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2024-03-31-accounts

Charity registration number 1163345

THE GOOD SOIL TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

THE GOOD SOIL TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees J Harper
N S A Morrell
J Reakes-Williams
R Bilson (Appointed 23 November
2023)
T Davenport (Appointed 23 November
2023)
Charity number 1163345
Registered office Top Barn Farm
Worcester Road
Holt Heath
Worcester
WR6 6NH
Independent examiner Kendall Wadley
Granta Lodge
71 Graham Road
Malvern
Worcestershire
WR14 2JS
Bankers Santander UK plc
Bootle
Merseyside
L30 4GB
Solicitors Anthony Collins Solicitors LLP
134 Edmund Street
Birmingham
B3 2ES

THE GOOD SOIL TRUST

CONTENTS

Page
Trustees' report 1 - 3
Statement of Trustees' responsibilities 4
Independent examiner's report 5
Statement of financial activities 6 - 7
Statement of financial position 8
Notes to the financial statements 9 - 21

THE GOOD SOIL TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2024

The Trustees present their annual report and financial statements for the year ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's constitution, the Charities Act 2011 and "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).

Objectives and activities

The objects of the CIO are, for the public benefit:

To advance the Christian faith in accordance with the statement of beliefs in the Constitution; to relieve sickness and financial hardship and to promote and preserve good health; and to advance education and provide recreational activities in the interest of social welfare with a view to improving the conditions of life.

In accordance with these objectives outreach has been to adult individuals facing issues of addiction, homelessness, unemployment, mental health or a combination of these.

Intervention activities have included ongoing land-based therapeutic activity at The Good Soil Project, Top Barn Farm, Worcestershire, and the provision of supported housing.

Public benefit

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.

Achievements and performance

Throughout the year, Good Soil’s two supported houses continued to maintain steady levels of occupancy, with client referrals from third party agencies reflecting the good reputation developed by the Trust, both locally and further afield. Supported accommodation is provided for up to 9 adults with backgrounds in homelessness, addiction, offending or poor mental health. This is complemented by the structured and purposeful activity offered at the Good Soil farm project where clients build work-readiness and engage with staff and volunteers.

In addition to those clients benefitting from Good Soil’s supported housing provision, help has also been given to other vulnerable adults willing to engage with the farm-based programme of activities. This has enabled Good Soil to maintain positive contact with former clients and continue to provide a degree of lower level support where appropriate.

Good Soil has continued to benefit from a team of loyal and enthusiastic volunteers who provide a variety of excellent support throughout the farm growing seasons, as well as year-round maintenance of property and equipment. A number of farm-based open days during the year, together with visits to local churches, have helped Good Soil to develop awareness of its activities, strengthening existing supporter relationships and building new connections.

The Trustees remain extremely grateful for the ongoing commitment of a number of individuals who provide financial support, many of whom have done so for a number of years. In addition to this loyal support, grants were received during the year from The Albert Hunt Trust and Edward Cadbury Trust both of which contributed to the cost of replacing the minibus in July 2024. A further grant was received from Nationwide Building Society Community Fund which is being used towards the costs of developing a more sustainable and financially robust operational model.

For a number of years, Good Soil together with volunteers from the network of Worcester churches has provided a weekly ‘feeding station’ for those in need. However Good Soil’s commitment to facilitating this activity has become increasingly challenging and, as a result, the Trustees decided to discontinue this provision during the year. It is hoped that other local organisations will come together to work towards a more coordinated approach to the challenge of providing food and support to those who are homeless and in need.

THE GOOD SOIL TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Plans for future periods

The Trustees continue to work closely with the management team to ensure the needs of marginalised and vulnerable people are met appropriately. Good Soil continues to ensure that it has sufficient resources to grow its staff and volunteer base in order to achieve this. With the benefit of the grant funding from Nationwide Building Society Community Fund, the Trustees and management team are also exploring ways in which the Good Soil operational model can become more sustainable and financially secure. Research is being undertaken on the feasibility of relocating the farm project; improving existing farm activities / facilities; and exploring ways to develop the Good Soil housing provision so as to improve the transition of clients back into independent living.

Financial review

During the year the net surplus amounted to £73,332 (2023 surplus £15,693), this increased the overall funds of the charity to £188,784 (2023 - £115,452) as at 31 March 2024.

The funds are made up of restricted funds, which has been donated for a specific purpose of £77,280 (2023 - £11,390), designated funds of £32,476 (2023 -£33,301) and unrestricted funds of £79,028 (2023 £70,761).

The charity's free reserves after eliminating fixed assets amounted to £78,589 (2023 £70,126).

Reserves policy

It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised. The Trustees are currently working towards meeting this level of reserves.

Risk management

The Trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The Charity is a charitable incorporated organisation (CIO) governed by a constitution dated 2 February 2015. The charity was registered with the Charity Commission on 28th August 2015, Charity number 1163345.

The Trustees who served during the year and up to the date of signature of the financial statements were: J Harper J S Gillgan (Resigned 27 March 2024) N S A Morrell J Reakes-Williams R Bilson (Appointed 23 November 2023) T Davenport (Appointed 23 November 2023)

THE GOOD SOIL TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Organisational structure

The affairs of the CIO are managed by the charity Trustees. The Trustees meet regularly to review the finances and decide matters of policy. A Operations Director is appointed by the Trustees to run the day-to-day operations. The remuneration of management is set by the Trustees.

Appointment

When new Trustees are appointed, they are provided with the information about the role of Trustees and Charity law. The term of office for a Trustee is two years. Any person retiring as a trustee is eligible for reappointment. Every Trustee must be appointed by a resolution passed at a properly convened meeting of the Trustees.

The CIO constitution makes provision for Charity Trustees to be remunerated in Clause 7.2 & 7.3: (Clause 7.2.3) "Subject to Clause 7.3 a Charity Trustee or connected person may be employed (other than as a Charity Trustee) by the CIO."

All Charity Trustees may receive reimbursement for reasonable and proper expenses incurred in carrying out their duties.

The Trustees' report was approved by the Board of Trustees.

J Harper N S A Morrell Trustee Trustee

22 January 2025

THE GOOD SOIL TRUST

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2024

The Trustees 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).

The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that year.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

THE GOOD SOIL TRUST

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE GOOD SOIL TRUST

I report to the Trustees on my examination of the financial statements of The Good Soil Trust (the Charity) for the year ended 31 March 2024.

Responsibilities and basis of report

As the Trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) 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.

I understand that this has been done in order for 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 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Sarah Morley ACA

Kendall Wadley Granta Lodge 71 Graham Road Malvern Worcestershire WR12 4JS

Dated: 22 January 2025

THE GOOD SOIL TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Current financial year
Unrestricted Unrestricted
Restricted
funds
funds
funds
general
designated
2024
2024
2024
Notes
£
£
£
Income from:
Donations and legacies
3
54,139
-
72,000
Charitable activities
4
120,113
-
-
Investments
5
3,384
-
-
Total income
177,636
-
72,000
Expenditure on:
Raising funds
6
5,346
-
-
Charitable activities
7
163,903
825
6,230
Total expenditure
169,249
825
6,230
Net incoming resources before
transfers
8,387
(825)
65,770
Gross transfers between funds
(120)
-
120
Net movement in funds
8,267
(825)
65,890
Fund balances at 1 April 2023
70,761
33,301
11,390
Fund balances at 31 March 2024
79,028
32,476
77,280		 Total
2024
£
126,139
120,113
3,384
249,636
5,346
170,958
176,304
73,332
-
73,332
115,452
188,784		 Total
2023
£
60,633
105,565
1
166,199
2,792
147,714
150,506
15,693
-
15,693
99,759
115,452

The statement of financial activities includes all gains and losses recognised in the year.

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

THE GOOD SOIL TRUST

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Prior financial year

Unrestricted Unrestricted
Restricted
funds
funds
funds
general
designated
2023
2023
2023
Notes
£
£
£
Income from:
Donations and legacies
3
56,333
-
4,300
Charitable activities
4
105,565
-
-
Investments
5
1
-
-
Total income
161,899
-
4,300
Expenditure on:
Raising funds
6
2,792
-
-
Charitable activities
7
143,957
1,100
2,657
Total expenditure
146,749
1,100
2,657
Net incoming resources before transfers
15,150
(1,100)
1,643
Gross transfers between funds
(29,500)
30,000
(500)
Net income for the year/
Net movement in funds
(14,350)
28,900
1,143
Fund balances at 1 April 2022
85,111
4,401
10,247
Fund balances at 31 March 2023
70,761
33,301
11,390		 Total
2023
£
60,633
105,565
1
166,199
2,792
147,714
150,506
15,693
-
15,693
99,759
115,452

THE GOOD SOIL TRUST

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2024

2024
Notes
£
£
Fixed assets
Property, plant and equipment
12
9,232
Current assets
Trade and other receivables
13
12,372
Cash at bank and in hand
176,438
188,810
Current liabilities
14
(9,258)
Net current assets
179,552
Total assets less current liabilities
188,784
Income funds
Restricted funds
17
77,280
Unrestricted funds-general
Designated funds
32,476
General unrestricted funds
79,028
111,504
188,784
The financial statements were approved by the Trustees on 22 January 2025
J Harper
N S A Morrell
Trustee
Trustee		 2023
£
3,486
116,739
120,225
(17,528)
33,301
70,761		 £
12,755
102,697
115,452
11,390
104,062
115,452

THE GOOD SOIL TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

Charity information

The Good Soil Trust is a Charitable Incorporated Organisation (CIO). The address of the registered office is Top Barn Harvest Shop, Worcester Road, Holt Heath, Worcester, WR6 6NH.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charity's constitution, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 Charity is a Public Benefit Entity as defined by FRS 102.

The Charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

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

The financial statements have been prepared under the historical cost convention, the principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has 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 Charitable funds

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

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

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 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 not known, the legacy is treated as a contingent asset.

THE GOOD SOIL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Property, plant and equipment

Property, plant and equipment 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 the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements 12.5% on cost Computers 20% on cost Motor vehicles 25% on net book value

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.

1.7 Impairment of non-current 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).

1.8 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.

1.9 Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

THE GOOD SOIL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including trade and other payables and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

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.

1.11 Retirement benefits

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

2 Critical accounting estimates and judgements

In the application of the Charity’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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted
Restricted
funds
funds
general
2024
2024
£
£
Donations and gifts
53,755
-
Legacies receivable
384
-
Grants receivable
-
72,000
54,139
72,000		 Total
Unrestricted
Restricted
funds
funds
general
2024
2023
2023
£
£
£
53,755
55,949
-
384
384
-
72,000
-
4,300
126,139
56,333
4,300		 Total
2023
£
55,949
384
4,300
60,633

THE GOOD SOIL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

3
Donations and legacies
Grants receivable for
core activities
Worcester City Council
Worcester Round Table
Charities Trust
Edward Cadbury Trust
Albert Hunt Trust
4
Charitable activities
Charitable rental income
Analysis by fund
Unrestricted funds - general		 -
-
-
-
-
-		 -
-
60,000
5,000
7,000
72,000		 -
-
60,000
5,000
7,000
72,000		 -
-
-
-
-
-
 (Continued)
800
800
1,500
1,500
-
-
-
-
2,000
2,000
4,300
4,300
Housing
Housing
2024
2023
£
£
120,113
105,565
120,113
105,565		 (Continued)
800
800
1,500
1,500
-
-
-
-
2,000
2,000
4,300
4,300
Housing
Housing
2024
2023
£
£
120,113
105,565
120,113
105,565
105,565

5 Income from investments

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Interest receivable 3,384 1

THE GOOD SOIL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

6 Expenditure on raising funds

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Fundraising and publicity
Staff costs 4,656 2,225
Support costs 564 479
5,220 2,704
Trading costs
Other trading activities 126 88
Total costs 5,346 2,792

THE GOOD SOIL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

7 Charitable activities

Staff costs
Farm project
Housing project
Feeding station project
Outreach
Share of support costs (see note 8)
Share of governance costs (see note 8)
Analysis by fund
Unrestricted funds - general
Unrestricted funds - [description]
Restricted funds		 Farm
Housing
Outreach
2024
2024
2024
£
£
£
34,537
58,562
3,121
3,657
-
-
-
53,269
-
-
181
-
-
125
-
38,194
112,137
3,121
8,517
6,970
759
-
1,260
-
46,711
120,367
3,880
41,714
118,309
3,880
825
-
-
4,172
2,058
-
46,711
120,367
3,880		 Total
2024
£
96,220
3,657
53,269
181
125
153,452
16,246
1,260
170,958
163,903
825
6,230
170,958		 Farm
Housing
Outreach
2023
2023
2023
£
£
£
31,436
37,510
2,995
7,960
-
-
-
50,449
-
-
1,127
-
-
180
-
39,396
89,266
2,995
7,866
6,346
645
-
1,200
-
47,262
96,812
3,640
45,705
94,612
3,640
1,100
-
-
457
2,200
-
47,262
96,812
3,640		 Total
2023
£
71,941
7,960
50,449
1,127
180
131,657
14,857
1,200
147,714
143,957
1,100
2,657
147,714

THE GOOD SOIL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

8 Support costs

Depreciation
Staff welfare and training
Office costs
Insurance
Motor vehicle costs
Legal and professional
Other costs
Accountancy
Analysed between
Fundraising
Charitable activities		 Support
costs
Governance
costs
£
£
2,697
-
2,269
-
2,654
-
2,560
-
5,268
-
671
-
691
-
-
1,260
16,810
1,260
564
-
16,246
1,260
16,810
1,260		 2024Support costs Governance
costs
£
£
£
2,697
3,978
-
2,269
520
-
2,654
1,743
-
2,560
2,113
-
5,268
6,198
-
671
576
-
691
208
-
1,260
-
1,200
18,070
15,336
1,200
564
479
-
17,506
14,857
1,200
18,070
15,336
1,200		 2023
£
3,978
520
1,743
2,113
6,198
576
208
1,200
16,536
479
16,057
16,536

Governance costs includes payments to the independent examiners of £1,260 (2023- £1,200) for examination fees.

9 Trustees

During the year one Trustee, N S A Morrell received remuneration amounting to £21,945 (2023 £21,949) for his role as head of Operations with the Charity.

10 Employees

The average monthly number of employees during the year was:

Employment costs
Wages and salaries
Social security costs
Other pension costs		 2024
Number
5
2024
£
95,491
2,642
2,743
100,876		 2023
Number
4
2023
£
71,259
910
1,997
74,166

THE GOOD SOIL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

10 Employees

(Continued)

There were no employees whose annual remuneration was more than £60,000.

11 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

12 Property, plant and equipment

Leasehold
improvements
Computers
Motor
vehicles
£
£
£
Cost
At 1 April 2023
3,135
978
26,945
Disposals
-
-
(1,800)
At 31 March 2024
3,135
978
25,145
Depreciation and impairment
At 1 April 2023
229
343
17,731
Depreciation charged in the year
392
196
2,109
Eliminated in respect of disposals
-
-
(974)
At 31 March 2024
621
539
18,866
Carrying amount
At 31 March 2024
2,514
439
6,279
At 31 March 2023
2,906
635
9,214		 Total
£
31,058
(1,800)
29,258
18,303
2,697
(974)
20,026
9,232
12,755
13
Trade and other receivables
Amounts falling due within one year:
Other receivables
Prepayments and accrued income		 2024
£
8,855
3,517
12,372		 2023
£
2,817
669
3,486

THE GOOD SOIL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

14
Current liabilities
Other taxation and social security
Other payables
Accruals and deferred income
15
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 2024
£
2,113
3,688
3,457
9,258
2024
£
2,743		 2023
£
2,166
11,648
3,714
17,528
2023
£
1,997

The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Charity in an independently administered fund.

16 Unrestricted funds - Designated

These are unrestricted funds which are material to the Charity's activities.

At
Van
Contingency fund
Previous year:
At
Van
Contingecy		 1 April
2023
Resources
expended
Transfers
At 31 March
2024
£
£
£
£
3,301
(825)
-
2,476
30,000
-
-
30,000
33,301
(825)
-
32,476
1 April
2022
Resources
expended
Transfers
At 31 March
2023
£
£
£
£
4,401
(1,100)
-
3,301
-
-
30,000
30,000
4,401
(1,100)
30,000
33,301		 1 April
2023
Resources
expended
Transfers
At 31 March
2024
£
£
£
£
3,301
(825)
-
2,476
30,000
-
-
30,000
33,301
(825)
-
32,476
1 April
2022
Resources
expended
Transfers
At 31 March
2023
£
£
£
£
4,401
(1,100)
-
3,301
-
-
30,000
30,000
4,401
(1,100)
30,000
33,301
33,301

Van - represents the net book value of the charity van purchased from restricted donations.

Contingency fund - represents money set aside as part of the charity's reserve policy.

THE GOOD SOIL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

17 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.

Movement in funds Movement in funds Movement in funds Movement in funds
Balance at Incoming Resources Transfers Balance at Incoming Resources Transfers Balance at
1 April 2022 resources expended 1 April 2023 resources expended 31 March 2024
£ £ £ £ £ £ £ £ £
Development fund - - - - - 60,000 (4,151) - 55,849
Resident Support fund - 2,000 - - 2,000 - - - 2,000
Office / Technology project 1,000 - - - 1,000 - (300) - 700
Minibus Fund 6,761 - (1,690) - 5,071 12,000 (1,267) - 15,804
Van appeal 1,686 - (282) - 1,404 - (17) - 1,387
Steve Giligan 300 - - - 300 - - - 300
Sailing club 500 - - (500) - - - - -
Greenhouse - 500 (228) - 272 - (392) 120 -
Workshop Project - 800 - - 800 - - - 800
Wheelbarrows - 500 (457) - 43 - - - 43
Uniforms - 500 - - 500 - (103) - 397
10,247 4,300 (2,657) (500) 11,390 72,000 (6,230) 120 77,280

THE GOOD SOIL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

17 Restricted funds

(Continued)

Development fund - funds received from Nationwide Building Society Community Grant fund towards support and development growth, including additional staff salaries and costs.

Resident Support fund - funds received from The Albert Hunt Trust towards resident support.

Office / Technology Project - funds received from the Souter Trust in connection to the work development programme.

Minibus Fund - funds received from The Albert Hunt Trust and Cadbury to fund the cost of a new minibus.

Van appeal - funds received from Oliver Borthwick Memorial Trust, Bromwich Road Mission and other donations towards the cost of a van for gardening and produce.

Steve Gilligan - monies received towards the van appeal.

Sailing Club - monies received for boat.

Greenhouse- For purchase of new greenhouse.

Workshop Project - money re workshop extension.

Wheelbarrows- For purchase of new wheelbarrows.

Uniforms- For purchase of new uniforms.

THE GOOD SOIL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

18
Analysis of net assets between funds
Unrestricted
funds
Designated
funds
Restricted
funds
2024
2024
2024
£
£
£
Fund balances at 31 March 2024 are represented
by:
Property, plant and equipment
439
2,476
6,317
Current assets/(liabilities)
78,589
30,000
70,963
79,028
32,476
77,280		 Total
Unrestricted
funds
Designated
funds
Restricted
funds
2024
2023
2023
2023
£
£
£
£
9,232
635
3,301
8,819
179,552
70,126
30,000
2,571
188,784
70,761
33,301
11,390		 Total
2023
£
12,755
102,697
115,452

THE GOOD SOIL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

19 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).