Company registration number 01318397 (England and Walesl Charity registration number 273924 (England and Walfrsl FAIRFIELD FARM TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
FAIRFIELD FARM TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees A Best K O'connell C Mullen A Kladdocks E M Denham B R Freeland (Appointed 20 Maich 20251 (Appointed 20 March 20251 (Appoinled 20 March 20251 IAppointed 9 D8c8mbèr 20251 Charlty number 273924 Company numb•r 01318397 Reglsl•r•d offlce 43 Higb Street Dilton Marsh Westbury Willshire BA13 40L Auditor David cen & Co 17 Tye Markel Place Devizes Willshire SN10 1HT Bankers Lk)yds Bank PIC 37 Markot Place Warminster Wiltshi BA12 98D Sollcltors Slone King 13 Queens Squa Bath BA12XF
FAIRFIELD FARM TRUST CONTENTS Page Trustees. report Slalemenl ol Trustees, responsibilities Indepgndent auditorfs report 8-11 Statement ol financial a¢tivities 12 Balance sheet 13 Slalemeni ol cash flows 14 Noios to the financi81 stalements 15-31
FAIRFIELD FARM TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT} FOR THE YEAR ENDED 31 JUL Y 2025 The trustees , who are also directors of the charity for the purposes of the Companies Act 2006, present their report and financial stalernenls lor the year ended 31 July 2025. The financial stalemenis have been prepared in accordance with the accounting policies sel out In note 1 10 the rinancial slatemenls and comply wilh the charrty's Articles of Association Igoveming documentl, the Companies Act 2006 2nd "Accounting ané Reporting by Chanties". Sialemenl ol RecommerKled Practice applicable lo charitie5 pr8paring their accounts In accordance with the Financial Reporting Standard applicablè In the UK and Republic of Ireland IFRS 1021 leffective 1 January 20191". Objtctives and activities Ovtrrvlew Fairfield Farm Trust is a registered charity Icharily regislralion no. 2739241 and Iimiled company (company registration no. 013183971. The principal and registefe(J office of Ihe Trust is 43 High Street, Dillon Marsh, Weslbury, Wiltshirtr, BA13 4DL. Our purpose is". To enable young people to Iivg and wort( without barrr5 At the time ol wriling this report, the disat)Ilily employmenl gap cemains al its widest point sincè 2018, reflecting Ihe ongoing Impact ol the pandemic alongside wider naiional and Int&mational economic challenges. The employment rale lor Indiviouals with additional needs stands ai approximately 53°/o, compared lo 82°/o for those witnoul addilional n8trds. The coming years are expecied lo present furlher challenges for young people seeking employment. Fairfield Trust Is uniqu•ly posilioned lo respond to these challenges by integrating education. employmgnl opportunities, an¢J support services for young peoplè wilh additional needs. The trustees rtrcognise their responsibility lo ensure that the support provided delivers meaninglvl. w)siliv•. and sustainable outcomès lor each individual. Our strategic plan sets out our vision lo Gonlinue to Iranslorm our organisalior), and Infkjence change in those around us. Vision Thè Trust's vision defines its long-lerm ambition.. To provido oxc9plional employment. Iiaining, and independent living opportunilies for young people wilh 8ddilional needs. This is achi&ved through. Clear strategic dir8ction and a co118boraiivÈ. inclusive organisalional cvlture A skilled, engaged. and supported workforce and student community Delivery of best praclice specialisl provision and training Financial suslainÉbilrty supported by robust commercial athvih.es Effective and Iransparenl communicalion Active engagement wlh feedback from sludents. staff. and stakerdS to infoim decision-mÈking Stiong partnerships wilh local authorities and key slakeh0erS Investmenl in staff training. including syslemalic Instructi methodologes Development ol allernative empk>ymenl. enlerprise. and independent living opportunities across Willshire and beyond Provision of besl practice SEND training for professionals
FAIRFIELD FARM TRUST TRUSTEES. REPORT IINCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JUL Y 2025 About Fairfield Fairfield Trust operates a divèrse range of services. Including.. A further education cc>llege lor young p8ople with a¢Jdrtional ngeds Residenlial provision lor learners Training programme5 lor Indep&ndenl living Respite and supported living services Commercial enlerprises designed lo develop practsc31 work skills. including a canteen, bakery, calé. public hr>use. relail shop. animal centre, dog day care servjce. and mat*et garden These activities collectively support Ihe Trust s mi55ion by woviding real-world training and employrn¢nt pathways. Where We Are Now Thg Iruslees recognise thal listening io the voicès ol young peopk? is lundamental to delivering services Ihal posilivé5y Impaci their lives. The tsrganisalion bonefits from a dedicated WOTkforGe whose experience, empaltty, and commiirneni eneble J ¢JvEp undew3tanding 01 Indiv1 n¢edo. The TTUSI Is ctsmmitled lo fostgring a culture in which all members ol its community 1001 confident, valuèd. and empowered. Diversity and Inclusion remain ¢snlral lo Ils ethos Staff engagement and 0119nmenl with Ihe or9ani$ation's purposg and valués are key Slrèngtns. However. the Iiuslges acknowledge ¢he ongoing pressures facad by siaff. particularty In light of wider national and global challènges. Ensuring Ihe wellbeing and professional development of 51aft remains a piiority. alongside maintainin9 a supportive and Inclusiv8 working ¢nvironment. Our Businèss Thè Trust has experienced sustained growlh In lufnoyer. Slfing. and assèl base In recent years This gr0h reflects ils strategic objective lo èxpand seNces and enhante opportuniiies for young people wilh additional needs. The organisalioll continues lo mainlain a 'Good' raling from both Ofsted and the Care Quality Commission. The trustees remain ¢ommirte(J lo delivering flexibl8. responsive, arKI high-wality provision Ihat supports employability and independent living outcomes. Ch8lleng&s Ahcad The truste¢s recognise a numbgr ol ongoing and emtrr9ing ¢hallen9es'. Global P3(Ideiiii¢ Impact The long-t•rm effecls of thè pandemic conlinue to Influènce physical and mental health. economic wnditions. and service delivery. Rising Cosis Inereastss In the cost of living. ulililies, and gènéral operating expenses are placing additional financial pres5UTe on the organisation and ils commercial activities. Widening Inequality Existing Inequalilies have been exacerbated by recent gbbal and economic factors, including th8 widening disabilily employment gap, reinforcing Ihe irnportance ol Ihe Trust's work. The trustees maIn committed to addressing these thallenges through careful planning, strong governance. and continued investmenl in services thal sUPPWt young people to athieve independence and meaningful 9mployment.
FAIRFIELD FARM TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JUL Y 2025 Publ1¢ Benofit The Tfust's work has an Identifiable public benefit through the provision ol high-qualily further educalion for young people (aged 16 to 251 wilh additional needs through Ihe d8velopment of individual competencies and skills via training and employment OPPOrtunilre5. Students. Irain88s residents are pr8dominantly frotn Willshire and neighbouring local authorities. ahoUgh we do have students that come from across Ihe UK. There are no geographical restrictions. nor any regarding gender. race. ethnic origin or religion. Students are lunded by both the Educafion and Skills Funding Agency IESFAI and their Local Authority ILA). Fees are delefmined following a full assessment of individual need which are then egtslialetl and agreed with each LA. The charity ooes not reouire students to conlribute personally lo their educational or support costs and no reslriclions are imposed based upon an individual s ab lity lo pay. Neilher Is a student or potential student excluded or prevented being given the opportunity to benefil because they are unable to pay the fees. There are no privatè benefl15 arising frorn th8 activities of Ihe charity other than to the intended beneficiaries. The tru51ees are pleased lo confirm that Ihey have paid due reg8rd lo th8 Charity Commi88lOll 9Ltidance 'Ch8ritits and Public Benefit. A full •xplanalion ol thè charity's si9nilicant activities ean bè found in tha following p8ra9raphs of this report. Strategic report Thè dèscription under the headings "Achievements •nd performance" and "Financial review Meet the ¢ompany law requiremen15 for the trustees lo presenl a slralegic report. Achi•vemonts and performance The College was last inspected by the CQC in June 2019.. Ihe outcome of the inspection was good. The lasl Inspection by Ofsled was conducle¢J in April 2025. the outcome ol the shori Inspection was good. Fundrai$lng Fairfield Farm Twst IFFTI take 115 responsibilities under the Code of Fundraising Practice 120191 very seriously. Sponsorship and donations are sought with the obieclive lo constantly improve resources ancl facililies and lo strive lo becorne a centre ol excellence lor learnin9 and Irainin9. Any granls and donatn$ secured are normally for specific projects from largeteo donors. Flnanclal revlew The surplu5 lor the year 202412025 amounted to £35.322. In accordance with the charills Articles of AssOction. no portion of income or property shall be p8id or Iranslerrèd direct'.y or Incjireciiy. by way of dividend. tn$ or olherwise Irofll profit. to melnbers or truslee5 of the ch?nty. Trustees are reimbursed lor reasonable Iravel. subsistence and trainin9 expenses incurTgd In the course of Ihtrir duties as trusie&s. Resorvej Policy The charity retains reserves at a level sufficient to cover approyimately four months lone tefml of normal operating cosls,. fcr 2024125 this reserve wa5 £2,000.000 The Trust's currenl level of available reserves Ilotal unrgslricted funds less the amount held In Ihe fixed a55et fundl is £3.247.854. Designated serveS at the yearorbd lolal £925.(W and are detailed in note 25. The charity ha5 never offered a defin8d bpnefft pension stheme and there are no liabilitie5 on the charitys reserves.
FAIRFIELD FARM TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 JUL Y 2025 Principal funding sources The ¢harily's prin-lpal funding sources are Itts liom the EdUCatn and Skills Fur)ding Agency IESFAI and Ltrcal Authorities for educational and residential sèrvices. Other funding is generatecl through sa19s in tb.e charity's animal park, pub and fundraising and donaiions. Student numbèrs lor Sept8mbÈr 2025 include 141 sludents on roll. 14 cdlgg8 iesidenls. 14 on the Steps program. 6 regular respitè residents and 6 Suprted living For (he y8ar endod 31 July 2025 èducational fee incorne increased by 5Q/o to £3.35m". income from carè fees Increased by 2.1Q/. from £1.87m to £1.9rn. The charity s trading activilies, including Ihe ptjb and animal park lotaled just over £800,000. a decrease Irom last year'5 lolal of just undor £1m. The trading activilie5 are carried out mainly by the beneficiaries ol the ¢harity and is considered to De the prirnary purpose of tradiro. The educaiional benefit5 for sluoenls, trainees and residents in gainin9 real work experience In the Commercial areas 15 a real posiiive that does nol attract a monetary return, and this should not be overlooked in a55essing the overall value ol Ihese facililse5 Donations and grants have risen thi5 year to £13.9k. The relufn on investments has increase(I 10 £51 k due to a change the Irusl's approach lo Investments. Thg charity's total unre3lrid¥d income has InGroa$¢d slighY to £6.1m. Invoslment Pollcy As the charity's activities require readily available liquid assets. mosi ol Its lunds are curr8ntly held on bank dèposit in the loirn ol shorLlmedium lerTr. fixed dèposils or In cash. During the 2023-24 financial year the Iruslèès implemenie¢J a new invèslmenl policy which included engaging Ihe soNices ol an investment managernènt cr)mpany. The fund manager acts in line with the chanty's values as a resptsnsible Investor lo invest funds with view to securing th8 best possiblè financial tUrn wh¢ch will help deliver on our slralegi¢ objectives. Trustee5 have taken the decision Its Invest elbically. taking the charity's kwfpg58 aThJ values into account, even if a particular Invèstment provides a lower relurn than an allernative. Rl$k Mona9em•nt A Finance Cornmitt¢¢. comprisin9 nominated trustees and senior managers. meets lo review potential major risks to which the charity tnKJht be exposed and 10 set In place system5 controls to mili9ale these risks. The Potential risks arè priorilised in order ol severity onto a gridlmaifix In five main categoriès so that planned actions can bo monilgrgd ol regular Intervals. The Iruslees have assessed the major risks lo whith tho charity is exposed and arè satisfied that systems are in place to mitsgale exposure lo tile major risks. Plans foi future periods The trust wi11 conlinue lo Im&Mnt the objective5 of thè trustees. stralegic p18rTr 2023-25. as detailed eat1ier In Ihis report Structure, governznce and management The charity'5 governing document5 are its Articles of Asswatiorb. The share capital tsl the company is £10, divided Into shares of £1 each.
FAIRFIELD FARM TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JUL Y 2025 The tAJstees, who are also Ihe dilOrS for the purtx)se of company law. and who served during the year and up lo the date ol signature of the financial statements wwe". M Cooper (Resigned 9 December 20251 A Best A Curran N Dawson-CoGks J Fortune K O'connell C Mullen A Maddocks E M Denham B R Freeland (Resigned 31 May 2Q251 (Resigned 31 May 20251 (Resigned 20 January 20261 IAppointed 20 March 20251 IAppoinl•d 20 March 20251 IAppoinled 20 March 20251 (Appointed 9 Oecember 20251 Re¢rultmgnt and appolnlmenl Qf new tru$t¢es TrusleeslDireciors are currently appointed by Of(Jinary Resolution following nomination by othef board mernbers. The maximum number ol trustees who may serve on Ihè Board IS len. currently numtsers residè at 6 wilh lour vacancies. Qualifylng Ihlrd party Ind•mnity provisions The charity has prolèssional Indèmnity insurance which protècts Irustèès Irom claims arising from n8glig&nl acts, errors tsr omission% occurring whilsl on charily business. and providÈs cover up lo £5.000,000. Indu¢¢lon and troining of now ITu$t••s New trustees are given an induction programme on joining which includes meeting members ol Ihe SLT. a lour of the Trust5 prop•rties. Training courses. which are identified as relevanl. are a#ended by liustees on an individual or collective basis as appropriate. Organlsatlonal Structur• TrusteeslDirectors govern the chanty and set overall strategy. objectives and largels. The day-l04ay management of the charity has been delegaled, by the Iwslees. to seniof employees that form the Senior Leadership Team ISLTI The following senior employees that lormed the SLT w) year ended 31 July 2025 are as follows". V Dunnicliife G Athey T Jones K DurTant CEO Principal He8(J of Human Rèsourcas Head of Finance Ex•cutlv• Romunoration The arrangements for selting pay and remuneralion of the charity's key managèmènl pèrsonnel ISLTI are detem)Ined by reference to.. benchmarking of olher specialist educalion providers throLrgh the National Associalion of Specialist Colleges (Nalspecl.. consullalion wilh recruilmenl consuttants.. market forces There are four employees wilh annual emoluments of more than £60.000 for the reporting period. Auditor In accordance with the company's articles. a re50hJtion proposing that David Owen & Co be reappointed as auditor of the Company will be pul al a General Meeting_
FAIRFIELD FARM TRUST TRUSTEES, REPORT {INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) {CONTINUEDI FOR THE YEAR ENDED 31 JUL Y 2025 Di5closur6 ol Inlomiation to auditor In so far as the trustees are aware.. There is no levan1 audit Informalion of which the company's auditors are unaware. and The trustees have taken 811 sleps Ihal they ought lo have taken in order to make themselves aware ol any relevant audit Inlofmalion and to establish thal the audttors are aware ol that intormation. The Trustees, report. including the 5tralesi¢ report. was approved by the Board of Trustees. A Best Truslèt 24 April 2026
FAIRFIELD FARM TRUST STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 JUL Y 2025 The trustees, who are also the dire¢lors of Fairfield Farm Trust foi Ihe Pufwse of c(xnpany law. are respon51ble lor preparing the Truslees. Report and the financial slaternent5 In accoi<Ja*ce wth applicable law and United Kingdom Accounting Standards (United Kingdom Generally Acceple¢JAccounling Praclicel. Company law requires the truslees to prepare financial slalemenls f¢y each financial year which give a true and fair view ol the slate ol affairs ol the charity and ol the incoming resources and applicatson of resources, includjng the income and expenditure. of the tharilable company for Ihat yÈar. In prèparing thesè financial statement5. thg irustées are qUIred to.. select 5uilable accounting ptslicies and then apply Iheffl consistently: observe Ilie methods and principles In the Charities SORP. makè judgements and eslimales that are reasonable and prudent.. Stat8 whether applicable UK Accounling Siandards have been followed, Sub¢1 to any malerial departures disclosed and explained In the financial 5talemenlS'. and prepare the finÈnciÈl statemonls on the 90ing conGgm basis unless it is inappropriale to pr95ume that the charity will continue in owralion. The Iru5tees are responsible for keeping adequale accounling rècords that disclose with reasonable accuracy al any time Ihe financial position of thè charily and enable IhÈm to ensurè that the financial staternents comply with the Companies Act 2006. They are also responsible for safeguarding Ihe assels ol th& charity and hance ltsr taking reasonabl8 steps lor the prevention and detection of fraud and other irregulanties. The truslee5 are responsibl• lor the mainlenantè and Inlagrity of the charity and financ1al Infomialion included on the charity's websile. Legislation in the United Kingdom governing the preparation and dissemination ol financial statements may differ from1¢9151allon in other iurisdiclions.
FAIRFIELD FARM TRUST INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF FAIRFIELD FARM TRUST Opinion We have audrted the financial statemènts ol Fairfld Farm Trust Ilhe 'charity'l for the yè& ended 31 July 2025 which comprise the statement tsl financial activities. the balance sheei. Ihe statement of cash flows and noles lo the financial slalemenls. includirbg significant accounting policies. The finanaal reporling framework Ihal has been applied In their preparation Is applicable law and UrTiled Kingdom Accounling Standards. including Financial Reporiing Standard 102 The Financial ReportiAw Standard apphcable in Iho UK and Republic ol Ireland Iunited Kingdom G8nerally Accepted Accounting Praclicel In our opinion, the financial statementS.' give a true and lair view of the State ol tha charitable company's affairs as at 31 July 2025 an¢J ol its inwming resource3 and aDplicalion Cpl resourGe5, indLKling ils Incorne and expenditure. for the yèar then ended." have been properly prepareil Trn accc>rdance with United Kingdom Generally Accepted Accounting Practic6". and have been prepared in arxordance wrth the requirefflenls of Ihe Compani85 Ad 2006. Basis for opinltsn We conducted our audit in accordance with International StarKlard5 on Audlling IUKI IISAS IUKII and applicablè law. Our responsiDili¢ies under those standards are further described in the Auditots responsibiliEies lor the audil of the financi81 siaiemG+nts seclion ol our report. We are Independent of the charity in accordance with the ethical requiremen15 that are relevant to our audit of the financial sialemenls in the UK, Including the FRC'S Ethical Slandard. and we have fullilled our Othèr ethical responsibilities In accoidance with Ihe5e rèquirements. We believe that the audit evidènc8 we have obtained is sufficienl and appropriaie 10 prcvide a basis for our opinion Conclusions relating to going concom In auditing Ihe financial slatemenls. we hav& conchJde¢J that Ihe Truslees. use ol the going concern basis of a¢¢ounling In the preparatson ol the financial sl¥tèm&nts is appropiialtr. Based on the work we have perfotme(J. we have nol i(Jeniif*d any malerial uncertaintios relating io events or condiiions that, Individually or colleclrvely. may cast $Ignifant doubt on ltte charity $ ability to continue as a going concern lor a period of al least e1ve monihs from vthen Ihe financial statements are aulhorised lor issue Our r95ponsibilities 8n(J tha responsibilitiès ol the truslees with réspect to going concern arè described In the rélevarti section5 of this roport. Oth•r Informatlon The other information comprisès the inlormalion included in the annual report other than the financial slatemenls and our auditorfs reporl theregn. The trustees arg responsible lor the other Inlormalion conla'ned within the annual report. Our opinitsn on Ihe financial statements does not cover ihe other inftsmalitsn and. excepl to the extent olheN4ise explicitly slaled In our reporf. we do not express any of assurance conclusion Ihereon. Our responsibility Is lo read Ihe other Information and. In doing so. consider whelher the other infrjrmalion 15 materially inconsislent with the financial stat8ment5 or our knowledge obtained in the course of the audii. or othcrwise 3ppears lo be materially misstated. If we ideniity such material Incon51siencies or appar9nt malerial misstalemen15, we are required lo determine whether Ih15 gives ii5e 10 a malenal fflis5tatement In Ihe financial statements Ihetn5elves. 11, based on the work we have performed. we conclude thal there 15 a fflaterial misslatement ol this other Information, we are required lo report Ihal lacl. We have nothing to report in thi5 regard. Opinions on othèr matters prescribgd by th• Companies Act 2006 In our opinion. based on the work undertaken In the course ol oui audit" the infomiation 9iven In the Trustees, report for Èhe financ¢al year for which Ihe financial statements are prepared, which includes the directors. reporl and the strategic report prepared for the puTroses of company law. is consistent with the financial stalemenls. and the strategic report and the direclor5' report Included within the TriJst88s' report have been prepared in accordance wilh appli¢able legal iequirements.
FAIRFIELD FARM TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF FAIRFIELD FARM TRUST Matters on which we are requtred to report by exceptTron In the light of the knowledge and understandinq of '.he chanty and Ils environment obtained In the course of the audit, we have not identified rnaterial misslatemenls in Ihe stralegic report or the diredors, report included within the Trustees, report. We have nothing lo report in respecl of Ihe followin9 mattets in laIn lo which the Companies Act 2006 requires us lo report to you If. in our opinion". adequate accounting records have not been kept or lurnS adequale for our audit have not been received from branches not visited by us., or th9 financibl statements are not In agreemenl wlh the attountsng records and returns., or certain disclosures of Irvstees, remuneration specified by law are not made.. or we have not received all Ihe InlormÈb"on and 6xplanations we require lor our au¢Jil. Rospon5ibiliti•s of trustO0$ As cxplainod moro lully In the sl8ternent ol Trusltres. rosrx)nsibilibes. the trustees, who arè also the direct(Irs ol thè h¢irily lor thè purpose ol company law, are responsible lor Ine preparation of the financial slalemenls and for being satisfied that they give a true and fair v*ow. and for sueh Inlemal conirol as the Iru51ees delgffnine is necessary lo enable the preparation ol finan¢i81 $18lemenls that are Iree from m8lerial mi$$t8lemenl. wheihor duè lo fraLJd or error. In preparing the financial slalement5. the Iruslees are respons ble lor asse551ng the charity's ability to conlinue 8s a goin9 Goncern. disclosing. as applicable, mattèrs rèlated to going concern and using the going concern basi5 of accounting unless th• Iruslees eiiher Intend to Ii¢ui¢Jaie the chantable MpanY tsr lo cease operation5. or have no rea115tic allemalive bul to do so. Audltor's rospon$ibilille$ for the audlt of th• flnanclal statem•nl$ Our objeclives are lo obtain reasonable assurance about whether Ihe financial sialemenls as a wholè are free from malerial rniss1818menl, whelher due to fraud or error. and lo issue an auditor's repod that Includ95 our opinion. Reasonable assurance t5 a high levèl ol assurance bul is nol a 9uaranige Ihal an audit conducled In accordance with ISAS IUKI will alway5 deièci a material misslalemenl when Il exists M sslatements can arise from fraud or error and are considered material If. Individually or In the aggregate. they could ieasonably be expeclgd to influence th8 economic decisions ol users taken on thtr basis of these financial siatèm8nts. The exlenl to which our procedures are capablè ol detecting irregularities, inclvding fraud, is detailed bèlow. A further description of our responsibililies is available on U)e Financial Reporting Coun¢il'$ websile al.. hllps".11 www.Irc.org.uklaudilorsresponsibilities. This desuiplion form5 part ol our audilor's report.
FAIRFIELD FARM TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF FAIRFIELD FARM TRUST Extent to which the audit was considered Capable ol (Jetectlng Irregularities, including fraud We identify and assess the risks of malèrial m+sslatemenl of the financial statements. whether due to fraud or error and then design and perform audit procedures res)nSive to Ihose risks. induding obtaining audil evidence that Is sufficient and appropriate lo provide a basis for our OFMnion In identifying and addressing risks of material misslalemenl In respect of irregulafilies. incltsding fraud and non- cornpliance with laws and regulations. our procÈdurÈs included the followng.. We obtained an understanding of laws and regulations Ihat alfect the charity, focusing on those that had a direct effect on the financial statements or that had a funéamenlal effect on ils operatlons. Key laws and regulations that we Identified included the UK Cornpanies Act, tax legislation. OFSTED. Care Quality Commission, food ttygiene. 0pational health and employmer¢l legislalion We enquired of the trustees and reviewed trusteès meetin9 minules for evidence of non-compliance with relevant laws and regulations. gained an und8rslanding of the controls that the trustees have in place to prevent and delect fraud. We enquired ol the Irustees about any inadences of fraud that had taken place during the accounting period The risk of fraud and non-compliance with laws and regulations and fraud was discusse(I within the audit taam and lesls were planned and perfonned 10 address these risks. We reviewed financial statgmgnts disclosures and tested lo support]ng documentation lo assess compliance with relevant laws and regulations discussed above. We enquire(l of the Iruslee5 and senior staff about 8Ctual 8nd potential Iiligation and ¢laim$. We performed analytical procedures to Identify any unusual or unexFected relationships that might indicate risk$ ol material misslalemenl due lo fraud In addressing the risk of fraud due lo managemenl override of Inlemal controls we lesled the aFproprialene$s ol journal entrie5 and assessed whether the iudgemenls made In making accounting eslimaies were indicabve ot a potential bias Due lo the Inherent Iimi181ions of an audil. there 1$ an unavoidable risk that we may not have detected Some mat@rial misstatements in the financial slalements. even Ihough we have properly planned and performed our audit in accordance with audiling Standards. For example. as with any audit. there remained a higher risk of non-delection of Irregularities. as these may Involve collusion, forgery, Intentional omissions. misrepresenlalions. 01 the override ol Internal controls We are not responsible for preventing fraud or rn-cOMpliance with '.aws and regulations an¢J C8nnot be expected lo delect all fraud and non-compliance with laws and regulations. 10-
FAIRFIELD FARM TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF FAIRFIELD FARM TRUST U$9 ofour report This report is made solely lo the charitable company's members. as a boty. in accordance w'lh Chapter 3 of Part 16 ol the Companies Act 2006 Our audit work has been undertaken so that we might state lo the charilatle ¢ompany's members those matters we are requiTed to stale to them In an audrtor's report and lor r.o other purpose. To the lullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable eompany and the ehariiable company's members as a body. for our audit work. foi this report. 01 for the opinions we ave forrned. LD- Julian Pocock (Senior Statutory Audltorl for and on behalf of David Owen & Co 28 Apnl 2026 Chartered A¢¢ountants Stjtutory Audltor 17 The Markel Place Devizes Willshire SN10 1HT
FAIRFIELD FARM TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JUL Y 2025 Unrestricted Restrfcted lunds funds 2025 2025 Total Unrestrlcted Restricted funds funds 2024 2024 Total 2025 2024 Not•s Income from: Donations and legacies 13.970 107.537 121.507 2.729 153,267 155.996 Educalional seNices Care s9rvices 3.346.521 1.904,662 3.346,527 1.904.662 3,172,244 1.865.256 3,172,244 1,865.256 Other tradin9 activilies Inveslrnenls 801.910 51,093 801.910 51.093 994.992 30.211 994,992 30,211 Total In¢om• 6.118,162 107.537 6,225.699 6.065,432 153.267 6,218,699 EXnditra on: Raising funds Charitable activities Other expenditure 1.348.130 4.845.459 1.34B. 130 4.845 459 1.432,408 4.510,407 4.700 1,432,408 4,510,407 4,700 13 Total expèndlture 6,193.589 6,193.589 5.947.515 5,947,515 NÈI ga5nslllossesl on Investments 14 3.212 3.212 24.286 24.286 Not Incomelloxpendltur81 172,2151 107.537 35,322 142.203 153.267 295.470 Translers beeen fvjnds 82.972 IB2.9721 123.956 1123.9561 Net mov?ment In fun(Is 10 10,757 24.565 35.322 266,159 29,311 295,470 R¢conclllation of funds- Fund balances at 1 Augusl 2024 9.296,681 55.887 9,352.568 9,030.522 26,576 9,057,098 Fund balances al 31 July 2025 9.307.438 80,452 9.387.890 9,296.fj81 55,887 9,352,568 The slaternenl ol financial actiVitS includes all gain5 and Josses recognised in the year. All income and expenditure derive from continuing activities. 12-
FAIRFIELD FARM TRUST BALANCE SHEET AS AT 31 JULY 2025 2025 2024 Notes Fixed assets Tangible assets Investments 17 18 6,059.574 777.498 6.381.849 774,286 6,837,072 7.156.135 Current assets Slo¢4s Deblorg Cèsh al bank and In hand 19 20 63.745 241.969 2.595.471 75,478 475,448 1.970,361 2.901,18S 2,521.287 Credltors.. amounts fèlllng duè withln one year 21 1350,3871 1324,8541 Nèl cuirÈnl assÈls 2.550.818 2,196,433 Total ass•ts l•ss curr•nt Ilabllltles 9.387.890 9.352,568 Incoma lunds Restricted funds 24 80,452 55,887 Fiyed asset funds General unrèstricted funds Share capit81 6.059.574 3,247,854 10 6,381.849 2.914,822 10 9.307.438 9,296,681 9.387,890 9,352.568 The financial statements were approved by thè Trustees on 24 April 2026 A Best Trust•• Company Registration No. 01318397 13
FAIRFIELD FARM TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JUL Y 2025 202S 2024 Notes Cash flow5 from operating activities Cash goneralod from opelalions 29 660.649 305,074 Invt5tlng actlvities Purchase of tangiblè fixed assets Proceeds frofn disposal of tangible fixed 8ssels Purchase of investments Proceeds from disposal of investments Inveslmenl income received 186.6321 1135,9781 2.475 1750.0001 481 30.211 51.093 Net cash u¥•d In Investlng acti¥5tS8S 135,5391 1852,8111 Net eash gen•rated Irom flnanclng ac¢lvitl8 Net Increaselldè¢r•asel in cash and cash •qulvalent$ 625,110 1547,7371 Cash an¢J cash equivalents at beginning ol year 1.970.361 2.518,098 Cash and cash •qulvalents at ènd of year 2,595.471 1.970.361 14
FAIRFIELD FARM TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JUL Y 2025 Accounting poli¢ies Charity inlormation Fairfield Farm Trust is a private company limited by guaranteè Incorporated in England and Wales. The r&gi5tered office is 43 High Street. Dillon Marsh. Westbury. Witshire, BA13 4DL. 1.1 Accounting ¢onv•ntion The financial statements have been prepared in accordance With Ihg charitable company's articles ol association. the Companies Act 2006. FRS 102 "The Financial Reporting Standard applicable In the UK and Republic ol Ireland" I"FRS 102.1 and the Chantie5 SORP "Ac¢ounting and Reporting by Charities." Slateinent of Recommended Practjce applicable lo charities prepanng their accounts In accordance with the Financial Reporting Standard applicab In Ihe UK and Republ¢c ol Ireland IFRS 1021" leffective 1 January 20191. The charity is a Public Benefit Entity as dtrfed by FRS 102. The financial stat8menls are prepared In 5tÈrfiny. which is Ihe functional CUncY of the Ghaiity. Monetary amounts in these finantial slalemenls arè rounded lo the nearest £. The financial statements have been prtrpar$d under Ihe historical cost convention. modified lo Include the revaluation ol certain financial instsuments ai fail value. The pnncipal acwjnting poliryes adoplod are sel out below. 1.2 Golng eoneÈrn Al the lie ol approving the financial slalemtnts. Ihe Irusiees have a reasonable expectation that the charity has adequate resources lo continue in operational exislencè lor the Iofeseeable lulure. Thus the Iruslees conlinug to adopt the going concern basis of accovnling In preparing the linancial slatemenls. 1.3 Charitable fund5 Unr8slricled funds are available lor use at Ihe diScOn of Irustaos in furtherance of their chariiable obj•¢tivès. D95ignat8d lunds comprise funds which have been sei asidè al the discrelion ol Ihe trustees lor specific purrK)sès. The purposes and uses of the designated funds are sei out in the notes lo the financial 518iemenls. Restrictèd funds ar8 subject lo specific condilions by donors or grantors as lo how they may b8 usèd. The purposes and uses of the $tricted lunds are set out in the notes to ttr.e financial slalernenls. 1.4 Incom• InGome Is recognise¢J when ine cnartty Is iegaity èniiiieo to 11 after any perfomanc? condlilons nave been mtrt. the amounts can be measured reliably, and rt is pvobable that income will be received. Cash donations are recognised on recwpt. Other donabons are recognised once the charity has been notified of the donation. unless performanee conditions require deferral of the amount. Income lax recoverable in relation lo donations received under Gin or deeds of ¢Dvenanl Is recognised at the lime of the donation Legacies are reco9nised on receipt or olherwise If the chanly has been notified ol an irnpernding d15tribution. the amount is known. and receipl is expected. If the arvount 15 not known. the legacy is treated a5 a contingent asset. Income from government and Oiher granls are recognised al laii value when the charity has entitlement to the funds. any performance conditions have been mel. it is probable tha: the income will be receNed and the arnount Can be measured reliably. If entillement is not met then these amounts are deferred. Income from trading activities includes income recewed from fundraising events and trading activities. 15
FAIRFIELD FARM TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JUL Y 2025 Accountlng poli¢ies IContinu8dl Investment income is earned through holding assets tor investment purposes such as shares. It Includes dividends antj interest. 11 is included when the amount can be me3sJred reliabty. Interest on fund5 he on deposit Included when receivable ané Ihe amounts can be measured reli8bly by the charity.. this Is nom)ally notification of Ihe interest paid or payable by Ihe bank. 1.5 Expenditur¢ Liabilili8s are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expendtlure. it Is probable Ihat a iransfer ol economic benefils will be Teouired In settlement and the amount of the obligation can be measured reliably Expenditure Is recognised on an accruals basis and has been classified under headings that aggrega all cosi relaling lo th8 Category Expenditure includes any VAT which cannot be lully rewver&d. All costs are allocated between expenditure ¢alegorS ol Ihe Statement ol Financial AGlivilies on a basi designed lo reflècl the use of Ihe resources. Cosis relaling lo a particular aGtivty are allocated dire¢tly, others arg apportioned on èn appropriate basi5. 1.6 Tan9ible flxed asse¢s Tangiblc fixod a5set5 ara initially measured at cost and subsÈqu6niJy measured at cost or valuation, nel ol depreciaiion and any Impairment losses. Depreciation is reco9nisèd so as lo wile olf Ihe cost or valuation ol assets less their residual value5 over Iheir Useful Ilv&s on the following bases.. Land and buildings Property rolurbi5hmenl Plant and equipmonl Fixturgs and filtings Computers Motor vehicles 2°h on a straighl line basi$ 4°/0 on a straighl linè bas s 25% on a straighl line basis 20Q/& on a siraighl line basis SO/¢ on a straighl linè basis 25.10 on a slraighl lintr basis The gain or loss arising on thè disposal of an asset is datermsned as the differèncè beeen the salè proeèèds and the carrying value of the assgl. and is recognised in the slalemeni of financial activities. Assets costing £1,000 or nre are caprtalisod as iangibl¢ fixed assets and are carrièd al cost, net ol <Jepreciation and any provision for impairmenl. 1.7 Fixed ass•t inve$¢m8nis Fixed asset Investment5 are initsally measured at Iransaclion price excluding transaction costs, and aro subsequently measured at fair value al each reporhng dale. using th8 closing quoted market price. Changes in lair value are recognised In nel Come1{expend1tVreI lor the year. Transaclion costs are expensed as incurred. 1.8 Impairment of flx6d assfrls Al each reporting end date. the chaiily reviews the cairying amoJnts of lis iangible assets to determine whether there is any indication that those assets have SLrffered an impairment loss. 11 any skjch Indication exists, the recoverable amounl ol the asset is eslimaled in order to delermine the èxtènt of the impa1ent loss lif any) 16_
FAIRFIELD FARM TRUST NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 JUL Y 2025 Accounting policies Icontinuedl 1.9 Stocks Stocks are stated at the lower of cost and estimate(I sellrng price less StS to complete and sell. Cost comprises direct materials and, where applitable. direct labour costs and those overhead5 that have been Incurred in bringing the stocks lo Iheir present localion and condition. Items held for distribution at no or nominal consideration are meas¢Jred the lower ol rèplacement wsi and cost. Net realisable value is itte estimated sellin9 price less all estim8ted wst5 of cornpletson and costs to ba Incurred in marketing. selling and d15tnbution. 1.10 Cash and cash •qulvalènt$ Cash and cash equivalents Include cash In hand. deposils held ai call with banks. olher short-lerm liquid Investments with onginal maturities ol Ihree months or less, an¢J bank ovèrdrafts. Bank overdrafis are shown within borrowing5 in current liabilities. 1.11 Flnan¢lal Instruments Ttte charity has olccled to apply Ihe prO¥n$$ of Section 11 '8asic Financial InsiTume#ts' and Section 12 'Olhèr Financial Instrumèn1515sy•s' ol FRS 102 to al of ils finanGial in5trumgr7ts. Finoncial Instrumvnls 819 r¥cggni59d in Ihg tharivs balan she?1 when the charily becgmos porty lo tho ¢ontraclval provisK>ns of the Insirument. Financial asset5 and liabilities are offset, with the net amounts presented in the financial statemenls, when there is a legally enforceable right lo sel off the recognised amounts and thèrè Is an Intenlion lo settle on net basis or to realis8 Ihe assel and Settlè th& Iiabilily simultaneously. Baslc flnancl41 asset Basic financial assets, which include detst0 and cash and bank balances. are initially measured al transaction price including Iran5aclion costs and are subsequently carried al amortised cost using the effective Interest metkod unless the arrangement conslitules a firlanung transaction where the transaction is measured al the present value ol the lulure receipts discounted at a market rate ol interest. Financial assets classified as r•ceivablè wilhin one year ar8 not amonised. 8aslc financlal Ilabllltles 8asic financial Iiatiilities. including creditors and bank loans are Initially recognised al transaction price unless the arTangement con5tilutÈs a financing transaction. where Ihè debt Irb51rument Is measured al the presènt value of the future payments di5counled al a markel rate of Interest. Financial liabilities classified as payable within one year are nol arnortised. Debt insliuments are subsequenlty carried at amortised eosl. using the elleclive interest ralè mèthod. Trade cre(tilors are Oblall0n5 to pay for goods or services thal have been acqui¥ed In the ordinary course of operations from suppliers. Amount5 payable ale ¢las5ified as current liabilities rf payment is due within one year or less. If nol. they are psented as non-currenl Iiabililies. Trade CditOrS are recognised initially at transaction price and 5ubsequenlly measured at amortssed cost using the eflective interest method. Derecognition of financial li8bilities Financial Iiabililies are eregnIsed when the charity's contractual obligations expire or ar8 discharged or Cancelled.
FAIRFIELD FARM TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 JUL Y 2025 Accountlng pollcles (Continuedl 1.12 Taxation The charity is considered to pass the lesls set out in Paragraph 1 Schedule 6 01 the Finance Aet 2010 and therefore it meets the definition ol a charitable Company lor UK corporation lax purposes. Accordingly, the charity is potentially exempl from laxalii)n in respecl ol income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Acl 2010 or Section 256 of the Taxat on of Chargeable Gains Act 1992. lo the exlenl that such Incorne or gains are applied exclusively lo chantable purpose5. 1.13 Employ0• b•nefi"ts The c05t ol any unused holiday enlillement is recognised In the period In which the employèé's sejvices are received. Termination bènefits are recognised immediately as an expènse when the charity is demonstrably committad lo terminalo tho employment of an employee 01 lo provide terminatson benefits. 1.14 R•tiroment benefit Paymenislg defined contribution retirement benefit schèmes are charged as an expènse as they fall due. Crltical accounting ?$timates and ludgemgnls In Ihe application of the chanly s accouniing policies. Ihe trustees are fequired lo make judggmènls. estimales and 855umplions aboul Ihg carying amounl ol assèis and liabilities thai arè not readily apparent from oiher sources. The estimates artd associated assumptions arè based on hislorical èxperience and other laclors that are Consider lo be relevanl. Actual results may dilt8r from these eslimales. The estimates and underlying assumptions are reviewed on an ongoing basi5 Revisions to accounting estimates are recognise¢J In Ihe period in which Ihe eslirnaie is revised where the revision affects only Ihal period, or in Ihe period ol Ihe revision and future per$ where Ih? rtrvision affects wlh current and fuluré periods. Income from donations and legael•s Unr•stricted R•strlc¢ed funds funds 2025 2025 Total Unrestricted R•$tri¢tfrd fvnds funds 2024 2024 Total 2025 2024 Donaiions and gifts Grants 13,970 13.970 107,537 2.729 2,729 153,267 107.537 153,267 13.970 107.537 121,507 2.729 153,267 155,996 Grants Education and Skills Funding Agency Rural Payments Agency Youth Sports Trusi Willshire Council 103.261 883 3.393 103.261 883 3,393 121.867 121.867 5.400 26.000 5.400 26.000 107.537 107.537 153.267 153.267 18-
FAIRFIELD FARM TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FQR THE YEAR ENDED 31 JUL Y 2025 Income from donatlons and legacles IContlnu•dl Donated goods and services The chanly benefits from the Invoement an¢J support of Ils volunteers. In accordance with the FRS102 and the ohanties SORP IFRS 1021, the ecorbomic contribution of genefal volunteer5 Is not re¢Dgnised In the accounts. Income fTQm charitable a¢ti¥itig$ Unrestricted furtds 2025 Unr•¥tricted funds 2024 Educatlonal serylces Sale of good5 3.346.527 3, 172,244 Care servlces Sale of goods 1.904,662 1,865.256 5.251.189 5 037.500 Qlhor Iradlng a¢ti¥ltl•s Unrè#triet•d Unrostrlet•d lunds funds general gonèral 2025 2024 Farrn, shop and café 5ale5 Other incorv8 776.087 25.823 959.401 35.591 Other trading aclivities 801.910 994.992 Income from investmenls Unreslrlcled UnrÈstrlcted funds fund$ 2025 2024 Interest receivable 51.093 30.211 19-
FAIRFIELD FARM TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JUL Y 2025 Raising funds Unrestricted Unrestrictèd funds funds g•neral 9¢neral 2025 2024 Tradin costs Operating commefeial aclivities Slaff costs Depreciation and impairment Support ¢0sts 520,529 565, 132 179.266 83,203 537,960 665,058 138,272 91.118 Trading costs 1,348,130 1.432,408 1,348.130 1,432.408 Charltabl¢ actlvitl•s Educational ser¥i¢g$ Carè serylces 2025 2025 Total 2025 Total 2024 Staff costs DepClatoN and Impairmenl Premises costs Provision of sèrvices Irrecoverablè VAT Bad and doubilul debl 1.998.879 188.515 132.720 568.640 45.992 1.124.316 41.126 $4,897 208, 179 17.496 27,881 3.123.195 229,641 187,617 776.819 63.488 27.881 2,955.874 213.912 134.900 713.182 94.760 26.367 2.934.746 1 473,895 4,408,641 4, 138.995 Share of support costs lsee note 91 Share ol govemance ctssts Ise6 note 91 269.$00 149,678 419.178 356.958 11.340 6,300 17,640 14,454 3.215.586 1.629.873 4.845,459 4,510,407
FAIRFIELD FARM TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JUL Y 2025 Suppc•rt ¢osts allocattd to activities 2025 2024 Staff costs Governance costs 499.021 21.000 444.530 18.000 520.021 462,530 Analysed bthv¢?n'. Fundraising Educa110nal sgrvices Care $8rvices 83.203 280.840 155.978 91.118 253,004 118,408 520.021 462,530 10 Ngt rnovèm•nt In lunds 2025 2024 The nel movement in fund$ Is slated after chargingllcrediting}'. Fees payable lor the audit of Ihe charity'5 financial stateFnenls Depreciation ol owned langible fixed a55¢ts Impairrnent of owned tangible fixed asseis Loss on disposal ol 18ngiblÈ fixed assets 21.000 367.899 41.008 18.000 352.184 4.700 11 Trust••5 None of the Iruslees lor any persons connected with them) received any remuneration or benefit5 from th8 charity during Ihe year. 21
FAIRFIELD FARM TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 31 JUL Y 2025 12 Employ995 Number of *mployees The average monthly number ol empbyees dunng Ihe year was-. 2025 Number 2024 Nurnber 15S 161 Employm•nt costs 2025 2024 W8ges and salaries Social security costs Oltrer pension costs 3,689,011 359,554 138,783 3,624,582 303,956 136,924 4.187,348 4,065,462 The number of employee5 whose annu iemuneralitsn was £60.000 or mor• were. 2025 Number 2024 Number £60.001- £70.000 £70,001- £80.000 £80,001 - £90.000 Key managpment pèrsonn81 of the charily eompris8s the Tiuslees and the Senior Managerngnl Team. The total ampltsyee benefils (including employer pension contribution5 and employer naliDnal Insurance conlribulionsl received by key rnanagemenl personnel during the year were £338.34612024' £403.5661. 13 Oth•r Total Unrestricted funds general 2024 2025 Net Ios5 on disposal ol tangible fixed a5se15 4,700 4.700
FAIRFIELD FARM TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 JUL Y 2025 14 Net gain51llossesl on investment5 Unrestricted Unrestricted funds fund5 ggneral general 2025 2024 Revaluation ol investments 3.212 24.286 15 Taxatlon The charity 15 gX8mpt Irom taxaln on it5 acliwtses bocause all its income is applied fix charitable purposes. 16 Impalrments Impairmanl tests have been carried tyjt where appropriale and Ihe loiiowing Impairmenl 1055es have been recogni3¢d In profil oi loss. 2025 2024 In rèspèct ol" Proparty, plant and equiprnent 41.IJ08 17 Tangiblg fixod assèts Land )d bulldlngs Pianl and Flxturt and equlpm•hl ttjngs Comwtr• Molor v•hl¢l•s Tot•1 Cogt Al 1 August 2024 Addilions 7.801.194 19.313 143.499 960.432 40.518 233.855 16.386 6 500 9,145.480 10.415 86.632 Al 31 July 2025 7.820,507 143.499 1.IJOO.950 250.241 16,915 9.232.112 Depreelatlon and impairment At 1 August 2024 Depreciation charged in the year Impairment losses 1.764.907 127,064 662.003 207.626 2,031 2.763.631 186.749 41.008 9.245 144.163 25.249 2,493 367.899 41.008 At 31 July 2025 1.992.664 136.309 806.166 232.875 4,524 3.172.538 Carrying amount At 31 July 2025 5.827.843 7.190 194.784 17.366 12,391 6.059.574 Al 31 July 2024 6.036.287 16.435 298.429 26.229 4 469 6.381.849 More information on Ihe impairment arising in the year is given in llote 16. -23-
FAIRFIELD FARM TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 JUL Y 2025 18 Fixed asset investments Listed investments C05t or valuation Al 1 Augusl 2024 Valuatson changes 774.288 3,212 Al 31 July 2Q25 777,498 Carrying amount Al 31 July 2025 777.498 Al 31 July2024 774,286 19 Stocks 2025 2024 Feed stuffs and consumables Livestock 27.574 36.171 39.978 35.500 63.745 75,478 20 Dtbtors 202S 2024 Amounts tallbng du? wlthln one year: Trad? debtors Ocher deblors Pr8paymenls and accrued income 121.199 10,000 110,770 380.531 5.250 89.667 241.969 475.448 21 Credltor$= amounts falllng due within one year 202S 2024 Other taxa',Ion and Social security Trade creditors Other creditors Accruals and deferred Income 169,356 115.119 23,878 42.014 104.873 151.278 27.570 41.133 350.367 324.854 24_
FAIRFIELD FARM TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JUL Y 2025 22 Retirement b&nefil schemos 2025 2024 Deflned contribution schtm•s Charge to profit or kjss ln respect ol defined conlributK)n schemes 138,783 136.924 The ¢harity operatas a defined contribution pension schefne lor all oualilying employees. The assels of the scheme are held sèparatèly from those ol the chanly in an independently administered lund. 23 Sharg Capital 2025 2024 Ordlnary shar• capltal 10 Ordinary shares 01 £1 each 10 10 25-
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FAIRFIELD FARM TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JUL Y 2025 25 Unrestricted funds The unrestricted funds of the charily compnse the unexpended balances of donalions and grants which aig not subject to specific condrtion5 by donors and grantors as to how they may be used. These Include designated fvnds which have been sel aside oul of unrestricted funds by the trustees for specific purposes. At 1 August 2024 Incomlng Re50urcè$ r•sour¢e$ expendèd Transfers Gains and losses At 31 July 2025 General lun Fixed as5ei lund Asset purchases and repairs 'und Consullalion and legal works fund Breakspear Nursery Development Fund Classroom Build Proi¢cl 1,814.822 6,381.849 6,118,162 16.193.589) 580,247 1322.2751 3,212 2.322,854 6.059,574 250,000 1150,0001 loo,000 100,000 125,0001 75.000 750,000 1750.0001 750.000 750,000 9,296,671 6.118.162 16.193.589) 82.972 3.212 9.307.428 Provl¢u$ y•ar'. AI 1 August 2023 Incoming Resourc•s rèsources expended Transl•rs GaSns and losses At 31 July 2024 General lund Fixed asset lund Assel purchases and repairs fund Consullalion and egal works fund Breakspear Nursery D*veloptnènl Fund 1.611.282 6,605.230 6.065.432 15.947.5151 61.337 1223.3811 24.286 1,814.822 6.381.849 730,000 1480.0001 250,000 84,000 16.000 100,000 750.IK)O 750,000 9.030.512 6.{5.432 5.947.515 123.956 24.286 9,296,671 -28-
FAIRFIELD FARM TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 JUL Y 2025 25 Unrè5trict•d funds (Continuedl Fixed asset fund The fixeu assel fund represents the value of functional fixed assets designated s8paralely on the basis that the assets are not available for lunding of the charity s activities in the short term. The transfer 01 £322.275 from the fun(J represent the value of fixed assets èddilions less disposals and the depreciation charge in the period. Asset urchases and re Ir5 fund rh8 asset purchases and repairs fund represents lunds designated separately for the purchase. red8coration and Tepair of specific properties. Consultation and le al works Fund5 dgsi9nai¢d lor the legal and consumalion worb related lo the Break5pear Nursery Development Project. Develo enl fun Funds dèsignalfrd lor the regeneration and development of the Breakspear Nursery Sile lo provide new and additional college and residential buildings. Thè charity no longer has plan5 to develop this sile so the funds have been Iransferrtrd out. Classroom Build Pro Fund6 designated lor the cosls of a new classroom. 26 Analysls of n•t •s$•ls funds Unrestricted lunds 2025 R•5trictod funds 2025 Total 2025 Fund balan¢95 at 31 July 2025 are represented by: Tangible 855els Investments Current asset511liabilili¢sl 6.059.574 777.498 2.470.366 6.059.574 777.498 2.550,818 80.452 9 307.438 80.452 9.387,890 Unrestrlcted fun(ts 2024 R•stricted fund5 2024 Total 2024 Fund balancès at 31 July 2024 are repres•nt•d by: Tangible assets Investments Current assetsllliabilitiesl 6,381.9 774.286 2. 140.546 6.381,849 774,286 2.196,433 55.887 9,296.681 55.887 9.352,568 -29-
FAIRFIELD FARM TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JUL Y 2025 27 Operating Itase commitments Amounts recognised in profft or bss as an expense during the period in respect of operating lease arrangemenls are as follows-. 2025 2024 Minimum lease payments under operating leases 65.988 40.383 65,988 40,383 Al the reporting end date the charily had outstanding commtmenls for fUt[t rninimum lease paym8nts under non4ance118blè operating leas95. which fall due as fc41ows". 2025 2024 Within one year Between tsvo and live years In over five years 48,360 78,340 42.411 55.886 25 126,700 98.322 28 Related party transactlons Transa¢tion5 wlth related parties During the year the charity èntered Into Ihe lollowng transactions with relatéd parties. Purchase of good$ 2025 2024 Othtrr related parties 5.978 In the year ended 31 July 2024. a close lamity member of one of Ihè Senior Leadership Team was paid £5.976 for their work on the Mulliply project. -30-
FAIRFIELD FARM TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JUL Y 2025 29 Cash generated from op•ratlrtrn$ 2025 2024 Surplus for the year 35,322 295,470 Adjustmènts for: Investment Incorne recognised in 5talemenl of finroI activit5 (Gainllloss on disposal ol langible fixed asse15 Fair value gains and 105se5 on investments Depreciation and irnpairmènt of langible fixed assels 151,0931 130.2111 4,700 124,28fj1 352,184 13,2121 408,907 Movernents in worklng capltal: Decreaseliincroasel in stock5 Decrea5ellincreasel In debtors Increasèlldacreasel in creditors 11,733 233,479 25,513 127.1261 1222,5721 143,0851 Cash geneTa¢gd from op•ratlons 660,649 305,074 30 Analysi8 of changes in net fund$ The charity had no material debt during the yÈar. 31