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 awa￿neSS 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 ne￿rking. 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.

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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-t￿peer 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 B￿ed$ 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.

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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 suc￿Ssful 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.

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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 U￿an areas have been
able to take part in the programme, and feedback from participants and farmers continues lo be
incredibly posits've.

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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 ne￿Ork 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 ￿1￿CtorS 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 se￿l¢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

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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 pr￿jreSS 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 V￿re 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.

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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 cor￿rat8 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 Au0￿OR.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 Charl￿S 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 detaI￿d 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 histor￿81 cost convention {excepl where
otherwise slated in the accounting poI￿Y 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 appI￿ab￿ in the UK and Repub&c of IreLAnd IFRS 102) issued in October 2019, and the
Financk21 Reporting Standard appI￿ab￿ 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 Operat￿nS 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 rece￿ab￿ 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 r￿ed 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 consumpt￿￿n, or at the value to the organisat￿n 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 eXaMinat￿n 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 de￿Its on general funds and can be used in accordance
with the company objects at the discret￿￿n of the Board of Directors.
Restricted funds represent monies received for Speerf￿ purposes. AJI income and expenditure relating to the
restr￿ted 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 deprecIat￿n. 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 res￿U£l value. over the
useful economic lrfe of the asset as folk)ws'.
Fixtures, fittings and equipment
250A Stra￿ht Ine
g) Trade debtors
Trade debtors are rec¢)Jnised initially al the transact￿n 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 Suppl￿rS. 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 r￿5ht 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 transact￿n pr￿e 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. PenS￿n 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 & collaborat￿n
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 pr￿r year was comprised of onty unrestr￿ted 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
ComMunicat￿nS
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 & collaborat￿n
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
CommUnicat￿nS
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 reMunerat￿n 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 preV￿U$￿ 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 re￿aSed lo income in the year
224,511
308,251
236,694
1320,4341
1224.5111
Balance Carr￿d 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
meIr￿S
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 realthat￿n 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
MeIr￿S
Research
Leadership & CollaboratK)n
Sustainable diets and farming
Donat￿nS
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 Organisat￿n. 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 agr￿ultUre. The transfer out relates lo appI￿ab￿ 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 transit￿n to agr0ecolog￿al food and farming
systems. In choosing the term agroecobgy. we aim to encompass farm practices. food systems and soc￿1
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 eduCat￿nal 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 Signrf￿ant
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, Ch￿f 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 outstand￿gI2O24- £Nill.
Arb Brady, Trustee of the Chairty, is the Ch￿f Executive officer of the Freuds CommUnicat￿nS 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 serv￿e$ 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
W￿F￿es¢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
Te￿phOne
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