REGISTERED COMPANY NUMBER: 07030358 (England and Wales) REGISTERED CHARITY NUMBER: 1139874
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
FOR
THE LIVING EARTH LAND TRUST
Bronsens Chartered Certified Accountants Eden House Two Rivers Business Park Witney Oxfordshire OX28 4BL
THE LIVING EARTH LAND TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
| Page | ||
|---|---|---|
| Reference and Administrative Details | 1 | |
| Report of the Trustees | 2 | |
| Independent Examiner's Report | 3 | |
| Statement of Financial Activities | 4 | |
| Balance Sheet | 5 | |
| Notes to the Financial Statements | 6 to | 9 |
| Detailed Statement of Financial Activities | 10 |
THE LIVING EARTH LAND TRUST
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 AUGUST 2023
TRUSTEES Mr A C H Gordon OBE Mrs H Kippax Mr I K Clements COMPANY SECRETARY Mr I K Clements REGISTERED OFFICE Ruskin Mill Old Bristol Road Nailsworth Gloucestershire GL6 0LA REGISTERED COMPANY 07030358 (England and Wales) NUMBER REGISTERED CHARITY 1139874 NUMBER INDEPENDENT EXAMINER Bronsens Chartered Certified Accountants Eden House Two Rivers Business Park Witney Oxfordshire OX28 4BL
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THE LIVING EARTH LAND TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2023. The trustees have adopted the provisions of 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
Objectives and aims
The charity's objects are for the public benefit and are:
(a) To promote for the benefit of the public the conservation, protection, improvement and sustainability of the physical and natural environment, particularly but not exclusively, by using Rudolf Steiner's methods to promote biodynamic agriculture and horticulture, including research (the useful results of which will be disseminated for the public benefit);
(b) To advance the education of the public in the conservation, protection and improvement of the physical and natural environment;
(c) The advancement of the education of the public by providing or assisting in the provision of an experimental and practical skills orientated education in association with schools and institutions, including those for young people with special educational needs, operating in whole or in part in accordance with the principles of Rudolf Steiner.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the year, the Charity leased Upper Grange, its property in Stroud, to Ruskin Mill Trust to be used by students of Ruskin Mill College for educational and residential purposes, and by Ruskin Mill Trust as a Training Centre for the delivery of courses for staff and the public, including:
-
Homemaking (Holistic Support & Care)
-
Holistic Practices in Nutrition
-
Step by Step Gardening
FINANCIAL REVIEW
Reserves policy
The financial position of the Trust remains sound and the Trustees confirm that reserves are adequate to fulfil present obligations.
FUTURE PLANS
The trustees plan to continue using Upper Grange both for its current purposes and for the delivery of new courses and trainings in line with the Charity's Objects.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Approved by order of the board of trustees on 15 April 2024 and signed on its behalf by:
Mr A C H Gordon OBE - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE LIVING EARTH LAND TRUST (REGISTERED NUMBER: 07030358)
Independent examiner's report to the trustees of The Living Earth Land Trust ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Philip Burton BSc FCA
Bronsens Chartered Certified Accountants Eden House Two Rivers Business Park Witney Oxfordshire OX28 4BL
15 April 2024
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THE LIVING EARTH LAND TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023
| 31.8.23 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Investment income 2 49,700 EXPENDITURE ON Other 23,806 NET INCOME 25,894 RECONCILIATION OF FUNDS Total funds brought forward 725,783 TOTAL FUNDS CARRIED FORWARD 751,677 |
31.8.22 Total funds £ 41,406 |
|---|---|
| 8,513 | |
| 32,893 692,890 |
|
| 725,783 |
The notes form part of these financial statements
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THE LIVING EARTH LAND TRUST (REGISTERED NUMBER: 07030358)
BALANCE SHEET 31 AUGUST 2023
| Notes FIXED ASSETS Tangible assets 5 CURRENT ASSETS Debtors 6 Cash at bank CREDITORS Amounts falling due within one year 7 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 9 Unrestricted funds: General fund TOTAL FUNDS |
31.8.23 Unrestricted fund £ 650,000 27,337 85,579 112,916 (11,239) 101,677 751,677 751,677 751,677 751,677 |
31.8.22 Total funds £ 650,000 1,515 95,910 97,425 (21,642) 75,783 725,783 725,783 725,783 725,783 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 15 April 2024 and were signed on its behalf by:
Mr A C H Gordon OBE - Trustee
The notes form part of these financial statements
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THE LIVING EARTH LAND TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Freehold properties are not depreciated as the trustees consider that the present value of future income exceeds their book value..
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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continued...
THE LIVING EARTH LAND TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023
2. INVESTMENT INCOME
| 31.8.23 £ Rents received 49,700 3. SUPPORT COSTS Governance Management costs £ £ Other resources expended 4,652 19,154 Support costs, included in the above, are as follows: 31.8.23 Other resources expended £ Insurance 4,652 Interest payable and similar charges - Accountancy fees 1,200 Legal and consultancy fees 15,848 Bookkeeping costs 1,920 Bank charges 186 23,806 |
31.8.22 £ 41,406 Totals £ 23,806 31.8.22 Total activities £ 4,236 667 1,500 - 1,900 210 8,513 |
|---|---|
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022.
5. TANGIBLE FIXED ASSETS
| COST At 1 September 2022 and 31 August 2023 NET BOOK VALUE At 31 August 2023 At 31 August 2022 |
Freehold property £ 650,000 650,000 650,000 |
|---|---|
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continued...
THE LIVING EARTH LAND TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023
6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade debtors VAT Prepayments 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Payments on account Trade creditors Other creditors Accrued expenses |
31.8.23 £ 25,838 343 1,156 27,337 31.8.23 £ - 913 6,701 3,625 11,239 |
31.8.22 £ - 343 1,172 |
|---|---|---|
| 1,515 | ||
| 31.8.22 £ 13,099 342 6,701 1,500 |
||
| 21,642 |
8. SECURED DEBTS
Triodos Bank holds a first legal mortgage dated 24 August 2012 over the freehold property known as Upper Grange, Lovedays Mead, Stroud, Gloucestershire, GL5 1XB. In addition the right of set-off for any liability exists against any other accounts held with Triodos Bank by Living Earth Land Trust.
9. MOVEMENT IN FUNDS
| Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS |
At 1.9.22 £ 725,783 725,783 Incoming resources £ 49,700 49,700 |
Net movement At in funds 31.8.23 £ £ 25,894 751,677 25,894 751,677 Resources Movement expended in funds £ £ (23,806) 25,894 (23,806) 25,894 |
|---|---|---|
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THE LIVING EARTH LAND TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023
9. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.9.21 £ Unrestricted funds General fund 692,890 TOTAL FUNDS 692,890 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 41,406 TOTAL FUNDS 41,406 |
Net movement At in funds 31.8.22 £ £ 32,893 725,783 32,893 725,783 Resources Movement expended in funds £ £ (8,513) 32,893 (8,513) 32,893 |
|---|---|
10. RELATED PARTY DISCLOSURES
The charity leases part of the Upper Grange property to Ruskin Mill Trust, a related charity. During the year the charity charged rent of £49,700 (2022 - £41,066) to Ruskin Mill Trust. As at 31 August 2023 Ruskin Mill Trust owed £25,838 (2022 - £13,099 was paid on account and included in creditors). The charity holds a rent deposit of £6,701 (2022 - £6,701), which is included in other creditors.
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THE LIVING EARTH LAND TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023
| 31.8.23 | 31.8.22 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Investment income | ||
| Rents received | 49,700 | 41,406 |
| Total incoming resources | 49,700 | 41,406 |
| EXPENDITURE | ||
| Support costs | ||
| Management | ||
| Insurance | 4,652 | 4,236 |
| Other | ||
| Bank loan interest | - | 667 |
| Governance costs | ||
| Accountancy fees | 1,200 | 1,500 |
| Legal and consultancy fees | 15,848 | - |
| Bookkeeping costs | 1,920 | 1,900 |
| Bank charges | 186 | 210 |
| 19,154 | 3,610 | |
| Total resources expended | 23,806 | 8,513 |
| Net income | 25,894 | 32,893 |
This page does not form part of the statutory financial statements
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