**REGISTERED COMPANY NUMBER: 09931286 (England and Wales) REGISTERED CHARITY NUMBER: 1166812** 

## **REPORT OF THE TRUSTEES AND** 

## **UNAUDITED FINANCIAL STATEMENTS** 

**FOR THE YEAR ENDED 31 AUGUST 2022** 

## **FOR** 

## **PENNYHOOKS FARM TRUST** 

Martin and Company 25 St Thomas Street Winchester Hampshire SO23 9HJ 



**PENNYHOOKS FARM TRUST** 

**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022** 

||**Page**|
|---|---|
|**Report of the Trustees**|1 to 12|
|**Independent Examiner's Report**|13|
|**Statement of Financial Activities**|14|
|**Balance Sheet**|15 to 16|
|**Notes to the Financial Statements**|17 to 24|
|**Detailed Statement of Financial Activities**|25 to 26|





**PENNYHOOKS FARM TRUST** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022** 

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

## **OBJECTIVES AND ACTIVITIES Objectives and aims** 

The objects of the charity are: 

- to advance the education of people with autism spectrum condition ("ASC") and associated difficulties by developing their capabilities, skills and work-related training opportunities through the provision of therapeutic farming, rural craft, conservation based and other appropriate activities on Pennyhooks Farm or other suitable rural locations which operate a traditional conservation-focussed approach to farm management and which provide an appropriate environment for people with ASC. 

- to advance the education of people who work with people with ASC and associated difficulties on farms or other suitable rural settings providing training and in such other ways as the trustees see fit. 

- to provide relief for people with ASC and associated difficulties and for those caring for them through the provision of residential and respite care at Pennyhooks Farm or other suitable rural locations and in such other ways as the trustees think fit. 

The trustees endeavour to ensure that everyone engaged in furthering the Objects show unconditional positive regard for students, clients and all those associated with them. 

## **Public benefit** 

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities. The charity provides a public benefit in the form of the educational opportunities it provides to those with autism spectrum condition in both the local and wider community. The charity also works to raise the awareness and understanding of autism spectrum condition. 

Page 1 



**PENNYHOOKS FARM TRUST** 

**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022** 

## **ACHIEVEMENT AND PERFORMANCE Charitable activities** 

## **1. Charitable Activities** 

## **a) Charity Achievements in the year:** 

The number of people currently supported each week includes 25-30 individuals with complex Autism, aged from 19-38 years. They each attend weekly as part of a specialist autism adapted work-training programme, for 1-5 days per week. Whilst the country returned to some level of normality this year, Covid was still placing a number of restrictions on Pennyhooks, placing a huge responsibility on the team, caring for this vulnerable group amd their families. Pennyhooks continued to operate best social distancing practices and staggered hours in order to separate students. We endeavoured to find activities to make products, such as planters and bee-houses that allowed for good social distancing. Five students were not able to be vaccinated; therefore keeping staff and students safe was paramount. We are fortunate that we have a lot of outdoor space and activities. As winter approached additional shelters were purchased and erected using generated funds and provided extra individual indoor spaces and protection from the winter elements. 

Pre-pandemic we hosted groups of children from SEN schools for regular farm visits and activities. We also previously engaged with other local groups of children, such as cubs and other local visitors. However due to on-going Covid restrictions we were unable to maintain this, needing to focus on the safety and well-being of our core students and their families. We are hopeful that these will start up again in 2023. 

In order to ensure best health and safety hygiene practices, a cleaning company continued to be employed and daily sanitisation of key touch points took place. 

One student with difficult personal circumstances lived on site in the garden annexe for a period of 9 months, whilst Social Services sorted out something more permanent. She requires 24 hour / 7 day supervision and support which Pennyhooks were able to manage on an interim basis. 

In November we held a 'Pre-order and Collect' Christmas Fayre. The event was held outside to ensure adequate social distancing and mulled punch was served and the donkeys came too. We all enjoyed being together again. 

In December a film crew from the BBC spent a week at the farm filming a documentary for the 'We Are England' series. They filmed all aspects of the work at the farm and the engagement of the students. The documentary, entitled 'Farming on the Spectrum' was aired in February 2022 and presented what the farm meant to different students as well as focussing on the funding issues and future development plans. The 30 minute film received a huge response, not just in donations, but also in more enquiries/referrals than we could cater for, we did however enrol 4 new students.The film also won a category in the Prix Circom Regional awards for representing Minorities in Society, with the judges stating that, 'the winners are bringing a strong message of hope, understanding and support for those struggling with a hard life'. 


Page 2 



**PENNYHOOKS FARM TRUST** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022** 


**BBC filming of the documentary ‘We Are England – Farming on the Spectrum’** 

In February we appreciated the opportunity for engagement with Liveability, a charity committed to enabling people with disabilities to lead the lives they want to lead and who share our approach to education of people with autism in an outdoor setting. 

We began to practically address the need and hope for accommodation by: 

- Meeting with an architect to discuss potential design. 

- Asking parents to complete a survey of their child's particular requirements for accommodation. This will inform appropriate design. 

- Initiating contact with the OCC Commissioning Manager - Live Well to ensure that we work with them to achieve identified housing requirements of the County. 

Towards the end of February we had to cope with Storm Eunice, which took off the roofs of farm buildings and tore down trees causing us to cancel students for the day. 

As Spring progressed we gradually relaxed Covid rules, wearing masks inside, but not outside once the warmer weather came and we could spend more time outside. Individual rooms and loos were less critical but still observed for those students who remained unvaccinated. It was still apparent that as the pandemic had gone on for so long the families were very tired and wanted more help from us. We responded by enabling students to attend for longer and more sessions and increased our group times. 

Page 3 



**PENNYHOOKS FARM TRUST** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022** 

The Plant sale took place in May. It enabled us to sell the plants and planters that had been a large part of the students' activities during the Spring term. 



**Preparation for the Plant Sale and making planters** 

Page 4 



**PENNYHOOKS FARM TRUST** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022** 

We held First Aid Responder training for all the staff in June. 

During the Summer term the students were busy preparing for the Farm Open Day. Activities included gardening, baking, woodwork, tidying, craft and animal care. The very hot weather and drought came which necessitated greater care for the animals. 

The Rt Hon Sir Robert Buckland MP visited to engage with us about our approach to autism. He asked us to contribute to an Autism Employment Review that he is conducting. 

We began a more sophisticated approach to our accommodation project with the help of parents and other advisors; a Gant chart has been created to record our progression. 

For our general documentation we added a more detailed historical context to our Ethos. 

## **b) Educational opportunities and meaningful day to day work:** 

The Wildlife group continued to develop well, from weekly zoom sessions during the lockdowns, the students were reengaged in field work and plant and wildlife observations. Infra-red cameras were installed to capture fox, badger, deer and otter movements. 


Page 5 



**PENNYHOOKS FARM TRUST** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022** 


**The Wildlife Group, fieldwork and animal care** 

All students were glad to increase their involvement in the purposeful routines of farm life again. 

## **c) Public engagement:** 

As Pennyhooks continued to operate Covid measures, the annual fund-raising Christmas Fayre and Plant Sale operated as pre-order and collect events. Whilst we received excellent from families and friends as well as the local community, sales were half of pre-pandemic levels. Nonetheless these events provided opportunities for students to produce items for sale. 


Page 6 



**PENNYHOOKS FARM TRUST** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022** 


## **Christmas Fayre and Harvest Meal Event** 

It was a pleasure to welcome visitors back to the farm for our Summer Open Day. Families enjoyed beautiful sunshine, brought picnics, went for walks and interacted with the animals. 

## **d) Volunteers:** 

As a response to the BBC documentary, a recently retired gentleman, who also has an interest in autism, volunteered 2 days a week and is proving to be an enormous help in getting the garden areas tidied and general maintenance jobs tackled. 

Regular volunteers also made a great difference in supporting us with practical jobs, especially at weekends. About 40 volunteers of family and friends also provided vital support for a happy and successful Open Day. 

## **2. Raising awareness and understanding of ASC:** 

In the Spring a meeting with Swindon Borough Council outlined a more consultative way of working with providers. The Commissioner commended the BBC documentary as an excellent service that Swindon uses. 

Emma Masefield, the Autism Centre Manager, was invited by the Bank of England during Autism awareness week to deliver a presentation which was very well received. 

Page 7 



**PENNYHOOKS FARM TRUST** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022** 



**Celebrating the Queen’s Jubilee** 

Page 8 



**PENNYHOOKS FARM TRUST** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022** 


## **Enjoying helping with the animals** 

## **ACHIEVEMENT AND PERFORMANCE** 

## **Fundraising activities** 

The BBC documentary, 'Farming on the Spectrum' was aired in February. Within minutes of it ending, donations began flooding in. This generated a lot of administrative work as each donor was thanked and assured that their donation would indeed make a great difference. One couple, following a visit to the farm, clearly understood our issues and donated £10,000 and by the end of February we had received almost £37,000 in total. 

A father whose son features on the documentary put a link to the programme onto his Twitter page, and this also received much comment and support. 

The annual fund-raising events generated £5,600 in sales and donations, which is approximately half of pre-pandemic levels. 

## **FINANCIAL REVIEW** 

## **Financial position** 

At 31st August 2022 the charity held funds of £106,009 of which £46,099 were restricted. 

Page 9 



**PENNYHOOKS FARM TRUST** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022** 

## **Reserves policy** 

It is the policy of the charity to maintain its free reserves at a level to provide sufficient funds to cover management, administration and support costs. Going forwards the charity would like to build up a level of reserves that would be sufficient to cover its charitable objectives for a 3 month period should charitable income become short or be delayed or deferred. 

All funds received are assessed at the point of receipt and allocated to general or restricted funds as appropriate. All restricted funds unspent during an accounting year will form a restricted funds reserve and will only be spent in accordance with the restriction set upon the original receipt. 

All general funds are free to be spent by the charity as seen fit by the trustees with the necessary reserves held in accordance with the reserves policy. Any exceptional spending or capital expenditure will be thoroughly reviewed by the trustees before spending is carried out. 

The reserves policy will be reviewed on an annual basis or sooner if external circumstances should dictate. 

## **FUTURE PLANS** 

As recorded in our annual achievements account, we are now engaged in developing our plans for accommodating students on site. 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Governing document** 

The charity is governed by its Articles of Association and is a company limited by guarantee, as defined by the Companies Act 2006. 

## **Recruitment and appointment of new trustees** 

The current trustees are responsible for the appointment of all future trustees who are appointed or co-opted under the provisions of the articles of association. 

As the charity develops the aim is to identify further potential trustees with expertise in areas such as the treatment of autism, care farming, fundraising, financial and organisational management, charitable work etc. to further the charity's aims and objectives. 

Wendy Faux, HM Forces Officer, was officially appointed to the Board on November 14th 2021. 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Organisational structure and decision making** 

The charity trustees are responsible for the general control and management of the charity. The trustees give their time freely and receive no remuneration for carrying out their trustee duties. One of the trustees receives remuneration for his additional role of Farm Manager. 

The trustees meet on a bi-monthly or quarterly basis to progress the aims of the charity and to support the Pennyhooks staff, clients and programme. During the pandemic the trustees continued to meet at least twice a month to help respond to a continually changing situation. 

Emma Masefield continues to develop her role as Autism Centre Manager, especially following the increase in referrals. A Psychology and Special Educational Needs Graduate, Mrs Masefield has been working in the field of Autism and education since 1990 and is currently preparing her Masters degree, MEd Autism (Adults). Her extensive knowledge and experience of the difficulties and strengths of people with autism spectrum condition have proved invaluable, having worked with a wide range of children, young people and adults who are on the spectrum. 

Page 10 



**PENNYHOOKS FARM TRUST** 

**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022** 

## **Safeguarding Policy** 

Pennyhooks Farm Trust considers that abuse is a violation of an individual's human and civil rights by any other person or persons. The risk of being abused depends upon the situation, the environment and the perpetrators, not on the behaviour of victims. Many incidents of abuse are criminal offences. 

Recognising that inequality, disadvantage and discrimination exist in society, we accept responsibility for ensuring that all our vulnerable students regardless of their ethnic origin, religion, language, age, sexuality, gender or disability have equal opportunity to access services and information designed to protect them from abuse and to promote their welfare. 

Pennyhooks Farm Trust has a robust safeguarding policy in place and as part of this ensures that all staff are DBS checked and receive regular training. The training given includes health and safety training to maintain standards in line with our detailed health and safety and risk assessment policies. 

## **Risk management** 

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The biggest risk mitigation this year was Covid. The team sought advice from their H&S consultant, developing comprehensive Risk Assessments to ensure best protocols and practice for Covid. To ensure a safe environment for our students the perimeter walkway around the farm with fencing and field shelters enabled students to visit with their families during lockdown and provided a safe walking space for staff and students to maintain good social distance. We restricted access to our buildings, maintaining as much outdoor activity as possible. 

The charity will review both internal and external risk factors on a regular basis and these will be discussed at the trustees' meeting which are held quarterly or at a minimum bi-annually. An annual H&S review is held with our consultant. 

All staff are trained and instructed to communicate any risks or perceived risks to the charity in a timely manner so that necessary controls and procedures can be implemented to reduce or avoid exposure. 

The main risks to the charity and its activities are reductions in donations and government funding, the safe guarding of the students, staff and families together with health and safety risks. Financial reviews are carried out monthly and safeguarding and health and safety policy and risk management is carried out daily. All new activities, staff and students are assessed fully before they become part of the Trust's work and its activities. 

Page 11 



**PENNYHOOKS FARM TRUST** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022** 

## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 

09931286 (England and Wales) 

**Registered Charity number** 1166812 

## **Registered office** 

Appletree House Pennyhooks Farm Shrivenham Swindon SN6 8EX 

## **Trustees** 

R J Hurford P E M Morris K Lender Mrs W Faux HM Forces Officer (appointed 14.11.21) 

## **Independent Examiner** 

Will Nixey Martin and Company 25 St Thomas Street Winchester Hampshire SO23 9HJ 

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. 

Approved by order of the board of trustees on 30 May 2023 and signed on its behalf by: 


Page 12 



**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PENNYHOOKS FARM TRUST** 

## **Independent examiner's report to the trustees of Pennyhooks Farm Trust ('the Company')** 

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2022. 

## **Responsibilities and basis of report** 

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). 

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. 

## **Independent examiner's statement** 

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. 

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: 

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 

3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or 

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). 

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 accounts to be reached. 

Will Nixey 

The Institute of Chartered Accountants in England and Wales 

Martin and Company 25 St Thomas Street Winchester Hampshire SO23 9HJ � r Date: ............................................. .J\).I\..L lb 1-� 

Page 13 



**PENNYHOOKS FARM TRUST** 

## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2022** 

|Unrestricted<br>fund<br>Notes<br>£<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>**93,515**<br>**Charitable activities**<br>Education of people with autism<br>**268,651**<br>Other trading activities<br>2<br>**7,397**<br>Investment income<br>3<br>**8**<br>**Total**<br>**369,571**<br>**EXPENDITURE ON**<br>Raising funds<br>**33,992**<br>**Charitable activities**<br>4<br>Education of people with autism<br>**382,383**<br>**Total**<br>**416,375**<br>**NET INCOME/(EXPENDITURE)**<br>**(46,804)**<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>**106,714**<br>**TOTAL FUNDS CARRIED FORWARD**<br>**59,910**|Restricted<br>fund<br>£<br>**30,000**<br>**-**<br>**-**<br>**2**<br>**30,002 **<br>**-**<br>**4,583**<br>**4,583**<br>**25,419**<br>**20,680**<br>**46,099**|**31.8.22**<br>**Total**<br>**funds**<br>**£**<br>**123,515**<br>**268,651**<br>**7,397**<br>**10**<br>**399,573**<br>**33,992**<br>**386,966**<br>**420,958**<br>**(21,385)**<br>**127,394**<br>**106,009**|31.8.21<br>Total<br>funds<br>£<br>156,715<br>230,277<br>4,541<br>18<br>391,551<br>29,856<br>331,568<br>361,424<br>30,127<br>97,267<br>127,394|
|---|---|---|---|



The notes form part of these financial statements 

Page 14 



**PENNYHOOKS FARM TRUST** 

## **BALANCE SHEET 31 AUGUST 2022** 

|Unrestricted<br>fund<br>Notes<br>£<br>**FIXED ASSETS**<br>Tangible assets<br>11<br>**22,299**<br>**CURRENT ASSETS**<br>Stocks<br>12<br>**2,680**<br>Debtors<br>13<br>**12,161**<br>Cash at bank and in hand<br>**42,559**<br>**57,400**<br>**CREDITORS**<br>Amounts falling due within one year<br>14<br>**(19,789)**<br>**NET CURRENT ASSETS**<br>**37,611**<br>**TOTAL ASSETS LESS CURRENT**<br>**LIABILITIES**<br>**59,910**<br>**NET ASSETS**<br>**59,910**<br>**FUNDS**<br>16<br>Unrestricted funds<br>Restricted funds<br>**TOTAL FUNDS**|Restricted<br>fund<br>£<br>**10,081**<br>**-**<br>**-**<br>**36,018**<br>**36,018**<br>**-**<br>**36,018**<br>**46,099**<br>**46,099**|**31.8.22**<br>**Total**<br>**funds**<br>**£**<br>**32,380**<br>**2,680**<br>**12,161**<br>**78,577**<br>**93,418**<br>**(19,789)**<br>**73,629**<br>**106,009**<br>**106,009**<br>**59,910**<br>**46,099**<br>**106,009**|31.8.21<br>Total<br>funds<br>£<br>33,557<br>2,800<br>21,429<br>85,779<br>110,008<br>(16,171)<br>93,837<br>127,394<br>127,394<br>106,714<br>20,680<br>127,394|
|---|---|---|---|



The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022. 

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022 in accordance with Section 476 of the Companies Act 2006. 

The trustees acknowledge their responsibilities for 

- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and 

- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. 

The notes form part of these financial statements 

Page 15 

continued... 



**PENNYHOOKS FARM TRUST** 

**31 AUGUST 2022** 

## **BALANCE SHEET - continued** 

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

The financial statements were approved by the Board of Trustees and authorised for issue on 30 May 2023 and were signed on its behalf by: 


The notes form part of these financial statements 

Page 16 



**PENNYHOOKS FARM TRUST** 

**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022** 

## **1. ACCOUNTING POLICIES** 

## **Basis of preparing the financial statements** 

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

## **Income** 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. 

## **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 and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. 

## **Support costs** 

Support costs are separated from those directly relating to the charitable activity. The support costs have been split between management, financial and governance costs. The management costs relate to the wages of staff involved in the overall functioning of the Charity and not those carrying out the charitable activity work itself. As some staff carry out more than one role it has been deemed appropriate to include 10% of all staff costs as support costs by the Trustees. 

## **Tangible fixed assets** 

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. 

|Plant and machinery|-  20% on reducing balance|
|---|---|
|Fixtures and fittings|-  10% on cost|
|Office equipment|-  25% on cost|



## **Stocks** 

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

## **Taxation** 

The charity is exempt from corporation tax on its charitable activities. 

## **Fund accounting** 

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

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. 

## **Hire purchase and leasing commitments** 

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. 

continued... 

Page 17 



**PENNYHOOKS FARM TRUST** 

**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022** 

## **1. ACCOUNTING POLICIES - continued** 

## **Pension costs and other post-retirement benefits** 

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

## **2. OTHER TRADING ACTIVITIES** 

|Fundraising events<br>Shop income<br>Egg sales<br>**3.**<br>**INVESTMENT INCOME**<br>Deposit account interest<br>**4.**<br>**CHARITABLE ACTIVITIES COSTS**<br>Education of people with autism<br>**5.**<br>**DIRECT COSTS OF CHARITABLE ACTIVITIES**<br>Staff costs<br>Rent and rates<br>Insurance<br>Light and heat<br>Telephone and computer costs<br>Postage and stationery<br>Sundry expenses<br>Premise maintenance costs<br>Daily communal cleaning<br>Training materials and equipment<br>Student activity costs<br>Open day costs<br>Food and refreshments<br>Sub-contractors<br>Livestock costs|Direct<br>Costs (see<br>note 5)<br>£<br>**342,817**|**31.8.22**<br>**£**<br>**3,388**<br>**2,546**<br>**1,463**<br>**7,397 **<br>**31.8.22**<br>**£**<br>**10**<br>Support<br>costs (see<br>note 6)<br>£<br>**44,149**<br>**31.8.22**<br>**£**<br>**232,756**<br>**25,200**<br>**13,497**<br>**8,798**<br>**1,450**<br>**686**<br>**1,713**<br>**13,138**<br>**14,472**<br>**-**<br>**1,247**<br>**813**<br>**1,625**<br>**18,715**<br>**8,707 **<br>**342,817**|31.8.21<br>£<br>2,294<br>1,355<br>892<br>4,541<br>31.8.21<br>£<br>18<br>Totals<br>£<br>**386,966**<br>31.8.21<br>£<br>211,556<br>25,200<br>12,867<br>6,311<br>964<br>981<br>735<br>16,511<br>-<br>4,281<br>1,770<br>-<br>1,233<br>2,239<br>6,852|
|---|---|---|---|
||||291,500|



continued... 

Page 18 



**PENNYHOOKS FARM TRUST** 

**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022** 

## **6. SUPPORT COSTS** 

|Management<br>£<br>Education of people with autism<br>**37,201 **<br>Support costs, included in the above, are as follows:<br>**Management**<br>Wages and administration<br>Consultancy fees<br>Professional fees<br>Depreciation of tangible and heritage assets<br>**Finance**<br>Bank charges and interest<br>**Governance costs**<br>Accountancy fees<br>Independent Examiners fee|Governance<br>Finance<br>costs<br>Totals<br>£<br>£<br>£<br>**1,148**<br>**5,800**<br>**44,149**<br>**31.8.22**<br>31.8.21<br>Education<br>of people<br>with<br>Total<br>autism<br>activities<br>**£**<br>£<br>**28,519**<br>**26,715**<br>**-**<br>**1,400**<br>**3,613**<br>**600**<br>**5,069**<br>**4,925**<br>**37,201 **<br>**33,640**<br>**31.8.22**<br>31.8.21<br>Education<br>of people<br>with<br>Total<br>autism<br>activities<br>**£**<br>£<br>**1,148**<br>**688**<br>**31.8.22**<br>31.8.21<br>Education<br>of people<br>with<br>Total<br>autism<br>activities<br>**£**<br>£<br>**5,000**<br>**4,970**<br>**800**<br>**770**<br>**5,800**<br>**5,740**|
|---|---|



continued... 

Page 19 



**PENNYHOOKS FARM TRUST** 

**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022** 

## **7. NET INCOME/(EXPENDITURE)** 

Net income/(expenditure) is stated after charging/(crediting): 

|Rent<br>Depreciation<br>Independent Examiners Fee|**£**<br>**24,000**<br>**4,537 **<br>**720**|
|---|---|



## **8. TRUSTEES' REMUNERATION AND BENEFITS** 

The trustees did not receive any remuneration or benefits for their roles during the year. R Hurford was employed by the charity as teaching and support staff and was paid a total of £30,000 in the year. This role was carried out independently of the trustee responsibilities and was carried out under an employment contract. 

## **Trustees' expenses** 

There were no  trustees' expenses paid for the year ended 31 August 2022 nor for the year ended 31 August 2021. 

## **9. STAFF COSTS** 

The average monthly number of employees during the year was as follows: 

||**31.8.22**|31.8.21|
|---|---|---|
|Teaching staff|**3**|3|
|Support staff|**12**|12|
|Administrative staff|**2**|2|
||**17**|17|



No employees received emoluments in excess of £60,000. 

## **10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** 

|Unrestricted<br>fund<br>£<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>52,133<br>**Charitable activities**<br>Education of people with autism<br>230,277<br>Other trading activities<br>4,541<br>Investment income<br>13<br>**Total**<br>286,964|Restricted<br>fund<br>£<br>104,582<br>-<br>-<br>5<br>104,587|Total<br>funds<br>£<br>156,715<br>230,277<br>4,541<br>18<br>391,551|
|---|---|---|



continued... 

Page 20 



**PENNYHOOKS FARM TRUST** 

**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022** 

|**10.**<br>**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**<br>Unrestricted<br>Restricted<br>fund<br>fund<br>£<br>£<br>**EXPENDITURE ON**<br>Raising funds<br>29,856<br>-<br>**Charitable activities**<br>Education of people with autism<br>222,642<br>108,926<br>**Total**<br>252,498<br>108,926<br>**NET INCOME/(EXPENDITURE)**<br>34,466<br>(4,339)<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>72,248<br>25,019<br>**TOTAL FUNDS CARRIED FORWARD**<br>106,714<br>20,680<br>**11.**<br>**TANGIBLE FIXED ASSETS**<br>Improvements<br>Fixtures<br>to<br>Plant and<br>and<br>Office<br>property<br>machinery<br>fittings<br>equipment<br>£<br>£<br>£<br>£<br>**COST**<br>At 1 September 2021<br>**29,317**<br>**10,017**<br>**7,584**<br>**1,788**<br>Additions<br>**3,892 **<br>**-**<br>**-**<br>**-**<br>At 31 August 2022<br>**33,209**<br>**10,017**<br>**7,584 **<br>**1,788**<br>**DEPRECIATION**<br>At 1 September 2021<br>**4,720**<br>**5,081**<br>**3,560**<br>**1,788**<br>Charge for year<br>**3,321**<br>**989**<br>**759**<br>**-**<br>At 31 August 2022<br>**8,041**<br>**6,070**<br>**4,319**<br>**1,788**<br>**NET BOOK VALUE**<br>At 31 August 2022<br>**25,168**<br>**3,947**<br>**3,265**<br>**-**<br>At 31 August 2021<br>24,597<br>4,936<br>4,024<br>-|Total<br>funds<br>£<br>29,856<br>331,568<br>361,424<br>30,127<br>97,267<br>127,394<br>Totals<br>£<br>**48,706**<br>**3,892 **<br>**52,598**<br>**15,149**<br>**5,069**<br>**20,218**<br>**32,380**<br>33,557|
|---|---|



continued... 

Page 21 



**PENNYHOOKS FARM TRUST** 

**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022** 

|**12.**|**STOCKS**|||
|---|---|---|---|
|||**31.8.22**|31.8.21|
|||**£**|£|
||Stocks|**2,680**|2,800|
|**13.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|||**31.8.22**|31.8.21|
|||**£**|£|
||Trade debtors|**11,661**|20,929|
||Prepayments and accrued income|**500**|500|
|||**12,161 **|21,429|
|**14.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|||**31.8.22**|31.8.21|
|||**£**|£|
||Trade creditors|**9,719**|7,118|
||Social security and other taxes|**5,370**|4,573|
||Accruals and deferred income|**4,700**|4,480|
|||**19,789**|16,171|



## **15. LEASING AGREEMENTS** 

An operating lease exists for the property rented by the charity to carry out its activities. The annual rental charge is £24,000 and this is set to continue until such a time that the property owner or Trustees wish for it to be reviewed. 

## **16. MOVEMENT IN FUNDS** 

|**Unrestricted funds**<br>General fund<br>**Restricted funds**<br>Restricted fund<br>**TOTAL FUNDS**|At 1.9.21<br>£<br>**106,714**<br>**20,680**<br>**127,394 **|Net<br>movement<br>in funds<br>£<br>**(46,804)**<br>**25,419**<br>**(21,385) **|At<br>31.8.22<br>£<br>**59,910**<br>**46,099**<br>**106,009**|
|---|---|---|---|



continued... 

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**PENNYHOOKS FARM TRUST** 

**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022** 

## **16. MOVEMENT IN FUNDS - continued** 

Net movement in funds, included in the above are as follows: 

|Incoming<br>resources<br>£<br>**Unrestricted funds**<br>General fund<br>**369,571**<br>**Restricted funds**<br>Restricted fund<br>**30,002**<br>**TOTAL FUNDS**<br>**399,573**<br>**Comparatives for movement in funds**<br>At 1.9.20<br>£<br>**Unrestricted funds**<br>General fund<br>72,248<br>**Restricted funds**<br>Restricted fund<br>25,019<br>**TOTAL FUNDS**<br>97,267<br>Comparative net movement in funds, included in the above are as follows:<br>Incoming<br>resources<br>£<br>**Unrestricted funds**<br>General fund<br>286,964<br>**Restricted funds**<br>Restricted fund<br>104,587<br>**TOTAL FUNDS**<br>391,551|Resources<br>Movement<br>expended<br>in funds<br>£<br>£<br>**(416,375)**<br>**(46,804)**<br>**(4,583)**<br>**25,419**<br>**(420,958) **<br>**(21,385) **<br>Net<br>movement<br>At<br>in funds<br>31.8.21<br>£<br>£<br>34,466<br>106,714<br>(4,339)<br>20,680<br>30,127<br>127,394<br>Resources<br>Movement<br>expended<br>in funds<br>£<br>£<br>(252,498)<br>34,466<br>(108,926)<br>(4,339)<br>(361,424)<br>30,127|
|---|---|



continued... 

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**PENNYHOOKS FARM TRUST** 

**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022** 

## **16. MOVEMENT IN FUNDS - continued** 

A current year 12 months and prior year 12 months combined position is as follows: 

|**Unrestricted funds**<br>General fund<br>**Restricted funds**<br>Restricted fund<br>**TOTAL FUNDS**|At 1.9.20<br>£<br>72,248<br>25,019<br>97,267|Net<br>movement<br>in funds<br>£<br>(12,338)<br>21,080<br>8,742|At<br>31.8.22<br>£<br>59,910<br>46,099<br>106,009|
|---|---|---|---|



A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: 

|**Unrestricted funds**<br>General fund<br>**Restricted funds**<br>Restricted fund<br>**TOTAL FUNDS**|Incoming<br>resources<br>£<br>656,535<br>134,589<br>791,124|Resources<br>Movement<br>expended<br>in funds<br>£<br>£<br>(668,873)<br>(12,338)<br>(113,509)<br>21,080<br>(782,382)<br>8,742|
|---|---|---|



## **17. RELATED PARTY DISCLOSURES** 

There were no related party transactions for the year ended 31 August 2022. 

## **18. OPERATING LEASES** 

An operating lease exists for the property rented by the charity to carry out its activities. The annual rental charge is £24,000 and this is set to continue until such a time that the property owner or Trustees wish for it to be reviewed. 

Page 24 



**PENNYHOOKS FARM TRUST** 

## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2022** 

||31.8.22|31.8.21|
|---|---|---|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Donations|**114,627**|144,553|
|Gift aid|**2,129**|1,043|
|Grants|**6,759**|11,119|
||**123,515**|156,715|
|**Other trading activities**|||
|Fundraising events|**3,388**|2,294|
|Shop income|**2,546**|1,355|
|Egg sales|**1,463**|892|
||**7,397**|4,541|
|**Investment income**|||
|Deposit account interest|**10**|18|
|**Charitable activities**|||
|Student income|**268,651**|230,547|
|Schools and Academy income|**-**|(270)|
||**268,651 **|230,277|
|**Total incoming resources**|**399,573**|391,551|
|**EXPENDITURE**|||
|**Other trading activities**|||
|Livestock costs|**5,033**|3,493|
|Cost of materials|**5,040**|2,444|
|Labour costs|**23,919**|23,919|
||**33,992**|29,856|
|**Charitable activities**|||
|Wages|**213,665**|197,807|
|Social security|**15,262**|10,378|
|Pensions|**3,829**|3,371|
|Rent and rates|**25,200**|25,200|
|Insurance|**13,497**|12,867|
|Light and heat|**8,798**|6,311|
|Telephone and computer costs|**1,450**|964|
|Postage and stationery|**686**|981|
|Carried forward|**282,387**|257,879|



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Page 25 



**PENNYHOOKS FARM TRUST** 

## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2022** 

||31.8.22|31.8.21|
|---|---|---|
||£|£|
|**Charitable activities**|||
|Brought forward|**282,387**|257,879|
|Sundry expenses|**1,713**|735|
|Premise maintenance costs|**13,138**|16,511|
|Daily communal cleaning|**14,472**|-|
|Training materials and equipment|**-**|4,281|
|Student activity costs|**1,247**|1,770|
|Open day costs|**813**|-|
|Food and refreshments|**1,625**|1,233|
|Sub-contractors|**18,715**|2,239|
|Livestock costs|**8,707 **|6,852|
||**342,817**|291,500|
|**Support costs**|||
|**Management**|||
|Wages and administration|**28,519**|26,715|
|Consultancy fees|**-**|1,400|
|Professional fees|**3,613**|600|
|Improvements to property|**3,321**|2,932|
|Plant and machinery|**989**|1,234|
|Fixtures and fittings|**759**|759|
||**37,201**|33,640|
|**Finance**|||
|Bank charges and interest|**1,148**|688|
|**Governance costs**|||
|Accountancy fees|**5,000**|4,970|
|Independent Examiners fee|**800**|770|
||**5,800**|5,740|
|Total resources expended|**420,958**|361,424|
|**Net (expenditure)/income**|**(21,385) **|30,127|



This page does not form part of the statutory financial statements 

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