Company number: 08488814 Charity Number: 1153131
## Fairfield Environment Trust
Group report and financial statements For the year ended 31 May 2022
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## Fairfield Environment Trust Reference and administration information
Company number 08488814 Charity number 1153131
Registered office and operational address
Bridge 5 Mill, 22a Beswick Street, Ancoats, Manchester M4 7HR
## Trustees
Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows:
Ian Trippier - Secretary
Neil Corney
Chris Walsh - Chair
Helen Woodcock
Darren Pegram
Lee Minchin (appointed 21 October 2021, resigned 1 January 2023))
## Key management personnel
The key management personnel were Richard Garth Jones (manager of Fairfield Environmental Services Limited), and Helen Woodcock and Chris Walsh (managers of The Kindling Trust Limited), and the trustees.
Bankers
Co-operative Bank plc Triodos Bank N.V.
## Solicitors
Christopher Murphy Whitehead’s Solicitors 6 Water Street Newcastle-under-Lyme Staffordshire ST5 1HR
## Auditors
Third Sector Accountancy Limited, Holyoake House, Hanover Street, Manchester M60 0AS.
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## Fairfield Environment Trust
## Trustees’ annual report for the year ended 31 May 2022
The trustees present their report and the audited financial statements for the year ended 31 May 2022. Included within the trustees’ report is the directors’ report as required by company law.
Reference and administrative information forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.
## **Objectives and activities**
The purposes of the charity are:
- a. The protection and preservation of the environment for the public benefit by:
- i. the promotion of waste reduction, re-use reclamation, recycling use of recycled products and the use of surplus;
- ii. advancing the education of the public about all aspects of waste generation, waste management and waste recycling.
- b. The promotion of sustainable development for the benefit of the public by:
- i. the preservation, conservation and the protection of the environment and the prudent use of natural resources;
- ii. the relief of poverty and the improvement of the conditions of life in socially and economically disadvantaged communities;
- iii. the promotion of sustainable means of achieving economic growth and regeneration.
Sustainable development means “development that meets the needs of the present without compromising the ability of future generations to meet their own needs”.
- c. The promotion for the benefit of the public of urban or rural regeneration in areas of social and economic deprivation (and in particular in North West England) by all or any of the following means:
- i. the relief of unemployment
- ii. the advancement of education, training or retraining, particularly among unemployed people, and providing unemployed people with work experience;
- iii. the protection or conservation of the environment.
Through its wholly-owned trading subsidiary Fairfield Environmental Services Limited (“FES”) the charity provided a leading-edge waste re-use and recycling service at New Smithfield Market in East Manchester specialising in fresh foodstuffs and their packaging. This activity was not considered to be a charitable activity due to the commercial manner in which it is carried out, and the income and expenditure has been included in “Income from other trading activities” and “Expenditure on raising funds” respectively. This activity ceased during the year.
Through its wholly-owned trading subsidiary Bridge 5 Mill Limited (“B5M”) the charity provides serviced office accommodation, conference and meeting spaces for the voluntary and environmental sector in Bridge 5 Mill, Ancoats, Manchester.
Through its wholly-owned subsidiary The Kindling Trust Limited (“KT”) the charity delivers sustainable food projects, improving health and well-being and increasing skills and knowledge through: education, volunteering opportunities, and increased access to fresh food . Additionally it is accomplishing all these charitable objects through its work to establish the Kindling Community Farm.
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## Fairfield Environment Trust
## Trustees’ annual report for the year ended 31 May 2022
Through all these enterprises it has created employment and volunteering opportunities and provided workexperience places to local residents and provided a home for a number of community and voluntary sector groups.
The trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity's aims, objectives and activities remained focused on its stated purposes.
The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.
## **Achievements and performance**
The charity's main activities and who it tries to help are described below. All its charitable activities focus on sustainability and are undertaken to further Fairfield Environment Trust’s charitable purposes for the public benefit.
## _Financial performance_
The charity’s assets continue to be used by its trading subsidiaries. One subsidiary Fairfield Environmental Services Limited has recently lost a major contract with Manchester City Council which has led to it ceasing to trade at the end of this financial year. All its debts have been settled, all its residual income has been received and its bank balances and the realisation of the value of its residual assets will be received by the charity in due course.
Bridge 5 Mill continues to see an increase in income since the Covid 19. During the 21/22 financial year, at least 13 out of the 15 offices were occupied on any given month. An increase in event bookings has brought in even more revenue for the mill, which is forecast to become even more profitable now that the mill has three staff members (since July 2022); A building manager and a new communications officer. The new team are working on a new business plan that includes development plans for the building, a new pricing model for the function rooms, marketing strategies to promote the workspaces and rooms and some exciting new projects for the mill.
It’s been a busy but exciting year for the Kindling Trust. After the last 2 (long) years we felt able to properly get back to engaging more people and extending our reach more widely in our communities; building community through food; sharing and building knowledge and skills; creating a buzzing, creative, welcoming community food hub and through this to find collective solutions to the many social and ecological challenges we face.
There is still a long way to go and, particularly in current times, it can feel like the challenges being thrown at our communities are relentless. But we have made incredible progress over the last year both in our work at Woodbank Community Food Hub and through our development work to establish Kindling Farm. The main highlights of the Kindling year include:
- Our Grow, Cook, Eat wellbeing sessions, with Kurdish refugees who have been living in a hotel, with no access to a kitchen or common space. The programme, involving gardening, cooking and sharing a meal together, has been a huge success and we have been taught lots of delicious Kurdish recipes.
- The community programme has really taken off with a whole range of workshops, courses and monthly events, engaging over 1000 people in sustainable food and farming.
- Our Community Garden producing over 40 varieties of fruit and veg; enough to share amongst our 16 or so Community Gardeners, to sell locally on our weekly stall and to turn into a range of delicious preserves.
- Great progress on the the FarmStart training programme and Market garden site, including:
- An amazing team of 6 Farmstart trainees participating in the programme
- Taking on 2 additional large double span polytunnels enabling us to start winter salad production for the first time
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## Fairfield Environment Trust
## Trustees’ annual report for the year ended 31 May 2022
Training a further 9 people through our 4 day commercial organic growers course
- Being able to open up our Saturday Market Garden volunteering sessions to the public once again and engaging 166 participants.
- Training 245 people in tree grafting, planting and care
- Through our heritage fruit tree project engaging an incredible 10,000 people in fruit trees and sustainable food and farming (over the 15 month life of the project).
- Last but not least, our successful community shares campaign in 2021, to help establish Kindling Farm, raised over £1 million and engaged over 600 new Kindling Farm members!
## _Employment, Training and Volunteering_
Until 31st. January in the year in question the charity’s subsidiaries had an average staff of 19 employed staff. From 1st. February 2022 all staff employed BY FES were transferred under the TUPE regulations to Biffa Waste Services Ltd. B5M and Kindling continued to provide its staff with additional training and to update mandatory training as required.
## _Charitable objectives and activities_
The charity’s environmental objects have been carried out in a number of ways through its wholly-owned subsidiaries:
Bridge 5 Mill Limited - offering environmentally friendly office and event space for those seeking it in Manchester, specifically for charities and social enterprises by offering reduced rates for event space for these types of organisations.
The Kindling Trust - held a number of community activities at Woodbank Community Food Hub to engage people in environmental and social issues. This included a wellbeing programme with Kurdish refugees, focused on growing and cooking sustainable food and sharing a meal together; a range of community activities to engage the public that engaged over 1000 people in our communities; and educational and volunteering opportunities for over 160 people on the land and improving their wellbeing and sense of community. The Kindling Trust also continued work to establish the Kindling Community Farm where it aims to build on and expand these charitable activities.
## **Financial review**
The charity’s main income derives from its ownership of its trading subsidiaries Fairfield Environmental Services Limited and Bridge 5 Mill Limited. The charity hires out equipment it owns to its subsidiaries and also receives the subsidiaries’ profit as a donation at the end of each financial year. The charity and the directors of the subsidiaries, which it appoints, are aware of the need to diversify the income of the subsidiaries and certain investments have been made to bring this about.
This year Fairfield Environment Trust received no additional grants to those mentioned in last year's accounts. The grants shown in these accounts are instalments of the Heritage Lottery Trust’s Green Recovery Fund awarded in 2020/2021.
The Kindling Trust was awarded an additional grant by the Joseph Rowntree Charitable Trust, to review and evaluate the success of their work and aim to engage people in ecological and social change.
## **Reserves policy**
Fairfield Environment Trust is committed to maintaining the subsidiaries which carry out its charitable activities. These subsidiaries require a level of reserves, so our reserve policy is at a group level.
The reserves policy is based on 3 months group core costs which we estimate to be £50,000. This is based on the amount that would be needed to fill the gap in core salaries in the situation that Bridge 5 Mill were to have no event bookings over 3 months and a core wage to run down the activities of the other subsidiaries. Current free reserves
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## Fairfield Environment Trust
## Trustees’ annual report for the year ended 31 May 2022
have risen over the year to £25,000 which is still short of our target but a better position than last year. The trustees remain committed to reaching the desired level of reserves through our marketing strategy for Bridge 5 Mill and our fundraising strategy for the Kindling Trust and the group as a whole.
Fairfield Environment Trust has no employees or other financial commitments and has a limited but reasonably constant income from group companies, so does not need reserves of its own.
## **Risk management**
Internal financial risks are controlled by the directors through the receipt of a monthly financial report from the General Manager encompassing management accounts, bank statements and reconciliation reports.
Internal control risks are managed by the adoption of a set of policies and procedures implemented by the General Manager covering Health and Safety and Standard Operating Procedures.
External risks to the charity are subject to constant review by the directors and will, in time, result in a strategic plan designed to minimise or eliminate their potential effects.
The charity trustees have given consideration to the major risks to which the charity is exposed and satisfied themselves that systems or procedures are established in order to manage those risks.
## **Plans for the future**
The charity will continue with its current activities and attempt to diversify them through the development of additional services.
Some investment has been made by the charity in the Bridge 5 Mill Limited’s building, and will continue to be invested in as we go forward to maximise income generated from the office and events space. Fairfield Environment Trust are staying up to date with the progress of the Kindling Farm as an official supporter member of Kindling Farm through community shares investment.
## **Structure, governance and management**
The organisation is a charitable company limited by guarantee, incorporated on 15 April 2013 and registered as a charity on 30 July 2013.
The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its articles of association.
Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees at 31 May 2022 was 6 (2021: 5). The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.
All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 12 to the accounts.
The board of trustees administers the charity. The board normally meets monthly. A General Manager is appointed by the trustees to manage the day-to-day operations of the charity.
## **Appointment of trustees**
As set out in the Articles of Association trustees are elected annually by the members of the charitable company attending the Annual General meeting. The directors of the company are also charity trustees for the purposes of charity law and under the charity’s articles are known as directors. Directors serve for three years with one third of the board of directors retiring every year. Directors are elected at the Annual General Meeting.
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## Fairfield Environment Trust Trustees’ annual report for the year ended 31 May 2022
As disclosed in note 12, the Trustees received remuneration for their paid roles as employees of subsidiary companies. This did not include their duties as trustees and was a continuation of their paid roles within the organisations that have now became part of the group. None of the Trustees received any remuneration or benefits for their duties as Trustees. The payment of trustees is permitted by the charity’s governing document.
## **Trustee induction and training**
New trustees are generally recruited from individuals who have had some previous experience of or involvement in the charity. New trustees are welcomed with an induction pack containing the Memorandum and Articles, latest published accounts and a set of the charity’s adopted policies and procedures.
## **Related parties and relationships with other organisations**
None of our trustees receive remuneration or other benefit from their work with the charity, except as disclosed above and in note 12. Any connection between a trustee or senior manager with any service providers must be disclosed to the full board of trustees in the same way as any other contractual relationship with a related party. In the current year no such related party transactions were reported.
## **Remuneration policy for key management personnel**
The charity was in the process of conducting a full staffing and structure review when the pandemic started, but the challenges and increased workload brought about by the pandemic and changing lockdown rules and regulations meant that we put this on hold. We have made some progress but aim to continue this review in the coming year. This will include a review of the pay scales with the levels of responsibility of the management personnel for each subsidiary. The pay scale reflects management level regarding number of staff, health and safety risk and responsibility and budget and financial management and responsibility.
## **Statement of responsibilities of the trustees**
The trustees (who are also directors of Fairfield Environment Trust for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group 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 judgements and estimates that are reasonable and prudent
- State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
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## Fairfield Environment Trust
## Trustees’ annual report for the year ended 31 May 2022
- There is no relevant audit information of which the charitable company’s auditors are unaware
- The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
## **Auditors**
Third Sector Accountancy Limited were appointed as the charitable company's auditors in June 2019 and have expressed their willingness to continue in that capacity.
This report has been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime of the Companies Act 2006.
23 / 02 / 2023 The trustees’ annual report has been approved by the trustees on ____________ and signed on their behalf by
Ian Trippier
Trustee
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Independent Auditor’s Report to the Members of Fairfield Environment Trust
## Opinion
We have audited the financial statements of Fairfield Environment Trust (the ‘parent charitable company’) and its subsidiaries (the ‘group’) for the year ended 31 May 2022 which comprise the Consolidated Statement of Financial Activities, The Balance Sheets, the Consolidated Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the group’s and parent charitable company’s affairs as at 31 May 2022, and of the group’s incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group’s or parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
## Other information
The trustees are responsible for the other information. The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
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## Independent Auditor’s Report to the Members of Fairfield Environment Trust
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the 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 that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the trustees’ report (incorporating 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 prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the group and parent charitable company and its environment obtained 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 and sufficient accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent charitable company’s financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors’ remuneration specified by law are not made; or
- we have not received all the information and explanations we require for 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 a strategic report.
## Responsibilities of trustees
As explained more fully in the trustees’ responsibilities statement set out on page 6, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the group’s and parent charitable company’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 group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.
## Auditor’s responsibilities for the audit of the financial statements
We have been appointed auditor under the Companies Act 2006 and section 151 of the Charities Act 2011 and report in accordance with those Acts.
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Independent Auditor’s Report to the Members of Fairfield Environment Trust
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
## Capability of the audit in detecting irregularities, including fraud
Based on our understanding of the group and environment in which it operates, we identified the principal risks of non-compliance with laws and regulations related to pension legislation, tax legislation, employment legislation, health and safety legislation, and other legislation specific to the industry in which the group operates, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, the reporting requirements under the Charities SORP and FRS102, and the Charities Act 2011. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principle risks were related to the pressure on management to achieve particular results. Audit procedures performed by the group engagement team included:
- Discussions with management including consideration of known or suspected instances of non-compliance;
- Evaluating management’s controls designed to prevent and detect irregularities;
- Identifying and testing journal entries; and
- Challenging assumptions and judgments made by management.
There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
## Use of our report
This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and to the charitable company’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s members and its trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
## Patrick Morrello (Senior Statutory Auditor)
For and on behalf of Third Sector Accountancy Limited, Statutory Auditor Holyoake House, Hanover Street, Manchester M60 0AS
24 / 02 / 2023
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## Fairfield Environment Trust
## Consolidated Statement of Financial Activities
(including Income and Expenditure account) for the year ended 31 May 2022
**----- Start of picture text -----**
Unrestricted Restricted Total funds Unrestricted Restricted Total funds
funds funds 2022 funds funds 2021
Note £ £ £ £ £ £
Income from:
Donations and legacies 3 3,983 3,200 7,183 17,284 2,868 20,152
Charitable activities 4 137,358 175,397 312,755 93,830 256,967 350,797
Other trading activities - discontinued operation 5 739,700 - 739,700 1,038,472 - 1,038,472
Investments 6 1,679 - 1,679 8 - 8
Total income 882,720 178,597 1,061,317 1,149,594 259,835 1,409,429
Expenditure on:
Raising funds - discontinued operation 7 698,353 - 698,353 1,074,184 - 1,074,184
Charitable activities 8 133,728 247,667 381,395 104,267 186,878 291,145
Total expenditure 832,081 247,667 1,079,748 1,178,451 186,878 1,365,329
Net income/(expenditure) for the year 10 50,639 (69,070) (18,431) (28,857) 72,957 44,100
Transfer between funds (4,534) 4,534 - - - -
Net movement in funds for the year 46,105 (64,536) (18,431) (28,857) 72,957 44,100
Reconciliation of funds
Total funds brought forward 595,311 157,382 752,693 624,168 84,425 708,593
Total funds carried forward 641,416 92,846 734,262 595,311 157,382 752,693
**----- End of picture text -----**
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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## Fairfield Environment Trust Company number 08488814
## Balance Sheets as at 31 May 2022
**----- Start of picture text -----**
The group The Charity
Note 2022 2021 2022 2021
£ £ £ £
Fixed assets
Tangible assets 14 488,314 549,482 451,458 478,704
Investments 15 45,000 45,000 40,002 40,002
Total fixed assets 533,314 594,482 491,460 518,706
Current assets
Stock 18 20,285 2,666 - -
Debtors 19 64,397 43,169 22,256 24,513
Cash at bank and in hand 235,360 411,120 40,244 76,121
Total current assets 320,042 456,955 62,500 100,634
Liabilities
Creditors: amounts falling
due in less than one year 20 (87,129) (231,822) (5,778) (8,156)
Net current assets 232,913 225,133 56,722 92,478
Total assets less current liabilities 766,227 819,615 548,182 611,184
Creditors: amounts falling
due after more than one year 21 (31,964) (66,922) - (18,377)
Net assets 734,263 752,693 548,182 592,807
Funds of the charity:
Restricted income funds 22 92,846 157,382 - -
Unrestricted income funds 23 641,417 595,311 548,182 592,807
Total charity funds 734,263 752,693 548,182 592,807
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These accounts are prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.
The notes on pages 14 to 34 form part of these accounts.
23 / 02 / 2023
Approved by the trustees on ___________________ and signed on their behalf by:
Helen Woodcock (Trustee)
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Fairfield Environment Trust
## Consolidated Statement of Cash Flows
## for the year ending 31 May 2022
**----- Start of picture text -----**
Note 2022 2021
£ £
Cash provided by/(used in) operating activities 27 (185,956) 127,788
Cash flows from investing activities:
Dividends, interest, and rents from investments 1,679 8
Proceeds from sale of tangible fixed assets 47,600
Purchase of tangible fixed assets (4,126) (40,611)
Cash provided by/(used in) investing activities 45,153 (40,603)
Cash flows from financing activities:
Repayment of borrowing (34,957) (19,743)
Investments in community shares - (45,000)
Cash inflows from new borrowing - 41,552
Cash provided by/(used in) financing activities (34,957) (23,191)
Increase/(decrease) in cash and cash
equivalents in the year (175,760) 63,994
Cash and cash equivalents at the beginning of the year 411,120 347,126
Total cash equivalents at the end of the year 235,360 411,120
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Fairfield Environment Trust
Notes to the accounts for the year ended 31 May 2022
## 1 Accounting policies
The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## a Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 (as updated through Update Bulletin 1 published on 2 February 2016) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Fairfield Environment Trust meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
## b Group financial statements
These financial statements consolidate the results of the charitable company and its wholly-owned subsidiaries Fairfield Environmental Services Limited, The Kindling Trust Limited, and Bridge 5 Mill Limited on a line by line basis. A separate Statement of Financial Activities and Income and Expenditure account are not presented for the charity itself following exemptions afforded by section 408 of the Companies Act 2006.
## c Preparation of the accounts on a going concern basis
The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.
## d Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Income received in advance of a provision of a specified service is deferred until the criteria for income recognition are met.
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Fairfield Environment Trust
Notes to the accounts for the year ended 31 May 2022 (continued)
## e Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
## f Fund accounting
Unrestricted funds are available to spend on activities that further any of the purposes of charity.
Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.
Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.
## g Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
- Costs of raising funds comprise the costs of commercial trading including the the materials management business in the subsidiary company, Fairfield Environmental Services Limited, and the associated support costs.
- Expenditure on charitable activities includes the costs of of the sustainable food production activities undertaken by the subsidiary company, The Kindling Trust Limited, and the costs of running the sustainable venu and office space run by the subsidiary company, Bridge 5 Mill Limited. These activities all further the purposes of the charity. Included in the costs are the associated support costs.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## h Allocation of support costs
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity's programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 9.
## i Operating leases
Operating leases are leases in which the title to the assets, and the risks and rewards of ownership, remain with the lessor. Rental charges are charged on a straight line basis over the term of the lease.
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Fairfield Environment Trust
## Notes to the accounts for the year ended 31 May 2022 (continued)
## j Tangible fixed assets
Individual fixed assets costing £500 or more are capitalised at cost and are depreciated
over their estimated useful economic lives on a straight line basis as follows:
Freehold building 1% per annum Plant and equipment 20% per annum Vehicles 20% per annum
## k Fixed asset investments
The charity holds investments in the subsidiary companies and an equity investment. Kindling Trust also holds an equity investment.
Investments in subsidiaries are stated at cost but eliminated on consolidation.
The charity holds a £40,000 programme related equity investment in a community benefit society, Kindling Farm Limited. The subsidiary, The Kindling Trust Limited, holds a £5,000 equity investment in Kindling Farm Limited (see note 15).
## l Stock
Stock is included at the lower of cost or net realisable value. In general, cost is determined on a first in, first out basis. Net realisable value is the price at which stocks can be sold in the normal course of business after allowing for the costs of realisation.
In this period the largets stock item was trees purchased as part of the heritage lottery project. The cost of stock recognised in the accounts is simply the cost of the rootstock and scions. The cost of grafting, planting, and caring for the young trees has not been recognised, because these costs were part of a larger volunteer project with many other outputs, and most of the actual work was done by volunteers. The cost of wages for co-ordinating the vounteers and managing the project was over £90k.
## m Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## n Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## o Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
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Fairfield Environment Trust
## Notes to the accounts for the year ended 31 May 2022 (continued)
## p Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## q Pensions
Employees of the charity are entitled to join a defined contribution scheme. The charity’s contribution is restricted to the contributions disclosed in note 11. There were no outstanding contributions at the year end. The costs of the defined contribution scheme are included within support and governance costs and allocated to the funds of the charity using the methodology set out in note 9.
## 2 Legal status of the charity
The charity is a company limited by guarantee registered in England and Wales and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. The registered office address is disclosed on page 1.
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## Fairfield Environment Trust
## Notes to the accounts for the year ended 31 May 2022 (continued)
**----- Start of picture text -----**
3 Income from donations and legacies
Unrestricted Restricted Total 2022 Unrestricted Restricted Total 2021
£ £ £ £ £ £
Donations - sustainable food production 3,983 3,200 7,183 17,284 2,868 20,152
Total 3,983 3,200 7,183 17,284 2,868 20,152
4 Income from charitable activities Unrestricted Restricted Total 2022 Unrestricted Restricted Total 2021
£ £ £ £ £ £
Sustainable food production
Grants 27,837 175,397 203,234 - 256,967 256,967
Charitable trading:
Events and programme fees 3,550 - 3,550 3,345 - 3,345
Consultancy 417 - 417 991 - 991
Vegetable sales 16,335 - 16,335 10,046 - 10,046
48,139 175,397 223,536 14,382 256,967 271,349
Sustainable venue and office space
Charitable trading:
Events 2,264 - 2,264 - - -
Office rentals and services 86,381 - 86,381 56,664 - 56,664
Other income 574 - 574 22,784 - 22,784
89,219 - 89,219 79,448 - 79,448
Total 137,358 175,397 312,755 93,830 256,967 350,797
**----- End of picture text -----**
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Fairfield Environment Trust
## Notes to the accounts for the year ended 31 May 2022 (continued)
**----- Start of picture text -----**
5 Income from other trading activities
Unrestricted Restricted 2022 Unrestricted Restricted 2021
£ £ £ £ £ £
Sustainable waste management -
discontinued in year 720,075 - 720,075 1,037,653 - 1,037,653
Asset disposal 12,924 12,924 - - -
Other income 4,659 - 4,659 561 - 561
Tuck shop sales 2,042 - 2,042 258 - 258
739,700 - 739,700 1,038,472 - 1,038,472
6 Investment income
Unrestricted Restricted Total 2022 Unrestricted Restricted Total 2021
£ £ £ £ £ £
Income from bank deposits 1,679 - 1,679 8 - 8
1,679 - 1,679 8 - 8
**----- End of picture text -----**
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Fairfield Environment Trust
## Notes to the accounts for the year ended 31 May 2022 (continued)
**----- Start of picture text -----**
7 Cost of raising funds
Unrestricted Restricted 2022 Unrestricted Restricted 2021
£ £ £ £ £ £
Sustainable waste management - discontinued in year
Wages 316,664 - 316,664 450,175 - 450,175
Premises 37,894 - 37,894 76,364 - 76,364
Vehicles and equipment 157,607 - 157,607 173,522 - 173,522
Waste disposal 101,012 - 101,012 249,241 - 249,241
Insurance (26) - (26) 16,995 - 16,995
Other costs 21,024 - 21,024 13,751 - 13,751
Depreciation 11,197 - 11,197 34,020 - 34,020
645,372 - 645,372 1,014,068 - 1,014,068
Sustainable venue and office space
Cost of goods sold - tuck shop 4,645 - 4,645 357 - 357
Support costs 45,181 - 45,181 56,064 - 56,064
Governance costs 3,155 - 3,155 3,695 - 3,695
698,353 - 698,353 1,074,184 - 1,074,184
**----- End of picture text -----**
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## Fairfield Environment Trust
## Notes to the accounts for the year ended 31 May 2022 (continued)
8 Analysis of expenditure on charitable activities
||Sustainable|Sustainable||_Sustainable_|_Sustainable_||
|---|---|---|---|---|---|---|
||food|venue and||_food_|_venue and_||
||production|office space|Total 2022|_production_|_office space_|_Total 2021_|
||£|£|£|_£_|_£_|_£_|
|Staff costs|167,113|15,504|182,617|_106,697_|_36,882_|_143,579_|
|Premises|941|2,260|3,201|_141_|_1,076_|_1,217_|
|Equipment and vehicle rental|14,797|-|14,797|_10,397_|_-_|_10,397_|
|Cost of sales|-|123|123|_-_|_2_|_2_|
|Repairs and maintenance|833|23,680|24,513|_3,159_|_18,196_|_21,355_|
|Insurance|(1,119)|798|(321)|_3,585_|_1,029_|_4,614_|
|Miscellaneous|1,961|5|1,966|_1,589_|_305_|_1,894_|
|Office costs|2,824|7,360|10,184|_3,976_|_6,489_|_10,465_|
|Professional fees|10,708|1,976|12,684|_2,248_|_605_|_2,853_|
|Training|9,298|-|9,298|_4,212_|_-_|_4,212_|
|Vehicle costs|1,598|-|1,598|_987_|_-_|_987_|
|Licences|400|-|400|_433_|_-_|_433_|
|Advertising, promotion and marketing|3,711|1,208|4,919|_4,153_|_647_|_4,800_|
|Bad debts|8,850|21,531|30,381|_(6,876)_|_611_|_(6,265)_|
|Depreciation|12,774|6,648|19,422|_6,892_|_6,779_|_13,671_|
|Grants paid - Veg Box People|14,000|-|14,000|_-_|_-_|_-_|
|Other project costs|15,927|-|15,927|_35,142_|_-_|_35,142_|
|Irrecoverable VAT|4,807|-|4,807|_6,208_|_-_|_6,208_|
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Fairfield Environment Trust
## Notes to the accounts for the year ended 31 May 2022 (continued)
## Analysis of expenditure on charitable activities (continued)
|estricted expenditure
nrestricted expenditure
upport costs (see note 9)
overnance costs (see note 9)|Sustainable
food
production
£
28,629
1,706
299,758
247,667
52,091
299,758|Sustainable
venue and
office space
£
405
139
81,637
-
81,637
81,637|Total 2022
£
29,034
1,845
381,395
247,667
133,728
381,395|_Sustainable_
_food_
_production_
_£_
_24,367_
_962_
_208,272_
_186,878_
_21,394_
_208,272_|_Sustainable_
_venue and_
_office space_
_£_
_9,909_
_343_
_82,873_
_-_
_82,873_
_82,873_|_Total 2021_
_£_
_34,276_
_1,305_
_291,145_
_186,878_
_104,267_
_291,145_|
|---|---|---|---|---|---|---|
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## Fairfield Environment Trust
## Notes to the accounts for the year ended 31 May 2022 (continued)
**----- Start of picture text -----**
9 Analysis of governance and support costs
Support Governance Total 2022 Support Governance Total 2021
£ £ £ £ £ £
Staff costs 59,613 - 59,613 77,590 - 77,590
Repairs 3,800 - 3,800 7,372 - 7,372
Insurance 2,429 - 2,429 1,481 - 1,481
Miscellaneous 306 - 306 991 - 991
Office costs 893 - 893 120 - 120
Professional fees 7,177 5,000 12,177 2,600 5,000 7,600
Depreciation - - - 186 - 186
74,218 5,000 79,218 90,340 5,000 95,340
Allocated as follows, in proportion to staff costs:
Raising funds 45,181 3,155 48,336 56,064 3,695 59,759
Sustainable food production 28,629 1,706 30,335 24,367 962 25,329
Sustainable venue and office space 405 139 544 9,909 343 10,252
74,215 5,000 79,215 90,340 5,000 95,340
**----- End of picture text -----**
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Fairfield Environment Trust
## Notes to the accounts for the year ended 31 May 2022 (continued)
## 10 Net income/(expenditure) for the year
|This is stated after charging/(crediting):|2022|_2021_|
|---|---|---|
||£|_£_|
|Depreciation|29,684|_47,876_|
|Loss/(profit) on disposal of fixed assets|(12,924)|_-_|
|Interest payable|1,674|_2,905_|
|Operating lease rentals:|||
|Property|5,491|_76,364_|
|Auditor's remuneration - audit fees|5,000|_4,000_|
|Auditor's remuneration - accountancy fees|1,600|_1,000_|
**----- Start of picture text -----**
Staff coststaff costsaff costsff costsf costs costsostsststss
Staff costs during the year were as follows:
2022 2021
£ £
Wages and salaries 467,037 560,175
Social security costs 30,317 39,200
Pension costs 45,057 55,854
Other staff costs 18,477 15,849
560,888 671,078
**----- End of picture text -----**
## 11 Staff coststaff costsaff costsff costsf costs costsostsststss
No employees has employee benefits in excess of £60,000 (2021: Nil).
The average number of staff employed by the group during the period was 30 (2021: 31). The average number of staff employed by the charity during the period was 1 (2021: Nil).
The key management personnel of the charity are trustees and the managers of the three subsidiaries. In one of the subsidiaries, the managers were paid trustees. The total employee benefits of the key management personnel of the charity were £112,719 (2021: £100,982).
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Fairfield Environment Trust
## Notes to the accounts for the year ended 31 May 2022 (continued)
## 12 Trustee remuneration and expenses, and related party transactions
In accordance with the charity's governing document, the following trustees received remuneration for carrying out the activities of the subsidiaries. No trustee was paid for their work as trustees.
The remuneration of trustees was as follows:
||||||||H
e
l
e
n||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||C
h
r
i
s
||||W
a
l
s
h|W
o
o
d
c
o
c
k||L
e
e
|||M
i
n
c
h
i
n||||||
|Employed by|The Kindling|||||The Kindling|||||FES||||||
|||Trust Ltd||||Trust Ltd|||||||||||
|Gross pay|||||21,373||19,098||||13,301||||||
|Pension contributions|||||2,181||1,446|||||1,400|||||
|Reimbursed expenses|||||4,417||700|||||||||-|
Apart from the above, neither the trustees nor any persons connected with them received any remuneration or reimbursed expenses during the year.
Chris Walsh and Helen Woodcock are directors of Veg Box People Limited. During the year, The Kindling Trust Limited made sales of £5,571 (2021: £4,485) to Veg Box People Limited, and Veg Box People Limited made sales of £749 (2021: £2,283) to The Kindling Trust Limited. At the year end, £829 (2021: nil) was owed by Veg Box People to the Kindling Trust. Fairfield Environmental Services Limited made sales of nil (2021: £14,000) to Veg Box People Limited. Bridge 5 Mill Limited made sales of £30 (2021: nil) to Veg Box People Limited. All these sales were on normal commercial terms.All these sales were on normal commercial terms.
Fairfield Environment Trust held a loan of £15,000 (2021: £15,000) to its wholly owned subsidiary Bridge 5 Mill Limited. This loan is unsecured, interest free, and has no fixed repayment date.
During the year, Fairfield Environment Trust disposed of assets through its wholly owned subsidiary Fairfield Environmental Services. The disposals in effect constitute a loan of £4,160 (2021: £6,182) to the subsidiary. This loan is unsecured, interest free, and has no fixed repayment date. The Kindling Trust Limited made sales to Fairfield Environment Trust of £778 (2021: nil) on normal commercial terms.
During the year, the subsidiary Kindling Trust received a £4,329 (2021: nil) rent rebate from Bridge 5 Mill in consideration of unpaid work undertaken by Chris Walsh and Helen Woodcock on behalf of the charity.
Fairfield Environmental Trust hold a £40,000 (2021: nil) equity investment in Kindling Farm Limited, a community benefit society. A £5,000 (2021: nil) investment in Kindling Farm Limited is held by the The Kindling Trust Limited. Chris Walsh and Helen Woodcock are directors of Kindling Farm Limited.
The Kindling Trust Limited made an unsecured loan of £10,000 to Veg Box People Limited, a company of which Helen Woodcock and Chris Walsh are directors. The loan is for no fixed term and no interest is charged. The loan has been provided against as there is some doubt about the company's ability to repay the loan. The loan is in support of the charitable objectives of the parent charity.
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Fairfield Environment Trust
## Notes to the accounts for the year ended 31 May 2022 (continued)
During the year, Helen Woodcock was a director of The Landworker's Alliance. During the year, The Kindling Trust Limited received a grant of £1,000 (2021: nil) from The Landworker's Alliance, and made sales to The Landworker's Alliance of £100 (2021: nil). Bridge 5 Mill and made sales to The Landworker's Alliance of £361 (2021: nil). All these sales were on normal commercial terms.All these sales were on normal commercial terms.
Apart from the above, no trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity, including guarantees, during the year (2021: nil).
## 13 Corporation tax
The charity is exempt from tax on income and gains falling within Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.
The charity's trading subsidiaries gift aid available profits to the parent charity. No tax charges arose in the subsidiary companies.
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Fairfield Environment Trust
## Notes to the accounts for the year ended 31 May 2022 (continued)
14 Fixed assets: tangible assets
**----- Start of picture text -----**
The group Plant and Land and
Vehicles equipment buildings Total
£ £ £ £
Cost
At 01 June 2021 52,640 240,006 473,374 766,020
Additions - 4,126 - 4,126
Disposals (36,940) (163,432) - (200,372)
At 31 May 2022 15,700 80,700 473,374 569,774
Depreciation
At 01 June 2021 35,863 158,970 21,705 216,538
Charge for the year 6,306 20,457 3,855 30,618
Disposals (35,569) (130,127) - (165,696)
At 31 May 2022 6,600 49,300 25,560 81,460
Net book value
At 31 May 2022 9,100 31,400 447,814 488,314
At 31 May 2021 16,777 81,036 451,669 549,482
**----- End of picture text -----**
Net book value of group plant and equipment subject to hire purchase agreements was £56,227 (2021: £75,307).
|h
a
r
i
t
y
ions
sals
e
c
i
a
t
i
o
n
e for the year
sals
o
o
k
v
a
l
u
e
May 2022
May 2022
_May 2021_
June 2021
May 2022
June 2021|Vehicles
£
36,940
-
(36,940)
-
32,065
3,506
(35,570)
1
(1)
_4,875_|Plant and
equipment
£
93,262
-
(76,415)
16,847
71,102
6,472
(64,372)
13,202
3,645
_22,160_|Land and
buildings
£
473,374
-
-
473,374
21,705
3,855
-
25,560
447,814
_451,669_|£
603,576
-
(113,355)
490,221
124,872
13,833
(99,942)
38,763
451,458
_478,704_
Total|
|---|---|---|---|---|
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Fairfield Environment Trust
Notes to the accounts for the year ended 31 May 2022 (continued)
## 15 Investments
|ost at the end of the year
hare in Fairfield Environmental
ervices Limited
hare in Bridge 5 Mill Limited
indling Farm Limited|2022
£
-
-
45,000
45,000
T
h
e
g
|_2021_
_£_
_-_
_-_
_45,000_
_45,000_
r
o
u
p|2022
£
1
1
40,000
40,002
T
h
e
c
|_2021_
_£_
_1_
_1_
_40,000_
_40,002_
a
r
i
t
y|
|---|---|---|---|---|
All investments are stated at cost.
The shares in Fairfield Environment Services Limited and Bridge 5 Mill Limited confer 100% ownership on the parent charity.
Kindling Farm Limited is a programme related investment. The shares are society shares and are not transferable but may be repaid. They give the charity only an insignificant voting power at the AGM of Kindling Farm Limited.
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Fairfield Environment Trust
## Notes to the accounts for the year ended 31 May 2022 (continued)
## 16 Subsidiary undertakings
The Charitable company owns the whole of the issued ordinary share capital of Fairfield Environmental Services Limited and Bridge 5 Mill Limited. It is also the sole guarantee member of The Kindling Trust Limited. All three subsidiary companies are registered in England.
Available profits are gift aided to the charitable company. A summary of the results of the subsidiaries is shown below:
**----- Start of picture text -----**
Company number 7865231 Company number 6136029 Company number 10111644
Fairfield Environmental Services
Limited
(discontinued January 2022) The Kindling Trust Limited Bridge 5 Mill Limited
2022 2021 2022 2021 2022 2021
£ £ £ £ £ £
Profit and loss account
Turnover 756,011 1,098,506 247,162 297,649 103,252 86,806
Expenditure (696,111) (1,111,188) (303,059) (211,959) (80,094) (77,037)
Donation to parent charity (965) - - - - (27,895)
Net profit £ 58,935 £ (12,682) £ (55,897) £ 85,690 £ 23,158 £ (18,126)
Balance sheet
Fixed assets - 24,398 40,853 49,891 1,003 1,489
Current assets 67,054 117,491 128,231 214,858 95,693 72,595
Creditors due in less than one year 12,214 (153,878) (26,439) (66,207) (21,687) (12,645)
Owed to parent (due in less than one
year) (63,873) (6,182) - - (15,000) (15,000)
Creditors due in more than one year - (25,370) - - (31,964) (41,552)
£15,395 (£43,541) £142,645 £198,542 £28,045 £4,887
Called up share capital 1 1 - - 1 1
Profit and loss account 15,394 (43,542) 142,645 198,542 28,044 4,886
£15,395 (£43,541) £142,645 £198,542 £28,045 £4,887
**----- End of picture text -----**
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Fairfield Environment Trust
## Notes to the accounts for the year ended 31 May 2022 (continued)
## 17 Parent charity
The parent charity's gross income and the results for the year are as follows:
**----- Start of picture text -----**
2022 2021
£ £
Gross income 101,869 163,893
(Deficit)/Surplus for the year (44,625) (10,785)
18 Stock
The group The charity
2022 2021 2022 2021
£ £ £ £
Stock of goods held for resale - 570 - -
Tuck shop 641 - - -
Stock of trees to be donated or sold 19,644 2,096 - -
20,285 2,666 - -
19 Debtors
The group The charity
2022 2021 2022 2021
£ £ £ £
Trade debtors 26,404 27,189 13 1,000
Loans to subsidiaries - - 19,160 21,182
Other debtors 7,237 2,632 1,348 2,331
Prepayments and accrued income 30,756 13,348 1,735 -
64,397 43,169 22,256 24,513
20 Creditors: amounts falling due within one year
The group The charity
2022 2021 2022 2021
£ £ £ £
Trade creditors 8,792 84,572 778 3,156
Accruals 45,825 74,559 5,000 5,000
Other creditors 3,894 5,286 - -
Taxation and social security costs 18,364 39,068 - -
Hire purchase creditor - 19,743 - -
Bounce back loan 8,850
Pension contributions 1,404 8,594 - -
87,129 231,822 5,778 8,156
**----- End of picture text -----**
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Fairfield Environment Trust
## Notes to the accounts for the year ended 31 May 2022 (continued)
21 Creditors: amounts falling after more than one year
**----- Start of picture text -----**
The group The charity
2022 2021 2022 2021
£ £ £ £
Hire purchase creditors - 25,370 - 18,377
Bounce back loan 31,964 41,552 - -
31,964 66,922 - 18,377
The bank loan is unsecured. The amount repayable in instalments after more than five years is £8,850.
Analysis of movements in group restricted fundsnalysis of movements in group restricted fundsalysis of movements in group restricted fundslysis of movements in group restricted fundsysis of movements in group restricted fundssis of movements in group restricted fundsis of movements in group restricted fundss of movements in group restricted funds of movements in group restricted fundsf movements in group restricted funds movements in group restricted fundsovements in group restricted fundsvements in group restricted fundsements in group restricted fundsments in group restricted fundsents in group restricted fundsnts in group restricted fundsts in group restricted fundss in group restricted funds in group restricted fundsn group restricted funds group restricted fundsroup restricted fundsoup restricted fundsup restricted fundsp restricted funds restricted fundsestricted fundsstricted fundstricted fundsricted fundsicted fundscted fundsted fundsed fundsd funds fundsundsndsdss
Balance at
01 June Balance at 31
2021 Income Expenditure Transfers May 2022
£ £ £ £ £
Sustainable food production
The Green Recovery
Challenge Fund 33,544 107,850 (141,467) 73 -
Joseph Rowntree
Charitable Trust 4,001 - (8,462) 4,461 -
Postcode Local Trust 19,962 - (6,778) 13,184
The Big Lottery -
Reaching Communities 70,917 67,547 (70,245) - 68,219
Founding Supporters 19,333 3,200 (20,715) - 1,818
Landworkers' Alliance
1,625 - - - 1,625
Unicorn Grocery 8,000 - - - 8,000
Total 157,382 178,597 (247,667) 4,534 92,846
**----- End of picture text -----**
22 Analysis of movements in group restricted fundsnalysis of movements in group restricted fundsalysis of movements in group restricted fundslysis of movements in group restricted fundsysis of movements in group restricted fundssis of movements in group restricted fundsis of movements in group restricted fundss of movements in group restricted funds of movements in group restricted fundsf movements in group restricted funds movements in group restricted fundsovements in group restricted fundsvements in group restricted fundsements in group restricted fundsments in group restricted fundsents in group restricted fundsnts in group restricted fundsts in group restricted fundss in group restricted funds in group restricted fundsn group restricted funds group restricted fundsroup restricted fundsoup restricted fundsup restricted fundsp restricted funds restricted fundsestricted fundsstricted fundstricted fundsricted fundsicted fundscted fundsted fundsed fundsd funds fundsundsndsdss
30
Doc ID: 4d2df2d40a46610393760a8036581dc95726359c
Fairfield Environment Trust
## Notes to the accounts for the year ended 31 May 2022 (continued)
## Analysis of movements in restricted funds - comparative period
|_Balance at_
_01 June_
_2020_
_Income_
_Expenditure_
_Transfers_
_Balance at_
_01 June_
_2021_
_£_
_£_
_£_
_£_
_£_
_t_
_a_
_i_
_n_
_a_
_b_
_l_
_e_
_f_
_o_
_o_
_d_
_p_
_r_
_o_
_d_
_u_
_c_
_t_
_i_
_o_
_n_
_-_
_107,850_
_(74,306)_
_-_
_33,544_
_-_
_40,000_
_(35,999)_
_-_
_4,001_
_-_
_19,962_
_-_
_19,962_
_62,335_
_85,155_
_(76,573)_
_-_
_70,917_
_16,465_
_2,868_
_-_
_-_
_19,333_
_1,625_
_-_
_-_
_-_
_1,625_
_4,000_
_4,000_
_-_
_-_
_8,000_
_al_
_84,425_
_259,835_
_(186,878)_
_-_
_157,382_
D
e
s
c
r
i
p
t
i
o
n
,
n
a
t
u
r
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a
n
d
p
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e
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f
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f
u
n
d
Green Recovery
llenge Fund
To engage communities in sustainable food and farming and work with them to
graft and plant 12,000 heritage fruit trees; to establish a pioneering fruit tree
nursery of heritage varieties for the Northwest; and to enhance wildlife habitats
on the site. Funded by the Heritage Trust.
_nding Supporters_
_dworkers' Alliance_
_corn Grocery_
m
e
o
f
t
r
i
c
t
e
d
f
u
n
d
_eph Rowntree_
_ritable Trust_
_tcode Local Trust_
_Big Lottery -_
_ching Communities_
_Green Recovery_
_llenge Fund_|_Balance at_
_01 June_
_2020_
_Income_
_Expenditure_
_Transfers_
_Balance at_
_01 June_
_2021_
_£_
_£_
_£_
_£_
_£_
_t_
_a_
_i_
_n_
_a_
_b_
_l_
_e_
_f_
_o_
_o_
_d_
_p_
_r_
_o_
_d_
_u_
_c_
_t_
_i_
_o_
_n_
_-_
_107,850_
_(74,306)_
_-_
_33,544_
_-_
_40,000_
_(35,999)_
_-_
_4,001_
_-_
_19,962_
_-_
_19,962_
_62,335_
_85,155_
_(76,573)_
_-_
_70,917_
_16,465_
_2,868_
_-_
_-_
_19,333_
_1,625_
_-_
_-_
_-_
_1,625_
_4,000_
_4,000_
_-_
_-_
_8,000_
_al_
_84,425_
_259,835_
_(186,878)_
_-_
_157,382_
D
e
s
c
r
i
p
t
i
o
n
,
n
a
t
u
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a
n
d
p
u
r
p
o
s
e
s
o
f
t
h
e
f
u
n
d
Green Recovery
llenge Fund
To engage communities in sustainable food and farming and work with them to
graft and plant 12,000 heritage fruit trees; to establish a pioneering fruit tree
nursery of heritage varieties for the Northwest; and to enhance wildlife habitats
on the site. Funded by the Heritage Trust.
_nding Supporters_
_dworkers' Alliance_
_corn Grocery_
m
e
o
f
t
r
i
c
t
e
d
f
u
n
d
_eph Rowntree_
_ritable Trust_
_tcode Local Trust_
_Big Lottery -_
_ching Communities_
_Green Recovery_
_llenge Fund_|_Balance at_
_01 June_
_2020_
_Income_
_Expenditure_
_Transfers_
_Balance at_
_01 June_
_2021_
_£_
_£_
_£_
_£_
_£_
_t_
_a_
_i_
_n_
_a_
_b_
_l_
_e_
_f_
_o_
_o_
_d_
_p_
_r_
_o_
_d_
_u_
_c_
_t_
_i_
_o_
_n_
_-_
_107,850_
_(74,306)_
_-_
_33,544_
_-_
_40,000_
_(35,999)_
_-_
_4,001_
_-_
_19,962_
_-_
_19,962_
_62,335_
_85,155_
_(76,573)_
_-_
_70,917_
_16,465_
_2,868_
_-_
_-_
_19,333_
_1,625_
_-_
_-_
_-_
_1,625_
_4,000_
_4,000_
_-_
_-_
_8,000_
_al_
_84,425_
_259,835_
_(186,878)_
_-_
_157,382_
D
e
s
c
r
i
p
t
i
o
n
,
n
a
t
u
r
e
a
n
d
p
u
r
p
o
s
e
s
o
f
t
h
e
f
u
n
d
Green Recovery
llenge Fund
To engage communities in sustainable food and farming and work with them to
graft and plant 12,000 heritage fruit trees; to establish a pioneering fruit tree
nursery of heritage varieties for the Northwest; and to enhance wildlife habitats
on the site. Funded by the Heritage Trust.
_nding Supporters_
_dworkers' Alliance_
_corn Grocery_
m
e
o
f
t
r
i
c
t
e
d
f
u
n
d
_eph Rowntree_
_ritable Trust_
_tcode Local Trust_
_Big Lottery -_
_ching Communities_
_Green Recovery_
_llenge Fund_|_Balance at_
_01 June_
_2020_
_Income_
_Expenditure_
_Transfers_
_Balance at_
_01 June_
_2021_
_£_
_£_
_£_
_£_
_£_
_t_
_a_
_i_
_n_
_a_
_b_
_l_
_e_
_f_
_o_
_o_
_d_
_p_
_r_
_o_
_d_
_u_
_c_
_t_
_i_
_o_
_n_
_-_
_107,850_
_(74,306)_
_-_
_33,544_
_-_
_40,000_
_(35,999)_
_-_
_4,001_
_-_
_19,962_
_-_
_19,962_
_62,335_
_85,155_
_(76,573)_
_-_
_70,917_
_16,465_
_2,868_
_-_
_-_
_19,333_
_1,625_
_-_
_-_
_-_
_1,625_
_4,000_
_4,000_
_-_
_-_
_8,000_
_al_
_84,425_
_259,835_
_(186,878)_
_-_
_157,382_
D
e
s
c
r
i
p
t
i
o
n
,
n
a
t
u
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a
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d
p
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r
p
o
s
e
s
o
f
t
h
e
f
u
n
d
Green Recovery
llenge Fund
To engage communities in sustainable food and farming and work with them to
graft and plant 12,000 heritage fruit trees; to establish a pioneering fruit tree
nursery of heritage varieties for the Northwest; and to enhance wildlife habitats
on the site. Funded by the Heritage Trust.
_nding Supporters_
_dworkers' Alliance_
_corn Grocery_
m
e
o
f
t
r
i
c
t
e
d
f
u
n
d
_eph Rowntree_
_ritable Trust_
_tcode Local Trust_
_Big Lottery -_
_ching Communities_
_Green Recovery_
_llenge Fund_|_Balance at_
_01 June_
_2020_
_Income_
_Expenditure_
_Transfers_
_Balance at_
_01 June_
_2021_
_£_
_£_
_£_
_£_
_£_
_t_
_a_
_i_
_n_
_a_
_b_
_l_
_e_
_f_
_o_
_o_
_d_
_p_
_r_
_o_
_d_
_u_
_c_
_t_
_i_
_o_
_n_
_-_
_107,850_
_(74,306)_
_-_
_33,544_
_-_
_40,000_
_(35,999)_
_-_
_4,001_
_-_
_19,962_
_-_
_19,962_
_62,335_
_85,155_
_(76,573)_
_-_
_70,917_
_16,465_
_2,868_
_-_
_-_
_19,333_
_1,625_
_-_
_-_
_-_
_1,625_
_4,000_
_4,000_
_-_
_-_
_8,000_
_al_
_84,425_
_259,835_
_(186,878)_
_-_
_157,382_
D
e
s
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o
n
,
n
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d
p
u
r
p
o
s
e
s
o
f
t
h
e
f
u
n
d
Green Recovery
llenge Fund
To engage communities in sustainable food and farming and work with them to
graft and plant 12,000 heritage fruit trees; to establish a pioneering fruit tree
nursery of heritage varieties for the Northwest; and to enhance wildlife habitats
on the site. Funded by the Heritage Trust.
_nding Supporters_
_dworkers' Alliance_
_corn Grocery_
m
e
o
f
t
r
i
c
t
e
d
f
u
n
d
_eph Rowntree_
_ritable Trust_
_tcode Local Trust_
_Big Lottery -_
_ching Communities_
_Green Recovery_
_llenge Fund_|
|---|---|---|---|---|
|_t_
_a_
_i_
_n_
_a_
_b_
_l_
|_e_
_f_
_o_
_o_
_d_
|_p_
_r_
_o_
_d_|_u_
_c_
|_i_
_o_
|
|_al_
Green Recovery
llenge Fund
_nding Supporters_
_dworkers' Alliance_
_corn Grocery_
m
e
o
f
t
r
i
c
t
e
d
f
u
n
d
_eph Rowntree_
_ritable Trust_
_tcode Local Trust_
_Big Lottery -_
_ching Communitie_
_Green Recovery_
_llenge Fund_|||||
Joseph Rowntree Joseph Rowntree Charitable Trust funded the Kindling Trust from their Charitable trust Sustainable Futures strand, for a contribution to core costs. Postcode Local Trust To engage the community in their work to establish Kindling Farm
Establishing sustainable and fair food system
The Big Lottery - Reaching Communities Founding Supporters Founding Supporters are individuals that make donations to Kindling Trust to support the development of the future Kindling Farm. Landworkers' Alliance Towards farm incubator network project Unicorn Grocery For establishing a packing area at FarmStart project
31
Doc ID: 4d2df2d40a46610393760a8036581dc95726359c
Fairfield Environment Trust
## Notes to the accounts for the year ended 31 May 2022 (continued)
## 23 Analysis of movement in group unrestricted funds
|neral fund
signated property
sets fund
_neral fund_
_signated property_
_sets fund_|Balance at
01 June
2021
£
113,880
481,431
595,311
_Balance_
_at 01 June_
_2020_
_£_
_131,268_
_492,900_
_624,168_|Income
£
882,722
-
882,722
_Income_
_£_
_1,149,594_
_-_
_1,149,594_|Expenditure
£
(832,081)
-
(832,081)
_Expenditure_
_£_
_(1,178,451)_
_-_
_(1,178,451)_|Transfers
£
(11,418)
6,884
(4,534)
_Transfers_
_£_
_11,469_
_(11,469)_
_-_|As at 31 May
2022
£
153,103
488,314
641,417
_As at 01_
_June 2021_
_£_
_113,880_
_481,431_
_595,311_|
|---|---|---|---|---|---|
Name of Description, nature and purposes of the fund
General fund The free reserves after allowing for all designated funds Designated property The fixed assets, net of related hire purchase liabilities, are essential for the assets fund future operation of the charity and so are excluded from free reserves.
32
Doc ID: 4d2df2d40a46610393760a8036581dc95726359c
Fairfield Environment Trust
## Notes to the accounts for the year ended 31 May 2022 (continued)
## 24 Analysis of group net assets between funds
**----- Start of picture text -----**
Current reporting period
General Designated Restricted
fund funds funds Total
£ £ £ £
Tangible fixed assets - 488,314 - 488,314
Net current assets/(liabilities) 140,067 - 92,846 232,913
Creditors of more than one year (31,964) - - (31,964)
Total 153,103 488,314 92,846 734,263
Previous reporting period
General Designated Restricted
fund funds funds Total
£ £ £ £
Tangible fixed assets 594,482 - - 594,482
Net current assets/(liabilities) 79,220 (11,469) 157,382 225,133
Creditors of more than one year (25,370) - - (25,370)
Total 648,332 (11,469) 157,382 794,245
**----- End of picture text -----**
## 25 Operating lease commitments
The group's total future minimum lease payments under non-cancellable operating leases is as follows for each of the following periods:
|ss than one year
e to five years|2022
_2021_
£
_£_
-
-
-
-
-
_-_
Property|2022
_2021_
£
_£_
-
_27,212_
-
_40,818_
-
_68,030_
Equipment|
|---|---|---|
The charity had no commitments under non-cancellable operating leases.
33
Doc ID: 4d2df2d40a46610393760a8036581dc95726359c
Fairfield Environment Trust
## Notes to the accounts for the year ended 31 May 2022 (continued)
## 26 Contingent liability
At the financial year end, Bridge 5 Mill was subject to a compensation claim following an incident at the building. The subsidiary agreed to the claim, and a final determination of the compensation of £33,551 was agreed and settled in October 2022. The compensation payment was covered by the subsidiary's insurance policy.
## 27 Reconciliation of net movement in funds to net cash flow from operating activities
**----- Start of picture text -----**
2022 2021
£ £
Net income/(expenditure) for the year (18,431) 44,100
Adjustments for:
Depreciation charge 30,618 47,877
Loss/(profit) on sale of fixed assets (12,924)
Dividends, interest and rents from investments (1,679) (8)
Decrease/(increase) in stock (17,619) (2,096)
Decrease/(increase) in debtors (21,228) (11,929)
Increase/(decrease) in creditors (144,693) 49,844
Net cash provided by/(used in) operating activities (185,956) 127,788
**----- End of picture text -----**
34
Doc ID: 4d2df2d40a46610393760a8036581dc95726359c