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2022-03-31-accounts

COMMONWORK TRUST ANNUAL REPORT AND STATEMENT OF ACCOUNTS

1 APRIL 2021 - 31 MARCH 2022

Nature & People Together

Contents

3 Legal and Administrative Duties

4 Chairman's Introduction

5 Our Annual Report 2021-22

26 Our Strategic Plan 2022-2027

36 Our Financial Accounts 2021-2022

64 Our Supporters

Commonwork Trust registered Company Limited by Guarantee 9254227 and registered as a charity number 1160725

Legal and Administrative Details

Commonwork Trust is a registered Company Limited by Guarantee - number 9254227 and is registered as a charity number 1160725.

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st March 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

The trustees that served during the year were as follows:

H. Bird

J. Rai (appointed 29 November 2021)

W. Waterfield

N. E. Wates

A. White (appointed 29 November 2021)

Jenifer Wates continues to serve as a trustee emeritus and, as such, is neither a director of the company nor a trustee for Charities Act purposes.

Structure and governance

Commonwork Trust was established on 1 July 2015 following the merger of Commonwork Land Trust (established July 1977) and Neil Wates Charitable Trust (established March 1966), which both ceased operating on 30 June 2015. The Trust works alongside Commonwork Organic Farms Limited, a subsidiary of Commonwork Trust, which engages in regenerative organic farming at Bore Place. The charity’s objects, set out in the trust deed, are to apply the capital or income of the charity towards such charitable purposes or activities as the trustees may direct.

The charity is governed by its Memorandum and Articles of Association. Trustee appointments are made by the trustees when it is considered appropriate and with regard to the work being undertaken by the Trust. The Trust operates a formal procedure for the recruitment and induction of trustees. Trustees do not serve for any particular period.

The registered office is Bore Place, Bore Place Road, Chiddingstone, Kent TN8 7AR. Our auditors are I J Currie FCA, Currie Accountancy Ltd, First Floor, 13a High Street, Edenbridge, Kent, TN8 5AB

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Introduction

Our charity was set up in 1977 by Neil and Jenifer Wates, who were deeply concerned about the exploitation of natural resources in the world, and the lack of opportunity for others to achieve their potential. They wished to bring about real change and realised it needed a massive shift in how society thinks and works. This focus remains at the heart of who we are today.

We continue to make significant achievements in our sustainable and regenerative approach to farming and land management. We have learned how connecting people with nature can restore, create experiences and relationships, and help to transform people's lives. People and nature are at the heart of our work - transforming and being transformed together.

Bore Place is now at one of the most exciting stages in its development. We have used the pandemic to good effect by investing substantially in our infrastructure. Our cashflows are strong and a refreshed Strategic Plan was launched in April 2022. At a time when there is a major call for a paradigm shift in our approach to nature, climate and our most vulnerable communities, this plan will guide and focus our work over the coming years, culminating with our 50th Birthday in 2027.

This report shares our achievements and financial accounts for 2021-22 and sets our priorities for the next 5 years.

During 2021-22 we have:

Developed and launched our 5-year Strategic Plan

I would like to thank all of those who have supported us over the past year with a generous commitment of time as well as donations. In particular, my heartfelt thanks to the Cultural Recovery Fund, Diocese of Rochester, Children in Need, DEFRA, Ernest Cook Trust, Heritage Lottery Fund, Local Postcode Local Trust, Natural England, Sevenoaks District Council and Kent County Council. I am also extremely grateful for the dedication of our staff, volunteers and trustees.

Paul Turner - Chair

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Our Annual Report 2021-22

Nature & People Together

Introduction

This Annual Report sets out achievements in 2021-2022, which include:

It also reports on our work following the disruption of COVID-19, and how the organisation successfully bounced back from this, the evolution and development of our work, as well as our financial position:

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I. Our school and community programmes

Following the easing of the COVID-19 restrictions in April 2021, we were able to fully reopen to deliver most of our school and community programmes. In 2021/22, visitors and students of all ages and abilities took part in 8,461 person-days of interaction with Bore Place. This included school day trips, residentials, weekly visiting SEND school groups, our family programmes, our additional needs respite club, our volunteer programmes and our workshops and events.

We began working with the Centre for Education and Youth to develop new interpretation tools to help us evaluate our impact and the influence of our future projects and programmes.

----- Start of picture text -----
AN club
75
----- End of picture text -----

----- Start of picture text -----
Family
programme
13 Volunteering
Sessions
Secondary
67
School
19 classes
Pre school
Primary School nature
63 classes sessions
6 Additional
needs
clubs
SEN Schools 15
Community 318 classes ResidentialsSchool
4
Events Children's
34 drop off
sessions
13 No. of sessions
EDUCATION
Family/
community
8 COMMUNITY
----- End of picture text -----

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Schools Learning 18 Growing

School visits

School day visits resumed in May 2021, the number of classes who visited for day trips was only slightly reduced compared to prepandemic levels (2019/20: 97 classes, 2021/22: 82 classes. For 2021/22, our school day visits programme reached 2,656 people (1702 primary pupils, 608 secondary students and 346 accompanying adults) and worked with 39 primary schools and 5 secondary schools.

In October 2021, we started our new 18month Green Recovery-funded project ‘Bore Place: We Are Nature’, designed to connect people and nature, by involving as many visitors as possible with volunteering and citizen science programmes, working to enhance biodiversity across the site.

Our school programmes were refreshed to align with our Green Recovery project and increase participation in citizen science surveys and biodiversity and habitat enhancement programmes. All classes visiting from January 2022 took part in the project via their school visit and undertook activities such as worm surveys, assessing soil health, minibeast hunts and wildlife surveys to help understand species populations, as well as habitat improvement activities such as building dead hedges and planting yellow rattle to help diversify the meadow.

We recognised that the enforced isolation of the pandemic had had a particularly negative effect on young people who started secondary school during that period and had therefore missed key opportunities for school trips and bonding opportunities to help ease their transition. In response, a specially tailored Teambuilding Day was offered to encourage year groups to bond through fun, outdoor learning activities which included orienteering and campfire lighting. Teambuilding Days were also offered in lieu of residential stays for older KS2 pupils who were unable to have this opportunity due to COVID19 restrictions. 629 children from eight schools benefited from our teambuilding programme.

Our school residential programme restarted and we were selected to join the Ernest Cook Trust OWL programme. The national OWL programme provides an opportunity for vulnerable and disadvantaged young people to experience the benefits of an Outdoor Week of Learning (OWL), enabling them to appreciate the natural environment while reconnecting with nature. 111 pupils benefited from outdoor activities including orienteering and a farm tour to learn about organic dairy farming practices. They also took part in activities such as firelighting and campfire cooking, bushcraft activities, and a night walk with bat detectors, as well as preparing their own meal to share together.

.

"Patience with younger children, wonderful enthusiasm, the staff had a passion for the learning they were showing which resonated with everyone with activities that engaged and were fully inclusive to all children.”

The Wells Free School, January 2022

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Inspire Educate Involve 10

Supporting children and young people with additional needs

In recognition of the impact of our weekly work with specialist schools for young people with Special Educational Needs and Disabilities (SEND), we expanded this area of work in 2021/22.

We delivered year-round weekly programmes to 11 regular SEND school groups as well as an after-school session for a local school.

During 2021/22, the team delivered 318 classes, with 2546 days of SEND student attendance. It was recognised that weekly visits allow for cumulative learning and opportunities to deliver formal qualifications were explored, to further our impact.

The John Muir Award was successfully trialled with two schools and will continue to be offered in 2022-23.

“The [Trust's] John Muir Award is an environmental award scheme focused on wild places. It is inclusive, accessible and noncompetitive, though should challenge each participant. The Award encourages awareness and responsibility for the natural environment through a structured yet adaptable scheme, in a spirit of fun, adventure and exploration."

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We are an established centre for the delivery of the Arts Award which enables young people to develop skills in creativity, leadership and communication. During this period, students benefited from our unique learning environment to participate in the award with students on track to graduate with the Gold Award, Bronze Award and Explore Award in July 2022.

Furthering the SEND work, the Education Team also delivered the fourth year of a Kent County Council-funded programme providing holiday and weekend drop-off sessions for young people with additional needs. The club provided 15 sessions with up to 150 places and is designed to increase independence, confidence, self-esteem and social skills. The club also provides a natural break for parents/carers.

We are proud that the club has many repeat attendees, with some young people attending over several years. There is a great need for respite programmes specially designed for young people with additional needs. For many, this is the only place they attend alone apart from school.

“Generally, from the moment the family arrives and gets out of the car at Bore Place we are more relaxed and at one with nature. We spend less time on our phones and more time talking with one another and others. It is a fun and relaxing place where we all spend less time worrying about everyday life and more time focused on each other and learning about nature and how to be kind and caring to each other.”

We launched year two of our three-year Family Programme funded by Children in Need. Our programme provides engaging and fun activities across the year for young people with a disability and their siblings to boost resilience, self-esteem and independence as well as providing much-needed respite and support for parents and carers.

We worked with eight families with children and young people with SEND (18 young people and their parents/carers). The programme included nine fully-funded drop-off activity days for children and an overnight stay at Bore Place for their families to attend together.

Parent, Children in Need Family Programme 2021

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Events and courses

Our programme of public events was gradually reinstated as the COVID-19 restrictions eased. We delivered 34 events (7 adult courses, 8 family events, 13 children’s drop-off sessions and 6 nature play sessions for pre-schoolers and their carers) across the year and worked with 298 adults and 353 children.

The programme followed three broad themes: Nature (25 events including den building and campfires for children and astronomy evenings for families), Food and Farming (2 events, including a yoghurt-making workshop and Carols in the Cowshed) and Creative (7 events including glass fusing and natural wreath making).

Number of events by type

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Food & Farming
2
Creative
7
Nature
25
----- End of picture text -----

The Trust is committed to embedding biodiversity programmes into all strands of its educational work, including its community events. The recruitment of our Citizen Science and Nature Programmes Coordinator has provided capacity and in-house expertise to expand our community programme to include a new series of nature ID walks (reptiles, bats, trees, small mammals) and to launch a citizen science and conservation volunteering group.

During summer 2021 we worked with Kent County Council to provide a free holiday activities and food programme for local children in receipt of free school meals. The programme was designed in response to research which identified that children from low-income households are less likely to access holiday activities and more likely to experience unhealthy lifestyles outside of school. We delivered 13 sessions providing 154 places for local children.

Thanks to funding from the Postcode Local Trust, we also trialled a series of 12 nature play sessions for preschool children aged 3-5 years.

“The idea for the event was great, ‘Carols in the Cowshed’ could be an annual event in many people’s calendars. The bale seating was atmospheric, the mulled wine and mince pies were a lovely festive touch.”

Attendee, Carols in the Cowshed 2021

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Volunteering

As COVID-19 restrictions eased, we were keen to reinstate our volunteering groups, and we took the opportunity to formalise and create new systems for onboarding and holding information about volunteers. We introduced a Volunteer Handbook, provided health and safety training and invited volunteers to attend meetings to help inform the Trust’s new 5-year strategy.

Our weekly gardening group continued to operate and the Green Recovery project enabled the recruitment of a new conservation volunteer group, with a focus on habitat improvement, wildlife surveys and improving access to the countryside.

The Trust began to form a relationship with SES Water which own the neighbouring Bough Beech Reservoir site. The site includes a nature reserve of particular ecological interest which was managed by Kent Wildlife Trust and a team of volunteers until July 2020. In early 2021, the Trust took on the management of the volunteer team who had re-formed post-COVID restrictions to continue their work at Bough Beech. We continue to explore how a relationship with SES Water could provide opportunities for land use as well as possible educational resource benefits for Bore Place.

The Trust is very grateful to have received 335 days of volunteering, which has supported garden maintenance at Bore Place, as well as habitat improvement and wildlife surveys at both Bore Place and the Bough Beech site.

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II. Responsible use of natural resources, sustainable farming and our visitors

Visitors to the farm

The Bore Place estate is managed by Commonwork Organic Farms Ltd (a subsidiary of the Commonwork Trust), our organic dairy farm, which is at the heart of our education programmes. Our farm is open to the public all year round with access via the provision of walking trails around the farm estate which also link with the neighbouring nature reserve at Bough Beech, local pubs and the Greensand Way.

To guide our future trail plans and gain a better sense of the number and distribution of people accessing Bore Place across the year, four automatic people counters were installed across the estate.

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People Counters
10,000
7,500
5,000
2,500
0
Apr 21May 21June 21July 21Aug 21Sept 21Oct 21Nov 21Dec 21Jan 22Feb 22Mar 22
----- End of picture text -----

With the return of school day trips and people staying at Bore Place, visits to the farm increased last year. We recorded 66 guided farm tours for 2032 visitors in 2021/22 – the actual number of visitors interacting with the farm is, of course, much higher as this does not include those who visit as part of a farm walk.

----- Start of picture text -----
Farm Tours
2021/22
66
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Enhancing our biodiversity

Our 18-month Green Recovery project started in October 2022 to improve the biodiversity and habitats of Bore Place with the goal of creating bigger, better and more joined-up habitats.

Areas of the estate that we have identified as being critical to improving habitats include:

Our Citizen Science and Nature Programmes Coordinator has led our citizen science survey and farm-wide soil sampling programme to improve our baseline knowledge and inform future plans for habitat improvements and carbon capture. Between January-March 2022, 103 people were involved in our survey work.

We created an app to record and map species and began work on our 10-year management plan for the land, habitats and species to inform future habitat restoration and nature-based climate solutions.

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No. of participants
30
20
10
0
Big Farmland Bird CountDormouse Box CleaningNewt SurveysReptile Mat Set UpSoil TestingStream ClearanceTwig Bundle CreationDead Hedge CreationBramble Removal
----- End of picture text -----

----- Start of picture text -----
January - March 2022
Coreo app records
Amphibians
Birds
Mammals
Trees
Invertebrates
----- End of picture text -----

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Carbon, renewables and our sustainable approach

Our supply of renewable energy continues to be provided for the site via biomass from woodchip, supplying heat and hot water to our buildings, as well as electricity from our photovoltaic installations and wind turbine. During 2021/2022 we continued our feasibility assessments to consider options for us to become net zero by 2030. We successfully secured £83k funding to support our development project to increase onsite electricity generation and the next phase of our decarbonisation plans which will be fully explored in 2022/23.

We continue to work proactively to ensure that our site, buildings, venue, holiday lets, education buildings and events are managed in line with our principles and that our purchasing and impact contribute as much as possible to enabling sustainable living and working. Our approach is formally recognised by our Gold Award in the English Tourist Board Green Tourism accreditation scheme.

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Organic Regenerative Restorative

Regenerative farming through partnership

Bore Place acknowledges that it cannot achieve its regenerative farming ambitions by working alone. At the heart of our approach is the idea of partnership and working together. We have continued to work collaboratively with our five partners and their teams co-located at Bore Place who all contribute to our overall success, share our values and support our mission.

We manage our woodland proactively for wildlife and, through a coppicing programme, produce logs for our wood burners and materials for the Green Wood Workshop run by Underwoodsman Ltd. Our Underwoodsman courses restarted in the summer, providing the opportunity to learn traditional rural skills including hedge laying, pruning, basket and chair making and willow work, gate hurdles and charcoal making.

We entered year 3 of our 20-year joint venture partnership with Dan Burdett on our organic dairy farm. We are working hard together to expand our response to the climate crisis and produce more sustainable food that addresses environmental challenges such as the reduction in species diversity and soil quality.

Our organic Market Garden took advantage of the pandemic to successfully expand and increase the production of locally supplied organic vegetables and fruit to shops and vegetable box schemes.

Dan Burdett Organic Dairy Farmer

Dave Holton Cheesemaker John Waller Underwoodsman Chris Allwood Free Range Glamping

We continue to work with the award-winning Blackwoods Cheese Company which moved onsite in 2017 and uses the milk produced by the farm.

Free Range Glamping had a bumper year due to increased demand for UK holidays.

Metske van der Laan Organic Market Gardener 19

III. Financial sustainability and improving our assets

Financial sustainability

As we bounced back from COVID-19 restrictions and fully opened in July 2021, financial stability and long-term sustainability were the key priorities for the Trust in 2021/2022.

From April-June 2021 we benefited from £101,800 in funding support from the Cultural Recovery Fund to assist our reopening by covering some of our staff costs, essential maintenance, H&S, fire and tree management, as well as training and event funding.

Our Venue provides a core revenue stream to support the work of the Trust. During the pandemic, we used the opportunity to re-fresh rooms and redevelop some redundant buildings into holiday accommodation.

We re-opened in July 2021 bouncing back extremely quickly. We have hosted 6,965 overnight stays at Bore Place during the year with a wide range of groups staying on site who align with our work from the charity/not-forprofit, health, wellbeing and education sectors.

During 2021/22 we also benefited from substantial grants to support our education and community programme delivery, as well as to support our plans for Year 1 of our Strategic Plan (2022-23).

----- Start of picture text -----
Cultural Recovery Fund
£101,800
Funding to support re-opening
Ernest Cook Trust of Bore Place to visitors post Natural
£40,000 COVID-19 England
OWL residentials and
£4,500
funded Intern
Payments for
education visits
KCC
Children in Need £22,907
£31,267 Respite breaks and
holiday programme for
Family programme (10
young people with
families) additional needs
----- End of picture text -----

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We also secured significant funding to support the delivery of our Strategic Plan from 2022/23.

Farming in Protected Landscapes £244,683

Every day is Open Farm Sunday – connecting people to farming and nature – providing events and opportunities for all to visit and learn at Bore Place.

Green Recovery Challenge Fund £172,500

Bore Place: We are Nature programme - integrating people of all ages and abilities at the heart of our biodiversity work, to achieve better outcomes for wellbeing, environmental awareness and wildlife.

Rural Community Energy Fund £83,785

Development project to increase onsite electricity generation and the next phase of Bore Place decarbonisation.

Improving our assets

A key Bore Place project in 2021/22 was the completion of our farm infrastructure improvements to support our organic dairy farm.

.

We also developed plans for improving public access to Bore Place to enable visitors to visit Bore Place and the farm 365 days a year. We were delighted to secure funding for a Farm Welcome centre selling farm produce, improved farm trails with improved accessibility, a milking parlour experience and three new outdoor classroom spaces for delivery from 1st April 2022.

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IV. Raising our profile

The return of a more comprehensive public programme of events enabled us to further increase our profile locally through these events being featured in local publications. Traffic to the website was driven through a Google Ad Grant which drove traffic through people searching for our public events, school trips, accommodation and weddings. The grant of 10,000 USD was spent each month.

Throughout this period, we saw a return of many old venue visitors as well as new groups, keen to find a space to hold retreats and workshops, following the lifting of COVID-19 restrictions. Groups included NHS training, school leadership training, Qigong teacher training, church groups, as well as events held for Emergence Magazine (an influential publication), Big Society and Map Action. We continue to be regionally well known by course leaders keen to use Bore Place to hold retreats for a wide range of practices including yoga, creative writing and singing.

Number of social media followers

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Apr 2021 Apr 2022
2,500
2,000
1,500
1,000
500
0
Twitter Facebook Instagram
----- End of picture text -----

Looking to the future, we have secured funding to improve our website to better communicate our strategic objectives as well as streamline back-end administrative processes. We plan to replicate the success of our accommodation microsite to ensure that all our audiences are well served by the site and that relevant information is easy to navigate.

Plans are also in place to communicate and share our new Strategic Plan, to ensure our core priorities are embedded in all we do at Bore Place.

Our social media audiences continued to grow, with both Instagram and Facebook having over 2000 followers on each channel.

22

V. Developing our people

We recognise that the success of the Trust is reliant on an excellent team of staff, volunteers, sessional workers and partners. Our core Trust staff team numbered 17.15 FTE at the end of the financial year.

Our volunteers have continued to make a valuable contribution in 2021/22. We have benefited from valuable professional expertise and advice and labour in the gardens, work in our woodlands and advice on our plans for decarbonisation.

Our people focus in 2021/22 has been to:

Strengthening our board

The board has been recruited to ensure that it has the right experience and expertise to deliver on its charitable objectives and fulfil its legal responsibilities. Our board includes expertise in finance, business development, farming, safeguarding, education, the arts, law, people, ecology, the environment and social justice.

In February 2021, Paul Turner was elected as Chair, replacing Edward Wates, and Lindsay Pamphilon was elected as Vice Chair. To strengthen the board we recruited Jas Rai to lead as people trustee and Anna White as legal trustee.

The full board met four times over the year. The board is supported by Finance, Risk and Audit Committees which met monthly until July 2021 and then quarterly. During 2021/22 the Trust formed a People Committee, involving three lead trustees and two members of the Senior Leadership Team. It has plans to form an Estate Committee in 2022/23.

Strengthening our senior management

During 2021/22 the Trust has restructured to invest in the Senior Management Team to improve team resilience and increase strategic capacity. As a result, the Trust has created three Director roles (Venue and Marketing, Finance, Education and Community) that form the Senior Management Team with the CEO.

Our People Strategy

In recognition of the need for an excellent team of staff, volunteers, sessional workers and partners to deliver our Strategic Plan, the Trust began work on a People Plan during 2021/2022. This is being led by a crossorganisational working party with a commitment to having a People Strategy in place in the first half of 2022/23. 23

VI. Our finances

The trustees have reported that:

  1. All funds received have been devoted to the achievement of the charity's objectives.

  2. 2.The charity's assets include land and buildings at Bore Place of which the residual value is at least equal to that shown in the accounts. These are held to enable the charity to carry out its objectives.

  3. 3.Future plans for expenditure are made in accordance with the availability of funds, either from the Trust or through donations and/or grants from other sources.

  4. 4.The trustees have complied with the duty in section 18(5) of the 2011 Charities Act to have due regard to guidance published by the Charity Commission in that the work of the charity is for the public benefit.

The accounts have been prepared in line with FRS 102 and are based on fair value rather than cost. The accounts include the land and buildings at valuation rather than cost, the assets of the Trust are £14,203,008 at 31st March 2022.

The statement of financial activities shows a net profit of £221,780 (2021 £629,541) for the year after accounting for the depreciation of fixed assets and the increase in value of the investments held by the Trust. This includes capital grants of £10,000 (2021 £568,732). The net operating income before gains/losses on investments was a surplus of £101,948 (2021 a surplus of £527,594). On 31st March 2022 the Trust held £83,631in the company bank account which is restricted by the grant makers to be used for grant expenditure for planned programmes in 2022/23.

There was no gift aid donation from the subsidiary Commonwork Organic Farms Limited (2021 – £24,393).

With our strong public offer, external income already secured and further funding pending we are in a good position to manage next year’s budget.

24

Reserves

The Trust’s reserves on 31 March 2022 amounted to £14,203,008 (2021 – £13,891,228). A substantial proportion of these reserves finance the Trust’s investments in its land and buildings and long-term investments which were £14,571,324 on 31st March 2022. The trustees consider its expendable reserves to be its net current assets and readily realisable investments amounting to £651,272 (2021 £653,990). The Commonwork Trust had 6 months running costs in free reserves on 31st March 2022, which the Board and management team agreed was an appropriate level of reserves. Of the unrestricted reserves, £74,754 was designated as expenditure for projects in 2022/23 that included investing in Year 1 of the Strategic Plan and some site improvements.

Investment powers and policy

The trustees have unrestricted powers of investment.

The policy of the trustees regarding the Trust’s investments is to aim for a secure level of income from its investments whilst seeking to achieve capital growth in the investments held in stock market securities in companies meeting accepted ethical standards. The Trust’s investment in its unlisted subsidiary, Commonwork Organic Farms Limited, is aimed at producing a return from rental and trading surpluses while also maintaining the value of the Trust’s real estate. The farm provides an educational resource for the wider Trust activities carried out at Bore Place.

Risk management

The trustees reviewed the major risks the Trust faced during 2021/22 and developed strategies to mitigate the effects of any such events arising as far as possible. The Audit and Risk Committee continued to meet monthly to discuss and manage risk up until re-opening in July 2021. The Trust’s Strategic Risk Register has continued to be reviewed at quarterly trustee board meetings.

25

Looking Forward Our Strategic Plan 2022-2027

Nature & People Together

Vision, mission and priorities

Over the past year, we have worked collaboratively - staff, trustees, leadership team and our partners - to develop a Strategic Plan for the next 5 years 20222027.

Priorities

Vision

To create a world where people and nature work together to regenerate the planet and ourselves.

The following pages set out priorities and plans for the next 5 years from 1st April 2022 - 31st March 2027.

Mission

Our mission is to enhance the planet in all that we do, to inspire people to live sustainable, happy and fulfilling lives.

We will achieve this by inspiring people to connect with each other and with the Earth while taking responsibility for our shared future.

27

Vision and mission

Bore Place believes in a world where people and nature work together to regenerate the planet and ourselves.

----- Start of picture text -----
We will ensure we have a
positive impact in all that We will use our lived
we do.
experience and
extensive knowledge to
build robust evidence on
We will inspire, educate and
the impact of our
involve people to make a
regenerative practice.
difference and have a
positive impact.
Restorative and Inspire, educate
regenerative and involve
change
Understand
and Influence
----- End of picture text -----

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Our values

All of our work is shaped and influenced by our values. Our values set the tone for our organisation, how we work together, how we treat people and the impact that we wish to have.

Inspiring and learning through Inspire experience We inspire people to look after the Earth, enjoy the living world and become guardians of its future.

Regeneration in action

Regenerate

We seek to be a real-life model of regenerative practice and instil this at the core of everything we do.

Making a difference together

People and partnerships are at the heart of our organisation. Collaborate We acknowledge that to achieve real change we need to work with others. This collaborative approach is key to our success.

A fair and inclusive environment

We always champion and promote inclusion, equality, and diversity. Be inclusive We aspire to be an organisation where people feel valued and included equally.

Personal and collective responsibility

Take ownership

Bore Place belongs to us all. Together we ensure we care for the land and provide a well-managed, accessible space, rich in wildlife where our values are central to our actions and choices.

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PRIORITY 1 Restorative and regenerative change

We are committed to making best use of the assets of the Bore Place estate to provide a model of restorative and regenerative change, as well as sharing its unique environment with others.

Our first 12 months

PRIORITY 1.1

Our farming, food production and land management will be regenerative, by improving our landscape, biodiversity and practices whilst producing food and crops, and increasing jobs, knowledge and skills.

30

PRIORITY 1 Restorative and regenerative change

Our first 12 months

PRIORITY 1.2

We will manage our built and rural heritage (buildings and outdoor spaces) and our activities in a manner that actively enhances the environment and our rural economy whilst adopting the circular economy principles, and achieving net zero carbon emissions across our estate by 2030.

31

PRIORITY 2 Inspire, educate and involve

We will inspire and educate people to make a difference and positively impact the environment in their daily lives while connecting with nature to support their health, wellbeing, and development.

PRIORITY 2.1

We will provide inspiring and creative educational opportunities for people who visit us.

Our first 12 months

Re-establish and expand our programmes for children and young people by running school visits, respite breaks, clubs and holiday programmes to focus on three core strands of work:

Schools@BorePlace – onsite school visits for children and young people, with targeted programmes for children and young people with Special Educational Needs (SEN) and Social Emotional and Mental Health (SEMH) status or who are disabled or marginalised from the conventional education system. This will be a combination of day visits, residential programmes and accredited programmes.

Create a wildlife survey programme for our schools, volunteers, staff and volunteers to contribute to.

Increase our accredited learning programmes so more young people can gain a qualification for their achievements at Bore Place.

32

PRIORITY 2 Inspire, educate and involve

PRIORITY 2.2

Developing accessible gardens, woodland and rural walks and trails to ensure access to the natural world for all people we reach.

Our first 12 months

33

PRIORITY 2 Inspire, educate and involve

PRIORITY 2.3 Managing a recreation, holiday and events venue that supports wellbeing and creates a positive social and environmental impact.

Our first 12 months

34

PRIORITY 3 Understand and influence

This is a new area of work for Bore Place, and in the first 12 months, we will focus on building relationships with individuals and organisations that can support us in this work. A key part of our ability to influence lies in our personal experience and the evidence we gather to demonstrate the beneficial impact of our approach to:

farming and food production

PRIORITY 3

We will use our lived experience and extensive knowledge to build robust evidence on the impact of our regenerative practice in all our work, to influence leaders and decision-makers to take action and support change for a sustainable future.

using the natural world to inspire, educate, connect and restore people

Our first 12 months

We will research and identify suitable partners – expert researchers, academics, consultants and practitioners – to support us to establish our baseline data, and demonstrating the beneficial impact of our work.

We will conduct robust stakeholder mapping exercises and create an action plan for influencing.

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Our Statement of Accounts 1April 2021 - 31 March 2022

Nature & People Together

Statement of Trustees' Responsibilities

The trustees (who are also the directors of the Commonwork Trust for the purposes of company law) are responsible for preparing the Report of the Trustees 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 company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and to 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:

Approved by order of the board of trustees on 22nd December 2022 and signed on its behalf by:

……………………… P Turner - Chair of Trustees

37

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF COMMONWORK TRUST

Opinion

We have audited the financial statements of Commonwork Trust (the 'charitable company') for the year ended 31st March 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement 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 (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the charitable company's affairs as at 31st March 2022 and of its 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the 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 trustees' 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 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 trustees 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 report of the independent auditors 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.

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 this gives rise to a material misstatement in the financial statements themselves. 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 Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the Report of the Trustees has been prepared in accordance with applicable legal requirements.

38

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF COMMONWORK TRUST

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, 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 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 charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial 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 a Report of the Independent Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

39

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF COMMONWORK TRUST

To address the risk of fraud through management bias and override of controls, we:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and management and the inspection of regulatory and 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 Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

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. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' 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, for our audit work, for this report, or for the opinions we have formed.

Isobel Currie (Senior Statutory Auditor) for and on behalf of Currie Accountancy Limited Chartered Accountants Statutory Auditors First Floor 13a High Street Edenbridge Kent TN8 5AB

Date: 22nd December 2022

40

Registered Company 9254227 Registered Charity 1160725

COMMONWORK TRUST

GROUP STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2022

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS
FROM
Donations and legacies
3
4,627
Charitable activities
Bore Place activities 6
783,120
Commercial trading activities
4
167,796
Other trading activities
4
16,171
Investment income
5
121,938
Other income
500
Total
1,094,152
EXPENDITURE ON
Raising funds
7
4,551
Commercial trading activities
187,586
Charitable activities
8
Bore Place activities
798,385
Total
990,522
Net gains on investments
119,832
NET INCOME/(EXPENDITURE)
223,462
Transfers between funds
24
(1,682)
Net movement in funds
221,780
RECONCILIATION OF FUNDS
Total funds brought forward
13,981,228
TOTAL FUNDS CARRIED
FORWARD
14,203,008
Restricted
funds
£
-
229,712
-
-
-
-
229,712
-
-
241,394
241,394
-
(11,682)
11,682
-
-
-
Endowment
fund
£
10,000
-
-
-
-
-
10,000
-
-
-
-
-
10,000
(10,000)
-
-
-		 2022

Total
funds
£
14,627
1,012,832
167,796
16,171
121,938
500
1,333,864
4,551
187,586
1,039,779
1,231,916
119,832
221,780
-
221,780
13,981,228
14,203,008		 2021
Total
funds
£
572,067
437,613
119,339
14,597
94,252
3,200
1,241,068
2,402
132,281
578,791
713,474
101,947
629,541
-
629,541
13,351,687
13,981,228

The notes form part of these financial statements

41

COMMONWORK TRUST

GROUP BALANCE SHEET 31ST MARCH 2022

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
15
11,973,140
Investments
Investments
16
369,779
Investment property
17
2,228,405
14,571,324
CURRENT ASSETS
Stocks
4,228
Debtors
18
140,381
Cash at bank and in hand
691,675
836,284
CREDITORS
Amounts falling due within one
year
19
(554,791)
NET CURRENT ASSETS
281,493
TOTAL ASSETS LESS
CURRENT LIABILITIES
14,852,817
CREDITORS
Amounts falling due after more
than one year
20
(520,852)
PROVISIONS FOR LIABILITIES
23
(128,957)
NET ASSETS
14,203,008
FUNDS
24
Unrestricted funds
TOTAL FUNDS
Restricted
funds
£
-
-
-
-
-
-
83,630
83,630
(83,630)
-
-
-
-
-
Endowment
fund
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 2022

Total
funds
£
11,973,140
369,779
2,228,405
14,571,324
4,228
140,381
775,305
919,914
(638,421)
281,493
14,852,817
(520,852)
(128,957)
14,203,008
14,203,008
14,203,008		 2021
Total
funds
£
11,895,178
354,594
2,116,647
14,366,419
3,853
74,842
726,985
805,680
(506,284)
299,396
14,665,815
(586,702)
(97,885)
13,981,228
13,981,228
13,981,228

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 22/12/2022 and were signed on its behalf by:

.............................................

P Turner – Chair of Trustees

42

The notes form part of these financial statements

COMMONWORK TRUST

BALANCE SHEET FOR THE CHARITY ALONE 31ST MARCH 2022

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
15
10,925,992
Investments
Investments
16
602,498
Investment property
17
2,228,405
13,756,895
CURRENT ASSETS
Stocks
4,228
Debtors
18
623,945
Cash at bank and in hand
496,676
1,124,849
CREDITORS
Amounts falling due within one
year
19
(346,101)
NET CURRENT ASSETS
778,748
TOTAL ASSETS LESS
CURRENT LIABILITIES
14,535,643
CREDITORS
Amounts falling due after more
than one year
20
(335,141)
NET ASSETS
14,200,502
FUNDS
24
Unrestricted funds
TOTAL FUNDS
Restricted
funds
£
-
-
-
-
-
-
83,630
83,630
(83,630)
-
-
-
-
Endowment
fund
£
-
-
-
-
-
-
-
-
-
-
-
-
-		 2022

Total
funds
£
10,925,992
602,498
2,228,405
13,756,895
4,228
623,945
580,306
1,208,479
(429,731)
778,748
14,535,643
(335,141)
14,200,502
14,200,502
14,200,502		 2021
Total
funds
£
10,961,662
504,430
2,116,647
13,582,739
3,853
566,310
544,451
1,114,614
(342,794)
771,820
14,354,559
(379,559)
13,975,000
13,975,000
13,975,000

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 22/12/2022 and were signed on its behalf by:

.............................................

P Turner – Chair of Trustees

43

COMMONWORK TRUST

GROUP CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2022

2022 2021
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 336,170 294,174
Interest paid (23,600) (19,963)
Net cash provided by operating activities 312,570 274,211
Cash flows from investing activities
Purchase of tangible fixed assets (213,992) (811,241)
Purchase of investment property (11,662) (262,514)
Sale of tangible fixed assets 3,350 103,955
Interest received 1,462 1,614
Dividends received 4,266 3,854
Net cash used in investing activities (216,576) (964,332)
Cash flows from financing activities
New loans in year - 523,037
Loan repayments in year (57674) (27,015)
Income attributable to endowment 10,000 568,732
Net cash (used in)/provided by financing activities (47,674) 1,064,754
Change in cash and cash equivalents in
the reporting period 48,320 374,633
Cash and cash equivalents at the
beginning of the reporting period 726,986 352,353
Cash and cash equivalents at the end of
the reporting period 775,306 726,986

44

COMMONWORK TRUST

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2022

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

2022 2021
£ £
Net income for the reporting period (as per the Statement of
Financial Activities) 221,780 629,541
Adjustments for:
Depreciation charges 121,540 92,363
Gain on investments (119,832) (101,441)
Profit on disposal of fixed assets 922 (46,433)
Interest received (1,462) (1,614)
Interest paid 23,600 19,963
Dividends received (4,266) (3,854)
Income attributable to endowment (10,000) (568,732)
Investment management fee 4,551 2,402
Repairs previously capitalised 10,217 -
Loss on farm contract (12,698) 16,741
Deferred tax charge in commercial trading 43,770 (12,698)
(Increase)/decrease in stocks (375) 2,164
(Increase)/decrease in debtors (102,642) 61,527
Increase in creditors 161,065 204,245
Net cash provided by operations 336,170 294,174
2. ANALYSIS OF CHANGES IN NET FUNDS
At 1.4.21 Cash flow At 31.3.22
£ £ £
Net cash
Cash at bank and in hand 726,985 48,320 775,305
726,985 48,320 775,305
Debt
Debts falling due within 1 year (89,163) (8,175) (97,338)
Debts falling due after 1 year (586,702) 65,850 (520,852)
(675,865) 57,675 (618,190)
Total 51,120 105,995 157,115

45

COMMONWORK TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Income

All income is recognised in the Statement of Financial Activities when all of the following criteria are met:

Income received in advance of the provision of a service is deferred until the criteria for income are met. Income given specifically to provide a fixed asset is disclosed as an endowment fund. When the criteria for the income are met the income is transferred to the appropriate fund unless the fund is a permanent endowment. The income is not deferred over the life of the asset.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis. Resources expended on charitable, fund-raising and publicity costs comprise those costs directly attributable to the various programmes of work carried on by the trust or fund-raising and marketing activities, respectively, and the support costs indirectly attributable.

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities.

Governance expenditure represents the costs of running the trust. Costs are allocated to specific funds only where they are identified as being directly attributable to those funds. The Trust initially identifies the costs of its support functions and then identifies those costs which relate to the governance function. Irrecoverable VAT is charged as a cost against the activity for which the expenditure is incurred.

Tangible fixed assets

Tangible fixed assets are depreciated on an individual basis in equal instalments over their estimated useful lives to estimated net realisable value as follows:

Freehold property: over 50 years Motor vehicles: over 10 years

Fixtures and fittings and computer equipment: over 3 to 40 years

Freehold land is not depreciated.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

46

COMMONWORK TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2022

1. ACCOUNTING POLICIES - continued

Taxation

The Trust is exempt from corporation tax on its charitable activities but the trading subsidiary's income is potentially taxable.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Trustees may choose during the reporting period to set aside a part of the unrestricted funds to be used for a particular future project or commitment. By earmarking funds in this way, the trustees set up a designated fund that remains part of the unrestricted funds of the charity. This does not legally restrict the trustees’ discretion in how to apply the unrestricted funds that they have earmarked.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The Trust makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

Going concern

The trustees are of the view that the charity has sufficient assets which can be realised in an orderly manner and that the future income from the farming subsidiary, the provision of courses and investments is sufficiently secure to mean that the charity will continue to operate for the next 12 to 18 months and that on this basis the assessment of the trustees is that the charity is a going concern.

Investment properties

The valuation of investment properties is based on an insurance valuation obtained when the Trust was first set up. The change in value, apart from additions at cost, is estimated by adjusting the value each year by the percentage change in the insurance valuations of properties for which an insurance valuation is available.

Residual value of fixed assets

Fixed assets, including freehold properties excluding land, are depreciated over their useful lives to an estimated residual value. Residual value is the amount that would currently be obtained from the disposal of the asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life. Management have reviewed the residual value of all assets and adjusted the depreciation charged accordingly.

47

COMMONWORK TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2022

3. DONATIONS AND LEGACIES: GROUP

Donations
Grants
Grants received, included in the above, are as follows:
Rural Development Plan for England
Leader
Ibstock
4.
TRADING ACTIVITIES: GROUP
Commercial trading: farm contract
Commercial trading: other farm income
Power supply
5.
INVESTMENT INCOME: GROUP
Rents received
Dividends
Interest		 2022
£
4,627
10,000
14,627
2022
£
-
-
10,000
10,000
2022
£
116,578
51,218
16,171
183,967
2022
£
116,210
4,266
1,462
121,938		 2021
£
3,335
568,732
572,067
2021
£
453,531
115,201
-
568,732
2021
£
57,355
61,984
14,597
133,936
2021
£
88,784
3,854
1,614
94,252

48

COMMONWORK TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2022

6. INCOME FROM CHARITABLE ACTIVITIES: GROUP

INCOME FROM CHARITABLE ACTIVITIES: GROUP
Activity
Centre income
Bore Place activities
Fees
Bore Place activities
Catering
Bore Place activities
Vegetable garden sales
Bore Place activities
Grants
Bore Place activities
Kickstart funding
Bore Place activities		 2022
£
544,015
145,762
26,036
5,724
285,156
6,139
1,012,832		 2021
£
153,336
48,814
2,644
7
232,812
-
437,613

The income from activities at Bore Place mainly comprises the provision of events and courses at Bore Place which fall within the objectives of the charity. It is neither appropriate nor possible to disclose seperately activities undertaken to further the charity's objectives and commercial activities undertaken to raise funds. Each activity will satisfy both objectives in combination to varying degrees.

Grants received, included in the above, are as follows:

2022
£
Government furlough scheme
-
Local government grants
54,809
Children in Need
22,705
Ernest Cook Trust
34,180
Rochester and Canterbury Dioceses Poverty and Hope
4,800
Natural England
3,375
Postcode Lottery
7,554
Cultural Recovery Fund
101,789
Green Recovery Fund
52,981
282,193		 2021
£
160,343
48,913
6,521
-
5,600
4,500
6,935
-
-
232,812

7.

RAISING FUNDS: GROUP
Investment management costs
2022 2021
£ £
Portfolio management 4,551 2,402

49

COMMONWORK TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2022

8. CHARITABLE ACTIVITIES COSTS: GROUP

Bore Place activities
9.
SUPPORT COSTS: GROUP
Administration
£
Bore Place activities
170,268
Support costs, included in the above, are as follows:
Wages
Social security
Pensions
Telephone
Postage and stationery
Sundries
Professional fees
Training
Recruitment costs
Computer costs
Trustees' remuneration etc
Auditors' remuneration
Governance recruitment
10.
NET INCOME/(EXPENDITURE): GROUP
Net income/(expenditure) is stated after charging/(crediting):
Auditors' remuneration for audit
Auditors’ remuneration for accounts and taxation work
Provision for deferred tax
Depreciation - owned assets
Loss/(profit) on disposal of fixed assets		 Direct
Costs
£
846,396
Information
technology
£
11,619		 Support
costs (see
note 9)
£
193,383
Governance
costs
£
11,496
2022
Bore
Place
activities
£
108,673
11,966
3,333
3,892
1,849
12,041
19,074
4,024
5,416
11,619
681
10,665
150
193,383
2022
£
5,665
5,000
43,770
121,540
922		 Totals
£
1,039,779
Totals
£
193,383
2021
Total
activities
£
97,737
10,215
2,617
5,212
1,153
7,770
24,595
1,986
-
8,792
-
9,000
-
169,077
2021
£
4,500
4,500
(12,698)
92,363
(46,433)

50

COMMONWORK TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2022

11. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31st March 2022 nor for the year ended 31st March 2021.

Trustees' expenses

Trustees' expenses
2022 2021
£ £
Trustees' expenses 681 -

The expenses paid to 2 trustees in respect of travel and recruitment costs.

The trustee W G Waterfield is a director and shareholder in Waterfield & White Limited. Waterfield & White were paid fees of £4,972 (2021 £2,354) for the provision of farm management advice to Commonwork Organic Farms Limited, the trust's trading subsidiary. The services of Waterfield & White were used because their fees were charged at very competitive rates.

12. STAFF COSTS: GROUP

2022
£
Wages and salaries
495,752
Social security costs
41,545
Other pension costs
32,603
569,900
The average monthly number of employees during the year was as follows:
2022
Bore Place staff
17		 2021
£
334,520
24,038
9,139
367,697
2021
17

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2022 2021
£70,001 - £80,000 1 -

13. MATERIAL TRANSFERS

During the year the trustees have designated funds of £74,754 from the unrestricted general funds to be used to support projects that will be undertaken in the year ended 31st March 2023. These projects are not funded by grants.

51

COMMONWORK TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2022

14.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
Restricted
funds
funds
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
3,335
-
Charitable activities
Bore Place activities
437,613
-
Commercial trading activities
119,339
-
Other trading activities
14,597
-
Investment income
94,252
-
Other income
3,200
-
Total
672,336
-
EXPENDITURE ON
Raising funds
2,402
-
Commercial trading activities
132,281
-
Charitable activities
Bore Place activities
578,791
-
Total
713,474
-
Net gains on investments
101,947
-
NET INCOME
60,809
-
Transfers between funds
736,446
(167,714)
Net movement in funds
824,255
(167,714)
RECONCILIATION OF FUNDS
Total funds brought forward
13,183,973
167,714
TOTAL FUNDS CARRIED FORWARD
13,981,228
-
Endowment
fund
£
568,732
-
-
-
-
-
568,732
-
-
-
-
-
568,732
(568,732)
-
-
-
Total
funds
£
572,067
437,613
119,339
14,597
94,252
3,200
1,241,068
2,402
132,281
578,791
713,474
101,947
629,541
-
629,541
13,351,687
13,981,228

52

COMMONWORK TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2022

15. TANGIBLE FIXED ASSETS: GROUP

COST
At 1st April 2021
Additions
Reclassification
Disposals
At 31st March 2022
DEPRECIATION
At 1st April 2021
Charge for year
Disposals
At 31st March 2022
NET BOOK VALUE
At 31st March 2022
At 31st March 2021		 Freehold
property
£
11,466,759
5,754
-
-
11,472,513
839,831
34,853
-
874,684
10,597,829
10,626,928		 Fixtures

and

fittings
£
886,028
42,523
(10,217)
-
918,334
486,134
40,200
-
526,334
392,000
399,894		 Farm
buildings
£
921,309
46,463
-
(85,398)
882,374
234,282
30,280
(81,126)
183,436
698,938
687,027		 Plant and

equipment
£
260,437
119,251
-
-
379,688
79,108
16,207
-
95,315
284,373
181,329

Totals
£
13,534,533
213,991
(10,217)
(85,398)
13,652,909
1,639,355
121,540
(81,126)
1,679,769
11,973,140
11,895,178

Included in cost or valuation of land and buildings is freehold land of £3,852,864 (2021 - £3,852,864) which is not depreciated.

The residual value of the unimproved freehold properties is estimated to be the carrying amount of £9,910,530 including land at 31st March 2022. No depreciation has therefore been charged.

53

COMMONWORK TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2022

15. TANGIBLE FIXED ASSETS: CHARITY

COST
At 1st April 2021
Additions
Reclassification
At 31st March 2022
DEPRECIATION
At 1st April 2021
Charge for year
At 31st March 2022
NET BOOK VALUE
At 31st March 2022
At 31st March 2021		 Freehold
property
£
11,145,903
5,754
-
11,151,657
636,121
27,698
663,819
10,487,838
10,509,782		 Fixtures

and

fittings
£
886,028
42,523
(10,217)
918,334
486,134
40,200
526,334
392,000
399,894		 Motor
vehicles
£
44,172
-
-
44,172
13,252
4,417
17,669
26,503
30,920		 Computer
equipment
£
41,812
2,030
-
43,842
20,746
3,445
24,191
19,651
21,066
Totals
£
12,117,915
50,307
(10,217)
12,158,005
1,156,253
75,760
1,232,013
10,925,992
10,961,662

Included in cost or valuation of land and buildings is freehold land of £3,852,864 (2021 - £3,852,864) which is not depreciated.

The residual value of the unimproved freehold properties is estimated to be the carrying amount of £9,910,530 including land at 31st March 2022. No depreciation has therefore been charged.

16. FIXED ASSET INVESTMENTS: GROUP

Listed
investments
£
MARKET VALUE
At 1st April 2021
354,594
Revaluations
15,185
At 31st March 2022
369,779
NET BOOK VALUE
At 31st March 2022
369,779
At 31st March 2021
354,594		 Totals
£
354,594
15,185
369,779
369,779
354,594

The listed investment assets comprise a portfolio at the stockbrokers valued at £327,029 (2021 £308,569) and COIF Charities Fixed Interest Fund Income Units valued at £42,750 (2021 £46,026). The brokers portfolio included overseas equities valued at £133,416 at the year end (2021 £114,134).

The investments have been held for many years and revalued each year in accordance with the statutory disclosures required. It is no longer possible to provide a comparison of the cost and valuations over the years the assets have been held.

54

COMMONWORK TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2022

16. FIXED ASSET INVESTMENTS: CHARITY

Shares in
group
Listed
undertakings
investments
£
£
MARKET VALUE
At 1st April 2021
149,836
354,594
Revaluations
82,883
15,185
At 31st March 2022
232,719
369,779
NET BOOK VALUE
At 31st March 2022
232,719
369,779
At 31st March 2021
149,836
354,594		 Totals
£
504,430
98,068
602,498
602,498
504,430

The listed investment assets comprise a portfolio at the stockbrokers valued at £327,029 (2021 £308,569) and COIF Charities Fixed Interest Fund Income Units valued at £42,750 (2021 £46,026). The brokers portfolio included overseas equities valued at £133,416 at the year end (2021 £114,134).

The investments have been held for many years and revalued each year in accordance with the statutory disclosures required. It is no longer possible to provide a comparison of the cost and valuations over the years the assets have been held.

The company's investments at the balance sheet date in the share capital of companies include the following:

Commonwork Organic Farms Limited

Registered office: Bore Place, Chiddingstone, Edenbridge, Kent TN8 7AR Nature of business: Dairy farming

%
Class of share:
holding
Ordinary £1
100
2022
£
Aggregate capital and reserves
232,719
Profit/(loss) for the year
82,883		 31.3.21
£
149,836
(506)

55

COMMONWORK TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2022

17. INVESTMENT PROPERTY: GROUP AND CHARITY

FAIR VALUE
At 1st April 2021
Additions
Revaluation
At 31st March 2022
NET BOOK VALUE
At 31st March 2022
At 31st March 2021		 £
2,116,647
11,662
100,096
2,228,405
2,228,405
2,116,647

The rents from properties included above at a valuation of £1,853,099 are collected and retained by the subsidiary. The rents from the remaining properties are collected by the Trust and are included in the income from Bore Place activities.

The properties were vested in the Trust when it was set up on 1st July 2015 following the merger of Commonwork Land Trust (established July 1977) and Neil Wates Charitable Trust (established March 1966). It is no longer possible to determine the original cost of the properties.

18. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR: GROUP

2022
£
Trade debtors
88,403
Other debtors
33,682
VAT
18,296
140,381
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR: CHARITY
2022
£
Trade debtors
50,391
Amounts owed by group undertakings
493,072
Other debtors
53,283
Recharges recoverable
3,655
VAT
23,544
623,945		 2021
£
26,520
-
48,322
74,842
2021
£
14,185
493,474
12,348
-
46,303
566,310

18. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR: CHARITY

The amount due from the wholly owned subsidiary is technically payable on demand and no interest is charged. The trust has confirmed that it is prepared to wait for repayment and holds no security for the debt.

56

COMMONWORK TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2022

19. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR: GROUP

2022
£
Bank loans and overdrafts (see note 21)
76,041
Other loans (see note 21)
21,297
Payments on account
102,045
Trade creditors
109,877
Social security and other taxes
16,457
Other creditors
3,993
Pension
2,951
Accrued expenses
217,864
Deferred grants on capital expenditure in subsidiary
4,266
Deferred grants
83,630
638,421
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR: CHARITY
2022
£
Bank loans and overdrafts (see note 21)
51,052
Other loans (see note 21)
10,648
Payments on account
102,045
Trade creditors
34,554
Social security and other taxes
16,457
Other creditors
230
Pension
2,951
Accrued expenses
128,164
Deferred grants
83,630
429,731		 2021
£
77,496
11,667
142,783
476
6,426
8,923
1,426
177,166
5,570
74,351
506,284
2021
£
43,522
5,833
142,783
4,190
6,426
-
1,426
64,263
74,351
342,794

19. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR: CHARITY

20. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR: GROUP

2022
£
Bank loans (see note 21)
442,149
Other loans (see note 21)
78,703
520,852		 2021
£
498,369
88,333
586,702

The group took out bounceback loans of £100,000 during the pandemic on which repayments have been deferred until October 2022 although interest has been charged. No security is required for these loans and they have been included in the figures for other creditors.

20. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR: CHARITY

2022
£
Bank loans (see note 21)
295,790
Other loans (see note 21)
39,351
335,141		 2021
£
335,392
44,167
379,559

The Trust took out a bounceback loan of £50,000 during the pandemic on which repayments have been deferred until October 2022 although interest has been charged. No security is required for this loan and it has been included in the figures for other creditors.

57

COMMONWORK TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2022

21. LOANS: GROUP

An analysis of the maturity of loans is given below:

2022
£
Amounts falling due within one year on demand:
Bank loans
76,041
Bounceback loans
21,297
97,338
Amounts falling between one and two years:
Bank loans
76,041
Bounceback loan
21,297
97,338
Amounts falling due between two and five years:
Bank loans
204,534
Bounceback loan
57,406
261,940
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans
115,171
Bounceback loan
-
115,171		 2021
£
43,522
5,833
49,355
51,052
10,000
61,052
153,157
30,000
183,157
131,183
4,167
135,350

One bank loan is repayable in monthly instalments of £2,616 until December 2025. The second loan is repayable in monthly instalments of £1,654 until June 2035. The subsidiary’s loan is repayable in various instalments of up to £2,177 per month.

58

COMMONWORK TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2022

21. LOANS: CHARITY

An analysis of the maturity of loans is given below:

2022
£
Amounts falling due within one year on demand:
Bank loans
51,052
Bounceback loan
10,648
61,700
Amounts falling between one and two years:
Bank loans
51,052
Bounceback loan
10,648
61,700
Amounts falling due between two and five years:
Bank loans
129,567
Bounceback loan
28,703
158,270
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans
115,171
Bounceback loan
-
115,171		 2021
£
43,522
5,833
49,355
51,052
10,000
61,052
153,157
30,000
183,157
131,183
4,167
135,350

One bank loan is repayable in monthly instalments of £2,616 until December 2025. The second loan is repayable in monthly instalments of £1,654 until June 2035.

22. SECURED DEBTS: GROUP

The following secured debts are included within creditors:

2022 2021
£ £
Bank loans 518,190 575,865

The bank loans are secured by charges on the properties owned by the Trust and by a fixed and floating charge over all the assets of the Trust.

22. SECURED DEBTS: CHARITY

The following secured debts are included within creditors:

2022 2021
£ £
Bank loans 346,842 378,914

The bank loans are secured by a charge on one of the properties owned by the Trust and by a fixed and floating charge over all the assets of the Trust.

59

COMMONWORK TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2022

23. PROVISIONS FOR LIABILITIES: GROUP

2022
£
Deferred tax: Accelerated capital allowances
170,765
Deferred tax: Tax losses carried forward
(54,122)
Loss on farm contract
12,312
128,957
Deferred tax Farm
Balance at 1stApril 2021
72,873
Charge/credit to income statement during the year
12,312
128,957		 2021
£
72,873
25,012
97,885
contract
25,012
(12698)
12,314

These provisions all arise in the trading subsidiary.

60

COMMONWORK TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2022

24. MOVEMENT IN FUNDS: GROUP

MOVEMENT IN FUNDS: GROUP
Net Transfers
movement between
At
At 1.4.21
in funds		 funds 31.3.22
£ £ £ £
Unrestricted funds
General fund 13,981,228 223,462 (76,436) 14,128,254
Designated funds - - 74,754 74,754
13,981,228 223,462 (1,682) 14,203,008
Restricted funds
Ernest Cook Trust - (1,666) 1,666 -
Children in Need - (9,962) 9,962 -
Cultural Recovery Fund - (54) 54 -
- (11,682) 11,682 -
Endowment funds
Expendable endowment - 10,000 (10,000) -
TOTAL FUNDS 13,981,228 221,780 - 14,203,008
Net movement in funds, included in the above are as follows:
Incoming
Resources		 Gains and
Movement
resources
expended		 losses in funds
£ £ £ £
Unrestricted funds
General fund 1,094,152 (990,522) 119,832 223,462
Restricted funds
Ernest Cook Trust 34,180 (35,846) - (1,666)
Postcode Local 7,554 (7,554) - -
Children in Need 22,705 (32,667) - (9,962)
Green Recovery Fund 52,981 (52,981) - -
Cultural Recovery Fund 101,789 (101,843) - (54)
Web Development 4,160 (4,160) - -
Other restricted funds 6,343 (6,343) - -
229,712 (241,394) - (11,682)
Endowment funds
Expendable endowment 10,000 - - 10,000
TOTAL FUNDS 1,333,864 (1,231,916) 119,832 221,780

61

COMMONWORK TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2022

24. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Restricted funds
Grow2Grow
Endowment funds
Expendable endowment
TOTAL FUNDS		 At 1.4.20
£
13,183,973
167,714
-
13,351,687		 Net
movement

in funds
£
60,809
-
568,732
629,541		 Transfers

between
funds
£
736,446
(167,714)
(568,732)
-
At
31.3.21
£
13,980,228
-
-
13,980,228

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Endowment funds
Expendable endowment
TOTAL FUNDS		 Incoming
resources
£
672,336
568,732
1,241,068		 Resources
expended
£
(713,474)
-
(713,474)		 Gains and
losses
£
101,947
-
101,947		 Movement
in funds
£
60,809
568,732
629,541

The general fund includes a non-distributable reserve of £8,304,058 (2021 £8,304,058). This represents the increase in value of the fixed assets at transition to FRS 102 of fair value over cost as adjusted by subsequent depreciation.

Most of the grant income of the Trust is received with restrictions on how the money should be spent rather than being performance related grants to be applied to the general activities of the Trust. For clarity only the material restricted funds are shown in these accounts. Further details of some of these funds are:

Cultural Recovery Heritage Project

Funding recovery of cultural and heritage assets and organisations after the pandemic

Ernest Cook Trust

Outdoor learning residentials for disadvantaged school pupils and funding for an internship

Postcode Local

Gardening and wildlife community programmes

Children in Need

Programme for families with a young person with additional needs

62

COMMONWORK TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2022

24. MOVEMENT IN FUNDS - continued

Green Recovery: DEFRA Green Recovery Challenge

Fund to integrate people of all ages and abilities in biodiversity programmes

Sevenoaks District Council

Funding for a changing places hoist

Natural England

School farm visits

Transfers between funds

During the year the trustees have designated funds from the unrestricted general funds to be used to support projects that were discussed in the year but are to be undertaken in the year ended 31st March 2023. These projects are not funded by grants.

Invest in year 1 of strategic plan
Educational equipment development - Middle Yard kitchen
conversion
Match funding required for tracks to match FiPL grant
Upgrade wifi infrastructure

Total		 £
60,000
3,000
8,054
3,700

74,754

25. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31st March 2022 other than intercompany transactions which are netted off in these accounts.

This page does not form part of the statutory financial statements

63

FUNDERS & SUPPORTERS

Arla

Arts Award

BMW Foundation

BromleyY

John Muir Award

Kent Community Foundation

Kent County Council

Kent Downs Area of Outstanding Natural Beauty

Children in Need

LEAF

Council for Learning Outside the Classroom

Cycle Friendly Places

Department for Digital, Culture, Media & Sport

Department for Environment, Food & Rural Affairs

Farming & Wildlife Advisory Group

Gravesham Borough Council

Green Tourism Award

High Weald Area of Outstanding Natural Beauty

Ibstock Enovert Trust

NHS Community Health Foundation

Natural England

North East Kent College

Postcode Local Trust

Produced in Kent

SES Water

Sevenoaks District Council

Soil Association

Tonbridge & Malling Borough Council

Tunbridge Wells Borough Council

Visit Kent

Chiddingstone Kent TN8 7AR 01732 463255 www.boreplace.org

Home of the Commonwork Trust registered charity 1160725 & Commonwork Organic Farms Ltd. registered company 1977080