Charity number: 1190911 MARKET FIELD FARM UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
MARKEf FIELD FARM CONTENTS Page Reference and administrative detalls of the CIO. its Trustees and adviser$ Trustees. report Independent examlner's report Statement of financial activities Balance sheet Notes to the financial statements 10-24
MARKET FIELD FARM REFERENCE AND ADMINISTRATIVE DETAILS OF THE CIO, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 28 FEBRUARY 2025 Joanna Matthias, Trustee Gary Smith OBE, Chair Jennifer Fiudkins, Trustee David Bullock, Trustee Miranda Andras, Trustee Elizabeth Kuli, Trustee Charity registered number 1190911 Principal office Market Field School School Road Elmstead Colchesler Essex G07 7ET Accountants Griffin Chapman Chartered Accounianls 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 2025 The Trustees present their annual report together with the financial stalernents of the Charitable Incorporated Organisation I'CIO'I Market Field Farm lor the year from 1 March 2024 to 28 February 2025. Objectives and aetivitles a. Policies and objeetlves The objects ol the CIO are the relief ol need of young people with aulislic condition and learning dillicullies, in particular by providing resources, education, work experience and employment opportuni118s and lacililies. In setting objectives and planning for aclivilies, the Trustees have given due consideration lo general guidance published by the Charity Commission relating lo public benefit, including the guidance 'Public benefit: running a charity IPB21' b. Strategles lor achlevlng objectives To support 2 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 part ol the charity. This enterprise has created part time jobs lor people with learning disabilities, aulisrn and ADHD. Our long term strategy is lo establish a 'farm' 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 CoLJncil in December 2022. A special committee meeting was held on 27 November 2023, and a resolution for approval was passed lor the proposed site. This is a significant slep towards obtaining the farm site lo further our charity objectives. The Highways departmènt has approved the necessary plans. We are now in the process ol revising the plans in line with currently presenting opporlunilies and political developments. c. Activities undertaken to achieve objeclives Our intention has always been lo work with gxisling businesses. However, we soon realised the opportunities were not Ihere and we needed lo break down the preconceptions aroLJnd young people with disabilities. We therefore decided lo become an employer ourselves to support the long term strategy ol the charity. Research led us towards the green economy and helping businesses achieve their nel zero targets. It 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 Internel lo plant 46,024 trees between December 2021 and April 2022. Since Ihis lime, we conlinLJe lo grow and expand our reach across north east Essex. Our plans lor diversilicalion have proceeded due lo a major grant being made available by Tendring District Council. With this funding, we have purchased a Barista Van which will lead lo greater opportunities lor work lor a more diverse group ol young people. Page 2
MARKET FIELD FARM TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 28 FEBRUARY 2025 Objectives and activities (continued) d. Main activities undertaken to further the CIO'S purposes for the publi¢ benefit Continue with PR and marketing activities lo raise awareness of our charity and the challenges we aim lo combat. Building a strong network ol organisalions and businesses upon which we have formed strong collatx)rations lor partnership al our new sile. Worked with other organisalions lo sel up diseLJssion groLJP8 lor young people with SEN and autism, with their families and carers. Secured fLJrther contracts with local businesses for work, oijtside of the traditional planting season. Working with the Planning team al Tendring District Council lo support our current planning application. The diversilicalion into barista training. Employment ol a new part-lime Bid Writer lo help pursue and prepare funding appli¢alions. Following an organisalional reshullle alter CEO Naomi Andrews left Market Field Farm lo pursue new opportunitiès within the charity sector, the ollice team identified a gap in capacity lor funding applications and acted quickly lo address this before facing potential financial shortfalls. A successful application lo the Essex Community Foundation allowed the team lo create and recruit lor a new Bid Writer position. The grant enabled Market Field Farm lo introduce a team member lo this part-time fundraising role, signilicanlly increasing the ability lo identify and apply lor funding opportunities. This addition has slrenglhened the charity's overall r&silience and allowed the rest of the small office team lo focus more elleclively on their core responsibilities. Since beginning the role in October 2024, following recruilmenl and onboarding, Amy has been responsible lor managing the organisalion's funding bids and supporting the continued growth of the Market Field Grows project. Achlevements and performance a. Maln achlevements of the CIO Working alongside the Essex Wildlife Trust al Abboll's Hall carrying out Irge planting Sheep's wool mulching. The purchase ol a barista van which has been ulilised at different sites lo provide relreshmenis to local businesses. Spring SUDS Project - In a project funded by The Tree Council and Network Rail, the team planted a willow tree line and filled in a sparse existing Hedgerow along the field's boundaries. This planting scheme was designed lo add maximum benefit lo the fields many users by acting as a Sustainable Urban Drainage System ISUDSI, with the hope that flooding on the field will b& redLJced over the Winter, alongside adding benefit lo local wildlife and increasing biodiversity. The Grows 12am planted a line ol Goal and Purple Willow tree whips alongside the sports pitches lo act as the natural Sustainable Urban Drainagè System ISUDSI. In addition, they also Inlerplanled a further 1500 Hawthorn plants within the patchy hedgerow al the boundaries of the field on the North and South side, adding to the current mix ol Blackthorn and Hawthorn, with the aim of increasing security lo the sile and providing an improved wildlife corridor around the sile's perimeter. To protect the young trees, canes and biodegradable spirals were applied alongside 23 cubic melres ol natural mulch. The field is used during term lime by Market Fields School, a school lor pupils with Special Educational Needs that is part ol the Hope Learning Community, with which our charity is allilialed. Outside ot school hours it serves as an essential green space lor the wider community, hosting a local loolball leam, disability sports teams and members ol the public as an open green space. As the early summer was exceptionally hol and dry, our team worked within their planned allercare schedule lo reduce the weather presented lo the young plants. We have had a wondertul positive community engagement outcome in response lo the planting being completed. and the project has provided a valuable learning and training opportunity lor our team. We will add further updates lo the project's development lo our website as the Page 3
MARKET FIELD FARM TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 28 FEBRUARY 2025 Achievements and perfomiance (continued) team complete the planned project aftercare and maintenance. Maintaining a steady income lo cover salaries and running costs. Developing a network of potential partners and organisalions with which lo collaborate and generate further employment in our next year. Flnancial review a. Going concern The Trustees have a reasonable expectation that the CIO has adequate resources lo continue in op8ralional existence lor the foreseeable lulure. Overheads have been reduced lo ensure the charity has sullicienl reserves to deal with Iluclualions in levels ol work available. The Trustees continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. b. Reserves pollcy ReseNes are retained by the charity in order lo carry out repairs on the truck or general equiprnent used for the projects. Reserves would also be required for new equipment such as water tanks and lawn mowers. Generally, the Trustees aim lo have £3,500 in cash reserves. This sum would cover any unforeseen costs. c. Financial activities At the end ol the financial year the charity had increased cash reserves tolalling £16,299, compared lo the previous year of £1,095. The charity has fixed assets lotalling £22,835, being vans used lor Market Grows projects which were funded by grants received in previous year. Current liabilitiès tolalled £1,98512024.' £5,746), which was comprised ol day lo day operational costs oulslanding. The nei assets of the charity al the year end lolalled £44,155, compared lo £15,214 al the previous year end. Restricted funds held by the charity as al 29 February 2025 lotalled £22,36612024= £8.4481. These funds are detailed further wilhin the Slalemenl ol Funds notes. Structure, governance and management a. Constltutlon Market Field Farm is a registered charity, number 1190911, and is constituted under a Foundation CIO Conslitulion. Pag& 4
MARKET FIELD FARM TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 28 FEBRUARY 2025 Structure, governance and management (continued} b. Methods of appointment or election of Trustees The management of the CIO is the responsibility ol the Trustees who are elected and co-opted under the terms ol the Clo Conslilulion. There musl be al least three Trustees al any lime and the maximum number ol Trustees is twelve. Every Trustee musl be appointed lor a term ol three years by a resolution passed al a properly convened meeting ol the Trustees. In selecling individua15 lor appointment as Trustees, they musl have regard to the skills, knowledge and experience needed for the effective adminislralion ol the CIO. Members. liablllty 11 the CIO is wound up, the members ol the CIO have no liability lo contribute to ils assets and no personal responsibility lor settling ils debis or liabilities. Statement of Trustee$, responsibilities The Trustees are responsible lor preparing the Trustees, report and the financial stalernenls in accordance with applicable law and United Kingdom Accounting Standards Iuniled Kingdom Generally Accepted Accounting Praclicel. The law applicable to charities in England & Wales requires the Trustees lo propare financial statements lor each financial which give a true and lair view ol the slate ol allairs ol the CIO and of ils incoming resources and application ol resources, including ils income and expenditure, lor that period. In preparing these financial statements, the Trustees are required lo.. select suitable accounting policies and then apply them consistently., observe the methods and principles ol the Charities SORP IFRS 1021., make judgements and accounting estimates that are reasonable and prudent., stale whether applicable UK Accounting Standards IFRS 1021 have been followed, subject lo any material departures disclosed and explainod in the tinancial slalements., prepare the financial slalemenls on the going concern basis unless il is inappropriate to presume that the CIO will continue in business. The Trustees are responsible lor keeping adequate accounting records that are sullicient lo show and explain 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 slalemenls comply with the Charities Act 2011, the Charity IAccounls and Reporlsl Regulations 2008 and the provisions ol the CIO Conslitulion. They are also responsible lor safeguarding the assets ol the CIO and hence lor taking reasonable steps lor the prevèntion and detection ol fraud and other irregularities. Approved by order o mbers of the board ol Trustees and signed on their behalf by.. Ga Ch Date.. E////> Page 5
MARKET FIELD FARM INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 28 FEBRUARY 2025 Independent examiner's report lo thg Trustees of Market Field Farm {'the CIO.) I report lo the charity Trustees on my examination ol the accounts ol the CIO lor the year ended 28 February 2025. Responsibllltles and basis of report As the Trustees ol the CIO you are responsible lor the preparation of the accounts in accordance with the requirements ol the Charities Act 2011 I'the 2011 Acl'l. I report in respect of my examination ol the CIO'S accounts carried out under section 145 01 the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 1451511bl ol the 2011 Act. Independent examlner's statement I have completed my examination. I confirm that no matters have come to my allenlion in connection with the examination giving me cause lo believe that in any mat8rial 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 ol accounts sel out in the Charities IAccounls and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and lair, view which is not a matter considered as part ol an independent examination. I have no concerns and have come across no other matters in connection wrfth the examination lo 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 Griffin Chapman in the year. I have applied FRC'S Revised Ethical Standard. Page 6
MARKET FIELD FARM INDEPENDENT EXAMINER'S REPORT (CONTINUED} FOR THE YEAR ENDED 28 FEBRUARY 2025 This reF)Ort is made solely lo the CIO'S Trustees, as a body, in accordance with Part 4 01 the Charities (Accounts and Fleportsl Flegulalions 20a8. My work has been undertaken so that I might stale lo the CIO'S TruslÈes those matters l am required lo stale lo them in an Independgnt examiner's report and lor no other purpose. To the fullest extent permilled by law, I do not accept or assume responsibility lo anyone other than the CIO and the CIO'S Trustees as a body, for my work or lor this rgport. Signed.. Mr Thomas Maddocks Dated: Zo'L5 . FCA FMAAT Grlflln Chapman Chartered Accounlanls 4 8 5 The Cedars Apex 12 Old Ipswich Road Colchesler Essex C07 70R Page 7
MARKET FIELD FARM STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 28 FEBRUARY 2025 Unrestricted lunds 2025 Restricted funds 2025 Total funds 2025 Total lunds 2024 Note Income from.. Donations and grants Charitable activities 7,938 18.721 57,773 65,711 18.721 28,804 42,818 Total income 26,659 57,773 84,432 71,622 Expenditure on: Charitable activities 30.836 24,655 55,491 94,321 Total expendlture 30,836 24,655 55,491 94,321 Net {expenditure}lincome Transfers between funds 14,1771 19,200 33,118 {19,200) 28,941 {22,699) 15 Net movement in funds 15,023 13.918 28,941 (22,699) Reconciliation of funds: Total funds brought forward Net movement in funds 6,766 15.023 8,448 13,918 15,214 28.941 37,915 (22,699) Total funds carried forward 21,789 22,366 44,155 15,214 Tho Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 10 10 24 form part ol these financial slalements. Page 8
MARKET FIELD FARM BALANCE SHEET AS AT 28 FEBRUARY 2025 28 February 2025 29 February 2024 Note Fixed assets Tangible assets 22,835 75,887 22,835 15,887 Current assets Debtors Cash al bank and in hand 7,006 16,299 3.978 1.095 23,305 5,073 Current Ilabllltles Creditors.. amounts falling due within one year 13 {1,985) (5, 746) Net current assets I liabllitles 21,320 (673) Total a$sets less Current Ilabllllles 44,155 15.214 Net assets excluding pension asset 44,155 15,214 Total net assets 44,155 15,214 Charity funds Restricted funds Unreslricled funds 15 22,366 21.789 8,448 6,766 Total funds 44,155 15,214 The financial statements were approved and aulhorised lor issue by the Trustees on and signed on their behalf by.. aryls Chai ith OBE The notes on pages 10 to 24 form part ol these financial slalements. Page 9
MARKET FIELD FARM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 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, Elrnslead, Colchesler, Essex, C07 7ET. The registered number ol 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 wildlife-Iriend5y 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 of preparallon of tinancial statements The financial slalemenls have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Statement ol Recommended Practice applicab5e lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 lelleclive 1 January 20191, the Financial Fieporting Standard applicable in the UK and Republic of Ireland IFFIS 1021 and the Charities Act 2011. The financial slalements have been prepared lo give a 'lrue and lair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only lo the &xlenl required lo provide a 'lrue and lair, view. This deparlure has involved following the Charities SOFiP IFRS 1021 published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practic8 ellective from 1 April 2005 which has since been withdrawn. Market Field Farm meets the definition ol a public benefit enlily under FFiS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless otherwise stated in the relevant accounting policy. 2.2 Going concern The Trustees consider that there are no material uncertainties about the Charitable Incorporated Organisalion's ability lo continue as a going concern. They have considered the financial lorècasls lor a period ol al least 12 months from the dale these financial statements were approved, and believe the charity will have sullicienl reserves. 2.3 Income All income is recognised once the CIO has enlillemenl lo the income, il is probable that the income will be received and the amount ol income receivable can be measured reliably. Grants are included in the Sialement ol financial activities on a receivable basis. The balance ol income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance ol ènlitlemenl ol receipt, ils recognition is deferred and included in creditors as deferred incorne. Where enlillemenl occurs before income is received. the income is accrued. Other income is recognised in the period in which il is receivable and lo the exlenl the goods have been provided or on completion ol the service. Page 10
MARKET FIELD FARM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 Accounting policies Icontinuedl 2.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation lo Iransler economic benefit lo a third party, il is probable that a Iransler of econotllic benefits will be required in selllemenl and the amount ol the obligation can be measured reliably. Expenditure is classified by aclivily. The costs ol each activity are made up ol the total of direct costs and shared Costs, including support costs involved in undertaking each aclivily. Direct costs attributable lo a single activity are allocated directly lo that aclivily. Shared costs which contribute lo more than one activity and support costs which are not allribulable lo a single activity are apportioned between those activities on a basis consislenl with the use ol resources. Central staff costs are allocated on the basis ol 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 expendilijre is inclusive ol irrecoverable VAT. 2.5 Tangible fixed assets and depreclatlon Tangible fixed assets costing £200 or more are capilalised and recognised when lulure economic benefits are probable and the cost or value ol the asset can be measured reliably. Tangible fixed assets are initially recognised al cost. After rgcognilion, under the cost model, tangible fixed assets are measured al cost less accumulated depreciation and any accumulated impairmonl 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 ol tangible fixed assets less their rèsidual value over their estimated useful lives, on a reducing balance basis. Depreciation is provided on the following basis- Motor vehicles 25V/o reducing balance method 2.6 Debtors Trade and other debtors are recognised al the settlement amount after any trade discount ollered. Prepayments are valued al the amount prepaid nel ol any trade discounts due. 2.7 Cash al bank and In hand Cash al bank and in hand includes cash and short-lerm highly liquid investments with a short maturity of three months or less from the dale of acquisition or opening ol the deposit or similar account. Page11
MARKET FIELD FARM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 Accounting policies (continued) 2.8 Liabilities and provisions Liabilities are recognised when there is an obligation al the Balance sheet dale as a result ol a past event, il is probable that a Iransler ol economic benefit will be required in settlement, and the amount 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 to sellle the obligation. Where the ellecl ol the lime value ol money is material, the provision is based on the present value ol those amounts, discounted al the pre-tax discount rale that rellecls the risks specific lo the liability. The unwinding ol the discount is recognised in the Slalemenl of financial activities as a finance cost. 2.9 Financlal Instruments The GIO only has financial assets 2nd financial liabilities ol a kind that qualify as basic financial inslryments. Basic financial instruments are initially recognised at transaction valu& and subsequently measured al their selllemenl value with the exception ol bank loans which are subseqtjenlly measured al amortised cost using the elleclive interest method. 2.10 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 of the year. 2.11 Fund a¢counting General funds are unreslricled funds which are available lor use al the discretion ol the Trustees in furtherance of the general objectives ol the CIO and which have not been designated lor other purposes. Reslricled funds are funds which are lo be used in accordance with specific reslriclions imposed by donors or which have been raised by the CIO lor particular purposes. The costs ol raising and administering such funds are charged against the specific fund. The aim and use ol each restricted fund is sel out in the notes lo the financial slalemenls. Page 12
MARKET FIELD FARM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 Income from donations and grants Unrestricted funds 2025 Restricted funds 2025 Total funds 2025 Donations Grants 4,938 3,000 4.938 60,773 57,773 7,938 57.773 65.711 Unreslriclea funds 2024 Restrictea funds 2024 Tolai funds 2024 Grants 5,000 23.804 28,804 Income from charitable actlvltles Unrestricted funds 2025 Total funds 2025 Market Grows contracts 18,721 18.721 Unrestricteo lunds 2024 Tolai funds 2024 Market Grows contracts 42,818 42,818 Page 13
MARKET FIELD FARM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 Analysis ol expenditure on charitable activities Summary by fund type Unrestricted funds 2025 Restricted funds 2025 Total 2025 Market Grows 30,836 24,655 55,491 Unrestricleo funds 2024 Restricteo funds 2024 Tolai 2024 Market Grows 65,209 29,112 94,321 Analysis of expendlture by aclivities Activltle$ undertaken directly 2025 Support Costs 2025 Total funds 2025 Market Grows 39,716 15,775 55,491 Activities undertaken directly 2024 Support costs 2024 Total funds 2024 Market Grows 74,718 19.603 94,321 Page 14
MARKET FIELD FARM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 Analysis of expenditure by activities Icontinuedl Analysis of direct costs Market Grows 2025 Total funds 2025 Leadership staff Costs Beneficiary wages Contract costs Tools and protective clothing Motor running costs Motor fuel 2,594 15,949 5,265 10,902 2,714 2,192 2.594 15,949 5,365 10,902 2,714 2,192 39,716 39,716 Markel Grows 2024 Total lunds 2024 Leadership stall costs Beneficiary wages Contract costs Tools and protective clothing Motor running Costs Motor fuel Travel and subsistence 29,615 34, 136 7,284 481 3,589 5,553 60 29,615 34, 136 1,284 481 3,589 5,553 60 74,778 74,718 Page 15
MARK FIELD FARM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 Analysis of expendlture by activitigs l¢ontinued) Analysis of support costs Market Grows 2025 Total funds 2025 Deprecialion Insurance Computer costs Telephone Accountancy, bookkeeping and payroll fees 8ank charges and interest General expenses Printing, postage and slalionery Advertising and marketing Subscriptions Loss on diswsal ol fixed asset 7,612 1,128 230 7,612 1,128 230 479 4,637 337 479 4,637 337 13 654 216 460 13 654 216 460 15,775 15,775 Markel Grows 2024 Tolai funds 2024 Depreciation Insurance Computer costs Accountancy, bookkeeping and payroll lees Bank charges General expenses Printing, postage and slalionery Advertising and marketing Subscriptions Stall training Loss on disposal ot fixed assets Consultancy lees 5,296 996 403 5,296 996 403 4,659 414 4,659 414 120 120 29 29 179 719 216 216 665 663 5,688 1,000 5,688 1,000 Total 2024 19,603 19,603 Page 16
MARKET FIELD FARM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 Independent examiner's rernuneration 2025 2024 Fees payable lo the CIO'S independent examiner lor the independent examination ol the CIO'S annual accounts 750 700 Fees payable lo the CIO'S independent examiner in respect ol.. All other services not included above 850 800 Staff costs 2025 2024 Wages and salaries Beneficiary wages Contribution to defined contribution pension schemes 2.594 15,949 29,071 34, 136 543 18.543 63, 750 The average nurnber of persons employed by the CIO during the year was as follows.. 2025 No. 2024 No. Leadership staff Beneficiary workers No employee received remuneration amounting to more than £60,000 in eiih&r yoar. Tru$tees' remuneratlon and expenses During the year, no Trustees received any remuneration or other benefits (2024 - £NIL). During the year gnd8d 28 February 2025. no Trustee expenses have bgen incurred (2024 - £NIL). Page 17
MARKET FIELD FARM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 10. Tangible fixed assets Motor vehicles Cost or valuatlon Al 1 March 2024 23,795 19,200 18,800) Additions Disposals Al 28 February 2025 34.195 Depreclatlon Al l March 2024 Charge lor the year On disposals 7,908 7,612 14,1601 Ai 28 February 2025 11.360 Net book value At 28 February 2025 22,835 At 29 February 2024 15,887 11. Flxed asset investment$ The CIO had a wholly owned subsidiary, Market Field Farm Ltd, company number 11839779, a company limited by guarantee. The CIO owned the subsidiary by virtue ol being the sole member. The company had been dormant since incorporation. Market Field Farm Ltd was dissolved in the financial year on 18 June 2024. Page 18
MARKET FIELD FARM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 12. Debtors 28 February 29 February 2025 2024 Due within one year Trade debtors Other dèbtors Prepayments and accrued income 470 93 6,443 3,978 7,006 3,978 13. Creditors.. Amounts falling due wllhln one year 28 February 29 February 2025 2024 Trade creditors Other laxalion and social security Other creditors Accruals and deferred income 3,461 510 65 1,920 65 1,710 1,985 5,746 14. Flnanclal Instruments 28 February 29 February 2025 2024 Flnanclal as$et$ Financial assets measured al lair value through income and expenditure 16,299 1,095 Financial assets measured at fair value through income and expenditure comprise cash al bank and in hand. Page 19
MARKET FIELD FARM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 15. Statement of funds Statement of funds . current year Balance at Transfers 28 February inlout 2025 Balance at 1 March 2024 Income Expendlture Unrestrlcted funds General Funds 6,766 26,659 {30,8361 19.200 21,789 Restrlcted funds Essex Community Foundation The Big Green Inlernel Project Locality Fund ECC Lo¢al Community Fund Tree Council ECF Employment 5,471 2,977 5,471 5,096 6,658 8,724 23,710 10,356 8,325 14,5391 18,7241 14,5101 14,288} 12,594) 119,200) 6,068 5,731 8,448 57,773 124,655} {19,200) 22,366 Total ol fund$ 15,214 84,432 155.491) 44,155 Page 20
MARKET FIELD FARM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 1 S. Statemgnt of funds (continued) Reslri¢led Funds.. The Essex Community Foundation fund provided ILJnding towards stall costs of a new leadership team member lo lead a team ol young adults on gardening projects in Colchesler and Tendring. The fund also financed the purchase ol new equipment. The element towards new equipment was still being held al the year end. The Climate Miligalion Fund was provided lo fund staff costs ol beneficiary workers and tools required on a project in collaboration with The Big Green Internet. lo plant trees on a sile in North Essex. The Tree Council fund was lo fund project labour costs lo carry out tree planting al the Slanway Community Centre sile. The Big Green Inlernel Fund was provided lo fund staff Costs ol beneficiary workers on a project lo plant trees on a sile in Slanway. The Locality Fund is provided by Tendring District Council to fund tools and equipment, uniforms and towards working partnerships on projects lo provide work lor the young adults employed. These funds received were the first tranche ol the funding that follows into next financial year. The Essex City Council Local Community Fund was provided lo fund stall costs of both the leadership team and beneficiary workers on a gardening projeel. The fund was also for the purchase ol a barista van lo be ulilised as a new job opportunity for the beneficiary workers. The van was purchased in thè year and transferred to general funds. The Tree Council fund was provided lo finance the Willow SUDS project, where the leadership team and beneficiary workers will plant trees as part ol the tree planting programme. The fund also covered the materials required. The Essex Community Foundation Employment fund was provided lo finance the employment wages ol a new bid writer for the charity. The bid writer position was appointed in October 2024 and the fund started lo be ulilised. Page 21
MARKET FIELD FARM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 15. Statement of funds Icontlnuedl Statement of funds - prior year Balance al l March 2023 Balance al 29 February 2024 Income Expenditure Unrestricted funds General Funds 47.818 (65,209? 6, 766 Restrlcted funds Essex Community Foundation Climate Miligalion Fund The Tree Council The Big Green Inlernel Project Locality Fund 5,471 5,471 11,546 2,210 (11,546) (2,210) (10,356? 15,000) 13.333 5,000 2,977 13,756 23,804 (29, 112) 8,448 Total of funds 37,913 71,622 (94,321) 15,214 16. Summary of funds Summary of funds- current year Balance at Transfers 28 February Inlout 2025 Balance at 1 March 2024 Income Expenditure General funds Restricted funds 6.766 8,448 26,659 57,773 130,8361 124.655> 19.200 119,200} 21,789 22,366 15,214 84.432 155,491) 44,155 Page 22
MARKET FIELD FARM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 Summary of funds {continuedl Summary of funds- prior year BalanGe al l March 2023 Balance al 29 February 2024 Income Expenditu General funds Restrioled funds 24, 15? 13,756 47,818 23,804 (65.209) (29. 172) 8, 766 8,448 37,913 71,622 (94,321) 15.274 17. Analysis of net assets between funds Analysis of net assets between funds - current year Unrestricted Restrleted Total funds funds funds 28 February 28 February 28 February 2025 2025 2025 Tangible fixed assets Current assets Creditors due within one year 22,835 939 22.835 23.305 11,9851 22,366 11,9851 Total 21,789 22,366 44,155 Analysis of net assets between funds - prlor year Unreslriclea Restrictea Tolai funds funds funds 29 February 29 February 29 February 2024 2024 2024 Tangible fixed assols Currenl assets Creditors due within one year 15,887 (3,375) (5, 746) 15,887 5,073 (5, 7461 8,448 Total 6, 766 8,448 15,214 Page 23
MARKET FIELD FARM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 18. Pension commitments The Charity operates a defined Contribution pension scheme. The assets ol the schème are held separately from those ol the Charity in an independently administered fund. The pension cost charge represents contributions payable by the charity lo the fund and arnounled lo £nil12024.- £5421- No amount was payable lo the fund al the balance sheet dale and therefore included in creditors. 19. Membgrs, liablllty 11 the CIO is wound up, the members of the CIO have no liability to contribute to its assets and no personal responsibility for settling ils debts or liabilities. Page 24