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2023-02-28-accounts

Trustees' Annual Report for the period

Period start date Period end date 01 03 2022 28 02 2023

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To

Section A Reference and administration details

Market Field Farm

Charity name Market Field Farm Other names charity is known by Registered charity number (if any) 1190911 Charity's principal address Market Field School, School Road Elmstead Market Colchester, Essex Postcode CO7 7ET

Names of the charity trustees who manage the charity

Dates acted if not for whole Name of person (or body) entitled Trustee name Office (if any) year to appoint trustee (if any) 1 Naomi Andrews 2 Gary Smith 3 Elizabeth Kuti 4 Miranda Andras 5 David Bullock 6 Jennifer Rudkins 7 Jo Matthias 8 9 10 11 12 13 14 15 16 17 18 19 20

Names of the trustees for the charity, if any, (for example, any custodian trustees)

Name Dates acted if not for whole year

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Names and addresses of advisers (Optional information)
Type of adviser
Name
Address		 Names and addresses of advisers (Optional information)
Type of adviser
Name
Address		 Names and addresses of advisers (Optional information)
Type of adviser
Name
Address

Name of chief executive or names of senior staff members (Optional information)

Section B Structure, governance and management

Description of the charity’s trusts

Constitution

Type of governing document (eg. trust deed, constitution) Association How the charity is constituted

Appointed by the Trustees Trustee selection methods

Additional governance issues (Optional information)

You may choose to include additional information, where relevant, about:

Section C Objectives and activities

Summary of the objects of the charity set out in its governing document

The objects of the CIO are the relief of need of young people with autistic condition and learning difficulties, in particular by providing resources, education, work experience and employment opportunities and facilities

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The delivery of skills work training in a live working environment. The creation of appropriate paid employment for young people with learning disabilities and autism.

Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)

Additional details of objectives and activities (Optional information)

You may choose to include further statements, where relevant, about:

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Section D Achievements and performance

Summary of the main achievements of the charity during the year

In the past twelve months we have:

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Section E Financial review

Brief statement of the charity’s policy on reserves

Before any spend in excess of £50 is made from our reserves, approval is sought from the Trustees via email or at the monthly trustee meetings.

All spends are recorded and circulated at each trustee meeting.

Details of any funds materially in deficit

Further financial review details (Optional information)

You may choose to include additional information, where relevant about:

Section F Other optional information

Section G Declaration

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s)

Full name(s) Naomi Andrews Position (eg Secretary, Chair, Chair etc) Date 22.11.2023

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Charity number: 1190911 MARKET FIELD FARM UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

MARK￿ FIELD FARM CONTENTS Page Reference and administrative details of the CIO, Its Trustees and advisers Trustges, report Independent exarniner's r8port Statgment of financial activities Balance sheet 10 Note$ to the financial statements

MARKET FIELD FARM REFERENCE AND ADMINISTRATIVE DETAILS OF THE CIO. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 28 FEBRUARY 2023 Trustees Naomi Andrews, Chair Joanna Matthias, Trustee Gary Smith OBE, Trustee Jennifer Rudkins, Trustee David Bullock, Trustee Miranda Andras, Trustee Elizabeth Kuli, Trustee Charlty reglstered number 1190911 Princlpal olflce Market Field School School Road Elmslead Colch8sler Essex C07 7ET Accountants Grillin Chapman Chartered Accounlanls 4 & 5 The Cedars Apex 12 Old Ipswich Road Colchesler Essex C07 7QR Page 1

MARKET FIELD FARM TRUSTEES. REPORT FOR THE YEAR ENDED 28 FEBRUARY 2023 The Trustees present their annual report together with the financial statements ol the Charitable In¢orFK)rated Organisation I'CIO'I Market Field Farm for the year from 1 March 2022 to 28 February 2023. Objectives and activities a. Pollcles and oblective$ The objects ol the CIO are the relief ol need ol young people with aulislic condition and learning dilliculties, in particular by providing resources, education. work experience and employment opportunities and facilities. In setting objectives and planning lor aclivilies, the Trustees have given due consideration lo general guidance published by the Charity Commission relating lo public benefit, including the guidance 'Public benelrt.. running a charity IPB21'. b. Strategies for achieving objectives To support a long term strategy ol the charity, we have created a conservation enterprise. working with local organisalions, charities and landowners. The enterprise is called Market Field Grows and continues lo be run as parl ol the charity. This enterprise has created part time jobs for people with learning disabilities, autism and ADHD. Our long term strategy is lo establish a 'larm' sile and our partnership with a local developer aims lo achieve this. We now have a working maslerplan, which was submitted lor consideration lo the Planning Officers al Tendring District Council in December 2022. A special committee meeting was held on 27 Novemb8r 2023, and a resolution lor approval was passed lor the proposed sile. This is a significant slep towards obtaining the farm sile lo further our charity objectives. Page 2

MARKET FIELD FARM TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2023 Objectives and aclivlties {continuedl c. Activities undertaken to achieve oblectives Our intention has always been lo work with existing businesses. However, we soon r8alised the opportunities were not there and we needed lo break down the preconceplions around young people with disabilities. We therefore decided lo become an employer ourselves lo support the long term strategy ol the charity. Research led us towards the green economy and holping businesses achieve their nel zero targets. 11 was then we created a conservation and gardening enterprise. We now work with local organisalions, councils, charities and landowners. The enterprise is called Market Field Grows and is run as part ol the charity. Our first major project saw us working with The Big Green Inlernel lo plant 46,024 trees between December 2021 and April 2022. Since Ihis time, we continue lo grow and expand our reach across north east Essex. We now have two teams, which support 8 paid roles. We have the opportunity lo recruit another group lo form our third team. We will employ four young people as team members, WDrking alongside a lull-lime team leader. All our team members have finished college, struggled lo lind work and have allended a special educational n8eds provision. Training is provided leading up lo the project start. The new team members and team leader work alongside our existing team lor iwo weeks. Skills can be learned and confidence built ahead ol their own project start. We encourage team working and shared experiences, openness and discussion. Support is provided IhroLJghoul the project by our Projeel Manager and Charity Founder, Naomi. as well as sile visits from the other team leaders. Our team members will work two to three day each week. we pay above the national average wage, pay holidays and stalulory sick pay. The team will be recruited lo plant trees between October 2023 and May 2024, during the summer they will undertake maintenance work lor trees planted between October 2022 and May 2023. It's a cyclical process, which guarantees work year round. We charge a day rale lor our seNices, which covers salaries and expenses, however, we rely on charitable support lo sel up our team lo purchase a vehicle, some ol our equipment and PPE. We are in the process ol selling up a Crowd Funding page, which we will launch if we are not successful with the foundation applications. Siralegically, we had hoped lo use the Crowd Funding source ol income lor our larger project. Page 3

MARKET FIELD FARM TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 28 FEBRUARY 2023 Objectives and activities (continued} d. Maln activities undertaken to further the CIO'S purposes for the public benefit The continuation ol a successful gnlerprise, which included- sourcing funding, transport and equipment., recruiting further team members., recruiting another team leader", and enhancing HR systems, payroll and pension plan with the support of an adminislralion assistant. Continue with PR and marketing activities lo raise awareness ol our charity and the challenges we aim lo combat, which included the launch ol our ngw w&b sile a publicity film. Building a strong network ol organisalions and businesses upon which we have formed strong collaborations lor partnership al our new sile. Worked with other organisalions to sel up discussion groups for young people with SEN and autism, with their families and carers. Secured further contracts with local businesses lor work, outside ol Ihg traditional planting season. Working with the Planning team al Tendring District Council lo support our current planning application. Achievements and perfomiance a. Maln achlevements of the CIO The creation ol eight part lime jobs lor young people with autism, learning disabilities and ADHD. The creation of two full lime jobs for a member ol the local community. The purchase ol another truck and equipment upgrades. Planting 162,000 trees. Achieving a steady income lo cover salaries and running costs. Developing a network ol polgnlial partners and organisalions with which lo collaborate and generate further employment in our next year. SecLJring corporate sponsors for the ¢harily. Flnan¢ial ￿VIeW a. Going concern Alter making appropriate enquiries, the Trustees have a reasonable expectation that the CIO has adequate resources lo continue in operational gxislence lor the foreseeable lulure. For this reason, they continue to adopt the going concern basis in preparing the financial slalements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. b. Reserves policy Reserves are retained by the charity in order lo carry out repairs on the truck or general equipment used lor the projects. Fleserves would also be required lor new equipment Isuch as water tanks and lawn mowersl. Generally, the Trustees lilfe lo see £3,500 in cash reserves. This sum would cover any unforeseen costs. Page 4

MARKET FIELD FARM TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 28 FEBRUARY 2023 ¢. Financlal activities At the end ol the financial year the charity had decreased cash resetves totalling £8,577, compared lo the previous year of £13,180. The charity now has fixed assets tolalling £28,870, being new vans used lor Market Grows projects which was funded by grants received in the year. Current liabilities lolalled £4,331, which was comprised ol day lo day operational costs oulslanding. The nel assets ol Ihe charity at the year end lolalled £37,913, compared lo £20,647 the previous year end. Reslricled funds held by the charity as al 28 February 2023 tolalled £13.756. These funds are detailed further within the Slalemenl ol Funds notes. Stru¢ture, governance and management Constltullon Market Field Farm is a registered charity, number 1190911, and is consliluled under a Foundation CIO Constitution. b. Methods of appointment or election of Trustees The management of the CIO is the responsibility of the Trustees who are elected and eo-opted under the terms of the CIO Constilulion. There musl be al least three Trustees al any time and the maximum number of Trustees is twelve. Every Trustee musl be appointed lor a term ol three years by a resolution passed at a properly convened meeting of the Trustees. In selecting individuals lor appointment as Trustees, they musl have regard lo the skills, knowledgg and experience needed lor the elleclive adminislralion ol the CIO. Members. liablllty 11 the CIO Is wound up. the members ol the CIO have no liability to contribute lo ils assets and no personal responsibility for sellling ils debts or liabilities. Page 5

MARKET FIELD FARM TRUSTEES, REPORT {CONTINUEDI FOR THE YEAR ENDED 28 FEBRUARY 2023 Statement of Trustees. responsibilities The Trustees are responsible for preparing the Trustees, report and the financial slalemenls in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel. The law applicable to charities in England & Wales requires the Trustees to prepare financial slalements lor each financial year which give a true and lair view ol the slate ol allairs of the CIO and ol ils incoming resources and application of resources, including ils income and expenditure, lor that peri¢JJ. Sn preparing these financial slatemenls, the Truslees are required lo.. select suitable accounting policies and then apply them consistently- observe the melhods and principles ol the Charities SORP IFRS 1021,. make judgments and accounting eslimales that are reasonable and prudent., slate whether applicable UK Accounting Standards IFRS 1021 have been followed, subject to any material departures disclosed and explained in the financial slalements.. prepare the financial slalemenls on the going concern basis unless il is inappropriate lo presume that the CIO will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and oxplain the CIO'S transactions and disclose with reasonable accuracy at any lime the financial position ol the CIO and enable them lo ensure that the financial slalements comply with the Charities Act 2011, the Charity (Aecounls and Reports) Regulations 2008 and Ihe provisions ol the CIO Constilulion. They are also responsible lor safeguarding the assets ol the CIO and hence lor taking reasonable steps for the prevention and detection ol fraud and other irregularities. Approved by order ol the members ol the board ol Trustees and signed on their behalf by.. Naoml Andrews Chair Dale.. I q TrowLbof 1023 . Page 6

MARKET FIELD FARM INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 28 FEBRUARY 2023 Independent exarniner's report to the Trustees of Market Field Farm I'the CIO'I I report lo the charity Trustees on my examination ol the accounts ol the CIO lor the year ended 28 February 2023. Responsibilities and basls of report As the Trustees ol the CIO you are responsible lor the preparation of the accounts in accordance with the requirements of the Charities Act 2U111'lhe 2011 Act'l. I report in respect ol my exarninalion of the CIO'S accounts carried out under section 145 01 the 2011 Act and in carrying out my exaniinalion I have followed the applicable Directions given by the Charity Commission under section 14515llbl ol the 2011 Act. Independent examiner's statement I have completed my examination. I conlirm that no matters have come lo my attention in connection with the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect ol the CIO as required by section 130 01 the 2011 Act., or the accounts do not accord with those records., or the accounts do not comply with the applicable requirements concerning the form and conlenl of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other Ihan any requiremenl that the accounts give a 'irue and lair. view which is not a matter considered as part of an independenl examination. I have no ¢oncerns 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 ol the accounts lo be reached. The CIO has received bookkeeping support from Grillin Ghapman in the year. I have applied FRC'S Revised Ethical Standard. Page 7

MARKET FIELD FARM INDEPENDENT EXAMINER'S REPORT ICONTINUEDI FOR THE YEAR ENDED 28 FEBRUARY 2023 This report is made solely lo the CIO'S Trustees, as a body, in accordance with Part 4 of the Charities IAccounts and Reports) Regulations 2008 My work has been undertaken so that I might slate lo the CIO'S Trustees those matters l am required lo slate lo them in an Indep8ndenl examiner's report and lor no other purpose. To the fullest exlenl permilled by law, I do not accept or assume responsibility lo anyone other than the CIO and the CIO'S Truslees as a body, lor my work or lor this report. Signed.. Dated.. 19 2013 hAr Daniel Aldworth FCCA FMAAT Grlffln Chapman Chartered Accounlanls 4 & 5 The Cedars Apex 12 Old Ipswich Road Colchester Essex C07 7QR Page 8

MARKET FIELD FARM STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 28 FEBRUARY 2023 Unrestricted fund$ 2023 Restrlcted funds 2023 Total funds 2023 Tolai funds 2022 Note Income from: Donations and granls Charitable activities Investments Other income 7,457 34,322 60.348 67.805 34.322 40,971 200 200 Total Income 41,979 60,348 102.327 40,974 Expendlture on: Charitable activities 55.415 29,646 85,061 21.73? Total expendlture 55,415 29,646 85.061 21,737 Net {expenditure}lincome Transfers between funds 113.4361 23,995 30.702 123.995) 17,266 79,23? 17 Net rnovement In tunds 10,559 6,707 17,266 19,237 Reconclllatlon of funds: Total funds brought forward Nel movement in funds 13.598 10,559 7,049 6.707 20,647 17,266 1,410 19,237 Total funds carried forward 24,157 13,756 37,913 20,647 The Statement ol financial activities includes all gains and losses recognised in the year. The notes on pages 1110 25 form part of these financial slalements. Page 9

MARKET FIELD FARM BALANCE SHEET AS AT 28 FEBRUARY 2023 2023 2022 Note Fixed assets Tangible assets 28.870 8,250 28,870 8,250 Current assets Debtors Cash al bank and in hand 4,797 8,577 653 13, 180 13,374 13,833 Creditors.. amounts falling due within one year 15 (4.3311 f7,436J Net current assets 9,043 12,397 Total assets less current liabilities 37,913 20,647 Net assets excluding pension asset 37,913 20,647 Total net as$ets 37,913 20,647 Charlty funds Reslricled funds Unrestricted funds 17 17 13,756 24,157 7,049 13,598 Total funds 37.913 20,84/ The financial slalemenls were approved and authorised for issue by the Trustees on and signed on their behalf by.. Naoml Andrews Chair The notes on pages 1110 25 form part of these financial statements. Page 10

MARKET FIELD FARM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023 General information Market Field Farm is a registered Charitable Incorporated Organisalion ICIOI which is incorporated in England and Wales. The principal office is Market Field School, School Road, Elmslead, Colchesler, Essex, C07 7ET. The registered number of the charity is 1190911. The object ol the CIO is lo help young adults with learning disabilities, autism andlor ADHD access meaningful employment. The CIO works with local people, companies and parish councils lo conserve natural habilals, create wildlile-lriendly gardens and help maintain public spaces with conservation and nature in mind. The CIO gives young people with learning disabilities a stepping stone into work. Accountlng policies 2.1 Basis ol preparation of financial statements The financial slalemenls have been prgpared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The financial slalemenls have been prepared to give a 'lrue and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the exlenl required lo provide a 'lrue and fair, view. This departure has involved following the Charities SORP IFRS 1021 published in October 2019 rather than the Accounting and Reporting by Charities." Statement ol Recommended Practice elleclive from 1 April 2005 which has since been withdrawn. Market Field Farm meets the definition ol a public benefit èntity Ljnder FRS 102. Assets and liabilititts are initially recognised al historical cost or transaction value unless otherwise slated in the relevant accounting policy. 2.2 Golng concern The Trustees consider that there are no material uncertainties about the Charitable Incorporaled Organisalion's ability lo continue as a going concern. 2.3 Income All income is recognised once the CIO has entillemenl lo the incorne, il is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are included in the Statement ol financial activities on a receivable basis. The balance of income received lor 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 enliilemenl ol roceipl, ils recognition is deferred and included in creditors as deferred income. Where enliilemenl occurs before income is received, the income is accrued. Income lax recoverable in relation lo investment income is recognised al the lime the investment income is receivable. Page11

MARKET FIELD FARM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023 Accounting poli¢ies Icontinuedl 2.4 Expenditure Expenditure is reeognised once there is a legal or constructive obligation to transfer economic benefit lo a third party, il is probable that a Iransler ol economic benefits will be required in settlèment and the amount ol the oblig21ion can be measured reliably. Expenditure is classified by aclivily. The costs ol each aelivily are made up ol the lolal ol direct costs and shared costs, including support costs involved in undertaking each aclivily. Direct costs allribulable to a single activity are allocated directly lo that aclivily. Shared costs which contribute lo more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consislenl with the use ol resources. Central stall costs are allocated on the basis of lime spent, and depreciation charges allocated on the portion ol the asset's use. Expenditure on charitable activities is incurred on directly undertaking the activities which further the CIO'S objectives, as well as any associated support costs. All expenditure is inclusive ol irrecoverable VAT. 2.5 Interest receivable Interest on funds held on deposit Is included when receivable and the amount can be measured reliably by the CIO,. this is normally upon nolificalion of the interest paid or payable by the inslilulion with whom the funds are deposited. 2.6 Tangible fixed assets and depreciation Tangible fixed assets costing £200 or more are eapilalised and recognised when lulure economic ben8lils are probable and the cost or value ol the asset can be measured reliably. Tangible fixed assets are initially recognised al cost. After recognition, under the cost model. tangible lixed assets are measured al cost less accumulated depreciation and any accumulated impairment losses. All costs incurred lo bring a tangible fixed asset into ils intended working condition should be included in the measurement ol cost. Depreciation is charged so as lo allocate the cost of tangible fixed assets less their residual value over their eslimaled useful lives, on a reducing balance basis. Depreciation is provided on the following basis.. Motor vehicles 25 /tt reducing balance method 2.7 Debtors Trade and other debtors are recognised al the settlerllenl amount after any trade discount offered. Prepayments are valued al the amount prepaid nel ol any trade discounts due. 2.8 Cash al bank and in hand Cash al bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the dale ol acquisition or opening of the deposit or similar account. Page 12

MARKET FIELD FARM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023 Accounting policies (continued) 2.9 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance sheet dale as a result ol a past event, il is probable that a Iransler ol economic benefit will be required in selllemenl, and the arnounl ol the selllemenl can be eslimaled reliably. Liabilities are recognised al the amount that the CIO anticipates it will pay lo settle the debt or the amount il has received as advanced payments lor the goods or services il musl provide. Provisions are measured al the best estimate ol the amounts required lo settle the obligation. Where the ellecl ol the lime value ol money is material, the provision is based on the present value of those amounts, discounted al the pre-tax discount rate that reflects the risks specific lo th8 liability. The unwinding ol the discount is recognised in the Slalement ol financial activities as a finance cost. 2.10 Flnanclal Instruments The CIO only has financial asse18 and financial liabilities of a kind that qualify as basic financial instrLJmenls. Basic financial instruments are initially recognised at transaction value and subsequently measured al their settlement value with the exception ol bank loans which arg subsequently measured al amortised eosl using the effective interest method. 2.11 Penslons The CIO operates a defined contribution pension scheme and the pension charge represents the amounts payable by the CIO to the fund in respect ol the year. 2.12 Fund aecountlng General funds are unreslricled funds which are available lor use at the discretion ol the Trustees in furtherance ol the general objectives ol the CIO and which have not been designated lor other purposos. Reslrict8d funds are funds which are lo be used in accordance with specific reslriclions imposed by donors or which have been raised by the CIO for particular purposes. The costs ol raising and administering such funds are charged against the specific fund. The aim and use ol each reslricled fund is sel out in the notes lo the financial slalemenls. Investment income. gains and losses are allocated lo the appropriate fund. Page 13

MARKET FIELD FARM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023 Income from donations and grant$ Unrestricted Restricted funds funds 2023 2023 Total lunds 2023 Donations Grants 3,957 3,500 2.750 57,598 6,707 61,098 7,457 60,348 67.805 Unreslricleu funds 2022 Aeslricleo funds 2022 Total funds 2022 Donations Grants 2. 102 14.269 2, 102 38,869 24,600 16,371 24,600 40,971 Income from charltable a¢tlvltles Unrestricted funds 2023 Total funds 2023 Tolai funds 2022 Market Grows contracts 34,322 34.322 Investment in¢ome Total funds 2023 Bank interest Page 14

MARKET FIELD FARM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023 Investment incorne (continuèd) UnrestriGI80 funds 2022 Tolai funds 2022 Bank interest Other incoming resources Unre$trleted funds 2023 Total funds 2023 Total lunds 2022 Other income 200 200 Analysis of expenditure on ¢harltable actlvlties Summary by fund type Unre$lrlcted Restricted funds funds 2023 2023 Total 2023 Market Grows 55,415 29.646 85,061 Unreslricleo funds 2022 Reslricleo funds 2022 Total Market Grows 4,186 17.557 21,737 Page15

MARKET FIELD FARM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023 Analysis of expenditure by activities Activities undertaken directly 2023 Supporl costs 2023 Total funds 2023 Market Grows 72,536 12.525 85,061 Activities undertaken directly 2022 Support costs 2022 rotai lunds 2022 Market Grows 78.88? 2,870 21,737 Analysls of dlrect costs Market Grows 2023 Total tunds 2023 Leadership staff ¢osts Beneficiary wages Contract costs 29,500 27,303 4,778 2,052 3,726 5,106 71 29,500 27,303 4,778 2,052 3,726 5,106 71 Tools and protective clothing Motor running costs Motor fuel Travel and subsistence 72,536 72,536 Page 16

MARKET FIELD FARM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023 Analysis of 9xp8nditure by activities {contlnued) Analysis ol direct tost$ {continued) Market Grows 2022 Total funds 2022 Leadership stall costs Beneficiary wages Tools and protective clothing Motor running costs Motor fuel 9,100 5, 782 1,713 1,335 93/ 9, 100 5, 782 1,713 1,335 937 18,867 78,867 Analysis of Support costs Market Grows 2023 Total funds 2023 Depreciation Insurance Computer costs Telephone Accountancy Bank charges General expenses Printing, postage and slalionery Advertising and marketing Subscriptions 3,375 893 3,375 893 351 172 351 172 4,118 4,118 176 163 3,249 27 176 163 3.249 27 12,525 12,525 Page 17

MARKET FIELD FARM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023 Analysis of expenditure by activities (continued} Analysis of support costs (continued) Market Grows 2022 Total funds 2022 Oeprecialion Insurance Computer Costs Telephone Accounlancy and payroll Bank charges General expenses 550 278 yoi 129 550 218 101 129 1,459 1,459 408 408 Total 202 2,870 2,870 Independent examlner's remuneratlon 2023 2022 Fees payable lo the CIO'S independfynl examiner lor the independent examination ol the CIO'S annual accounts 810 780 Fees payable lo the CIO'S independent examiner in respect of.. All other services not included abovtt 900 10. Staff costs 2023 2022 Leadership slafl wages Beneficiary wages Contribution lo defined contribution pension schemes 28,885 27,303 615 9,006 5.782 56,803 14.882 Page 18

MARKET FIELD FARM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023 10. Staff costs (continued) The averag8 number of persons employed by the CIO during the year was as follows.. 2023 No. 2022 No. Leadership staff Beneliciary workers No employee received remuneration amounting to more than £60,000 in either year. 11. Trustees. remuneratlon and expenses During the year, no Trustees received any remuneration or other benefits (2022- £NIL). During the year ended 28 February 2023, no Trustee expenses have been incurred (2022- £NIL). Page 19

MARK￿ FIELD FARM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023 12. Tangible fixed assets Motor vehicles Cost or valuation Al 1 March 2022 Additions 8,800 23.995 Al 28 February 2023 32.795 Depre¢latlon Al 1 March 2022 Charge for Ihe year 550 3,375 Al 28 February 2023 3,925 Net book value Al 28 February 2023 28,870 At 28 February 2022 8,250 13. Flxed asset Investments The CIO has a wholly owned subsidiary, Market Field Farm Limited. company number 11839779, a company limited by guarantee. The CIO owns the subsidiary by virtue ol being the sole member. The company is currently dormant. 14. Debtors 2023 Due within one year Trade debtors Prepayments and accrued income 2,740 2.057 553 4,797 653 Page 20

MARKET FIELD FARM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023 Creditors: Amounts falling due wlthln one year 2023 2022 Trade creditors Other laxalion and social security Other creditors Accruals and deferred income 47 1,536 1,038 1,710 86 1,350 4,331 1,436 16. Flnancial instruments 2023 2022 Finan¢lal assets Financial assets measurod al fair value through income and expenditure 8,577 73,180 Financial assets measured al lair valu8 through income and expenditure comprise cash al bank and in hand. Page 21

MARKET FIELD FARM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023 17. Statement of fund$ Staternent of funds - eurrent year Balance at Transfers 28 February inlout 2023 Balan¢e at 1 March 2022 Income Expenditure Unrestricted funds General Funds 13,598 41,979 155.415) 23,995 24,157 Restrlcted fund$ Essex Community Foundation Sullolk Community Foundation Eastern Counties Educational Trust Climate Mitigation Fund Sparta Global The Tree Council 5,900 1,149 11.000 9,600 17,900) 110,749) 19,000) 15,000 19,788 2.750 2.210 15) 18,242) 12,750) {14,995) 11,546 2,210 7,049 60,348 129.646) 123,9951 13,756 Total of funds 20,647 102,327 85,061) 37,913 Reslricled Funds.. The Essex Community Foundation fund is lo be allocated lo funding stall costs ol a new leadership team member lo lead a team ol young adults on gardening projects in Col¢hester and Tendring. The fund also financed the purchase ol a new truck, which has been transferred to unrestricted funds aller il was obtained. The Sullolk Community Foundation fund is lo be allocated lo covering staff costs 016 young adults with learning dillicullies and autism spectrum disorders lo work on a hedge and tree planting project with the Big Green Inlernel Project. The Eastern Counties Educational Trust fund was lo be allocated against the purchase ol a new truck lor use within Market Grows work. The asset was purchased in February 2023, and has been transferred lo unreslricled funds after il was obtained. The Climate Miligalion Fund is lo be allocated on funding stall costs of beneficiary workers and tools required on a project in collaboration with The Big Green Inlernel, lo plant trees on a site in North Essex. The Tree Council fund is lo be allocated towards the project labour costs lo carry out tree planting at the Stanway Community Centre sile. The project was lo be started in the next financial year. Page 22

MARKET FIELD FARM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023 17. Statement ol funds {continuod> Statement ol funds - prior year Balance al l March 2021 Balance al 28 February 2022 Income Expenditure Unrestricted fund$ General Funds 1,410 16,374 [4. 186) 13,598 Restricted fund$ Essex Community Foundation Sullolk Community Foundation 15,000 9,600 (9, 100) (8,451) 5,900 1, 149 24,600 (17,551) 7,049 Total of funds 1,410 40,974 (21,737) 20,647 18. Summary ol fund$ Summary of fund$- ¢urrent year Balance at Transfers 28 February Inlout 2023 Balance at 1 March 2022 Income Expendlture General funds Restricted funds 13,598 7,049 41,979 60,348 155,4151 129.646} 23,995 {23,995} 24.157 13,756 20,647 102,327 185,061) 37,913 Page 23

MARKET FIELD FARM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023 18. Summary of funds Icontinuedl Summary ol funds- prior year Balance al l March 2021 BalanGe al 28 February 2022 Income Expenditure General funds Restricted funds 1,410 16,374 24,600 (4. 186) (17,551) 13,598 7,049 1,410 40.974 (21,737) 20,647 19. Analysls of net assets between funds Analysis of net assets between funds - current year Unrestricted Restricted funds funds 2023 2023 Total lunds 2023 Tangible fixed assets Current assets Creditors due within one year 28,870 13811 14.3311 28,870 13.375 {4.331) 13,756 Total 24,158 13,756 37,914 Analysls of net assets between fund$- prlor year Unrestricteo funds 2022 Reslrictea funds 2022 Total funds 2022 Tangible fixed assets Current assets Creditors due within one year 8,250 6, 784 11,435) 8,250 15,833 11,436) 7.049 Total 13,598 7,049 20,647 Page 24

MARKET FIELD FARM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023 20. Penslon commitments The Charity operates a defined contribution pension scheme. The assets ol the scheme are held separately from those of the Charity in an independen11y administered fund. The pension cost charge represents contributions payable by the charity lo the fund and amounted lo £615 12022 - £941. No amount was payable lo the fund at the balance sheet dale and therefore included in creditors. 21. Members. liability If the CIO is wound up, the members of the CIO have no liability to contribute lo its assets and no personal responsibility for sellling ils debis or liabilities. Page 25

Market Field Farm Independent Examination findings report for the year ended 28 February 2023

July 2018

The Trustees

Market Field Farm Market Field School School Road, Elmstead Colchester Essex, CO7 7ET

Firstly, we would like to express our thanks to all members of staff who assisted us in carrying out our Independent Examination work and we are grateful for the time they have taken to help with our queries.

Griffin Chapman are pleased to present this report for the sole attention of the trustees of Market Field Farm, which contains information from our independent examination work for the year ended 28 February 2023 including:

This memorandum is strictly confidential and although it has been made available to management to facilitate discussions, it may not be taken as altering our responsibilities to the charity arising under our independent examination engagement letter. The contents of this letter should not be disclosed to third parties without our prior written consent. No responsibility is assumed to third parties.

Griffin Chapman 4 & 5 The Cedars, Apex 12 Old Ipswich Road Colchester Essex, CO7 7QR

15 December 2023

Yours sincerely,

Daniel Aldworth, FCCA, FMAAT

Partner, Griffin Chapman

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Contents

Description Page
Independent examination summary
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1. Findings and recommendations from our independent examination
5
2. Matters raised in previous year’s findings report
6
3. Summary of journal adjustments
7
4. Independence and Ethics
8
5. Useful links and updates in the sector
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3

Independent examination summary

We have completed our independent examination of the financial statements for the year ended 28 February 2023.

We as the examiner are not required to form an opinion as to whether the accounts show a true and fair view. Rather, the objective of the examination is to enable us to state whether, on the basis of procedures carried out, anything has come to our attention that causes us to believe that the accounts are not prepared, in all material respects, in accordance with the financial reporting framework. In other words, it is a form of negative assurance. For the purposes of expressing negative assurance, we should be able to obtain sufficient appropriate evidence – primarily through enquiries and analytical procedures – to be able to draw these conclusions.

Other matters which may cause concern are reported on an exception basis, if they arise during the course of the examination.

Our independent examination is, therefore, not designed to identify all control weaknesses and the matters reported are limited to those deficiencies that we have identified during our work.

We have complied with the Independent Examination requirements and all threats to our independence, as identified to you, have been properly addressed through appropriate safeguards. No additional facts or matters have arisen during the course of the independent examination that we wish to draw to your attention and we confirm that we are independent and able to express an objective view on the financial statements.

Our Independent Examination Report

We anticipate that our independent examination report will be unqualified.

We have no concerns and have come across no matters in connection with the examination to which attention should be drawn in our report in order to enable a proper understanding of the accounts to be reached.

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1. Findings and recommendations from our independent examination

This section of our report includes our findings and recommendations that we identified during our examination work.

We have prioritised our recommendations into the following categories:

Observation and risk /
impact		 Grading Findings & recommendations Management response
and action planned		 Timescale and
responsibility for
implementation
A purchase invoice for a
large fixed asset purchase in
the year (truck) was
misplaced.
Medium
We recommend that all documents are kept
safe and filed safely away for retention within
the charity records. Evidencing the
expenditure with charity funds is important to
ensure the trustees are fulfilling their duties
and charity assets are not misappropriated.
It was identified that
controls are minimal
regarding cash transactions,
and in particular trustees
being able to evidence the
expenditure. Cash wages
payments to workers was an
area of regularity and risk.
Medium
We recommend that the charity insert
internal controls for multiple management to
sign off cash transactions. This will ensure the
validity of the transactions, and also protect
the trustees from any allegations of wrong
doing.
Since the year end, the beneficiary worker in
question has opened a bank account and now
gets paid by bank transfer.
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2. Matters raised in previous year’s findings report

The following table presents matters that have been previously raised in management reports and highlights where it is thought that actions are yet to be implemented.

Matters that have not yet been resolved will be shown in our examination findings this year once again.

Observation and risk
/impact		 Grading Findings & recommendations Management response and
action planned		 Timescale and
responsibility for
implementation

No findings noted last year.

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3. Summary of Journal Adjustments

The table below summarises the adjustments made to the accounts during our examination work, and agreed with the finance team;

Adjustments Balance Sheet
Impact £		 Statement of Financial Activities
Impact £
Per Draft Accounts presented for independent examination 37,913 17,266
Per Final Accounts to be signed by Trustees 37,913 17,266

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4. Independence and ethics

Facts and matters that bear upon our objectivity and independence

We confirm that we comply with the Ethical Standards for Independent Examiners.

Fees this year

We confirm that the fees charged during the year in respect of services performed for Market Field Farm were agreed with Naomi Andrews when our examination began, and are comparable to previous years.

There were no significant threats to our independence and objectivity identified during the Independent Examination work.

Griffin Chapman has processed the payroll for the CIO during the year. This task is completed by our payroll department, which have no involvement in the examination work. The payroll data is received from management, processed by our payroll department and computed, before the final reports and workings are sent back to management for review. This is not deemed to affect our independence.

Further services

Griffin Chapman offer a range of other specialist services.

We would be happy to discuss the scope of any other work and agree an estimate of the fee in advance of commencing activity.

Griffin Chapman have supported the CIO with bookkeeping services during the year. This work is undertaken my staff that are not involved in the independent examination. We have noted this fact in the examiners report within the accounts, and stated we have applied the FRC;’s ethical standards in regards to this.

Griffin Chapman are able to assist in the final preparation of the financial statements,. This work is computational, and your informed management then review and confirm the final draft of the financial statement and ensure they reflect the true position of the CIO.

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5. Useful links and updates in the sector

My Charity Commission Account

The Charity Commission plans to launch My Charity Commission Account, an online service for trustees, managers and accountants. The account will be the new way to access the Charity Commission’s online services from Spring 2023 and it will provide tailored support and information to help charities run their organisations effectively. It is also to be used by other people authorised by the charity, such as accountants or lawyers.

Online services to be made available include updating charity details, submitting annual returns, and making changes to a governing document, a charity’s name or financial year end.

Further details including how to setup the account can be found via the page: https://www.gov.uk/guidance/setting-up-my-charity-commission-account

Charities and Investment matters

In November 2022, the Charity Commission released an update on its investment guidance, Charities and investment matters: a guide for trustees (CC14) to reflect the Butler-Sloss ruling. This confirmed that it is progressing a wider redesign and update of CC14, including clarifications on social investments which are made under separate powers. It confirmed that charities can continue to rely on the legal position in CC14 when making investment decisions. The Commission also stated that charity trustees’ primary and overarching duty is to further the purposes of the charity. Therefore they can, where appropriate, make financial investments designed only to secure the best financial return.

The effects on the balance sheet could include:

•Where new ethical investments have been made, the need to clearly assess the classification of the investments including determining whether an investment is a financial investment or in fact a social investment and the subsequent accounting and disclosures are appropriate; and

•The need to consider enhancing disclosures and information in the Trustees’ Annual Report and notes to the financial statements surrounding investments. This could include greater explanation of investment disposals and additions, investment policies, the types of investments held and purposes by which they are held.

An updated version will be published in the Summer 2023 on the page: https://www.gov.uk/government/publications/charities-and-investment-matters-a-guide-fortrustees-cc14

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4 & 5 The Cedars, Apex 12 Old Ipswich Road Colchester Essex CO7 7QR

Thank You

Thank you for your attention in reading our findings report. If you have any further queries, please do not hesitate to contact me on 01206 842000 or dan@griffin-chapman.co.uk.

Dan Aldworth, FCCA, FMAAT Independent Examiner

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