**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:
- 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.
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
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
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
- (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
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.
- 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 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