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← Commonwork Trust

2024-03-31-accounts

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Welcome to the Commonwork Trust's 2023-2024 annual

report

Here we look at our impact and how we have met the needs of our clients and beneficiaries, as well as our achievements in delivering Year 2 of our 5-Year Strategic Plan (published in April 2022).

This report sets out our vision and mission and reports on our achievements in delivering our priorities:

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Commonwork Trust registered company limited by guarantee 9254227 and registered as a charity number 1160725

Contents

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Administrative

information

Board of Trustees

H. Bird

L. Davies

M. Fairless

L. Pamphilon

E. Renals

W. Waterfield

N. E. Wates

A. White

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

CEO & SLT

CEO - Caroline Arnold (resigned April 2024), Anna Bullen (appointed April 2024)

Finance Director - Kate Oprava (resigned July 2024), Rosalind Stockeld (appointed July 2024) Education Director - Abbi Caliandro

Venue and Marketing Director - Florence Clark

Statutory Auditor

Azets Audit Services, First Floor, River House, 1 Maidstone Road, Sidcup. Kent. DA14 5RH

Registered Office

Bore Place, Bore Place Road, Chiddingstone, Kent TN8 7AR

Structure and governance

Commonwork Trust was established on 01 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 dedicated to regenerative organic farming at Bore Place.

According to the trust deed, the charity’s mission is to allocate its capital or income to charitable purposes or activities as determined by the trustees. The charity is governed by its Memorandum and Articles of Association.

There is a formal procedure for the recruitment and induction of trustees, who do not serve for any specific term. Appointments are made based on the needs of the Trust’s ongoing work.

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Chair’s introduction

We aspire to a world where people and nature work together to regenerate both our planet and ourselves. Bore Place, home to the Commonwork Trust, is a 500-acre estate dedicated to inspiring people to live sustainable, happy, and fulfilling lives.

Our founders were committed to this vision. In 1976, Neil and Jenifer Wates became deeply concerned about the exploitation of the world’s natural resources and the lack of opportunities for people to reach their full potential. They sought to bring about real change, recognising that such transformation would require a fundamental shift in how society thinks and operates. This focus remains at the core of our work today.

2023-24 marked a significant transition in our organisation’s leadership. After eight years of dedicated service, Caroline Arnold stepped down as CEO. Under her guidance, the organisation experienced substantial growth, strengthened partnerships, and a deepened commitment to our mission. We extend our heartfelt gratitude to Caroline for her outstanding leadership. In December 2023, we appointed Anna Bullen as our new CEO. Anna joined us from the Centre of Alternative Technology where she led the Zero Carbon Britain Innovation Lab. With a wealth of experience and a fresh vision, we are excited about our future with Anna leading the organisation into its next phase of development, building on the foundations of the last 40-plus years.

Our focus continues to be our sustainable and regenerative approach to farming and habitat management. We are committed to improving the biodiversity of our estate and farming better. Through our work, we have discovered how connecting people with nature can foster restoration, create meaningful experiences, and transform lives. People and nature are central to our mission - working together to transform one another.

In 2023-24, we facilitated 10,635 person days, with 3,150 young people attending a school visit at Bore Place. Other key highlights included:

None of these achievements would have been possible without the dedication of our staff and volunteers at Bore Place. I would like to extend my sincere thanks to each and every one of them. I am also deeply grateful to those who supported us over the past year, whether through donations or by generously giving their time. My thanks go especially to Children in Need, DEFRA, the Ernest Cook Trust, the Heritage Lottery Fund, Kent Downs Area of Outstanding Natural Beauty, Natural England, Farming in Protected Landscapes, Sevenoaks District Council, West Kent Rural Fund, KCF Gatwick Foundation Fund and Kent County Council. And of course, my thanks to our incredibly committed Board of Trustees.

It is a privilege to continue serving as Chair of the Commonwork Trust. We are fortunate to have an engaged and committed team dedicated to our mission and an organisation that strives every day to connect people with nature and to ensure a better future for our planet.

Paul Turner - Chair

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Vision

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

Mission

Our mission is to enhance the planet in all that we do, and 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.

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

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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.

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 3

Understand and influence

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.

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Take ownership
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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.

We remain committed to maximising the assets of the Bore Place estate as a model for restorative and regenerative change. Our efforts have continued with the ongoing implementation of regenerative farming practices and nature restoration initiatives. This work includes managing our five meadow areas, planting new hedgerows and orchard trees, planting more herbal leys to improve soil fertility and removing invasive species.

We have also focused on sharing our practices with others by engaging the public, collaborating with like-minded organisations, and establishing a farm

cluster. Through this network of neighbouring farms, we are expanding our species monitoring and creating larger, more effective nature corridors.

Throughout the year, we hosted several bat walks and nature-themed community events and in May 2023, Kent Field Club visited Bore Place to explore our meadows and habitats. We also continued managing five grassland areas to boost wildflower species. We achieved this by cutting back and removing cuttings, grazing meadows with dairy cattle at the appropriate time of year, and allowing the land to rest for the remainder of the year.

Herbal leys on the Bore Place Estate

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PRIORITY 1 Restorative and regenerative change Condition assessments & hedge planting

We have updated our condition assessments of our stream, orchard, grassland areas, woodland and ponds on site. These assessments have informed our management priorities and provided an update on the effectiveness of the measures taken so far.

With the help of SES Water volunteers, our students and corporate volunteer groups, we have also planted around 600 new hedging plants in gaps across the farm's hedgerow network and established a new 170-metre hedgerow. In April 2023, fruit trees were planted in two new areas on site to create orchards, one next to the car park and the other in the courtyard garden.

On the wider farm, laurel removal started in areas of Kilnhouse Wood, and Himalayan balsam has been cleared from the banks of the stream. Both of these invasive species outcompete valuable native species, so it is important to remove them from the estate. In line with our principles, we use mechanical methods of removal rather than herbicides or anything that could harm other plants or species in the area.

We have also undertaken selective removal of trees and vegetation around three ponds on site to reduce shading and allow natural light to reach the water.

Volunteers at Bore Place

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PRIORITY 1 Restorative and regenerative change Understanding and enhancing our biodiversity

Species monitoring

Continuing the work initiated by the Heritage Lottery Fund, Green Recovery Project, and our FiPL project, a survey programme has been established to monitor the six key indicators identified for Bore Place, Bough Beech, and the wider farm cluster. These indicator species serve as an ongoing marker of positive or negative changes in our natural environment, guiding our future decisions on farming, land management and habitat improvements.

As part of the extension of our FiPL work, we have recruited a new Citizen Science and Nature Officer, Jane Whittington, to oversee the conservation volunteers at Bore Place and Bough Beech and lead the citizen science programme across the sites. 2

Soil surveys have been conducted across six indicative fields to update data on soil carbon and organic matter, providing a basis for measuring soil carbon storage over time.

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Decarbonisation and our approach to sustainable living and working

Our site continues to be primarily powered by renewable energy, with heat and hot water supplied via biomass from woodchip, and electricity generated by our photovoltaic installations and wind turbine. Throughout 2023-24, we continued with feasibility assessments to explore pathways for achieving net zero by 2030. With a grant secured from the Rural Community Energy Fund, we have been investigating options to increase onsite electricity generation and storage, managed by our own microgrid.

We remain proactive in managing our site, buildings, venue, holiday lets, educational facilities and events in accordance with our core principles. We ensure that our purchasing decisions and overall impact contribute as much as possible to promoting sustainable living and working. Our commitment to these values is recognised by the Gold Award we received from the English Tourist Board's Green Tourism accreditation scheme.

Bore Place wind turbine

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Regenerative farming through partnership

Bore Place recognises that it cannot achieve its regenerative farming ambitions in isolation; the idea of partnership and collaboration is central to our approach. We have continued to work closely with our partners and their teams co-located at Bore Place, all of whom contribute to our overall success, share our values and support our mission. During this period, we were also delighted to welcome our new partner, Improbable, the world-renowned improvisation company, to the site.

John Waller plays a key role in managing our woodland proactively for wildlife and, through coppicing programmes, produces logs for our wood burners and materials for the Green Wood Workshop where he provides courses for the public. These courses provide the opportunity to learn traditional rural skills including hedge laying, pruning, basket and chair making, willow work, gate hurdles and charcoal making.

We entered year 5 of our 20-year contract 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.

We continue to work with the award-winning Blackwoods Cheese Company which moved onsite in 2017 and uses the milk produced by the farm. Blackwoods continue to be regarded as one of the UK’s finest cheesemakers, selling cheese in the world-renowed Borough Market and in cheese shops and delis across the country. In 2023, Blackwoods began selling Graceburn, their flagship cheese, in M&S stores.

Free Range Glamping provides the opportunity for farm stays and a closer connection to nature. A fifth glamping unit was constructed during the winter of 2023, a Hoppers Hut, based on the traditional accommodation that Kentish hop pickers would have stayed in.

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Our organic Market Garden led by Metske Van der Laan, was particularly affected by the challenges posed by the heavy rain in spring 2023, impacting significantly on its yields. These challenges have led us to work more closely with our Market Garden team to review ways that we can work better together to ensure a sustainable business model is achieved.

Winners of the Producer of the Year at The Stage Awards 2023, Improbable is renowned for its groundbreaking show ‘My Neighbour Totoro’ and its innovative work as an improvisation and theatre company. We aim to transform unused buildings on the Bore Place Estate into a vibrant creative centre that will serve as the new home for the organisation.

Rachna Jhala founded Happy Belly Foods in 2009 after discovering the benefits of kefir from a neighbour in New York City. Using raw milk from the Bore Place herd, Rachna produces a range of fermented dairy products at her workshop near the Bore Place estate. These include a variety of 'gut-friendly' produce such as raw milk kefir, sweet coconut kefir, yoghurt, labneh (a type of cheese) and ghee. Happy Belly produce is available from our Farm Gate and local shops.

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.

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

Throughout 2023-24, we offered a wide variety of opportunities for people of all ages to engage with Bore Place, including school programmes, public programmes for individuals and families and outreach sessions. Our community and education programmes are all designed to inspire, educate and involve, focusing on delivering hands-on experiences to facilitate learning through doing.

One of our key aims in 2023-24 was to deliver a programme allowing us to work more closely with local primary schools, offering multiple visits throughout the year to enable cumulative learning experiences for young people.

We facilitated 10,635 person days

In 2023-24, Bore Place worked with visitors and students of all ages. Interactions included:

School day trips

PRIORITY 2 Inspire, educate and involve School, education and community programmes for people of all abilities

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15
Secondary 105
33 school
Volunteering 2
Wildlife gardeningclub sessions classes 2 sessions Educational
Family support
programme programmes
sessions
83 15
Additional 10
Primary school Outreach
classes needs clubs sessions
476 10
2 College/
Children’s SEN school Uni
holiday club classes 4 Residentials groups
sessions
33
Community
EDUCATION
events
COMMUNITY
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Number of education and community programmes delivered

PRIORITY 2

Inspire, educate and involve - education programmes

School day visits

Our school programmes continued to focus on engaging pupils with nature and the environment. Each pupil participated in a guided farm tour during their visit. Throughout the academic year, students also took part in our citizen science project, including butterfly surveys and worm counts. They contributed to habitat improvement projects such as building dead hedges, creating opportunities to develop teamwork and interaction skills.

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39 primary
schools
9 SEN
schools
9 secondary
schools
3 colleges/
universities
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“The pupils were able to bond well at the start of a new academic year as they completed the range of activities. It was helpful as their form teacher to see how they interacted with each other and how they completed the tasks. There was something for everyone to enjoy and in a beautiful setting. They really enjoyed being able to run free!”

Teacher, Solefield School, September 2023

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School residentials

Our school residential programme continued, with one SEN school residential and three schools benefiting from our partnership with the Ernest Cook Trust’s OWL Collaboration programme. This initiative allows vulnerable and disadvantaged young people to experience an Outdoor Week of Learning (OWL), helping them reconnect with nature. Across four residentials, 73 pupils participated in outdoor activities like orienteering, farm tours, bushcraft, and night walks with bat detectors, enhancing their knowledge of organic and regenerative farming. These activities were designed to inspire interest in nature, develop practical skills, and foster teamwork, including preparing and sharing meals.

During an evening campfire and night walk, a young person shared that they were a little afraid of the dark, having never experienced it in the way they did at Bore Place.

“I didn’t think I could manage without an electronic device...but I can!"

OWL residential student, Broadmead School, February 2024

Following the residentials, all four teachers reported that most students had improved their environmental knowledge and understanding of food origins. The OWL programme successfully engaged young people who usually have limited access to the countryside. Our staff were encouraged by the enthusiasm shown by all participants in embracing new outdoor experiences.

“[Our school staff particularly enjoyed] working alongside the staff and encouraging the children to be outside and experience all that it had to offer including the rain and mud. Many of our children live in flats with balconies and are not all taken to parks or the local river.”

Teacher, Lawn Primary School, February 2024

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School residentials

“Our group all live in built-up areas and to see them being comfortable in nature was great. There was no need to watch TV or to spend time on phones. They were all content just being there.”

Teacher, Marjorie McClure School, July 2023

All teachers also reported that the majority of their class had learnt a new skill during their visit. Many of the young people on the residentials had not stayed away from home before and they developed new life skills.

“Four children washed their own hair and showered for the first time independently. [A highlight was seeing the] delight on their faces when they had achieved other tasks that they had never done before such as lighting a fire, one child was unable to do it but he showed resilience and managed to do in on a second attempt with the whole class supporting him.”

“We have a large outdoor space/pond area and nurture garden we would like to develop and make accessible for all the children across the school. Some of the ideas and activities taught at Bore Place will definitely be used and adapted here at Broadmead.”

Teacher, Broadmead School, February 2024

Teacher, Lawn Primary, February 2024

Surveys showed that the residentials served to inspire the visiting teachers, as well as the children. 3 of the 4 teachers said they would like to offer more outdoor learning experiences for their students as a result of their stay at Bore Place, and the other teacher felt they already offer lots of outdoor learning experiences.

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Programme for local asylum seekers and refugees

In collaboration with two local further education colleges, a project funded by KCF offered day visits to local asylum seekers and refugees. This initiative provided an invaluable opportunity for those with little or no access to outdoor spaces to take part in gardening and nature sessions at Bore Place.

100% 90 of those who attended felt they had learnt a new skill

'I feel I have purpose again and I am so happy outside doing what I do best. This is a place I feel peaceful and I can keep coming back to help remind me of home and makes me feel better.'

DV, English Speakers of Other Languages programme attendee

Many of the participants of this programme had previously worked on farms in their home countries and greatly missed having access to open spaces. The programme welcomed 132 students over 12 visits.

In addition to participating in guided activities, the groups also contributed to larger maintenance tasks and project work around the site through hands-on work experience sessions.

98% of attendees of the 90 programme said their mental health had improved

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Local Schools Partnerships

In addition to one-off school day trips for local schools, we partnered with six local primary schools to deliver multiple visits throughout the academic year 2023-24 for years 4, 5 and 6. This project has been supported by funding from the Big Give Green Match Fund and KCF Gatwick Foundation Fund. 384 primary school children participated, each attending up to six times during the 2023-24 academic year.

Previous experience shows that learning impact is significantly greater across multiple visits compared to one-off trips. We are currently halfway through delivering this project, allowing children to explore the farm and our natural landscapes throughout the seasons. They engage in activities such as nature walks, ecology surveys, cooking with produce from the land and learning about dairy farming.

70% of teachers felt the visits were improving independence in the children attending

90%

of teachers felt that the majority of their class had improved knowledge about environmental issues after 90 visiting Bore Place

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It is important for children and young people to learn about farms because with global warming, agriculture is changing and we need to protect the world. Felix, Year 5; Ide Hill Primary

PRIORITY 2 Inspire, educate and involve - Education programmes Education programmes for children and young people with additional needs

Weekly SEND education programmes

We expanded our weekly programmes, working with six SEND schools and one mainstream school. SEND students participated in outdoor learning to enhance their in-school education. The programmes for mainstream students, identified as disengaged, at risk of non-attendance or struggling with exam pressures, focused on improving well-being, confidence, and self-esteem, and offered students a positive learning experience outside the school environment.

During 2023-24 the team delivered:

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476 SEN
classes
i—]
attendance days
3,908
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The weekly programmes are designed with a practical focus, supporting various aspects of on-site work. Activities range from assisting ecologists with land surveys to planting, managing, and harvesting produce from the garden, which is then used in our kitchens. Participants also engage with nature through creating artwork using natural resources.

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Accredited programmes

The number of students with SEN undertaking alternative learning programmes at Bore Place has increased by 53%, from 74 students (attending 272 weekly visits combined) in 2022-23, to 113 students in the current academic year 202324. We are on track to have delivered 748 weekly visits by the end of this academic year.

Accredited qualifications include the Arts Award and Laser Learning Awards, and we also offered the John Muir Award. In the academic year 2022-23, 100% of students who undertook an accredited programme at Bore Place passed their course.

Learning programmes at Bore Place are centred around outdoor education, and aim to develop an awareness of nature and the natural environment. Additionally, our SEND programmes are designed to provide students with the opportunity to obtain accredited qualifications.

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Arts Award John Muir Award
LASER Award Non-accredited course
120
100
80
60
40
20
0
2022-23 2023-24
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Through our FiPL-funded project, Every Day is Open Farm Sunday, we were able to purchase three new offroad wheelchairs which have enabled students to more easily take part in outdoor activities, whatever the weather.

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Family support and drop-off club

In 2023-24, our team delivered the final two sessions of our BBC Children in Need funded programme, engaging 26 young people and 17 adults. One session was a drop-off for the children, and the final session was a Family Fun Day in July 2023, featuring garden fair games, face painting, crafts, and delicious food prepared by our chef.

“It was a great event to get to meet other families. I think our son especially benefitted from it. Being a young carer he really struggles. For something to be for him also was really beneficial. He often feels like he does not get the attention and everything is generally for his sister.”

Parent, Children In Need Family Day

The Family Fun Day brought together families from this year’s programme and those from last year who had missed a session due to bad weather. This allowed parents to network and create a supportive environment that was hugely valuable for those with children with SEND. We are delighted to have secured further funding from BBC Children in Need to deliver three more year-long programmes from 2024 to 2027.

“Whilst being in the company of other families with similar caring responsibilities and additional needs as a family it has benefitted us knowing we are not alone and others have daily struggles too.”

Parent, Children In Need Family Day

PRIORITY 2

Inspire, educate and involve Welcoming the public

Bore Place is open to the public year-round, reflecting our commitment to offering

opportunities for people to learn about farming and nature, as well as enjoy countryside walks and connect with nature. We aim to make our farm, gardens, and trails accessible to everyone, with clear, easy-to-read signage, information, and guides. We offer free parking and accessible toilets to all visitors.

Our Farm Gate, a welcoming hub for the estate, was further developed in 2023-34 to sell a wide range of Bore Place produce, including cheese from our onsite cheesemaker Blackwoods Cheese Company, as well as ice cream. Produce is available in state-of-the-art vending machines.

Notably, we also secured funding from the West Kent Development Fund to invest in a pasteurisation process and milk vending machine, enabling us to sell our milk directly to visitors - a long-held ambition.

This has meant that visitors can watch the cows being milked, learn about the farming process in our Milking Parlour visitor centre, and then purchase the milk to take home or enjoy on-site.

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12000
10000
8000
6000
4000
2000
0
Apr 23May 23June 23July 23Aug 23Sept 23Oct 23Nov 23Dec 23Jan 24Feb 24Mar 24
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Monthly visitor numbers to Bore Place

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PRIORITY 2 PRIORITY 2 PRIORITY 2 Inspire, educate and involve - Education programmes Inspire, educate and involve Inspire, educate and involve - Education programmes Education programmes for children and young people with additional needsCommunity programme

Our aim is to deliver a diverse community programme. Across the year we held 33 events, utilising our landscapes to engage the local community in topics related to food, farming and nature. These events, including courses, workshops, and family activities, were offered at various price points providing hands-on experiences in our authentic farming environment.

Our community programme included 33 events: 16 for adults, 13 for families, and 4 for children, centred around food, farming, nature, and creativity.

The events covered themes such as guided walks on birds, trees, reptiles, and small mammals; foraging walks; citizen science surveys; astronomy workshops and talks; and family activities. This year, Rachna Jhala from Happy Belly Foods, who uses milk from our dairy herd to create artisan fermented dairy products, ran fermented dairy workshops at Bore Place, teaching participants to make yoghurt, labneh and paneer.

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PRIORITY 2 PRIORITY 2 PRIORITY 2 Inspire, educate and involve - Education programmes Inspire, educate and involve - commun ty programmesInspire, educate and involve - Education programmes Education programmes for children and young people with additional needsCommunity programme

All events in our programme were held at Bore Place, except for a family Apple Day, which celebrated the ancient apple orchards at Bough Beech nature reserve and promoted the purchase of seasonal, locally produced fruits and vegetables.

Most events catered for 20-50 guests, but our Open Day and Carols in the Cowshed were on a larger scale, aimed at reaching more visitors and attracting new ones.

To mark the opening of our new Milking Parlour Visitor Experience and Farm Gate, we hosted a free Food and Farming Open Day for local families, drawing 500-600 guests.

The day featured locally produced food and drink, including items from our site, and offered activities such as meeting the farmer, seeing calves and cows being milked, children’s nature and farming activities, exploring our market garden, and discovering new walking trails. The event showcased regenerative farming in action and highlighted our environmental goals.

We also held our third annual Carols in the Cowshed at Christmas for 176 guests. This year, we enhanced the community feel by collaborating with two local choirs, who led the carols. Visitors appreciated learning about the farm while enjoying a festive afternoon with mulled wine, mince pies, and watching the cows being milked at dusk.

Everything was so well organised and it was such a lovely event. It's particularly good for children to not only be able to sing carols in a relaxed setting, but also find out more about the cows and farming life. We loved the mulled drinks and food and the choir was brilliant! … Overall, it was brilliant. Thank you.

Carols in the Cowshed, Dec 2023

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It was interesting to see the cows being milked and read all about a year of farming and what it entails.

Visitor, Carols in the Cowshed 2023

==> picture [15 x 9] intentionally omitted <==

----- Start of picture text -----
17
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PRIORITY 2 PRIORITY 2 PRIORITY 2 Inspire, educate and involve - Education programmes Inspire, educate and involve - commun ty programmesInspire, educate and involve - Education programmes Education programmes for children and young people with Bioblitz evadditional needsnt

In June 2023, we held our first BioBlitz event, where volunteers aimed to record as many different species as possible within a set time. The event was a fantastic opportunity to engage the community in wildlife conservation, raising awareness of local biodiversity and encouraging active participation. This family-focused event attracted 40 participants (28 adults and 12 children). Species were recorded both during guided walks and through ad-hoc sightings.

Over the 5.5-hour event, 75 species were documented, with one of the most exciting discoveries being a Green Hairstreak butterfly in the meadow behind Bore Place House.

Green Hairstreak Butterfly in the meadow behind Bore Place House

PRIORITY 2 PRIORITY 2 PRIORITY 2 Inspire, educate and involve - Education programmes Inspire, educate and involve - reaching new audiencesInspire, educate and involve - Education programmes Education programmes for children and young people with Preventative healthcare additional needs

Following a successful bid for NHS funding to pilot a preventative care initiative by Sevenoaks Primary Care Network, we collaborated to deliver two programmes for the residents of Sevenoaks.

Social Care Kitchen

Our chef led four evening sessions for families receiving food bank support. Four families participated in the weekly sessions, where they were guided in preparing wholesome and nutritious meals using the food they had received from food bank donations. The aim was to provide the families with a more balanced diet, contributing to improved wellbeing.

Carer Days

60 young carers took part in a variety of activities at Bore Place. These activities enabled young carers to build friendships, try new experiences, and take a break from caring responsibilities. The programme helped them connect with the wider community, creating opportunities for further involvement in other activities and fostering greater independence. Several young carers expressed interest in returning to Bore Place with their families in the future.

The focus of these respite activities was to give young carers a much-needed break from their responsibilities, which is vital for their mental and emotional well-being. The activities allowed them to relax, unwind, and simply have fun. Young carers often face isolation due to their responsibilities, but these sessions allowed them to socialise, form connections with peers, reduce feelings of loneliness, and develop a support network.

“It was exciting because we don’t do stuff like this at home, and I was a bit worried, but it turned out to be awesome” 90

Young carer day delegate, 2023

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PRIORITY 2 Inspire, educate and involve - community programme Volunteering

Our volunteering programmes play a crucial role in engaging a broad audience with our regenerative land management practices. In 2023-34, we held regular outdoor sessions at Bore Place on Mondays and Fridays throughout the year, alongside a programme at nearby Bough Beech Reservoir. This initiative at Bough Beech formed part of our relationship with SES Water which owns the reservoir and is focused on habitat maintenance and conservation, led by Lynne and Pete Flower, who have been volunteering at Bough Beech for over 40 years and possess an exceptional knowledge of the local landscape and its species.

“There is a social aspect of volunteering in meeting like-minded people, but for me the greatest benefit is to get out in the fresh air, get a bit of exercise and enjoy open countryside away from the towns and traffic. I could just join a ramblers’ club, but volunteering gives me a sense of doing something positive for our environment.”

Robert P, Volunteer 2024

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“I have learnt some ways to survey how well the environment is supporting certain species of wildlife and I have learned a little about how 90 partnership working is a solution for long term sustainability.”

Carol, Volunteer, 2024

74% 90 of volunteers surveyed reported that they had increased their skills

All of our volunteering programmes are designed to promote environmentally sustainable land management techniques and to raise awareness of habitat management. Our ultimate aim is to inspire our volunteers to become ambassadors for citizen science.

89% of volunteers said they had enhanced their knowledge about food, farming or nature issues through volunteering

We also continued to engage with a local care home, delivering 10 outreach sessions in 2023-24 linked to the concept of a wildlife gardening club.

said volunteering had inspired them to positively change their behaviour 84% or had led them to consider doing something differently to care for the environment 2090

PRIORITY 2 Inspire, educate and involve Our venue

We have continued to welcome a diverse array of groups to utilise our venue for retreats and workshops. Among the groups staying with us throughout the year were the Agroecology Fund, which focuses on transforming global systems; the Clean Air Fund, a philanthropic initiative addressing global air pollution; the BMW Foundation, which ran its RISE programme at Bore Place; Green Alliance, an independent think tank and charity dedicated to promoting ambitious environmental leadership; and the BBC who brought a writers workshop to create new material.

Our new partner, Improbable, also made the exciting decision to relocate its summer workshops to Bore Place. This move has proven to be a great success, attracting visitors from across the globe who are eager to participate in their engaging and innovative workshops. The new location at Bore Place has provided an inspiring setting that enhances the experience for all involved.

Bore Place House

Many groups visit Bore Place to benefit from its unique environment, which is often described as inspiring fresh perspectives and fostering new ideas.

All staying guests at Bore Place select from a range of Bore Place experiences, offering them the chance to deepen their connection with our story and estate while learning new skills from our team of artisans, practitioners, farmers, and environmentalists - individuals who embody our values and are central to our mission. During this period, we expanded the program to include experiences centred on our nature recovery efforts.

Guided nature walk

34

”We have been bringing our group to Bore Place annually for years. The team there, the location and the "magic" of the place have never failed to create a unique and powerful event. The balance of natural beauty, great food and the reality of a functioning farm are a lovely and unique combination which we've been able to tap into for reflection, connection and fun”

BMW Foundation

The Bore Place estate, with its rich heritage of buildings, is a significant asset to the charity, allowing us to generate income while conveying our mission. However, this also brings the responsibility of maintaining the estate. During this period, we invested in upgrading the bathrooms in Bore Place House, ensuring they are both functional and more water- and energy-efficient. This work required an 8- week closure of the property, but it resulted in a significantly enhanced asset.

“This was our second visit to the wonderful Bore Place, it gets better every time! We are an inner-London youth group supporting young people with disabilities. The staff team were amazingly supportive and on hand to answer any queries. We went on a night walk and had a willow workshop delivered by the amazing John Waller - we even took a bundle back to South London to see if we can build our skills. Thanks, Bore Place we will be back!”

Catherine Keevil, Disability Coordinator – Wandsworth Council

PRIORITY 3

Understand and influence

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.

Growing our networks

We continue to welcome a wide range of guests and visitors to our estate to share our regenerative journey. We were delighted to welcome Rebecca Pow, Minister for Nature, in January 2024 to discuss and showcase the projects that had been funded by DEFRA’s Farming In Protected Landscapes Fund. She was particularly interested in our work connecting local farms to work together to improve biodiversity, through our farm cluster.

Kent Food Partnership

Bore Place continues to participate in the steering group of the newly formed Kent Food Partnership. This initiative, chaired by Anna

In June 2023, we were excited to receive the Kent Farmer of the Year award from the Taste of Kent Awards. The selection process recognised our commitment to innovation, environmental

sustainability, responsible management, community involvement, and strong relationships with our supply chain.

Taylor of the Food Foundation, was created to foster a diverse and inclusive environment across Kent, where all residents and visitors can access, learn about, and cook healthy, affordable food that is sustainably grown, produced, processed, distributed, sold, and served. The partnership aims to boost the local economy, improve public health, and strengthen community ties while protecting the environment. In addition to our role on the steering group, Bore Place chairs the Good Food Movement subgroup, which focuses on raising public awareness, promoting active food citizenship, and building a local good food movement.

36

New Farm Cluster

A key focus for us is to influence others by sharing our regenerative farming practice. The Eden Farm Cluster was formed to develop better relationships with our neighbouring farms and to agree on shared environmental goals. Two meetings were held at Bore Place in March and May 2023, attended by local farmers.

The cluster has also benefited from our growing relationship with SES Water. Their Estates Manager, Water Catchment Manager, and Sustainability Manager are now integral members of the team working with Bore Place on initiatives spanning Bore Place, Bough Beech, and the wider catchment area.

Following these meetings, a farmer “steering group” was established to guide cluster activities, with a lead farm selected to assist in decisions such as the appointment of a facilitator role. This role, funded by the South East Rivers Trust, Bore Place and SES Water, was recruited in February 2023, starting in April 2024.

Groundswell 2023

In June, three team members from Bore Place and Commonwork Organic Farm attended Groundswell 2023 to present the progress of our regenerative journey and the FiPL project at Bore Place. The event also provided a fantastic opportunity for the team to connect with like-minded farmers.

37

Other collaborations

Throughout this period, we also collaborated with a wide range of organisations and businesses including the NHS, Kent Green Social Prescribing Network, Kent Downs National Landscape, Environment Agency, Mental Health and Children Support services (West Kent Mind, Bromley Y), universities (UCL and Queen Mary), Sustainable Food Trust and the Harmony Project to share our lived experience and knowledge generated through our work.

This year, our continued collaboration with the Ernest Cook Trust, enabled us to provide Forest School training for two staff members as well as support an internship placement at Bore Place, in addition to funding us to run week-long residential programmes for three schools with high numbers of pupils eligible for Pupil Premium or free school meals.

New collaborations throughout this period included a partnership with FarmBuddies, which saw us host our first regional Social Care Farm Network Day, bringing together 28 individuals from social care farms across the Southeast to offer support, advice and guidance on social care farming.

A new partnership with Bertha Earth, a youth-centred environmental organisation, enabled us to launch a programme of nature-connected day visits, residential stays and teacher retreats for inner-city London schools, providing opportunities for 11–13 year-olds to engage with environmental education beyond the classroom. We plan to develop this partnership to include more day visits and residentials for the 2024–2025 academic year.

Sharing our learning

Sharing our regenerative farming practices is a key element of our strategy to Understand and Influence. Our Farm Manager conducts tours year-round for visiting groups and guests, showcasing our soil improvement techniques, dedication to organic principles, and the challenges posed by a changing climate. These tours are complemented by our Milking Parlour visitor centre, which remains open throughout the year.

Farm Tours 2023-24 96

Farm Tour visitors 2023-24 3,442

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PRIORITY 3

Understand and influence Measuring our impact

The Trust has continued to work with the Centre for Education and Youth (CfEY) to receive training and support to develop a robust evaluation framework to report on the impact of our work.

Our impact evaluation work draws on survey data from community event participants, school teachers and service users, combining both quantitative and qualitative data, as well as quotes from informal individual and, where possible, group semi-structured interviews.

CfEY was originally commissioned to help create appropriate tools to measure impact, identify suitable data gathering methods, and develop a system for data analysis and presentation.

Long-term goals

ENVIRONMENTAL NATURE SHARING WELLBEING REGENERATION CONNECTEDNESS PRACTICE

39

Developing our people

We recognise that the success of the Trust depends on an outstanding team of staff, volunteers, sessional workers, and partners. At the end of the financial year, our core Trust staff team comprised 18 full-time equivalents (FTE).

The People Working Group is central to our operations, including members of the Senior Leadership Team and a broad representation from across the organisation. This group meets quarterly to lead on people strategy and review our regular staff surveys.

Our People Strategy, published in November 2022, prioritises the following areas:

40

Strengthening our board

The board has been recruited to ensure we have the right experience and expertise to deliver on our charitable objectives and fulfil our legal responsibilities. The board includes expertise in finance, business development, farming, safeguarding, education, the arts, law, people, ecology, the environment and social justice. Trustees are recruited via an open process involving national advertisements and the engagement of trustees and the CEO. All trustees complete an induction programme.

The full board met four times over the year. The board was supported by the Finance, Risk and Audit Committee, the People Committee and the newly formed Estates Committee which met for the first time in November 2023. Each sub-committee met quarterly involving three lead trustees and two members of the Senior Leadership Team.

Strengthening our senior management and staff team

Following Caroline Arnold's resignation after leading the organisation since 2016, Dr Anna Bullen was appointed as the new CEO in December 2023, with her tenure commencing in April 2024. Anna joins us from the Centre for Alternative Technology, where she led a research lab.

The Senior Management Team comprises the CEO and three Directors, responsible for Venue and Marketing, Finance, and Education and Community.

A great place to work

At Bore Place, we actively promote a vibrant workplace culture by hosting regular staff events, activities, and monthly all-staff breakfasts and briefings. As a Real Living Wage Employer, we offer comprehensive benefits including life assurance, an employee assistance program, learning and development opportunities, and flexible working arrangements to support a healthy work-life balance. Our Staff Working Group is key in implementing our People Plan, empowering team members to shape our organisation.

41

Our finances

Financial sustainability

The Trust has a wide range of income streams which it works to grow year on year. Maintaining a diverse funding stream ensures financial sustainability.

Our income streams include:

During 2023-24 we benefited from substantial grants to support our education and community programme delivery, as well as to support our plans for Year 2 of our Strategic Plan.

Our financial reporting

During the year, the Trust generated £1.38m (2023: £1.74m) and incurred £1.71m in expenditure (2023: £1.78m), generating a small operating deficit of £339K (2023: deficit £173K (as restated)). After taking into account £1.12m of net investment gains, the Trust returned a surplus of £776K (2023: £193K (as restated)). A majority of the income (£1.02m) was generated from the Trust’s charitable activities of providing education, running a venue and delivering its environmental agenda.

The Trust’s total funds on 31 March 2024 amounted to £14,619,611 (2023: £13,841,049 (as restated)). Although the Trust has large reserves, a substantial proportion (£14,758,686) of these funds consist of fixed assets (2023: £13,695,799 (as restated)).

The trustees have chosen to assign the land and buildings (2023: £13,262,601) to a designated land and buildings fund. The trustees consider its expendable reserves to be its net current assets and readily realisable investments amounting to £377,039 (2023: £778,049 (as restated)). The Trustees have satisfied themselves that the expendable reserves are adequate to cover 3 months’ running costs plus provision for any advanced income monies held (estimated total £592,000 Sept 2024). There is no additional designated expenditure attributable to the unrestricted reserves. There were no restricted funds attributable to a future year.

43

Investment powers and policy

The trustees have unrestricted powers of investment. The policy of the trustees regarding the Trust’s investments is to achieve capital growth in the investments held in stock market securities in companies meeting accepted ethical standards. The policy enables our third-party investment managers to identify and avoid companies that have any obvious conflicts of interest between the issues concerning us and the objectives or activities of any company whose shares may be acquired for the purpose of investment. For example, investment in companies that engage in the exploration or production of fossil fuels or make use of hardwoods from non-renewable sources would be avoided. Conversely, positive screening is used too - for example investing in companies that manufacture or develop energy systems not reliant on fossil fuels or demonstrate good corporate social responsibility.

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

Risk is managed via a Risk Register which is reviewed quarterly by the Management Team and the Finance, Risk and Audit Committee to ensure that all risks are managed and mitigated proactively. The Risk Register is also reviewed by the Board of Trustees twice a year.

Designated staff lead on Health and Safety and Safeguarding supported by external professional advisors who complete annual audits of both.

44

Our Statement of Accounts 1 April 2023 - 31 March 2024

Nature & People Together

COMMONWORK TRUST (A Company Limited by Guarantee)

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Trustees (who are also directors of Commonwork Trust for the purposes of company law) are responsible for preparing the Trustees' 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. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and the 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:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company and the group's transactions and 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:

This report was approved by the Trustees, on 11 December 2024 and signed on their behalf by:

gS e ‘4 - ………………………………………… P Turner

Chair

46

COMMONWORK TRUST (A Company Limited by Guarantee)

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF COMMONWORK TRUST

Opinion

We have audited the financial statements of Commonwork Trust (the 'parent charity') and its subsidiaries (the 'group') for the year ended 31 March 2024 which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash flows and notes to the financial statements, including 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:

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 group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 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 or parent 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 other information comprises the information in the annual report other than the financial statements and our auditor’s report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 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 course of 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 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.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

47

COMMONWORK TRUST (A Company Limited by Guarantee)

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF COMMONWORK TRUST

Matters on which we are required to report by exception

In the light of our 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 Trustees' Report including the Group Strategic 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:

Responsibilities of trustees

As explained more fully in the Trustees' Responsibilities Statement, 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 the 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.

Auditors' 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 an Auditors' 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.

A further description of our responsibilities is available on the Financial Reporting Council’s website at https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors' report.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

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COMMONWORK TRUST (A Company Limited by Guarantee)

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF COMMONWORK TRUST

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Other matter

Your attention is drawn to the fact that the charity has prepared financial statements 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)" (as amended) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

This has been done in order for the financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2016.

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 its members, as a body, for our audit work, for this report, or for the opinions we have formed.

4 32%

Michelle Wilkes FCA (Senior Statutory Auditor)

for and on behalf of Azets Audit Services Statutory Auditor 1[st] Floor River House 1 Maidstone Road Sidcup Kent DA14 5RH

Date: 16 December 2024

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(A Company Limited by Guarantee)

COMMONWORK TRUST

Consolidated Statement of Financial Activities (Incorporating Income and Expenditure Account)

For the year ended 31 March 2024

Notes
Income from:
Donations
3
Charitable activities
4
Trading activities
5
Investments
6
Total income
Expenditure on:
Raising funds
7
Trading activities - farm
Charitable activities
8
Total expenditure
Net expenditure before
gains/(losses) on investments
Net gains/(losses) on investments
14
Net income/(expenditure)
Transfers between funds
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
2024
£
8,051
782,442
333,636
17,423
1,141,552
18,440
271,424
1,170,000
1,459,864
(318,312)
1,117,671
799,359
-
799,359
13,820,252
14,619,611		 Restricted
funds
2024
£
-
238,708
-
-
238,708
-
-
259,505
259,505
(20,797)
-
(20,797)
-
(20,797)
20,797
-		 Total
funds
2024
£
8,051
1,021,150
333,636
17,423
1,380,260
18,440
271,424
1,429,505
1,719,369
(339,109)
1,117,671
778,562
-
778,562
13,841,049
14,619,611		 As restated
Total
funds
2023
£
11,664
1,316,929
403,889
8,593
1,741,075
23,318
217,838
1,673,389
1,914,545
(173,470)
(19,085)
(192,555)
-
(192,555)
14,033,604
13,841,049

All transactions are derived from continuing activities.

50

(A Company Limited by Guarantee)

COMMONWORK TRUST

Consolidated Statement of Financial Activities (Incorporating Income and Expenditure Account)

For the year ended 31 March 2023

COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES

Notes
Income from:
Donations and legacies
3
Charitable activities
4
Trading activites
5
Investments
6
Total income
Expenditure on:
Raising funds
7
Trading activities - farm
Charitable activities
8
Total expenditure
Net expenditure before
gains/(losses) on investments
Net gains/(losses) on investments
14
Net income/(expenditure)
Transfers between funds
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
2023
£
11,664
772,860
403,889
8,593
1,197,006
17,861
217,838
1,155,574
1,391,273
(194,267)
(19,085)
(213,352)
-
(213,352)
14,033,604
13,820,252		 Restricted
funds
2023
£
-
544,069
-
-
544,069
5,457
-
517,815
523,272
20,797
-
20,797
-
20,797
-
20,797		 As restated
Total
funds
2023
£
11,664
1,316,929
403,889
8,593
1,741,075
23,318
217,838
1,673,389
1,914,545
(173,470)
(19,085)
(192,555)
-
(192,555)
14,033,604
13,841,049

All transactions are derived from continuing activities.

51

COMMONWORK TRUST

(A Company Limited by Guarantee)

CONSOLIDATED BALANCE SHEET For the year ended 31 March 2024

As restated
2024 2024 2023 2023
Note £ £ £ £
Fixed assets
Tangible assets 15 11,390,757 11,467,394
Investment property 16 3,367,929 2,228,405
Investments 17 389,315 451,544
Current assets 15,148,001 14,147,343
Debtors 18 183,538 276,552
Cash at bank and in hand 535,872 740,283
Creditors:amounts falling due
within one year		 19 719,410
(731,686)		 1,016,835
(690,330)
Net current (liabilities)/assets (12,276) 326,505
Creditors:amounts falling due
within one year		 20 (290,837) (458,870)
Provisions for liabilities 22 (225,277) (173,929)
Net assets 14,619,611 13,841,049
Charity Funds
Restricted funds 23 - 20,797
Unrestricted funds
Designated funds 24 13,262,601 12,343,541
General unrestricted funds 1,088,505 1,183,966
Non-charitable funds 268,505 292,745
Total funds 14,619,611 13,841,049

The financial statements were approved and authorised for issue by the Trustees on 11 December 2024 and signed on their behalf, by:

P Turner Chair

The notes on pages 55 to 72 form part of these financial statements.

52

COMMONWORK TRUST

(A Company Limited by Guarantee)

CHARITY BALANCE SHEET For the year ended 31 March 2024

As restated
2024 2024 2023 2023
Note £ £ £ £
Fixed assets
Tangible assets 15 10,372,501 10,446,278
Investment property 16 3,367,929 2,228,405
Investments 17 477,809 501,388
Current assets 14,218,239
Ee		 13,176,071
Ee
Debtors 18 562,665 702,239
Cash at bank and in hand
Creditors:amounts falling due
within one year
Net current assets		 19 358,194
920,859
(633,432)
a
————		 287,427 410,201
1,112,440
(446,847)
a
————		 665,593
Creditors:amounts falling due
within one year
Net assets		 20 (154,549)
14,351,117
<<		 (293,361)
13,548,303
<<
Charity Funds
Restricted funds 23 - 20,797
Unrestricted funds
Designated funds 24 13,262,601 12,343,541
General unrestricted fund
Total funds		 1,088,516
14,351,117
<<		 1,183,965
13,548,303
<<

The financial statements were approved and authorised for issue by the Trustees on 11 December 2024 and signed on their behalf, by:

P Turner

Chair

The notes on pages 55 to 72 form part of these financial statements.

53

COMMONWORK TRUST

(A Company Limited by Guarantee)

CONSOLIDATED STATEMENT OF CASH FLOWS

For the year ended 31 March 2024

Notes
2024
£
Cash flows from operating activities
Cash generated from operations
28
Interest paid
Income taxes paid
Net cash provided by operating activities
Cash flows from investing activities:
Proceeds from disposal of tangible fixed assets
81,596
Purchase of tangible fixed assets
(262,796)
Proceeds from disposal of fixed asset investments
43,233
Investment income
17,423
Dividends received
-
Net cash used in investing activities
Cash flows from financing activities:
Repayments of borrowings
(170,978)
Net cash used in financing activities
Change in cash and cash equivalents in the period
Cash and cash equivalents brought forward
Cash and cash equivalents carried forward		 2024
£
157,921
(19,462)
(51,348)
87,111
(120,544)
(170,978)
(204,411)
740,283
535,872		 2023
£
6,894
(42,832)
-
2,113
2,980
(108,300)		 As restated
2023
£
173,498
(24,403)
(44,972)
104,123
(30,845)
(108,300)
(35,022)
775,305
740,283

The notes on pages 55 to 72 form part of these financial statements.

54

COMMONWORK TRUST (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024

1. Accounting Policies

Company Information

Commonwork Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is Bore Place, Chiddingstone, Edenbridge, Kent, TN8 7AR..

1.1 Basis of preparation of financial statements

The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Commonwork Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity and its trading subsidiary have adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Company status

The company is a company limited by guarantee. The members of the company are the Trustees named on page 4. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.

1.4 Basis of consolidation

The consolidated group financial statements consist of the financial statements of Commonwork Trust together with the entity controlled by the Trust (its subsidiary). All financial statements are made up to 31 March 2024. Where necessary, adjustments are made to the financial statements of the subsidiary to bring the accounting policies in line with those used by the holding Trust.

All intra-group transactions, balanced and unrealised gains on transactions between the group are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

The company has taken advantage of the exemption contained within section 408 of the Companies Act 2006 not to present its own Income and Expenditure Account.

1.5 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

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.

1.6 Income

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

55

COMMONWORK TRUST (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024

1. Accounting Policies

Income received in advance of the provision of a service and grant income 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.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is now known, the legacy is treated as a contingent asset.

Interest on funds held on deposit and investment income is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank.

1.6 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.

Expenditure on charitable, fund-raising and publicity costs comprise these 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 compliance with statutory requirements, strategic management and Trustees’ meeting.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure is incurred.

1.7 Tangible fixed assets and depreciation

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land is not depreciated Freehold building & building works 2% to 10% Straight line Motor vehicles 10% Straight line Farm buildings 2.5 to 5% Straight line Fixtures & Fittings 2.5 to 33% Straight line Computers, plant and equipment 10 to 33% Straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

Tangible fixed assets with acquisition costs below £500 are not capitalized and are expensed out in the year of purchase.

1.8 Impairment of Fixed Assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

56

COMMONWORK TRUST (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024

1. Accounting Policies

1.9 Investments

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the income and expenditure account.

1.10 Fixed asset investments

Listed fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred. A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.11 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.12 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.13 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at - the pre tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

1.14 Financial instruments

The company 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.

1.15 Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.16 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.17 Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.18 Prior year adjustment

No depreciation had been charged in respect of the Freehold Buildings since the year ended 31 March 2021. In order to comply with FRS 102 and the charity’s accounting policy for depreciation, a prior year adjustment has been made to correct the net book value of the charity’s Freehold Property.

57

COMMONWORK TRUST (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024

2. Critical accounting estimates and judgements

In the application of the company’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Going concern

As indicated in note 1.2 it is the trustees’ assessment that the group continues to be a going concern. Accordingly, assets and liabilities have been valued on the basis that the group will continue in operation. If this presumption proved to be mistaken the carrying value of assets and liabilities would need to be reappraised to reflect the impact of cessation.

Assessing indicators of impairment

In assessing whether there have been any indicators of impairment of assets, the trustees have considered both external and internal sources of information such as market conditions, counterparty credit ratings and experience of recoverability. There have been no indicators of impairments identified during the current financial year.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Valuation of investment properties

The valuation of investment properties is based on the most recent professional valuation obtained by the Trustees, dated October 2024. The change in value, apart from any additions at cost, is estimated by adjusting the value each year by the percentage change in the professional valuations of these properties.

Residual value of fixed assets

The group depreciates tangible assets (excluding land) over their estimated useful lives, and this annual depreciation charge is sensitive to changes in the estimated useful economic lives and residual values of the assets. The estimation of the useful lives of assets is based on historic performance as well as expectations about future use and therefore requires estimates and assumptions to be applied by management. The actual lives of these assets can vary depending on a variety of factors, including technological innovation, product life cycles and maintenance programmes.

Judgement is applied by management when determining the residual values for tangible fixed assets. When determining the residual value management aim to assess the amount that the group would currently obtain for the disposal of the asset, if it were already of the condition expected at the end of its useful economic life. Where possible this is done with reference to external market prices.

58

COMMONWORK TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024

==> picture [480 x 552] intentionally omitted <==

----- Start of picture text -----
3. Income from donations
2024 2023
£ £
Donations 8,051 11,664
8,051 11,664
4. Income from charitable activities
Unrestricted Restricted Total Total
2024 2024 2024 2023
£ £ £ £
Centre income 614,457 - 614,457 638,503
Fees 161,297 - 161,297 130,598
Grants - 238,708 238,708 544,069
Other income 6,688 - 6,688 3,759
782,442 238,708 1,021,150 1,316,929
5. Income from trading activities
2024 2023
£ £
Power supply 19,283 16,255
Trading subsidiary (see note 17) 314,353 387,634
333,636 403,889
6. Income from investments
2024 2023
£ £
Rents received - 3,500
Dividends 6,054 2,980
Interest 11,369 2,113
17,423 8,593
7. Expenditure on fundraising
2024 2023
£ £
Website costs 11,013 18,567
Fundraising 7,427 4,751
18,440 23,318
----- End of picture text -----

59

(A Company Limited by Guarantee)

COMMONWORK TRUST

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024

8.
Expenditure on charitable activities
Staff
costs
Direct
costs
Support
costs
£
£
£
Direct costs
Bore Place activities
773,290
452,307
203,908
9.
Support costs
Premises costs
Printing, postage and stationery
Travel & subsistnece
Telecommunications
Sundries
Computer costs
Staff costs
Cleaning. Repair and maintenance
Bank charges
Loan interest
Governance
10.
Governance costs comprise:
Audit fees
Accountancy fees
Trustee expenses
11.
Trustees' remuneration and benefits
There were no trustees' remuneration or other benefits for the year ended 31 March 2024
Trustees' expenses		 Total
2024
£
1,429,505
2024
£
17,386
1,994
2,393
4,266
15,821
26,361
25,964
61,349
1,046
19,462
27,866
203,908
25,830
1,850
186
27,866
(2023: nil).
2024
£
186		 Total
2023
£
1,673,389
2023
£
44,240
2,161
6,128
4,728
7,044
14,203
10,513
83,124
509
24,403
45,400
242,453
13,540
6,948
297
20,785
2023
£
351

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

60

(A Company Limited by Guarantee)

COMMONWORK TRUST

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024

==> picture [466 x 573] intentionally omitted <==

----- Start of picture text -----
12. Staff costs 2024 2023
£ £
Staff costs were as follows:
Wages and salaries 698,022 634,858
Social security costs 52,588 47,042
Other pension costs 22,680 21,492
773,290 703,392
The average number of persons employed by the company during the period was as follows:
No. No.
Total staff 34 31
The number of employees whose emoluments as defined for taxation purposes, amounted to over £60,000 in the
year were as follows:
No. No.
£70,000 to £79,999 1 1
During the year Key Management Personnel received remunerations (including employer pension ontributions and
employer National Insurance contributions) of £246,045 (2023: £225,505) and benefits of £nil (2023: £nil).
13. Net income/(expenditure) 2024 2023
£ £
This is stated after charging:
Auditors' remuneration ‑ audit 25,830 13,540
Auditors' remuneration ‑ other services 1,850 6,948
Movement in deferred tax 51,348 44,972
Net (gains)/losses on investments (1,117,671) (20,897)
Depreciation of tangible fixed assets:
‑
owned by the charitable group 250,254 127,520
(Profit)/loss on disposal of fixed assets (4,500) 12,535
14. Net gains/(losses) on investments 2024 2023
£ £
Net gains/(losses) on investment properties (note 16) 1,139,524 -
Net gains/(losses) on fixed asset investments (note 17) (21,853) (18,395)
Other net gains/(losses) - (2,502)
1,117,671 (20,897)
----- End of picture text -----

61

(A Company Limited by Guarantee)

COMMONWORK TRUST

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2024

15. Tangible fixed assets

Group
Cost
At 1 April 2023 (as restated)
Additions
Disposals
At 31 March 2024
Depreciation
At 1 April 2023 (as restated)
Charge for the year
Elimination on disposal
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023		 Freehold Land
and buildings
£
10,867,776
17,190
(10)
10,884,956
1,254,768
139,852
-
1,394,620
9,490,336
9,613,008		 Bore Place
Improvements
£
614,367
-
(6,250)
608,117
59,611
29,277
(417)
88,471
519,646
554,756		 Plant,
Equiment,
Fixtures &
Fittings
£
936,205
208,769
(98,681)
1,046,293
336,897
48,187
(15,345)
369,739
676,554
599,308		 Farm
Buildings
£
874,714
36,837
-
911,551
203,728
27,615
-
231,343
680,208
670,986		 Motor Vehicles
£
53,234
-

-
53,234
23,898
5,323

-
29,221
24,013
29,336		 Total
£
13,346,296

262,796
(104,941)
13,504,151
1,878,902
250,254
(15,762)
2,113,394
11,390,757
11,467,394

62

COMMONWORK TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024

15. Tangible fixed assets - continued

Charity
Cost
At 1 April 2023 (as restated)
Additions
Disposals
At 31 March 2024
Depreciation
At 1 April 2023 (as restated)
Charge for the year
Elimination on disposal
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023		 Freehold Land
and buildings
£
10,546,651
-
-
10,546,651
1,037,749
133,876
-
1,171,625
9,375,026
9,508,902		 Bore Place
Improvements
£
614,367

-
(6,250)
608,117
59,611
29,277
(417)
88,471
519,646
554,756		 Plant,
Equiment,
Fixtures &
Fittings
£
639,885
145,524
(7,835)
777,574
286,601
38,752
(1,595)
323,758
453,816
353,284		 Motor Vehicles
£
53,234
-
-
53,234
23,898
5,323
-
29,221
24,013
29,336		 Total
£
11,854,137

145,524

(14,085)
11,985,576
1,407,859
207,228

(2,012)
1,613,075
10,372,501
10,446,278

The cost of freehold property includes freehold land of £3,852,864 (2023: £3,852,864) which is not depreciated.

63

COMMONWORK TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024

16. Investment Property - Group and charity

Fair value
At 1 April 2023
Revaluation in year
At 31 March 2024		 £
2,228,405
1,139,524
3,367,929

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.

The trustees have confirmed that their estimate of market value of the investment properties at 31 March 2024 was £3,504,902 based on a professional revaluation from Savills in October 2024.

17.
Fixed asset investments
Group
Market value
At 1 April 2023
Additions
Disposals
Net gains/(losses)
At 31 March 2024
Charity
Market value
At 1 April 2023
Additions
Disposals
Net gains/(losses)
At 31 March 2024
Historic cost
COIF fund
UK government bonds
Overseas bonds
UK bonds
UK equity
Overseas equity
Diversified equity
Investments at market value comprise:
Cash held with investment managers		 Shares in
group
undertakings
£
150,000
-
-
-
150,000
232,719		 Listed
investments
£
451,544
186,369
(226,745)
(21,853)
389,315
Listed
investments
£
351,388
186,369
(224,681)
14,733
327,809
274,534		 2024
£
451,544
186,369
(226,745)
(21,853)
389,315
2024
£
501,388
186,369
(224,681)
14,733
477,809
507,253
5,995
-
54,645
30,185
19,350
155,298
108,307
15,539
389,319		 As restated
2023
£
468,127
-
-
(16,583)
451,544
2023
£
519,779
-
-
(18,391)
501,388
484,712
28,814

40,220
11,967
5,868
19,849
173,210
118,855
52,765
451,548

64

(A Company Limited by Guarantee)

COMMONWORK TRUST

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024

17. Fixed asset investments - continued

Investments at market value in excess of 5% of valuation:

==> picture [460 x 60] intentionally omitted <==

----- Start of picture text -----
|||| |---|---|---| |2024|2023| |£|£| |Genus plc|61,510|100,160| |COIF Charities Fixed Interest Fund Income Units|-|40,220| |ishares II plc Physical Gold ETC|21,168|23,666|

----- End of picture text -----

Subsidiary undertaking

The investments at the balance sheet date in the share capital of other companies include the following:

==> picture [373 x 47] intentionally omitted <==

----- Start of picture text -----
||| |---|---| |Subsidiary name:|Commonwork Organic Farms Limited| |Country of incorporation|England and Wales| |Equity shareholding %|100%| |Nature of business: Dairy farming|

----- End of picture text -----

The trading results of Commonwork Organis Farms Limited for the year ended 31 March 2024 are as follows:

==> picture [460 x 356] intentionally omitted <==

----- Start of picture text -----
|||| |---|---|---| |As restated| |2024|2023| |£|£| |Turnover|277,545|330,702| |Cost of sales|(226,585)|(167,806)| |Gross profit|50,960|162,896| |Administration expenses|(106,332)|(70,134)| |Other operating income|56,625|67,690| |Operating profit for the year|1,253|160,452| |Interest receivable|1,115|1,383| |Interest payable|(13,360)|(6,997)| |Net gains on investments|(36,586)|1,812| |Profit before tax|(47,578)|156,650| |Tax on profit|23,338|(44,972)| |Profit for the financial year|(24,240)|111,678| |The assets and liabilities of the subsidiary were:| |Tangible fixed assets|1,018,262|1,021,116| |Investments|61,510|100,160| |Current assets|280,146|450,131| |Current liabilites|(98,253)|(789,224)| |Long-term liabilities|(617,883)|(165,509)| |Provisions for liabilities|(225,277)|(173,929)| |418,505|442,745| |Called up share capital|150,000|150,000| |Profit and loss reserves|268,505|292,745| |418,505|442,745|

----- End of picture text -----

65

COMMONWORK TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2024

18.
Debtors
Debtors falling due within one year
Trade debtors

Other debtors

VAT

Amounts owed by group undertakings

Prepayments
 Group
Charity
2024
2024
£
£
27,026
4,925
113,231
72,795
5,881
-
-
-
37,400
3,350		 Group
Charity
2023
2023
£
£
69,195
8,323
199,590
147,177
6,766
-
-
545,738
1,001
1,001

Debtors falling due after more than one year
Amounts owed by group undertakings
 183,538
81,070
- 481,595		 276,552
702,239
-
-
183,538
562,665		 276,552
702,239
19.
Creditors: Amounts falling due within one year
Bank loans and overdrafts

Other loans

Payments on account

Trade creditors

Social security

Other creditors & VAT

Accruals

Deferred income (note 21)

The amount due from the wholly owned subsidiary is due for repayment
financial statements, a new loan agreement is being formalised.		 Group
Charity
2024
2024
£
£
72,495
44,082
20,646
10,650
211,000
211,000
75,236
52,841
29,314
29,314
35,184
22,408
65,845
41,171
221,966
221,966
in more than one year. At the		 Group
Charity
2023
2023
£
£
76,041
51,052
20,045
10,648
155,703
147,634
143,220
15,536
12,517
12,519
91,854
18,508
25,580
25,580
165,370
165,370
time of approving these
731,686
633,432		 690,330
446,847
20.
Creditors: Amounts falling due after one year
Bank loans
Other loans		 Group
Charity
2024
2024
£
£
239,518
129,544
51,319
25,005		 Group
Charity
2023
2023
£
£
388,569
258,729
70,301
34,632
290,837
154,549		 458,870
293,361

The Group took out a bounceback loan of £50,000 during the pandemic on which repayments were deferred until October 2022, although interest has been charged. No security is required for this loan. The loan will be fully repaid by 31 March 2028.

Analysis of loans
Bank loans
Other loans
Loan maturity
Debt due in one year or less
Due in more than one year but not more than two years
Due in more than two years but not more than 5 years
Due in more than 5 years		 Group
2024
£
312,013
71,965
383,978
93,141
191,020
70,454
29,363
383,978		 Charity
2024
£
173,626
35,655
209,281
54,732
54,732
70,454
29,363
209,281		 Group
2023
£
464,610
90,346
554,956
96,086
210,481
135,177
113,212
554,956		 Charity
2023
£
309,781
45,280
355,061
61,700
61,160
118,989
113,212
355,061

66

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024

COMMONWORK TRUST

20. Creditors: Amounts falling due after one year (continued)

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.

The above loans which carry a fixed/floating intrest rate are repayable in monthly instalments ranging from £2,021 to £2,616 until June 2035.

Following the increase in the Bank of England base rate, these repayments have been increased to various amounts so that the loan is repaid over the same term.

21. Deferred income (Group and charity)

Deferred income at 1 April 2023
Released from previous periods
Deferred in year
Deferred income at 31 March 2024
Provisions for liabilities (Group)
Deferred tax
Farm contract
Movements in provisions:
At 1 April 2023
Movements in the year
At 31 March 2024		 Deferred tax
£
161,615
(23,338)
138,277		 2024
£
165,370
(165,370)
221,966
221,966
2024
£
138,277
87,000
225,277
Farm contract
£
12,314
74,686
87,000		 2023
£
83,630
(83,630)
165,370
165,370
2023
£
161,615
12,314
173,929
Total
£
173,929
51,348
225,277

22. Provisions for liabilities (Group)

These provisions all arise in the trading subsidiary.

67

(A Company Limited by Guarantee)

COMMONWORK TRUST

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024

23. Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Current year
Ernest Cook Trust (ECT) Intern
CiN 23/24 (deferred from 22/23)
Farming in Protected Landscapes (FiPL) -
DEFRA
Wates Charitable Trust
Kent Community Foundation (ESOL)
UK Youth
Big Give
Children in Need (CIN)
ECT Outdoor learning grant 23/24
FiPL 23/24
KCC Short Breaks
KCF Annual Application funding (Howard
Family)
Kent Community Foundation (KCF)
RCEF
UK Youth (Education grant)
LSP - Outreach Wildlife Garden income
into 23/24		 Balance at
1 Apr 23
£
5,000
7,000
6,511
2,286
-
-
-
-
-
-
-
-
-
-
-
-
20,797		 Income
£
-
-
-
-
14,033
21,819
30,000
90,431
19,874
1,500
8,500
41,982
2,875
2,500
3,895
1,299
238,708		 Expenditure
£
(5,000)
(7,000)
(6,511)
(2,286)
(14,033)
(21,819)
(30,000)
(90,431)
(19,874)
(1,500)
(8,500)
(41,982)
(2,875)
(2,500)
(3,895)
(1,299)
(259,505)		 Transfers
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Balance at
31 Mar 24
£

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-
-

Kent Community Foundation (ESOL) - A 12 day programme of outdoor activities to support local refugees who have been housed in local hotels and have minimal or no access to outside place.

Wates Charitable Trust - Funding for laptops to be used to support young people on education programmes.

Farming in Protected Landscapes (FiPL) - DEFRA - Funding to connect people to farming and nature by providing the infrastrastructure, events and opportunities for all to visit and learn at Bore Place 365 days a year.

UK Youth - Grant to fund young people to attend an activity programme at Bore Place.

Big Give - Green Match Fund, You and nature - to create youth environmental champions through visits to Bore Place Children in Need (CIN) - A 3 year project delivering 3 x 1 year-long programmes to 10 families a year (120-150 beneficiaries) ECT Outdoor learning grant 23/24 - provision of residental weeks with activities for vulnerable young people

FiPL 23/24 - this is Farming in protected Landscapes - see above for narrative

KCC Short Breaks - provision of short breaks for disabled children

KCF Annual Application funding (Howard Family) - to develop and manage our education and community programmes to inspire, educate and involve people about regenerative environmental change

Kent Community Foundation (KCF) - same as Howard family funding above

Rural Community Energy Fund - work to help decarbonisation the Bore Place site

UK Youth (Education grant) - see above for narrative

LSP - Outreach Wildlife Garden income into 23/24 - to support mental health and well-being by spending time outdoors and learning about wildlife

Ernest Cook Trust (ECT) Intern - Environmental Engagement - learning from Land Internships CiN 23/24 (deferred from 22/23) - see above

68

(A Company Limited by Guarantee)

COMMONWORK TRUST

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2024

23. Restricted funds - continued

Prior year
KCC Defibrilator
KCF Wi-fi
RCEF - C&P Combined Authority
Ernest Cook Trust
Short breaks
KCC Tunbridge Wells - Early Help
KCC - Young People - Gravesham - Early
Help
KCC - Reconnect locality grant - Family
day on the farm
KCC - Reconnect locality grant - Forest
school
KCC - Reconnect locality grant -
Tunbridge Wells
KCC - Reconnect locality grant -
Sevenoaks
Postcode Local Trust
Kent Community Foundation (ESOL)
Wates Charitable Trust
UK Youth
SDC
y
g
Recovery Challenge Fund
g
p
(
)
DEFRA
Children in Need
KCF Arts Council Jubilee funding
DEFRA Access Grant		 1 Apr 22
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Income
£
1,000
8,000
41,893
40,258
19,874
8,000
12,000
3,000
4,707
4,500
4,500
5,036
5,000
7,000
119,519
169,538
39,425
6,600
32,580
9,000
2,639
544,069		 Expenditure
£
(1,000)
(8,000)
(41,893)
(40,258)
(19,874)
(8,000)
(12,000)
(3,000)
(4,707)
(4,500)
(4,500)
(5,036)
-
-
(119,519)
(163,027)
(39,425)
(6,600)
(32,580)
(6,714)
(2,639)
(523,272)		 Transfers
£
-
-
-
-
-
-
-
-
-
-
-
-

-

-
-
-
-
-
-
-
-
-		 Balance at
31 Mar 23
£

-

-

-

-

-

-

-

-

-

-

-

-
5,000
7,000

-
6,511

-

-

-
2,286

-
20,797

24. Designated funds - charity

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Current year
Finance system
Land and buildings fund		 As restated
Balance at
1 Apr 23
£
10,000
12,333,541
12,343,541		 New
designations
£
-
1,098,463
1,098,463		 Designations
released
£
10,000 )
(
169,403 )
(
(179,403)		 Balance at
31 Mar 24
£
-
13,262,601
-
13,262,601

69

COMMONWORK TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2024

24. Designated funds - charity (continued)

Prior year
21-22 strategic plan
Finance system
Land and buildings fund		 Balance at
1 Apr 22
£
74,754
-
-
74,754		 Income
£
-
10,000
12,333,541
12,343,541		 Expenditure
£
74,754 )
(
-
-
(74,754)		 As restated
Balance at
31 Mar 23
£
-
10,000
12,333,541
12,343,541

Finance system

This fund has been designated by the trustees for the implementation of the new finance system.

Land and buildings

This fund includes funds tied up in Freehold Properties and Bore Place Improvements £9,894,672 and Investment Properties £3,504,902 which have been transferred from unrestricted general funds.

25. Analysis of net assets between funds

Current year
Fixed assets
Current assets/(liabilities)
Long term liabilities
Prior year
Fixed assets
Current assets/(liabilities)
Long term liabilities		 Unrestricted
funds
£
15,148,001
(12,276)
(516,114)
14,619,611
Unrestricted
funds
£
14,047,183
305,708
(632,799)
13,720,092		 Restricted
funds
£
-
-
-
-
Restricted
funds
£
-
20,797
-
20,797		 Total
funds
£

15,148,001
(12,276)
(516,114)
14,619,611
As restated
Total
funds
£

14,047,183
326,505
(632,799)
13,740,889

26. Capital commitments

The total capital commitment as at 31 March 2024 was £24,050 (2023: £10,250).

27. Operating lease commitments

Lessee

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

Within one year
Between two and five years
In over five years		 2024
£
20,000
60,000
110,000
190,000		 2023
£
-
-
-
-

70

COMMONWORK TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024

28. Reconciliation of net expenditure to net cash flow from operating activities

Net income/(expenditure) for the year
Adjustments for:
Depreciation and impairment of tangible fixed assets
Fair value gains and losses on investments
Fair value gains and losses on investment properties
Investment income
Finance costs
Taxation charged
Loss/(profit) from sale of tangible assets
Increase in provisions
Movements in working capital:
Decrease/(increase) in stock
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Increase/(decrease) in deferred income
Cash (absorbed by)/generated from operations
29.
Analysis of change in net funds
Cash at bank and in hand
Loans falling due within one year
Loans falling due after more than one year
Borrowings excluding overdrafts		 Balance at
1 Apr 23
£
740,283
(61,700)
(293,361)
(154,829)
230,393		 2024
£
778,562
250,254
21,853
(1,139,524)
(17,423)
19,462
51,348
(4,500)
51,348
-
93,014
(3,069)
56,596
157,921
Cash flows
(204,411)
6,967
138,812
(19,868)
(78,500)		 As restated
2023
£
(274,581)
261,396
101,112
-
(2,113)
24,403
44,972
12,535
44,972
4,228
(142,651)
21,751
77,474
173,498
Balance at
31 Mar 24
£
535,872
(54,733)
(154,549)
(174,697)
151,893

30. Related Party Transactions

The trustee, WG Waterfield is a director and shareholder in Waterfield & White Limited. Waterfield & White were paid fees of £11,586 (2023: £3,532) for the provision of farm management advice to Commonwork Organic Farms Limited, the trust's trading subsidiary.

The trustee, WG Waterfield is the owner of Fosse Organic. Fosse Organic were paid fees of £7,650 (2023: £nil) for the provision of farm goods to Commonwork Organic Farms Limited, the trust's trading subsidiary.

31. Prior period adjustments

No depreciation had been charged in respect of the Freehold Buildings since the year ended 31 March 2021. In order to comply with FRS 102 and the charity’s accounting policy for depreciation, a prior year adjustment has been made to correct the net book value of the charity’s Freehold Property.

During the year it was discovered that Commonwork Organic Farms Limited had ownership of shares in Genus plc. Under FRS102 1a this listed equity investment should be measured at fair value through the profit and loss account each year. In order to comply with FRS102 1a the directors have brought this investment into the accounts of the company by way of a prior year adjustment.

71

COMMONWORK TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024

31. Prior period adjustments (continued)

Reconciliation of changes in equity
Adjustments to prior year
Funds
Recognition of shares in Genus plc
Historic depreciation on freehold buildings
Total adjustments
Funds as previously reported
Funds as adjusted
Anaylsis of the effect upon funds
Unrestricted funds - designated
Unrestricted funds - non-charitable funds
Total funds
Adjustments to prior year
Depreciation of freehold buildings
Change in market value of investments
Total adjustments
Net movement in funds as previously reported
Net movement in funds as adjusted
Reconciliation of changes in the profit for the previous financial period		 1 April
2022
£
98,348
(267,752)
(169,404)
14,203,008
14,033,604
(267,752)
98,348
(169,404)		 31 March
2023
£
100,160
(401,628)
(301,468)
14,142,517
13,841,049
(401,628)
100,160
(301,468)
2023
£
(133,876)
1,812
(132,064)
(60,491)
(192,555)

72