REGISTERED COMPANY NUMBER: 09931286 (England and Walcs) REGISTERED CHARITY NUMBER: 1166812 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024 FOR PENNYHOOKS FARM TRUST Martin and Company 25 St Thomas Street Winchester Hampshire S023 9HJ
PELNLNYHOOKS FARM TRUST CONTEINTS OF THE FIfiANCIAL sTATEIENTs FOR THE YEAR ENDED 31ST AUGUST 2024 Pagc Report of the Trustees I to 13 Independent Examiner's Report 14 Statement of Finaneial Activities 15 Balance Sheet 16 to 17 Notes to the Financial Statements 18 to 26 Detailed Statement of Financial Activities 27 to 28
PELNLNYHOOKS FARM TRUST REPORT OF THE TRLSTEES FOR THE YEAR ENDED 31ST AUGUST 2024 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 st August 2024. The trustees have adopred the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing iheiT accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of ITeland (FRS 102) (effective l 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 fanning, rural craft, conservalion based and other appropriate activities on Pennyhooks Fami or other suitable rra1 locations which operate a traditional conservation-focus5ed approach io 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 farnis or other suitable rural settings providing training and in such other way5 as the trustee5 see fit. to PTovide relief for people ivith ASC and assoLiaicd diffiLulties and foT tho%e CaTing for them through the PTovi%iun of r¢sid¢ntial and r¢spit¢ at Pennyhooks Farm or other suitable rural IoL(Itions (ind in such other ways the trubtees think fit. The trustees endeavour to ensuTe that ei'eryone engaged in fihering the Objects show unconditional positive regard for students, clients and all those associated with them. Public benefit The InLsl¢¢s ¢onfimi that ih¢y hav¢ referred to th¢ guidan¢e eoniained in the Charity Commission's general gllidan¢¢ on publi¢ b¢n¢fit wh¢n r¢vi¢wing (h¢ Trust's aims and obj¢¢iiv¢s and in planning fulure a¢tiviti¢s. Th¢ Charity provid¢s a public bencfil in the forni of (he educaiional opportunities il provides to thos¢ with autism spectrum condition in both the local and wider community. The charity also works to raise the awareness and undersLqnding of autism spectrum condition. Page I
PELNLNYHOOKS FARM TRUST REPORT OF THE TRLSTEES FOR THE YEAR ENDED 31ST AUGUST 2024 ACHIEVELIIENT AND PERFORMANCE Charitable activities l. Charitable Activities a) Charity Achievements in the year: The number of people currently supported each iveek includes 25-30 indiN-iduals with complex Autism, aged from 19-40 years. They each attend weekly as pan of a specialist autism adapted work-training programme, for 1-5 days per week. We welcomed 2 new students in September. who are sellling in Nery well. We continue to receive several new referrals who we will ty to accommodate when we are able to recruit more staff. Through some ring-fenced funds from different granls ive have been able lo increase hours for the ivoodwork teacher and another staff member as ivell as being able to recruit another part-time support Th'orker. Of concern, hoivever is ageing and health issues amongst the current staff and the difficulty in finding good staff with tbe right credentials to support our client group. Harsh winter weather added to staffing pressures, and we found that we needed to provide more indoor activities for the staff and students. Student making our De SM"eet Pea planter design, during our Thoodw'ork teacher's first year. OUT annual H&S review went well, our H&S consultant commented that Pennyhooks has a strong H&S culture, he offered a few advisory actions, which were acted upon. In Oclober we held our annual Harvesl celebrations with the students, in the week when we cook and eat the food we have grown, which we all enjoyed very much. Pressing grapes at Ilari¢st. Page 2
PENINYHOOKS FARM TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2024 In November our Christmas Fayre generated sales of almosi £4.000, with a wide range of quality woodwork. Our hedgeroTh jams and jellies were as popular as ever. We also sold photographic prints thanks to the generosity of renowned wildlife photographer, Paul Colley, whose phoiographs we also included in our calendar. Our Jams and Jellie5 mY4ke a colourful display at our Christmas Fayre. Making plelltv of reindeer for the Chri5tma5 Fayre. In January our ncw H¢dgc Planting proj¢ct startcd, thanks to a grant from thc RPA'S Countrysidc Stcwardship conservation based scheme. Starting to plant our new 60m hazel hedg Page 3
PELNLNYHOOKS FARM TRUST REPORT OF THE TRLSTEES FOR THE YEAR ENDED 31ST AUGUST 2024 Lydia Otter CEO, also received the wonderful news that she had been aivarded an MBE in the King's New Year's Honours, for services to Au(ism and their families in Oxfordshire. She attended her investiture service at Windsor Castle in February, conducted by Prince William of Wales, who was most interested in the Ork of Pennyhooks, and we continue to engage in cOespOndence with his office. Lydia Otter after being made an MBE for services to People with Autism and their Families in Oxfordshire Celebrating the MBE )Tr'ith the students and staff on our return from Windsor. Page 4
PELNLNYHOOKS FARM TRUST REPORT OF THE TRLSTEES FOR THE YEAR ENDED 31ST AUGUST 2024 Fund-raising coniinues to be a priority and critical in supporting our running costs and maintaining good reserves. We had received approval and salary support from the Watson Trnsl 10 recruit a dedicated, professional Fund-raiser. At the beginning of the year we advertised this position for someone who could lead all our funding aspects for our accommodation capital project and help us navigate our way fonvard in resourcing our day to day rlmning costs, as well as how we seek to connect '1th and challenge hearts and minds to Irnproe the lives of people with complex autism. Supported by our Consultant Fund-raiser during this interim period. we haN'e been looking for the right person. As part of our longer tern] succession plans for the Trust we had also received approval and salary support to enable us to advertise and recruit a new Farn] Manager, to gradually thke over the general management of the farn] from the current manager who is already 75 years old. We worked very closely with our HR consultant and because the role became unexpectedly bigger, decided to split the role into differellt elen]ents and behveen different people. As a result, the incuinbent Farm Worker was offered more responsibility has risen to the challenge and has settled well into his new role. Farni admin and conservation was shared between a volunleer and conservation consultants. In May we held our annual Plant Sale which achieved sales of £3.(XK). This avnount approximately cover5 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 planter5 which are sold filled with bedding plant5 or empty for customer5 to add their own plants. Happy customers at our Plant Sale. Page 5
PELNLNYHOOKS FARM TRUST REPORT OF THE TRLSTEES FOR THE YEAR ENDED 31ST AUGUST 2024 During the Summer tem) the students were busy preparing for the Fann Open Day, which included making products to sell, baking cakes and tending the gardens and '11dlife areas on the fann. Disappointingly, heaNy rain dampened the day, as we moved all activities inside. Although. attendance was lower, spirits were high and the event generated sales of £2,000. Summer Open Da), our Patron and his ilife ii'ith our Autism Director and CEO. Happ). winncr at the OpeD Day ral'flc. Page 6
PELNINYHOOKS FARM TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2024 b} Educational opportunities and meaningful day to day work: We offer specialist provision and take great care to engage people wilh a wide range of complex needs. The opportunity to engage in real and purposeful practical jobs around the fami continued to grow. Activities included gardening, baking, woodwork, tidying, craft and animal care. ij Students and their support staff watch the new bull arrii'e at the old cattle j'ards. The Wildlif¢ group ¢ontinu¢d lo d¢v¢lop w¢ll, Ih¢ slud¢nts cngagc in a l¢¢klY session in ficld work. the k¢¢ping of naturc journals through plant and wildlife observaiions. Infra-red camcras installcd on thc farn] capturc ereaturcs such as badger, decr, fox and oltcr movemcnts. A 14'ildlifc Group M'alk with the National Trust Ecologi5tS. Page 7
PELNLNYHOOKS FARM TRUST REPORT OF THE TRLSTEES FOR THE YEAR ENDED 31ST AUGUST 2024 In April pupils (aged 12-14), from the Bloom Academy in Hong Kong visited the fann during the Easter break to carry out field studies of the Pennyhooks land, as part of their Briiish History and Landscape course. They were led by Dr Richard Lee who had previously carried out exploratory archaeological testing, finding the presence of diagnostic flints, dating human presence to the Neolithic and Mesolithic periods over 60,000 years ago. Students from Hung Kong on their Field Stud!.. Using quadrants to Count field flowers. Page 8
PELNLNYHOOKS FARM TRUST REPORT OF THE TRLSTEES FOR THE YEAR ENDED 31ST AUGUST 2024 e) Public engagement: Our donkeys took part in the annual Palm Sunday procession at our local church. helped by some of our sthdents and volunteers. We are very grateful to receive the collection from the service. Other engagement with the local community Lqkes place at our Open Dajs w,hen we ivelcome about 600 visitors over the 3 events, who came to enjoy the fann and its surroundings as well as contribuling towards our fund-raising. Pennyhooks donkeys on Palm Sundayy in our village. d) Volunteers: We continucd to wclcomc volunicers, from individuals to busincss groups. using thc opportunity for a team building day. Help has providcd Tegular maintcnancc, gaTdening, tidying and decorating. Regular volunteers also made a great diffeTen¢e in .%upporting us with practical job%, especially at weekends. About 40 volunteers of family and friends also provided vital support for our happy and successful Summer Open Day. A volunteer group from Kier helping with the Open Da!" preparation. Page 9
PELNLNYHOOKS FARM TRUST REPORT OF THE TRLSTEES FOR THE YEAR ENDED 31ST AUGUST 2024 2. Raising awareness and understanding of ASC: Our Autism Cenire Manager, Emma Masefield: conlinued her studies for her MEd into Autism, achieving a first for her special SdY into the benefits of Pennvhooks Fann. "The Impacl of the Nara1 Environment on ihe Well-being of Autistic Adults" We are looking at how to utilise the interesl, and connect with people fiher, to help bring about help1 awareness and change in others understanding and approach to our students very particular needs and strengths. We are contributors lo the Cambridgeshire Autism Action Group who seek to increase awareness and opportlmities for people with complex Autism to gain work experience. We continued to receive many enquiries and requests for support following the BBC documentary, 'Farming on the Spectrum,. We endeavoured to respond ivhere we could and continued to review staffing options to accommodate and facilitate additional SdentS. Fundraising aCtitieS The annual fundraising events generated just over £1 1.500 IT] sales and donations. FINANCIAL REVIEW Financial position At 31 st August 2024 the charity held funds of £22,514 of which £21.159 were restricted. FINANCIAL REVIEW Reserves polic), It is th¢ policy of the charity to mriintain its fre¢ reserves at a level to provide sufficient funds to cover management. adrninistrdtion 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 rec¢iv¢d ar¢ assessed at th¢ point of receipt and allocal¢d io gen¢ral or r¢strict¢d llds as appropriat¢. All r¢siri¢l¢d funds unspeni during an a¢counling y¢ar will forn) a r¢slrici¢d fimds r¢s¢rv¢ and will only b¢ sp¢nt in accordanc¢ with th¢ r¢stri¢lion s¢1 upon lh¢ original r¢ccipl. All general funds are free to be speni by ihe charity as seen fit by ihe 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 betore spending is carried out. The reserves policy will be reviewed on an annual basis or sooner if external circumstances should dictate. FUTURE PLALNS As Tecorded in our annual achievements accounl. we are now engaged in developing our plans for accommodating sdentS on site. Local Authority planning perniission has been granted to re-site our current cattle yards, their current buildings to be converted for purpose built supported living accommodation for 5 individuals, with communal rooms, kitchen, laundry, drying room and staff facility. STRUCTURE, GOVERNANCE 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 neiv trustees The current trustees are responsible for the appointment of all future trustee5 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 organisatlODal management. charitable work etc. to further the charity's aims and objcclivcs. Page 10
PELNLNYHOOKS FARM TRUST REPORT OF THE TRLSTEES FOR THE YEAR ENDED 31ST AUGUST 2024 Elaine Boyd. retired chartered surveyor. was 01Cla11Y appointed to the Board on December 11 th 2023. Paul Gardner, retired manciple, was officially appointed to the Board on July 22nd 2024. 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 Irustee duties. One of the trustees receieS remuneration for his additional role of Farni Manager. The trustees n]eet on a bi-monthly or quarterly basis to progress the aims of the charity and to support the Pennyhooks staff, clients and progranune. During the pandemic the lrnstees continued to meet at least twice a month to help respond to a continually changing 5]tLtion. 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 has now gained her Masters degree, MEd Autlsm (Adults). Her extensive knowledge and experience of the difficulties and strengths of people with autism spectwm condition have proved invaluable, having worked with a wide range of children, young people and adults h0 are on the spectrum. STRUCTURE, GOVERNANCE AND MANAGEMENT Safeguarding Polic), Pennyhuok5 FaTtn Trust consideTr% that abuse is a violation of an individual's human and civil rights by any other person or p¢rsuns. The risk of being abus¢d depends upon the situation, the environment and the p¢ry)etrators, not on the behaviour of victims. Many incidents of abuse aTe CTiminal offences. Recognising that inequality, disadvantage and discrimination exist in society. we accept responsibility for ensuring that all our vulnerable students regardless of Iheir eihnie origin. religion. language, age, sexuality, gender or disability have ¢qual opportunity lo a¢¢¢ss s¢rvic¢s and infonnation d¢sign¢d to prot¢¢l them from abuse and to promofr their w¢lfar¢. Pennyhooks Farn] Trust has a robusi saf¢guarding wli¢y in pla¢¢ and as part of this ¢nsur¢s that all staff are DBS checked and receive regular training. The training given includes health and safety training to maintain standards in line with i)ur detailed health and safety and risk assessment policies. Risk management The trustees hai'e a duty to identify and review the risks lo which the charity is exposed and to ensure appropriate controls are in place to provide r¢asonable assurance against fraud and error. The charity reviews both internal and exiemal risk factors on a regular basis and these are discussed at the Irustees. meetings which are held quarterly or at a minimum bi- annually. An annual H&S rew'iew is held with our consuliant. All staff are trained and instructed to comn]unicate any risks or perceived risks to the charity in a timely manner so that necessary controls and procedures can be implemented io reduce or avoid exposure. The main Tisks 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 Sdents are assessed fully before they become part of the Trust's work and its activities. Page 11
PELNLNYHOOKS FARM TRUST REPORT OF THE TRLSTEES FOR THE YEAR ENDED 31ST AUGUST 2024 Happiness ai Work Page 12
PELNINYHOOKS FARM TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2024 REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 09931286 (England and Wales) Registered Charity number 1166812 Rcgistered office Appletree House Pennyhooks Farm Shrivenham Swindon SN6 8EX Trustees R J Hurford {re5igned 7.4.2025) Ms E M Masefield (appointed 7.4.2025) P E M Morris (resigned 26.2.2025) K Lender (resigned 25.3.2024) Mrs W Faux HM Forces Officcr Mrs E H Boyd Retired Chrlrtered Surveyor (appointed I1.12.2023) P C Gardner Retired Mancipl¢ (appointed 22.7.2024) Mrs K M Clare (appointed 3.3.2025) REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner Will Nixey Martin and Company 25 St Thomas Street Winchester Hampshire S023 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 29th May 2025 and signed on its behalf by: Hu stee Page 13
IIYDEPEINDENT EXAMlI%ER'S REPORT TO THE TRUSTEES OF PENYYHOOKS FARM TRUST Independent eiaminer's report to the trustees of Penn)'hooks Farm Trust ('the Company,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 st August 2024. Responsibilities and basis of report As the charity's trnstees 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 accounls 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 201 l Act,). In carying oul my examination I have followed the Directions given by the Charity Commission ullder Section 145(5) (b) of the 201 l 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 conf that l am qualified to undertake ihe examination because l am a member of the Institute of Chartered Accountants in England and Wale5, which 15 one of the listed bodies. I have completed my examination. I confirni that no matters have come to my atteT]tion in connection with the examination giving me cause to believe- accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or the aLLount.% do not aeLord with those recoTd%- or the aL¢ounts do not Lomply with the a¢Lounting requirements of Section 396 of the 2006 Act other than any TequiTen]ent that the accounts give a true fair vieiv which 1% not a mdtter consideTed a5 part of an ind¢p¢nd¢nt exaTnindtion; or the accoiints have not been prepared in accordance with the methods and principles of the StatemeTJt of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reponing Siandard applicable in the UK and Republic ofIreland {FRS 102)). I hav¢ no concerns and hav¢ ¢om¢ across no oth¢r maiters in connection with the ¢xaminalion to which attention should b¢ drawn in this r¢port in ord¢r io ¢nabl¢ a prop¢r und¢rsthnding of th¢ aOunts to be r¢a¢li¢d. Will Nixey The insiilute of arter1 A1)Untts in Fngland and Wales Martin and Company 25 St Thomas Street Winchester Hampshire S023 9HJ 29th May 2025 Page 14
PELNLNYHOOKS FARM TRUST STATEIIIENT OF FINANCI.4L ACTIVITIES INCORPORATING AN INCONIE AND EXPENDITURE ACCOUNT FOR"I'HE YLAR EP4DED 31ST AUGUST 2024 2024 Total funds 2023 Total nds Unrestricted fund Restricted fund Notes INCOME AIND ELNDOWMENTS FROM Donations and legacies 114,129 56,764 170,893 111,856 Charitable activitic5 Education of people with autis 315,693 315,693 273,184 Other trading activities Investment income 11,925 79 11,925 617 11,687 201 538 Total 499 128 396,928 EXPENDITURE ON Raising funds 31,053 4,833 35,886 33,333 Chxritable activities Education of people with autism 433,728 55,501 489,229 421,103 Total 464,781 60,334 525,115 454,436 NET INCOME/(EXPENDITURE} (22,955) (3,032) (25,987) (57,508) RECONCtLIATION OF FUNDS Total fund5" brought forward 24JlO 24,191 48,501 106,009 TOTAL FUNDS CARRIED FORWARD lJ55 21,159 22,514 48,501 The notes forni part of th¢s¢ financial statements Page 15
PELNLNYHOOKS FARM TRUST BALANCE SHEET 31ST AUGUST 2024 2024 Total funds 2023 Total nds Unrestricted fund Restricted fund Notes FIXED ASSETS Tangible assets 16,847 7,102 23.949 28,997 CURRENT ASSETS Stocks Debtors Cash at bank and in hand 12 13 3JOO 10,903 405 3,300 10,903 93,198 2,680 9,952 36,419 92,793 14,608 92,793 107,401 49,051 CREDITORS Amounts falling due within one year 14 (30,100) (78,736) (108,836) (29,547) NET CURRENT ASSETS 15,492) 14,057 1,435) 19,504 TOTAL ASSETS LESS CURRENT LIABILITIES lJ55 21.159 22,514 48,501 NET ASSETS 22,514 48,501 FUNDS Unr¢sirict¢d funds Restricted funds 17 lJ55 21,159 24,310 24,191 TOTAL FUNDS 22,514 48,501 The Lharitable Lompany is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 st August 2024. The members have not required the company io obiain an audit of its fmancial statements for ihe year ended 31 st August 2024 in accordance with Seclion 476 of the Companies Aci 2006. The trustees acknowledge their Tesponsibilities for (a) ensuring that the charilable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of ihe 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 Seciions 394 and 395 and which othenvise comply ivith the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. (b) The notes forni part of th¢s¢ financial statements Page 16 continued...
PELNNYHOOKS FARM TRUST BALANCE SHEET- continued 31ST AUGUST 2024 These financial siatements 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 Trnstees and authorised for issue on 29th May 2025 and were signed on its behalf by.. The notes forni part of thes¢ financial statements Page17
PELNLNYHOOKS FARM TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitsble 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 accounls in accordance with the Financial Reporting Siandard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the CoLnpanies Act 2006. The financial slatements have been prepared under the historical cost convention. Income All income is recognised in the Statement ofFinancial Activities once the charity has entitlement to the funds, it is probable that the income will be receiled and ihe amount can be measured reliably. Expenditure Liabilities are recognised a5 expendittLre a5 soon as there is a legal or constwctive obligation comrnitting the charity to that expenditure. it is probable ihat a transfer of economic benefits will be required in settlement and the amount of the oblj(Fation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost Telated to the category. Where costs cannot be directly attributcd to particular headings they have been allocated to activities on a basis consistent with the use of r¢50urLes. Support Costs Siippon costs are separnted from those directly Telaiing to the charitable activity. The support costs have been split between management, financial and governance cos. The management costs relate lo tl)e TageS of staff involved in the overall functioning of the Charily and nol those carrying oui the charilable aclivity work itself. As soine staff carry out mor¢ than one role it has b¢¢n d¢em¢d appropriat¢ to include 10 % of all staff costs as support costs by the Trust¢¢s. 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 Fixtures and fittings Office equipment 20 /0 on reducing balance 10/0 on cost 25/0 on cost Stoeks Stocks are valued at the lower of cost and net realisable value, after making due alloivance for obsolete and slow moving items. Taxation The charity is exempt from corporation tax on its charitable activities. Fund accounting Unrestricied funds can be used in accordance with the charitable objectives at the discretion of the trnstees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions ar15e when specified by the donor or when funds are raised for particular Testricted purposes. Further explanation of the nature and putpose of each fund is included in the notes to the financial statements. Hirc purcha5c and leasing commitmcnts Rentals paid under operating leases are charged to the StatemeDt of Financial Activities on a straight line basis ovcr Ihc pcriod of thc Icasc. Page 18 continued...
PELNLNYHOOKS FARM TRUST NOTES TO THE FINAP*CIAL STATEMEYTS- continued FOR THE YEAR ENDED 31ST AUGUST 2024 ACCOUNTING POLICIES - eontinued Pension costs and other post-retirement benefits The charilable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the SLqtement of Financial Activities in the period to which they relate. OTHER TRADING ACTIVITIES 2024 2023 Fundraising events Shop income Egg sales 1,868 8,565 1,254 10,606 1,319 11,687 INVESTMENT INCOME 2024 2023 Deposit account interest 617 201 CHARITABLE ACTIVITIES COSTS Direcl Costs (see note 5) Support costs (see not¢ 6) Totals Education of peopl¢ with autism 451,731 37,498 489,229 DIRECT COSTS OF CHARITABLE ACTIVITIES 2024 2023 Staff costs Rent and rates Insurance Light and heat Telephone and computer costs PostagJc and station¢ry Sundry expenses Pretnise maintenance costs Daily communal cleaning Sthdent activity costs Open day costs Food and rcfrcshmcnts Sub-contractors Livc8toek costs Travelling 320,503 25,200 16,005 11,505 1,689 640 4,876 6,145 15,787 2,089 1,624 3,749 30,987 10,539 393 243,407 25,200 14,505 18,051 1,554 501 1,350 9,166 15,787 2,564 825 1,960 29,912 9,936 451,731 374,718 Page 19 continued...
PELNLNYHOOKS FARM TRUST NOTES TO THE FINAP*CIAL STATEMEYTS- continued FOR THE YEAR ENDED 31ST AUGUST 2024 SUPPORT COSTS Governance costs Management Finance Totals Education of people with autism 30,502 996 6,000 37,498 Suppon cotsts. included in the above. are as follows- Management 2024 Educalion of p¢ople witli autism 2023 Total activities Wagcs and administration Professional fees Depreciation of tangible and heritage assets 14,261 11,192 5,049 31,173 2,690 5,265 30,502 39,128 Finance 2024 Education of people with autism 2023 Total activities Bank charges and interest 996 1,337 Governance costs 2024 Education of people with autism 2023 Total activities Accountancy fccs Independent ExatnineTS fee 5,160 840 5,100 820 6,000 5,920 Page 20 continued...
PELNLNYHOOKS FARM TRUST NOTES TO THE FINAP*CIAL STATEMEYTS- continued FOR THE YEAR ENDED 31ST AUGUST 2024 NET INCOMEI{EXPENDITURE) Net incomel(expenditure) is stated after chargingl(crediting)= Rent 24,000 Dcprcciation 5,048 Independent Examiners Fee 820 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 ivas Caled out under an employment contract. Trustee$, expenses There were no 31 st August 2023. trustees, expenses paid for the year ended 31st August2024 nor for the year ended STAFF COSTS The averag¢ monthly numb¢r of ¢mploye¢s during the y¢ar was as follows.. 2024 2023 Teaching staft Suppon siaff Administrative staff 14 13 20 18 No employees received emoluments in excess of £60,0(K). io. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unresiricted fimd Restri¢t¢d fund Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 109,855 2.001 111,856 Charitable activities Education ol-people with autism 273,184 273,184 Other Irading activities Investment income 11.687 94 11,687 201 107 Total 394,820 2,108 396,928 Page21 continued...
PELNLNYHOOKS FARM TRUST NOTES TO THE FINAP*CIAL STATEMEYTS- continued FOR THE YEAR ENDED 31ST AUGUST 2024 io. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted fund fund Tolal nds EXPEINDITURE ON Raising funds 33,333 33,333 Charitable activities Education of people with autism 397,087 24,016 421,103 Total 430,420 24,016 454,436 NET INCOIWIEI(EXPENDITURE) {35,600) (21,908) (57,508) RECONCtLIA TION OF FUNDS Total funds brouaht forward 59,910 46,099 106,009 TOTAL FUNDS CARRIED FORWARD 24.310 24,191 48,501 ii. TANGIBLE FIXED ASSETS Improvements lo property Fixtures Plant and machinery Office equipment fittings Totals COST At I st September 2023 and 31 st August 2024 33,209 11,516 7,584 2,171 54,480 DEPRECIATION At 1st September 2023 Charge for year IlJ62 3J21 7.159 873 5,078 759 1,884 95 25,483 5,048 At 31 sl August 2024 14,683 8,032 5,837 1,979 30,531 NET BOOK VALUE At 31 st August 2024 18,526 3,484 1,747 192 23,949 At 3 1st August 2023 21,847 4.357 2,506 287 28.997 Page 22 continued...
PELNLNYHOOKS FARM TRUST NOTES TO THE FINAP*CIAL STATEMEYTS- continued FOR THE YEAR ENDED 31ST AUGUST 2024 12. STOCKS 2024 2023 Stocks 3,300 2,680 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trad¢ dcbtors Prepayments and accrued income 10,403 500 9,452 500 10,903 9,952 14. CREDITORS: AMOUNTS FALLING DUE WtTHIN ONE YEAR 2024 2023 Bank loans and overdrafts (see note 15) Trade LreditOTS Sucidl security and oth¢T L¢S Accruiils (ind deferred inLom¢ 7,336 7,493 9,307 84,700 19,003 5,504 5,040 108,836 29,547 15. LOANS An analysis of the maturity of loans is given below: 2024 2023 Amounts falling due within one year on demand: Bank overdrafts 7,336 16. LEASING AGREEMENTS An operating lease exists for the property rented by the charity to carry out its activities. The annual rental charge is £24,OW and this is set to conlinue until sucb a lime that the property owner or Trustees wish for It to be reviewed. Page 23 continued...
PELNLNYHOOKS FARM TRUST NOTES TO THE FINAP*CIAL STATEMEYTS- continued FOR THE YEAR ENDED 31ST AUGUST 2024 17. MOVEMENT IN FUNDS Net movemenl in funds At 31.8.24 At 1.9.23 Unrestricted funds General fund 24JlO (22,955) 1,355 Restricted fund5 Restricted fund 24,191 (3,032) 21,159 TOTAL FUNDS 48,501 (25,987} 22,514 Net movement in funds, included in the above are as follows= Incoming re50UTces Resources expended Movement in funds Unrestricted funds General fund 441,826 (464,781) (22,955) Restricted fund5 Rcstrictcd fund 57J02 (60J34} (3,032) TOTAL FUNDS 499,128 525,115 25,987) Comparatives for movement in funds Net movement in funds Ai 31.8.23 At 1.9.22 Unrestricted funds GcncrLI1 fund 59,910 (35,600) 24.310 Restricted funds R¢stri¢l¢d fund 46,099 (21,908} 24.191 TOTAL FUNDS 106.009 {57,508} 48,501 Page 24 continued...
PELNLNYHOOKS FARM TRUST NOTES TO THE FINAP*CIAL STATEMEYTS- continued FOR THE YEAR ENDED 31ST AUGUST 2024 17. MOVEMENT IN FUNDS - continued Comparative net movement in funds, included in the above are as follows= Incoming resources Resources expended Movement in funds Unrestricted funds General fund 394,820 (430,420) (35,600) Restricted funds Restricted fund 2.108 (24,016) (21,908) TOTAL FUNDS 396,928 454,436} 57,508) A current year 12 months and prior year 12 months combined position is as follows.. Net movement in funds At 31.8.24 At 1.9.22 Unrestrictcd funds Gcncral fund 59,910 (58,555} 1.355 Restricted funds Restricted fund 46,099 (24,940) 21,159 TOTAL FUNDS 106,009 83,495} 22,514 A current year 12 tnonths and prior year 12 months combined net mol'etnent in nds, included in the above are as follows.. Incoming r¢sourc¢s Resources expcndcd Movement in funds Unrestricted funds General fiLnd 836,646 (895,201) (58,555) Restricted funds R¢stri¢t¢d fund 59,410 (84,350) (24,940) TOTAL FUNDS 896.056 979,551) 83,495) Page 25 continued...
PELNLNYHOOKS FARM TRUST NOTES TO THE FINAP*CIAL STATEMEYTS- continued FOR THE YEAR ENDED 31ST AUGUST 2024 18. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 3 Isi August 2024. 19. 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 il to be reviewed. Page 26
PELNLNYHOOKS FARM TRUST DETAILED ST.4TENIENT OF FINANCIAL.4CTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2024 2024 2023 IIYCOME AND ENDOWMENTS Donations and legacies Donations Gift aid 169,428 1,465 106,485 5,371 170,893 111,856 Other trading activities Fundraising events Shop in¢om¢ Egg salcs 1,868 8,565 1,254 10,606 11,925 11,687 Investment income Deposit account interest 617 201 Charitable activities Stud¢nt in¢otne 315,693 273.184 Total incoming resources 499,128 396,928 EXPENDITURE Other trading activities Livestock costs Cost of materials Labour costs 4,949 6,878 24,059 3,912 5,362 24,059 35,886 33,333 Charitable activities Wages Social security Pensions Rent and rates Insurance Light and heat Telephone and compuler costs Postage and slationery Sundry expenses Premise maintenance costs Daily communal cleaning Student actiN'ity costs caled fonvard 293,194 19,785 7,524 221,880 17,202 4,325 25,200 14,505 18,051 1,554 501 1,350 9,166 15,787 2,564 332,085 16,005 11,505 1,689 640 4,876 6,145 15,787 2,089 404,439 This pag¢ does not forni part of th¢ statutory financial slal¢m¢nts Page 27
PELNLNYHOOKS FARM TRUST DETAILED ST.4TENIENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2024 2024 2023 Charitable activitie5 Brought forward Open day costs Food and refreshments Sub-contractors Livestock costs Travelling 404,439 1,624 3,749 30,987 10,539 393 332,085 825 1.960 29,912 9,936 451,731 374,718 Support eosts Management Wag¢s and administration Professional fees Improvements to property Plant and machinery Fixtures and fittings Computer equipment 14,261 11,192 3,321 873 759 96 31,173 2,690 3,321 1,089 759 96 30,502 39,128 Finance Bank charges and interest 996 1,337 Governance Costs Accountancy fees Ind¢p¢nd¢nt Examiners f¢¢ 5,160 840 5,100 820 6,000 5,920 Total resourccs cxpcndcd 525 115 454,436 Lyet expenditure 25,987 57,508) This pag¢ does not forni part of th¢ statutory financial slal¢m¢nts Page 28