## **Trustees' Annual Report for the period** 

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

**From** 

**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** 

**TAR** 

March **2012** 

1 



|**Names and addresses of advisers (Optional information)**<br>**Type of adviser**<br>**Name**<br>**Address**|**Names and addresses of advisers (Optional information)**<br>**Type of adviser**<br>**Name**<br>**Address**|**Names and addresses of advisers (Optional information)**<br>**Type of adviser**<br>**Name**<br>**Address**|
|---|---|---|
||||
||||
||||
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## **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 

- (eg. trust, association, company) 

Appointed by the Trustees Trustee selection methods 

- (eg. appointed by, elected by) 

## **Additional governance issues (Optional information)** 

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

- policies and procedures adopted for the induction and training of trustees; 

- the charity’s organisational structure and any wider network with which the charity works; 

- relationship with any related parties; 

- trustees’ consideration of major risks and the system and procedures to manage them. 

## **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 

**TAR** 

March **2012** 

2 



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: 

- policy on grantmaking; 

- policy programme related investment; 

- contribution made by volunteers. 

**TAR** 

March **2012** 

3 



Section D                      Achievements and performance 

**Summary of the main achievements of the charity during the year** 

In the past twelve months we have: 

- Secured further contracts to deliver conservation, gardening and maintenance work. 

- Purchased an additional vehicle, equipment and set up a further team. 

- Supported 11 young people with autism and additional needs into work. 

- Built partnerships with other organisations and collaborated on projects. 

- Prepared and submitted a planning application for a  potential five acre site. 

- Developed a strategy and project plan for the next one, two and five years. 

**TAR** 

March **2012** 

4 



## **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: 

- the charity’s principal sources of funds (including any fundraising); 

- how expenditure has supported the key objectives of the charity; 

- investment policy and objectives including any ethical investment policy adopted. 

## **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 

**TAR** 

March **2012** 

5 



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: 

- Independent Examination opinion in accordance with section 145 of the Charities Act 2011; 

- Matters which arose which we consider should be brought to your attention; 

- Material adjustments and unadjusted amendments to the financial statements; and 

- Other matters, if any, arising from the independent examination that, in our professional judgement, are significant to the oversight of the financial reporting process. 

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 


2 



## **Contents** 


|**Description**|**Page**|
|---|---|
|**Independent examination summary**<br>4||
|**1. Findings and recommendations from our independent examination**<br>5||
|**2. Matters raised in previous year’s findings report**<br>6||
|**3. Summary of journal adjustments**<br>7||
|**4. Independence and Ethics**<br>8||
|**5. Useful links and updates in the sector**<br>9||





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. 



4 



## **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: 

- High– matters that we consider fundamental, against which management should take action as soon as possible; 

- Medium – matters that we consider significant, that should be addressed within a reasonable/ defined timeframe; and 

- Low – matters that merit attention and would improve overall control, or are options to promote better or more efficient practices 

|**Observation and risk /**<br>**impact**|**Grading**|**Findings & recommendations**|**Management response**<br>**and action planned**|**Timescale and**<br>**responsibility for**<br>**implementation**|
|---|---|---|---|---|
|A purchase invoice for a<br>large fixed asset purchase in<br>the year (truck) was<br>misplaced.<br>Medium<br>We recommend that all documents are kept<br>safe and filed safely away for retention within<br>the charity records. Evidencing the<br>expenditure with charity funds is important to<br>ensure the trustees are fulfilling their duties<br>and charity assets are not misappropriated.|||||
|It was identified that<br>controls are minimal<br>regarding cash transactions,<br>and in particular trustees<br>being able to evidence the<br>expenditure. Cash wages<br>payments to workers was an<br>area of regularity and risk.<br>Medium<br>We recommend that the charity insert<br>internal controls for multiple management to<br>sign off cash transactions. This will ensure the<br>validity of the transactions, and also protect<br>the trustees from any allegations of wrong<br>doing.<br>Since the year end, the beneficiary worker in<br>question has opened a bank account and now<br>gets paid by bank transfer.|||||
|5|||||





## **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**<br>**/impact**|**Grading**|**Findings & recommendations**|**Management response and**<br>**action planned**|**Timescale and**<br>**responsibility for**<br>**implementation**|
|---|---|---|---|---|



No findings noted last year. 



6 



## **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**<br>**Impact £**|**Statement of Financial Activities**<br>**Impact £**|
|---|---|---|
|Per Draft Accounts presented for independent examination|37,913|17,266|
||||
||||
|Per Final Accounts to be signed by Trustees|37,913|17,266|





7 



## **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. 



8 



## **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 



9 





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 




10