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2025-08-31-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 2025

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 2025

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 10
Independent Examiner's Report 11
Statement of Financial Activities 12
Balance Sheet 13 to 14
Cash Flow Statement 15
Notes to the Cash Flow Statement 16
Notes to the Financial Statements 17 to 26
Detailed Statement of Financial Activities 27 to 28

PENNYHOOKS FARM TRUST

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31ST AUGUST 2025

TRUSTEES R J Hurford (resigned 7.4.2025) Ms E M Masefield Autism Learning Centre Manager (appointed 7.4.2025) P E M Morris (resigned 26.2.2025) Mrs W Faux HM Forces Officer Mrs E H Boyd Retired Chartered Surveyor P C Gardner Retired Manciple Mrs K M Clare Retired teacher/educational consultant (appointed 3.3.2025) Mrs A C K Griffiths-Lambeth Company director (appointed 22.7.2025) REGISTERED OFFICE Appletree House Pennyhooks Farm Shrivenham Swindon SN6 8EX REGISTERED COMPANY 09931286 (England and Wales) NUMBER REGISTERED CHARITY 1166812 NUMBER INDEPENDENT EXAMINER Martin and Company 25 St Thomas Street Winchester Hampshire SO23 9HJ

Page 1

PENNYHOOKS FARM TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2025

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 2025. 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.

Schedule

The Charity recognises that people with autism have particular needs for support relating to their condition (high anxiety, sensory hypersensitivity, communication and social difficulties; movement and executive planning disturbances) and that Pennyhooks Farm enables an appropriate response to their need. This is facilitated through supported access to the seasonal rhythms, daily and predictable routines, space and green environment, purposeful activities and other aspects inherent in farm life.

The Charity's approach to its work is based on the ethos "love your neighbour as yourself" as summed up in Christ's teaching of the story of the good Samaritan. This articulates a compassionate and effective response to others who are in need.

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.

----- Start of picture text -----
Peaceful evening at Pennyhooks.
----- End of picture text -----

Page 2

PENNYHOOKS FARM TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2025

ACHIEVEMENTS 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 19-42 years. They each attend weekly as part of a specialist autism adapted work-training programme, for 1-5 days per week. We welcomed a new student in September, who is settling in well. We continue to receive several new referrals who we will try to accommodate when we are able to recruit more staff. Through some ring-fenced funds from different grants we have been able to increase hours for the woodwork teacher and another staff member as well as being able to recruit another part-time support worker. Of concern, however is ageing and health issues amongst the current staff and the difficulty in finding good staff with the 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.

----- Start of picture text -----
Woodwork teacher guiding a
student in finishing our new
stool.
These stools take a long
time to produce but are
proving popular with
customers.
----- End of picture text -----

Our 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 October we held our annual Harvest celebrations with the students, in the week when we cook and eat the food we have grown, which we all enjoyed very much.

----- Start of picture text -----
Potatoes, tomatoes, peas and beans grown, picked, cooked
and enjoyed together at our Harvest meal.
----- End of picture text -----

Page 3

PENNYHOOKS FARM TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2025

In November our new MP, Charlie Maynard visited with his team, to gain an understanding of our work. Our Christmas Fayre went ahead despite a concerning weather forecast for storms and high winds, we considered cancelling. The weather wasn't as bad as forecast and we had a busy turnout which generated sales of over £5,000. We had some excellent quality woodwork products and our reindeer were as popular as ever. We also sold photographic prints thanks to the generosity of renowned wildlife photographer, Paul Colley, whose photographs we also included in our calendar.

----- Start of picture text -----
Local honey produced from hives on the farm.
----- End of picture text -----

----- Start of picture text -----
Our Farm Manager, Woodwork Teacher and Patron sharing stories.
----- End of picture text -----

In January our new Hedge Planting project started, thanks to a grant from the RPA's Countryside Stewardship conservation based scheme. This provided a good learning activity for the students.

In May we held our annual Plant Sale which achieved sales of £3,000. 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.

Student watering plants in the greenhouse, in preparation for the Plant Sale.

Page 4

PENNYHOOKS FARM TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2025

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. Disappointingly, heavy 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.

----- Start of picture text -----
This was the first time that students demonstrated their skills at Open
Day – here using the shave horse.
Baking lots of cakes for visitors to enjoy.
----- End of picture text -----

During the year, our incumbent Farm Worker gradually stepped up to a Junior Farm Manager role, as part of our longer term succession plans for the Trust to take over the general management of the farm from the current manager who is already 75 years old. In addition we recruited 2 part-time helpers to support with the smaller animals.

----- Start of picture text -----
Our Junior Farm Manager feeding the cows at dusk
– hungry because of the drought.
----- End of picture text -----

Fund-raising continues 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 Trust to recruit a dedicated, professional Fund-raiser. At the beginning of 2024 we advertised this position for someone who could lead all our funding aspects for our accommodation capital project and help us navigate our way forward in resourcing our day to day running costs, as well as how we seek to connect with and challenge hearts and minds to improve the lives of people with complex autism.

Unfortunately, the person appointed resigned at the end of October due to home schooling commitments for her family. This led to another recruitment drive at the beginning of 2025, with a new candidate starting in March. During these interim periods we have continued to be supported by our Consultant Fund-raiser, who has been successful in generating unrestricted funding from a number of Trusts and Charity Funds. At Christmas (2024) we launched a Crowdfunding Appeal, which raised £20,000, which was also match funded by Aviva to the sum of £6,100.

Page 5

PENNYHOOKS FARM TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2025

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, conservation, baking, woodwork, tidying, craft and animal care.

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

----- Start of picture text -----
Our wildlife photographer setting up
underwater cameras in our brook, to
capture the minnows, crayfish and
anything else residing here.
----- End of picture text -----

In April pupils (aged 12-14), 2 groups from the Bloom Academy in Hong Kong visited the farm during the Easter break to carry out field studies of the Pennyhooks land, as part of their British 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, possibly from a Bronze Age Encampment.

A local First Aid and Outdoor Pursuits trainer brought 10 participants to the farm, for a weekend of training.

c) Public engagement:

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

In August the Farm hosted a local military wedding for the first time, on a beautiful Summer's day.

Beautiful day for a beautiful wedding at Pennyhooks – what splendid views.

Page 6

PENNYHOOKS FARM TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2025

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 our happy and successful Summer Open Day.

----- Start of picture text -----
After a hard day’s work, helping to get us ready for the Open
Day, these volunteers got to meet the goats.
----- End of picture text -----

2. Raising awareness and understanding of ASC:

Our Autism Centre Manager, Emma Masefield, completed her studies for her MEd into Autism, achieving a first for her special study into the benefits of Pennyhooks Farm, "In Their Own Space and Time". We continue to look at how to utilise the interest, and connect with people further, to help bring about helpful awareness and change in others understanding and approach to our students very particular needs and strengths.

We are contributors to the Cambridgeshire Autism Action Group who seek to increase awareness and opportunities 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 where we could and continued to review staffing options to accommodate and facilitate additional students.

Fundraising activities

The annual fundraising events generated just over £11,500 in sales and donations.

----- Start of picture text -----
A roe deer also enjoying the farm, caught on
camera by our photographer, Paul Colley.
----- End of picture text -----

FINANCIAL REVIEW Financial position

At 31st August 2025 the charity held funds of £60,398 of which £43,492 were restricted.

Page 7

PENNYHOOKS FARM TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2025

FINANCIAL REVIEW

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 to provide accommodation for students on site. Local Authority planning permission has been granted for this and 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. Oxford Architects are engaged to provide design options. A volunteer has developed a computerised project planner, to help us in all these processes.

----- Start of picture text -----
This plaque highlights 20 years at
Appletree House, supported by our
amazing donors.
Our plans for on site supported living
accommodation are gathering pace, as our
fundraiser sets out our Case for Support.
----- End of picture text -----

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

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

Recruitment and appointment of new trustees

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

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

Page 8

PENNYHOOKS FARM TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2025

In February Paul Morris retired by rotation as Chair of the Trustees and was succeeded by Kathleen (Kate) Clare, retired teacher/educational consultant, who was officially appointed to the Board on March 3rd 2025.

Richard Hurford also retired by rotation and Emma Masefield, Autism Learning Centre Manager, was officially appointed to the Board on April 7th 2025.

Amanda (Kate) Griffiths-Lambeth, company director, was officially appointed to the Board on July 22nd 2025.

Ken Bruce became our second Patron.

AGM with staff and Patron, Gordon Gatward, chaired by our Chair of Trustees, Kate Clare.

Page 9

PENNYHOOKS FARM TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Organisational structure and decision making

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

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

Emma Masefield continues to develop her role as Autism Centre Manager, especially following the increase in referrals. A Psychology and Special Educational Needs Graduate, Mrs Masefield has been working in the field of Autism and education since 1990 and has now gained 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.

Lydia Otter MBE remains as Founder and CEO.

Safeguarding Policy

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

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

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

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The 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 bi-annually. An annual H&S review is held with our consultant.

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

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

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 27th May 2026 and signed on its behalf by:

Mrs K M Clare - Trustee

Page 10

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 2025.

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

28th May 2026

Page 11

PENNYHOOKS FARM TRUST

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31ST AUGUST 2025

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
159,471
Charitable activities
5
Education of people with autism
319,225
Other trading activities
3
13,472
Investment income
4
21
Total
492,189
EXPENDITURE ON
Raising funds
6
36,094
Charitable activities
7
Education of people with autism
440,544
Total
476,638
NET INCOME/(EXPENDITURE)
15,551
RECONCILIATION OF FUNDS
Total funds brought forward
1,355
TOTAL FUNDS CARRIED FORWARD
16,906		 Restricted
fund
£
103,695
-
-
808
104,503
-
82,170
82,170
22,333
21,159
**43,492 **		 2025
Total
funds
£
263,166
319,225
13,472
829
596,692
36,094
522,714
558,808
37,884
22,514
60,398		 2024
Total
funds
£
170,893
315,693
11,925
617
499,128
35,886
489,229
525,115
(25,987)
48,501
22,514

The notes form part of these financial statements

Page 12

PENNYHOOKS FARM TRUST

BALANCE SHEET 31ST AUGUST 2025

Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
14
13,844
CURRENT ASSETS
Stocks
15
3,831
Debtors
16
20,832
Cash at bank and in hand
479
25,142
CREDITORS
Amounts falling due within one year
17
(22,080)
NET CURRENT ASSETS
3,062
TOTAL ASSETS LESS CURRENT
LIABILITIES
16,906
NET ASSETS
16,906
FUNDS
20
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
fund
£
5,682
-
-
79,850
79,850
(42,040)
37,810
43,492
**43,492 **		 2025
Total
funds
£
19,526
3,831
20,832
80,329
104,992
(64,120)
40,872
60,398
60,398
16,906
43,492
60,398		 2024
Total
funds
£
23,949
3,300
10,903
93,198
107,401
(108,836)
(1,435)
22,514
22,514
1,355
21,159
22,514

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2025 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 13

PENNYHOOKS FARM TRUST

BALANCE SHEET - continued 31ST AUGUST 2025

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 27th May 2026 and were signed on its behalf by:

K M Clare - Trustee

The notes form part of these financial statements

Page 14

PENNYHOOKS FARM TRUST

CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST AUGUST 2025

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash (used in)/provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash provided by investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
2
Cash and cash equivalents at the end of
the reporting period
2		 2025
£
(10,534)
(10,534)
(599)
829
230
(10,304)
85,862
75,558		 2024
£
48,826
48,826
-
617
617
49,443
36,419
85,862

The notes form part of these financial statements

Page 15

PENNYHOOKS FARM TRUST

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST AUGUST 2025

1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income/(expenditure) for the reporting period (as per the
Statement of Financial Activities)
Adjustments for:
Depreciation charges
Interest received
Increase in stocks
Increase in debtors
(Decrease)/increase in creditors
Net cash (used in)/provided by operations
2.
ANALYSIS OF CASH AND CASH EQUIVALENTS
Cash in hand
Notice deposits (less than 3 months)
Overdrafts included in bank loans and overdrafts falling due within one year
Total cash and cash equivalents
3.
ANALYSIS OF CHANGES IN NET FUNDS		 2025
£
37,884
5,021
(829)
(531)
(9,928)
(42,151)
(10,534)
2025
£
296
80,033
(4,771)
75,558		 2024
£
(25,987)
5,049
(617)
(620)
(952)
71,953
48,826
2024
£
210
92,988
(7,336)
85,862
At 1.9.24 Cash flow At 31.8.25
£ £ £
Net cash
Cash at bank and in hand 93,198 (12,869) 80,329
Bank overdraft (7,336) 2,565 (4,771)
**85,862 ** (10,304) 75,558
Total **85,862 ** (10,304) 75,558

The notes form part of these financial statements

Page 16

PENNYHOOKS FARM TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2025

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 2025

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. DONATIONS AND LEGACIES

Donations
Gift aid
3.
OTHER TRADING ACTIVITIES
Shop income
Egg sales
4.
INVESTMENT INCOME
Deposit account interest
5.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Student income
Education of people with autism		 2025
£
254,871
8,295
263,166
2025
£
12,145
1,327
13,472
2025
£
829
2025
£
319,225		 2024
£
169,428
1,465
170,893
2024
£
10,606
1,319
11,925
2024
£
617
2024
£
315,693

continued...

Page 18

PENNYHOOKS FARM TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2025

6. RAISING FUNDS

Other trading activities

Other trading activities
Livestock costs
Cost of materials
Labour costs		 2025
£
5,460
6,715
23,919
**36,094 **		 2024
£
4,949
6,878
24,059
35,886

7. CHARITABLE ACTIVITIES COSTS

7.
CHARITABLE ACTIVITIES COSTS
Education of people with autism
8.
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
Travelling		 Direct
Costs (see
note 8)
£
467,124		 Support
costs (see
note 9)
£
55,590
2025
£
355,560
25,200
17,148
9,689
3,872
305
1,720
16,362
16,099
1,784
855
3,100
966
14,201
263
467,124		 Totals
£
522,714
2024
£
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
451,731

continued...

Page 19

PENNYHOOKS FARM TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2025

9. SUPPORT COSTS

Management
£
Education of people with autism
45,946		 Governance
Finance
costs
£
£
1,436
8,208		 Totals
£
55,590

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

Management

2025 2024
Education
of people
with Total
autism activities
£ £
Wages and administration 18,172 14,261
Professional fees 22,753 11,192
Depreciation of tangible and heritage assets 5,021 5,049
45,946 30,502
Finance
2025 2024
Education
of people
with Total
autism activities
£ £
Bank charges and interest 1,436 996
Governance costs
2025 2024
Education
of people
with Total
autism activities
£ £
Accountancy fees 7,052 5,160
Independent Examiners fee 1,156 840
8,208 6,000

continued...

Page 20

PENNYHOOKS FARM TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2025

10. NET INCOME/(EXPENDITURE)

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

Rent
Depreciation
Independent Examiners Fee		 £
24,000
5,021
1,156

11. TRUSTEES' REMUNERATION AND BENEFITS

The trustees did not receive any remuneration or benefits for their roles during the year. R Hurford, who resigned as trustee during the year, was employed by the charity as teaching and support staff and was paid a total of £30,000 in the year. E Masefield, who became a trustee during the year, was employed by the charity as the autism learning centre manager and was paid a total of £38,405 in the year. These roles were carried out independently of the trustee responsibilities and were carried out under an employment contract.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31st August 2025 nor for the year ended 31st August 2024.

12. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 2025
£
345,211
22,308
6,213
**373,732 **		 2024
£
307,455
19,785
7,524
334,764

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

Teaching staff
Support staff
Administrative staff		 2025
4
16
2
22		 2024
4
14
2
20

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

continued...

Page 21

PENNYHOOKS FARM TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2025

13.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
114,129
Charitable activities
Education of people with autism
315,693
Other trading activities
11,925
Investment income
79
Total
441,826
EXPENDITURE ON
Raising funds
31,053
Charitable activities
Education of people with autism
433,728
Total
464,781
NET INCOME/(EXPENDITURE)
(22,955)
RECONCILIATION OF FUNDS
Total funds brought forward
24,310
TOTAL FUNDS CARRIED FORWARD
1,355		 Restricted
fund
£
56,764
-
-
538
57,302
4,833
55,501
60,334
(3,032)
24,191
21,159		 Total
funds
£
170,893
315,693
11,925
617
499,128
35,886
489,229
525,115
(25,987)
48,501
22,514

continued...

Page 22

PENNYHOOKS FARM TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2025

14.
TANGIBLE FIXED ASSETS
Improvements
to
Plant and
property
machinery
£
£
COST
At 1st September 2024
33,209
11,516
Additions
-
-
At 31st August 2025
33,209
11,516
DEPRECIATION
At 1st September 2024
14,683
8,032
Charge for year
3,321
696
At 31st August 2025
18,004
8,728
NET BOOK VALUE
At 31st August 2025
15,205
2,788
At 31st August 2024
18,526
3,484
15.
STOCKS
Stocks
16.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Prepayments and accrued income		 Fixtures
and
Office
fittings
equipment
£
£
7,584
2,171
-
599
7,584
2,770
5,837
1,979
759
246
6,596
2,225
988
545
1,747
192
2025
£
3,831

2025
£
20,332
500
**20,832 **		 Totals
£
54,480
599
55,079
30,531
5,022
35,553
19,526
23,949
2024
£
3,300
2024
£
10,403
500
10,903

continued...

Page 23

PENNYHOOKS FARM TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2025

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 18)
Trade creditors
Social security and other taxes
Accruals and deferred income		 2025
£
4,771
742
9,516
49,091
64,120		 2024
£
7,336
7,493
9,307
84,700
108,836

18. LOANS

An analysis of the maturity of loans is given below:

Amounts falling due within one year on demand:
Bank overdrafts		 2025
£
**4,771 **		 2024
£
7,336

19. 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.

20. MOVEMENT IN FUNDS

MOVEMENT IN FUNDS
Net
movement At
At 1.9.24 in funds 31.8.25
£ £ £
Unrestricted funds
General fund 1,355 15,551 16,906
Restricted funds
Restricted fund 21,159 22,333 43,492
TOTAL FUNDS 22,514 **37,884 ** 60,398

continued...

Page 24

PENNYHOOKS FARM TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2025

20. MOVEMENT IN FUNDS - continued

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

Incoming
resources
£
Unrestricted funds
General fund
492,189
Restricted funds
Restricted fund
104,503
TOTAL FUNDS
596,692
Comparatives for movement in funds
At 1.9.23
£
Unrestricted funds
General fund
24,310
Restricted funds
Restricted fund
24,191
TOTAL FUNDS
48,501
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
441,826
Restricted funds
Restricted fund
57,302
TOTAL FUNDS
499,128		 Resources
Movement
expended
in funds
£
£
(476,638)
15,551
(82,170)
22,333
(558,808)
37,884
Net
movement
At
in funds
31.8.24
£
£
(22,955)
1,355
(3,032)
21,159
(25,987)
22,514
Resources
Movement
expended
in funds
£
£
(464,781)
(22,955)
(60,334)
(3,032)
(525,115)
(25,987)

continued...

Page 25

PENNYHOOKS FARM TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2025

20. MOVEMENT IN FUNDS - continued

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

Net
movement At
At 1.9.23 in funds 31.8.25
£ £ £
Unrestricted funds
General fund 24,310 (7,404) 16,906
Restricted funds
Restricted fund 24,191 19,301 43,492
TOTAL FUNDS 48,501 11,897 60,398

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

Incoming
resources
£
Unrestricted funds
General fund
934,015
Restricted funds
Restricted fund
161,805
TOTAL FUNDS
1,095,820
(1		 Resources
Movement
expended
in funds
£
£
(941,419)
(7,404)
(142,504)
19,301
,083,923)
11,897

21. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31st August 2025.

22. 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 26

PENNYHOOKS FARM TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2025

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Gift aid
Other trading activities
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
Student activity costs
Open day costs
Carried forward		 2025
£
254,871
8,295
263,166
12,145
1,327
13,472
829
319,225
596,692
5,460
6,715
23,919
36,094
327,039
22,308
6,213
25,200
17,148
9,689
3,872
305
1,720
16,362
16,099
1,784
855
448,594		 2024
£
169,428
1,465
170,893
10,606
1,319
11,925
617
315,693
499,128
4,949
6,878
24,059
35,886
293,194
19,785
7,524
25,200
16,005
11,505
1,689
640
4,876
6,145
15,787
2,089
1,624
406,063

This page does not form part of the statutory financial statements

Page 27

PENNYHOOKS FARM TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2025

Charitable activities
Brought forward
Food and refreshments
Sub-contractors
Livestock costs
Travelling
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 income/(expenditure)		 2025
£
448,594
3,100
966
14,201
263
467,124
18,172
22,753
3,321
696
759
245
45,946
1,436
7,052
1,156
8,208
558,808
**37,884 **		 2024
£
406,063
3,749
30,987
10,539
393
451,731
14,261
11,192
3,321
873
759
96
30,502
996
5,160
840
6,000
525,115
(25,987)

This page does not form part of the statutory financial statements

Page 28