Rogistgred number: CE012563 Charlty number- 1176121 FOOD AND FARMING DISCOVERY TRUST (A Company Limited by Guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
FOOD AND FARMING DISCOVERY TRUST IA Company Limitgd by Guarantee) CONTENTS Page Refer8nce and Admlnlstrative Details of the Charlty, rts Trusteas and Advlsers Trustees. Report Independgnt Examlner's Roport Statemgnt of Financial Actlvltles Balance Sheet Notes to the Financlal Statements 10-18
FOOD AND FARMING DISCOVERY TRUST {A Company Llmltod by Guarantog) REFERENCE AND ADMINISTPATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023 Trustses Robert George Russell Carter Iresigned 14 December 20231 Gregory Stephen Smith (resigned 23 May 20241 Sleffan Daniel Anderson Griffiths, Chairman Ben Burgess Turner Poul Jorgen Hovesen Mark Alexander Nicholas Dr Catherine Mary Richards Phillip Hamilton Peter Ainsworth Iresigned 15 October 20241 Jeremy Laurence While Rachel Mary Courtney Quick Susan Mary FranS Penlinglon lappoinled 23 May 20231 Company registered number CE012563 Charity reglstered numb9r 1176121 Registered office Norfolk Showground Dereham Road Norwich Norfolk NR5 OTT Accountants MA Partners LLP 7 The Close Norwich Norfolk NR14DJ Page 1
FOOD AND FARMING DISCOVERY TRUST IA Company Limited by Guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees present their annual report togelhgr with the financial slalemenls of the Charity for the year 1 January 2023 10 31 December 2023. The Annual Report serves the purposes of both a Trustees, report and a directors. report under company law. The Trustees confirm that the Annual Report and financial slal8menls of the charitablo company comply with thg current slalutory requirements, the requirements of the charitable company's goveming document and the provisions of the Slalement of Recommended Practice ISORPI applicable to charities preparing their accounts in accordance with Ihg Financial Reporting Standard applicable in thg UK and Republic of Ireland IFRS1021 leffeclive 1 January 20151 as amended by Update Bulletins 1 and 2. Since the Charity qualffies as small under section 382 of the Companies Act 2006, the Strategic R8POrt required of medium and large companies under tho Companies Act 2006 Islralegi¢ Report and Directors, Report} Regulations 2013 has been omitted. Objectlves and actlvltig$ . Poli¢50s and objectlves The principal objeclivg of the Charity is lo advance the education of the public in Norfolk. in particular the education of children of school age, in food production, farming and countrysk%e education. in such ways as the Trustees may from time lo lime determine, ensuring the education is presented in a neutral and balanced manner. In setting objective5 and planning for activities. the Trustees have given due consideration lo general guidance publish8d by the Charity Commission relating lo public benefit, including the guidance 'Public bengfil.. running charity IPB21'. b. Strategigs for achieving objectivgs The Chartys strategy remains.. Providing activities lo educate about Farming in Norfolk and lo identify the best way to incorporate farming into the curriculum. Seeking to work more closely with schools and colleges in Norfolk. Providing educational conlenl for ovenls held by the Royal Norfolk Agricultural Association. c. Main actlyltles undartaken to further the Charlty's purpo$gs for the publ[¢ benefit The Trustees have had due regard to the Charity Commission's guidanc8 lo public benefit. The main actimlies undertaken lo further the Charitys purposes for the publi¢ benefrt are, through the provision of advice to further assist in the education of food and farming in Norfolk. Page 2
FOOD AND FARMING DISCOVERY TRUST IA Company Limited by Guaranteo) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Achlevemonts and pgrfomiance a. Maln achlevements of the Charlty Key projects in 2023 have included.. Learn about Lwestock. Leam about LNestock gNes pupils Ihg chance to experience farming firsthand and by enabling schools to care for a ewe and her18mblsl for a full school week. The project is aimed al giving children, ranging from Early Years lo Sixth Form, the chance to learn about animal husbandry and lo engago schools in food and farming education. Building on the success of 2022 the project was further expanded to allow 20 schools across Norfolk and Suffolk lo tak& part in this rewarding learning experience. This project was kindly sponsored by the Clan Trust. Discovery Zone. The Discovery Zone is the educational hub for the Royal Norfolk Show. It aims to highlKJht and promote the links btheen science, technology, engineering and maths, and food, farming and the counlrysida, lo leach children more about agricutture in their local area and where their food comes from. This year the theme was Norfolk Fruit and Veg. and the DI0very Zone Trail demonslralgd a range of locally grown Produ for school groups and members of the public to enjoy and learn from. The trail this year included a potytunnel from Place UK, a carrot harvest&r from Tompsetl Burgess Growers and even an insect Trap from G's Fresh. A number of brilliant organisations took part in the Discovery Zone delivering interactive content during the Show. including the Norwich Science Festival, the Papillon Project and Thornage Hall. The 2023 Royal Norfolk Show included the addition of a STEMM1science, technology, engineering, maths and medicine) village lo promote the skills and careers opportunities offered by a range of Norfolk-based businesses. The STEMM Village was curated by the Youth STEMM Awards and th8 delivery was supported by the the Charty and Royal Norfolk Agricultural Association. With over 9.000 school children in attendance across the days and extremely positive feedback from teachgrs, we are excited lo begin plans for 2024. The Discovery Zone was generously supported by a number of local charities and trusts. Leam about AgricUUre. 2023 saw Iwo pilot Sossions of our Learn about Agriculture Impact Days in partnership with the Papillon Project. The two Norfolk Secondary Schools that took part were the Hewett Academy and Thorpe Sl Andrew School, with over 50 students from Year 7 to Year 9 taking part. The days centered around presenting young people with the facts about food production systems, exploring the pros and cons of famiing and small scale growing and getting them to consid8r supermarkets and their role in the food chain. AgriTech Careers for a Sustainable Future. The AgriTech Careers for a Sustainable Future Event was run for the first lime in March 2023, in partnership with the SAW (Science, Art and Wrilingl Trust. and the John Innes Centre. The day aims to showcase local agrilech and innovation, whilst highlighting the rang8 of career options available. Through exci(ing talk5 and inleraclive activi118s led by reseaher5 and memberg of industry. the day offers Sixth Fomi students the opportunity lo find out more about thi8 fasl-growing sgclor. This year 43 year 12 students took part in the day from 7 local schools and colleges. We hope tha event will inspire students lo consider agrilech as a future careèr optK)n and highlight lo them the range of exciting opportunities within the 8eclor. Forest Gardens for Schools. The project is in partn8rship with the SAW Trust and the Gressenhall Environment Hub. Four schools are taking part this academic year. West Earlham Junior School. The Bawburgh Sehool, Swanlon Morley VC Primary School and St Mary's Community Primary School, Beelley. The John Innos Foundation has awarded us 8 further £10,000 lo continue the project for a second year. Page 3
FOOD AND FARMING DISCOVERY TRUST IA Company Limited by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Achievements and performance {contlnuedl Local events and aclivilies.. The Charity's Manager attended and provided education Content for extemal events including the NOlCh Science Festival, Open Farm Sunday and the Aylsham Show. Supporting bursaries and scholarships. The Charity has worked with the Royal Norfolk Agricultural Association and support8d their objective lo raise aspirations anLf enablg potential through the awarding of bursaries and scholarships (the Opportunities Fundl- The Charity liaised with the John Innes Foundation and supportgd the procgss to identify and sele¢l iwo rocipienls of the John Innes Foundation Undergraduate Bursary Award scheme for 2024 which funds tuition costs for selected undergraduates studying an agricultural subject. Employment of Trust Manager. In November 2023 Dr Shannon Woodhouse finished h$r employment as Trust Manager and returned to tho John Innes Centre to lake up a role as a trial programme manager. The Trustees were delighted lo have appointed Francos Roberson as Trust Manager with gffecl January 2024. b. Achlevements and perfomiance Thg impact of thè work of the Charity is recorded in tho recently published royal Norfolk Agricuttural Association's Strategic Aims and impact report. Copies of this report are available on request from the Association's office. Financial r9vIow a. Going concern After making appropriate enquiries. the Trustees have a reasonable expectation that the Charity has adequalo resources lo continue in operational existence for the foreseeable future. For this reason, Ihoy continue lo adopt the going concern basis in preparing the financial slalements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. b. Resorvos policy In the year ended 31 December 2023, the Charity made a deficf( of £27.162 {2022 - SluS of £21,599). The closing funds 81 the year end are £29.89012022- £57,052). The Trusl8es are aware of their responsibilities for implementing a resgrves policy. The unrestrieted reserves are held lo support administration and overhead costs. The intention is that this should be grown and maintained in surplus. Such unrestricted income is expendable al the discretion of the Trustees in the furtherance of the objectives of the Charity. c. Prlncipal fundlng During the year, the Charity received grant funding from Cty College Norwich, D.C. Moncrieff Charitable Trust Thg Aylsham Show, the John Innes Foundation. the John Jarrold Trust. and the Royal Norfolk Agricuttural Association. The Trustees are enormously grateful lo the Royal Norfolk Agricultural Association, and City College Norwich for providing grant funding to cover the costs of gmploying the Trust Manager. Page 4
FOOD AND FARMING DISCOVERY TRUST {A Company Umlted by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 structure, governance and management a. Constitution Food and Farming Discovery Trust is registered as a charitable company limited by guarantee and was sat up by a Trust deed. The Trust was constituted on 6 De¢gmbor 2017 in England and immediately commenced aclivilies. The Trustees are listed on Page 1. b. Methods of appolntment or èlectlon of Trustees The management of the Charty is the responsibility of the Trustees who are elected and co-opted under the lemis of the Twsl deed. In selecting individuals for appointment as Trustees, the charity Trustees must have regard to the skills, knowledge and experience needed for the effective administration of the Charity. c. Risk Management The Trustees have the overall responsibility fof ensuring that the charity has an appropriat8 system of controls, financial and otherwise. The systems of financial control are designed lo provide assurance against material misslalem6nt or loss. They include. Regular meetings of the Trustees at which the financial health of the charitable company is reported and discussed. Written policy as to the management of the Charity's funds by third parties. Financial procedures lo ensure the proper disbursement of monies owing by the Charity. The Trustees have reviewed major risks and established systems together wf(h appropriate monitoring procedures to mitigate them. The key risk controls used include.. Fomal agendas and minutes for all Committees and Board activty. Comprehensive strategic planning, budgeting and management accounting. Established organisational structure and lines of reporting. Clear aulhorisation and approval 1gV81s. Periodic reviews of policies and procedures. Page 5
FOOD AND FARMING DISCOVERY TRUST IA Company Llmited by Guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Statement of Trustees. r9sponsibilitlg$ The Trusleos (who are also the directors of the Charity for the purposes of company lawl are responsible for preparing the Trustees. Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practicel. Company law requires the Trustees lo prepar8 financial statements for each financial year. Under company law, the Trustees mu51 not approvg the financial slalements unless they are satisfied that they give a true and fair view of the slate of affairs of the Charty and of its incoming resources and application of resources, including ils income and axpendilure, for th81 period. In preparing these financial statements, the Trustees are required lo.. seled suitable accounting pol18$ and then apply them consistgntly., observe the methods and principles of the Charities SORP IFRS 102}', make judgments and accounting eslimale5 that are reasonable and prudent., state whglher applicable UK Accounting Standards IFRS 1021 have been followed, subject lo any material departures disclosed and explained in the financial slalements., prepare the financial slalements on the going concern basis unless il is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the Charitys transactions and disclose with reasonable accuracy al any lime the financial position of the Charity and enable them to ensure that the financial slalemenls comply with the Companies Act 2006. They are also responsible for safeguarding the assets Df the Charty and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on their behalf by.. KLLKJL Sleffan Daniel Anderson Griffrths (Chair of Trustees) Mark Alexander Nicholas Dale.. Page 6
FOOD AND FARMING DISCOVERY TRUST IA Company Llmltsd by Guaranlo91 INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Independont Examiner's Report to the Trustses of Food and Farn)Ing Discovery Trust {*he Charity'l I report lo the Charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2023. Responslbllltlos and Basi$ of Report As the Tru51ees of the Charity land ils directors for the purposes of company lawl you are responsible for thg preparation of the accounts in accordance with the requirements of the Companies Act 20061'lhe 2006 Acl'l. Having satisfied mysow that the accounts of the Charity 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 the Charity's accounts carried out under section 145 of the Charities A¢1 2011 I'lhe 2011 Act'l. In carrying out my examination I hav8 followed th8 Directions given by the Charity Commission under soction 145151{bl of the 2011 Act. Independent Examlnerfs Statement I hav8 completed my examination. I confimi that no matter5 have come to my attention in wnnection with the examination giving me cause lo believe: accounting records were not kept in iespecl of the Charity as required by section 386 of the 2006 Act., or the accounts do not accord with those records.. or the accounts do not Comply wf(h the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'lrue and fair, view which is not a matter considgred as part of an independent examination., or 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. I have no concerns and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. This report 15 made solely to the Charity's Trustees, as a body. in accordance with Part 4 of the Charf(ies (Accounts and Reports} Regulations 2008. My Work has been undertaken so that I might slalg to the Charitys Trustees those matters l am required lo slate lo them in an Independ8nl Examiner's Report and for no other purpose. To the fullest extent permitted by law. I do not accept or assume responsibility lo anyone other than the Charity and the Charitys Trustees as a body, for my work or for this report. Signed.. Dal8d.. 24 February 2025 Frank Shippam Bsc FCA DChA MA Partn8rs LLP Page 7
FOOD AND FARMING DISCOVERY TRUST IA Company Llmited by Guarante8) STATEMENT OF FINANCIAL ACTIVITIES IINCORPOFIATING INCOME AND EXPENDITURE ACCOUNT} FOR THE YEAR ENDED 31 DECEMBER 2023 Unre5trictgd funds 2023 Total funds 2023 rolal funds 2022 Note Income from: Donations and lega¢i8S Charitable aclrvitlgs 45,100 5,750 45.100 5,750 67,467 9, 125 Total income 50.850 50,850 76,592 Expenditure on: Charitable activities 78,012 78.012 54,993 Total gxpenditure 78,012 78,012 54,993 Net movement in funds 127.1821 127,1621 21,599 Reconclllation of funds.. Total funds brought forward N81 movement in funds 57,052 {27.1621 57,052 127.162} 35,453 21.599 Total fund$ carrled forward 29,890 29,890 57,052 The Statement of Financial Aclivi118s includes all gains and losses recognised in the year. The notes on pages 10 10 18 form part of these ftnancial slalements. Page 8
FOOD AND FARMING DISCOVERY TRUST IA Company Limited by Guarantee) REGISTERED NUMBER: CE012563 BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Curront assets Debtors 10 32.708 65. 768 32,708 65, 768 Cr8dilors'. amounts falling due wK(hin one 11 12,8181 (8, 716) Net current assets 29.890 57,052 Total assets loss currgnt liabilities 29,890 57.052 Total net assets 29,890 57,052 Charity funds UnreslTicled funds 12 29,890 57.052 Total funds 29.890 57,052 The Charity was enlilled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the company lo obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trusloes acknowledge their responsibilities fof complying wf(h the requirements of the Act wrth respect to accounting records and preparation of financial slalements. Th8 financial statements have been prepared in accordance with the provisions applicabl& to entitie$ subject to the small companies regimè. The finanaal statements were approved and authorised for issue by th8 Trustees and signed on their behalf by.. steffan Daniel Anderson Grffiths (Chair of Trusleesl Date.. Mark Alexander Nicholas Zl+ {( /LJ [,ILS Th& notes on pages 10 10 18 fomi part of these financial statemenly. Page 9
FOOD AND FARMING DISCOVERY TRUST IA Company Limlted by Guarantsel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 General Information The Food and Farming Discovery Trust is a charitable incorporated organisation, incorporated in tho UK. The registered address is Norfolk Showground, Dereham Road. Nolch NR5 OTT. Accounting pollcles 2.1 Basls of preparation of financlal statements The financial statements have been prepared in accordance with the Charrf(ies SORP IFRS 1021 Accounting and Reporting by Charities.. Slalgment of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20151, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. The Charty has elected lo apply all amendments to FRS 102, as set out in the Financial Reporting Council's triennial review published in December 2017, and included in Update Bulletin 2 to the Chariligs SORP IFRS 1021, prior lo mandatory adoption for accounting p8ri0ds beginning on or after 1 January 2019. The financial ststements are presented in sterling and rounded lo the nearest pound. Food and Famiing Discovery Trust meets the definition of a public benefit entity under FRS 102. Assets 8nd liabilities are initially recognised al historical cost or transaction value unless otherwise slated in the relevant accounting policy. 2.2 Going concern The Trustees have considered the level of funds al the year end and also considered the forecast income and expendrf(ure lo 31st December 2024 to be sufficient wrf(h the level of serveS for the Trust lo be able lo continue as a going wncern. 2.3 Income All income is recognised once the Charity has entillemonl to the income, il is probable that the income will be received and the amount of income receivable can b8 measured reliably. 2.4 Expendlture Expenditure is recognised once there is a legal or conslruclive obligation lo transfer 8conomic benefit to a third paty. f( is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measurod lIablY. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charitys objectives, 88 well as any 8850cialed support costs. All expondilure is inclusive of irrecoverable VAT. 2.5 Dobtors Trade and other debtors are recognised al the settlement amount after any trade discount offered. Prepayments are valued al the amount prepaid net of any trad& discounts due. Page10
FOOD AND FARMING DISCOVERY TRUST IA Company Llmltod by Guarantsel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollclos Icontlnuodl 2.6 Llabilitlo$ and provi$lon$ Liabilrties aTe recognised when there is an obligation al the Balance Sheet dale as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement Can be estimated reliably. Liabilities are recognised al the amount that the Charty anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services f( must provide. 2.7 Flnanclal Instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently mgasuretl al their settlement value. 2.8 Pon5ions The Charity operates a defingd contribution p8nsion scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year. 2.9 Fund accounting General funds are unreslricled funds which are available for use al the discretion of the Trusle8s in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Page11
FOOD AND FARMING DISCOVERY TRUST IA Company Limlted by Guaranteol NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Incomo from donations and legacies Unr8strl¢ted funds 2023 Total funds 2023 Total funds 2022 Donations 45,100 45,100 67,467 Income from charltable actlvltles Unrestricted funds 2023 Total funds 2023 Total funds 2022 School Events Other Educational Aclivilie5 4,750 1,000 4,750 1,000 3, 125 Total 2023 5,750 5,750 9. 125 Analysls of exp8ndlture on charltable actlvities Summary by fund type Unrgstrlcted fund5 2023 Total funds 2023 Total funds 2022 Charitable Activities 78,012 78,012 54,993 Page 12
FOOD AND FARMING DISCOVERY TRUST IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Analysis of axpenditura by activities ActIvIa$ undertaken directly 2023 Support costs 2023 Total funds 2023 Total funds 2022 charitab Activities 48,512 29,500 78,012 54,993 Total 2022 37,467 17,526 54.993 Analysls of dlrect costs Total funds 2023 Total funds 2022 Staff cos15 Event Costs & Resources Travel & Subsistence Trailer Maintenance 36,640 11,331 541 29,918 6,708 599 242 48,512 37,467 Analysls of support costs Page 13
FOOD AND FARMING DISCOVERY TRUST {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Analysis of gxpendlture by activities {¢ontlnuedl Analysls of 5UPPOrt costs Icontlnued} Total funds 2023 Total funds 2022 Website Devglopmenl Fund Raising Costs Insurance A)UntanCY Legal & Professional Fees Governance Costs Bank Charges Printing & Slalionery Advertising Sponsorship Sundries 21,834 3,560 1.356 1.140 900 391 9,152 2,510 1, 120 1, 580 7, 123 592 287 250 52 102 563 250 184 29,500 17,526 Independent examinerfs remuneration The independent examiner's remuneration amounts to an independent examiner fee of £1,740 (2022 - £1,080), and oth8r services of £90012022- £8881. Staff c05t$ 2023 2022 Wages and salaries Social security costs Contribution to defined contribution pension schemes 34,741 28,535 158 1,225 1,899 36,640 29,918 The average number of persons employed by the Charity during the year was as follows.. 2023 No. 2022 No. Trust Manager Page 14
FOOD AND FARMING DISCOVERY TRUST IA Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 staff costs Icontlnuedl No employee received remuneration amounting to more than £60,000 in either year. Trustees. romunerallon and expenses During the year, no Trustees received any remuneration or other beneff(s (2022- £NIL). During the year ended 31 December 2023, no Trustee expens8s have been incurred 12022- £NILI. 10. Debto 2023 2022 Due withln one yoar other debtors Prepayments and accrued income 32.299 65,405 363 32.708 65, 768 11. Croditors: Amounts falllng duo wlthln one year 2023 2022 Trade creditors other creditors Other taxation and social security Accrua15 and deferred income 1,420 4,654 1, 715 890 1,457 1,398 2,818 8,716 Page15
FOOD AND FARMING DISCOVERY TRUST IA Company Llmlt9d by Guarantsg) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 12. Statement of funds Statomont of funds - Current year Balance at 31 Decgmber 2023 Balance at 1 January 2023 Incomg Expondlture Unrostrlcted funds General Funds- all funds 57,052 50,850 178.0121 29,890 statement of funds - prior year Balance at 31 December 2022 Balance 81 f January 2022 Income Expenditur UnrDstrl¢lgd funds Gengral Funds- all funds 35,453 76,592 (54,993) 57,052 13. Summary of funds Summary offund8- currontyear Balance at 31 December 2023 Balance at 1 January 2023 Income Expenditure General funds 57,052 50.850 178.012) 29,890 Page 16
FOOD AND FARMING DISCOVERY TRUST A Company Llmltod by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 13. Summary of funds Icontlnugdl Summary of funds- prior year Balanca al 31 December 2022 Balance 81 l January 2022 Incom8 Expendilurg General ftjnds 35.453 76.592 (54,993) 57,052 14. Analysis of net assets between funds Analysls of ngt asset5 between funds - current year Unrestricted funds 2023 Totsl fund5 2023 Current asset5 Creditors due within one year 32,708 {2,818} 32,708 12,8181 Total 29,890 29.890 Analysis of net aSS8ts between funds - prior year UnreslricleLI funds 2022 Total funds 2022 Current assets Creditors due wf(hin one year 65. 768 (8. 716) 65, 768 (8, 716) Total 57,052 57.052 15. Penslon commltmonts The Charity operates a defined contribution pension sch8me. The assets of the scheme are held separately from those of the Charty in an independently administered fund. The pension cost charge represents contributions payable by the Charity lo the fund and amounted to £1.899 12022 - £1,225). Contributions tolalling £Nil 12022 - £1,715) were payable lo the fund at the balan sheet dale and are included in creditors. Page 17
FOOD AND FARMING DISCOVERY TRUST IA Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 16. Related party transactlons The Royal Norfolk Agricultural Association {RNAAI is a related party as Dr C M Richards is a Trustee of the RNAA and M A Nicholas MBE DL is tho Managing Director of the RNA4. During the year the RNAA recharged expensos lolalling £13,845 12022 £8,962) and ils subsidiary charged the Charity a trade stsnd fee for the Norfolk Famiing Confgrence of £Nil12022 - £4201. The RNAA made three grants lo the Charity in the year to 31 December 2023 lotalling £15,000 12022 one grant of £15,000) relating to staffing support. During the year the RNA4 commissioned activity from the Charty amounting lo £Nil 12022 £6,000). Included wf(hin other debtors a8 al 31 December 2023 is a balance of £32,29912022 - £65,405) owed by the RNAA. The RNAA also acted as an agent on behaw of the Charity during the year, wrf(h income being received lolalling £50,850 12022 £76,5921 and expenditure being incurred tolalling £83,955 12022 - 54,8951. through a designated bank account. Al 31 December 2023 a cash balancg was held on behaw of th8 Trust of £32,299 {2022- £65.4051. Builders Equipment Limited, whose ultimate parent undertaking is RG Carter Holdings Limrf(ed. company controlled by R G Cartar, has made available a trailer lo be usgd for educational activi(ies with unlimited use. There 8re no other related party transadions to disclose. Page 18