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2025-06-30-accounts

Annual Report and Financial Statements for the year ended 30 June 2025

www.growingwell.co.uk

Growing Well Limited is a Registered Charity in England and Wales, No. 1182018 Company Registration No. 11446092

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Photo © Daniel Hambury/Stella Pictures
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Contents

Reference and administrative details of the charity, its Trustees and advisers for the year ended 30 June 2025

Registered Charity Name Growing Well Limited Registered Charity Number 1182018

Company Registration 11446092 Number Registered Office

Low Sizergh Barn Sizergh Kendal Cumbria LA8 8AE

Mr J Sharp Chair of Trustees Mrs H Duxbury Resigned 27 August 2025

Trustees

Prof. J Duxbury OBE Appointed 15 October 2024

Dr A Simper OBE Appointed 15 October 2024

Dr T Watson Mr S Wren

Mrs M I Smith

Company Secretary Chief Executive Officer Auditor

Mrs M I Smith

Sayer Vincent LLP 110 Golden Lane London EC1Y 0TG

Cooperative Bank PLC PO Box 200 Delf House Southway Skelmersdale WN8 6GH

Bankers

3

Message from the Chair of Trustees

Growing Well has made very significant progress towards its goals over the past 12 months and we end the year in a very much stronger position.

We have built our team at all levels, stabilised our financial position and developed new sources of income, at the same time as supporting a greater number of beneficiaries than ever before. None of this would have been possible without the dedicated hard work of all of our people.

Simon Brock stepped down as a Trustee, after 6 years’ service, in October 2024. Simon was a very important supporter of the charity and our staff and we are very thankful for all he did.

We welcomed Professor Joy Duxbury and Dr Adrian Simper as Trustees in October 2024. Joy is a Professor of Mental Health at the University of Cumbria and has a history of influencing practice and policy. Adrian had a distinguished career in the nuclear industry, most recently as the NDA’s Chief Scientist. He brings invaluable experience and connections to the west Cumbrian communities we serve.

2024-25 also saw a significant strengthening of our senior team.

We were also delighted to open our new tree nursery at our Tebay site in July 2025. This was made possible by the generosity of a number of donors, in particular The Westmorland Family, who have supported us in so many ways over the years, not least through multi-year financial support and making the land available for the site.

The tree nursery will be a valuable source of additional earned income and will support landscape restoration projects across the region, in particular in partnership with The Cumbria Wildlife Trust.

Our short term focus is now to maximise the impact of each site by growing referral numbers and continuing to assess the impact of our services. We will focus on growing our income and diversifying income sources.

All the evidence we have demonstrates just how effective our model is. It is also squarely aligned with the NHS’s 10-year plan to move mental health services from hospitals to the community.

We believe more than ever that Growing Well should (and could) flourish in any community wishing to invest in it.

We welcomed Hannah Walker as Financial Controller. Her financial experience across a range of industries has ensured our controls and management information have been further improved.

Dr Duncan Precious, a Consultant Clinical Psychologist, joined as our therapeutic lead and his work will enable us to continue to improve our services and better assess their impact.

Ed Tallis joined as Head of Development having spent his career largely in the NHS. He will ensure Growing Well works closely and effectively with the NHS to support their mental health priorities.

We end the year having improved our reserves position and generated substantial income. Pleasingly, much of this has been through multi-year grants. This year, for the first time, Growing Well secured funding from the NHS and we will be building on this partnership as a priority.

Growing Well Chair of Trustees Jim Sharp with Sarah Dunning, Chair at Westmorland Ltd and Mary Smith, Growing Well CEO, at the launch of the new tree nursery at the Tebay site, July 2025.

Jim Sharp Chair of Trustees

4 Message from the Chair of Trustees

Strategic Review Our purpose, aims and objectives

Purpose:

Our charity’s purposes, as set out in the company’s memorandum and articles of association, are to:

Relieve the needs of people with disabilities and /or suffering from mental ill health, for public benefit, by providing

Strategic aims and objectives:

We review our aims, objectives and activities each year. This review looks at the success of each key activity and the benefits they have brought to those people taking part. The review helps us ensure we remain focussed on our stated purposes.

We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit and are satisfied that the aims and objectives of the Charity and the activities reported on in this annual report to achieve those aims meet all requirements.

As a result of significant work already undertaken on our income generation model and value proposition during 2024-25, we plan to introduce updates to some of our core statements in line with our evolving direction. These will be updated in consultation with our wide stakeholder audiences, including beneficiaries, funders, commissioners, marketing and communications experts, plus the staff and Trustees of our charity.

These statements fundamentally represent our purpose, which has not changed significantly but has improved, advanced and achieved tighter focus since they were last drafted. They are critical in the explanation of our work. They are cornerstone engagement tools for our income generation function and are crucial in the clear inducting of new staff. Our charitable objects will therefore be updated, formally, and presented in our next annual report.

Strategic Review - Our Purpose, Aims and Objectives

5

Volunteer in the polytunnels at our Low Sizergh site

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6 Strategic Review - Our Activities, Performance and Achievements
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This section details our activities and achievements during the year to June 30 2025, with specific reference to the strategic aims outlined in our previous annual report.

As at 30 June 2025 we are at the start of our final year of our three-year plan to achieve proven, replicable, therapeutic and business models (2023-26), prioritising financial stability and evidence of efficacy.

Model

We have made significant steps forward with our therapeutic model during the three-year period and have used the past financial year to further invest in, and professionalise, our model.

In September 2024, we welcomed Dr Duncan Precious, Consultant Clinical Psychologist, to our team. As Growing Well’s dedicated Therapeutic Lead, Duncan is the arbitrator of our model and leads on clinical governance systems pertaining to our work. This includes the creation and delivery of bespoke, environment-specific training, development and supervision support for our staff teams across all three sites.

Duncan’s strategic input is concerned with how and why we interrogate our data sets to best understand our impact and ensure consistent best practice in both delivery and data harvesting across the organisation. As such, he has recruited a voluntary workforce of PhD students and skilled volunteers from The University of Lancaster, The University of Cumbria and our local communities, to advance the pace and capability of our work in this area.

Impact

Following on from the above, we have been fortunate in securing a regular, ongoing rhythm of PhD resource via the University of Lancaster. Students are tasked with a number of qualitative and quantitative research and support projects, including data analysis, service evaluation and the crafting of evidence-led proposals, which have led to significant statutory funding opportunities for our charity.

Income

After a challenging 2023-24, we are pleased to report a much-improved income generation picture for the financial year 2024-25.

Growing Well, by leveraging new communications tools, evidence of impact, professionalised systems, governance and growing reputation in Cumbria and beyond, has managed to secure a number of high profile, multi-year funding opportunities. Further, we have made excellent early progress in diversifying (and thereby safeguarding) our income mix.

In October 2024, Growing Well was awarded significant grant funding (£100k) from the North East and North Cumbria Integrated Care Board, in support of our mental health intervention in North and West Cumbria (delivered at our Tebay and Egremont sites). In particular, we were tasked with supporting our local NHS Trust (Cumbria, Northumberland, Tyne and Wear) to reduce their heavily burdened Community Treatment Team waiting lists, and support people to access help at Growing Well as soon as possible.

In Spring 2025, it was announced that our five-year, partnership bid to The National Lottery Community Fund with other Cumbrian charities and statutory services had been successful. This initiative will see Growing Well’s Tebay and Egremont sites act as community triage hubs where other agencies can meet their clients and patients, refer them directly into Growing Well and/or find and signpost other support for individuals in need.

In July 2025, we secured a second NHS contract to support individuals signed off work on their first or second fit note. This programme, called “Work Well”, launched in October 2025 and will deliver a 12-16-week pathway of support to people whose goal it is to return to work. It will be delivered in partnership with 5 other support organisations and is being led by Cumbria Health, a local social enterprise.

Strategic Review - Our Activities, Performance and Achievements

7

We strengthened our income generation team this year, with the introduction of three new roles. Ed Tallis, a former Integrated Care Board Director, joined our Senior Leadership Team as Head of Business Development.

This appointment sets a clear strategic intention to pursue and secure statutory contacts and networks, and further establish our work as not just charitable, but as a vital community service in Cumbria. Ed has recruited two further staff to concentrate on trusts and foundations, and community and corporate fundraising, respectively.

Our trusts and foundations income still represents a significant proportion of our income for the years ahead, especially now that several, multi-year contracts have been awarded. However, work is already underway to become more targeted and specific in our approach in this area, and to engage other avenues of income that we have not previously had the resource to address.

Priority areas of focus include the development of occupational health pathways working with local employers. This is being developed by our Therapeutic Lead and Head of Business Development, and piloted with key corporate partners, including the Nuclear Decommissioning Authority (NDA) and Westmorland Ltd.

Our tree propagation at Tebay scheme achieved significant financial backing from a number of prestigious grant funders (National Lottery Heritage Fund, Scottish Power Foundation, Liontrust Foundation and a Tree Production Capital Grant via the Department for Environment, Food and Rural Affairs (DEFRA).

Work began on the project in the Winter of 2024 and by Spring, our beneficiaries, volunteers and staff had already constructed a polytunnel and sown over 25,000 native seeds.

Early customers include Cumbria Wildlife Trust, who will procure a significant number of our saplings for a pioneering nature recovery project on Skiddaw, an iconic Lakeland mountain. We were proud to host an official launch of this project at the start of July 2025 and we are confident we have created a wonderful new beneficiary activity, as well as a secure and substantial new income stream.

Governance

In the Autumn of 2024 we were delighted to welcome Prof. Joy Duxbury OBE and Dr Adrian Simper OBE to our Board of Trustees.

Joy holds the role of Professor of Mental Health at the University of Cumbria and has already supported our Therapeutic Lead to create a new avenue of resource and support for our research and impact work, via the University of Cumbria. Joy is extremely experienced in, and passionate about, governance in mental health, and the championing of safe, professional, community-based interventions.

Adrian, formerly the Director of Strategy for the NDA, and national mental health lead for the NDA group, is supporting our Senior Leadership Team with insight around corporate structures and income generation, plus occupational health pathways.

Positioning

As well as the appointment of a highly experienced Head of Business Development with significant statutory commissioning experience, we have continued to develop and improve our outreach and reporting collateral to articulate and demonstrate our work.

In December 2024, we produced and published our first annual impact report, highlighting key data, evidence of efficacy and beneficiary testimonials in support of our approach.

A further-updated logic model is included in this report and can be seen on page 10.

8 Strategic Review - Our Activities, Performance and Achievements

Strategic Review - Our Activities, Performance and Achievements 9

Our activities, performance and achievements

Growing Well Logic Model (updated June 2025)

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Needs Activities Change Mechanisms Outcomes Impact
Mental ill health evidence-based mental Psychology-led and An environment of safety A reduction in recurrent mental and physical Improved population mental
and belonging and physical health
health support health symptoms
Previous trauma 1:1 psycho-social Greater access to Increased wellbeing Reduced pressure on
interventions green space, nature primary and secondary
and physical activity care services
Difficulty maintaining daily Goals-based approach Positive challenge through Increased confidence Improved economic activity
functioning and structure structured goal setting and self-worth
Social isolation and Structured, commercial Re-building of routine Increased resilience A stronger, more connected
loneliness growing activities in teams community
Unemployment / sickness Development of practical, Working alongside others Empowerment and agency
absence horticultural, work on collaborative tasks
and life skills
Co-occurring physical Support to access Engaging in purposeful, commercial activities Social inclusion
health conditions community networks
with tangible results
Signposting to specialist Regular recognition of Increased skills for
services individual contributions work and life
Structured and supported
Feeling ready for the next Improved community
exit planning to empower
challenge (e.g. employment) networks and support
continued development
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This financial year, we completed a value proposition exercise with external agency, Altogether Creative, and expanded on this work with Dr Alex Evans, a community consultant.

We used our improved, targeted and specific narratives to advance conversations with key stakeholders in each area of the operation. This work has been well received by our internal and external audiences, alike.

We are confident that this work has had a direct influence on both the tightening up of referral pathways (referrer understanding) and on our income generation success.

We have also completed a brand refresh and a review/improvement of our marketing material.

A brand guidelines document has been created for the organisation and our new website, designed and built by Neil Bowness at Turnwheel, will launch in Winter 2025.

Previous and new Growing Well logo

Strategic Review - Our Activities, Performance and Achievements

10

Financial review

2024/25 has been another year of growth for Growing Well, overall income increased by £315.1k (28%) in comparison to 2023/24.

Whilst Growing Well has previously acknowledged the need to diversify its income streams and recognised the risks around being dependant on grant funding, the majority of the growth, £265.5k, has been in grant funding.

This is largely due to securing various grant funders who support the new tree propagation project at Tebay. £181.9k of revenue grants were received in the year to support this as well as £39.6k of capital grants. This funding has enabled the establishment of the tree nursery from which we will begin to generate sapling sales from in the winter of 2025/26, a new alternative income source for the charity.

The year has also seen an increase in crop sales of £38.8k (48%) due to all three sites being fully operational for the 12 months.

As all sites were operational for the 12 months there has been an increase in direct costs of charitable operations of £119.5k (16%). With the creation of new central roles in the charity and a strengthening of the income generation team, costs in relation to the fundraising and support functions have also increased. Overall expenditure has increased by £224.3k (24%).

Income was in excess of expenditure in the year which has allowed the charity to generate a net surplus of £302.2k.

Reserves

In the year a prior year adjustment has been recognised in respect of 2023/24 and restricted expenditure. Restricted grant income for the Egremont site received in 2023/24 was reviewed against restricted spend in the period, it was found that 73.5k of expenditure had been shown to be funded from unrestricted funds in 2023/24 when it was funded from restricted funds. The effect of the prior year adjustment is that brought forward unrestricted reserves at 1 July 2024 have increased by £73.5k to £131.6k. Further information can be found in Note 24 of the accounts.

£136.8k of unrestricted reserves to be generated in the year, total carry forward unrestricted reserves at 30 June 2025 are £268.4k.

Trustees have agreed a policy which has set the goal for unrestricted reserves to be a minimum of three months of expenditure. One month’s expenditure is set at £122.8k, meaning that although progress has been made in the year to increase unrestricted reserves, the charity is still below its agreed minimum level of unrestricted reserves.

Liquidity and treasury management

The cash position at 30 June 2025 was £461.8k a significant increase on the balance at 30 June 2024 of £76.0k. The increase was due to various large grant receipts being received in the final quarter of 2024/25 some of which cover funding periods up to 12 months in advance.

With an increased cash balance the senior leadership team and Trustees will continually review cash flow forecasts to ensure that return can be maximised from deposit accounts.

Going Concern

The Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future.

Strategic Review - Financial Review

11

Our impact

Individuals supported Kendal 256 Tebay 171 West Cumbria 158

2023/24: Kendal 293; Tebay 219; West Cumbria 40

Average attendance Kendal 69% Tebay 61% West Cumbria 52%

2023/24: Kendal 67%; Tebay 68%; West Cumbria 67%

Therapeutic days delivered

Kendal 193 Tebay 188 West Cumbria 169

2023/24: Kendal 190; Tebay 182; West Cumbria 18

Individuals engaged 6+ weeks

Kendal 81 Tebay 75 West Cumbria 72

2023/24: Kendal 98; Tebay 99; West Cumbria 19

Individual attendance to day service

Kendal 1,444 Tebay 1,156 West Cumbria 995

2023/24: Kendal 1,337; Tebay 990; West Cumbria 56

Over 2,200 additional day visitors

Non-mental health/ general population health visits to our sites, benefiting from our expertise in horticulture and mental health.

Crop Share boxes distributed to local community

Kendal 3,615 West Cumbria 2,107

2023/24:

Kendal 3,477; West Cumbria nil

Minimum of 8 items per Crop Share box

12 Strategic Review - Our Impact

Gender split of beneficiaries Male 52% Female 46% Non-binary 2% 2023/24: Male 55%; Female 44%; Non-binary 1%

5,953 hot, healthy, meals provided to beneficiaries 2023/24: 5,302

Over 225,500 seedlings produced 2023/24: 100,000

Over 25,000 tree saplings 2023/24: nil

Age demographic

18-30 25% 31-50 37% 51-70 36% 71+ 2%

2023/24:

18-30 27%; 31-50 28%; 51-70 38%; 71+ 7%

Strategic Review - Our Impact

13

14 Strategic Review - Quotes from Beneficiaries

Quotes from beneficiaries

“There is an overarching feeling of family and safety and growing up. I feel GW routine and structure and social create an environment where good mental and emotional health is role modelled in many ways by the staff and volunteers. Support personally and collectively makes it possible to watch myself and others grow.”

“It has helped me to be more confident in myself and my abilities and has given me the resources to deal when I’m having a bad time mentally.”

“Feeling like you can learn something new, carry out tasks, be part of a team and develop a sense of self-worth again. Meaningful connections to being part of a team and interacting generally with people. I laugh so much now!”

“It has made a huge difference in my life. I feel it has become a “healthy anchor”, a base to come back to each week. It has helped stabilise my emotions and ground me.”

“Increased independence and responsibility is helping me work towards a life with more independence and ability to care for myself.”

“It takes me out of circular and unhelpful thoughts that go round in my head and is mindful practice in action. Also has restored some of my confidence that I have something to contribute so I can directly apply that to other aspects of my life and helps me visualise a happier future. It has reminded me to be hopeful and happy.”

“My confidence and sense of purpose and belonging have definitely improved so much from being here. I have become physically and mentally fitter and inspired to engage more in life. Have managed to secure paid work, thank you.”

“I can feel myself experiencing happiness again, I’m unfreezing. Also connecting to my emotions again. I feel like I do have a potential future now, so GW has made a huge difference to my life.”

“Everyone I know has seen the impact and I can feel it. Confidence, purpose, belonging. You have nurtured all of that in me and I will be forever grateful. It has given me the tools I need to apply this to other aspects of my life, personally and professionally.”

“Having medium to long term goals makes it easier to deal with off days. Seeing things grow to harvest puts more focus on long/medium rewards and value of not giving up. Learning new things/meeting new people improves cognitive function.”

Strategic Review - Quotes from Beneficiaries

15

STRATEGIC REPORT

Our supporters Quotes from our supporters

“North Cumbria Local Delivery Team supports Growing Well’s innovative approach in providing a therapeutic horticultural environment, which are demonstrating a positive impact in the mental health recovery journey for many individuals.

Initiatives like these are vital and provide an alternative service for people experiencing mental health problems in the community.”

Tania Desborough, Strategic Head of Commissioning

North Cumbria Local Delivery Team, NHS North East and North Cumbria Integrated Care Board

“Our partnership with Growing Well is an incredibly exciting opportunity for people within North Cumbria to access highly effective, evidence-based interventions that support their well-being and build an on-going focus and interest.

We are incredibly proud to be working with Growing Well to offer people experiencing mental health needs a different and highly innovative approach.

“Growing Well brings the NHS 10 year plan to life, offering a preventative, person-centred and communitybased approach that builds resilience and supports people to recover and thrive. It’s exactly the kind of model we need more of.”

Adam Crampsie, Chief Executive

Everyturn Mental Health

“It’s been a pleasure this year to work with an organisation this ambitious and enterprising. Across the UK, they are one of the only organisations who have been able to scale up to meet increasing mental health challenges across communities, even in the context of a worsening economic environment.

Alongside the depth of Growing Well’s impact on people’s lives and their community, I’ve been amazed by their sheer determination, creativity, and will to reach the people who need them most.”

Dr Alex Evans

Alex Evans Community Consulting

Their model and person-centred approach has already changed the lives of many people accessing the service and offers real hope and opportunity. I look forward to our ongoing partnership and bringing new ways to support people living well with mental health needs”

David Storm, Associate Director

Access & Community Clinical Business Unit North Cumbria Locality Care Group

16 Strategic Review - Our Supporters

Our funders

Strategic Review - Our Funders

17

18 Strategic Review - Corporate Supporters

Strategic Review - Corporate Supporters 19

Our future

Next financial year (2025-26), we’re making solid commitments to the following actions, which represent a continuation of the work committed in our 2023-26 plan. They are currently formatted as per our 2023-26 strategy, under the pillars:

Model

Income

Impact

Governance

Positioning

We’ve also decided – as a cross-cutting theme – to continue our exploration of further expansion and replication potential (both geographically and as a service). Our Senior Leadership Team is working on criteria for any growth or replication, aligned with our mission.

This annual report of accounts will confirm that much of the above work is already underway, however, a large proportion still needs embedding operationally, as part of our continued commitment to consolidating our business and operating models.

20 Strategic Review - Our Future

Strategic Review - Our Future 21

Structure, governance and management

Growing Well Limited is a company limited by guarantee (company number 11446092) and is a registered charity (charity number 1182018) governed by its Memorandum and Articles of Association.

The Trustees constitute Directors of the Charity for the purposes of company law.

The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of Articles.

The Board of Trustees meets quarterly but delegates the daily running to the Chief Executive Officer.

A number of working groups, involving Trustees and staff, exist to aid discussion and problem solving in different aspects of the charity’s operations. These groups report back to the main Board with any recommendations.

Risk management

The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity and are satisfied the systems and procedures are in place to mitigate exposure to the major risks.

The Trustee Board is sensitive to potential risks to which the Charity may be exposed. The principal risks currently identified are:

1. Succession of key roles

Mitigation:

2. Sustainable funding model not achieved

Mitigation:

Strategic Review - Structure, Governance and Management

22

Responsibilities of the Trustees

The Trustees (who are also the directors of the Charity for the purposes of company law) 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 Practice).

Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity’s transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006.

They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Each of the persons who is a Trustee at the date of approval of this report confirms that:

Sayer Vincent LLP were appointed as auditors of the charity and a resolution proposing that the firm be reappointed as auditor of the company in accordance with section 487 of the Companies Act 2006 was agreed at 1 December 2025 Board meeting.

Small Company Provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

Approved by order of the members of the Board of Trustees on 1 December 2025 and signed on their behalf by:

Mr J Sharp Chair of Trustees

Strategic Review - Responsibilities of the Trustees

23

24

Auditor’s Report

Independent auditor’s report to the members of Growing Well Limited

Opinion

We have audited the financial statements of Growing Well Limited (the ‘charitable company’) for the year ended 30 June 2025 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis of Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions Relating to Going Concern

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on Growing Well Limited’s ability to continue as a going concern for a period of at least

twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the Trustees’ annual report, other than the financial statements and our auditor’s report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report on by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ annual report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Auditor’s Report 25

Auditor’s Report

Independent auditor’s report to the members of Growing Well Limited

The directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the Trustees’ annual report and from the requirement to prepare a strategic report.

Responsibilities of Trustees

As explained more fully in the statement of Trustees’ responsibilities set out in the Trustees’ annual report, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of noncompliance with laws and regulations. We design procedures in line with our responsibilities, outlined

above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

Capability of the audit in detecting irregularities

26 Auditor’s Report

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities

This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company’s members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Judith Miller (Senior Statutory Auditor)

4[th] December 2025 for and on behalf of Sayer Vincent LLP, Statutory Auditor 110 Golden Lane, London, EC1Y 0TG

Auditor’s Report

27

Statement of Financial Activities

(Incorporating Income and Expenditure Account) for the Year Ended 30 June 2025

Note Unrestricted
Restricted
Fixed asset
Total funds
funds
funds
fund
2025
£
£
£
£
Income from:
Donations and grants
3
Charitable activities
4
Other trading activities
5
Investments
6
Other
7
Total income
Expenditure on:
Raising funds
8
Charitable activities
9
Total expenditure
Net income/(expenditure)
Transfers between funds
20
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 624,990
612,546
62,214
1,299,750
122,745
-
-
122,745
23,573
-
-
23,573
5,705
-
-
5,705
-
-
-
-
777,013
612,546
62,214
1,451,773
101,916
3,261
-
105,177
528,592
421,363
94,425
1,044,380
630,508
424,624
94,425
1,149,557
146,505
187,922
(32,211 )
302,216
(9,702 )
(2,507 )
12,209
-
136,803
185,415
(20,002 )
302,216
131,561
53,745
327,962
513,268
136,803
185,415
(20,002 )
302,216
268,364
239,160
307,960
815,484

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 32 to 45 form part of these financial statements.

28 Statement of Financial Activities

Statement of Financial Activities

(Incorporating Income and Expenditure Account) for the Year Ended 30 June 2024

Restated as per Note 24
Unrestricted
Restricted
Fixed asset
Total funds
funds
funds
fund
2024
£
£
£
£
Income from:
Donations and grants
Charitable activities
Other trading activities
Investments
Other
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net income/(expenditure)
Transfers between funds
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 371,649
436,183
226,393
1,034,225
86,780
-
-
86,780
10,650
-
-
10,650
158
-
-
158
4,908
-
-
4,908
474,145
436,183
226,393
1,136,721
90,401
-
-
90,401
313,496
447,677
73,702
834,875
403,897
447,677
73,702
925,276
70,248
(11,494)
152,691
211,445
42,230
-
(42,230 )
-
112,478
(11,494)
110,461
211,445
19,083
65,239
217,501
301,823
112,478
(11,494 )
110,461
211,445
131,561
53,745
327,962
513,268

Statement of Financial Activities

29

Balance sheet

for the Year Ended 30 June 2025

Fixed Assets
Tangible assets
Current Assets
Debtors
Cash at bank and in hand
Creditors: amounts falling
due within one year
Net Current Assets
Total Assets less Current Liabilities
Net Assets
Charity funds
Restricted funds
Fixed asset fund
Total restricted funds
Unrestricted funds
Total funds		 Note 2025
£
302,359
302,359
513,125
815,484
815,484
547,120
268,364
815,484		 Restated as per Note 24 Restated as per Note 24 2024
£
14
15
16
20
20
20
20		 125,183
461,777
586,960
(73,835 )
239,160
307,960		 162,116
75,965
238,081
(51,189 )
53,745
327,962		 326,376
326,376
186,892
513,268
513,268
381,707
131,561
513,268

The Trustees have determined that an audit is required under Section 144 of the Charities Act 2011 in accordance with Section 475 of the Companies Act 2006. As such, these financial statements have been audited by an independent auditor as required by law.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Mr J E Sharp

Chair of Trustees

Growing Well Limited Company Number: 11446092 Date. 1 December 2025

The notes on pages 32 to 45 form part of these financial statements.

30 Balance Sheet

Statement of cash flows for the Year Ended 30 June 2025

Cash fows from operating activities
Net cash provided by (used in)
operating activities
Cash fows from investing activities
Bank interest received
Proceeds from sale of fxed assets
Purchase of fxed assets
Net cash provided by (used in)
Cash fows from fnancing activities
Net cash provided by (used in)
fnancing activities
Net increase/(decrease) in cash
and cash equivalents
Cash and cash equivalents at
beginning of year
Cash and cash equivalents at
end of year		 Note 2025
£
450,515
(64,703 )
-
385,812
75,965
461,777		 Restated as per Note 24 Restated as per Note 24 2024
£
199,585
(229,654 )
-
(30,069 )
106,034
75,965
24
 5,705
-
(70,408 )		 158
7,000
(236,812 )

Statement of Cash Flows

31

Notes to the Financial Statements

1. General information

Growing Well Limited is a charitable company, limited by guarantee, incorporated in England and Wales under the Companies Act 2006.

The address of the registered office is Low Sizergh Farm, Sizergh, Kendal, Cumbria, LA8 8AE.

The charitable company meets the definition of a public benefit entity under FRS 102.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Growing Well Limited meets the definition of a public benefit entity under FRS 102.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Going concern

The Trustees assess annually whether the use if the going concern basis of accounts preparation is appropriate and consider any material uncertainties that exist relating to events and conditions that may cast significant doubt on the ability of the charity to continue as a going concern.

The Trustees consider that there are no material uncertainties and so conclude that the charity has adequate resources to continue in operational existence for the foreseeable future and therefore continue to adopt the going concern basis of accounting.

2.3 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet.

Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity’s objectives, as well as any associated support costs.

2.6 Taxation

The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

2.7 Tangible fixed assets and depreciation

Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using both the straight line and the reducing balance method. Depreciation is provided on the following bases:

Short-term leasehold 5 years straight line
property improvements
Plant and machinery 5 years straight line
or 25% reducing balance
Motor vehicles 25% reducing balance
Fixtures and fttings 3 years straight line
Offce equipment 3 years straight line

2.8 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.9 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.10 Liabilities and provisions

2.4 Donated services

As the value of service provided to the charity by volunteers cannot be quantified, they have not been included in these accounts.

2.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity.

The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.

Liabilities are recognised when there is an obligation at the Balance Sheet date 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 at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability.

The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

32 Notes to the Financial Statements

2.11 Financial 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 measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.12 Operating leases

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the lease term.

2.13 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

2.14 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

2.15 Critical accounting estimates and judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Significant Judgements and Key Sources of Estimation Uncertainty

The most significant judgement made in applying the accounting policies is the determination of whether there are indicators of impairment on the tangible fixed assets. Factors taken into consideration include the economic viability and expected future financial performance of the assets.

Tangible fixed assets are depreciated over their useful economic life taking into account their residual values. Actual lives of assets and residual values are assessed annually, in re-assessing asset lives factors such as technological innovation and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal value.

Notes to the Financial Statements

33

3. Income from donations and grants

Unrestricted
Restricted Fixed asset
Total funds
funds
funds
fund
2025
£
£
£
£
203,517
1,831
-
205,348

421,473
610,715
62,214
1,094,402

624,990
612,546
62,214
1,299,750
Unrestricted
Restricted Fixed asset Total funds
funds
funds
fund
2025
£
£
£
£
-
18,525
-
18,525

-
544,301
-
544,301

-
2,600
-
2,600

-
4,000
-
4,000

-
33,605
-
33,605

421,473
7,684
-
429,157

-
-
62,214
62,214

421,473
610,715
62,214
1,094,402		 Unrestricted
Restricted
Fixed asset
Total funds
funds
funds
fund
2024
£
£
£
£
Donations and legacies
Grants
Total
Analysis of grant income		 146,919
11,500
-
158,419
224,730
424,683
226,393
875,806
371,649
436,183
226,393
1,034,225
Unrestricted
Restricted Fixed asset
Total funds
funds
funds
fund
2024
£
£
£
£
Growing
Volunteer support
Catering
Business development
Subsidised Crop Share
Other grant income
Capital funding
Total		 -
6,000
-
6,000
-
397,114
-
397,114
-
4,200
-
4,200
-
7,667
-
7,667
-
-
-
-
224,730
9,702
-
234,432
-
-
226,393
226,393
224,730
424,683
226,393
875,806

4. Income from charitable activities

Unrestricted
Restricted
Total funds

funds
funds
2025
£
£
£
2,987
-
2,987
75,477
-
75,477
44,281
-
44,281
122,745
-
122,745		 Unrestricted
Restricted
Total funds
funds
funds
2024
£
£
£
Fees from engagement activities
Growing retail - Crop Share
Growing wholesale
Total		 5,833
-
5,833
47,314
-
47,314
33,633
-
33,633
86,780
-
86,780

34 Notes to the Financial Statements

5. Income from other trading activities

Income from non-charitable trading activities

Unrestricted
Restricted
Total funds
funds
funds
2025
£
£
£
Other trading activity income

Fundraising events

Total		 21,730
-
21,730
1,843
-
1,843
23,573
-
23,573
Unrestricted
Restricted
Total funds
funds
funds
2024
£
£
£
7,946
-
7,946
2,704
-
2,704
10,650
-
10,650

6. Investment income

Unrestricted Restricted Total funds
funds funds 2025
£ £ £
Investment income
 5,705 - 5,705
Unrestricted
Restricted
Total funds
funds
funds
2024
£
£
£
158
-
158

7. Other income

7. Other income
Unrestricted Restricted Total funds
funds funds 2025
£ £ £
Gain on sales of assets - - -
Unrestricted
Restricted
Total funds
funds
funds
2024
£
£
£
4,908
-
4,908

8. Expenditure on raising funds

Income from non-charitable trading activities

Unrestricted
Restricted
Total funds
funds
funds
2025
£
£
£
Event costs

Other fundraising costs

Staff costs

Total		 557
1,213
1,770
6,214
2,048
8,262
95,145
-
95,145
101,916
3,261
105,177
Unrestricted
Restricted
Total funds
funds
funds
2024
£
£
£
561
-
561
3,654
-
3,654
86,186
-
86,186
90,401
-
90,401

Notes to the Financial Statements 35

9. Analysis of expenditure on charitable activities

Summary by fund type

Restated as per Note 24
Unrestricted Restricted Total funds Unrestricted Restricted Total funds
funds
funds		 2025 funds funds 2024
£ £ £ £ £ £
Charitable operations 623,017 421,363 1,044,380 377,254 447,677 834,875
Summary by expenditure type
Staff costs		 Depreciation Other costs Total funds Staff costs Depreciation Other costs Total funds
2025 2024
£
£		 £ £ £ £ £ £
Charitable operations
669,937
94,425		 280,018 1,044,380 527,735 73,702 233,438 834,875
10. Analysis of expenditure by activities
Activities undertaken Support Total funds Activities undertaken Support Total funds
directly
costs		 2025 directly costs 2024
£ £ £ £ £ £
Charitable operations 848,001 196,379 1,044,380 728,515 106,360 834,875
Analysis of direct costs Charitable Total funds
operations
2025
£
£
557,888
557,888
94,425
94,425
50,318
50,318
46,639
46,639
35,796
35,796
14,298
14,298
28,937
28,937
19,700
19,700
848,001
848,001
2025
£
19,700		 Charitable
Total funds
operations
2024
£
£		 Charitable
Total funds
operations
2024
£
£
Staff costs
Depreciation
Growing costs
Volunteer support
Site costs
Administration support costs
PR and marketing
Governance
Total
The governance fgure above includes audit fees as detailed below:
Audit fees		 459,102
459,102
73,702
73,702
47,069
47,069
36,564
36,564
29,642
29,642
54,169
54,169
20,230
20,230
8,037
8,037
728,515
728,515
2024
£
8,000

The audit fee for 2025 includes an amount of £3,545 which relates to the 2024 audit, which was under accrued. Audit fees are inclusive of non-recoverable VAT.

36 Notes to the Financial Statements

10. Analysis of expenditure by activities

Analysis of support costs Charitable Total funds
operations
2025
£
£
112,049
112,049
12,224
12,224
69,887
69,887
2,219
2,219
196,379
196,379
2025
£
-		 Charitable
Total funds
operations
2024
£
£		 Charitable
Total funds
operations
2024
£
£
Staff costs
Administration support costs
Professional fees
Bank and fnance charges
Total
The professional fees fgure above includes fees paid to the
auditor in respect of payroll services as detailed below:
Payroll service fees		 68,633
68,633
12,684
12,684
23,080
23,080
1,963
1,963
106,360
106,360
2024
£
1,295

11. Staff costs

11. Staff costs
2025
£		 2024
£
Wages and salaries
Social security costs
Contribution to defned contribution pension schemes
Total
During the year no redundancy payments were paid_(2024: £2,894)_.
The following number of employees received employee benefts (excluding pension costs
and employer’s national insurance) during the year between:		 656,808
51,805
31,668
740,281
2025		 543,144
43,536
27,241
613,921
2024
£60,000 - £69,999
1
During the year remuneration paid to key management personnel amounted to £175,526_(2024: £137,758)_.		 -

12. Staff numbers

12. Staff numbers
2025 2024
The average number of persons employed by the Charity during the year was: 32
2025		 24
2024
The full time equivalent of persons employed by the Charity during the year: 21 17

Notes to the Financial Statements 37

13. Trustees’ remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2024 - £NIL) .

During the year, no Trustee expenses have been incurred (2024 - £NIL) .

14. Tangible fixed assets

14. Tangible fxed assets
Analysis of support costs Short-term
Plant and
Offce
Fixtures and
Motor
Total
leasehold
machinery
equipment
fttings
vehicles
property
improvements
£
£
£
£
£
£
136,661
512,381
23,663
43,467
48,847
765,019
16,231
39,668
4,767
9,742
-
70,408
-
-
(2,451 )
-
-
(2,451 )
152,892
552,049
25,979
53,209
48,847
832,976
81,913
291,308
15,172
30,994
19,256
438,643
14,960
59,300
4,959
7,808
7,398
94,425
-
-
(2,451 )
-
-
(2,451 )
96,873
350,608
17,680
38,802
26,654
530,617
56,019
201,441
8,299
14,407
22,193
302,359
54,748
221,073
8,491
12,473
29,591
326,376
Cost or valuation
At 1 July 2024
Additions
Disposals
At 30 June 2025
Depreciation
At 1 July 2024
Charge for the year
On disposals
At 30 June 2025
Net book value
At 30 June 2025
At 30 June 2024

38 Notes to the Financial Statements

15. Debtors

Due within one year 2025
£		 2024
£
Trade debtors
Prepayments and accrued income
VAT debtor
Other debtors
Total		 36,985
80,412
3,146
4,640
125,183		 26,101
83,325
52,690
-
162,116

16. Creditors

16. Creditors
Amounts falling due within one year 2025
£		 2024
£
Trade creditors
Other taxation and social security
Accruals
Deferred income
Other creditors
Total		 12,815
16,375
41,522
1,123
2,000
73,835		 18,584
13,250
16,012
-
3,343
51,189

17. Deferred income

17. Deferred income
Deferred income comprises income for the supply of
subsidised Crop Share boxes over a 6 month period		 2025
£		 2024
£
Balance at the beginning of the year
Amount recognised in the year
Amount released to income in the year
Balance at the end of the year		 -
1,348
(225 )
1,123		 -
-
-
-

18. Financial instruments

2025
£		 2024
£
Financial assets measured at fair value through income
and expenditure.
Financial assets measured at fair value through income
and expenditure comprise cash at bank.		 461,777 75,965

Notes to the Financial Statements 39

19. Statement of funds

Current year
Balance 1 July 2024
Income
Expenditure
Transfers
Balance
restated as per Note 24

in/out
30 June 2025
£
£
£
£
£		 Current year
Balance 1 July 2024
Income
Expenditure
Transfers
Balance
restated as per Note 24

in/out
30 June 2025
£
£
£
£
£
Unrestricted funds
Designated funds
General funds
Total Unrestricted funds
Restricted funds
Sizergh - General Charitable Activities
Sizergh - Catering
Sizergh - Furness Days - Sir John Fisher
Sizergh - Rent - Roselands Trust
Tebay - General Charitable Activities
Tebay - Tree Propagation
Egremont - General Charitable Activities
Egremont - Storm Damage
Egremont - Subsidised Crop Share
Group Development
Total
Restricted Fixed Asset fund
Fixed Asset Fund
Sizergh Capital Grants
Tebay Capital Grants
Egremont Capital Grants
Total
Total Restricted funds
Total of funds		 -
-
-
-
-
131,561
777,013
(630,508 )
(9,702 )
268,364
131,561
777,013
(630,508 )
(9,702 )
268,364
1,000
49,270
(46,398 )
-
3,872
1,972
-
(1,972 )
-
-
-
10,000
(833 )
-
9,167
360
4,103
(4,463 )
-
-
-
58,423
(58,032 )
-
391
-
181,945
(46,009 )
-
135,936
50,413
268,406
(257,558 )
-
61,261
-
2,795
(2,795 )
-
-
-
33,604
(2,564 )
(2,507 )
28,533
-
4,000
(4,000 )
-
-
53,745
612,546
(424,624 )
(2,507 )
239,160
326,376
-
(94,425 )
70,408
302,359
-
-
-
-
-
1,431
44,965
-
(42,384 )
4,012
155
17,249
-
(15,815 )
1,589
327,962
62,214
(94,425 )
12,209
307,960
381,707
674,760
(519,049 )
9,702
547,120
513,268
1,451,773
(1,149,557 )
-
815,484

40 Notes to the Financial Statements

Prior year as restated as per Note 24 Balance
Income
Expenditure
Transfers
Balance
1 July 2023
in/out
30 June 2024
£
£
£
£
£
-
-
-
-
-
19,083
474,145
(403,897 )
42,230
131,561
19,083
474,145
(403,897 )
42,230
131,561
10,000
34,800
(43,800 )
-
1,000
-
4,200
(2,228 )
-
1,972
500
2,000
(2,500 )
-
-
3,333
-
(3,333 )
-
-
180
7,320
(7,140 )
-
360
15,308
51,750
(67,058 )
-
-
5,585
15,990
(21,575 )
-
-
-
4,000
(4,000 )
-
-
25,000
308,456
(283,043 )
-
50,413
5,333
7,667
(13,000 )
-
-
65,239
436,183
(447,677 )
-
53,745
217,501
-
(73,702 )
182,577
326,376
-
2,675
-
(2,675 )
-
-
7,116
-
(5,685 )
1,431
-
216,602
-
(216,447 )
155
217,501
226,393
(73,702 )
(42,230 )
327,962
282,740
662,576
(521,379 )
(42,230 )
381,707
301,823
1,136,721
(925,276 )
-
513,268
Unrestricted funds
Designated funds
General funds
Total Unrestricted funds
Restricted funds
Sizergh - General Charitable Activities
Sizergh - Catering
Sizergh - Horticulture
Sir John Fisher - Sizergh Furness Days
Roselands Trust - Sizergh Rent
Tebay - General Charitable Activities
Cumbria CVS - Tebay Carlisle Days
Tebay - Horticulture
Egremont - General Charitable Activities
Churchill Fellowship - Group Development
Total
Restricted Fixed Asset fund
Fixed Asset Fund
Sizergh Capital Grants
Tebay Capital Grants
Egremont Capital Grants
Total
Total Restricted funds
Total of funds

Notes to the Financial Statements

41

19. Designated funds

No funds were designated by Trustees from unrestricted reserves during the year.

Restricted Funds

Each of our three sites has its own restricted ‘General Charitable Activities’ fund which comprises of income received specific for the generally running costs of those sites.

In addition to these restricted funds sites also have specific site based restricted funds:

Sizergh - Catering To fund the provision of a daily hot, healthy meal for all benefciaries on site
Sizergh - Furness Days - Sir John Fisher To fund benefciaries from the Furness peninsula area of South Cumbria
Sizergh - Rent - Roselands Trust To fund the rent incurred at Low Sizergh Farm
Tebay - Tree Propagation To fund the tree propagation project at Tebay
Egremont - Storm Damage To fund the repair costs incurred from Storm Eowyn in January 2025
Egremont - Subsidised Crop Share Funds received to provided subsidised Crop Share boxes to the Cumberland region
Group Development Funds received to develop our therapeutic model
Prior year funds:
Sizergh - Horticulture To fund horticulture supplies at Sizergh
Cumbria CVS - Tebay Carlisle Days To fund benefciaries from the Carlisle area
Tebay - Horticulture To fund horticulture supplies at Tebay
Churchill Fellowship - Group Development Funds to develop service delivery model for mental health care farming

Restricted Fixed Asset

The fixed asset fund reflects the net book value of assets held by the charity plus any unspent capital grants received.

Transfers between funds

During the year there was a transfer from restricted to unrestricted funds in respects of grant income to supply subsidised Crop Share boxes. The value transferred equates to the open market value of the subsidised boxes delivered in the year.

During the year there was a transfer from restricted to unrestricted Fixed Asset Fund representing the balance of capital expenditure not funded by grants and VAT reclaimed on previous years assets.

The Fixed Asset Fund continues to reflect the Net Book Value of all assets held by the Charity, as agreed by the Trustees.

42 Notes to the Financial Statements

20. Summary of funds

Summary of funds - current year

20. Summary of funds
Summary of funds - current year		 20. Summary of funds
Summary of funds - current year
Current year
Balance 1 July 2024
Income
Expenditure
Transfers
Balance
restated as per Note 24
in/out
30 June 2025
£
£
£
£
£
General funds
Restricted funds
Restricted funds - Class II
Total Unrestricted funds
Summary of funds - prior year		 131,561
777,013
(630,508 )
(9,702)
268,364
53,745
612,546
(424,624 )
(2,507 )
239,160
327,962
62,214
(94,425 )
12,209
307,960
513,268
1,451,773
(1,149,557 )
-
815,484
Balance 1 July 2023
Income
Expenditure
Transfers
Balance
in/out
30 June 2024
as restated
per Note 24
£
£
£
£
£
General funds
Restricted funds
Restricted funds - Class II
Total Unrestricted funds		 19,083
474,145
(403,897 )
42,230
131,561
65,239
436,183
(447,677 )
-
53,745
217,501
226,393
(73,702 )
(42,230 )
327,962
301,823
1,136,721
(925,276 )
-
513,268

21. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
Restricted
Restricted
Total funds
funds
funds
fxed assets
2025
£
£
£
£
Tangible fxed assets
Current assets
Creditors due within one year
Total		 -
-
302,359
302,359
340,199
241,160
5,601
586,960
(73,835 )
(2,000 )
-
(73,835 )
268,364
239,160
307,960
815,484

Analysis of net assets between funds - prior year as restated per Note 24

Unrestricted
Restricted
Restricted
Total funds
funds 2024
funds 2024
fxed assets 2024
2024
£
£
£
£
Tangible fxed assets
Current assets
Creditors due within one year
Total		 -
-
326,376
326,376
182,750
53,745
1,586
238,081
(51,189 )
-
-
(51,189 )
131,561
53,745
327,962
513,268

Notes to the Financial Statements 43

22. 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 to the fund and amounted to £31,668 (2024 - £27,240) . At the year end date there were no outstanding amounts payable to the fund (2024 - £3,341) .

23. Operating lease commitments

At 30 June 2025 the Charity had commitments to make future minimum lease payments under non-cancellable operating leases as follows:

At 30 June 2025 the Charity had commitments to make future minimum lease payments
under non-cancellable operating leases as follows:
2025
£		 2024
£
Not later than 1 year
Later than 1 year and not later than 5 years
Total		 12,872
44,471
57,343		 6,504
8,634
15,138

At the year end date the balance outstanding on leases related to the charity’s land lease at Low Sizergh, Kendal which has been agreed for a period of 5 years to December 2029 and printer rental at all sites with a 5 year lease agreement until November 2029.

On 3 August 2022 the charity entered into a lease with Westmorland Limited relating to land at Tebay Services. The term of the lease is 6 years and will be at a peppercorn rent per annum (if demanded).

On 2 August 2023 the charity entered into a new lease with Cumberland Council relating to property at Beck Green Nurseries, Egremont. The term of the lease is 25 years and will be at a peppercorn rent per annum (if demanded).

44 Statement of Financial Activities

24. Prior year adjustment - current year

Reserves position Unrestricted
Restricted
Fixed Asset Fund
Total funds
2024
£
£
£
£
Funds previously reported
Adjustments on restatement
Reclassifcation of expenditure from restricted
to unrestricted
Funds restated
Impact on income and expenditure		 58,046
127,260
327,962
513,268
73,515
(73,515 )
-
-
131,561
53,745
327,962
513,268
Unrestricted
Restricted
Fixed Asset Fund
Total funds
2024
£
£
£
£
Net income as previously reported
Adjustments on restatement
Reclassifcation of expenditure from restricted
to unrestricted
Net income/(expenditure) as restated		 38,963
62,021
110,461
211,445
73,515
(73,515 )
-
-
112,478
(11,494 )
110,461
211,445

In the year a review of restricted income and expenditure in relation to the site at Egremont took place. It was found that some expenditure which was funded by restricted grant income in the year 2023/24 hadn’t been assigned as restricted expenditure.

25. Reconciliation of net income/expenditure to net cash flow from operating activities

2025
£
2024
£
Net income/(expenditure) before capital grants
Adjustments for:
Depreciation
(Surplus)/defcit on sale of assets

VAT reclaimed on previous years’ asset purchases
(Increase)/decrease in debtors
Increase/(decrease) in creditors

Bank interest received

Capital grants received

Net cash provided by (used in) operating activities		 240,002
94,425
-
-
36,933
22,646
(5,705 )
62,214
450,515		 (14,948 )
73,702
(4,908 )
52,143
(144,897 )
12,258
(158 )
226,393
199,585

26. Related Party Transactions

During the year donations were received from the Trustees totalling £450 (2024: £100) . Produce was purchased by the Trustees totalling £1,908 (2024: £503) .

Statement of Financial Activities

45

Growing Well Low Sizergh Farm, Kendal, Cumbria LA8 8AE www.growingwell.co.uk

Growing Well Limited is a Registered Charity in England and Wales, No. 1182018 Company Registration No. 11446092