Sustainable Food Trust TRUSTEES REPORT AND FINANCIAL STATEMENTS Year Ended 31 March 2025 Company Numbor: 07577102 Charity Number: 1148645
Sustainable Food Trust CONTENTS Legal and Administrative Inforn)ation Trustees Report 3-13 Charitable Purposes Achievements and Future plans Delivering Public Benefit Governance and Management 9-10 Fundraising Financial R8vi8W Statement of Trustees Responsibilities 13 Independent Audltor's Report 14.17 Flnanclal Slatoment8 The Following pages do not fom part of the staiulory financial statements Management Infomiatlon 33-34
Sustainable Food Trust LEGAL AND ADMINISTRATIVE INFORMATION Organisation Name: Sustainable Food Trust Company Registration Number: 07577102 Charlty Reglstratlon Number: 1148645 Reglstered offl¢e and operatlonal address: 38 Richmond Street. Totterdown. Bristol, BS3 4TQ Trusteeslcompany Directors: Peter Segger IUKI Christina Lee Brown (USA) Lady {Janel Parker IUKI- Chair Ado Brady IUK) George Kailis (Australia) Evi Sleyer {UKI- Stood down 16.07.24 Company Secretary: Claire Peeters Chlef Executive: Patrick Holden. CBE Senlor Management Team: Chief Executive. Executive Director, Policy Director lunlil 15.11.241. Global Farm Metri Director, Diréctor of Operations. Audltor: Burton Sweet Limited, The Clock Tower, Farleigh Court. Old Weston Road, Flax Bourton, Bristol, 8S48 1 UR Bankers: Triodos Bank, Oeanery Road, Bristol, BS1 SAS Funders: The SFT would like to extend our thanks to the following funders for supporting our work during th8 year.. 8&J Lloyd Family Charitable Trust CHK Foundation College of Medicine Defra Duchy of Lancaster EQ Foundation Esmée Fairbaim Foundation Famiacy Green Foundation National Westminster Bank Naluresave Trust People's Poslcode Loltery Porticus Dusseldorf Rela Lila Howard Roger Pauli {R&D Glass) Ruskin Mill Land Trust Sustainable Food Alliance. Inc. The D'oyly Carte Charitable Trust The Prince of Wales Charitable Trust The Landworkers, Alliance The Prudence Trust
Sustainable Food Trust LEGAL AND ADMINISTRATIVE INFORMATION The Rothschild Foundation The Romshed Charitable Trust The Serve Al Trust We'd also like lo thank those who supported anonymously. The Sustainable Food Alliance SFA The SFA is a US tax-exempt 501 (cl{3) non-profit organisation. which works in partnership with the Sustainable Food TNst and raises funds to support sustainable food programmes. Donors whose generous support of the SFA has benefitted the SFT during the year include.. Owsley Brown111 Philanthropic Foundation- Christina Lee Brown,. The Meridian Inslitute., The Frances and Benjamin Benenson Foundation,. Organic Association Kentucky- John and Jessica Moussouris
Sustainable Food Trust TRUSTEES, REPORT CHARITABLE PURPOSES The charitable purposes of the Sustainable F¢))d Trust (SFT). as set out in the objects contained in the company s Articles of Association, are.. al The preservation, conservation and protection of the environment and the prudent use of natural resour$. including by the promotion of suslainable food production rnethods. bl The advancement of health. including the relief of disease and human suffering by.. a. Encouraging the cultivation of foods and the uptake of diets (tailored to local circumstances in different countries and regions) to bring health benefits lo individuals and populations in terms of better nutrition and lower incidence of diet related diseases. b. The identification of food production methods thal improve the nutritional value of foods and the dissemination of this infomation. c. The relief of malnutrition. cl To advance the education of the public in food production methods and their impact on the environment and public health. In s8rvic8 of thes8 objectiV8S, thè SFT'S mlsslon is io accelerate the transition towards more suslainable food systems. To achieve this. we work in three ways.. Lèadershlp and Collaboratlon: Influen¢ing individuals and organisations in18adership posilions. Research and Pollcy: Using sound evidence lo advocale for better policy and practice. Communlcatlons: Encouraging and empowering individual and collective action. Summary There is growing intemational consensus amongst the climate science community, governments, public and private finance, food companies, retailers and NGOS on the urgent need for an agriculture and food systems transition. This is underpinned by awaneSS that although our current famiing and food systems are major contributors to climate change, the destructson of natural ecosystems and damage to public health, huge potential exists for regenerative models to reverse these crises and become part of the solution. Although consensus may not yet have been reached on the exact nature of the famiing systems that are needed to replace the ones we have al present, it is agreed by all that the transition is not taking place anywhere near fast enough and that a key barrier is the absence of an enabling financial environment, particularly for farmers. Our mission is to accelerate the transition to sustainable food and faming systems. Our vlsion is for all farming and land management to operate in hamiony with nature. producing sustainable and nutritious food that nourishes people and planet. To achieve our aims, we work catalytically and collaboratively, through a combination of high-level lobbying, coalition building, public campaigning. education and media nerking. And we focus on three key pillars of work - farming policy and practi, measuring and valuing sustainability, and public awareness-raising. This report outlines our progress during 202412025 and future plans for our re work areas.
Sustainable Food Trust TRUSTEES, REPORT ACHIEVEMENTS AND FUTURE PLANS 1. Famiin Polic and Practice Barrier to change: The lack of consensus on the nature of future sustainable agriculture, coupled with the absence of an enabling financial environment for famers. continues lo represent the most significant barrier to the transition to truly sustainable food and faming systems. Aim: To build a common vision for future food and famiing systems that nourish the health of people and planet and, through public and private sector engagement, develop a strong business case for the transition. Achlevements durlng the yaar Includad: Financing the agricultural transition- private sector engagement Alongside major food and finance businesses, the SFT is supporting the strategic design of the Sustainable Markets Initiative's {SMII Roots to Regen Pilot. The pilot began in March 2025 and will lake place in the East of England. 11 is designed lo explore how we can shift the balance of financial advantage towards regenerative farming. In Phase 1 of the pilot, up to 100 farmers will be providéd with a 'menu' of financial, technical and peef-tpeer supwt mechanisms to help them to shift to regenerative practices. Blueprlnts for farms of the future- govemment engagement We have sent two briefings to Defra ministers over the past 12 months. the first outlining the SFT'S eight key priorities for food and famiing policy. and the second demonslraling how sustainable food and farming are central lo the UK govemment's five missions. The SFT Policy Director discussed these topics with Daniel Zeichner at the Lal)our Paty autumn conference, receiving positive engagement from the minister. Re-lo¢allsed food systems Defra's fund for smaller abattolrs closed in September 2024 ¥Mlh good uptake thanks lo our extensive outreach work, and we are continuing to worf( with the Defra Small Abattoir Task and Finish Group lo identify solutions to the problems faced by the sector. We affj collaboratsng with the Soil Association, the Rare Bed$ Survival Trust and others in response to the Food Standards Agency's consultation on the removal of subsidies for regulatory checks of businesses in the meal sector. which will increase costs for small aballoirs and could lead lo more closures. As part of this work. we carried out a new national abattoir users survey in March 2025, receiving 1000 responses. We will share the findings with Defra. As part of our collaboration with fellow food and farming NGOS on a Local Food Plan lo grow the local food sector in the UK, the SFT ran a series of online workshops for local food stakeholders and produced a review of local food definitsons and monitoring. Our work has fed into the group's final Action Plan, which will be published in April 2025. and we are committed to driving the report's actions forwards. The role of grazing livestock in regenerative syslems Our new report on the role of grazing livestock in future food systems fomed the basis for a well- received talk al the 2025 Oxford Real Farming Conference tilled 'Grazing for Good? Livestock and biodiversity in the UK,. Research team members have also spoken on the subject of livestock and by-products at the Future Food Syrnposium, GoFalkland and Groundswell. We have advised No Mise En Plastic on sustainable meat sourcing for their new web pages for chets and restaurants and fed into Eating Betterfs report on industrial livestock.
Sustainable Food Trust TRUSTEES, REPORT Awareness-raising at global events The SFT senior team continued to promote our worf( and build consensus on the transition by speaking al and chairing various intemational events over the past year. In September 2024, our Policy Director chaired the Regeneratsve Agriculture Summit Europe in Amsterdam for the second year in a row. Meanwhile, our CEO and Executive Director attended New York Climate Week, and our CEO attended and spoke at COP29 and the World Economic Forum in Davos. Future plans Include: Launch and promotion of our report Grazing Livestock." It's not the cow but the how- SFT'S latest report, which explores how grazing cattle and sheep can form an essential component of truly regenerative farming systems, will be launched in May 2025 alongside a series of short films. We have developed a strong launch campaign and will promote the report at events throughout 2025, including Groundswell. Strategic development of Phase 2 of the SMI Routes to Regen pllot- The second phase of the project will aim to test innovative, new financing options for famiers, created by SMI companies. It will also include the use of common metrics to measure and rewrt on whole fami sustainability as a mandatory element ofthe scheme. True Cost A¢¢ounllng (TCA) research- Building on our reports The Hidden Cost of UK Food and Feeding Britain from the Ground Up. we will use TCA and the Global Fann Metric lo compare the cost and value of sustainable famiing models with intensive ones. Our Executive Director has also been closely involved in preparations for the TCA Global summit. which will lake place in Rome in April 2025. Findings from the event will be used lo draw up a fivevyear action plan. which will help inform the SFT'S new work on TCA in 2025 and beyond. 2, Moasurln and Valuln sustslnablll Barrler to Change: The lack of common framework for measuring fam level sustainability makes il difficult for farmers to assess their impact and impossible for govemmenl. financial inslilulions, and food companies to set meaningful targets and incentivise change. The vast array of labelling and audit schemes also means consumers have no common yardstick to link their purchasing power to supporting sustainable, healthy food production. Aim: To develop an internationally COgniSed common framework for measuring whole fam suslainabilily, enabling the creabon of a shared vision and long-tem) goals for sustsinable food and faming systems, taking into account environmental. social and economic impacts. Achievements during the year included- Global Farm M¢tri¢ frameworft development Findings from our 2024 farm trials, research and collaborations have been used lo inform the creation of the GFM 2.0 framework. This lalesl ileralion of the GFM framework will be released in the commons in spring 2025, accompanied by a series of short reports lo provide scientific justification and reference works. GFM UK trials. research and partnerships Our 2024 UK trials programme was successfully completed across more than 100 famis in collaboration with stakeholders from the retail an(J non-profit seclors, academia and government. One of our key trials was Elms40. where GFM, LEAF and Soil Association Exchange assessments were carried out on 40 UK farms lo explore the role of on-fami assessments in driving behaviour change. Joint recommendatsons from the trial were sent to Defra in December 2024.
Sustainable Food Trust TRUSTEES, REPORT The GFM has been part of a successful bid for a UKRI-funded Land Use for Net Zero (LUNZ) project in partnership with the universities of West England, Reading and Aberystwyth, and the Centre for Hydrology and Ecology, Agrecalc and others. The 5-year project began in autumn 2024 and will explore the Climate impacts of different grassland management systems. The GFM has been included in the University of Reading's Research Excellence Framework, having been identified as a project that demonstrates the quality and impact of the university s research. The framework plays a crucial role in secunng funding for future research and support for publication. We have made a sucSsful application for a Knowledge Transfer Partnership with the University of Reading for the development of GFM-linked leaming materials for undergraduate, master's and CPD modules, which will be delivered through Reading and Aberystwyth universities. GFM Internatlonal trlals, research and partnershlps International farm and landscape Inals of the Regen10 outcomes framework {adapled from the GFM framework) in 11 countries have now completed. and the Rockefeller. Ikea and McKnight foundations have all agreed lo participate in a second phase of the proiecl. which will see our ongoing involvement and have framework development as a key area of focus. The SFT'S Executive Director and CEO visited Kentucky in May 2024 to meet with colleagues from longstanding GFM partner the Organic Associatson of Kenlucky IOAKI and lake part in a wortshop with the famiers involved in their USDA-funded Irials of the GFM framewotk. The first year of the rive-year Kenlucky trials were very successful. with 98010 completion. Unfortunately, the new US govemmenl has frozen all USDA-funded projects and future funding is currently uncertain. The GFM continues to attract strong interest in Auslralla. and lo build upon our partnerships there, we hosted a series of meets'ngs in Perth in partnership with RegenWA in June 2024. In the autumn, we mel with the Australian Govemmenl's trade envoy during her visit to the UK- Australia is looking lo strengthen the profile of ils sustainable agriculture in European markets using on-fami data collection and long-term monitoring and had identified the GFM as a leader in this field in Europe. We have also been approached by Growers Group Alliance in SW Australia who have funding lo investigate the differences behveen regenerative farming practice. policy and reporting standards in Australia and Europe. Our partnership with the Ellen MacArthur Foundation {EMFI on the Big Food Redeslgn Challenge, a project lo demonslrale how food products can be designed in harmony with nature, has proved a big success, with 57 successful enlnes from producers. start-ups, suppliers and retailers from around the worfd. The SFT has been closely involved in judging the 141 products and using the GFM lo assess the use of regenerative practices al fami level. An event showcasing the successful products took place at Fortnum & Mason {one of the retailers who will sell the products) in January 2025, leading to media coverage in 197 articles across 7 countries. Future plans include= Strengthening GFM ¢ommuni¢ation$ In recognition of the large coalition of support for the GFM and the importance of communicating regulady with key partners, we are planning to strengthen the communications team to develop and deliver the GFM'S strategic communications slralegy and manage relalionships. To increase understanding of the GFM and the importance of measuring and valuing sustainability, we are producing several short reports and peer reviewed articles for release in 2025. To nurture a deeper understanding of holistic sustainability across the farming sector, we will be building on the BASIS GFM course for fami advisors following its successful pilot. Following the appointment of our Knowledge Transfer role in partnership with University of Reading, with a focus on 'driving adoption., we intend to develop educational resource packs to provide practical pathways for socialising the concepts of the GFM with largel audiences.
Sustainable Food Trust TRUSTEES, REPORT US trials Following their participation in our 2024 UK trials. with a view lo using the GFM as a vehicle for farmer support and sustainability labelling for Iheir products in the UK, a leading Us-based relailer and wholesaler would like to undertake a similar project with their US horticulture supply chain. GFM application within financial blueprints Following the release of GFM 2.0 we have begun working towards the development of a Framework for Finance to look at the metn'cs and indicators within the GFM that can be used specifically to drive additional investment in farms. European Alliance for Regenerative Agriculture {EARA) coalition We have been approached by EARA to build a pan-European coalition lo re-design the Eu's approach to agricultural subsidies using common measurement and are currently exploring how our involvement in the coalitson could work. Lantralwelsh government pllot project The SFT has been invited by Lantra to submit a proposal to the Welsh Government for a funded pilot project to measure the impacts of horticultural businesses in Wales on climate. nature and soual outcomes and provide evidence and rats'onale for Sustainable Faming Scheme incentives. 3. Informin and ins the ublic about the future of food and farmin Barrler to ¢hange: Widespread uncertainty around the impacts of our current food systems. the type of farming systems we need lo be moving towards to address the health. nature and climate crises. and what individuals can do to be part of the solution. Alm: To facilitate deeper understanding of the story behind our food. enabling people lo make more informed and sustainable food choices and encouraging greater uptake of sustainable farming, through farm visits and events, as well as through our own communication channels and by working with others. Achlevements durlng the year Included: Beacon Farms Network Our Beacon Famis Network, which aims lo empower farmers lo connect young people and adults with the story behind their food, was launched in July 2024 via a Ihree-day event on our CEO'S farm, bringing together famers, educators and policy makers. The event solidified the involvement of our founding Beacon Fami members. including Rosuick Farm in Comwall. Jamie's Fami in Somersel, Torpenhow Organic Dairy in Cumbria, Honeydale Farm {FamiEdl in Oxfordshire, Shimpling Park Fam in Suffolk, Dagenham Fam in East London and Home Fam in Dorset, among others. Since then, over 40 famis from across the UK, including livestock. arable, horticultural and mixed, have signed up to join the network, with many others expressing an interest. We have also been working closely with The Harmony Project on a Beacon Farms Schools, Pilot - to develop a range of curTiculum-linked educabonal resources to support famers in hosting primary school visits, induding a guide for famiers and teachers, and activity booklets for children lo use during farm visits. We have coordinated over 40 school visits to farms this summer term. Most of the schools involved in the pilot are in urban areas, and for many children, this may be their first visit to a working fami. We estimate that during the summer temi alone. we will reach 1,200 children from across the UK. The Green Social Prescribing project We have obtained funding lo continue this project into 2025, working with tr40 Beacon Farms close to Bristol, and a fam near to Stroud. Part of the funding will be used to carry out further evaluation of the project's outcomes and sustainability, and to create a handbook to help people set up similar projects in other areas of the UK. So far, over 50 individuals from deprived Uan areas have been able to take part in the programme, and feedback from participants and farmers continues lo be incredibly posits've.
Sustainable Food Trust TRUSTEES, REPORT Outreachlcommunications The SFT comms team has been working with Freuds communications agency lo strengthen our comms strategy and forge new media connections. This has led lo various speaking and media opportunities and enabled us to greauy enhance our CEO'S presence on Linkedln. He now publishes regular thought pieces on the platform. leading to over 100.000 impressions so far and a 31.4010 rise in followers. In 2024 we ran a supporter survey to gain a greater sense of the interests and motivations of our supporters. We received more than 300 responses, which will be used to develop our comms and fundraising work. The lalesl series of the SFf podcast launched in February 2025, beginning with an episode wlh Danielle Nierenberg, President of Food Tank. Our senior team have been invited lo take part in a large number of local and national events In the UK over the past year, including.. 'The Future of UK Agriculture. Plant Science. Soil Science and Regen Farming, organised by the University of Cambndge., a roundtable event at Highgrove organised by the King s Foundation on balancing urban and rural land use., the Waitrose Farming Conference., Marches real Food Convergence; Goodwood Health Summit.. and The Royal Welsh Show. Our CEO has been filmed speaking about food and fam)ing as part of an Amazon Prlme documentary on the King's Hamony Project, which will be released in late 2025. We are also continuing lo speak with Big Picture Ranch about the third film in their regenerative agriculture series, Groundswell, most recently meeting with the producers al New York Climate Week 2024. Future plans Include: Beacon Farm$ - Following the Suc$$fUl launch event at Holden Fami Dairy in 2024, we are planning a further weekend-long event on our CEO'S fami for network members this summer. One of our Beacon Farm members is also planning lo represent the neOrk by taking part in LEAF'S Open Farm Sunday. We are also in the process ofexpanding the number offarm profiles on our website and will be adding lo these with richer media conlenl. including film and photography. and eventually an interactive map showcasing all of the Beacon Famis. Beacon Farm$ S¢hool$' Pllot - We aim to facilitate more visits and engage an even greater number of schools as we move through the year and into next. We are also developing questionnaires for children to measure the impact of faTh visits on their understanding of food production and ils impact on nature and health. Big Give Green campaign - We have made a successful application to take part in this fundraising campaign, which will take place in April 2025 and provide a vital opportunity to communicate our work to the public and raise money for our projects. As part of the campaign, we are planning to create and release a series of short films to showcase key SFT work areas, which can also be used in future fundraising campaigns.
Sustainable Food Trust TRUSTEES, REPORT DELIVERING PUBLIC BENEFIT The trustees have referred to the information contained in the Charity Commission's general guidan on public benefit when reviewing the Charity's aims and objectives and in planning its future activities. All of the SFTS work is directed towards meeting one or more of the Charity's purposes, as described at the start of this report. It is our belief that these purposes will be best served by a return to more integrated and holistic food and famiing systems. Research has shown that such systems deliver greater protection of the environment, more prudent use of natural resources and greater health benefits than their intensive and industrialised counterparts. However, further research is needed to clarify and confinn certain aspects of this. Advancing the case for this research is an ongoing concem for the SFT, with priorities for further research being the role of regenerative agriculture practice as part of the climate soluts'on.. sustainability metrics and valuation frameworks for measuring food systems impacts,. connecting sustainability and heallh-implicab'ons for dietary advice; and Measu ment of soil carbon and ferblity. As described in section 3. there remains a significant need to improve public understanding of the benefits of sustainable food and farming and the nature of the transition that must urgently take place. For this reason, communication and awareness raising to empower citizens. govemmenls and businesses to ad will remain a core pillar of our work. GOVERNANCE AND MANAGEMENT The SFT is a company limited by guarantee and was incorporated on 24th March 2011. It became a registered charity with the Charity Commission for England and Wales in August 2012. The company was established under a set of Articles of Association, which set out the objects and powers of the organisation. In the event that the company is wound up. members are required to contribute an amount not exceeding £1. During the year, a new trustee policy was adopted. this includes a slipulalion that the standard period of service for each trustee would be three years, with each trustee being requested to stand for re-election after seNing for this length of time. In any instance that a trustee serves beyond a nine-year period, we will report on this in the Annual Report. There is one trustee that has served for longer than nine years. Peter Segger remained on the board to help bring historical context to SFfs governance. and because of his exceptional understanding of the SFT'S position food and famiing issues. Peter stood down in July 2025. The 1CtorS of the company a also the trustees of the charity. Trustees have control of the organisation, its funds and assets, and are responsible for overall strategic and operational management. They are not subject to retirement by rotation and there are not fixed periods of sel¢e. All trustees give their time voluntarily and receive no benefits. They are inducted and trained by other trustees and in consultation with the Chief Executive. Day to day management of the organisation is delegated to the Chief Executive and Executive Director, who manage a team of staff, consultants and intems. The structure of the SFT on 31 March 2025. is shown in fig.1 overleaf:
Sustainable Food Trust TRUSTEES, REPORT Sustainable Food Trust CEO FM Ehfortor ¢5¢¥th GFMTni P4Th4wth&Pd SFA Adm&iKtritor on The SFT'S remuneration procedure stipulates that the pay of all senior staff, including the Chief Executive, is reviewed and set by the Board of Trustees at their regular Board meetings and, as for all staff, should be guided by the principles of intemal equity and extemal parity. Except in instances of staff roles changing, salaries are reviewed yearly and any changes are based on both internal and external factors, including staff perfomiance. We support the involvement of volunteersfintems from time to time, and this year have worked with seven volunteers. Board Meetings lake place every 4 months. Prior to meetings, the Chief Executive's report is circulated along with management accounts and any other relevant documents. In between meetings, the Board is kept up to date with regular emails from the Chief Executive and senior staff. Managlng Rlsks The trustees have assessed the major risks to which the organisation is exposed and are satisfied that systems are in place to mitigate exposure. Policies and procedures have been drawn up to ensure compliance with relevant legislation and enable appropriate authorisalion of transactions and activities. The Board has identified the top three risks posed lo the organisalion. which are outlined in Ihe table overleaf, along with the controls that have been put in place to mitigale those risks. Our lop three risks are those which we deem to have the highest number of influencing factors which are external and thus not directiy or easily managed by SFT. 10
Sustainable Food Trust TRUSTEES, REPORT Risks Loss of key staff Controls Im lemented Plans and projects documented to enable effective handovers. Staff reviews carried out at least annually, with opportunities to raise issue in between. Remuneration levels bear the imwrtance of staff retention in mind. and procedures are set to ensure internal equity and extemal parity. Staff kept up to date with organisational developments and are actively en edinor anisational lannin and strat ic develo ment. Fundraising plan developed and regulady updated. System in place to monitor and record outcomes of funded activities. Income streams diversified where possible, although this is weighed up against time and resources available to cultivate new potential funders. Major funders briefed on prjreSS regularfy. Head of Strategic Partnerships role created with a focus on donor care. Funder temis and conditions reviewed carefully and complied with, includin dates for re rtin back. Legal and Regulatory changes monitored and action taken accordingly. Poor relationships with funders or unsatisfactory returns on fundraising Government policy has negative impact Fundralslng All fundraising carried out by the Sustainable Food Trust is done under the direct guidance of thè Chief Executive and Executive Director. They keep in regular contact with major donors and have close involvement in the preparation of grant applications. Other staff involved in fundraising include the Operations Director. Global Fami Metric Director. Head of Strategic Partnerships and Head of Projects. The SFT does not use extemal professional fundraisers. and neither the organisation nor any of its staff subscribe to any fundraising standards scheme. We do not employ heavy-handed or unreasonably persistent approaches lo fundraising, and whilst we invite donations through our website. we do not actsvely pursue our supporters with direct requests. During the year. Ihe Charity did nol receive any complaints about its fundraising activities. FINANCIAL REVIEW Funding Sources The SFT seeks to secure funds from diverse sources. induding trusts. foundations and individual donors. During the year, 680/0 of funds Vre secured from trusts and foundats'ons, 100/0 from individual donors, and 22 /0 from consultancy and other fees. Results and Financial Position The SFT has a stsble financial position, with our unreslricted reserves growing consistently. Total income for 2024125 was £1,739,427 and expenditure was £1,582,225 giving a surplus of £157,202. The majority of the surplus in the year was represented by increased support from trusts and foundations meaning our unrestricted funds increased by £443.979 (included within this surplus are funds equating to £294,000 of accrued income relating to mulb-year funding received in advance) therefore meaning unrestricted funds, less accrued income has increased by £149,979. The majority of funds came from the UK and US.
Sustainable Food Trust TRUSTEES, REPORT We work in partnership with the Sustainable Food Alliance. a US 501 {c)(3) organisation which shares our mission and aims. The SFA acts as a fiscal partner for our fundraising endeavours in North America, with 30/0 of the SFT'S funding in 2024125 being derived from tnjsts. foLJndations and donors in the US. 580/0 was from tnjsts, foundations and donors in the UK. In 2023124. these figures slood at 20 % from Ihe US. and 470A from the UK, so the balance shifted more towards the Uk during the year, along with greater contract income 1Ved in the year. At the start of the new financial year (2025126), we had 40Yo of funds required for the year secured - which is 20°/. lower than the same time the previous year. Our situation requires an ongoing and diligent approach to fundraising and budget management. and at the start of the new financial year this required an increased focus on fundraising. By July 2024, the percentage of funds secure had increased to 56%. which was closer to our target (of 65010) for that time in the year. Rosarves Pollcy The Board of Trustees has examined the organisation's requirements for reserves in light of the main risks to which it may be exposed.11 has established policy whereby unrestricted funds not committed or invested in tangible fixed assets should ideally be maintained at a level equivalent to four to six months, worth of expenditure, which equates to between £530.000 and £791,000. As of 31 March 2025, our total unrestricted $ernes stood at £1,074,561, with free reserves {after deducting the value of fixed assets) being £1,067,101. This is currently above our target range and represents approximately eight months of expenditure. It is important to note that this figure indudes £294.000 of accrued income relating lo mulli-year funding received in advance. Ajlhough this funding is allocated to future aclivilies. it remains within unreslricled reseNes until spent. This contn'butes lo the higher reserve level and reflects prudent financial planning lo ensure continuity of operations and delivery of long-term projects. In respect of the 2024125 financial year, at March 2024 the intention was lo achieve a surplus with a view lo growing unrestricted reserves by approximately £35k. Our reserves are expected to enable the organisation to retain some stability in tems of staff and work capacity over the next 2-3 years, without putting the organisation at undue financial risk. Reserves are needed to safeguard the work of the SFT and the board of trustees are confident that at this level they would be able to continue the main core services in the event of a significant drop in funding. The reserves policy was most recently revisited during the 2021122 financial year and deemed to be at the appropriate level. The trustees actively monitor the financial perf0rrnan of the SFT and consider at every board meeting the exient to which activities and expenditure might need to be curtailed should circumstances arise that would require this. If there is any uncertainty during 8 scheduled board meeting, an additional process is triggered in which the board receive an interim financial report with recommendations. Disclosure of Trustee Donations The aggregate Trustee donations to the charity was £100,000 {2024.. £Nil}. 12
Sustainable Food Trust TRUSTEES, REPORT STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees (who are also directors of Sustainable FOCMJ Trust for the purposes of company law) are responsible for preparing the Trustees, Report (incorporating the strategic report and directors, report) and the financial statements in accordan with 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 Accepted Accounting Practicej. Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the slate of affairs of the charitable cx)mpany and of the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistently- observe the methods and principles in the Charities SORP- make judgment5 and accounting estimates that are reasonable and prudent., state whether applicable UK Accounting Standards have been followed. subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of Ihe charitsble company and enable Ihem to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corrat8 and financial inforniation included on the company s website. Small Company Provlslons This report and the financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting and Reporting by Charilies" and in accordance with the special provisions of the Companies Act 2006 {s419{2)) relating to small entities. Approved by the Board of Trustees on 27th November 2025 and signed on its behalf by.. y lJa(¢J Pa Lady (Janel Parker, Chair 13
Sustainable Food Trust INDEPENDENT AUDITOR'S REPORT INDEPENDENT Au0OR.5 REPORT TO THE MEMBERS OF SUSTAINABLE FOOO TRUST Opinion We have audited the financial statements of Sustainable F(K>d Trust Ithe -Charity-I for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of siEnifi¢ant 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 Iunited Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements= give a true and fair view of the state of the CharlS affairs as at 31 March 2025 and of its income and expenditure for the year then ended.. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnSon We conducted out audit in accordance with international Standards in Auditing IUKI IISAS IUKII 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. Concluslons relatlng to golng concern In auditing the financial statements, we have concluded that the director5, Use of the 80ing concern ba515 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 responsibilitie5 of the director5 Wlth respect to going concern are described in the relevant sections of this report. 14
Sustainable Food Trust INDEPENDENT AUDITOR'S REPORT Other information The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial Statements and our auditorfs report thereon. Our opinion on thefinancial statements does not coverthe other infom)ation and, except tothe extent otherwise explicitly stated in our report, we tlo not express any form of assurante conclusion thereon. In connertion with our audit of the financial statements, our responsibility is to read the other information and, in doing $0, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If based, on the work we have performed. we conclude that there is a material misstatement of this other information, we are required to report the fart. We have nothing to report in this regard. OpSnSons on other matters prescrlbed by ihe Companles Art 2006 In our opinion, based on the work undertaken in the tourse of the audit.. the information given in the Irustees, report lincorporating the directors, report) for the financial year for which the financial statements are prepared is consistent with the financial statements,. and the directors, report has been prepare(J In accordance with applicable law requirements. Matters on whlch we are requlred to report by exceptlon In the Ilght of our knowledge and understanding of the charitable company and Its environment obtalned In the course of the audit, we have not identified material misstatements in the directors, 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.. adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us- the financial statements are not in agreement with the ac¢ountinB record5 and return5,' certain disclosures of trustees. remuneration specified by law are not made,. or we have not obtained all the information and explanations necessary for the purposes of our audit,. or the trustees were not entitled to prepare the financial statements in accordance with the small companies, regime and take advantage of the small companies, exemptions in preparing the directors, report and from the requirement to prepare 3 strategic report. 15
Sustainable Food Trust INDEPENDENT AUDITOR'S REPORT Responsibilities of trustee5 As explained more fully in the tru5tees' responsibilitie5 5tstement, the trustee5 are responsible for the preparation of the financial statements and for being 5at15fied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material mi55tatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the Charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so. Auditoes responsibilities for the audlt of the financlal 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 auditorfs 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 IUKI 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 decision5 of user5 taken on the basis of these financial statements. Our approach to identifying an(J assessin8 ihe risks of material misstatement in respect of irregularities, includlng fraud and non-compliance with laws and regulations, was as follows: we identified the laws and regulations applicable to the charity through discussions with those charged with governance and other management. and from our knowled8e and experience of the 5ector,' we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements of the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery. employment, pensions, environmental and health and safety legislation- and we assessed the extent of compliancewith the laws and reBulations identified above through making enquiries of management. inspecting legal correspondence and remaining alert during the audit for any indications of non-compliance. Our audit procedures in relation to fraud included but were not limited to= making enquiries of those Charged with govemance and other management as to where they considered there was susceptibility to fraud. their knowledge of actual. suspected and alleged fraud: discussing amongst the engagement team the risks of fraud,. gaining an understanding of the internal controls in place to mitigate risks of fraud and non- compliance with laws and regulations.. testing journal entries to identify unusual tran5actions- assessing whether judgements and assumptions made in determining the accounting estimates set out in the accounting policies were indicative of potential bias,. and investigating the rationale behind 518nificant or unusual transactions. 16
Sustainable Food Trust INDEPENDENT AUDITOR'S REPORT There are inherent limitations in our audit prcKedures described above. The more removed that laws and regulation5 are from financial transactions, the less likely it 15 that we would become aware of non- compliance. Auditing standards also limit the audit procedures required to identify non-compliance with law5 and regulations to enquiry of the directors and other management and the inspection of regulatory 3nd 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 for the audit of the financial statements is located on the Financial Reportin8 Council's website at www.frc.or auditors audit-assuran¢e-ethics auditors- res onsibilities-for-the-audit. This description forms part of our auditorfs report. Use of our report This report is made solely to the Charitrfs 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 Charitvs members those matters we are required to state in them in an auditorfs 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's members as a body, for our audit work, for this report, or for the opinions we have formed. o¢Kv4 iLr*J Joshua KSn8ston FCA (Senlor Statutory Audltor) For and on behalf of Burton Sweet Limited Statutory Auditor The Clock Tower 5 Farlelgh Court Old Weston Road Flax Bourton Bristol BS48 IUR Date.. 27 November 2025 17
SUSTAINABLE FOOD TRUST STATEMENT OF FINANCIAL ACTIVITIES IINCLUDING INCOME AND EXPENDrruRE ACCOUNT) YEAR ENDED 31 MARCH 2025 Unrestricted Restricted Total funds Funds Funds 2025 Total funds 2024 Notes Income and endowments from-. DonatDns and grants Charitable actwf(ies Other trading activities Investments 1.158.306 327.316 20.(M)O 228.761 1.387,067 327,316 20.000 747,994 595,595 20,000 3,690 Total income 1.510.666 228,761 1.739,427 1,367,279 Expgnditure on: Charitable aclNf(ies 1.148.738 433.487 1.582,225 1.651.947 Total expgndlture 1.148.738 433,487 1.582,225 1,651,947 Net Incomel{expendlturel 361.928 1204.7261 157.202 1284.6681 Transfers b¢twe•n funds 15 62.051 {62.0511 Net movement In funds 423.979 1266,7771 157,202 1284,6681 Total funds brought forward 15 650.582 310,989 961.571 1,246,239 Total funds carrlod foTh¥ard 15 1.074.561 44,212 1.118.773 961,571 The comparatwe Statement of Fnancial ALtivty i8 detaId in note 8. The company has no recogntsed gains or h)sses other than the results for the year as set out above. l of the actNitEs of the company are cfassed as ¢onlinuing. The noto5 on paggs 21 to 31 form part of theso financial Statements 18
SUSTAINABLE FOOD TRUST BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Notes FSxed assets Tangible assets 7,460 8,179 Current assets Debtors Investments Cash at bank 10 312,395 100,000 766,682 1,179,077 369,223 931,542 1,300,765 Creditors: Amounts falling due within one year 11 167,7641 1347,3731 Net current assets 1,111,313 953,392 Total net assets 1,118,773 961,571 The funds of the charfty: Restricted funds Unrestricted funds 16 16 44,212 1,074,561 310,989 650,582 1,118,773 961,571 These fin8nckql statements were approved and sb3ned by the directors and authorised for i8sued on 27th November 2025. Lady lJanel Parker - Trustee Company reglstratlon number07577102 The notes on pages 21 to 31 fomi part of these financial statements 19
SUSTAINABLE FOOD TRUST CASH FLOW STATEMENT YEAR ENDED 31 MARCH 2025 2025 2024 Notes Net cash inflowl{outflow) from operating activities 13 166.310) 199,100 Non-operational cash flows: Investing activities Purchase of fixed assets Purchase of investments Investment income {3,5941 1100,0001 15,1661 3,690 Net cash Inflowl{outflow) for the year 14 1164,860 197,624 Cash flow restrlctlons Charity Lgw forbids the use of nel cash intlows on any endowed or other restricted fund to offset net cash oufflows on any fund ovtsKle ils own Objects, except on speckgl aulhority. In praclte this restriction has not had any effect on cash Il)ws for the year. The noto5 on paggs 21 to 31 form part of theso financial Statements 20
SUSTAINABLE FOOD TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 1 Accounting Policies al Basis of preparation The financial statements have been prepared in accordance wi(h the histor81 cost convention {excepl where otherwise slated in the accounting poIY note) and in accordance with Ihe Stslemenl of Recommended Practice.. Accounting and Reporting by Charrties preparing their accounts in accordance with the Financk41 Reportj'ng Standard appIab in the UK and Repub&c of IreLAnd IFRS 102) issued in October 2019, and the Financk21 Reporting Standard appIab in the United Kingdom and Republ of Ireland IFRS 1021, and the Companies Act 2006. The charity is a public benefrt enltty as defined under FRS102. The Trustees consijer that there are no malerral uncertainties about the charty's abilfty to continue as a going concern. Whibt the Trustees expect there to be a sbJnffjcanl impact on the charty's OperatnS in the coming months and years due lo the current econom clynate. the charty has sufficEnl reserves and support to be able lo meet these challenges. b) In¢omo Income is accounted for as receab once there is a reasonab certainty of the probab economic benefit from the resource and the amount can b8 relkgbty measured. Income from donatM)ns is included when these are receThiable, except as folk)ws: l. When donors specrfy Ihal donattins gNen to the charty must be used in fvture accounting periods, the income is deferred until those perhJJs', 11. When donors impose conditions which have to be fijW1 before the charty becomes enlilled to use such income, the income is deferred until the pre-conditi)ns have been mel. Grants, including grants for the purchase of red assets, are reccgnised in the ncome and exp8ndf(ure account as they become receTriable. Grants receNed in Ihe accountrig perirxl in respect of future accountlng periods are deferred until those periods. Grft aid relief on eligible donath)ns is reccgni8ed on an accrua15 basis at the same point as the orHJinal donation. Grfts in kind are valued al estimated open market value at the dale of the grft, in the case of assets for retention or consumptn, or at the value to the organisatn in the case of donated Ser¥eS or facilities. ¢1 Expenditure Expenditure is accounted for on an accruals basis and has been classffied under headings that aggregate all cost related to the category. Support costs and where costs cannot be direct attributed they have been allocated lo aclivtties on a basis consi8lent wtth the use of the resource. Governance costs are the costs assockqted with meeting constiiutK)nal and statutory requirements of the charty and include the independent eXaMinatn fees and costs linked to the Strateg management of the charty. Governance costs are included within supwt costs. d) Transactions in foreign currencies Transactions in foreKJn Currenc are recorded at the rale ruling at the dale of the transactKTrn. Monetary assets and liabilitEs are retranslated at the rate of exchange ruling at Ihe baknce sheet dale. Al exchange drfferences are taken to the SOFA. 21
SUSTAINABLE FOOD TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 1 Accountlng Pollcles (contlnued) el Fund accounting Unrestricted funds contain accumuL8ted surplus and deIts on general funds and can be used in accordance with the company objects at the discretn of the Board of Directors. Restricted funds represent monies received for Speerf purposes. AJI income and expenditure relating to the restrted funds, movements is included in the income and expenditure account. Further detsils of restricted funds are shown in note 14. Fixed assets Fixed assets are held al cost less accumulated deprecIatn. Assets costing less than £500 are not capf(alised. Depreciation is calcu18ted so as to write-off the cost of an asset. less its estimated resU£l value. over the useful economic lrfe of the asset as folk)ws'. Fixtures, fittings and equipment 250A Straht Ine g) Trade debtors Trade debtors are rec¢)Jnised initially al the transactn price. They are subsequenlty measured at amorlised cost using the effectwe interest method, $$ provi%K)n for impairment. A provisK)n for the impairment of trade debtors is established when there is obFclNe evwjence that the company will not be able lo collect al amounts due according to the original terms of the receivables. h) Cash and cash equlvalents Cash and cash equivalents comprise cash in hand on-call deposits, and other short-term highly liquid investments that are readity convertible to a known amount of cash and are subject lo an insgnrficant risk of change in value. il Trado Creditors Trade credf(ors are oblwJalions lo pay for gocNJs or services that have been acquired in the ordinary course of business from SupplrS. Accounts payable are cLgssrfEd as current habililies rf the company does not have an uncondib'onal right, al the end of the reporting perK)d, lo defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditK)nal r5ht to defer settlement for at least twefve months after the reporting dale, they are presented as non-currenl 1kqbilit$. Trade creditors are recognised inrtkqlty al the transactn pre and subsequently measured al amortised cost using the effectDie interest method. Jl Penslons The charty has arranged 8 defined contributM)n scheme for its staff. PenSn costs charged in the SOFA represent the conlribulKsns payable by the charty in the per*)d. 22
SUSTAINABLE FOOD TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 2 Donations and grants Unrestricted Restricted Funds Funds Total 2025 Total 2024 DonalK)ns Gffiaid 1.158.018 228.761 1,386,779 288 745,882 2,112 1.158.306 228,761 1,387,067 747,994 Prior year comparative Unrestricled Restricted Funds Funds Total 2024 DonalK>ns Grftaid 319.271 2.112 426,611 745,882 2,112 321.383 426,611 747,994 3 Income frorn charitable activities Unrestrlcted Restrlctgd Funds Funds Total 2025 Total 2024 True cost accounting & suslainabilty metrics Leadership & collaboratn Others 317,279 317,279 584,349 6,071 5.175 10.037 10,037 327.316 327,316 595,595 The income from charTtabk8 aCtNit in the prr year was comprised of onty unrestrted funds. 23
SUSTAINABLE FOOD TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 4 Expenditure on charitable activities Staff Costs Direct Costs Support Costs Total 2025 Tot81 2024 True cost accounting & suslainabilty metrics Leadership & collaborath)n Research Aballoirs Project ComMunicatnS 475.476 221.035 166.629 863,140 365,463 147,230 45.734 160,658 1,582,225 1,147,728 223,744 120,407 43.113 87,350 950.090 112.888 9.267 432 50,349 393.971 28,831 17,556 2,189 22,959 238,164 205,577 125,439 15,530 157,673 1,651,947 Prlor year comparatlve Staff Costs Direct Costs Support Costs Total 2024 True cost accounting & suslainabiif(y metrics Leadership & coll8boratw)n Research Aballoirs Project CommunicatKJns 626.953 354,989 165,786 1,147,728 125.419 93,604 4.208 86,210 51.472 14.368 9.144 48.621 28,686 17,467 2.178 22,842 205,577 125,439 15.530 157,673 936.394 478,594 236,959 1.651,947 5 Support ¢ost8 Staff Proml$es Costs Costs Offlte Costs Total 2025 Total 2024 True cost accounting & suslainabilrty metrics Leadership & collaboratn Research Aballoirs Project Communicath)ns 111.964 20.091 34.574 166,629 28,831 17,556 2,189 22,959 165,786 19.373 11.796 1,471 15.427 3.476 2.117 264 2.768 5,982 3,643 454 4,764 28,686 17,467 2,178 22,842 160.031 28,716 49,416 238.164 236,959 24
SUSTAINABLE FOOD TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 5 Support costs {continued) Prior year comparative Support costs Staff Premises Costs Costs Office Costs Total 2024 True cost accounting & suslainabilty metrics Leadership & collat%)ratKJn Research Aballoirs Project CommUnicatnS 71,302 19,162 75,322 165,786 12.337 7,512 937 9,824 3.316 2.019 252 2.640 13,033 7,936 989 10.378 28,686 17,467 2.178 22,842 101,912 27.389 107,658 236.959 6 Net incomellexpenditure) for the year Total 2025 Total 2024 Slated after charging.. Depreciation Audrtor's fees.. Audit 4.313 4,158 8,500 8,400 7 Staff costs and numbers Total 2025 Total 2024 Th& aggregat6 payroll costs were- Wages and salaries Social security costs Pen$KJn costs Redundancy costs 951,179 104,244 37.648 17,050 910,532 100,517 27,257 1.110,121 1,038.306 The number of employees whose total employments beneffts (excluding employer ponsion costs) for the reporting period were in excess of £60,000 fall within the bands as folk)ws'. Total 2025 Total 2024 £90,000 - £99,999 £140,000- £149,999 25
SUSTAINABLE FOOD TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 7 Staff costs and numbers (contlnued) The total employment benefts receNed by key management personnel in the year were £523,49212024: £518.380}. The average number Iheadcount) of empbyees in the year was as folbws: 2025 No. 2024 No. Empkjyees 21 20 No Iruslees receNed reMuneratn or were relnbursed expenses in the current or prior year. 8 Comparative Statement of Financial Actlvlty Unrestricted Restricted Total funds Funds Funds 2024 Income and endowmonts from: Oonalions and grants Charitable Activities Other trading actThii(s Investments 321,383 595,S95 20,000 3,690 426,611 747.994 595,595 20.000 3,690 Total In¢omo 940,668 426,611 1,367,279 Expendlturo on: Charitable aclwrties 1,017,633 634,314 1.651,947 Total expendlturo 1,017,633 634.314 1,651,947 Net Incomellexpendlture) Transfers between funds 176,9651 1207,7031 1284,6681 27,053 {27,0531 Net movement In funds 149,9121 1234,7561 1284,6681 Reconclllatlon of funds: Total Funds brought Forward las preVU$ stated) Prior year reslatemenls Total funds brought forward Total funds carried forward 615,386 85,108 700,494 435,745 110.000 545,745 1,051,131 195,108 1,246,239 650,582 310,989 961,571 26
SUSTAINABLE FOOD TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 9 Tangible fixed assets Fixtures flttings & equipment Total Cost Al 1 April 2024 Addi(K)ns 28,648 3.594 28,648 3.594 Al 31 March 2025 32.242 32,242 Depreciation Al 1 April 2024 Charge for the year Al 31 March 2025 20.469 4,313 24.782 20,469 4,313 24,782 Net book value Al 31 March 2025 7,460 8.179 7,460 8,179 Al 31 March 2024 10 Dobtors 2025 2024 Trade debtors Prepayments and accrued income Other debtors 250 302,745 9,400 12,395 42.300 320,567 6,356 369,22 11 Credltors: amounts falllng due wlthln one year 2025 2024 Other creditors Accrua Deferred income (Note 121 Taxation and social security costs 21,358 17,461 52,798 47,968 224,511 22,096 347,373 28,945 67,764 12 Deferred Income 2025 2024 Balance brought fotvlard Amounts deferred in the year Arnounts reaSed lo income in the year 224,511 308,251 236,694 1320,4341 1224.5111 Balance Carrd forward 224,511 27
SUSTAINABLE FOOD TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 13 Reconciliation of net movement in funds to net cash inflow from operating activities 2025 2024 Statement of Financial ACtNit.. Net movement in funds Depreciation Investment income Decrease in creditors Decrease in debtors 157,202 4,313 {5,0441 1279,6091 56,828 1284,6681 4,157 13,6901 1107,8481 591,149 Net cash Inflow from operntlng actlvltles 66.310 199,100 14 Analysls of changes In cash durlng the year 2025 2024 Change Cash at bank and in hand 766,682 931,542 164,860 2024 2023 Change Cash at bank and in hand 931,542 733,918 197,624 15 Movement In funds At 1 Apr 2024 At Transfers 31 Mar 2025 Income Expendrture Restrfcted funds True cost accounting & sustainabilty meIrS Clear Research Leadership & CollaboratK•n Collaborating for Impact Reta Li18 Howard Found8tK)n Social Prescribing Project Sustainable diets and farming Communicatp)ns 120.130 37,000 1133,6301 {4,6411 (3,0601 1155.8801 {16.2541 {60,8641 (23,5001 5.5 859 244 19J.144 14,4741 {34,2641 40.0 75,(NJO s,0 23,746 14,136 5,000 471 471 187 {62,0511 310.989 228,761 1433.4871 44,212 Unrestricted funds 650.582 1.510.666 {1.148.7381 62.051 1.074.561 Total funds 961,571 1,739,427 {1.582,2251 1,118,773 The transfers al represent the realthatn of Overhead costs incurred across each restricted fund. 28
SUSTAINABLE FOOD TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 15 Movement In funds (contlnued) At 1 Apr 2023 At Transfers 31 Mar 2024 Income Expenditure Prior year comparative Restricted funds True cost accounting & sustainabilty MeIrS Research Leadership & CollaboratK)n Sustainable diets and farming DonatnS 445.030 208.500 1527.5401 15,8601 120,130 244 11XJ,O 471 7,2 210.0(X) {3,0601 1102,8931 (4,2301 (16.9631 244 190,144 471 821 426,611 18211 1634,3141 545.745 {27,0531 310,989 Unrestrfcted funds 7CQ.494 940.668 {1.017.6331 27,053 650,582 Total funds 1.246.239 1.367.279 {1,651,9471 961,571 Restricted funds Leadershlp & Collaboratlon - Income represents grants given towards the SFT'S work on devek)ping the leadership and communication facets of the Organisatn. wrth a parlruLqr focus on recruilmenl and retention of kev stsff. True cost accountlng & sustalnablllty rnetrlcs Income represents grants given towards the SFT'S strategic work on True Cost Accounting and the Gk)bal Farm metr proie¢t. The transfer out in the year relates lo applicable costs paid out from general funds. Research - Income represents grants gNen towards the SFT'S work on a Grazing Livestock rewrt. Sustalnable dlets and familng- Income represents grants towards c4Jr work on alKJning healthy diets with the productive capacity of sustainable agrultUre. The transfer out relates lo appIab costs pa#Y out from general funds. Clear- represents Funding receNed from the Romshed Charitable trust to Support SFT delNery on the CLEAR consortium including a Strateg revBw. Collaboratlng for Impact - represents funding received from Esmee Fairbairn and Rothschild FoundalDn in order for a core groups of UK based NGO;s accelerate the transitn to agr0ecologal food and farming systems. In choosing the term agroecobgy. we aim to encompass farm practices. food systems and soc1 issues. We are now working together lo devebp a joint slralegy and a funding proposrtM)n whrh will secure our future and strenalhen our imDact between now and 2030. Reta Llla Howard Foundatlon - The purpose of the grant is to further Sustainable FcN)d Trust's work in doveloping a tempL4le to enable farms lo acl as eduCatnal plafforms (Beacon Farms). Social Prescribing Project - represents funding recewed from The D'oyty Carte charitab Trust to support on-farm qreen social prescribinq to improve indwKlual heaf(h for indNKluals in the Bristol area. Communications - Represents funding receNed fromt the Sustainable Foo Ajliance to contribute lo our work on inspiring, informing and educating the publ. Our work in thi8 area is intended lo overcome a Signrfant barrier lo change.. that mass confusion has created uncerlainty around the impact of our current food system, the type of farming systems we need to be moving forwards, and what indwiduals can do to be part of the ¢nli Itin 29
SUSTAINABLE FOOD TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 16 Analysis of net assets between funds At 31 March 2025 Tangible Other Fixed assets Net assets Total Restrlcted funds Clear Co118borating for Impact Reta Lila Howard FoundatK>n Social Prescribing Project Sustain8ble diets and farming 859 23,746 14.136 5.000 471 44.212 859 23,746 14.136 5,000 471 44.212 Unrestrfcted funds 7,460 1.067.101 1,074,561 7,460 1.111.313 1,118,773 Tang5blo Othor Flxed assets Net assets At 31 March 2024 Total Restrfcted funds True cost accounting & sustainabilty metrics Leadership & Collaboration Research Sustainable diets and farming 120.130 1,144 244 471 310.989 120,130 190,144 244 471 310,989 Unrastrfcted funds 8,179 642.403 650,582 8,179 953,392 961,571 17 Company limited by guarantee The Company is limrted by guarantee and as such has no issued share caprtal. In the event of the company being wound up the liabilrty of the members ks limi(ed £1 each. 18 Related party transactlons Patrick Holden, Chf ExecutNe of the charity, is the ExecutNe Director of The sustainab Food Aliance Inc. USA in the year and has disck)sed hi% interest in Sustainable Food Trust. The charty recewed income of £56.971 in the year12024'. £165.8081 from The Sustainable FcK*J Alkgnce Inc. USA Patrick Hokyen owns the rentsl property in which the charty operates. A rent of £17,163 was pa¥Y by the charity in the year12024.. £17,163). At the year-end £nil was outstandgI2O24- £Nill. Arb Brady, Trustee of the Chairty, is the Chf Executive officer of the Freuds CommUnicatnS limited in the year and has disclosed his interest in sustainab Fwd Trust. The charty has incurred expendf(ure of £45,000 in the year12024..£10,(M)01 for Consuttancy serve$ in year as permitted by governing document. At the year end £nil was outstanding {2024 - £15.000) The aggregate trustee donali)ns lo the charty was £100.(MJO12024'. £nil). 30
SUSTAINABLE FOOD TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 19 Commitments Al the year end the charity had the folk)wing commitments as part of ongoing contracts 2025 2024 UnThiersty of Reading Freuds 36,171 54,000 90,171 31
SUSTAINABLE FOOD TRUST MANAGEMENT INFORMATION YEAR ENDED 31 MARCH 2025 Tho followlng pagos do not fomi part of the statutory flnanclal stat•m•nts 32
SUSTAINABLE FOOD TRUST DETAILED STATEMENT OF FINANCIAL ACTNMES YEAR ENDED 31 MARCH 2025 Unrestricted Funds Restricted Funds Total 2025 Total 2024 Income from: DonatiTOllS and grnnt$ DonatK)ns Sustainable Focxy Aliance Esmée Fairbairn General grants Prudence Trust Poslcode Lollery Rothschild Foundatb)n CHK WFes¢o Kings foundations Rela LiLq Howard Kings Circle Grants Gifts in kind Grft a 78.018 12,500 56.971 20,000 7.290 90,518 56,971 20,000 7,290 54,284 147,299 135,799 200,000 109,000 37.000 20.000 37,000 820,000 80.000 800,CKJO 80,(M)O 99,500 100.1]00 100,000 75,000 100,000 75.000 100,Crf)O 288 2,112 Charltable actlvltles Consultancy Coproate Partnerships Nalwest Speaking events 91.419 85,694 137.817 12.386 91,419 85,694 137,817 12,386 267.289 320,435 7,871 Other tradlng •¢tlvltles Managementfees 20.C 20,000 20,000 Investments 3,690 Total Income 1,510.666 228,761 1,739,427 1,367,279 33
SUSTAINABLE FOOD TRUST DETAILED STATEMENT OF FINANCIAL ACTNMES YEAR ENDED 31 MARCH 2025 Unrestricted Funds Restricted Funds Total 2025 Total 2024 Expenditure on: Charitable activities Wages and salaries Consultaney fees Travel and subsistence Rent and rates Office expenses and equipment Training Volunteer costs Events Grants paid out Software TephOne Website Design HR Costs DepreciatKJn Legal and professional fees Exchange gainslbsses Bad debt Sundry expenses Gov•mon¢• Costs Auditor's fees.. 778,704 201.702 43,288 28,715 4.481 871 3,250 6.693 331,421 57.217 29.836 1.110,125 258,919 73.124 28.715 4,481 871 3,250 6,693 1,038,307 434,488 54,674 27,389 5.917 25,506 6,114 6,981 507 18,103 3.346 4.158 3,427 4,853 1741 9,851 8,946 442 23,465 596 4.313 11,315 308 442 36,321 596 4,313 11,315 2,389 12.856 2.081 23,149 76 23,225 8,500 1.148.738 8,500 1,582,225 8,400 1.651.947 Total •xponditure 433,487 Net Incomel{expendlturel 361.928 204,726 157,202 284.668