Registered Charity Number 1193795 Registered Company Number 12267456 TIu5teeg Report and Hnancral Statements forthe year ended 31 Ortober 2024 *AEAZh6NN' 1￿)w2025 COMPANIES HOUSE 111 #267 Trustees, report and financl•l statements for the b*ar ended 31 Ortober 2024 Reference and administratNe detaits of the Charity. its Tru5tee% and it5 advisers Report of the Trustees Independènt Examinerfs Repcrt Staternentof Financial Activities Balance Str*et io Notes to the Flnanciol Statements 11-22 Refereno and admiTr15trntI￿ detsib ol the tharity. its trustees and ad¥lsws Charity Name CoFarni Foundation Charity Registration Number 1193795 Company registration Number 12267456 Principal and registered offite Allia Future Business Centre Cambridge Kings Hedge5 Road Cambridge CB4 2HY The Tru5ttss Mr Richard Brooks Dr Benjamin Cowem DfAwn Gupta Dr Laurn James Mrs Susan Pritchard Mrs Sally Vergette Independent Examiner J. Watkin FCA BA IHon51 Purple Cat Accountancy Limited 87 High8ate Road Wa15all West Midland5 WSI 3JA CoFarni Foundation Trustee5' report and finandal 5tatementsfor the year ended 31 Ortober 2024 The Trustees. who are directtys of the company forthe purp)ses of company law. present their annual report and unaudited financial statements forthe year ended 31 Ortober 2024. The prinapal artivities of the Charity are to promote for the public benefft the preservation and (￿ServatIon of the environment. particularly throu8h the advancement of 5U5tainable food production and methods. in particular but not exclusrvelv ￿.. al 5UklPOrtinE the establishment and mana8ement of I￿1 communityfarms: bl the advancement of sustainable farming wKtices that encourage stronger natural ec05VStems and greater biodiversity: cl promoting participation in co-farmi agroecological famiingl.. and dl advancing the education of cornmunities and the general public by conducting research and dissemin4ting educational materials encouraging8reatercon5eryation of thè physical and natural en¥ironmenL And. initiatr4QS I'susiainable community-based To advance the education of communitie5 and the general public in heath and nutrition bv conducting research and di5seminatiri8 educational matertJb. The organisation is • charitable Company limlted by guarantee. incorporated on 17 Ortober 2019 and registered as a charity on 12 March 2021. The Company was established under Memorandum of Assocration which established the objects and powers of the charitable Company and is govemed under its Artitles of Association. The Chartty has Èstablished two wholl*owned subsidiaries, vthichwere incorporated on the same date as the Foundation and which have the same registered office address. CoFarni Cambridge is a company limited by guarantee in England and Wale5 with company number 12268102. CoFarm Estate knmited 15 a company limited by shares in England and Wales. with company number 12267959. Board of Trustees The Difectors of the CoM￿nY We alw charltyTrustees for the purpose5 of tharity law and under the Compan￿$ ArtKles are known as members of the board ofTwstees. Under the requirements of the Memorandum and Articles of Assooation the members of the Board of Trustees are appointed to serve for a period of three years after which they may be re-elected. All member5 of the Board of Tru5tee5 8ave their time Voluntsrily and recetved no remuneration or benefits from the Charity in the year. No expense5 were reclaimed by the Tnjstees from the Charity duringthe year CoFarni Fwndallon Tru#ee< iewt and financial statements forth* ended 31 Ortober 2024 reflerted through the d￿￿[sity of tr* Trustee ar￿ ￿lieve that the breadth of know￿dge. experierKeandskbllscontributed ￿the members of the(￿r￿rtt 8oard ofT￿￿tee5 is appropriate in the current Scenar￿ in whith the Lfvrity is determir4ng its plan5 for wideswead imple￿￿n￿tIon of its d￿ritable objects. Risk Management The 8oard of Trustees identifies the majGY iiths to whr¢h the Chartty is exposed as they arise. As the Charityisstill in the relat4¥etyeartystsgesof fund rabsir¥andikterminationof its plansforbmplementing is objecbves. the rfsks durwyd the year have largetry been confir*d to the o&vation arKI finarKe5 of the Charity. TheTru5tee5 are satisfied that the Sfftms a￿ in pl￿t0 mitig*e their exposureto the major financial riskswhth have t￿n so identified and rewewed. The Board of Tnjstees that the need wffjll to mwate exp)sure to risks th implementation of its objectNes may ￿the Company to in respect of its abilrty to operate and to e￿Ure tompliarte the rÈquirÈmefts for I￿alth and safety of any staff. volunteer5 and beneficiaries, induding the e5rabl￿tr￿nentof Mtternal contrdswemsar41 pIc￿e5. Orpnlsational Structure CoFami Foundat￿)￿ has a Board ofTnstees meet we8ukrty and ¥È r￿￿1￿￿e for the stratwc direction, good govemance. and p)lioes of the Charity. At we5enL the Board has six members drawn from a variety of wofesyonal b3ck8rourth to carry out the initiol swe5 of fund raisir4g determination of ptarts for imptementing theChariVsobpctsNv. The Board ofTnth has appoirted a (hEf Executi* Officer is wesentlyvdunteering on a fvll. time basis) to whom it ddegates certain of its py*ers and day to day management of the FourKlation. to develop Choiity infvrtherarfeof tstharithobpc No paid empbyeeswrykeilforthE F(￿ndatIon duri￿the￿ar. Voluirteers Volunteering s *mportant to the Fourmlakn a￿1 tott* im5lemen￿I￿ of rfs model ofCoFam)ing. The Trn5tee5 have not incorwrated the vah* of brlunteerlr￿ a￿1 other nonosh conthbutions in the financial statements. £730(Kl h35 i*en reccynised in the finarKial staterr*nts for the ￿aT ended 31 October 202412024.. £7Z,C(KJl which relates to the full cost ￿ VI￿ of the fijll-time pro bjno charity develosxnent Serv￿ pr￿ided ty the wluntary ch￿ExeCUtiVe Offter tothe Foundati￿￿ CoFarni Foundall•)n Trustee< report and finandal statern￿ forthe year ended 31 Octobff 2024 Measuring proyess Key rnilestones are: •) raising suffKient funds to delNer a su¢cessful pilot of the FoundatKJn's model of CoFarmiryg at the communityfarm bein8estsblished by its 5ubydiary. CoFarm CamlxKJge. bl developin8 impart Monitori￿ franEwths and research partnership5 which win enable the Foundation to understand the value of its model of CDFarmingto envIrC￿ment and to scoery. cl devising è mechanL%m and resourcire Strat￿ for Scal￿￿uP the CoFarm model with arKI for commUnit￿S across the United Kingdom by2030. The extèmal en¥ironmenttor4rJIuntsry￿d community sectororganisatiotscontinL*d to present both operational and furtdrdiSI￿ thallerw across thè secwr durirg the reports￿ period. However, there have been several notewth 5￿ceSseS thi5 ￿ar. al The Foundatim was able t0rai5esul￿1ent I￿￿14n8 from ir￿*￿dUal (h)nors, ctywies and charitable trusts to continue to demon5tr*e ifs SLKcesS￿[ Fmlot of its 'CoFannirf model at the &Nlot community farm in Cambridge for a fifth sea50n. ￿ Cambridgè ￿10t contirthd to rrfefft support from its local uthority. Cambridge ¢JtyCouncil. The pik)t CoFami's marketgarden had its mostproductwe season to date, hawng0r8anica1￿ prod￿ed I)￿ lo.6t0nr￿ of wemium quality. fresh fruil and vegetables. Two of the Ufs best restaurants continued sourc1￿ frw"I Iwbs and ￿eta￿e5 from the fami at the lull market rate. simLdtaneowty Contributi￿ to the fami's financK41 security and providing a credible erKI(K5ement of the quality of its WO(kKe. Fresh valued at 04Er £22.5K wa5 donated to indiwduals and food justi￿ Organ￿*101￿ acr0$5 Cambridge to help address food insecurity and build eommunty resilience, brireingthetotslvalue prothjodonated bythe frdrmto0ver£125.6Xsi￿e Itwas establshed in 2020. As ¥￿1 as ¢*Thiing W￿duce, CoFarm cam￿dse.s trading Fxlot captured over £28K in fresh produces*sfr(Mn its'CoFèmws' Iwh)buyfoodfromthefarm ata 50% discounted ratel and from knal restaurants. The rnodel continuesto demO￿thatPrwnIuM qu*ty. agroecol0￿c31IY 8rown food can be made accewL4e to all. bl CoFarrfs iNlependent Tesearth partwshlpWrth￿ Unibv5itses OfReadI￿a￿l CfanfieldcThKinued to progresswell.This research is beingcOnd￿led byaPhDcand*Jate andco-supermsedfrom aodemrc5 from both research in51itsJtiors and Q)Fam Fourth"on's CEO. and thè PhD is funded by the UK Research & Innovation IUKRII Transformirg UK Systems StTatew PrN)li￿ Fund. It is envisaged thatthe research woie¢L whith cor*ludes injanuary 2026. will resu￿ in a Collerti¥E Impart Monf(oring Framewwk being d￿loped for CoFamJ. whKh will Ènablè all stskelM)Iders who are implemertlt￿ the CoFafm model to m0rtrt￿th￿rlmPart arcordingto ￿ same data stsThJard cl Tr* tase for scalin8 the CoFafft model across the UK strengthened a5 meaningfvl progress against mostof the UNSystainabk t*NeIopmentCthLs￿rrinUedtostrl1.se¥eraI r￿wstakeholdersfromacr0SS the UK have approached the charity with a yiew to IM￿.nE the model with fof their own communities. in Partd￿ to n*itinal eywjsurethatthe CamIX￿ge pilot recefvEd ￿ bel￿ featured on prime-tirne te￿viSI(￿. ￿ 88CC￿ntryrde. CoFami Foundation Truste￿ report and finandal Statem￿l0rthÈ ended 31 October 2024 Report olthe Truste*5 continud_ Deliverlng publk benefft The Tr{￿ee5 ha￿ refeffed to the guidan￿ in the CharFty Commission's general guidance on blic benefit when reviewing the charit￿$ amns and obiecknts in planning its future ¥tivities. In partiojlar, the Tft￿tees consider ￿nned ￿￿¥1¢￿5 will corrtriiMJte to the arms and objerti¥E5 that have been w. The Foundation aims to facilitate the ertab1￿hMent of a wmrThJnity farm to wnplement its mc¥el of CoFamiing in ea¢h Local Authtyity area the UK ty 3X). Reali5irE this amb￿0￿ would deliver substantial aNI su5tsinable wblic benefiL The Foundation u￿tinUedtt>Klen￿fyo netswkofco1k4t￿atr.rostsk￿Ide￿and pr05pecbvefunders in 0rdert0securethefuNts￿ estsbftshthe part￿thp5 ￿￿1redfw￿fip1ernentrr*1tsobIec￿veSat5cd1e. On 14 July 2025 the Tntstees detwmir*d that the F￿nd￿￿￿'S T*holty omied subsidrary. CoFam? CamtiricÈe, wll ￿se trading in 2025. The Board approved the intention that operatKinal dellvery a￿1 management of the pih)t CoFam could trnnsfer. al0￿ with the assets of thè farm, to ar#)t￿r asset. ¢ked ¢ommunitythsed OT8anisation. This *￿Uld be in Ilre with thè Foundation's strategy to social franthi5ethe CoFam model and to community-ba5ed OWdfi58tK)n5 acrossthe UK and to channel Charitab￿ resource5 to them. in accordan￿ with its Grants Poly. to facilrtate their establishment and HDandal re¥lew Hnancial p•forn)ance The￿NItIeS0ftheCryaryforthe￿ar eth31¢Xtober2024resultedinaswphJs of£19,(MM12023: E27.2441.TheactMtiesof the companyf0rthis￿arha￿P fttusedonersuring that the organisathin has stron8 financial and opera￿nal 8ovemarKe in pla￿ in order to secure the resour￿5 needed to deltver the Charl￿5 obiec The matn trans&tions during the year COm￿lse￿ ￿nt Thwktrg other admiNstrnti¥* expenses. The Charity 15 still in the Comparati%e￿ ealty strges of b￿ndra￿￿va and de￿rnent of its ￿n$ for Implementing its otl'ecti￿. As such, the fi￿ar￿1￿* ofthe CompaFry has comswd ratsing s{￿h fvnds as considered netwary by the Board of Tr￿tee5 to fomi sUffic￿nt *rwking rafftl for these purposes. Funds to date have teen raised from indviidual and corwxate doThys. grant making orrdnisations and 15ecured k)ans made to tt* FwrKlè￿Tr on non•lorn other r￿￿9￿1$¢d galng {1.34n 20,351 19,004 27.244 Tran51er Ixiween funds N•t movement In lunds 11347) 20,351 19,004 27.244 R8¢ontlllatlon ol lunds balance at 1 Noverrthr 2023 17 153J541 147,8541 175,0981 Fund balance at 31 O¢tober 2024 17 {54.701} 25,851 128.8501 147,8541 The a¢companyino notes form part of these f¥Hncaa statem&rts. The statem•nt ol finarttxal *i¥itw inc*Jdes al g•ns arnl losses recO￿ls8d year. l activities derive from conliruir¥J Operab￿$. CoFami FouTrdatlon 31 October 2024 Statsm•nl ol Anan¢i•l Postti Reglst•rnd comwy number: 12287456 2024 2023 Flx•d assets Investrnonts Tangible l¥xed assets. Iniangit4e fixed assets 13 1.952 6.325 12 Currnnt asg Debtors Cash at b8nk aro in ha￿1 14 16.241 37.064 33.940 53.305 38.839 Cr•dltors: a￿￿4jnts fa￿A9 thje withtn ono year 15 14.901) 12.7651 Nat current a8gets 36,074 cr•dIto￿." amwnts tal￿ng due after year 16 185.$32) 184.9691 Net Ill•bllllle$) 128.850} 147,8541 R•pr•senled by Unreslrlcled fur￿$ luNJs 17 153.2011 153.3S41 1&3.2011 153.3S41 Regtri¢ted lunds 17 24.351 5.500 Tolal 128.8501 147,8541 For the financial year in westion ts ¢wparry WAS enlitlwl to exty*)n Irom wjthl under wtion 477 01 Iha Cornpanles P£t 2(K)6 TelatiThJ tr) small ￿￿18S No rnembors have required the ¢ompany to obtwn an a￿lit d ts ace¢JJnts for the yeaf in qu6stN)n in aC￿rdanCe with section 476 of tho compan￿ ALI 2006. The director3 ad(nowknlge their respon5tAity with thè requirements of Ihe Aclwith resF*Ct to accounting r￿)rrI$ aThJ lor ihts preparatK)n ol awwnts. These a¢eounts have been prepared in the wo¥1$K￿ to S￿48¢t to the small companies. fegime. Npproved by th Bgn Cowebl The a¢¢ompawr4J n￿e$ lorm part ol fywxa"81 slatem¢rl& 10 CoFaYm F•)und*ion YO•r•￿ed 31 Odobw 2024 Notes to the Flnanual St*ements 1. G•nwal Infonnatlon The charity is a public benefit entity and a private company limited by guarantee, reg¢stered in England and Wales and a registered charity in England and Wales.The address of the re8iSteredoffice is Allia Future Business Centre. Ktngs Hedges Road. Cambridge. CB4 2HY. 2. Statsment of compliance These financial statements have been prepared in Complian￿ with FRS 102. Tr.Financlal Reporting Standard applicable in the UK and the Republic of IreIar￿'. the Statement of Recommended PractKe applicable to charities preparin8 their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland IFRS 1021 (Charities SORP IFRS 1021) and the Companies Act 2(N)6. A¢countlng polkles Basls of prepamlon The financial statements have been prepared on the historical cost basis. as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fairvalue through irbcome or expenditure. The financial statements a￿ prepared in 5terlin8, whi¢h is the functional currency of the entity. At 31 Ottober 2024the balance sheet shows net liabilitiesof £28.85012023- net liabilities of £47.8541. These liabilities include loans from H Shefton of £77.372. repayment of which is contingent on the mpany havrnga positive net as￿ wsition. Additionally, there are pre-incorporation expenses amounting to £8.160 whkh will only be repald upon condition of the company hawn8 wfficient tunding to do so. Excludin8 these liabilities. the charity has net assets of£48,522. The Trustees consider thatthere are no material uncertainties aboutthe charitable companVs ability to continue as a goin8 concern and have Pfep4red the financral stateme1￿ on this basi5. The decisM)n to cease operating CoFarm Cambridge has no¢ arHI is not. expected to change this assumption. Dlsclosure exwipitons The entity 53tisfies the ¢riteria of being a qualrfying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102.. lal No cash flow statement ha5 been presented for the company. Ib} Disclosures in respect of financial Instruments have not been presented. Judgements and key SOUTees of •stlm*tl¢*n unc* The preparntion of the financial statements requires management to make jud8ements, estimates and assumptions that affett the amounts reported. These estimate5 and judgements are continually reviewed and are based on experience and otherfactor5. includin8 expectations of future events that are believed to be reasonable under the Circumstance CoFann FowKlati Y￿r •nd•d 31 Octobw 2tr24 Notes to the Finanoal stateme￿ c•kninued_ Fund at income from contr3¢ts for the supply of Servi￿ is recognised wrth the delivery of the contracted servi￿. This is classified as unrestricted fund5 unless there is a contractual requirement for tt to be spent on a particular purpose and returnèd rf uftspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as allability is incurred. Expenditure includes any VAT which cannot be fully recovered. and is cL75sthed under headings of the Statement of financial activities to which it relates.. expenditure on raisin8 fvnds includes the costs of all fundraislng actmties. events, non- charitable trading activities, and the sale of donated good5. expenditure on charitable activitles includes all costs incurred by a charity in undertaklng ctivities that further its charitable aims for the benefrt of its beneficiaries, including those support Costs and costs relating to the governance of the charity apportK)ned to charitable activities. other expendttLtre includes all expenditure that is neither related to raising funds for the tharity nor part of its expenditure on charitsble aciivitie5. 12 CoFarm Foundatlon Yo•r •nd•d 31 Octobw 2024 Notes to the Finandal Stalefflents ¢ontlnued_ All costs are allcKated to expenditure categories fefiectirvd the use of the resource. Direct Costs attributable to a &n8le artivity are allocated dirertfy to that a¢tivity. Shared costs are apportioned between the activities they contribute to on a reasonable. Justifiab￿ and consistent ba51S. Tanelble a55ets Tan8ible assets are inltially recorded at C05t, and yjbsequently stated at tost less any èctumulated depreciation and impairment1055es. Any tsngible assets carried at revalued amounts are worded at the fair value at the date of revaluation less •iy subsequent accumulated depreaation and subsequent ac¢umulated impwrment Ios5e5. An increase in the carrying amount of an a55et as a re5ulr of a revaluation. is recognised in other recognised gains and losses, unle55 It reverses a charge for impairment that has previousty been recognised as expenditure wTrthin the statement of fina￿131 actMtTres. A decrease in the carrying amount of an asset as a result of revaluat￿. is reCOgn￿ed in other recognised gain5 and 1055e& except to which It offsets any previous revaluation 8ain. in which case the loss is shown within other recognised gains and losses on the statement of financial activit￿5. Oepredatlon Depreciation is calculated so as to write off the cost or ￿luatIOn of an asseL less Its residual value. over the useful economic life of that asset as frAIows= Computer equipment 33.33% an a straight line basis A review for indlcators of impaimient ts Carried out * each rei*xtlng date. with the recoverable amount being estimated where such indicators exisL Where the carrying value exceeds the recoverable amount, the asset is impaired a¢corth"n8ly. Prior impairments are also reviewed for possible reversal at eath reportin8 date. For the purFK¥se5 of impairment testin& when it is not possib5e to estimate the recoverabk amount of an individual asset, an estimate is madÈ of the recoverable amount of the ca5h-generating unit to which the asset belongs. The ca5h*enerating unrt is the smallest identifiable group of assets that Includesthe assetand 8erteratesca5h inflowsthat large￿ independent of the cash inllows from other assets or groups of assets. 13 CoFarm FoundatioTr Y*•r ond•d 31 O¢tobgr 21Y24 Notes to the Finanoal Statements ¢ontlnued_ Intan8lble fixed assets The chartty has intangtble fixed assets. that is. non monetary assets that do not have physical substance are identifiable and are controlled by the charity through custody or legal rights. Intangible assets are measured at cost and are amortised over thelr useful lrfe 3$ follows: Trademarks: (￿er 10 years on a 5trai6ht-￿ne basis Finandal InstNments A financial asset or a financial liability is recognised onEy when the entity becomes a party to the contractual prowsions of the instrument. Basic financial instruments are initialty re¢ognised at the amount re￿1¥able or pa￿able including any related transaction costs. unless the arrangement constitutes a financing transaCt￿n, where it is recognised atthe presentvalueof the future payments discounted at a market Tate of interest for a similar debt instrument. Current assets and current liabilit￿$ are subsequertly measvred at the cash or other consideratK)n experted to be paid or received and not dixounted. Debt instruments are subsequently measured at amortised cost. Cr8thtors •nd provlslo Creditors and provlsion5 are reco8nised vthere the charity has a present obligatlon resulting from a past event that will probably ￿sUIt in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated ￿lIablY. Creditors and provision5 are normal recognised at their settlement amount after allowing for any trade discounts due. TaxalloTh CoFarm Foundation is a ￿gIstered chaTity and is exempt from ¢orporation tax on income and gains to the extent they are applied to its charitable objects. No tax char8e5 have arisen in the charity. 4. Llmll•d by guarantee CoFarm Foundation 15 a company limited by8uarantee and accordingly does not have a share capital. Every member of the company undertakes to contribute such amount as rnoy be reoulred, not exceeding £1. to the a55ets of the charitable company in thè event of its bein8 wound up v•hile he or she is a member, orwithin one yearafter he or she cease5 to be a member 14 CoFami Foundation Y#r end￿ 31 October 2024 Notes tothe Flnandal Stalern￿ cortlnue Volunw Totsl Total Grnnts Other grants r¢¢er4able 81,103 116.103 110,985 o￿allonS IlnduthrwJ gtft Donations in kind 10.291 3,750 14,047 718c4J 21,499 72,000 119,091 203.944 204.484 In 2023 £123,999 01 Y￿￿rtary income was allrtxrtth to unreSt￿ed arKI L80.485 was attribulabb to re$l￿ed fuw¥Js. Charllo*A• •¢ll¥ltl•4 Total 2.150 Operotlng ￿1p1￿5 2024 2023 Thtr op*atirg def￿rt IS￿pIuS is arrNed at aller cWry: Depreciation ol tary1b￿ trAed assets Amortisation of Intang￿￿ assets 1.373 275 1,474 15 CoFami Found*ion Y••r •ntsd >1 Octob•T 2024 Notes to the FThnrial statements continued_ Exp•nditur• Charitable grar Staff costs Training 63.331 79,475 72,000 2,923 12.5M 13.534 Repairs maintena Adv8rtisirvJ and rnarteting Legal expenstr5 rr, Soliware and consumabfes Telephone and internet Printing, postage and stthnery Subs¢riptions Insurance Wortd Food Day Trav￿ and subsislence Rernoval fees A¢countancy lees Deweciation Amortisaiion Entertaining Loan intgTesl Bank lees Fines aThJ penalt 19.848 1.340 549 333 283 3.560 1,919 181 2.173 1,415 2.700 1.373 275 2.928 1,474 562 100 186,440 179,390 Staff c0515 in 2024 and 2023 relate to work uThkrtaken vokjntarily by G Shefton lor which fto payment has been made. A donairon rn ktThJ amount lor the same value has t￿n ir￿lUded in yo￿ntary incomg. 1 grants with the exc8ption 01 £1.(XXI paKJ to were thg COM￿￿$ subsid1￿ undgrtakiThJ CoFa¥rn Cam￿1$3￿ lo urKJerlakg &￿Jg¢t deknvory. Ind¢pwxkrt Examlneffslees 2024 Fees payable 2.700 2.700 16 CoFarrn Foundation Y￿1 •nd•d 31 O¢tobgr 2024 Notes to the Financial Statements conllnueL. 10 r•munera No truslee or other person r8lat8d to th& thaiity had any personal interest in any contract or transacb'on entered by tharity dwing th¥ year. ExFertses of £nil12023'. £ndl were rtrimbursed io trustees duiin9 the year. 11 Tanglble flxed •ssets equipmwt At 1 November Addibons 4038 2,285 4,838 2,285 At 31 October 2￿4 7.123 7.123 At 1 November 20>J Charge lor year 3,798 1,373 1.373 At 31 October 2024 5,171 S.171 Net book va At 31 October 2024 1,952 At 31 O¢tobw 2Q3 1.040 17 CoF•rn) Found*ion Year ended 31 Oc*>bw 2024 Notes to the financial stst£Me￿ conllnued_ 12 Intsnglblo flxed •880ts Trndm Total At 1 Novembw 21Y23 Addilions At 31 OctthT 2024 6.600 Arnortlsallon At 1 Nov8mb8r 2023 Charge lor year -275 275 At 31 2024 275 275 At 31 Octrixr 2024 6,325 At 31 (ktcthr 2023 18 CoFarm Foundatlon Y￿1 •nd•d 31 Ocl¢)btr 2tr24 Notes to the Financial Slatements eontiiiued_ 13 knvesknonis CoFam Foundation owns 100% ot ￿ issued capt￿ {U} ol CoFarm Estalg Limited. ￿Farrn Eslato Lirniled has not yet tradwvj. CoFarm FouTrYation has effectivecontrol¢)v¢rCoFarm C•)￿￿e, a Cl￿panY bmited by guarantee wrth no Issu￿ share ¢aptsl by ￿rt￿t ot the laet ttknit CoFarm Fou￿jaI￿ is the sole member of CoFami Cambr*e. The Directors have not wepar¢d ts)nSOlida￿ accounts as the gros5 iro)me of the group, after elirninatiro intra 9row tranSac￿ts arKI C4Jns01ida￿n wJNisiments o)gs not exceed £1 mili¢)n. The Prothl aTh1 Loss for the year endi￿ 31 lknt*r2024 and Bala￿ shèèt al 31 oct￿ 2024 01 CoFarm Carnbrksje is sho¥m bekn*. Thtr subsidiary genwatsj a net loss of £12,&59 P023: £1.398 k)ssl fty yèar. On 14 JU￿ 2025 the Direrftys ol CoFaTh CamWe ar*J ts parorn charity. CoFami Foundalion. resofved that CoFam Cathmlge I￿UkI ￿ase trwjirg with immediate effect. CoFami C•rnbrldgo 2024 2023 Turnover IwKludiry grarts WKI th)nalKJnsI Farm purchases 71,372 {10.3431 162,427) {85.7361 Net liossl IOT year 112.659) 11,3981 Balance sh••l Fixed ass&ts Current ass8ts Current lia￿dieS 19.012 26.760 165,7291 14.733 198.XJ21 Ngt Oithht¢esl 132.6161 119.957) 14 Trade d$btors Ot￿r debtors Arno¢Jnts owed by sutsKlary Prepayments 11.257 150 555 4.279 1.750 555 2.594 16,241 4.899 CoFami Foundation Y￿r ended 31 O¢tob•r 2tr24 Note5 to the Finandal stateme￿ contlnue 15 Cfedllovs fdllng unth 1 yvdr 2024 Trade creditCW5 Accru￿$ Amounts owed lo $th#*ary 2201 2.7(Y) 65 2,700 4.901 2,765 16 Credttors falllng due ov•r I LOa￿- H Sh¥tton Accnjals 77￿72 8.160 76.809 8.160 85532 84,969 Accfu* indude liabilrt￿ in rdation to ￿￿1r￿￿[￿￿aIIOfi expernyiture. The tymsolthe b)ans lft)m H Shelton Sta1eth*fepa￿nfWlInotbé made rfCoFèm F￿ndatiOn'S n8t assets at the time ol the demand are negative. 17• IAov•m•Tht In lunds {¢uffent y￿) B*lane•at 1 31 Octobor 2024 2023 In¢omlry C*oing Tranglers Gen￿￿ hJr*l 153.3541 120.591 154,7011 Total unregtricted tsnd• 153,3541 120.591 {121.9381 154,701> Restrfct•d lundg Climate ActK>n FuThY Cambr*s Crty Coun JP Jacobs charits￿O Trust 45.107 127.7701 133.9921 {2.740) 17.337 2.004 6.510 3,750 Totsl reslrleled fund$ 5.500 84.853 164,5021 25.851 Totsl fvnds 1470541 205.444 1186.440) 128,8501 CoFarni Foundatlon Y•ar•nded 31 oth1￿2 Notes to the FinaThrial Statements tortinued_ 17b Mo¥em•nt (wlor yw) Balance *t 1 Bolanc• at 31 Octob8r 2022 Incomlng Cxrtgolry TransleTS Gtneral lurnl (75.0981 126.149 1104.405} 153.3541 Total UnrnstrIct￿ funds 175,098) 126.149 1104.4051 153.3541 R•strICt￿ fvnds Illumina Corporate Fwndalh John AplhoTP Charity Ed￿aI￿jn SeThices 2010 Cambri(hJe Cty Coul JP Jacobs Chwitable Trust 24.174 20.811 {24.1741 {20.8111 15.LWI (25,0￿)1 S.SOO Totsl re11rfct￿ funds (74,9851 5.500 Totsl funds (75.CQ8} ￿￿.634 {179.3￿) 147.8541 Cllmats A￿lon A restrfcted grant totall1￿ £135. 669 OV8f y8aTS Irom The National Lotlery Cornmun￿ FuThJ'$ Clima1& Aclknn Fund commenced during th¢s fin¥￿aal perth. The grant is wiwpalty kn cov8r the ￿￿￿OYment ¢osts ol CoFwm Cambridge's first Community Engagement Cow(knatty. as wen as CoFamwrJ*d project acb"vilies, events, travel and asso¢iaied costs. A 15% ¢onthtnJtion io overheads ￿ i￿Ud￿j wrthin the grani. whth 15 retaine(1 by thè FouThJalion. The giant is part of a colabjrabve prograrrwne olW. Tr Rr¥w Cam CINnate Action Network lor 'Rivèr Cam CAN'I." W by Cambndge-bas¢d chanty Carnbrmlge Past. Prgsent and Future ICPPFI and governe¢J by a Partne￿h￿ Agreement bemeen the paibt>paimg orgawkn￿s and a Grant Agre&m$ni bth6en CoFarni Foundation and CoFarrn CambrKJge. Cambrfdgo Clty Councm This fund comprws ￿ r&SIr￿¢ grants la Communty Grant arxl a gjsiainablo City L¥athl mad8 throu9h a Single grant agfeemgnt between Carrts#*JB cty c0￿cl arnl CoFam Fwndathon. The grant was towards covering the opèra¢Knal cost5 01 CoFami Camtwicw d8lrrtrirg opn C0FaTm1￿ sessmms at its pilot CoFam in Cambridgg. JP J4¢¢)bs Ch•rttable Trust Two resbKiad grarrts for enabtirvJ thsèngaood yw p80ple to galn confKlgrKe and sklls by partlcipatirKJ in farm work al CoFam) Cam￿￿￿9&. The lunds not S￿ during the ￿F¥y¥lng period due to CoFaffli CambrK*Je's need to increase its capacity to safety work wlth chikI￿n and young pecple. A deLIKateLI Community Ermjagernent Coordinaior was recrL#ted in JLme 2024 and ¢tsmm¢n¢èd Ihts work as part of the River Cam prctyjramme lunded by Tho NalKThl Lollery arn1 b9gan dWebW"r￿ th8 farm's ass￿l&tOd saleguarding Fyoceduros and 21 CoFarm Found*•oTr Year •Dded 31 o￿o￿Or 2024 Notes to the Finan¢i•l 5tthments a)ntinued_ 18 Analys5$ ol nel a5S61s b•t*•on lunds lknrestrlcted R•8trtcted Tothl Fund$ Funds Funds Totrl Funds 2WJ Fixed assets Current assets Crediiors less than 1 year Creditors more than 1 ye 8,278 53.305 14.9011 185.5321 1,041 38,839 12,7651 184,9691 28.954 14.9011 {85,5321 24,351 153.2011 24.351 128.8501 147,8541 As at 31 Octcter 20ZJ, £5,SIXI ol cwreni TKS aItrbJt￿8 to restrthd fur¥Js DurirffJ th• year CoFaTh FwThJat¥)n rn&Je grants to CoFami Cathw*Je. a company in whic* CoFarm F￿Jndati0n has contrc4 ty virtue of the tart rt Is ihg sole memter ol CoFwm Cambridg•, amountirKJ to £62,&31 IW23.. £79.475}. At the year end CoFaFm Cambridgo owad CoFam F￿n(jath￿ £55512023.. £5551. Taxatlon As a¢harita￿e corryany, CoFarni Ftyjndation is exerrpllrun tax on incAJrne and gainstothe ext8ni tha1 these are applied lo rts charitat4è obJ"•LXs. No tax charges have arisen within thè charitablg ¢yJnwiy.