The Food Forest Prolert Charity No. 1202259 Trustees, Report and Unaudlted Accounts 31 March 2024 The Food Forest Project Contents Pages 2to3 Trustees, Annual Report Independent Examinerf5 Report Statement of Financial Activrties Summary Income and Expenditure Attount Balance Sheet Notes to the Accounts 8t013 Detailed Statement of Financial Activities 14to15 Page I The Food Forest Project Trustees Annual Report The trustee5 p￿sent their report with the unaudited financial statements of the charity for the period ended 31 March 2024. REFERENCE AND ADMINISTRATIVE DETAILS Charlty No. 1202259 Re8iStefed Office Basement Flat 4 14 Upper Bel8rave Road Brlstol BS8 2XH Trustees The following Trustees served during the year.. T. Daniels T. Faith J. Preston F. Sussex Accountant5 Magic Bean Counters Limited Unit 7, The Old Co-op 38 Chelsea Road Bristol B55 6AF OBJECTIVES AND ACTIVITIES The purpose of the charity as set out in its governing document for the public benefrt to prevent or relieve poverty in Somerset and the surrounding areas by providing regenerative agriculture to help tackle food poverty. The main activities undertaken in relation to those purposes We￿ settin8 up community growing schemes in or tlose to areas where food poverty is an issue. All Trustees have been issued the Charity Commission guidance on public benefit and have considered this in the activities being undertaken. ACHIEVEMETr¥fs AND PERFORMANCE The charity was undertaken the implantation of five projects in Somerset. The largest being the Food Bank Market Garden whlch has consistently delivered free fresh and organically grown food to three food banks and two schools where food poverty is an issue amongst students. FINANCIAL REVIEW The charity took over the attivities of a previously set up CommunTty Interest Company* receiving initial funds from the closing balances of that entity. During the year the charity received further donations and grants that supported its continuing activities and ended the year with a small additional surplus to those initial funds. The charity operates with low overheads as it 15 primarily run on a voluntary basis, its costs are therefore project specific and it raises funds directly for these purposes. Page 2 The Food Forest Project Trustees Annual Report The charity attempts to maintain a £10,000 reserve in case of any unforeseen issues with projects. There were no uncertainties about the charity's ability to continue as a going concern a5 Of the date of this rewjrt. No funds were In deflclt as of the date of this report. STRUCTURE. GOVERNANCE AND MANAGEMENT The charlty was constltuted as a Charitable Incorporated Organi5ation on 9th March 2023. Prospecttve Trustees elected at Board meetings by majority vote. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial posStlon of the charity and to enable them to ensure th3t the financial statements comply with the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Att 2(K)6 and in accordance wtth the Charities SORP IFRS 1021. Signed on behalf of the board T. Faith Trustee 14 March 2025 Page 3 The Food Forest Project Independent Examiners Report Independent Examinerfs Report to the trustees of The Food Forest Prolert I report to the charity trustees on my examination of the financial statements of The Food Forest Project for the period ended 31 March 2024. Responsibilities and basis of report As the charity's trustees you are responsible for the preparation of the financlal statements in accordance with the requirements of the Charities Act 20111'the 2011 Act'l. Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 144 of the 2011 Act and are eligible for independent examination, I report In respect of my examination of your charity's financial statements as carried out under settion 145 of the 2011 Act. In carryin8 out my exarnination I have followed the Dlrettions given by the Charity Commission under section 145ISI Ibl of the 2011 Art. Independent examiner'5 Statement I have completed my examination. I can tonfirm that no material matters have come to my attention in connettion with the examination giving me cause to believe.. accounting records were not kept in accordance with settion 130 of the 2011 Art,. or the financial statements do not accord with those fecords: or • the financial statements do not comply with the applicable requirements concernin8 the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2CQ8 other than any requlrement that the financial statements give a 'true and fair, view which is not a matter considered as part of an independent examination,. or the financial statements have not been prepared in accordance with the methods and prlnclples of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts In accordance whh the Financial Reportlng Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other matters in connection with the examlnatlon to which attention Id be drawn in thls report in orderto enable a proper understanding of the financial ched. stat an Corkery FCCA Magic Bean Counters Llmited Unlt 7, The Old C(Fop 38 Chelsea Road Bristol BS5 6AF 14 March 2025 Page 4 The Food Forest Project Statement ol Financlal Activities for the perlod ended 31 Marth 2024 Unrestrlcted fund5 2024 Restrlrted fvnds Totsl funds 2024 2024 Notes Income and endowments from: Donations and legacies Charitable activities 64,544 64,544 24,100 24,100 Total 64,544 24,100 Expenditure on: Charitsble activities Other 25.680 13,790 16,500 42,180 13,790 Total 39,470 16,500 55.970 Net gains on investments Net Income 25,074 7,600 32.674 Transfers between funds Net income before other gains/llossesl 25.074 7,600 32,674 Other galns and105ses Net movement in funds 25,074 7,6 32,674 Reconciliatlon of funds: Total funds carrled forward 25,074 7,600 32,674 Page 5 The Food Forest Project Summary Income and Expendlture Ac¢ount forthe perfod ended 31 Marth 2024 2024 Income 88,644 Gross income for the perlod Expenditure 88,644 53,427 Depreciation and charges for impairment of fixed assets 2,543 Total expenditure for the period Net income before tax for the period 55,970 32,674 Net income for the period 32,674 Page 6 The Food Fgrest ProJert Balance Shèet at 31 March 2024 Notes 2024 Flxed assets Tangible assets 10,171 10,171 Current èssets Debtors Cash at bank and in hand io 797 22,606 23,403 19001 22,503 Creditors: Amount falling due within one year Net current assets li Total assets less current liabilities 32,674 Net assets exdudin8 ￿nSIOn asset or liability 32,674 Total net assets 32,674 The funds of the charity Restrfcted funds Restrlcted Income funds 12 7,600 7,600 Unrestricted funds General funds 12 25,074 25,074 Reserves 12 Total funds 32,674 Approved by the board on 14 March 2025 And signed on its behalf by.. T. Faith Trustee 14 March 2025 Page 7 The Food Forest Project Notes to the Accounts ft>r the period ended 31 Marth 2024 l Accounting policles Basis of preparatlon The financial Statements have been prepared in accordance with Actounting and Reporting by Charltles- Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applitable in the UK and Republic of Ireland IFRS 1021 leffectlve I January 20151 (Charities SORP IFRS 10211, the Flnancial Reporting Standard appllcable in the UK and Republic of Ireland IFRS 1021 and the CharFties Act 2011. Change in basls of accounting or to previous accounts There has been no change to the accounting policies Ivaluation rules and method of accounting) slnce last year and no changes have been made to accounts for previous years. Fund accountlng Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. These are unrestricted funds earmarked by the trustees for particular purposes. These are unrestricted funds which include a revaluation reseNe representing the restatement of investment assets at their market values. These are available for use subject to restrictions imposed by the donor or through terms of an appeal. Desi8nated funds Revaluation funds Restricted funds Income Recognition of income Income is included in the Statement of Financial Activitles ISOFAI when the charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with related Where income has related expenditure the income and related expenditure Is expend¢ture reported gross in the SOFA. Donation5 and legacies Voluntary income received by way of grants, donations and glfts Is included in the the SOFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tax reclaims is included in the SOFA at the same time as the donations and gffts giftldonation to which it relates. Donated serylces These are only included in income Iwith an equivalent amount in expenditure) and facilities where the benefit to the Charlty is reasonably quantrfiable. measurable and material. Volunteer help The value of any volunteer help recelved is not included in the accounts. Investment income This is included In the attounts when receivable. Gainslllossesl on This includes any gain or loss resulting from revaluing investments to market value revaluatlon of fixed at the end of the year. assets Gains/llossesl on Investment assets This includes any gain or loss on the sale of investments. Page 8 The Food Forest Project Notes to the Attounts Expenditure Recognition of expenditure Expenditure Is recognised on an accruals basis. Expenditu￿ includes any VAT which cannot be fully recovered, and is ￿ported as part of the expendlture to which it relate5. Expenditure on These comprise the costs associated with attracting voluntary income, fundralslng ralslng funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its actwities and charitable activities seNices in the furtherance of its objects, including the makin8 of grants and governance costs. All grant expenditure is accounteil for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. These include those cost5 associated with meetlng the constitutional and statutory requirements of the Charity, including any avditlindependent examination fees, costs linked to the Strategic management of the Charity. together wlth a share of other administration costs. These are support costs not allocated to a particular activity- Grant5 payable Governante costs Other expendlture Taxation The charity 15 exempt from corpordtion tax on its charf(able aLtivities. Tanglble fixed assets and depre¢latlon Depreciation is provided at the following annual rates In order to write off each asset over its estimated useful life: Motor vehicles 20% Reducing balance basis Trade and other debtors Trade and other debtors are retognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash and cash equivalents Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other 5hort-term hi8hly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the charlty's cash management. Trade and other credito Short term creditors are measured at the transaction price. Other creditor5 and provisions are recognised where the charity has a present obligation resutting from a past event that will probably result in the transfer of funds to a thlrd party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provislons are normally recognised at their settlement amount after allowin8 for any trade discounts due. Receipt of donated goods, facilities and services All donated goods, facilities and services received are recognised within incoming resources and expendlture at an estimate of the value to the charlty. Page 9 The Food Forest Project N¢te5 to the Accounts 2 Income from donations and legacles Unrestrirted Total 2024 Donations and unrestricted grants Amounts donated from associated CIC 41,619 41,619 22,925 22,925 64,544 3 Income from charitable activities Restricted Total 2024 Grant funded activity 24,100 24,100 24.100 24,100 Expenditure on charitable artivities Unrestricted Restrlcted Totsl 2024 Expenditure on charitable octivities Direct project costs Contractors 3,368 8,093 14,219 4,￿)2 7,098 4,500 8,270 15,191 18,719 Tools & materials 25,680 16,51K) 42,180 5 Other expenditure Unrestrlcted Total 2024 Marketing 1,384 1,384 Employee costs Motor and travel costs Amortisation, depreciation, impairment, profitlloss on disposal of fixed assets General admSnistrative costs Legal and professional costs 508 508 3.813 3,813 2.543 2,543 1,642 3,900 13,790 1,642 3,900 13,790 Page 10 The Food Forest Project Notes to the Accounts 6 Net income before transfers 2024 This is stated after charging: Depreciation of owned fixed assets Independent Examiner's fee 7 Trustee remuneratlon and expenses 2,543 No trustees received remuneration or expenses during the period. 8 Staff costs No employee recelved emoluments in excess of £60,000. 9 Tanglble fixed a55ets Motor vehitles Total Cost or revaluation AddÈtions At 31 March 2024 Depre¢iatlon and Impalrment Depreciation charge for the year At 31 March 2024 12,714 12,714 12,714 12,714 2,543 2,543 2,543 2,543 Net book value5 At 31 March 2024 10,171 10,171 10 Debtors 2024 Prepayments and accrued income 797 797 11 Credltors: amounts falling due within one year 2024 Accruals 900 900 Page 11 The Food Forest Projert Notes to the Accounts 12 Movement in funds Incoming resources lin¢luding other galnsllosses Resources expended At31 March 2024 Restrfcted funds: Restricted income funds: Groundwork UK The Neighbourly Foundation Somerset Community Foundation The National Lottery Communityfund D'oyly Carte I1,0￿) (SC￿} s￿) 5,6C 15,000 2.000 115,0001 Totol 24,100 116,5001 7,6CKI Unrestrlcted fund5: General funds 64.544 139.4701 25,074 Total funds 88,644 155,9701 32,674 Purpose5 and restrirtions in relation to the funds: Restricted funds.. Groundwork UK Wilfswood Community Food Forest capital expenditure The Nelghbourly Foundation Purchase of tools Some￿et Community Purchase of a shelter and funding of cooking demonstrations Foundation The National Lottery Communityfund D'oylycarte Cost of living fund Purchase of tools and seeds 13 Analysi5 of net assets between funds Unrestricted funds Totsl Fixed assets Net current assets 10,171 22,503 32,674 10,171 22,503 32,674 Page 12 The Food Forest Project Notes to the Accounts 14 Reconciliation of net debt At31 March 2024 Cash Ilows Cash and cash equivalents 22,606 22.606 22,606 22,606 Net debt 22,606 22,606 15 Related party dlsclosures Nome of relatedporty Description of relotionship behveen the porties The Food Forest Prolect CIC Common trustees & directors The charity took over the actlvities of the related party during the year. As part of thi5 transfer the chartty received bank funds held at transfer of £22,925. Descrlption of transaction and generol omounts involved Controlllng porty The Charity is controlled by the Trustees a5 a body Page 13 The Food Forest Project Detailed Statement of Finan¢iil Activltles ft>r the period ended 31 March 2024 Unrestrlcte d funds 2024 Restrlrted funds Totsl funds 2024 2024 In￿me and endowments from: Donations and legacies Donations and unre5trirted grants Amounts donated from assoaated cic 41,619 41,619 22,925 22,925 64,544 Charitable artivities Grant funded activity 24.100 24,1(M) 24,100 24,100 Totsl income and endowments 64,544 24,100 88,644 Expenditu￿ on: Charitable activities Direct project costs Contractors Tools & materials 3,368 8,093 14,219 25,680 4,902 7,098 4,500 16,500 8,270 15,191 18,719 42,180 Total of expendlture on charltsble activities 25,680 16,500 42,180 Other expenditure Marketing 1,384 1,384 1,384 1,384 Employee costs Staff entertainment 508 508 Motor and travel costs Vehicles General costs Vehicles- Fuel 2,041 1,772 3,813 2,041 1.772 3,813 General administrative costs, including depreciation and amortisation Depreciation of Motor vehlcles Equipment expensed Equipment leasing an(1 hire charges General insurances Sundry expenses 2,543 150 2,543 150 1,242 1,242 73 177 4,185 73 177 4,185 Legal and professional costs Page 14 The Food Forest Project Detailed Statement of Financial Acilvlties Auditllndependent examination fees Other le8al and professional costs 900 9¢XI 3,000 3,900 3,900 T¢tsl of expenditure of other cost5 Total expendlture Net gains on investments 13,790 13,790 39,470 16,500 55,970 25,074 7.6CKJ 32,674 Net income Net income before other 8ainsl{lossesl Other Gains 25,074 32,674 Net movement in fvnds 25,074 7.600 32,674 Reconciliation of funds: Total fund5 brought forward Totsl fund5 carried forward 25,074 7,600 32,674 Page 15