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2025-08-31-accounts

Company registration number 06741463 (England and Wales) Charity registration number 1139632 (England and Wales)

THE SCHOOL OF ARTISAN FOOD

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

THE SCHOOL OF ARTISAN FOOD

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees and Directors Alison Swan Parente
Daniel Jessel
Susan Amaku
Nicholas Hatton
Fran Warde
Hilary Hamer
Susan Jones (Appointed 3 February 2025)
Trustee Joe Schneider
Secretary Sarah Andrew
Charity number 1139632
Company number 06741463
Registered office Lower Motor Yard
Welbeck
Worksop
Nottinghamshire
S80 3LR
Auditor Affinia Limited
1 Parkshot
Richmond
Surrey
TW9 2RD
Bankers NatWest
Worksop Branch
69 Bridge Street
Worksop
S80 1DJ

THE SCHOOL OF ARTISAN FOOD

CONTENTS

Page
Trustees' report 1 - 7
Independent auditor's report 8 - 10
Statement of financial activities 11
Balance sheet 12
Statement of cash flows 13
Notes to the financial statements 14 - 27

THE SCHOOL OF ARTISAN FOOD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2025

The Board of Trustees, all but one of whom are also directors for the purposes of company law, present their report for the year.

Reference and Administrative Information

The School of Artisan Food is a company limited by guarantee (registration number 06741463) with charitable status (registered charity number 1139632).

Reference and administrative information are set out above and form part of this report. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and 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).

Objectives and activities

The School of Artisan Food was founded in 2009 as a not-for-profit company. It became a registered charity on 31 December 2010. The School is a unique, open-minded organisation, dedicated to food education, not only artisan food production skills but also how our food choices can best support both human and planetary health. The School of Artisan Food and its programmes serve as broad and diverse a range of people as possible through initiatives to widen participation including fundraising for and administrating bursary schemes and working with 3rd sector and other not-for-profit partners. Artisan is a term used to describe food produced by non-industrialised methods, often with a strong heritage but now in danger of being lost. Tastes and processes, such as fermentation, are allowed to develop slowly and naturally, rather than curtailed for mass-production. Hands-on making features throughout The School’s work whether it be with secondary-aged children, higher education students, enthusiasts or professionals.

Located on the Welbeck Estate in Nottinghamshire, The School offers the opportunity for people of all skill levels, regardless of their socioeconomic circumstances, to expand their knowledge and improve their employability and social mobility through a wide range of courses including: Bread making and Patisserie, Business and Entrepreneurship, Butchery and Charcuterie, Cheese making, Ice Cream making, Foraging and Preserving.

For those wishing to become professional bakers, The School offers a unique full-time Higher Diploma in Artisan Baking and Business Skills, which equips students with the essential baking competencies and business knowledge needed to launch a successful artisan bakery, to work in the baking industry or to manage a bakery enterprise.

In September 2019, The School of Artisan Food began enrolling students onto the UK’s first foundation degree (FdSc) in Artisan Food Production degree, a two-year programme delivered in partnership with Nottingham Trent University. In September 2024, The School welcomed its first students, including overseas students, on its newly validated three-year BSc (Hons) in Artisan Food Production. This important development for The School has broadened access to our higher education provision, including from overseas, building on the world class reputation The School has.

As a charity, The School of Artisan Food works with a wide range of voluntary organisations, schools, colleges and community groups to provide opportunities to inspire food learning and teach both food literacy and artisan food production skills. As a part of this work The School launched Best Food Forward in 2022, initially as a three-year project to deliver food education to Schools and Healthcare professionals. Best Food Forward has gone from strength to strength, now extending beyond the life of the initial funding and growing to embrace food education advocacy at a national level, work with other charities, with SEND-specific settings and more.

The School of Artisan Food is a place where people come to learn, to share and to be inspired. The School is frequently described as transformational for individuals, enabling them to use and directly benefit from the skills they have learnt, to seek out and to support artisan producers and suppliers, and to share their experience with others.

THE SCHOOL OF ARTISAN FOOD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Our aims are to:

Achievement of these aims will further the legal purposes of the charity for public benefit.

Our business-specific aims are to:

Achievement of these business-specific aims will ensure the ability of the charity to continue and to provide public benefit in the future, and will support the achievement of the charity’s main aims.

Our values

At The School of Artisan Food, students are taught by highly skilled and experienced tutors and artisan food producers who share their skills, knowledge and expertise; they are committed to ensuring that the next generation can learn from their experience. In the face of growing interest in preventative health and slow but steady recognition of the important role food plays in social cohesion and the celebration of cultural diversity, government advisors, health professionals and an increasing number of public bodies have begun to realise the true potential of high-quality food education. Emphasis on a farm-to-fork philosophy, local sourcing of seasonal food, the avoidance of waste, skills-based, hands-on food production techniques and developing the confidence to produce quality products from ingredients are central to The School of Artisan Food’s vision. The School of Artisan Food recognises cultural, economic and psychological barriers to eating well and engages in dialogue and debate about these issues, where possible seeking to break down these barriers.

Review of the year

In 2024-25 work has been undertaken to articulate and refresh the organisation’s vision, mission and brand strategy to reinforce alignment with the School’s charitable purpose and strategic direction.

The core activities of The School of Artisan Food are delivered across three intertwined strategic pillars of impactful activity:

Experience, Engage and Equip, under the umbrella of food education.

Notable activities in the year included:

THE SCHOOL OF ARTISAN FOOD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Experience: Short courses

The School delivered just short of 200 days of planned short courses, to nearly 1,500 participants during 2024-25. Commercial performance was closely scrutinised, with trustees noting vastly improved pressure on year-on-year income with significantly higher course fill rates on the back of refinements to delivery approach. Bespoke and partnership activities were co-designed with a range of organisations and our bespoke planning and delivery was overhauled to streamline the process and to improve affordability and delivery for charitable and 3[rd] sector organisations including schools, colleges and universities.

Engage: The Best Food Forward Programme, food education advocacy, partnerships, work experience and

more

During the 2024-25 reporting period, The School’s social impact-focussed activity included the continued delivery of the Best Food Forward programme, evolution and development of our schools partnerships, healthcare training, and advocacy for improved access to quality, equitable food education across English secondary schools and national dissemination activity. Key activities included:

THE SCHOOL OF ARTISAN FOOD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Equip: Higher Diploma in Artisan Baking and Business Skills and FdSc and BSc (Hons) Artisan Food Production

Trustees receive regular detailed updates on higher education and validated provision, including recruitment, progression, completions, external quality assurance, employer engagement and student employability outcomes throughout the year.

A full Higher Diploma programme was delivered during 2024-25 to 16 students, one of whom temporarily withdrew to return in Autumn 2026. Example destinations for alumni from this cohort include opening a cookery school in Scotland, setting up artisan bakeries (x4) and working as a baker or pastry chef (x3). One student went on to deploy their baking skills in a charitable context with a focus on community wellbeing and mental health. The external quality assurer for the award, FDQ, once again completed their inspection and confirmed the Diploma meets the required standards. Recruitment for the Diploma continues to be strong given the high quality of teaching and the employment opportunities available.

The School of Artisan Food welcomed its sixth cohort of students enrolling on the FdSc in Artisan Food Production qualification in September 2024, this time joined by our first cohort of year one (level 4) BSc students (7 in total, of which 4 joined us from overseas). We enrolled 17 students in FdSc year one (level 4), 1 of whom withdrew during the academic year. Nine students progressed onto year two of the FdSc (level 5). Five level 5 completers chose to top up their award, joining the BSc Food Science programme at NTU.

In February 2025, we were delighted to successfully progress the FdSc through a periodic review process to assure the ongoing currency and relevance of this qualification.

Fundraising

The School is grateful to charitable trusts including The Barbara Curtis Charitable Trust, Artemisa Foundation, the Welbeck Bakehouse, Bawtry Farms, The Edith Murphy Foundation, The Lady Hind Trust, The Linbury Trust, Walk Notts Festival, BCVS, and The Whittaker Trust who have contributed towards student bursaries and other charitable activities.

The School of Artisan Food would also like to recognise ongoing support from The Welbeck Estates Company Limited and from Bolsover Properties Limited.

Staff

The School has a dedicated team who collectively deliver a first-class experience to our students and partners. Led during the year under review by Jenny Paxman, Chief Executive Officer, who joined The School in Sept 2024, each member of the team regularly goes above and beyond and the trustees wish to place on record their thanks and appreciation for all their efforts.

THE SCHOOL OF ARTISAN FOOD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Risk management

The Trustees have examined the major risks to which The School of Artisan Food is exposed and confirm that strategic planning and systems have been established to mitigate against these risks. Procedures are also in place to ensure compliance with health and safety regulations for staff, students, volunteers and visitors to the school.

The risk register has been substantially overhauled and is periodically reviewed by Trustees. The risk register identified that student/ guest accommodation warrants investment for improvements to be made and trustees are committed to ensuring this is prioritised in the early part of the forthcoming year. Associated process modernisation is also recommended. Ongoing fluctuations in the market pricing of ingredients and fossil fuels, as well as rises in minimum wage and National Insurance contributions are of concern and the associated financial risk to the charity is carefully considered via strong governance.

Health and safety, fire and food hygiene risks are managed by through the appropriate registration and accreditations and embedding robust policies and procedures. During 2024-255 The School saw reduced reported accidents, no RIDDOR or HSE-reportable incidents, and a clear focus on embedding a stronger safety culture through staffing, systems and training (food hygiene, health, safety and EEDI). Trustee training in EEDI was also rolled out across the Board.

Cybersecurity concerns in light of increasing numbers of high-profile cases have prompted The School to review IT provisioning and seek to secure cybersecurity kitemarking over the forthcoming year.

Public Benefit statement

The Trustees, having regard to the Public Benefit guidance published by the Charity Commission in accordance with section 17 of the Charities Act 2011, consider that the purpose and activities of the company satisfy the requirements of the public benefit test set out in section 4 of the same Act. In particular, The School:

Iterative forward-looking discussions throughout the year, focused on financial resilience, infrastructure readiness, staffing capacity and governance ensure the charity remains sustainable and able to deliver public benefit for the future.

Financial review

In order to retain comprehensive financial oversight trustees review cash flow, accounts and budget planning throughout the year. The implementation of improved financial systems remains a priority in order to streamline our financial management and remain agile

Incoming resources of £1,961,790 (2024 - £1,586,556) were generated during the year and there was expenditure of £1,815,011 (2024 - £1,696,581) resulting in a net income for the year of £146,779 (2024 - net expenditure of £110,025).

At the end of the reporting period, the charity reported a total fund of £751,040 (2024 - £604,261), of which £395,877 (2024 – £441,282) was restricted and £355,163 (2024 – £162,979) was unrestricted.

The Trustees have assessed the charity’s ability to continue as a going concern for at least 12 months from the date these

accounts were approved. They have concluded that the charity has the ability to continue and as such the accounts are prepared on a going concern basis. This conclusion is based on available resources and committed future donations. The Trustees have made plans to deal with the current situation as much as it is possible, as summarised in the Trustees Report, and believe the charity has sufficient cash resources to meet all its liabilities falling due within 12 months of the date these accounts were approved.

THE SCHOOL OF ARTISAN FOOD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Reserves

Reserves are split between three funds:

Structure, governance and management

The Trustees (all but one of whom are also the directors of the company from a company law perspective) are responsible for preparing the Trustees’ Report and financial statements in accordance with applicable law and regulations.

Company law requires the Trustees to prepare the financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company 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 company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

So far as each Trustee is aware, there is no relevant information that has not been disclosed to the Company’s auditors and each Trustee believes that all steps necessary have been taken that ought to have been taken to make them aware of any relevant audit information and to establish that the Company’s auditors have been made aware of that information.

THE SCHOOL OF ARTISAN FOOD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Report of the Trustees

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s Memorandum and Articles of Association and UK Generally Accepted Accounting Practice. This Trustees’ report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

Governance and leadership

The School of Artisan Food is governed by its Memorandum and Articles of Association. Its Trustees meet quarterly and more frequently if required. Day to day management is undertaken by a core team led by the CEO. Regular updates on staffing were provided to the Board, with notable key appointments strengthening leadership, operations and health and safety capacity.

Throughout the year, leadership have led an overhaul of workforce culture and wellbeing, building on positive results from staff engagement surveys to further improve staff engagement and satisfaction. Pay and reward arrangements were examined in detail, with trustees reviewing sector benchmarking, inflationary pressures and affordability, within the context of financial sustainability.

Recruitment and appointment of Trustees

The directors of the company are also charity Trustees for the purposes of charity law, with one exception (see legal and administrative information).

Trustee induction and training

Potential Trustees meet with the Chair of Trustees and one other trustee for a discussion about The School of Artisan Food’s work and the interaction between the staff and Trustees. They are invited to join a full Board meeting and to meet with other Trustees. Once Trustees have been invited to join the Board, they are provided with a full information pack and regular updates from the CEO including financial reports and details of the activity of the school. Regular meetings are held between the Chair of Trustees and CEO, and all Trustees are invited regularly to events and presentations.

Auditor

In accordance with the company's articles, a resolution proposing that Affinia Limited be reappointed as auditor of the company will be put at a Quarterly Meeting.

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The trustees' report was approved by the Board of Trustees.

N Hatton Chair of Trustees

24 June 2026

THE SCHOOL OF ARTISAN FOOD

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE SCHOOL OF ARTISAN FOOD

Opinion

We have audited the financial statements of The School of Artisan Food (the ‘charity’) for the year ended 31 August 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including 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 other information comprises the information included in the trustees' annual report other than the financial statements and our auditor's report thereon. The trustees 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.

Opinions on other matters prescribed by the Companies Act 2006

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

THE SCHOOL OF ARTISAN FOOD

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE SCHOOL OF ARTISAN FOOD

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 directors' report included within 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 trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, 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 the trustees 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 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 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.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the charitable company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

THE SCHOOL OF ARTISAN FOOD

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE SCHOOL OF ARTISAN FOOD

Based on our understanding of the company and industry, and through discussion with the directors and other management, we identified that the principal risks were in relation to:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities, including fraud and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the director and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// 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 charitable company’s 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 charitable company’s members those matters we are required to state to them in an auditor’s 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 the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Annie Lee (Senior Statutory Auditor) for and on behalf of Affinia Limited 30 June 2026 Statutory Auditor 1 Parkshot Richmond Surrey TW9 2RD

THE SCHOOL OF ARTISAN FOOD

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 AUGUST 2025

Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income and endowments from:
Donations and legacies
2
324,591
435,061
Charitable activities
3
1,167,759
-
Investments
4
-
-
Other income
5
34,379
-
Total income
1,526,729
435,061
Expenditure on:
Charitable activities
6
1,375,320
439,691
Total expenditure
1,375,320
439,691
Net income/(expenditure)
151,409
(4,630)
Transfers between
funds
40,775
(40,775)
Net movement in
funds
8
192,184
(45,405)
Reconciliation of funds:
Fund balances at 1 September
2024
162,979
441,282
Fund balances at 31 August
2025
355,163
395,877		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
759,652
294,007
259,111
1,167,759
1,017,376
-
-
7,554
-
34,379
8,508
-
1,961,790
1,327,445
259,111
1,815,011
1,494,374
202,207
1,815,011
1,494,374
202,207
146,779
(166,929)
56,904
-
61,030
(61,030)
146,779
(105,899)
(4,126)
604,261
268,878
445,408
751,040
162,979
441,282		 Total
2024
£
553,118
1,017,376
7,554
8,508
1,586,556
1,696,581
1,696,581
(110,025)
-
(110,025)
714,286
604,261

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

THE SCHOOL OF ARTISAN FOOD

BALANCE SHEET

AS AT 31 AUGUST 2025

Notes
Fixed assets
Intangible assets
12
Tangible assets
13
Current assets
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within
one year
15
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
16
Net assets
The funds of the charity
Restricted income funds
18
Unrestricted funds
19		 2025
£
£
2,516
541,989
544,505
50,069
712,436
762,505
(285,354)
477,151
1,021,656
(270,616)
751,040
395,877
355,163
751,040		 2024
£
£
12,635
624,661
637,296
245,754
324,277
570,031
(293,739)
276,292
913,588
(309,327)
604,261
441,282
162,979
604,261

The financial statements were approved by the trustees on 24 June 2026

N Hatton

Chair of Trustees

Company registration number 06741463 (England and Wales)

THE SCHOOL OF ARTISAN FOOD

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2025

Notes
Cash flows from operating activities
Cash generated from/(absorbed by)
operations
21
Investing activities
Purchase of intangible assets
Purchase of tangible fixed assets
Investment income received
Net cash used in investing activities
Net cash generated from financing activities
Net increase/(decrease) in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2025
£
-
(5,533)
-		 £
393,693
(5,533)
-
388,160
324,277
712,436		 2024
£
£
(214,471)
(6,804)
(32,488)
7,554
(31,738)
-
(246,209)
570,486
324,277

THE SCHOOL OF ARTISAN FOOD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

Charity information

The School of Artisan Food is a private company limited by guarantee incorporated in England and Wales. The registered office is Lower Motor Yard, Welbeck, Worksop, Nottinghamshire, S80 3LR.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, The principal accounting policies adopted are set out below.

1.2 Going concern

The Trustees have assessed the charity’s ability to continue as a going concern for at least 12 months from the date these accounts were approved. They have concluded that the charity has the ability to continue and as such the accounts are prepared on a going concern basis. This conclusion is based on available resources and committed future donations. The Trustees have made plans to deal with the current situation as much as it is possible, as summarised in the Trustees Report, and believe the charity has sufficient cash resources to meet all its liabilities falling due within 12 months of the date these accounts were approved.

1.3 Charitable funds

Unrestricted funds represent sums held by the charity for charitable purposes that are not subject to any restrictions as to how the funds can be used.

Restricted funds represent sums given to the charity subject to restrictions as to how the funds can be used.

1.4 Income

Income is credited on an accruals basis, with the exception of donation and legacy income. Course fees are credited to income in the period in which the courses are provided. Diploma course income is recognised net of bursaries as these are given to diploma students in the form of a reduction in course fees. Foundation degree income is credited to income over the duration of the course provided. Donation income is recognised when there is entitlement to the funds and receipt is probable.

Gift Aid recovered on donations and bursaries is treated as part of that gift and as an addition to the same fund as the initial donation or bursary unless the donor has specified otherwise.

Donated goods are recognised as donation income when the charity has control over the donated goods and has satisfied any performance related conditions attached to the donation. Income associated with donated goods is measured as the fair value of the goods received.

Donated facilities and services are recognised as donation income once the charity has received the service and has satisfied any performance related conditions attached to the donation. Income associated with donated facilities and services is measured as the amount the charity would pay on the open market for an alternative item that would provide an equivalent benefit.

THE SCHOOL OF ARTISAN FOOD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

(Continued)

1.5 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 are allocated on the portion of the asset’s use.

1.6 Intangible fixed assets other than goodwill

Intangible assets are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website Over 3 years

1.7 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Short leasehold land and buildings Over 25 years
Plant and equipment Over 5 years
Fixtures and fittings Over 5 years
Office equipment Over 3 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

THE SCHOOL OF ARTISAN FOOD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

(Continued)

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Government grants

Where government grants in respect of the purchase of tangible fixed assets have conditions attached outside the control of the charity, the grants have been recognised as deferred income when received. This is amortised at rates calculated to write off the deferred grant income evenly over the expected useful life of the assets purchased.

THE SCHOOL OF ARTISAN FOOD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

2 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2025
2025
£
£
Donations and gifts
276,632
394,286
Grants
47,959
40,775
324,591
435,061		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
670,918
256,952
198,081
88,734
37,055
61,030
759,652
294,007
259,111		 Total
2024
£
455,033
98,085
553,118

Bursaries are provided to subsidise the costs of the diploma courses for a select number of students each year. In 2025 the number of students benefitting from a bursary was 2 (2024: 5). The bursaries provided to students in 2025 totalled £40,775 (2024: £61,030) which can be seen in the accounts as a transfer from the restricted bursary fund to the general fund.

Donation income includes £ Nil (2024: £Nil) in relation to donated goods in the form of plant and equipment. There are no unfulfilled conditions attached to the resources donated.

Donation income includes £219,969 (2024: £185,855) in relation to donated facilities and services in the form of the use of offices and premises. There are no unfulfilled conditions attached to the services donated.

Donation income includes £Nil (2024: £Nil) in relation to donated consumables. There are no unfulfilled conditions attached.

3 Charitable income

**Education ** BFF Project Total **Education ** BFF Project Total
2025 2024
2025 2025 2024 2024
£ £ £ £ £ £
Sale of courses 1,004,543 163,216 1,167,759 845,347 172,029 1,017,376

4 Income from investments

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Interest receivable - 7,554

THE SCHOOL OF ARTISAN FOOD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

5 Other income

Miscellaneous income
Charitable expenditure
Education BFF Project
2025
2025
£
£
Charitable expenditure
473,080
153,857
Share of support costs
(see note 7)
1,138,957
31,772
Share of governance
costs (see note 7)
17,345
-
1,629,382
185,629
Analysis by fund
Unrestricted funds
1,375,320
-
Restricted funds
254,062
185,629
1,629,382
185,629		 Unrestricted Unrestricted
funds
funds
2025
2024
£
£
34,379
8,508
Total
2025
Education BFF Project
Total
2024
2024
2024
£
£
£
£
626,937
442,552
166,992
609,544
1,170,729
942,904
120,151
1,063,055
17,345
22,870
1,112
23,982
1,815,011
1,408,326
288,255
1,696,581
1,375,320
1,402,626
91,748
1,494,374
439,691
5,700
196,507
202,207
1,815,011
1,408,326
288,255
1,696,581		 Unrestricted Unrestricted
funds
funds
2025
2024
£
£
34,379
8,508
Total
2025
Education BFF Project
Total
2024
2024
2024
£
£
£
£
626,937
442,552
166,992
609,544
1,170,729
942,904
120,151
1,063,055
17,345
22,870
1,112
23,982
1,815,011
1,408,326
288,255
1,696,581
1,375,320
1,402,626
91,748
1,494,374
439,691
5,700
196,507
202,207
1,815,011
1,408,326
288,255
1,696,581
Total
2024
£
609,544
1,063,055
23,982
1,696,581
1,494,374
202,207
1,696,581

6 Charitable expenditure

THE SCHOOL OF ARTISAN FOOD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

7 Support costs

Staff costs
Depreciation
Premises
Marketing
Travel and subsistence
Legal and professional
Bank charges
Office costs
Audit fees
Accountancy fees
Analysed between
Charitable activities		 Support
costs
Governance
costs
2025
2025
£
£
519,556
-
98,325
-
426,834
-
550
-
3,713
-
72,268
-
8,979
-
48,333
-
-
14,195
-
3,150
1,178,558
17,345
1,178,558
17,345		 Total
2025
£
519,556
98,325
426,834
550
3,713
72,268
8,979
48,333
14,195
3,150
1,195,903
1,188,074		 Support
costs
Governance
costs
2024
2024
£
£
464,880
-
107,680
-
387,331
-
18,148
-
532
-
29,908
-
8,843
-
45,733
-
-
18,553
-
5,429
1,063,055
23,982
1,063,055
23,982		 Total
Basis of allocation
2024
£
464,880
Staff time
107,680
Usage
387,331
Floor area
18,148
Usage
532
Usage
29,908
Usage
8,843
Transactions
45,733
Staff time
18,553
Direct
5,429
Direct
1,087,037
1,087,037

Governance costs include payments to the auditors of £14,195 (2024: £18,553) for audit fees.

THE SCHOOL OF ARTISAN FOOD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

8 Net movement in funds 2025 2024
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements 14,195 18,553
Depreciation of owned tangible fixed assets 88,206 88,201
Amortisation of intangible assets 10,119 19,479

THE SCHOOL OF ARTISAN FOOD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

9 Trustees

During the year the following transactions took place with Trustees:-

Trustee Alison Swan Parente made donations to the charity totalling £450 (2024 - £6,995) and the charity made sales of £365 (2024 - £511) to her.

Trustee Nicholas Hatton made no donations to the charity (2024 - £Nil).

No Trustees were reimbursed (2024 – £Nil) in respect of travel expenses incurred.

No Trustees received any remuneration (2024 – no Trustees).

During the year the following transactions took place with entities related to Trustees:-

The Welbeck Estates Company Limited

(Trustee Alison Swan Parente is the wife of William Parente who is a director of the above-named company).

The charity paid rent to the company of £30,675 (2024 – £22,925). The company provided IT, management and property repair services to the charity of £48,893 (2024 - £79,330). The company recharged staff costs to the charity of £Nil (2024 - £6,669). The charity made sales to this company of £3,192 (2024 - £1,739) in the year. The deemed donation relating to the rent-free period on the charity’s premises totalled £219,969 (2024 - £215,589). At the balance sheet date, the total amount due to The Welbeck Estates Company Limited was £Nil (2024 - £3,123). At the balance sheet date, the total amount due from The Welbeck Estates Company Limited was £175 (2024 - £Nil).

The Welbeck Bakehouse Limited

(Trustee Alison Swan Parente is a director and the controlling shareholder of The Welbeck Bakehouse Limited.)

The charity received donations from this company of £23,000 (2024 - £16,000) The charity purchased goods from this company of £236 (2024 – £170). The charity made sales to this company of £678 (2024 - £2,113). The charity recharged IT, pension, utility and staff costs to this company of £39,686 (2024 - £40,400). At the balance sheet date, the total amount due from The Welbeck Bakehouse Limited was £3,639 (2024 - £7,126).

Stichelton Dairy Limited

(Trustee Joe Schneider is a director of the company).

The charity recharged staff costs to this company of £920 (2024 - £934). The charity made sales of £Nil (2024 - £848) to this company. At the balance sheet date, the total amount due to Stichelton Dairy Limited was £Nil (2024 - £112).

Other entities based at Welbeck

The charity made no sales (2024 - £Nil) and purchases of £1,792 (2024 - £1,806) to/from entities based on the Welbeck Estate. The charity recharged staff costs to these entities of £Nil (2024 - £628). The amount due to these entities at the year end was £Nil (2024 - £264).

THE SCHOOL OF ARTISAN FOOD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

10 Employees

The average monthly number of employees during the year was:

Employment costs
Wages and salaries
Social security costs
Other pension costs		 2025
Number
25
2025
£
535,229
46,045
13,761
595,035		 2024
Number
23
2024
£
437,958
38,092
10,520
486,570

The Trustees consider the key management personnel to comprise the Trustees and the Senior Leadership team. The total employment benefits including employer pension contributions and employer national insurance contributions of the Senior Leadership team were £50,869 (2024 - £82,055).

There were no employees whose annual remuneration was more than £60,000.

11 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

12 Intangible fixed assets

Intangible fixed assets
Cost
At 1 September 2024 and 31 August 2025
Amortisation and impairment
At 1 September 2024
Amortisation charged for the year
At 31 August 2025
Carrying amount
At 31 August 2025
At 31 August 2024		 Website
£
59,224
46,589
10,119
56,708
2,516
12,635

THE SCHOOL OF ARTISAN FOOD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

13
Tangible fixed assets
Short
leasehold land
and buildings
Plant and
equipment
Fixtures and
fittings
£
£
£
Cost
At 1 September 2024
1,591,658
313,397
104,341
Additions
-
-
-
At 31 August 2025
1,591,658
313,397
104,341
Depreciation and impairment
At 1 September 2024
1,027,160
288,854
84,612
Depreciation charged in the year
63,655
11,141
4,490
At 31 August 2025
1,090,815
299,995
89,102
Carrying amount
At 31 August 2025
500,843
13,402
15,239
At 31 August 2024
564,498
24,542
19,729
14
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
15
Creditors: amounts falling due within one year
Notes
Other taxation and social security
Deferred income
17
Trade creditors
Other creditors
16
Creditors: amounts falling due after more than one year
Notes
Deferred income
17		 Office
equipment
£
53,815
5,533
59,348
37,923
8,920
46,843
12,505
15,892
2025
£
8,409
5,568
36,092
50,069
2025
£
16,734
193,560
45,719
29,341
285,354
2025
£
270,616		 Total
£
2,063,211
5,533
2,068,744
1,438,549
88,206
1,526,755
541,989
624,661
2024
£
7,350
4,199
234,205
245,754
2024
£
24,317
197,408
36,986
35,028
293,739
2024
£
309,327

THE SCHOOL OF ARTISAN FOOD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

17 Deferred income

Other deferred income
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Current liabilities
Non-current liabilities		 2025
£
464,176
2025
£
193,560
270,616
464,176		 2024
£
506,735
2024
£
197,408
309,327
506,735

THE SCHOOL OF ARTISAN FOOD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

17 Deferred income (Continued)
Movements in the year:
Deferred income at 1 September 2024 506,735 535,736
Released from previous periods (210,280) (205,454)
Resources deferred in the year 167,721 176,453
Deferred income at 31 August 2025 464,176 506,735

Grant income of £296,445, which was used to purchase certain fixed assets in accordance with accounting policy note 1.12, has been deferred to match the expected life of the fixed assets. The remaining deferred income of £167,721 relates to short courses to take place after the financial year end.

THE SCHOOL OF ARTISAN FOOD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

18 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Balance at
1 September
2023
r
£
Restricted Donations fund
445,408
Bursary fund
-
445,408		 Movement in funds
Incoming
esources
Resources
expended
Transfers
(Note:
Donations,
grants and
legacies)
Balance at
1 September
2024
r
£
£
£
£
198,081
(202,207)
-
441,282
61,030
-
(61,030)
-
259,111
(202,207)
(61,030)
441,282		 Movement in funds
Incoming
esources
Resources
expended
Transfers
(Note:
Donations,
grants and
legacies)
Balance at
31 August
2025
£
£
£
£
394,286
(439,691)
-
395,877
40,775
-
(40,775)
-
435,061
(439,691)
(40,775)
395,877		 Movement in funds
Incoming
esources
Resources
expended
Transfers
(Note:
Donations,
grants and
legacies)
Balance at
31 August
2025
£
£
£
£
394,286
(439,691)
-
395,877
40,775
-
(40,775)
-
435,061
(439,691)
(40,775)
395,877
395,877

THE SCHOOL OF ARTISAN FOOD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

19 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1
September
2024
Incoming
resources
Resources
expended
£
£
£
General funds
162,979
1,526,729
(1,375,320)
Previous year:
At 1
September
2023
Incoming
resources
Resources
expended
£
£
£
268,878
1,327,445
(1,494,374)
20
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
Total Unrestricted
funds
2025
2025
2025
2024
£
£
£
£
Fund balances at 31
August 2025 are
represented by:
Intangible fixed assets
2,516
-
2,516
12,635
Tangible assets
541,989
-
541,989
624,661
Current assets/(liabilities)
81,274
395,877
477,151
(164,990)
Long term liabilities
(270,616)
-
(270,616)
(309,327)
355,163
395,877
751,040
162,979
21
Cash generated from operations
Net income/(expenditure) for the year
Adjustments for:
Investment income recognised in statement of financial activities
Amortisation and impairment of intangible assets
Depreciation and impairment of tangible fixed assets
Movements in working capital:
Decrease/(increase) in debtors
(Decrease)/increase in creditors
(Decrease) in deferred income
Cash generated from/(absorbed by) operations		 Transfers At 31 August
2025
£
£
40,775
355,163
Transfers At 31 August
2024
£
£
61,030
162,979
Restricted
funds
Total
2024
2024
£
£
-
12,635
-
624,661
441,282
276,292
-
(309,327)
441,282
604,261
2025
2024
£
£
146,779
(110,025)
-
(7,554)
10,119
19,479
88,206
88,201
195,685
(197,162)
(4,537)
21,591
(42,559)
(29,001)
393,693
(214,471)