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← Pennyhooks Farm Trust

2023-08-31-accounts

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

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2023

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 31ST AUGUST 2023

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 31ST AUGUST 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st August 2023. 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:

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.

Page 1

PENNYHOOKS FARM TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2023

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.

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 19-40 years. They each attend weekly as part of a specialist autism adapted work-training programme, for 1-5 days per week. We welcomed 2 new students this year, who are settling in very well. We continue to receive several new referrals who we will try to accommodate when we are able to recruit more staff.

As life slowly returned to normal for most people following the pandemic, we endeavoured to find activities to make products that allowed for good social distancing, such as planters and bee-houses. One of our volunteers has established several garden shops as outlets where these might be sold, which is helping to reach out to other communities. The original vision was that Pennyhooks should become known for the production of a few good items and this now seems to be a part of our lives with the planters and bee-houses.

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 we were unable to start this up again, 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 2024.

Health & Safety is a strong focus for Pennyhooks and our annual review went well with just a few advisory actions.

Page 2

PENNYHOOKS FARM TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2023

In September archaeologist, Dr Richard Lee visited to carry out some exploratory testing. He believes that our land contains earthworks unusually spanning thousands of years. He ran some workshops for keen archaeologists, to teach how to investigate and catalogue findings. In February he found the presence of diagnostic flints enabling dating to the Neolithic and Mesolithic periods, over 60,000 years ago.

In November we held our first 'in-person' Christmas Fayre since the pandemic. The happy event was well attended and achieved sales of over £6,000.

The BBC documentary, 'Farming on the Spectrum' was aired again in November and by the end of December had generated another £33,000 in donations. The film also continues to generate several referrals each month. We were only able to accommodate 2 new students, but continue to review staffing and timetabling, in order to facilitate other students. Staff and students are now being encouraged to return to more team working, following the pandemic with more structured sessions, diary time and job sheets, where possible. We also started increasing social contact with lunchtimes and birthday celebrations together.

In January, our Autism Centre Manager attended a seminar in Oxford for Real Farming. Her presentation about the work at Pennyhooks was well received.

The presence of Bird Flu posed additional problems during the winter, with needing to have all hens in covered runs. Luckily we didn't have any cases, and the DEFRA vet who visited, complimented our management and welfare of the hens.

In March we achieved our Social Farms and Gardens accreditation. We were also invited to contribute to a Government review, led by Sir Robert Buckland, setting out employment for autistic people, for publication in 2024.

Page 3

PENNYHOOKS FARM TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2023

In May we held our annual Plant Sale which achieved sales of over £2,000. This amount approximately covers the cost of the materials used and at the same time provides valuable activity for the students, who spend time potting and caring for the young bedding plants. As well as the plants they make wooden planters which are sold filled with bedding plants or empty for customers to add their own plants.

We continued to address the need and hope for our supported living project and have found the guidance and experience from Care Consultant, John Ahern, especially useful. The commissioning team from OCC visited the farm in July and gave their undivided support for the project, asking us to stay in touch as it develops.

During the Summer term the students were busy preparing for the Farm Open Day, which included making products to sell, baking cakes and tending the gardens and wildlife areas on the farm.

Page 4

PENNYHOOKS FARM TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2023

Renowned wildlife photographer, Paul Colley, visited the farm on several occasions and captured some excellent shots of wild animal and bird activity, signed photos of which will feature in our 2024 calendar.

In August we hosted a fund-raising sponsored walk in aid of the Webster Donkey Fund. 6 donkeys joined ours to walk the farm, the funds raised were then kindly granted to Pennyhooks Farm Trust for a new fence for our donkeys.

Page 5

PENNYHOOKS FARM TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2023

b) Educational opportunities and meaningful day to day work:

We offer specialist provision and take great care to engage people with a wide range of complex needs. The opportunity to engage in real and purposeful practical jobs around the farm continued to grow. Activities included gardening, baking, woodwork, tidying, craft and animal care.

The Wildlife group continued to develop well, the students engage in a weekly session in field work, the keeping of nature journals through plant and wildlife observations. Infra-red cameras installed on the farm capture creatures such as badger, deer, fox and otter movements.

c) Public engagement:

Our donkeys took part in the annual Palm Sunday procession at our local church, helped by some of our students and volunteers. We are very grateful to receive the collection from the service.

Page 6

PENNYHOOKS FARM TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2023

Other engagement with the local community takes place at our Open Days when we welcome about 600 visitors over the 3 events, who came to enjoy the farm and its surroundings as well as contributing towards our fund-raising.

Our patron the Reverend Dr Gordon Gatward OBE attending our open day.

Page 7

PENNYHOOKS FARM TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2023

d) Volunteers:

We continued to welcome volunteers, from individuals to business groups, using the opportunity for a team building day. Help has provided regular maintenance, gardening, tidying and decorating.

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:

Our Autism Centre Manager, Emma Masefield, continued her studies and research for her MEd into Autism.

We continued to receive many enquiries and requests for support following the BBC documentary, 'Farming on the Spectrum'. We endeavoured to respond where we could and continued to review staffing options to accommodate and facilitate additional students.

Fundraising activities

The annual fundraising events generated £8,500 in sales and donations, which is almost back to pre-pandemic levels.

Page 8

PENNYHOOKS FARM TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2023

FINANCIAL REVIEW

Financial position

At 31st August 2023 the charity held funds of £48,501 of which £24,191 were restricted.

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.

Page 9

PENNYHOOKS FARM TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

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.

Elaine Boyd, retired chartered surveyor, was officially appointed to the Board on December 11th 2023.

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.

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.

Page 10

PENNYHOOKS FARM TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT 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 charity reviews both internal and external risk factors on a regular basis and these are discussed at the trustees' meetings which are held quarterly or at a minimum biannually. 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.

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 (resigned 25.3.2024) Mrs W Faux HM Forces Officer Mrs E H Boyd (appointed 11.12.2023)

Independent Examiner

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

Page 11

PENNYHOOKS FARM TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2023

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 22nd May 2024 and signed on its behalf by:

R J Hurford - Trustee

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 31st August 2023.

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

  2. 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

  3. 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

29th May 2024

Page 13

PENNYHOOKS FARM TRUST

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31ST AUGUST 2023

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
109,855
Charitable activities
Education of people with autism
273,184
Other trading activities
2
11,687
Investment income
3
94
Total
394,820
EXPENDITURE ON
Raising funds
33,333
Charitable activities
4
Education of people with autism
397,087
Total
430,420
NET INCOME/(EXPENDITURE)
(35,600)
RECONCILIATION OF FUNDS
Total funds brought forward
59,910
TOTAL FUNDS CARRIED FORWARD
24,310		 Restricted
fund
£
2,001
-
-
107
2,108
-
24,016
24,016
(21,908)
46,099
24,191		 2023
Total
funds
£
111,856
273,184
11,687
201
396,928
33,333
421,103
454,436
(57,508)
106,009
48,501		 2022
Total
funds
£
123,515
268,651
7,397
10
399,573
33,992
386,966
420,958
(21,385)
127,394
106,009

The notes form part of these financial statements

Page 14

PENNYHOOKS FARM TRUST

BALANCE SHEET 31ST AUGUST 2023

Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
11
20,432
CURRENT ASSETS
Stocks
12
2,680
Debtors
13
9,952
Cash at bank and in hand
20,793
33,425
CREDITORS
Amounts falling due within one year
14
(29,547)
NET CURRENT ASSETS
3,878
TOTAL ASSETS LESS CURRENT
LIABILITIES
24,310
NET ASSETS
24,310
FUNDS
16
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
fund
£
8,565
-
-
15,626
15,626
-
15,626
24,191
24,191		 2023
Total
funds
£
28,997
2,680
9,952
36,419
49,051
(29,547)
19,504
48,501
48,501
24,310
24,191
48,501		 2022
Total
funds
£
32,380
2,680
12,161
78,577
93,418
(19,789)
73,629
106,009
106,009
59,910
46,099
106,009

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 15

PENNYHOOKS FARM TRUST

BALANCE SHEET - continued 31ST AUGUST 2023

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 22nd May 2024 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 31ST AUGUST 2023

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.

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 31ST AUGUST 2023

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
Shop income
Egg sales
3.
INVESTMENT INCOME
Deposit account interest
4.
CHARITABLE ACTIVITIES COSTS
Education of people with autism
5.
DIRECT COSTS OF CHARITABLE ACTIVITIES
Staff costs
Rent and rates
Insurance
Light and heat
Telephone and computer costs
Postage and stationery
Sundry expenses
Premise maintenance costs
Daily communal cleaning
Student activity costs
Open day costs
Food and refreshments
Sub-contractors
Livestock costs		 Direct
Costs (see
note 5)
£
374,718		 2023
£
1,868
8,565
1,254
11,687
2023
£
201
Support
costs (see
note 6)
£
46,385
2023
£
243,407
25,200
14,505
18,051
1,554
501
1,350
9,166
15,787
2,564
825
1,960
29,912
9,936
374,718		 2022
£
3,388
2,546
1,463
7,397
2022
£
10
Totals
£
421,103		 2022
£
3,388
2,546
1,463
7,397
2022
£
232,756
25,200
13,497
8,798
1,450
686
1,713
13,138
14,472
1,247
813
1,625
18,715
8,707
342,817

continued...

Page 18

PENNYHOOKS FARM TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2023

6. SUPPORT COSTS

Management
£
Education of people with autism
39,128		 Governance
Finance
costs
£
£
1,337
5,920		 Totals
£
46,385

Support costs, included in the above, are as follows:

Management

2023 2022
Education
of people
with Total
autism activities
£ £
Wages and administration 31,173 28,519
Professional fees 2,690 3,613
Depreciation of tangible and heritage assets 5,265 5,069
39,128 37,201
Finance
2023 2022
Education
of people
with Total
autism activities
£ £
Bank charges and interest 1,337 1,148
Governance costs
2023 2022
Education
of people
with Total
autism activities
£ £
Accountancy fees 5,100 5,000
Independent Examiners fee 820 800
5,920 5,800

continued...

Page 19

PENNYHOOKS FARM TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2023

7. NET INCOME/(EXPENDITURE)

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

Rent
Depreciation
Independent Examiners Fee		 £
24,000
4,537
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 £30,200 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 31st August 2023 nor for the year ended 31st August 2022.

9. STAFF COSTS

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

Teaching staff
Support staff
Administrative staff		 2023
3
13
2
18		 2022
3
12
2
17

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

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
93,515
Charitable activities
Education of people with autism
268,651
Other trading activities
7,397
Investment income
8
Total
369,571		 Restricted
fund
£
30,000
-
-
2
30,002		 Total
funds
£
123,515
268,651
7,397
10
399,573

continued...

Page 20

PENNYHOOKS FARM TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2023

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued

Unrestricted
Restricted
fund
fund
£
£
EXPENDITURE ON
Raising funds
33,992
-
Charitable activities
Education of people with autism
382,383
4,583
Total
416,375
4,583
NET INCOME/(EXPENDITURE)
(46,804)
25,419
RECONCILIATION OF FUNDS
Total funds brought forward
106,714
20,680
TOTAL FUNDS CARRIED FORWARD
59,910
46,099
11.
TANGIBLE FIXED ASSETS
Improvements
Fixtures
to
Plant and
and
Office
property
machinery
fittings
equipment
£
£
£
£
COST
At 1st September 2022
33,209
10,017
7,584
1,788
Additions
-
1,499
-
383
At 31st August 2023
33,209
11,516
7,584
2,171
DEPRECIATION
At 1st September 2022
8,041
6,070
4,319
1,788
Charge for year
3,321
1,089
759
96
At 31st August 2023
11,362
7,159
5,078
1,884
NET BOOK VALUE
At 31st August 2023
21,847
4,357
2,506
287
At 31st August 2022
25,168
3,947
3,265
-		 Total
funds
£
33,992
386,966
420,958
(21,385)
127,394
106,009
Totals
£
52,598
1,882
54,480
20,218
5,265
25,483
28,997
32,380

continued...

Page 21

PENNYHOOKS FARM TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2023

12. STOCKS

12.
STOCKS
Stocks
13.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Prepayments and accrued income
14.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Accruals and deferred income		 2023
£
2,680
2023
£
9,452
500
9,952
2023
£
19,003
5,504
5,040
29,547		 2022
£
2,680
2022
£
11,661
500		 2022
£
2,680
12,161
2022
£
9,719
5,370
4,700
19,789

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
General fund
Restricted funds
Restricted fund
TOTAL FUNDS		 At 1.9.22
£
59,910
46,099
106,009		 Net
movement
in funds
£
(35,600)
(21,908)
(57,508)		 At
31.8.23
£
24,310
24,191
48,501

continued...

Page 22

PENNYHOOKS FARM TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2023

16. MOVEMENT IN FUNDS - continued

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

Incoming
resources
£
Unrestricted funds
General fund
394,820
Restricted funds
Restricted fund
2,108
TOTAL FUNDS
396,928
Comparatives for movement in funds
At 1.9.21
£
Unrestricted funds
General fund
106,714
Restricted funds
Restricted fund
20,680
TOTAL FUNDS
127,394
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
369,571
Restricted funds
Restricted fund
30,002
TOTAL FUNDS
399,573		 Resources
Movement
expended
in funds
£
£
(430,420)
(35,600)
(24,016)
(21,908)
(454,436)
(57,508)
Net
movement
At
in funds
31.8.22
£
£
(46,804)
59,910
25,419
46,099
(21,385)
106,009
Resources
Movement
expended
in funds
£
£
(416,375)
(46,804)
(4,583)
25,419
(420,958)
(21,385)

continued...

Page 23

PENNYHOOKS FARM TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2023

16. MOVEMENT IN FUNDS - continued

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

Unrestricted funds
General fund
Restricted funds
Restricted fund
TOTAL FUNDS		 At 1.9.21
£
106,714
20,680
127,394		 Net
movement
in funds
£
(82,404)
3,511
(78,893)		 At
31.8.23
£
24,310
24,191
48,501

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

Unrestricted funds
General fund
Restricted funds
Restricted fund
TOTAL FUNDS		 Incoming
resources
£
764,391
32,110
796,501		 Resources
Movement
expended
in funds
£
£
(846,795)
(82,404)
(28,599)
3,511
(875,394)
(78,893)		 Resources
Movement
expended
in funds
£
£
(846,795)
(82,404)
(28,599)
3,511
(875,394)
(78,893)
(78,893)

17. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31st August 2023.

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 31ST AUGUST 2023

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Gift aid
Grants
Other trading activities
Fundraising events
Shop income
Egg sales
Investment income
Deposit account interest
Charitable activities
Student income
Total incoming resources
EXPENDITURE
Other trading activities
Livestock costs
Cost of materials
Labour costs
Charitable activities
Wages
Social security
Pensions
Rent and rates
Insurance
Light and heat
Telephone and computer costs
Postage and stationery
Sundry expenses
Premise maintenance costs
Daily communal cleaning
Carried forward		 2023
£
106,485
5,371
-
111,856
1,868
8,565
1,254
11,687
201
273,184
396,928
3,912
5,362
24,059
33,333
221,880
17,202
4,325
25,200
14,505
18,051
1,554
501
1,350
9,166
15,787
329,521		 2022
£
114,627
2,129
6,759
123,515
3,388
2,546
1,463
7,397
10
268,651
399,573
5,033
5,040
23,919
33,992
213,665
15,262
3,829
25,200
13,497
8,798
1,450
686
1,713
13,138
14,472
311,710

This page does not form part of the statutory financial statements

Page 25

PENNYHOOKS FARM TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2023

Charitable activities
Brought forward
Student activity costs
Open day costs
Food and refreshments
Sub-contractors
Livestock costs
Support costs
Management
Wages and administration
Professional fees
Improvements to property
Plant and machinery
Fixtures and fittings
Computer equipment
Finance
Bank charges and interest
Governance costs
Accountancy fees
Independent Examiners fee
Total resources expended
Net expenditure		 2023
£
329,521
2,564
825
1,960
29,912
9,936
374,718
31,173
2,690
3,321
1,089
759
96
39,128
1,337
5,100
820
5,920
454,436
(57,508)		 2022
£
311,710
1,247
813
1,625
18,715
8,707
342,817
28,519
3,613
3,321
989
759
-
37,201
1,148
5,000
800
5,800
420,958
(21,385)

This page does not form part of the statutory financial statements

Page 26