2020-07-31-accounts - Fairfield Farm Trust

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Trustees		JA Cathcart
		Dr D Welsh	(Appointed	27 February 2020)
		A M Irving
		K Durrant	(Appointed	26 September 2019)
		M Cooper
		A M Pelling
		ABest
		G Melillo
		L Hunt	(Appointed	28 November 2019)
Charity number		273924
Company	number	01318397
Registered	office	43 High Street
		Dilton Marsh
		Westbury
		Wiltshire
		BA134DL
Auditor		David Owen 8Co
		17The Market Place
		Devizes
		Wilts hire
		SN10 1BA
Bankers		Lloyds Bank Pic	Santander	UK Pic
		37 Market Place	21 Prescot	Street
		Warminster	London
		Wiltshire	Et 8TN
		BA129BD
Solicitors		Stone King
		13Queens Square
		Bath
		BA1 2XF

		Page
Trustees' report		1-7
Statement ofTrustees'	responsibilities
Independent auditor's	report	9-11
Statement offinancial	activities	12
Balance sheet		13
Statement ofcash flows		14
Notes to the financial	statements	15-30

				Unresb ictad	Restricted	Total	Unrestricted	Restricted	Total
				funds	funds		funds	funds
				2020	2020	2020	2019	2019	2019
		Notes			6	6	6		8
nco eand endo		n	from
Donafions and legacies			3	106,914	41,480	148,394	39,618	18,000	57,618
Charitable activities
Educational services			4	2,378,177		2,378,177	2,002,189		2,002,189
Care services			4	953,576		953,576	717,451		717,451
Other trading activities			5	559,587		559,587	571,908		571,908
Investments			6	3,029		3,029	3,020		3,020
Other income			7	11,822		11,822	186,075		186,075
Total income				4,013,105	41,480	4,054,585	3,520,261	18,000	3,538,261
~xendituZeeo;
Raising funds			8	554,030		554,030	512,711		512,711
Charitable activities			9	2,888,651		2,888,651	2,618,854		2,618,854
Total resources
expended				3,442,681		3,442,681	3,131,565		3,131,565
Net gains/(losses)		on
investments			13	(4,228)		(4,228)	(980)		(980)
Net incoming
resources before
transfers				566,196	41,480	607,676	387,716	18,000	405,716
Gross transfers
between funds				41,480	(41,480)
Net movement	in	funds		607,676		607,676	387,716	18,000	405,716
Fund balances at 1
August 2019				6,490,194	18,000	6,508,194	6,102,478		6,102,478
Fund balances	at	31
July 2020				7,097,870	18,000	7,115,870	6,490,194	18,000	6,508,194

					2020		2019
				Notes	8		6
Fixed assets
Tangible assets				14		5,105,508	4,844,591
Investments				15		23,194	27,423
						5,128,702	4,872,014
Current assets
Stocks				16	33,228		30,284
Debtors				17	296,686		391,804
Cash at bank	and in	hand			1,897,574		1,490,004
					2,227,488		1,912,092
Creditors: amounts		falling due within
one year				18	(240,320)		(275,912)
Net current assets						1,987,168	1,636,180
Total assets	less current		liabilities			7,115,870	6,508,194
Income funds
Restricted funds				20		18,000	18,000
Unrestricted	funds
General unrestricted		funds			7,097,860		6,490,184
Share capital					10		10
						7,097,870	6,490,194
						7,115,870	6,508,194

					2020		2019
				Notes	8		6
Cash flows from operating			activities
Cash generated		from operations		25		839,953		454,279
Investing	activities
Purchase	oftangible fixed assets				(448,032)		(149,620)
Proceeds assets	on disposal oftangible fixed				12,620		8,753
Fixed assets transferred on			acquisition				(86,200)
Interest received					3,029		3,020
Net cash	used	in investing	activities			(432,383)		(224,047)
Net cash	used	in financing	activities
Net increase in		cash and cash equivalents				407,570		230,232
Cash and	cash	equivalents	at beginning	ofyear		1,490,004		1,259,772
Cash and	cash	equivalents	at end of	year		1,897,574		1,490,004

Depreciation is recognised	so as to write off the cost or valuation ofassets less their residual	so as to write off the cost or valuation ofassets less their residual
their useful lives on the following bases:
Freehold land and buildings	2%on a straight	line basis
Property refurbishment	4%on a straight	line basis
Plant and equipment	25%on a straight	line basis
Fixtures and fittings	20% on a straight	line basis
Computers	50%on a straight	line basis
Motor vehicles	25% on a straight	line basis


Donations and	legacies						(Continued)
		Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
		funds	funds		funds	funds
		general			general
		2020	2020		2019	2019	2019
		6	5		5	5
Grants receivable for
core activities
Education and Skills
Funding Agency		21,378		21,378	20,737		20,737
Coronavirus Job
Retention Scheme		59,503		59,503
Rural Payments	Agency		36,480	36,480
Youth Sports Trust			5,000	5,000	5,000		5,000
Monisons Foundation						18,000	18,000
TK Maxx Grant					800
Warminster Council					991
		80,881	41,480	122,361	27,528	18,000	45,528

			Educational	services	Total	Educational	services	Total
			senrices		2020	services		2019
			2020	2020		2019	2019
				2		2	2
Income	from	charitable
activities			2,378,177	953,576	3,331,753	2,002,189	717,451	2,719,640

			Unrestricted	Unrestdicted
			funds	funds
			general	general
			2020 6	2019f
Farm,	shop and carts sales		486,184	517,495
Other	income		73,403	54,413
Other	trading	activities	559,587	571,908

			Unrestricted	Unrestricted
			funds	funds
			general	general
			2020f	2019f
Income	from unlisted	investments		100
Interest	receivable		3,029	2,920
			3,029	3,020

		Unrestricted	Unrestricted
		funds	funds
		general	general
		2020f	2019f
Net gain on disposal oftangible	fixed assets	10,846	1,311
Fundraising		976	16,321
Hope Nature Centre			168,443
		11,822	186,075

					Unrestrfcted	Unrestricted
					funds	funds
					general	general
					2020 6	2019f
Fundraisin		and	ublici
Other fundraising			costs		1,465	434
Staffcosts						11,269
Fundraising		and	publicity		1,465	11,703
~Td i
Operating	commercial			activities	162,770	187,549
Staif costs					284,857	284,153
Depreciation		and	impairment		33,463	20,980
Support costs					71,475	8,326
Trading costs					552,565	501,008
					554,030	512,711

				Educational	Care	Total	Total
				services	services
				2020	2020	2020	2019
				6	6		8
Staff costs				918,508	519,161	1,437,669	1,366,684
Depreciation	and	impairment		115,596	36,281	151,877	184,812
Premises costs				157,440	57,256	214,696	235,616
Provision of	services			352,860	40,020	392,880	371,258
Irrecoverable	VAT			80,087	20,571	100,658	86,561
Bad and doubfful		debt			63,103	63,103
				1,624,491	736,392	2,360,883	2,244,931
Share ofsupport costs (see note 10)				519,596		519,596	356,235
Share ofgovernance			costs (see note 10)	8,172		8,172	17,688
				2,152,259	736,392	2,888,651	2,618,854

		Support	Governance	2020	Support	Governance	2019
		costs	costs		costs	costs
		f	f
Staif costs		556,409		556,409	339,169		339,169
Hire of plant and
machinery		21,246		21,246	17,066		17,066
Bank charges		13,416		13,416	8,326		8,326
Audit fees			8,172	8,172		10,100	10,100
Accountancy						7,588	7,588
		591,071	8,172	599,243	364,561	17,688	382,249
Analysed	between
Trading		71,475		71,475	8,326		8,326
Charitable	activities	519,596	8,172	527,768	356,235	17,688	373,923
		591,071	8,172	599,243	364,561	17,688	382,249

Number ofe The average	mployees monthly number ofemployees during	the year was:
		2020	2019
		Number	Number
		128	87
Employment	costs	2020	2019
		6	6
Wages and salaries		2,045,817	1,786,243
Social security costs		155,327	141,005
Other pension costs		77,791	74,027
		2,278,935	2,001,275

more we	re	:
			2020	2019
			Number	Number
560,001	-	570,000		1
670,001	-	680,000

Unrestricted	Unrestricted
funds	funds
general	general
2020	2019
6
(4,228)	(980)

Tangible Rxed assets
		Freehold land	Plant and	Fixtures and	Computers	Total
		and hugdlngsf	equipmentf	fittingsf	f
Cost
At 1 August 2019		5,680,134	91,639	280,676	177,018	6,229,467
Additions		355,229	39,807	44,420	8,576	448,032
Disposals			(4,440)	(4,950)		(9,390)
At 31 July 2020		6,035,363	127,006	320,146	185,594	6,668,109
Depreciation and impairment
At 1 August 2019		1,000,103	70,881	148,822	165,070	1,384,876
Depreciation charged	in the year	122,057	12,087	39,662	11,535	185,341
Eliminated in respect ofdisposals			(4,440)	(3,176)		(7,616)
At 31 July 2020		1,122,160	78,528	185,308	176,605	1,562,601
Carrying amount
At 31 July 2020		4,913,203	48,478	134,838	8,989	5,105,508
At 31 July 2019		4,680,031	20,758	131,854	11,948	4,844,591

Fixed asset investments
	Unlisted
	investments
Cost or valuation
At 1 August 2019	28,402
Valuation changes	(4,229)
At 31July 2020	24,173
Carrying amount
At 31July 2020	24,173
At 31 July 2019	28,402

18	Stocks
				2020f	2019f
	Feed stuffs and consumables			5,405	7,576
	Livestock			27,230	22,155
	Stationery			593	553
				33,228	30,284
17	Debtors
	Amounts falling due		within one year:	2020	2019f
	Trade debtors			245,966	359,627
	Other debtors			5,983
	Prepayments	and accrued income		44,737	32,177
				296,686	391,804
18	Creditors: amounts		falling due within one year
				2020f	2019f
	Other taxation	and social security		62,930	84,445
	Trade creditors			135,049	111,693
	Other creditors			12,507	9,239
	Accruals and	deferred	income	29,834	70,535
				240,320	275,912
19	Share capital			2020 f	2019 f
	Ordinary share capital
	10Ordinary shares ofF1 each			10	10

				Movement	in funds
		incoming	Balance at	Incoming	Resources	Balance at
		resources f	1August 201S 8	msources	expended	21July 2e20 8
Morrisons	Foundation	18,000	18,000			18,000
Youth Sports Trust				5,000	(5,000)
		18,000	18,000	5,000	(5,000)	18,000

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Analysis of	net assets	between funds
		Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
		funds	funds		funds	funds
		2020	2020	2020	2019	2019	2019
			8	6	f	6	f
Fund balances at 31
July 2020 are
represented	by:
Tangible assets		5,105,508		5,105,508	4,844,591		4,844,591
Investments		23,194		23,194	27,423		27,423
Current assets/
(liabilities)		1,969,168	18,000	1,987,168	1,618,180	18,000	1,636,180
		7,097,870	18,000	7,115,870	6,490,194	18,000	6,508,194

						2020	2019
						8	8
Minimum	lease	payments	under	operating	leases	28,143	30,985
						28,143	30,985

under non-cancefiable operating leases, which fall due a	s follows:
	2020	2019
	f	6
Nlithin one year	30,317	22,247
Between two and five years	49,811	24,924
In over five years	125	125
	80,253	47,296

25	Cash generated from	operations	operations				2020	2019
							8	5
	Surplus for the year						607,678	405,715
	Adjustments for:
	Investment income recognised		in statement		offinancial	activities	(3,029)	(3,020)
	Gain on disposal oftangible fixed assets						(10,846)	(1,311)
	Fair value gains and losses on		investments				4,228	980
	Depreciation and impairment oftangible			fixed assets			185,340	205,792
	Movements in working	capital:
	(Increase) in stocks						(2,944)	(11,713)
	Decrease/(increase) in	debtors					95,118	(235,647)
	(Decrease)/increase in	creditors					(35,592)	93,483
	Cash generated from	operations					839,953	454,279
26	Analysis ofchanges	in net funds
	The charity had no debt during		the year.