disabilities.

Looking ahead, we are committed to sustaining and expanding our WINNER 2024 work, ensuring our students receive the best opportunities to thrive and grow. Every day we encourage and challenge our students to do and be the best that they can.

Thank you to everyone who supports The Fifth Trust to deliver our vision, a world where every person with a learning disability can access life-enhancing opportunities tailored to their individual needs.

Nikki Marley, CEO

Suzanne O’Brien, Chair

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Our aims and objectives

To continue providing our students with a safe, supportive and fulfilling way of life.

To expand access to our services, both on-site and online, for people with learning disabilities.

To increase income generation through our social enterprises, fundraising and new developments.

To increase opportunities for students and staff to learn, grow and reach their potential.

Strategy for achieving aims and objectives

The Fifth Trust is succeeding in delivering our vision, whilst constantly adapting and adding to our service provision to meet the growing demands from the marketplace and client needs.

We will continue delivering our highly regarded service to our students, supported by our staff, partners, suppliers, supporters, friends and volunteers.

Our people are the essence of what The Fifth Trust is. With this in mind, we work hard at understanding the choices we offer to current and new students. We monitor, survey and encourage comment from students. We involve, challenge, train and develop our staff to become the best people to work with our students. We give all staff the opportunity to progress and learn new skills and extend their value, not only to us here at The Fifth Trust but to the broader care community.

Public benefit

The charity’s objective is to support adults with learning disabilities, and this is a benefit to them, to their families and to the wider community. In setting objectives and planning activities, the Trustees have given due consideration to general guidance relating to public benefit published by the Charity Commission.

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Student services

AQA Unit Award Scheme

In January 2024, we launched bespoke AQA Unit Award Scheme courses. Following a successful trial period, these accessible courses are now fully operational. Each course is individualised and tailored to the ability of the student taking part.

How the courses run

In each session, students work one-to-one or in small groups with an instructor to focus on age range a specific skill or topic. After learning about the subject, they complete a practical activity and reflect on what they have learned. This reflection helps demonstrate how they have understood and applied the skill.

Instructors gather evidence throughout the process, which can include written work and photos. This evidence is then submitted to the AQA exam board for review. If the requirements for the unit are met, students are awarded an official AQA certificate.

We are now seeing students pass units every week. As of April 2025, a total of 221 units have been completed. Over 95 students have taken part so far, covering 34 different courses.

Nearly all our sessions now include AQAaccredited work, with at least three students completing units in each area. The courses also link closely with FTConnect, our online learning platform, allowing for flexible and blended learning.

This approach gives students clear goals and helps build confidence, pride, and a strong sense of achievement.

==> picture [147 x 40] intentionally omitted <==

----- Start of picture text -----
“I felt really proud of myself for
working hard and getting my
certificate.”
----- End of picture text -----

==> picture [154 x 9] intentionally omitted <==

----- Start of picture text -----
Mason, student at The Fifth Trust
----- End of picture text -----

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Student survey

We are passionate about giving our students a voice. In 2025, we set an ambitious target to survey over 100 students to learn about their experiences at The Fifth Trust. In the past, response rates were low because our surveys weren’t accessible enough. This time, we did things differently.

We developed an easy-read format, incorporating clear language, symbols, and visual cues. Our Administrator and our Communications Manager also worked one-to-one with more than 100 students over several weeks, carefully adapting how we communicated to meet each individual’s needs. This allowed students to fully engage with the process, providing us with rich, meaningful insights into what they truly think and feel.

From our students surveyed:

are in paid employment

stay at home when not attending The Fifth Trust for the full or partial workweek

These results highlight the importance of accessible daycare and employment opportunities for adults with learning disabilities.

Yet, despite these challenges, students report feeling incredibly positive about their time at The Fifth Trust:

feel happy

“I found the survey really easy. It’s important to listen to students so we can all be happy.”

Robert, student at The Fifth Trust

feel proud of themselves

This demonstrates the transformative impact of having a place where people with learning disabilities feel valued, capable, and empowered.

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Social enterprises

Our social enterprises continue to be instrumental in both supporting our students and raising vital funds for The Fifth Trust.

The Vineyard Café’s revenue for the year was £195k including student fees, up £6k from last year. The café made another solid profit during the year of £17k (2024 - £20k).

The Vineyard Garden Centre revenue for the year was £579k, £3k more than last year. Across the board, revenues for garden centre, logs, garden services and student fees were all fairly flat on last year. However, operating expenses were up £20k on last year, mainly due to increased wage costs (£17k) due to a near 10% increase in minimum wage. As a result, profit for the year was significantly smaller at just £2k (2024 - £26k), though we have now achieved a long-held ambition to reflect how much we value staff by paying Living Wage rather than minimum wage.

The Gift Shack

The Gift Shack opened in summer 2024, and it has been a transformative addition to The Fifth Trust.

The bespoke shop, built in-house, not only generates additional revenue but also serves as

a vibrant exhibition space, celebrating the diverse talents of our students. With a dedicated Sales & Merchandising Manager now in place to oversee stock and coordinate with instructors, our students are empowered to create a wide range of handcrafted items, which we proudly display and sell in the Gift Shack.

In the first six months of operation, The Gift Shack raised £11,460 from the sale of studentmade items.

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Elham Valley Vineyard

Since 2022, we have made a concerted effort to enhance our Elham Valley Vineyard, improving vine care, soil health, and infrastructure. These changes have created a more efficient, sustainable space for collaboration, and student engagement.

Wines

In 2024, we launched two rosés – one sparkling and one still – which are perfect for sunshine and celebrations. All profits made from wine sales are ploughed back into our charity.

Vines

In June 2024, we planted 500 Solaris grapevines, a variety well-suited to our climate and growing conditions. We eagerly anticipate our first harvest in a few years’ time.

Rebrand

Our rebrand was a collaborative, charity-wide effort. Student Patrick created the handprint logo during his Print sessions, with students Madeline and Leah contributing elha inspiring quotes. Our in-house design team brought everything together into vibrant new labels that proudly showcase our students’ creativity and the incredible talents across the Trust.

Support

Pro-bono support from viticulturist Tim Ferris and

corporate volunteers have been instrumental in supporting the vineyard. Read more in the Fundraising section on page 12.

Sustainability

Our journey from vine to wine couldn’t be much shorter. Our wine is bottled by Defined Wine, based just five miles away in Bridge. This keeps things local and significantly lowers our carbon footprint.

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Fundraising

Music room campaign

Unlike previous years where several campaigns ran in tandem, 2025 saw a deliberately unified focus: raising funds for the rebuilding of our music and performing arts room. This single, shared goal helped galvanise efforts across the charity and our supporters.

Key fundraising moments throughout the year included:

==> picture [500 x 112] intentionally omitted <==

----- Start of picture text -----
May/June – Garden centre September – Student art
donation drive: £1,011.55 exhibition: £582.50 and our
charity golf day: £2,971.80
July – Staff and student-
led fundraisers, including December – Big Give Student Diana and Head of Care
the Team5T Triathlon and Christmas Challenge: Alison Baker delivering refreshments
sponsored walk: £3,007.50 £14,399.38 during our charity golf day
----- End of picture text -----

The campaign resonated deeply with our existing supporters. As momentum grew, it also reached new audiences, with generous first-time pledges from Canterbury Rugby Club, Donations with A Difference, and Port of Dover. These new supporters were instrumental in the success of our second Big Give Christmas Challenge.

By the end of March, the campaign had raised £28,345, allowing initial building work to begin in May. Further community fundraising will help us purchase new equipment, storage, and furniture. We anticipate the music room will be completed by summer 2025.

Sensory gardens

In September, we proudly opened a new series of sensory gardens at Barham Skills Centre. These were officially unveiled by Anne Sayle and Jenny Gurney – mothers of two of our students Ian and Susie, in whos’ memory the gardens are dedicated.

On a beautiful late-summer afternoon, their families joined students, staff, volunteers, and Trustees to celebrate their lives and enjoy the peaceful, inclusive space the gardens now provide.

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Community support

We continue to find support among local societies, pubs, and clubs, including donations of £1,022 from Broome Park Kitchener’s, £1,064 from Crab and Winkle WI, and £500 from Elham Bowls Club. We were also touched by a final donation of £600 from long-time supporter Richard Borthwick, raised through the sale of his sweetpeas. Richard’s generosity over the years has made a real difference, and we’re truly grateful.

We received £1,000 from Tesco’s Community Grant Scheme to buy new baking equipment for Cook Club and the café. And while Storm Darragh meant we were unable to improve on last year’s record total at our Christmas Craft Fair, lots of people did brave the wind and the rain, and the £10,200 we made was a great effort and credit to the hard work of students and staff.

Corporate support

Corporate volunteering reached record heights in summer 2025, with around 100 volunteers from a range of companies. Spread across 13 activity days, volunteers worked tirelessly in our vineyard, log shed, and horticulture departments.

This year, we were proud to welcome new partners including Eurotunnel and Port of Dover, alongside returning supporters like Saga, NFU Mutual Ashford, Tenterden & Whitfield, and Canterbury Christ Church University.

In total, corporate volunteers contributed 500+ hours of work – and donated over £6,000 to our charity. Many corporate groups also supported our café and garden centre, with Elham Valley Vineyard wine being a top-seller!

Organisations who volunteered in 2024-2025 include:

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Financial review

Results

The Fifth Trust had a net surplus of income over expenditure in the year of £160,110 (2024 – £134,838) broken down as follows:

£
Charity’s core care services 95,190
Garden Centre 2,211
Café 17,067
Donations – Unrestricted 15,796
Donations – Restricted 29,846
___
TOTAL 160,110

Donations of £45,642 were received during the year. £29,846 was restricted, of which £28,345 was for our new music room appeal, £500 for our sensory garden appeal, and £1000 for café equipment. During the year expenditure incurred on restricted donations was £32,547, of which £23,024 related to the completion of the sensory garden at the Barham Skills Centre. £22,453 was capitalised during the year and therefore not deducted within the net surplus referred to above.

Reserves

The Trustees have adopted a policy in line with the Charity Commission’s recommendations. The policy takes into account unexpected variances in income and expenditure to ensure that the charity is able to meet its financial obligations and to maintain its undertakings in the short term. In particular the reserves are required for the following purposes:

The Trustees have set the figure for liquid unrestricted reserves at a minimum of £460,000 (2024 - £430,000), which on a worst-case scenario would cover three months’ net costs (excluding depreciation and care service fee income), a building reserve and other potential costs in the event of winding up.

The total of unrestricted funds held in net current assets is £1,085,159 (2024 - £852,973) of which £301,540 is designated funds, leaving £783,619. £300,000 of designated funds is for the development of the necessary infrastructure to successfully deliver our services. Unrestricted cash at bank and in hand is £851,031.

Restricted reserves as at 31 March 2025 were £47,879, all of which is held as cash at bank. Of this sum, £28,346 relates to donations for the new music room appeal. The balance of £19,533 relates to various other projects.

Principal funding sources

The Fifth Trust’s revenue is generated from three main sources: day care fees (primarily from a contract with Kent County Council [KCC]); income from our social enterprises, the café and the garden centre providing our training and work experience activities for students; and charitable grants and donations. Total revenues for the year were £2.46m (2024 - £2.16m). The majority of this increase came from increased day care fees which were up £274k on last year as a result of the new KCC contract being fully implemented from 6 April 2024.

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Financial Key Performance Indicators (KPIs)

The Trustees receive quarterly management accounts covering each of the three main activities in the group: day care services, the café and garden centre, and details of donations and fundraising activities. These accounts show the quarterly performance and year to date performance of each operation with comparisons to budgets which are set at the beginning of the year. These results are accompanied by a commentary on the performances highlighting any main variances and any issues that have arisen. In addition, a range of key performance indicators are included in the reports such as gross operating margins, student and staff numbers.

Going concern

After making appropriate enquiries, the Trustees & Directors have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

As at 31 March 2025 the charity has in excess of £850k of unrestricted cash reserves to support the charity’s ongoing activities. The charity is currently forecasting positive net cash from operations for the financial year ended 31 March 2026.

Principal risks and uncertainties

they arise in order to secure its revenues from that source. We entered into a new four-year contract with KCC beginning 1 October 2022 which allows for two plus two years extensions (up to four years). This new contract will secure the majority of our existing care service fees for the remainder of the contract and significantly reduce our risk of a loss of income over this period.

As set out in last year’s accounts, there were teething problems getting all KCC students on to the new contract. However, all remaining students were moved on to the new contract with KCC with effect from 6 April 2024. The contract has worked well throughout the year with no further issues. KCC has also confirmed an additional fee increase to the contract of 4% with effect from 6 April 2025. This will now give us greater certainty over income that will be generated from the contract over the remaining four-year contract period. Should KCC have further budgetary issues and have to issue a section 114 notice, we believe our services are considered essential services within the social services framework as long as the student has a care plan, and therefore KCC would be obliged to maintain the provision of the services we provide.

The Trustees and the management team revisit the charity’s business strategy annually. Income from social enterprise activities is monitored on a departmental basis, highlighting potential areas of weakness to allow early remedial action where required. Major capital projects are not undertaken until adequate funding is in place. Trustees and management hold regular Finance, Audit and Risk Committee meetings which report back to the quarterly Trustee board meetings.

The major risk for the charity is the loss of income needed to fund its ongoing day care activities. The Trustees and senior management keep abreast of changes in government policy on day care fees and day care regulations to ensure that the charity complies with all requirements and implements any necessary changes as

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Structure, governance and management

The Fifth Trust is registered as a charitable company limited by guarantee and was established by a trust deed.

The oversight of the group and the charity is the responsibility of the Trustees, who are all elected under the terms of the Articles of Association. Our Trustees play a pivotal role in setting the strategic direction of the Trust and supporting and guiding the Executive Directors and senior management team.

In setting the Trust’s aims and objectives, the Trustees give due consideration to general guidance published by the Charity Commission relating to public benefit.

Board meetings are generally held quarterly with an annual ‘away day’ to review strategy. Smaller working groups of Trustees, directors and managers focus on particular areas and projects and meet as required. We also run the FT Forum, which has been established as a vehicle to involve our students, carers, families and residential houses in shaping our services. The forum provides advice and feedback to the board.

The Trust has a conflict of interest policy and any potential conflicts are identified at all meetings.

Safeguarding is a priority and is on the agenda at every board meeting. Our safeguarding policy is reviewed annually. In line with the Charity Commission’s guidelines, all staff, Trustees, directors and volunteers undergo safeguarding training and all are DBS checked.

The board of Trustees is responsible for selecting and recruiting suitable Trustees to office and appointing directors. The Trustees strive to ensure a good representation of independent members with the necessary skills and experience to strengthen the board. Trustees serve on an unpaid voluntary basis.

In addition to the responsibilities of the Trustees the Board of Directors delegate the operational responsibility for the Company to the Executive directors and the senior management team.

Remuneration policy

At The Fifth Trust, our pay structure is critical in maintaining motivation, ensuring staff retention and improving performance, as well as the senior managers who provide the leadership required to meet the Trust’s objectives. The annual increase is recommended by the CEO and approved by the Trustees as part of the process in signing off the annual budget.

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Statement of Trustees’ & Directors’ responsibilities

The Trustees (who are also Directors of the charity for the purposes of company law) and executive Directors (who are not Trustees) are responsible for preparing the Trustees’ and Directors’ 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 Trustees & Directors to prepare financial statements for each financial year. Under company law, the Trustees & Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and the charity and of their incoming resources and application of resources, including their income and expenditure, for that period. In preparing these financial statements, the Trustees & Directors are required to:

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

Disclosure of information

to auditor

Each of the persons who are Trustees & Directors at the time when this Trustees’ & Directors report is approved has confirmed that:

Auditor

The audit registration of Kreston Reeves LLP was transferred to Kreston Reeves Audit LLP on 6 October 2025. Kreston Reeves Audit LLP were formally appointed as auditor to the company on 6 October 2025.

The auditor, Kreston Reeves Audit LLP, have indicated their willingness to continue in office. The designated Trustees & Directors will propose a motion reappointing the auditor at a meeting of the Trustees & Directors.

Approved by order of the members of the board of Trustees & Directors and signed on their

behalf by: Foam Suzanne O’Brien Chairperson Date: 28/10/2025

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Independent auditor’s report to the members of The Fifth Trust

Opinion

We have audited the financial statements of The Fifth Trust (the ‘parent charitable company’) and its subsidiaries (the ‘group’) for the year ended 31 March 2025 which comprise the consolidated statement of financial activities, the consolidated balance sheet, the charity balance sheet, the consolidated statement of cash flows and the related notes, 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

(UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditors’ responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council’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’ / Directors’ 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 group’s or the parent charitable company’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 / Directors with respect to going concern are described in the relevant sections of this report.

We conducted our audit in accordance with International Standards on Auditing

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Other information

The other information comprises the information included in the annual report other than the financial statements and our auditors’ report thereon. The Trustees / Directors are responsible for the other information contained within the annual report. 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. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.

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 our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ & Directors’ report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustees & Directors

As explained more fully in the Trustees’ & Directors responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and

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for being satisfied that they give a true and fair view, and for such internal control as the Trustees / Directors 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 / Directors are responsible for assessing the group’s and the parent charitable company’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 group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s 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 auditors’ 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 extent to which our procedures are capable of detecting irregularities, including fraud is

detailed below:

Capability of the audit in detecting irregularities, including fraud

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design effectiveness of controls that management has in place to prevent and detect fraud; and

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. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

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represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report

This report is made solely to the charitable company’s members and Trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company’s Trustees, as a body, Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s members and Trustees those matters we are required to state to them in an auditors’ 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 charitable company and its members and Trustees, as a body, for our audit work, for this report, or for the opinions we have formed.

Kreston Reeves Audit LLP

Kreston Reeves Audit LLP

Statutory Auditor Chatham Maritime

Date: 29 October 2025

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THE FIFTH TRUST

(A company limited by guarantee) Registered number: 07262103

Consolidated statement of financial activities (incorporating income and expenditure account) For the year ended 31 March 2025

Note
Income from:
Donations and legacies
3
Charitable activities
4
Investments
5
Total income
Expenditure on:
Raising funds
6
Charitable activities
7
Total expenditure
Net income/(expenditure)
Transfers between funds
17
Net income before gains on investments
Net gains/ (losses) on investments
Net income movement in funds
Reconciliation of funds:
Total funds brought forward
17
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2025
£
15,796
2,412,473
2,306
2,430,575
-
2,290,218
2,290,218
140,357
22,454
162,811
-
162,811
2,729,078
162,811
2,891,889		 Restricted
funds
2025
£
29,846
-
-
29,846
-
10,093
10,093
19,753
(22,454)
(2,701)
-
(2,701)
50,580
(2,701)
47,879		 Total
funds
2025
£
45,642
2,412,473
2,306
2,460,421
-
2,300,311
2,300,311
160,110
-
160,110
-
160,110
2,779,658
160,110
2,939,768		 Total
funds
2024
£
86,442
2,078,698
500
2,165,640
-
2,030,802
2,030,802
134,838
-
134,838
-
134,838
2,644,820
134,838
2,779,658

The Consolidated statement of financial activities includes all gains and losses recognised in the year. The notes on pages 26 to 41 form part of these financial statements.

22

THE FIFTH TRUST

(A company limited by guarantee) Registered number: 07262103

Consolidated balance sheet As at 31 March 2025

2025 2025 2024 2024
Note £ £ £ £
Fixed assets
Tangible assets 11 1,820,063 1,902,489
1,820,063 1,902,489
Current assets
Stocks 13 143,329 160,148
Debtors 14 197,101 295,702
Cash at bank and in hand 22 898,910 541,433
1,239,340 997,283
Creditors:amounts falling due
within one year 15 (106,302) (93,730)
Net current assets 1,133,038 903,553
Creditors:amounts falling due
after more than one year 16 (13,333) (26,384)
Net assets 2,939,768 2,779,658
Charity funds
Restricted funds 17 47,879 50,580
Unrestricted funds 17 2,891,889 2,729,078
Total funds 2,939,768 2,779,658

The Trustees & Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees & Directors and signed on their behalf by:

Neil Hope

Date: 28/10/2025

The notes on pages 26 to 41 form part of these financial statements.

23

Company balance sheet as at 31 March 2025

THE FIFTH TRUST

(A company limited by guarantee) Registered number: 07262103

2025 2025 2024 2024
Note £ £ £ £
Fixed assets
Tangible assets 11 1,731,446 1,803,872
Investments 12 57,443 57,443
1,788,889 1,861,315
Current assets
Stocks 13 33,059 38,098
Debtors 14 261,418 230,842
Cash at bank and in hand 417,141 357,339
711,618 626,279
Creditors:amounts falling due
within one year 15 (40,572) (38,027)
Net current assets 671,046 588,252
Creditors:amounts falling due
after more than one year 16 (5,000) (15,000)
Net assets 2,454,935 2,434,567
Charity funds
Restricted funds 47,879 50,580
Unrestricted funds 2,407,056 2,383,987
Total funds 2,454,935 2,434,567

The Trustees & Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees & Directors and signed on their behalf by:

Neil Hope

Chair of Finance, Audit & Risk Committee

Date: 28/10/2025

The notes on pages 26 to 41 form part of these financial statements.

24

THE FIFTH TRUST

(A company limited by guarantee) Registered number: 07262103

Consolidated statement of cashflows for the year ended 31 March 2025

Note
Cash flows from operating activities
Net cash used in operating activities
20
Cash flows from investing activities
Dividends, interest and rents from investments
Proceeds from sale of fixed assets
Purchase of tangible fixed assets
Net cash used in investing activities
Cash flows from financing activities
Repayment of borrowing
Net cash used in investing activities
Changes in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2025
£
426,143
2,306
-
(57,850)
(55,544)
(13,122)
(13,122)
357,477
541,433
898,910		 2024
£
178,878
500
250
(106,273)
(105,523)
(14,021)
(14,021)
59,334
482,099
541,433

The notes on pages 26 to 41 form part of these financial statements.

25

Notes to the financial statements for the year ended 31 March 2025

THE FIFTH TRUST

(A company limited by guarantee) Registered number: 07262103

1 General information

The Fifth Trust is a charity registered in England. The charity's registered address is Elham Valley Vineyard, Breach, Barham, Canterbury, CT4 6LN.

2 Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Fifth Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The consolidated statement of financial activities (SOFA) and consolidated balance sheet consolidate the financial statements of the Company and its subsidiary undertakings. The results of the subsidiaries are consolidated on a line by line basis.

The charity has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of financial activities.

2.2 Going concern

The Trustees assess whether the use of going concern is appropriate, i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the Charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Charity's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

2.3 Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

26

Notes to the financial statements for the year ended 31 March 2025

THE FIFTH TRUST

(A company limited by guarantee) Registered number: 07262103

2 Accounting policies (continued)

Provision of services

Revenue from the provision of services is recognised when all of the following conditions are satisfied:

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs.

2.5 Interest receivable

Interest on funds held on deposit are included when receivable and the amount can be measured reliably by the Group; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

27

Notes to the financial statements for the year ended 31 March 2025

(A company limited by guarantee) Registered number: 07262103

THE FIFTH TRUST

2 Accounting policies (continued)

2.6 Tangible fixed assets and depreciation

Tangible fixed assets are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.

Depreciation is provided on the following bases:

Buildings 4% straight line Tools and Equipment 25% reducing balance Motor Vehicles 25% reducing balance Forklift (included in MV) 10% straight line

2.7 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Consolidated statement of financial activities.

Investments in subsidiaries are valued at cost less provision for impairment.

2.8 Stocks

Stocks are valued at the lower of cost and net realisable value. Cost comprises direct costs of purchase that have been incurred in bringing the stock to its present location and condition.

2.9 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.10 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

28

Notes to the financial statements for the year ended 31 March 2025

(A company limited by guarantee) Registered number: 07262103

THE FIFTH TRUST

2 Accounting policies (continued)

2.11 Liabilities and provisions

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.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Consolidated statement of financial activities as a finance cost.

2.12 Financial instruments

The Group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.13 Operating leases

Rentals paid under operating leases are charged to the Consolidated statement of financial activities on a straight-line basis over the lease term.

2.14 Pensions

The Group operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Group to the fund in respect of the year.

2.15 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

29

Notes to the financial statements for the year ended 31 March 2025

THE FIFTH TRUST

(A company limited by guarantee) Registered number: 07262103

3
Income from donations and legacies
Donations
Donations
4
Income from charitable activities
Income generated from students
Sales of products and work undertaken
Income generated from students
Sales of products and work undertaken
Profit on sale of fixed assets
5
Investment income
Bank and client interest
Bank interest		 Unrestricted
Restricted
Total
funds
funds
funds
2025
2025
2025
£
£
£
15,796
29,846
45,642		 Unrestricted
Restricted
Total
funds
funds
funds
2025
2025
2025
£
£
£
15,796
29,846
45,642
Unrestricted
Restricted
Total
funds
funds
funds
2024
2024
2024
£
£
£
27,397
59,045
86,442
Unrestricted
Total
funds
funds
2025
2025
£
£
1,786,877
1,786,877
625,596
625,596
2,412,473
2,412,473
Unrestricted
Total
funds
funds
2024
2024
£
£
1,487,253
1,487,253
591,331
591,331
114
114
2,078,698
2,078,698
Unrestricted
Total
funds
funds
2025
2025
£
£
2,306
2,306
Unrestricted
Total
funds
funds
2024
2024
£
£
500
500

30

Notes to the financial statements for the year ended 31 March 2025

THE FIFTH TRUST

(A company limited by guarantee) Registered number: 07262103

6
Expenditure on raising funds
Unrestricted
Restricted
Total
funds
funds
funds
2025
2025
2025
£
£
£
Fundraising expenses
-
-
-
Unrestricted
Restricted
Total
funds
funds
funds
2024
2024
2024
£
£
£
Fundraising expenses
-
-
-
7
Analysis of expenditure on charitable activities
Summary by fund type
Unrestricted
Restricted
Total
funds
funds
funds
2025
2025
2025
£
£
£
Charitable activities
2,290,218
10,093
2,300,311
Unrestricted
Restricted
Total
funds
funds
funds
2024
2024
2024
£
£
£
Charitable activities
2,004,929
25,873
2,030,802
8
Analysis of charitable expenditure by activities
Activities
undertaken
Total
directly
funds
2025
2025
£
£
Charitable activities
2,300,311
2,300,311
Activities
undertaken
Total
directly
funds
2024
2024
£
£
Charitable activities
2,030,802
2,030,802		 6
Expenditure on raising funds
Unrestricted
Restricted
Total
funds
funds
funds
2025
2025
2025
£
£
£
Fundraising expenses
-
-
-
Unrestricted
Restricted
Total
funds
funds
funds
2024
2024
2024
£
£
£
Fundraising expenses
-
-
-
7
Analysis of expenditure on charitable activities
Summary by fund type
Unrestricted
Restricted
Total
funds
funds
funds
2025
2025
2025
£
£
£
Charitable activities
2,290,218
10,093
2,300,311
Unrestricted
Restricted
Total
funds
funds
funds
2024
2024
2024
£
£
£
Charitable activities
2,004,929
25,873
2,030,802
8
Analysis of charitable expenditure by activities
Activities
undertaken
Total
directly
funds
2025
2025
£
£
Charitable activities
2,300,311
2,300,311
Activities
undertaken
Total
directly
funds
2024
2024
£
£
Charitable activities
2,030,802
2,030,802		 6
Expenditure on raising funds
Unrestricted
Restricted
Total
funds
funds
funds
2025
2025
2025
£
£
£
Fundraising expenses
-
-
-
Unrestricted
Restricted
Total
funds
funds
funds
2024
2024
2024
£
£
£
Fundraising expenses
-
-
-
7
Analysis of expenditure on charitable activities
Summary by fund type
Unrestricted
Restricted
Total
funds
funds
funds
2025
2025
2025
£
£
£
Charitable activities
2,290,218
10,093
2,300,311
Unrestricted
Restricted
Total
funds
funds
funds
2024
2024
2024
£
£
£
Charitable activities
2,004,929
25,873
2,030,802
8
Analysis of charitable expenditure by activities
Activities
undertaken
Total
directly
funds
2025
2025
£
£
Charitable activities
2,300,311
2,300,311
Activities
undertaken
Total
directly
funds
2024
2024
£
£
Charitable activities
2,030,802
2,030,802
Unrestricted
Restricted
Total
funds
funds
funds
2024
2024
2024
£
£
£
2,004,929
25,873
2,030,802
Activities
undertaken
Total
directly
funds
2025
2025
£
£
2,300,311
2,300,311
Activities
undertaken
Total
directly
funds
2024
2024
£
£
2,030,802
2,030,802

31

Notes to the financial statements for the year ended 31 March 2025

THE FIFTH TRUST

(A company limited by guarantee) Registered number: 07262103

8 Analysis of charitable expenditure by activities (continued)

Analysis of direct costs
Analysis of direct costs
Staff costs
Depreciation
Costs of sales
Training
Cleaning
Session related costs
Connect Online
Travel, transport and motor expenses
Rent and rates
Light and heat
Water rates
Insurance
Advertising and marketing
Repairs and maintenance
Stationery and postage
Telephone
Miscellaneous
Bad debts
Bank charges and interest
Irrecoverable VAT
Professional, accountancy and subscriptions
Auditors' remuneration		 Total
Total
funds
funds
2025
2024
£
£
1,482,484
1,269,785
140,276
141,619
336,698
311,308
5,675
10,618
24,214
23,720
10,789
5,102
5,069
14,313
42,110
43,682
45,729
43,865
37,447
43,494
14,355
14,091
21,445
19,018
6,681
4,092
55,965
39,958
7,238
9,682
2,815
2,517
826
367
422
(24,557)
7,613
6,207
6,100
5,004
35,910
38,817
10,450
8,100
2,300,311
2,030,802

9 Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension
schemes		 Group
Group
Charity
Charity
2025
2024
2025
2024
£
£
£
£
1,326,287
1,145,084
376,277
296,245
106,486
92,666
106,486
92,666
49,711
32,035
49,711
32,035
1,482,484
1,269,785
532,474
420,946

The average number of persons employed by the charity during the year was as follows:

Average number by headcount Group
Group
Charity
Charity
2025
2024
2025
2024
£
£
£
£
60
58
42
39

Full time equivalent headcount for the Group was 48 (2024 - 47) and for the Charity was 36 (2024 - 34).

32

Notes to the financial statements for the year ended 31 March 2025

THE FIFTH TRUST

(A company limited by guarantee) Registered number: 07262103

9 Staff costs (continued)

The total employment benefits including employer national insurance and employer pension contributions of the key management personnel were £272,444 (2024: £205,112).

One employee earned more than £60,000 during the year (2024 - Nil)

Band 2025 2024
£ £
£60,000 - £70,000 1 0

Mike Theoff took early retirement during the year following 30 years of service. He received a non contractual settlement under the Agreement of £27,000.

10 Trustees' and Directors' remuneration and expenses

During the year, no Trustees received remuneration or other benefits (2024 - £NIL).

During the year, no Trustee expenses have been incurred (2024 - £NIL).

During the year directors in their executive role received remuneration of £78,849 (2024 - £67,657)

11 Tangible fixed assets

Group

Cost or valuation
At 1 April 2024
Additions
Disposals
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
On disposals
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Tools and
Motor
Buildings
equipment
vehicles
Total
£
£
£
£
1,981,819
426,208
152,899
2,560,926
23,157
34,693
-
57,850
-
-
-
-
2,004,976
460,901
152,899
2,618,776
319,992
246,104
92,341
658,437
79,810
47,514
12,952
140,276
-
-
-
-
399,802
293,618
105,293
798,713
1,605,174
167,283
47,606
1,820,063
1,661,827
180,104
60,558
1,902,489

33

Notes to the financial statements for the year ended 31 March 2025

THE FIFTH TRUST

(A company limited by guarantee) Registered number: 07262103

11 Tangible fixed assets (continued)

Charity
Cost or valuation
At 1 April 2024
Additions
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Tools and
Motor
Buildings
equipment
vehicles
Total
£
£
£
£
1,925,722
354,845
45,249
2,325,816
23,157
29,211
-
52,368
1,948,879
384,056
45,249
2,378,184
303,122
183,366
35,457
521,945
77,567
44,778
2,448
124,793
380,689
228,144
37,905
646,738
1,568,190
155,912
7,344
1,731,446
1,622,600
171,479
9,792
1,803,871

12 Fixed asset investments

Fixed asset investments
Investments
in
subsidiary
companies
Charity £
Cost or valuation
At 31 March 2024 57,443
Gain on investments -
At 31 March 2025 57,443
Net book value
At 31 March 2025 57,443
At 31 March 2024 57,443

34

Notes to the financial statements for the year ended 31 March 2025

THE FIFTH TRUST

(A company limited by guarantee) Registered number: 07262103

13 Stocks
Group Group Charity Charity
2025 2024 2025 2024
£ £ £ £
Raw materials 8,395 7,659 3,410 2,910
Finished goods and goods for resale 134,934 152,489 29,649 35,188
143,329 160,148 33,059 38,098
14 Debtors
Group Group Charity Charity
lo 2025 2024 2025 2024
£ £ £ £
Due within one year
Trade debtors 153,736 257,399 36,284 31,890
Amounts owed by group undertakings - - 198,429 177,149
Other debtors 28,174 11,213 12,925 8,585
Prepayments and accrued income 15,191 27,090 13,780 13,218
197,101 295,702 261,418 230,842
15 Creditors: amounts falling due within one year
Group Group Charity Charity
2025 2024 2025 2024
£ £ £ £
Trade creditors 18,074 10,542 2,967 4,413
Amounts owed to group undertakings - - 4,175 3,950
Other taxation and social security 50,969 47,348 - -
Other creditors 9,678 7,014 9,678 7,014
Loan 13,571 13,642 10,000 10,071
Accruals 14,010 15,184 13,752 12,579
106,302 93,730 40,572 38,027
16 Creditors: Amounts falling due after more than one year
Group Group Charity Charity
2025 2024 2025 2024
£ £ £ £
Due between one and five years
Loans 13,333 26,384 5,000 15,000
13,333 26,384 5,000 15,000

35

Notes to the financial statements for the year ended 31 March 2025

THE FIFTH TRUST

(A company limited by guarantee) Registered number: 07262103

17 Statement of funds

Statement of funds - current year

Unrestricted
funds
Designated
funds
Buildings Fund
Student activity
Classes
Third Site
General funds
General funds
Total
Unrestricted
funds
Restricted
funds
Other restricted
projects
Total of funds		 Income
Transfer
£
£
£
£
£
£
1,661,827
-
(79,810)
23,157
-
1,605,174
270
-
-
-
-
270
1,270
-
-
-
-
1,270
-
-
-
-
300,000
300,000
Balance at
1 April
2024
Balance at
31 March
2025
Additions/
CAPEX
Expenditure
1,663,367
-
(79,810)
23,157
300,000
1,906,714
1,065,711
2,430,575
(2,210,408)
(703)
(300,000)
985,175
2,729,078
2,430,575
(2,290,218)
22,454
-
2,891,889
50,580
29,846
(10,093)
(22,454)
-
47,879
50,580
29,846
(10,093)
(22,454)
-
47,879
2,779,658
2,460,421
(2,300,311)
-
-
2,939,768

36

Notes to the financial statements for the year ended 31 March 2025

THE FIFTH TRUST

(A company limited by guarantee) Registered number: 07262103

17 Statement of funds (continued)

Statement of funds - prior year

Unrestricted
funds
Designated
funds
Buildings Fund
Student activity
Classes
Connect
General funds
General funds
Total
Unrestricted
funds
Restricted
funds
Skills Centre at
Greenbanks
Fund
Other restricted
projects
Total of funds		 Balance at
Balance at 1
Additions
31 March
April 2023
/Income
Expenditure
2024
£
£
£
£
£
1,704,143
-
(78,188)
35,872
1,661,827
270
-
-
-
270
1,270
-
-
-
1,270
10,504
-
(10,504)
-
-
Additions/
CAPEX
1,716,187
-
(88,692)
35,872
1,663,367
834,016
2,106,595
(1,916,237)
41,337
1,065,711
2,550,203
2,106,595
(2,004,929)
77,209
2,729,078
44,535
300
-
(44,835)
-
50,082
58,745
(25,873)
(32,374)
50,580
94,617
59,045
(25,873)
(77,209)
50,580
2,644,820
2,165,640
(2,030,802)
-
2,779,658

37

Notes to the financial statements for the year ended 31 March 2025

THE FIFTH TRUST

(A company limited by guarantee) Registered number: 07262103

17 Statement of funds (continued)

Fund descriptions

Designated funds

Buildings fund - This fund represents the value of the buildings owned by the charity. Student - Students Tips that will be used for a student Christmas party. Classes - Designated for specific classroom related expenses.

Connect - Our new Digital online platform

Third Site - Funds allocated to the purchase and development of a third site

Restricted funds

Skills Centre at Barham Fund - This fund represents the donations and other income received in suppor of the redevelopment of the Skills Centre site at Barham.

Other restricted projects - This fund consists of a number of small restricted projects, including funding for Lifeskills, dementia support, new music room, and other equipment to be used by the Charity. Connect - Our new Digital online platform

18 Summary of funds

Summary of funds - current year

Designated funds
General funds
Restricted funds
Summary of funds -
Designated funds
General funds
Restricted funds		 Balance at
Balance at 1
Additions
31 March
April 2024
/Income
Expenditure
Transfer
2025
£
£
£
£
£
£
1,663,367
-
(79,810)
23,157
300,000
1,906,714
1,065,711
2,430,575
(2,210,408)
(703)
(300,000)
985,175
50,580
29,846
(10,093)
(22,454)
-
47,879
Additions/
CAPEX
2,779,658
2,460,421
(2,300,311)
-
-
2,939,768
prior year
As Restated
Balance at 1
Additions
31 March
April 2023
/Income
Expenditure
Transfer
2024
£
£
£
£
£
£
1,716,187
-
(88,692)
35,872
-
1,663,367
834,016
2,106,595
(1,916,237)
41,337
-
1,065,711
94,617
59,045
(25,873)
(77,209)
-
50,580
Additions/
CAPEX
2,644,820
2,165,640
(2,030,802)
-
-
2,779,658

38

Notes to the financial statements for the year ended 31 March 2025

(A company limited by guarantee) Registered number: 07262103

THE FIFTH TRUST

19 Analysis of net assets between funds

Analysis of net assets between funds - current year:

Tangible fixed assets
Current assets
Creditors due within one year
Creditors due after more than one year
Analysis of net assets between funds - prior year:
Tangible fixed assets
Current assets
Creditors due within one year
Creditors due after more than one year		 Unrestricted
Restricted
Total
funds
funds
funds
2025
2025
2025
£
£
£
1,820,063
-
1,820,063
1,191,461
47,879
1,239,340
(106,302)
-
(106,302)
(13,333)
-
(13,333)
2,891,889
47,879
2,939,768
Unrestricted
Restricted
Total
funds
funds
funds
2024
2024
2024
£
£
£
1,902,489
-
1,902,489
946,703
50,580
997,283
(93,730)
-
(93,730)
(26,384)
-
(26,384)
2,729,078
50,580
2,779,658

20 Reconciliation of net movement in funds to net cash flow from operating activities

Net income (as per Statement of financial activities)
Adjustments for:
Depreciation charges
Dividends, interests and rents from investments
(Profit) on the sale of fixed assets
(Increase)/Decrease in stocks
Decrease/(Increase) in debtors
(Decrease) in creditors
Net cash provided by operating activities		 Group
Group
2025
2024
£
£
160,110
134,838
140,276
141,618
(2,306)
(500)
-
(114)
16,819
(29,948)
98,601
(71,272)
12,643
4,256
426,143
178,878

39

Notes to the financial statements for the year ended 31 March 2025

THE FIFTH TRUST

(A company limited by guarantee) Registered number: 07262103

21 Analysis of cash and cash equivalents

Cash at bank and in hand
22
Analysis of changes in net debt
Cash at bank and in hand
Debt due within 1 year
Debt due after 1 year		 Group
Group
2025
2024
£
£
898,910
541,433
At 1 April
At 31 March
2024
2025
£
£
£
541,433
357,477
898,910
(13,642)
(71)
(13,571)
(26,384)
(13,051)
(13,333)
Cash
flows		 Group
Group
2025
2024
£
£
898,910
541,433
501,407
344,355
872,006

23 Pension commitments

The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £49,711 (2024 - £32,035). Contributions totalling £9,678 (2024 - £7,014) were payable to the fund at the balance sheet date and are included in creditors.

24 Operating lease commitments

As at 31 March 2025 the Group and the Charity had commitments to make future minimum lease payments under non-cancellable operating leases as follows:

Within 1 year
More than 1 year but less than 5 years		 Group
Group
Charity
Charity
2025
2024
2025
2024
£
£
£
£
24,750
29,273
14,500
19,600
21,875
21,500
7,000
21,500
46,625
50,773
21,500
41,100

25 Related party transactions

There were no related party transactions during the year.

40

Notes to the financial statements for the year ended 31 March 2025

THE FIFTH TRUST

(A company limited by guarantee) Registered number: 07262103

26 Principal subsidiaries

Names Company Registered Principal Class of Holding Consolidation
number office or activity share
principal
place
The Vineyard 06772993 Elham Valley To provide a Ordinary 100% Yes
Garden Road, garden centre
Centre Ltd Barham, service that
Canterbury, serves to improve
Kent, CT4 the impact that
6LN the charity can
have on its
students.
The Vineyard 07324002 Elham Valley To provide a Ordinary 100% Yes
Teashop Ltd Road, teashop service
Barham, that serves to
Canterbury, improve the
Kent, CT4 impact that the
6LN charity can have
on its students.
The Fifth 12927260 Elham Valley To provide day Ordinary 100% Yes
Care Services Road, care services
Ltd Barham, that serves to
Canterbury, improve the
Kent, CT4 impact that the
6LN charity can have
on its students.

The financial results of the subsidiaries for the period were:

Profit
for
Income Expenditure the period Net assets
Names £ £ £ £
The Vineyard Garden Centre Ltd 579,140 576,919 2,221 127,987
The Vineyard Teashop Ltd 195,657 178,590 17,067 8,259
The Fifth Care Services Ltd 1,256,027 850,017 406,010 406,030

41

notes 42

notes 43

The Fifth Trust Elham Valley Vineyard Elham Valley Road Breach Barham Canterbury CT4 6LN

01227 832022 www.fifthtrust.co.uk thefifthtrust thefifthtrust

Supporting adults with learning disabilities