Docusign En¥ÈlopÈ ID". F9B216DD-0727-4433-97A2-8AAD37DA732E
REGISTERED CHARITY NUMBER: 1146739
Re
ort of the Trustees and
Audited Financial Statements for the Year Ended 30 June 2023
for
Shed Trust - Grou

Docusign En¥ÈlopÈ ID". F9B216DD-0727-4433-97A2-8AAD37DA732E
Shed Trust- Grou
Contents of the Financial Statements
for the Year Ended 30 June 2023
Page
Reference and Adminislralive Details
Report of the Trusteas
Statement of Trustees, Responsibilities
Report of the Independent Auditors
9 to 11
Slalemenl of Consolidated Financial Activities
12
Consolidated Balan￿ sheet
13
Charity Balan￿ Sheet
14
Consolidated Cash Flow Statement
15
Notes to the Financial Slal8menls
16 to 30
Consolidated Detailed Statement of Financial
Activities
31 10 32

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Shed Trust- Grou
Reference and Administrative Details
for the Year Ended 30 June 2023
TRUSTEES
H S Jones
DJCOX
PRINCIPAL ADDRESS
The Farmhouse
Biddenfield Lane
Shedfield
Southampton
Hampshire
S032 2HP
REGISTERED CHARITY
NUMBER
1146739
SNDEPENDENT AUDITORS Sumer Audit
Piper House, 4 Dukes Court
Bognor Road
Chlchester
P019 8FX

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Shed Trust - Grolt
ort of the Trustees
for the Year Ended 30 June 2023
The trustees present their rep￿t with the financial statements of the charity for the year ended
30 June 2023. The trustees have adopted the provisions of Accounting and Reporting by
Charities.. Statement of Recommended Practi￿ applicable lo charities preparing their
accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and
Republic of Ireland {FRS 102) leffeclive 1 January 2019).

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Shed Trust- Gro
Re
ort of the Trustees
for the Year Ended 30 June 2023
OBJECTIVES AND ACTIVITIES
Objectives and alms
Objects of the Ch8rity
The Trustees of Pig Shed Trust hold the Trust Fund and ils income upon trust to apply them
for all objects that are regarded as exclusively charitable under the law of England and Wales.
The Charlty Vlsion
Pig Shed Trust Is primarily focused on interventions that promote conservation and change
the natural envlronment for the beller. In partieular, the focus is on activities that will benefit
both wildlife and the people living with it. The interventions musl be smart, well-run projects
that use sound business principles to achieve measurable outcomes. Pig Shed Trust
undertakes projects itself and funds partner charities and organlsatlons lo run compatible
projects.
Objectives for 2022-23
Pig Shed Trust has focused on several key objectives over thls financial year..
1. Progress the internal scallop ranching project to develop a commercial size scallop farm
and hatchery
2. Implement planning and measurement into all grants and interventlons undertaken lo help
quantify the outcomes and impact
3. Support the local wildlife around Pig Shed Trust's home office in Hampshi
strategy for achieving the objectives
Pig Shed Trust has narrowed ils focus to mainly in house projects in order to achleve Ils
objectives. The objectives for 2022-23 remain unchanged from last year and the work
undertaken during this year builds on the foundations previously developed.
Strategy for Objective 1
The scallop project will lake a further loans out from Pig Shed Trust lo progress the cullivalion
of scallops ready for harvesting. With the construction of an in house hatchery the focus is
on producing sufficient output from the hatchery to keep the farm sile stocked.
Strategy for Objective 2
Planning and measurement is core lo Pig Shed Trust and all the projects use scientific rigour
and SMART planning lo ensure they achieve the best results possible.
Strategy for Objective 3
Pig Shed Trustwill continue lo look for interventions within the local countryside to best support
wildlife. This will involve working with the Hampshire and Isle of Wight Wildlife Trust and
managing Biddenfield Estate and South Holl Eslale lo actively enhance wildlife in and around
them.
Actlvltles
The Internal Scallop Ranch Project
Soallop Ranch Ltd {SRLI has continued to focus on managing scallop survivability along with
identifying modificalions to equipment lo help make the husbandry pro￿sseS mora efficient.

Docusign En¥ÈlopÈ ID". F9B216DD-0727-4433-97A2-8AAD37DA732E
Shed TnJsl- Grou
ort of the Trustees
for the Year Ended 30 June 2023
SRL continues to work with the University of Plymouth {UoPI to establish best practicos in
husbandry skills and better understand morialily.
SRL has continued lo sell scallops lo several pmcessors and achieved unil prices in line with
expec181ions, placing them on a par with dive caught prices.
The h8ld)ery built on the first years spat output of 1milllon, increasing lo over 2 million.
Further tanks were purchased to help provide more space for future years lo increase the
output again further.
Having locally produced spat. the Ir8nsportalion prO￿sS to the farm sile is much less
challenging resulting in higher survival levels identified al the first sea based interventions.
Further obs8twalions are underway to Tefine exactly when the best lime is lo pul the spal in
the water and this will inform future years production timellnes.
There has begun lo be interest in other organisations purcha8lng spal directly from the
hatchery and this is another revenue stream that will be explored during the ¢oming years
production.
SRL SUC￿$sfUllY secured a mussel water gr2ding for the farm site of the highest A grade
allowing the mussels that naturally sellle on the lines and nels lo be sold into the food chain.
Sales began through the year as well as plans lo manage the farm In future years to maximise
this line of revenue.
Supporting local Wildlife
Pig Shed Trust has completed the renovation work on all the properties at Biddenfield Eslale
and they are let out, helping to provide the eslale with the funds il needs lo further It's wildlife
objectives.
When PST first purchased Biddenfield Eslale, baseline Surveys were commissioned lo give a
beller understanding of the wildlife on the whole eslale and provide infom)81ion with which lo
manage il lo enhance the wildlife. Since then, the surveys have continued and remain an
important tool lo influence the interventions on the eslale. This approach will be applied lo
the new piece of land loo.
PST completed on South Holt Estate situated on the Hampshirelsussex border. This 1000
acr6 8s18te consists of a mixture of downland and planlalion forests.
During the early months on the Eslale, baseline suNeys have been undertaken similar to al
Biddenfield to help measure progress and inform decisions for enhancing the wildlife there.
In addition, forestry permit5 were obtained lo remove the plantations lo revert the landscape
back lo native species. The wood from the plantations has been sold to local saw mills with
the revenue received for il put towards supporting the efforts of managing the Estate for the
benefit of wildlife.
Plannlng and Measurement
Pig Shed Trust continues lo use planning and measurement in all of its projects and this is
demonstrated through the engagement of surveys from external experts and working with
Plymouth University lo apply scientific rigour to processe5 in order to drive improvements.

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Shed Trust- Grou
Re
ort of the Trustees
for the Year Ended 30 June 2023
Volunteers
Pig Shed Trust has one Trustee who volunteers to work for the trust on a virtually full lime
basis and who manages the day-to-day activities and commitments of the Trust.
FINANCIAL REVIEW
Financial position
The Charity's funding has mainly come from a donation from Harvey Jones and investment
income.
Full details of the application of funds and movement in resources for the Charity are given in
the Statement of Financial Activities on page 14. All assets are held In furtherance of the
objects of the Charity. The financial slalements comply with current statutory requirements
and with the Charity's governing document.
Pig Shed Trust does not have any pension or employment liabilities and therefore reserves
are required lo meet any of the following evenlualilies..
The risk of an unforeseen emergency
Long term commitments lo grants beyond 1 year
To meet the Trust's objectives of future years
Professional services, such as legal or accounting associ8ted with any problems the Trust may
encounter
Pig Shed Trust holds funds capable of financing the above eventualities and will continue to
do so. If there are any significant changed to the way that Pig Shed Trust operates. the above
list of reserve elements will be review and sufficient funds will be kept in reserve lo meet any
additional eventU81ilias.
Pig Shed Trust has Continued its funding activities with its core wojecls, building on the
previous years aclivilies.
The grants and loans made this year fom) part of Pig Shed Trusts long-temi objectives and it
is hoped that if the outcomes are successful, the same focus will continue in years to come.
FUTURE PLANS
The plan for the following year is to build on the projects and relationships that have flourished
during this year. From this. the key areas of focus wll be..
Grow multiple inoome streams from the scallop project and make il commorcially viable
Enhance the estate management pl8nS to deliver the maximum wildlife benefit and maintain
a perpetual income Sour￿ using the estate's assets lo support the estate work
Establish South Holl Farm base line surveys and begin managing the estate with wildlife
as the focus, again developing a perpetual income source using the estate's assets lo support
its ongoing management
Active reviews of the gr8ntlproj8cI outcomes
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governlng document
The charity is controlled by ils governing document, a deed of trust and conslitules an
unincorporated charity.

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Pl Shed Trust- Grou
Re
ort of the Truslees
for the Year Ended 30 June 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Charlty constitution
How Pig Shed Trust is sel up
Pig Shed Trust is govemed by a Irusl deed and Is constiluled as a charity.
Appointment of new Trustees
11 is the responsibility of the trustees lo appoint a new trustee and this will be done as and
when il is agreed by the serving Injstees that there is a requirement. Any proposed trustee
must not have been disqualified from acting as a trustee before and be aged 18 or over.
There have been no appointments during this financial year.
Induction and training of Trustees
On the appointment of a new trustee, they will be made aware of the Charities Commission
"The Essential Trustee.. What you need to know ICC31" document, famlliarised with it. trained
in any areas they are not familiarwilh and expected to undertake the duties and responsibilities
as sel out in it.
Organisalional Structure
Pig Shed Trust does not directly employ anylJ)dy and relies on the active engagement of ils
trustees in a volunteer capacity. Where specialist and professional services are required,
they are contracted in. The Iruslees, in line with the main objectives and vision of the charity
make all financial and strategic decisions.
Relationships with other charities and organisalions
Part of the aims of Pig Shed Trust are lo provide grant funding to other charitable organisations
lo help them pursue their objectives that in turn broadly enhance the vision and objectives of
Pig Shed Trust.
Major Risks lo the Charity
There are very few major risks identified by the Iruslees however, where engagement with
third parties lakes place. suitable contracts are put in place to help manage and reduce any
apparent risks.
Approved by order of the board of Iruslees on 29 April 2024 and signed on ils behalf by-
H S Jones- Trustee

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I Shed Trust - Grou
Statement of Trustees. Res
onsibilities
for the Year Ended 30 June 2023
The Iruslees are responsible for preparing the Report of the Trustees and the financial
slalemenls in accordance wilh applicable law and United Kingdom Accounting Standards
(United Kingdom Generally Accepted Accounting Practice) including Financi81 Reporting
Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of
Ireland"
The law applicable to charities in England and Wales, the Charities Act 2011. Charity
(Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the
Iruslees to prepare financial slalemenls for each financial year which give a true and fair view
of the slate of affairs of the charity and of the incoming resources and application of resources,
including the income and expenditure, of the charityfor that period. In preparing those financial
statements, the trustees are requlred to
select suitable accounting pdicies and then apply them consislenlly.
observe the methods and principles in the Charity SORP.,
make judgements and eslimales that are reasonable and prudent.,
slate whether applicable accounting standards have been followed, subject to any
material departures disclosed and explained in the finandal statements.,
prepare the financial slalemenls on the going concern basls unless il is inappropriate lo
presume that the charity will continue in business.
The Iruslees aTe responsible for keeping proper accounting records whlch disclose with
reasonable accuracy al any lime the financial position of the charity and lo enable them to
ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts
and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible
for safeguarding the assets of the charity and hence for taking reasonable steps for the
prevention and detection of fraud and olhar irregularities.

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Re
ort of the Inde
endent Auditors lo the Trustee$ of
Shed Trust- Grou
Qualified Opinion
We have audited the financial statements of Pig Shed Trust - Group {Ihe 'group'l for the year ended
30 June 2023 which comprise the consolidated statement of financial 8clivilies, the consolidated
balance sheet. the consolidated cash flow statement, the group notes lo the financial slalemenls,
including significant auounling policies. The financial reportlng framework that has been applied in
their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The
Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally
Accepted Accounting Practice).
In our opinion. except for the effects of the matters de￿ribed in the basis for qualified opinion
paragraph, the financial statements..
give a true and fair view of the stale of the charity's affairs as at 30 June 2023 and of its incoming
resources and application of resources. for the year then ended., and
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice.
Basis for qualified opinion
The financial slalements do not include creditors of £451,695. which were present in one of the group's
subsidiaries upon acquisition. These have been wrillen off through income and expenditure during the
year as management understood these lo have been waivered on acquisilion. A]so excluded from the
accounts is a related Corporation Tax charge on the basis that the company has suffered sufficient tax
losses to cover this charge. We were unable lo obtain sufficient appropriate audit evidence to support
this.
We conducted our audit in accordance with International Standards on Auditing IUKI {ISAs {UKII and
applicable law. Our responsibilities kjnder 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 group in accordance with the ethical requirements that are relevant lo our audit of the financial
sl8lemenls 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 lo provide a basis for our qualrfied opinion.
Conclusion relating to going concern
In auditing Ihe linan¢ial stalemenls, we have concluded that the Iruslees, use of the going cOn￿M
basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any materfal uncertainties relating lo
events or conijilions that, individually or collectively, may cast significant doubl on the trust's ability lo
¢onlinue as a going concem for a period of at least twelve months from when the finanaal statements
are aulhorised for issue.
Our responsibilities and the responsibilities of the Iruslees with respect lo going conGem are described
in the relevant sections of this report.
other infomiatlon
The other information comprises the information included in the annual report other than the financial
s18temenls 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 we do not express any form of assurance conclusion thereon. Our responsibility is lo
read the other infomalion and, in doing so, consider whether the other information is materia1Sy
inconsistent with the financial statements or our knowledge obtained in the course of the audit, or
othernise appears to be materially misslaled. If we identify such material inconsistencies or apparent
material misstalemenls. we are required lo determine whether this gives rise lo a material
misslalemenl in the financial statements themselves. If, based on the work we have performed, we
conclude that there is a material misstalemenl of this other infomiation, we are required to report that
fact.

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We have nothing lo report in this regard.
Matters on whlch we are required to report by exception
In respect solely of the limilalion on our work relating to the creditors described above..
we have not obtained all the information and expl8n21ions that we considered necessary for the
purpose of our audit.. and
we were unable to detem)ine whether adequate accounting records have been maintained.
In the light of the knowledge and understsnding of the charity and its environment obtained in the
course of the audit, we have not identified material misststemenls in the Report of the Trustees.
We have nothing to report in respect of the follomring matters in relation to which Ihe Charities
{Accounls and Reports) Regulation 2008 requires us to report to you if. in our opinion..
adequate and proper accounting records have not been kept, or retums adequate for OLJr audit
have nol been received from branches not visited by us.. or
the financial statements are not in agreement with the accounting records and returns., or
rtain disclosures of Iruslees, remuneration specified by law are not made., or
we have not received all the infomialion and explanations we require for our audit.
Responslblllties of trustees
As explained more fully in the statement of trustees, responsibilities, the trustees are responsible for
the preparation of the financial slalements and for being satisfied that they give a true and fair view,
and for such internal control as the trustees determine is necessary lo enable the preparation of
financial statements that are free from material misstalemenl, whether due to fraud or error. In
preparing the financial slalemenls, the Iruslees are responsible for assessing the trust's ability to
continue as a going concern, disclosing. as applicable, matters related to going concern and using the
going concem basis of accounting unless the Iruslees either intend lo liquidate the charitable company
or lo cease operations, or have no realistic alternative bul to do so.
Auditor's responslbllities for the audit of the flnancial statements
Our objectives are lo obtain reasonable assurance about whether the financial statements as a thole
are free from material misslalemenl, whether due to fraud or error, and lo issue an auditovs report that
includes our opinion. Reasonable assurance is a high level of assurance bul is not a guarantee that
an audit conducted in accordance with SSAS IUKI will always delecl a material misstatement when il
exlsts. Misslalemenls can arise from fraud or error and are considered material if, individually or in the
aggreuale, they could reasonably be expected lo 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 wlh our responsibilities, oulllned above, lo detect material misstalemenls in respect
of irregularities, including fraud. The extent lo which our procedures are ¢apable of delecling
irregularities, including fraud, is detailed below.
In identifying and assessing risks of material misstatement In respect of irregularities, including fraud
and non-compliance with laws and regulations, our prO￿dureS included the following..
Obtaining an understanding of the legal and regulatory framework that the trust operates in,
focusing on those laws and regulations that had a direct effect on the financial statements and
operations.,
Oblalning an understanding of the trust's policies and procedures on fraud risks, including
knowledge of any aclual, suspected or alleged fraud., and
Discussing among the engagement team how and where fraud might occur in the financial
slalemenls and any potential indicators of fraud through our knowledge and understanding of the
company and our seclor-specific experience.
As a result of these procedures, we considered the opportunities and incentives that may exist within
the trust for fraLJd. We are also required to perform specific procedures to respond to the risk of
management override. As a result of performing the above, we identified the following areas as those
most likely lo have an impacl on the financial stalemenls.. health & safety, employment law and
Compliance with the Charities SORP {FRS 1021.
10

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In addition lo the above, our procedures lo respond lo risks identified included the following:
Making enquiries of management. about any known or suspected instances of non-compliance
with laws and regulations and fraud.,
Reviewing minutes of meetings of the board and senior management.,
Reading Corresponden￿ with regulators.,
Challenging assumptions and judgements made by management in their significant accounting
estimates., and
Auditing the risk of management override of controls, including through testing journal entries and
other adjustments for appropriateness.
Due to the inherent limitations of an audit, there is an unavoidable risk that some material
misstalemenls in the finanaal slalemenls may not be detected, even though the audit is properly
planned and performed in accordance with the ISAS IUKI. For instan￿, the further removed non-
compliance is from the events and transactions reflected in the financial statements, the less likely the
auditor is to become aware of il or to recognise the non-C(xnpliance.
A further description of our responsibilities is available on the Financial Reporting Council's website
al.. htlps'.Ilwww.frc.org.uklaudilorsresponsibilities. This description forms part of our auditor's reFx)rt.
Use of our report
This report is made solely to the charity's Iruslees, as a body, in accordance with part 4 of the Charities
(Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might stale
to the charity's Iruslees those matters we are required lo slate 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 charity and the charity's Iruslees as a body, for our audit work, for this report,
or for the opinions we have formed.
Jordan Abbott Bsc ACA (Senlor Statutory Auditor)
for and on behalf of Sumer Audlt
Chartered Accountants
Statutory Auditor
Chichester
02-05-2024
Sumer Audit is the trading name of Sumer Audltco Limited
11

Docusign En¥ÈlopÈ ID". F9B216DD-0727-4433-97A2-8AAD37DA732E
Shed Trust - Grou
Consolidated Statement of Financial Activities
for the Year Ended 30 June 2023
30.6.23
Unreslricled
fund
30.6.22
Total
funds
as restated
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
509.998
500.000
Charitable activities
Slow worm rehousing
768
768
Other tradlng activities
Investment income
Other income
440,225
4,104
782,391
343
Total
955 095 1,281,123
EXPENDITURE ON
Raising funds
Raising donations and legacies
Other trading activities
387.924
405,009
348,466
342,765
792,933
6g1,231
Charltable activities
Charitable
64.598
55.051
Deferred tax
8,561
64,568
Total
866,092
810.850
NET INCOME
89,003
470,273
RECONCILIATION OF FUNDS
Total funds brought forward
As previously reported
Prior year adjuslmenl
10.647,087 10,393,295
125,9191
342,400)
14
As restated
10,521,168 10,050,895
TOTAL FUNDS CARRIED FORWARD
10.610,171 10 521,168
12

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Shed Trust- Grou
Consolidated Balance Sheet
30 June 2023
30.6.23
Unreslricled
fund
30.6.22
Totsl
funds
as restated
Notes
FIXED ASSETS
Intangible assets
Tangible assets
15
16
48.351
19,775,957 19,693,507
19,824,308 19,693,507
CURRENT ASSETS
Stocks
Debtors
Cash al bank and in hand
17
18
500
28,408
844,141
500
311,760
771,250
873,049 1,083,510
CREDITORS
Amounts falling due wilhln one year
19
170,9301 {238,8251
NET CURRENT ASSETS
802,119
844.685
TOTAL ASSETS LESS CURRENT
LIABILITIES
20,626,427 20,538,192
CREDITORS
Amounts falling due after more than
one year
20
{10,016,256) {10,017,2041
PROVISIONS FOR LIABILTIES
NET ASSETS
FUNDS
Unreslricled funds
21
10,610,171 10,521,168
TOTAL FUNDS
10,610.171 10,521,168
The financial statements were approved by the Board of Trustees and aulhorised for issue on
30 April 2024 and were sign8d on ils behalf by=
H S Jones - Truste8
D J Cox- Trustee
13

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h d Trust
Charit Balance Sheet
30 June 2023
30.6.23
Unrestricted
fund
30.6.22
Total
funds
Notes
FIXED ASSETS
T8ngible assets
Investments
16
23
18,239.584 18,278,535
18.239.586 18,278,537
CURRENT ASSETS
D8btors
Cash 91 bank
18
4.441,282
674,149
3.734,6g7
599,384
5,115.431
4.334,081
CREDITORS
Amounts falling due within one year
19
{14,7691
16,5501
CURRENT ASSETS
5,100.662
4.327,531
TOTAL ASSETS LESS CURRENT
LIABILITIES
23,340.248 22.606,068
REDITORS
Amounts falling du6 after more than one
year
20
110,016,256) {10,017.024)
NET ASSETS
13.323,992 12,589,044
FUNDS
Unrestricted funds
13,323,992
12.589.044
TOTAL FUNDS
13,323,992 12,589.044
The financial statements were appmved by the Board of Trustees and aulhorised for issue on
30 April 2024 and were signed on ils behalf by=
H S Jones- Trustee
14

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Shed Trust- Grou
Consolidated Cash Flow Slalemenl
for the Year Ended 30 June 2023
30.6.23
30.6.22
restated
Notes
Cash flows from operating activltles
Cash generated from operations 24
Finance costs paid
Tax paid
427,280
15821
8,560
18.342,317)
13611
406,968
Nel cash provided byl(used in) operating
activities
435.258
7,935,710)
Cash flows from Investlng actlvltles
Purchase of intangible fixed assets
Purchase of tangible fixed assets
Purchase of fixed asset investments
Sale of tangible fixed assets
Interest received
(71,4091
1318,1201
23,058
1760,578)
3,000
343
4,104
Nel cash used in investing activities
362,3671
757 235)
Change In cash and cash
equivalents In the reporting
period
Cash and cash equlvalents at the
beginning of the reporting perlod
72.891
18,692,945)
771.250
9,464,195
Cash and cash equivalents at the
end of the reporting period
844,141
771,250
15

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Shed Trust - Grou
Notes lo the Financial Slalemenls
for the Year Ended 30 June 2023
ACCOUNTING POLICIES
Basls of preparing the flnanclal statements
The financial statements of the charity, which is a public benefit entity under FRS 102,
have been prepared in accordance with the Charities SORP (FRS 1021'Accounting and
Reporting by Charities.. Slalement of Recommended Practice applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable
in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 2019),. Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and
Republic of Ireland, and the Charities Act 2011. The financial slalements have been
prepared under the histolleal cost convention.
Income
All income is recognised in the Slalement of Financial Activities once the charity has
entillemenl to the funds, it is probable that the income will be re￿iVed and the amount
an be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is 8 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 lo the category. Vvhere costs
cannot be directly allributed to particular headings they have been allocated to activities
on a basis consistent with the use of resources.
Tanglble fixed assets
Depreciation is provided al the following annual rates in order lo write off each asset
over ils estimated useful life.
Freehold property
Improvements lo property
14/0 on cost
25./0 on cost and 200/0 on cost
Plant and machinery
250/0 on cost, 25Vo on reducing balance and 1 OYO on
cost
20 /0 on cost
250A on cost and 25°/0 on reducing balance
Fixtures and fillings
Computer equipment
Going concern
Al the lime of approving the financial stalemenls, the Trustees have a reasonable
expectation that the charity has adequate resources lo continue in operational
existence for the foreseeable fulLJre. Thus the Trustees continue lo adopt the going
con￿rn basis of accounting in preparing the financial statements.
16

Docusign En¥ÈlopÈ ID". F9B216DD-0727-4433-97A2-8AAD37DA732E
Shed Trust - Grou
Notes lo the Financial Statements continued
for the Year Ended 30 June 2023
ACCOUNTING POLICIES - eontlnued
Impairment of fixed assets
At each reporting end dale, the charity reviews the carying amounts of its tangible
assets and goodwill lo detemiine 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 eslimaled in order to determine the extent of the impaim)enl loss lif any)-
No such indications were noted.
Intangible fixed assets- goodwll
Goodwill represents the excess of the cost of acquisition of a business over the fair
value of net assets acquired. It is initially recognised as an asset al cost and is
subsequently measured at cost less accumulated amortisalion and accumulated
impairment losses. Goodwill is considered to have a finite useful life and is amortised
on a systematic basis over ils expected life, which is 10 years.
Flxed assot investments
In the parent charity financial statements, investments in subsidiaries, associates and
jointly controlled entities are initially measured at cost and subsequently measured al
cost less any accumulated impaimient losses.
Cash and cash equlvalents
Cash and cash equivalents are basic financial assets and include cash in hand.
deposits held at call with banks, other short-lerm liquid investments with original
maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.
Financial instruments
The Group ha8 elected lo apply the provisions of Section 11 'Basic Financial
Instruments, and Section 12 '01her Financial Instruments Issues, of FRS 102 to all of
ils financial instruments.
Financial instruments are recognised when the charity becomes party to the contractual
provisions of the instrument.
Basic financlal assets
Basic financial assets, which include debtors and cash and bank balances, are initially
measured al transaction price including transaction costs and are subsequently cariied
al amortised cost using the effective interest method unless the arrangement
conslilules a financing transaction, where the transaction is measured at the present
value of the future receipts discounted at a markel rale of interest. Financial assets
classified as receivable within one year are not amortised.
17

Docusign En¥ÈlopÈ ID". F9B216DD-0727-4433-97A2-8AAD37DA732E
Shed Trust- Grou
Notes lo the Financial Statements - continued
for the Year Ended 30 June 2023
ACCOUNTING POLICIES- contlnued
Other financial assets
Other financial assets, including investments in equity instruments are initially
measured al fair value, which is normally the transaction price. Such assets are
subsequently Carried at fair value and the changes in fair value are recognised in net
incomellexpendilurel. except that inveslmenls In equity inslruments that are not
publicly traded and whose fair values cannot be measured reliably are measured al
cost less impairment.
Impalrment of financial assets
Financial assets, other than those held 8t fair value through Income and expenditure,
are assessed for indicators of impairment at each reporting dale. Financial assets are
impaired where there is objective evidence that, 2S 2 result of one or more events that
occurred after the initial recognition of the financial asset. the eslimaled future cash
flows have been affected.
If an asset is impaired, the impairment loss is the difference between the carrying
amount and the present value of the eslimaled cash flows discounted al the asset's
original effective interest rate. The impairment loss is recognised in nel
incomel{expenditurel for the year.
If there is a decrease in the impaimenl loss arising from an event occurring after the
impaimienl was recognised, the impairment is reversed. The reversal Is such that the
urrenl carrying amount does not exceed what the carying amount would have been,
had the impairment not previously been recognised. The impairment reversal is
reoognised in net incomel(exp8nditurel for the year.
Derecognitlon of financial assets
Financial assets are derecognised only when the contractual rights lo the cash flows
from the asset expire or are sellled, or when the charity transfers the financial asset
and subslanlially all th8 risks and rewards of ownership lo another enlily, or if some
significant risks and rewards of ownership are retained but control of the asset has
transferred lo another party that is able lo sell the asset in its entirety to an unrelated
third party.
Basic finènclal liabilities
Basic financial liabilities, including trade and other payables, are initially recognised at
transaction price unless the arrangement conslitules a financing transaction. where the
debt instrument is measured al the present value of the future receipts discounted at a
market rale of interest. Debt instruments are subsequently carried at amortised cost,
using the effective interest rale method.
Trade payables are obligations lo pay for goods or services that have been acquired in
the ordlnary course of operations from suppliers. Accounts payable are classified as
current liabilities if payment is due within one year or less. If not, they are presented as
non-currenl liabilities. Trade payables are recognised initially at transadion pri￿ and
subsequently measured at amortised cost using the effective inleresl method.
Derecognition of flnancial Ilablllties
Financial liabilities are derecognised when the charity's contractual obligations expire
or are discharged or cancelled.
18

Docusign En¥ÈlopÈ ID". F9B216DD-0727-4433-97A2-8AAD37DA732E
Pl Shed Trust- Gro
Notes lo the Financial Slalemenls- continued
for the Year Ended 30 June 2023
ACCOUNTING POLICIES - contlnued
Deferred tax
Deferred lax liabilities are generally recognised for all timing differences and deferred
tax assets are recognised lo the exlenl that il is probable that they will be recovered
against the reversal of deferred tax li8bililies or other fulLJre taxable profits. Such assets
and liabilities are not recognlsed if the liming difference arises from goodwill or from the
initial recognition of other assets and Ilabililies in a transaction that affects neither the
tax profil nor the accounting profil.
The carrying amount of deferred tax assets Is rev￿Wed al each reporting end dale and
reduced lo the extent that il is no longer probable that sufficient taxable profits will be
available to allow all or part of the asset to be recovered. Deferred lax is calculated al
the lax rates that are expected to apply in the period when the liability is settled or the
asset is realised. Deferred lax is charoed or credited in the profil and loss a¢counl.
except when il relates lo items Charged or credited directly to equity. in which case the
deferred tax is also dealt with in equity. Deferred lax assets and liabilities are offset if,
and only if, there is a legally enforceable right to offset
current lax assets and liabilities and the deferred lax assets and liabllltles relate to taxes
levied by the same lax authority.
Basis of consolidation
The consolidated group financial statements consisl of the financial statements of the
parent charity Pig Shed Trust together with all entities controlled by the parent charlty
lils subsidiaries) and the group's share of its interests in joint ventures and associates.
All financial statements are made up lo 30 June 2023. Where necessary, adjustments
are made to the financial statements of subsidiaries to bring the accounting policies
used into line with those used by other members of the group.
All intra-group Iransaclions, balances and unrealised gains on transactions belween
group companies are eliminated on consolidation. Unrealised losses are also
eliminated unless the transaction provides evidence of an impaimient of the as8el
transferred.
Subsidiaries are Consolidated in the group's financial slalements from the dale that
control commences until the date that control ￿8S&S
Stocks
Stocks are valued at the lower of cost and nel realisable value, after making due
allowance for obsolete and slow moving items.
Taxation
The charity is exempl from lax on ils charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives al the
discretion of the trustees.
19

Docusign En¥ÈlopÈ ID". F9B216DD-0727-4433-97A2-8AAD37DA732E
Shed Trusl- G
Notes lo the Financial Slalemenls - continued
for the Year Ended 30 June 2023
ACCOUNTING POLICIES - contlnued
Fund accountlng
Further explanatSon of the nature and purp0$8 of each fund is included in the notes to
the financial statements.
Hire purchase and leasing commltments
Rentals paid under operating leases are charged to the Stalem8nt of Financial Activities
on a straight line basis over the period of Ihe lease.
Pension costs and other post-retirement beneflts
The Charity operates a defined contribution pension scheme. Contributions payable to
the charity's pension scheme are charged lo the Statement of Financial Aclivitles in
the period lo which they relate.
DONATIONS AND LEGACIES
30.6.23
30.6.22
Donations
Gift aid
Grants
400,000
100,000
9,998
500,000
509,998
500,000
Grants received, included in the above, are as follows-
30.6.23
30.6.22
Other grants
9,998
20

Docusign En¥ÈlopÈ ID". F9B216DD-0727-4433-97A2-8AAD37DA732E
Shed Trust- Grou
Notes lo the Financial Statements - continued
for the Year Ended 30 June 2023
OTHER TRADING ACTIVITIES
30.6.23
30.6.22
Rent receivable
RPA Income
Sundry Income
Other Income
Sale of goods
188,745
68,088
300
155,015
25,173
408
{3.0001
604.795
183.092
440,225
782,391
INVESTMENT INCOME
30.6.23
30.6.22
Deposit account interest
4,104
343
INCOME FROM CHARITABLE ACTIVITIES
30.6.23
30.6.22
Slow worm rehousing
768
768
RAISING DONATIONS AND LEGACIES
30.6.23
30.6.22
Staff costs
Rent
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Sundries
Accountancy
Computer costs
Travelling expenses
Subscriptions
Legal & professional fees
Consultancy fees
54,834
29,194
2,595
25,973
33,354
535
147
2,419
3,350
608
9,264
188
119
20,300
54,967
27,156
2.350
20,511
21,028
60
314
105
2,500
657
6,620
415
5,598
12.531
Carried forward
182.880
154,812
21

Docusign En¥ÈlopÈ ID". F9B216DD-0727-4433-97A2-8AAD37DA732E
hed Trust- Grou
Notes to the Financial Slalements - continued
for the Year Ended 30 June 2023
RAISING DONATIONS AND LEGACIES - continued
30.6.23
30.6.22
Brought fonNard
Repairs and maintenance
Depreciatlon
Interest payable and similar charges
Support costs
182,880
7,744
196.718
582
154,812
8,232
177,261
361
7,800
387,924
348,466
OTHER TRADING ACTIVITIES
30.6.23
30.6.22
Opening stock
Purchases
Closing stock
Staff costs
500
351,370
(5001
53,639
600
278.990
15001
63.675
405.009
342,765
CHARITABLE ACTIVITIES COSTS
Support
costs (see
note 91
Direct
Costs
Totals
Charitable
56.378
8,220
64.598
SUPPORT COSTS
Governance
costs
Charitable
8,220
22

Docusign En¥ÈlopÈ ID". F9B216DD-0727-4433-97A2-8AAD37DA732E
Shed Trust- Grou
Notes to the Financial Slalemenls - continued
for the Year Ended 30 June 2023
SUPPORT COSTS- contlnued
Support costs, included in the above, are as follows..
30.6.23
30.6.22
Total
activities
Charitable
Auditors, remuneration
8,220
7,800
10. AUDITORS. REMUNERATION
30.6.23
30.6.22
Fees payable lo the charity's auditors for the audit of the group's
financial slalements
8,220
7.800
11. TRUSTEES. REMUNERATION AND BENEFITS
There were no trusteés, remuneration or other benefits for the year ended 30 June 2023
nor for the year ended 30 June 2022.
Trustees. expenses
There were no trustees, expenses paid for the year ended 30 June 2023 nor for the year
ended 30 June 2022.
12. STAFF COSTS
30.6.23
30.6.22
Wages and salaries
Social security costs
other pension costs
100,020
5,385
3,068
108,394
6,997
3,251
108,473
118,642
The average monthly number of employees during the year was as follows..
30.6.23
30.6.22
Average number of employees
No employees received emoluments in excess of £60,000.
23

Docusign En¥ÈlopÈ ID". F9B216DD-0727-4433-97A2-8AAD37DA732E
Shed Trust- Grou
Notes to the Financial Slalemenls - continued
for the Year Ended 30 June 2023
13. COMPARATIVES FOR THE CONSOLIDATED STATEMENT OF FINANCIAL
ACTIVITIES
Unrestricted
fund
as restated
INCOME AND ENDOWMENTS FROM
Donations and legacies
500,000
Charitable activitles
Slow worm rehouslng
768
Other trading aclivilies
Investment income
Other income
782.391
343
Total
1,281.123
EXPENDrruRE ON
Raising funds
Raising donations and legacies
Other trading activities
348,466
342,765
691,231
Charitable activitles
Charitable
55,051
Deferred tax
64,568
Total
810.850
NET INCOME
470,273
RECONCILIATION OF FUNDS
Total funds brought fO￿ard
As previously reported
Prior year adjustment
10,393,295
342,400}
As restated
10.050,895
TOTAL FUNDS CARRIED
FORWARD
10,521,168
24

Docusign En¥ÈlopÈ ID". F9B216DD-0727-4433-97A2-8AAD37DA732E
Shed Trust- Grou
Notes lo the Financial Slalements continued
for the Year Ended 30 June 2023
14. PRIOR YEAR ADJUSTMENT
The prior year figures were restated lo remove the deferred tax asset within Scallop
Ranch Limited. It was fell that il was not prudent to reflect this Sin￿ il is unlikely the
company wll make any profits for a considerable period of time and any that do will be
gifted to the holding company. This reduced the deferred lax asset and retained profits
by £342,400. There was also a revision in respect of the Capital Grants for the barn
build within Biddenfield Eslale Management Ltd to write these off over the expected life
of 20 years, as reflected in the depreciation policy. Thls decreased income by £70,750
and increased accruals. There was also a prior year adjuslmenl in Telalion lo capital
works that needed to be accrued as they were largely finished before the year-end,
which increased fixed assets and accruals by £70,389. The aggregate effect was to
reduce unreslricled funds al 301612022 by £342,400.
15. INTANGIBLE FIXED ASSETS- GROUP
Goodwill
COST
Additions
48,351
NET BOOK VALUE
At 30 June 2023
48,351
At 30 June 2022
16. TANGIBLE FIXED ASSETS
GROUP
Impmvements
lo
property
Freehold
pmperty
Plant and
machinery
COST
Al 1 July 2022
Additions
18.440,334 1.098,834
5,784
199,350
956,582
112,986
At 30 June 2023
18,446.118 1,298,184 1,069,568
DEPRECIATION
Al 1 July 2022
Charge for year
161,798
38,951
81,500
64,908
563,575
130,093
At 30 June 2023
200.749
146,408
693,668
NET BOOK VALUE
At 30 June 2023
18,245 369 1.151,776
375,900
At 30 June 2022
18,278.536 1,017.334
393,007
25

Docusign En¥ÈlopÈ ID". F9B216DD-0727-4433-97A2-8AAD37DA732E
Sh
Trust- Grou
Notes lo the Financial Slalemenls - continued
for the Year Endèd 30 June 2023
16. TANGIBLE FIXED ASSETS - continued
Fixtures
and
fittings
Computer
equipment
Tot218
As Reslaled
COST
Al 1 July 2022
Additions
6,590
4,901 20.507,241
318,120
AI 30 June 2023
6,590
4.901 20,825,361
DEPRECIATION
At 1 July 2022
Charge for year
3,113
3,748
399
813,734
235 670
At 30 June 2023
4,432
4 147 1.049,404
NET BOOK VALUE
AI 30 June 2023
2,158
754 19,775,957
At 30 June 2022
3.477
1,153 19,693 507
Freehold
property
CHARITY
COST
At 1 July 2022 and 30 June 2023
18,440,333
DEPRECIATION
Al 1 July 2022
Charge for year
161.798
38,951
At 30 June 2023
200,749
NET BOOK VALUE
AI 30 June 2023
18.239.584
AI 30 June 2022
18,278,535
17. STOCKS ￿ROUp
30.6.23
30.6.22
Stocks
500
500
26

Docusign En¥ÈlopÈ ID". F9B216DD-0727-4433-97A2-8AAD37DA732E
Shed Trust- Grou
Notes lo the Financial Slalements - continued
for the Year Ended 30 June 2023
18. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23
30.6.22
Trade debtors
other debtors
1.646
3,891
301,315
3,001
VAT
Prepayments and accrued income
11,990
10,881
7.444
CHARITY
30.6.23
30.6.22
other debtors
Prepayments and accrued income
3.430,666 3,018,754
1.010,616
715,943
4,441.282 3,734,697
19. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23
30.6.22
Taxation and social security
Other creditors
474
213.957
37.976
37,976
214,431
CHARITY
30.6.23
30.6.22
Other creditors
14,769
6,550
20. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.23
30.6.22
GROUP AND CHARITY
Other credilors
10,016,256 10,017,024
Within other creditors in both the group and charity IS 8 loan of £10.000,000 due lo a
trustee. Harvey Jones. No interest is payable on this loan and the loan is secured by
way of a fixed charge over the freehold property, South Holt Farm. The loan is
repayable on demand by the lender provided that two years, notice is given. and the
amount lo be repaid will be either the amount of the loan outstanding at the time, or of
the value of the property at that time, whichever is lower.
27

Docusign En¥ÈlopÈ ID". F9B216DD-0727-4433-97A2-8AAD37DA732E
Shed TnJsl- Grou
Notes lo the Financial Statements- continued
for the Year Ended 30 June 2023
21. MOVEMENT IN FUNDS
Prior
year
Al 1.7.22 adjustment
Net
movement
in funds
At
30.6.23
Unrestricted funds
General fund
10.647,087
(125,9191
89,003 10.610,171
TOTAL FUNDS
10,647,087
125.9191
89,003 10,610,171
Nel movement in funds. included in the above are as follows:
Incoming Resources
reSoUr￿S
expended
Movement
In funds
Unrestricted funds
General fund
Comparatlves for movement In funds
Ptior
year
adjustment
Net
movement
in funds
Al
30.6.22
Al 1.7.21
Unrestricted funds
General fund
10,393.295
{342,4001
470.273 10,521,168
TOTAL FUNDS
10.393,295
342,400)
470,273 10,521,168
Comparative nel movement in funds, included in the above are as follows..
Incoming Resources Movement
resources
expended
in funds
Unrestricted funds
General fund
1,281,123
1810,8501
470,273
TOTAL FUNDS
1.281,123
810.8501
470,273
28

Docusign En¥ÈlopÈ ID". F9B216DD-0727-4433-97A2-8AAD37DA732E
Shed Trust- Grou
Notes to the Financi81 Statements- continued
for the Year Ended 30 June 2023
22. RELATED PARTY DISCLOSURES
During the year lolal donations of £400,000 {2022 - £500,000) were received from
Harvey Jones.
23. FIXED ASSET INVESTMENTS - CHARITY
Shares in
group
undertakings
MARKET VALUE
At l July 2022 and 30 June 2023
NET BOOK VALUE
AI 30 June 2023
At 30 June 2022
There were no investment asse18 outside the UK.
24. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING
ACTIVITIES
30.6.23
30.6.22
as
restated
Net income for the reporting perlod las per the Statement
of Financial Activities)
Adjustments for:
Depreciation charges
Loss on disposal of fixed assets
Interest received
Finance costs
Decrease in stocks
Decreasellincreasel in debtors
Decrease in creditors
89,004
470,273
235,669
216,212
2.379
13431
361
100
1229,548)
8.801,751)
14,1041
582
283,352
177,223)
Net cash provlded byl{used in) operations
427,280
8,342.3171
25. ANALYSIS OF CHANGES IN NET FUNDS
At 1.7.22 Cash flow At 30.6.23
Net cash
Cash at bank and in hand
771.250
72.891
844,141
Total
771,250
72.891
844,141
29

Docusign En¥ÈlopÈ ID". F9B216DD-0727-4433-97A2-8AAD37DA732E
Shed Trust- Grou
Oelailed Consolidated Slalement of Financial Activities
for the Year Ended 30 June 2023
30.6.23
30.6.22
as restated
INCOME AND ENDOWMENTS
Donations and legacles
Donations
Gift aid
Grants
400,000
100,000
9,998
500,000
509,998
500,000
Other trading activities
Rent receivable
RPA Income
Sundry Income
Other Income
Sale of goods
188,745
68.088
300
155,015
25,173
408
13.000)
604,795
183,092
440,225
782,391
Investment income
Deposit account interest
4.104
343
Charitable activities
Other Income
768
768
other income
Loss on sale of tangible fixed 8ssels
2.379)
Total incoming resources
955.095 1,281,123
EXPENDITURE
Raising donatlons and legacies
Wages
Social security
Pensions
Rent
Rates and water
Insurance
Light and heal
Telephone
Postage and statlonery
Sundries
Carried forward
48.009
5,385
1,440
29,194
2,595
25,973
33,354
535
147
2,419
149.051
48,009
5,518
1,440
27,156
2,350
20,511
21,028
60
314
105
126,491
30

Docusign En¥ÈlopÈ ID". F9B216DD-0727-4433-97A2-8AAD37DA732E
Shed Trus
Grou
Detailed Statement of Financial Activities
for the Year Ended 30 June 2023
30.6.23
30.6.22
as restated
Raising donatlons and legacles
Brought forward
Accountancy
Computer costs
Travelling expenses
Subscriptions
Legal & professional fees
Consultancy fees
Repairs and maintenance
Depreciation of tangible fixed assets
Bank charges
149,051
3,350
608
9,264
126,491
2,500
657
6,620
415
5,598
12,531
8,232
177,261
361
119
20.300
7,744
196,718
582
387.924
340,666
other trading activities
Opening stock
Purchases
Estate costs
Wages
Social security
Pensions
Closing stock
500
253,916
97,454
52,011
600
204.153
74,837
60,385
1.479
1,811
1.628
405,009
342,765
Charitable actlvities
Legal & professional charges
Freehold property
17,427
38.951
16,100
38,951
56,378
55,051
other
Deferred Tax
Corporation tax
Gift aid relief
8.561
64,568
70,969
70,9691
8,561
64.568
Support costs
Governance costs
Auditors, remuneration
7,800
Total resources expended
866 091
810 850
Net income
89,003
470 273
31

Docusign En¥ÈlopÈ ID". F9B216DD-0727-4433-97A2-8AAD37DA732E
Po Shed Trust
8ates Wells and Braithwaite
Scandinavian Hous8
2-6 Cannon st￿et
London
EC4M 6YH
Charlly rÉglstered Sn England.
Nutnber'.1146739
Prlvate and Confldentlal
Sumer Audit
Amelia House
Crescent Road
Worthing
Wesl Sussèx
BN11 1RL
Your Ref: PSTG50
1￿ May 2024
Dear Sirs
This representation letter is provldeil In ¢onne¢tlon wlth your audit of the accounts of PWJ Shed Trust for th6
year ended 30 June 2023 for the purpose ol expressing an opinion as lo whether th8 accounts glve a true
and lair Mew ol the results and financi81 positioll ol Pig Shed Trust in accordance with The Charit18s Act 2011
and Uniled Kingdom Accounting Slandaids (United Kingdom Generally AcTrpled Accounting Praclicel.
Accounts
We ad(nowledge as truslees our responsibility under The Charities Aet 2011 for preparing financial
statements in accordance with The Charities Act 2011 and FRS 102." The Finanaal Reporting Standard
applicable in the UK and Republic of Ireland and the Statement of Recommended Practice applicable lo
charities preparing their accounts in a￿OrdanCe with the Flnancial Reporting Standard applicable in the
UK and Republic of Ireland IFRS 1021 I'charity SORP"), whkh give a true and fair view of the financial
position ol the charity as of the balance sheet dale and ol the results ol its operations and ils cash flows
for the period then ended and for making accurate repres8ntatlons to you.
We ¢onfirm that the selection and application of the accounllng pollcies used Sn the preparation of the
financial statements are Bppropriate. and we approve these financlal statements for the yeBr ended 30
June 2023.
We confirm that all accounting records have been made available lo you lor thè purpose of your audit, in
acwrdance wlth your tem)s of engagement. and that all the Iransa¢lions undertaken by the charily have
been properly reflected and recorded in the accounting records. All other records and related
information, including minutes of all management, trustees, and rnernbeis, meetings, have been made
availablé to you. We have given you unrestricted access to persons withln the charity in order to obtain
audll evidèncè and have provided any additional information that you have requestèd for the purposes
of your audit.

Docusign En¥ÈlopÈ ID". F9B216DD-0727-4433-97A2-8AAD37DA732E
The eharily has satisfactory title to all assets, and there are no liens or encumbrances on the asseis
except lor Ih05e dlsclosed in the accounls.
The methods, data and significant assumptions used by us in making accounting estimates, and their
related disclosures. are appropriate to achieve recognition, measurement and disclosure that Is
reasonable in the conlèxl ol Ihe applieAble financial rÈporting framework
We have no plans or intentions that may materially aller the carrying value and where relevant the fair
value mèasurements or classification ol assets and Ilabilities refl8¢1ed In the aexounls.
There are no liabilities, wntlngenl liabilitiés or guarantees to third partie5 Other than those disclosad sn
the accounts.
We confirm Ihat all known actual or possible litigation and clalms whose effeels should bé considered
when preparlng Ihe financi81 statements have been disclosed to you and o¢eounted for and disclosed In
accordance with the applicable Ilnancial reporting framework.
8. All events since the balan￿ sheet date which require disclosure or which would materially affect the
amounls in the accounls have been adjusted or included in the accounts.
We confim that we are aware of tha dèfinilion of a ralaled party lor the purpose of the accour)ting
fram8work beino applied in the preparation of th8 accounts. We have disclosed to you, as auditor, the
identity of the companqs related partles and all thè related party r8labonships and transactions of which
we arè aware and wè are satisfied that all related party relationships and transaetlons have beèn
accounted lor and disclosed in accordance with the applicable financial reportino framework.
10. The charity has at no tlme during thè period enltsred Into any arrangèmenl, transaction or agreement to
provid8 credit facilities lincluding loans. quasi loans or credit transactions) for Irusleesldireclors, ntsr to
guarantee or prowde seujrity for sueh matters. except as disclosed In Ihe accounts.
11. The charity had not, al the balance sheet datè. contrad8d for, and the trustees had not authorised, any
malerial 8xpendilure other than as disck>sed in ihe accounts.
12. The charily has compli8d with all asperts of contractual 8greemenl8 that could have a malerial effect on
the accounts In Ihe event of non-complignce.
13. We confirm that we are not aware of any possible or actU8I Instance of non-compliance with those laws
and reoulalions which provide a legal framework within whleh the charity eonducts ils activities and
which are central to the charitls abilily lo conduct ils activities. as explainéd to you and as dlsclosed in
the financial statements.
14. We confinm that the￿ have been no actu81 or suspected instances of fraud involving trustees,
management or employees who have a signrficanl role in inlemal control or that could hav8 a material
effect on the financial statements. We also confirm that we are not awar8 of any allegations ol fraud by
tnjslees, form8r trustees, analysts, employees, former ernployees, regulators or others.
15. We confirm that. in our opin1on. the charity's financial slalements should be prepared on the going
concern basis on the grounds that current and future sources of fundin9 or support will be rnore than
adequate for th8 charitls needs. In reaching this conclusion, we have taken Into account 811 relevant

Docusign En¥ÈlopÈ ID". F9B216DD-0727-4433-97A2-8AAD37DA732E
matters of which wè are aware, and have considered a period of al least one year from the date on
which the financial statements will be approved.
16. We aCknO￿edge our responsibility for the design, implementBtion and maintenance of internal Contro15
to prevent and deléct fraud. We confirm that we have disclosed to you the results ol our risk assessment
(>f the risk of fraud in th8 organisation. Thèra have been no d8fieiencies in inlemal control of which we
are aware.
17. We beli8ve that those uncorrected misstatements Identified during thg 8udil of the flnancial statements
are immaterial both individually and in aggregate to the financial slalements as a whol8. Note. that we
have also Included those unwrr8Cted misstatem8nts of the trading subsidiaries given that these feed
into the consolidated accounts for Pig Shed Trust.
Shed Tny61for
Del￿1
Undeislalemenl of trade ¢feditors Irom rewew of p09t
ar-end
ments
Redassificalion of invthce Oaled In our year lo trade
creditors frorn accrua
Oe¢rease lo sur
lus and nei ¥s$ets
areNJln
30 June 2023
st8leTneniol FSn8nclal AclEvllies
D8bll
Credit
3.610
Balance Sfveet
Credit
3.610
Deb
7.800
7,eoo
3,610
Biddènfield Eslales Msnagemoni Limlled fOrYear8￿j￿s
30 June 2023
Datal
Redassificalion from ¥cruals lo Irado ¢rediiors due lo
invoicé
dgled wiihin ihe
ar
Redassificalion of Involce dated In our y8ar ￿ Ir8de
creditots from accruaLs
Nil wn
Profil and k)ss
6alanca sheet
Oebit
Credit
Deb51
1.750
Credit
1.750
5.211
5.211
Bidd6nfleld Estates Management Llmlled fOryear￿dlng
30 June 2022
Deiail
Underslal8menl of trade creditors
DÈcrèase lo
iofil and nel ¥$se
Profil and h)ss
Balance Sheet
Deblt
Dabil
c[￿11
2,800
So*llo
R8n¢h Llmllgdfor
ar endln
30 June 2023
Profil and loss
Crtd
Balanr*sheel
DeNI
Deknl
4.788
Re¢laswf￿3I10n from accruals lo trade cre(Alots dua 10
invoice bein
dated wfthln the
dr
Underslaiemenl ol aGcNals al ye8r-and- Brillth Gas
Invoice
4.788
2.7J8
2,738
7.526
Scalk) Ranch Llmlled for
r endin
30 JU￿ 2022
Profil atK$108s
Credit
Bal8nc8 shegl
Credll
2.178
Debil
2.178
Under6tai•m6niof &crua15 at Year*￿- Brflish Gas
In￿¢8
2.fj78
18. W8 confirm that we 8r8 not aware of any matters of material significance that should be reported lo
regulators. We confsrm that all correspondenee wth Charity Commission have been made availabb to
you.

Docusign En¥ÈlopÈ ID". F9B216DD-0727-4433-97A2-8AAD37DA732E
19. We conlim) the following specific representations made to you durin9 the course of your audit:
a. That the bank bal8ne6 is accurately stated and that ther8 are no undisclosed charges,
guarantees, or related parties in relation lo the charills banking arrangements. There are
aL%o no new accounts or108ns that have been entered into during the y8ar.
b. That the balances owed from Ihe subsidiaries valug of £4,439,682 at the balance sheet date
is recoverable.
20. Atl grants, donations and other income, including those subject to special terms or conditions or reeelved
for restricted purposes, have been notified to you. There have been no breaches of lerrlls or conditions
during the period regarding the applicat￿n ol such income.
21. We acknowledoe our legal responsibilities regarding disclosure of Information to you as auditors and
confim that..
so far as each trustee is awarè, thérè is no relevant audit inforrnation of which you as auditors
are unaware, and
each trustee has taken all the steps that they ought lo have taken as a Itustee to make
thamselves aware of any relevant 8udit information and to establish that you arè aware of that
inform81ion.
Yours faithfully
SNJned on behalf of the board of truslees by..
Trustee
VAUII Cop
Trustee
02-05-2024
Dat6