Registered number.. CE012563 Charity number: 1176121 FOOD AND FARMING DISCOVERY TRUST (A Company Limited by Guarantee) UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
FOOD AND FARMING DISCOVERY TRUST {A Company Limlted by Guarantee) CONTENTS Page Reference and Admlnlstratlve Detalls of the Charlty. Its Tmstees and Advlsers Trustegs. Roport Independent Examlnees Report Statement of Financial Activities Balance Sheet Notes to tho Financial Statements 10-18
FOOD AND FARMING DISCOVERY TRUST {A Company Limlted by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees Gregory Stephen Smith (resigned 23 May 2024} Steffan Daniel Anderson Griffilhs. Chairman Ben Burqess Tumer Iresiqned 16 October 2024) Poul Jorgen Hovesen (resigned 16 October 2024} Mark Alexander Nicholas Dr Catherine Mary Richards Phillip Hamilton Peter M'nsworth {resigned 15 October 20241 Jeremy Laurence White Rachel Mary Courtney Quick Susan Mary Frances Penlington ice Charlotte Saunders (appointed 22 January 20251 Jordan Alexander Sharman {appointed 22 January 20251 Company reglstored number CE012563 Charlty r•glster•d numb•r 1176121 Rogl$tor•d offl¢• Norfolk Showground Oereham Road Norwich Norfolk NR50 Accountants MA Partners LLP 7 The Close Norwich Norfolk NR1 4DJ
FOOD AND FARMING DISCOVERY TRUST {A Company Limlted by Guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their annual report together with the financial statements of the Charity for the year 1 January 2024 to 31 December 2024. The Annual Report serves the purposes of both a Trustees. report and a directors. report under company law. The Trustees confimi that Ihe Annual Report and financial statements of the charitable company comply with the current stalutory requirements, the requirements of the charitable company's goveming document and the provisions of the Statement of Recommended Practice ISORP} applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS102) (effective 1 January 2019). Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors, Report) Regulations 2013 has been omitted. Objectlves and activltles a. Pollcles and obJectlves The principal objective 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. famiing and countryside education, in such ways as the Trustees may from time to time determine, ensuring the education is presented in a neutral and balanced manner. In setting objectives and planning for activities. the Trustees have given due consideration lo general guidance published by the Charity Commission relating lo public benefit. including the guidance 'Public benefit.. running charity IPB21'. b. Strategles for achievlng objectives The Charitys strategy remains.. Providing activities lo educate about Famiing in Norfolk and to identify the best way to incorporate f8rming into the curriculum. Seeking lo work more closely with schools and colleges in Norfolk. Providing educational ¢ontenl for events held by the Royal Norfolk Agricultural Association. ¢. Main activities undertaken to further the Charity's purposes for the public benefit The Trustees have had due regard to the Charity Commission's guidance to public benefit. The rnain activities undertaken lo further the Charity's purposes for the public benefit are. through the provision of advice to further assist in the education of food and faffliing in Norfolk.
FOOD AND FARMING DISCOVERY TRUST {A Company Limlted by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achievements and pgrfonnance a. Main achievements of the Charity Key projects in 2024 have included- Learn about Livestock. Learn about Livestock gives pupils the thance to experience famiing firsthand and by enabling schools lo care for a ewe and her lamblsl for a full school week. The project is aimed al giving children, ranging from Earfy Years to Sixth Form, Ihe chance to leam about animal husbandry and lo engage schools in food and farming education. Due to livestock movement restrictions implemented by APHA, only 14 schools were able to participate. This project was kindly sponsored by the Clan Trust. Discovery Zone. The Discovery Zone is the educational hub for the Royal Norfolk Show. 11 aims lo highlight and promote the links between science, technology. engineering and maths, and food, famiing and the countryside, lo leach children more about agriculture in their local area and where their food comes from. This year the theme was Sugarbeel, and the Discovery Zone Trail demonslraled the lifecycle of Sugarbeel, from initial planlalion lo hatvesling, for school groups and members of Ihe public lo enjoy and learn from. The trail this year included rhizolron, a tractor and drill provided by Ben Burgess. a Sugarbeet harvester kindly provided by D H Barnes and a c¢)w and calf provided by Thomage Hall. A number of brilliant organisalions took part in the Discovery Zone delivering interactive content during the Show. including Thomage Hall and the British Beet Research Organisalion IBBROI. With over 12,000 school and home educated children in attendance across the two days and extremely positive feedback from teachers, we are excited to begin plans for 2025. The Discovery Zone was generously supported by a number of local charities and Irusls. AgriTech Careers for a Sustsinable Future. The AgriTech Careers for a Sustainable Future Event was run for the second lime in March 2024, in partnership with the SAW (Science, Art and Writing) Trust, and the John Innes Cenlre. The day aims to showcase local agrilech and innovation, whilst highlighting the range of career options 8V8ilable. Through exciting 181ks and interactive 8Ctivities led by researchers and members of industry, the day offers Sixth Form students the opportunity to find out more about this f85t-growing sector. This year 48 year 12 students look part in the day from 711)cal schools and colleges. We hope the event will inspire students lo consider agrilech 85 a future career option and highlight to them the range of exciting opportunities within the sector. Exploring Food & Farrning. The pilot event took pla on August 2024 at Easton College. It is a hands-on experience day for students aged 13, to leam hands on practical farming skills including lamb weighing, tractor driving and soil sampling. Students also learnt about a number of agro-ecological farming practices and took a trip lo a local butcher to rnake their own sausages and burgers. The airn of the day is lo build skills and onfidence in students who would like lo leam more about farming but do not have an opportLJnity to gain practical skills before attending college. We hope to run more of these days in the future to develop in depth skills programs as well as general inlr(KJuctory skills days. Agriculture Unlocked. In September we hosted our first in sixth-form conference al East Norfolk Sixth Form College. The day featured a number of speakers from various areas of agriculture, as well as 10 stands from a selertion of related agricultural organisab"ons, lo highlight the breadth of careers available within the wider farming sector. This event also attracted high sth(xil students from other local schools. and overall interacted with just under 2.000 students. The day also featured tasting of local produ and a Iraclor on display for students lo inleracl with. Funding is sought to duplicate this event al a sixth form in South Norfolk for 2025, with the long temi aim of also having conferen$ in North and West Norfolk.
FOOD AND FARMING DISCOVERY TRUST {A Company Limlted by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achievements and pgrfonnance Icontinuedl Food Security Conferen. In November we launched our first annual Food Secunty Conference, a free event for sixth form students across Norfolk. We welcomed eight speakers lo cover topics such as water & land use management, imports, exports & food standards, soil heallh and food waste. We have received fantastic feedback from students, teachers and speakers, and we IcN)k forward lo hosting this again in 2025. Extemal events. Attended external events induding Norwich Science Festival, Open Farm Sunday and Aylsham Show. Employment of Trust Manager. In January 2024 Frances Roberson l(N)k over the role of Trust Manager from Dr Shannon Woodhouse who left in November 2023. Funding required for the post continues lo be provided by the Royal Norfolk Agricultural Association, City College Norwich and the Clan Trust. b. Achlevements and perfomiance The impact of the work of the Charity is recorded in the recently published royal Norfolk Agricultural Association's Strategic Aims and impact report. Copies of this report are available on request from the Association's office. Flnanclal revlew a. Golng concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate reSoUrS lo continue in operation81 existence for the foreseeable future. For this reason, they continue lo adopt the going concem basis in preparing the financi81 statements. Further details regarding the adopts'on of the going concem basis can be found in the accounting policies. b. Resèrves policy In the year ended 31 December 2024, the Charity made a deficit of £6,065 {2023 - su@lus of £27, 1621. The closing funds at the year end are £23,82512023- £29.890). The Trustees are aware of their responsibilities for implernenting a reserves policy. The unrestricted reserves are held lo support administration and overhead (x)sts. The intention is that this should be grown and maintained in surplus. Such unrestricted income is expendable at the discretion of the Trustees in the furtherance of the objectives of the Charity. . Principal funding During the year, the Charity received grant funding from the Clan Trust, The Thomas Franks Foundation, D.C. Moncrieff Charitable Trust, The Aylsham Show. and the Royal Norfolk Agricultural Assoryation. The Trustees are enomiously grateful to the Royal Norfolk Agricultural Asswiation, and City College Norwith for providing grant funding lo cover the cosls of employing Ihe Trust Manager.
FOOD AND FARMING DISCOVERY TRUST {A Company Limlted by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Structure. govornance and management Constitution Food and Farming Discovery Trust is registered as a charitable company limited by guarantee and was set up by a Trust deed. The Trust was consliluted on 6 December 2017 in England and immediately commenced activities. The Trustees are listed on Page 1. b. Methods of appolntment or electlon of Trustees The management of the Charity is the responsibility of the Trustees %tho are elected and co-opted under the terms of the Trust deed. In selecting individuals for appointment as Tnjslees, the charity Trustees must have regard to the skills, knowledge and experience needed for the effective administration of the Chanty. c. Rlsk Management The Trustees have the overall responsibility for ensuring that the charity has an appropriate system of controls, financial and olhervlise. The systems of financial control are designed lo provide assurance against materi81 misstatement or loss. They include: Regular meetings of the Tnjslees 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 with appropriate monitoring procedures to mibgate them. The key risk controls used include.. Form81 agendas and minutes for 811 Committees and Board activity. Comprehensive strategic planning, budgeting and managernenl a¢¢ounting. Established organisalional structure and lines of rePO.ng. Clear aulhorisalion and approval levels. Periodic reviews of policies and proceduTrs.
FOOD AND FARMING DISCOVERY TRUST {A Company Limlted by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Statemont of Trustees. responsibilities The Trustees (who are also the directors of the Charity for the purposes of company lawl are responsible for preparing the Trustees. Report and the financial stslements in accordance with applicable law and United Kingdom Accountsng Standards (United Kingdom Generally Accepled Accountsng Practice}. Company law requires the Twstees lo prepare financial slatements for each financial . Under company law, the Trustees musl not approve the financial slalements unless they are satisfied that they give a true and fair view of the slate of affairs of the Charity and of its incoming resources and application of resources, including ils income and expenditure, for that period. In preparing these financial slatemenls, the Trustees are required lo: select suitable accounting policies and then apply them consistently., observe the methods and pnnciples of the Charities SORP IFRS 1021.. make judgments and accounting eslim81es that are reasonable and prudent., slate whether applicable UK Accounting Standards {FRS 1021 have been followed. $ubje¢l to any material departures disclosed and explained in the financial statements.. prepare the financial stalemenls on the going concem basis unless il is inappropriate to presume that th8 Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the Charity's transactions and disclose with reasonable accuracy at any lime the financial position of the Charity and enable them lo ensure that the financial stslements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Chanty 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.. Steffan Daniel Anderson Griffiths {Chair of Trustees) Date.. 30 October 2025 Mark Alexander Nicholas
FOOD AND FARMING DISCOVERY TRUST {A Company Limlted by Guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDEO 31 DECEMBER 2024 Independent Examlner's Report to the Trustees of Food and Familng Dlscovery Trust {'the Charlty.) I report lo the Charity Trustees on my examination of the accnunts of the Charity for the year ended 31 December 2024. Responslbllltlès and Basls of Report As the Trustees of the Charity land its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirernenls of the Companies Act 20061'lhe 2006 A¢t'l. Having satisfied myself 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 Ihe Charities Acl 2011 I'lhe 2011 Acl'l. In carrying out my examination I have followed the Directsons given by the Charity Commission under section 14515llbl of the 2011 Act. Indepgndent Exarnlner's Statement I have completed my examination. I confirm that no matters hav8 come to my attention in connection with th8 examination giving me cause lo believe: accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act., or the accounts do not accord wlh those records; or 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 'lrue and fairf view which is not a matter considered as part of an independent examination., or Ihe 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 to which attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. This report is made solely lo the Charivs Trustees, as a body. in accordance with Part 4 of the Charities {Accounls and Reports) Regulations 2008. My work has been undertaken so that I might slate lo the Charity's Trustees those matters l am required lo slate to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law. I do nol accept or assume responsibility lo anyone other than the Charity and the Charity's Tnjstees as a body, for my work or for this report. Signed.. Daled.. 31 O¢lobeT 2025 Frank Shippam Bsc FCA DChA MA Partnors LLP
FOOD AND FARMING DISCOVERY TRUST {A Company Limlted by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted funds 2024 Total funds 2024 Total funds 2023 Note Incomg from: Donations and legacies Charitable activities 54.134 3.021 54.134 3.021 45,700 5, 750 Total Income 57.155 57.155 50,850 Expenditure on: Charitable activities 63.220 63.220 78,012 Totsl expendlture 63,220 63,220 78,012 Net movement In funds (6.065) {6.0651 (27, 162) Reconclllatlon of funds: Totsl funds brought forward Net movement in funds 29,890 (6.065) 29,890 {6.065) 57,052 (2T, 762) Total funds ¢arri8d forward 23,825 23,825 29,890 The Statement of Financial Activities indudes all gains and losses recognised in the year. The notes on pages 10 to 18 form part of these financial statements.
FOOD AND FARMING DISCOVERY TRUST {A Company Limited by Guarantee) REGISTERED NUMBER: CE012563 BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Note Current assets Debtors 10 28,163 32, T08 28,163 32, 708 Current Ilabllltl•$ Creditors.. amounts falling due within one year 11 {4.3381 (2,878) Net currant assets 23.825 29,890 Totsl ass•t$ l•s$ ¢urront Ilabllltles 23,825 29,890 Total net assets 23.825 29,890 Charlty fund$ Unrestricted funds 12 23,825 29,890 Total funds 23.825 29,890 The Charity was entitled lo exemption from audit under section 477 of the Companies Act 2006. The members have not required the company to obtsin an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect lo accounting records and preparation of fin8nci81 s18tements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were 8pproved and authorised for issue by the Trustees and signed on their behaK by.. Steffan Daniel Anderson Griffiths {Chair of Trustees) Date.. 30 October 2025 Mark Alexander Nicholas The notes on pages 10 to 18 fom) p8rt of these ffinancial statements.
FOOD AND FARMING DISCOVERY TRUST {A Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 General Infomiatlon The Food and Famiing Discovery Trust is a charitsble incorporated org8nisalion, incorporated in the UK. The registered address is Norfolk Showground. Dereham Road. Norwich NR5 OTh. Accountlng pollcles 2.1 Basls of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP IFRS 1021 - Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 J8nu8ry 20151. the Financial Reporting Stsndard applicable in the UK and Republic of Ireland {FRS 1021 and the Companies Act 2006. Food and Farming Oiscovery Trust meets the definition of a public benefit enlily under FRS 102. Assets and liabilities are initially re¢J)gnised at historical cost or transaction value unless otherwise stsled in the relevant accounting policy. 2.2 Golng concem The Trustees have considered the level of funds al the year end and also considered the forecast in¢ome and expenditure to 31 Oeeember 2026 to be suffi¢ienl with the level of reserves for the Trust lo be able to continue a$ a going concem. 2.3 In¢omo All income is recognised On the Charity has enlillemenl lo the income, it is probable that th& in¢orne will be received and the amount of income receivable can be measured reliably. 2.4 Expgndituro Expenditure is recognised once there is a legal or constructive obligation lo transfer economic benefit lo a third party, il is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. 2.5 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued al the amount prepaid net of any Irade discounts due.
FOOD AND FARMING DISCOVERY TRUST {A Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcles {contSnued) 2.6 Llabllltles and provlslons Liabilities are recognised when there is an obligation al the Ba18nce Sheet dale as a result of a past event, il is probable that a transfer of economic benefit will be required in settlement. and the amount of the settlement can be eslimaled reliably. Liabilities are recognised at the amount that the Charity anti¢ipate$ it will pay lo settle the debt or the amount il has received as advanced payments for the goods or services il musl provide. 2.7 Flnan¢Sal Instruments The Charity only has financial assets and financial liabilities of a kind Ihat qualify as basic financial inslrumenls. 8asic financial inslnjmenls are initially CogniSed at transaction value and subsequently measured at their settlement value. 2.8 Penslons The Charity operal8s a defined conlribulion pension schem& and the pension charge represents th8 amounts payable by the Charity to the fund ID respect of the year. 2.9 Fund accountlng General funds are unrestTiCted funds which are available for use al the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
FOOD AND FARMING DISCOVERY TRUST {A Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Income from donatlons and legatles Unrestrlcted funds 2024 Total funds 2024 Tol81 funds 2023 Donations 54,134 $4,134 45,100 To1812023 45,100 45,100 Incomg from charftable actlvltles Unrestrlcted funds 2024 Total funds 2024 Total lunds 2023 School Events 3,000 3,000 4, 750 1,000 Other Educational Activities Income from charitable activities- Other Income 21 21 Total 2024 3.021 3,021 5, 750 Total 2023 5, 750 5, T50 Analysls of expendlture on charltable actlvltles Summary by fund type Unrestrlcted funds 2024 Total 2024 To181 2023 Charitable Activities 63,220 63,220 78,012 Tot812023 78,012 78,012
FOOD AND FARMING DISCOVERY TRUST {A Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysls of expendlture by attlvltles Actlvitles ndertaken directly 2024 Support costs 2024 Total funds 2024 To181 funds 2023 Charitable Activities 46,706 16,514 63,220 78,012 Total 2023 48.512 29.500 78,012 Analysls of dlrect cost8 Total funds 2024 Tol81 funds 2023 Staff Costs Event Costs & Resources Travel & Subsistence Trailer Maintenance Subscriptions & Donations 39,188 6,175 1,236 28 79 36,640 71,331 541 46,706 48,512
FOOD AND FARMING DISCOVERY TRUST {A Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysls of expendlture by attlvltles Icontlnuedl Analysls of support costs Total funds 2024 Tot81 funds 2023 Website Development Fund Raising Costs Insurance Accountancy Legal & Professional Fees Governance Costs Bank Charges Printing & Stationery Sundries 7,300 4,720 1,432 1,080 869 436 197 23 457 21,834 3,560 1,356 7.140 900 391 267 52 16,514 29,500 Independent examlnerfs remuneratlon The independent examinerfs remuneration amounts to an independent examiner fee of £1,080 (2023 - £1, 740), and payroll services of £581 (2023- £9(1. staff costs 2024 2023 Wages and salaries Contribution to defined contribution pension schemes 37,500 1,688 34,741 1,899 39,188 36,640 The average number of persons employed by Ihe Charity during the year was as follows- 2024 No. 2023 No. Trust Manager
FOOD AND FARMING DISCOVERY TRUST {A Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Staff costs {contlnuedl No employee received remuneration amounting to more than £80.0 in either year. Trusteos. remunoration and expenses During the year, no Trustees received any remuneration or other benefits {2023- £NIL). During th8 year ended 31 December 2024, no Tnjstee expenses have been incurred (2023 - £NIL). 10. Debtors 2024 2023 Due wlthln one year Other debtors Prepayments and accrued income 27,742 421 32,299 409 28,163 32, 708 11. Credltors: Amounts falllng due wlthln one year 2024 2023 Accruals and deferred income Trade creditors 2,722 953 1,398 1,420 Other taxation and social security 663 4,338 2,818
FOOD AND FARMING DISCOVERY TRUST {A Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 12. Statement of funds Statement of funds - current year Balance at 31 December 2024 Balance at 1 January 2024 In¢ome Expendlture Unrestricted funds General Funds - all funds 29,890 57,155 (63,2201 23,825 Statemont of funds . prlor year 8alance at 31 December 2023 8alanc8 at l January 2023 Incom8 Expenditure Unrestrlcted funds General Funds - all funds 57,052 50,850 (T8,012J 29,890 13. Summary of funds Summary of funds - current year Balance at 31 December 2024 Balance at 1 January 2024 Income Expendlture General ftjnds 29,890 57.155 {63,2201 23.825
FOOD AND FARMING DISCOVERY TRUST {A Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 13. Summary of funds {contlnued) Summary of funds- prSor year 881ance 8t 31 December 2023 8818nce 8t l January 2023 Income Expenditu General funds 57,052 50,850 (78,012) 29,890 14. Analy$l8 of assots tWO•Th fund$ Analy$l8 of net 08$0ts botwwn funds - ¢urr•nt wrlod Unr•strS¢t•d funds 2024 Total fund$ 2024 Current assets Creditors due within one year 28.163 14,3381 28,163 {4.3381 Total 23,825 23,825 Analysis of net assets between funds - prior period Unrestricted funds 2023 Total funds 2023 Current assets Creditors due within one year 32, T08 (2.818J 32, 708 (2,818) Total 29,890 29,890 15. Pension commitments The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity lo the fund and amounted lo £1.688 {2023- £1,899).
FOOD AND FARMING DISCOVERY TRUST {A Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 16. Related party transactlons The Roy81 Norfolk Agricultural Association IRNAA) is a related party 85 Dr C M Richards is 8 Trustee of the RNAA and M A Nicho18s MBE OL is the Managing Director ofthe RNAA. During the year the RNAA recharged expenses tol811ing £7.385 (2023- £13,845). The RNAA made four grants lo the Charity in the year to 31 December 2023 totalling £20,000 {2023 - three gr8nts in lot81 £15,OOOJ relating to staffing support. Included within other debtors as al 31 December 2024 is a balance of £27,742 (2023 £32,299) owed by the RNAA. The RNAA also a¢led as an agent on behalf of the Charity during the year. wilh in¢ome being received lolalling £57,155 (2023 £50,850) and expenditure being incurred lolalling £61,712 (2023 - £83,955), through a designated bank account. Al 31 December 2024 a cash balance was held on behalf of the Trust of £27,742 {2023- £32,299). There are no other lated party transactions lo disdose.