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2024-03-31-accounts

Company no. 01409415 Charity no. 277287

Windmill Hill City Farm Limited Report and Audited Financial Statements 31 March 2024

Windmill Hill City Farm Limited

Reference and administrative details

For the year ended 31 March 2024

Company number 01409415 Charity number 277287 Registered office and Windmill Hill City Farm operational address Philip Street Bedminster Bristol BS3 4EA Trustees Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows: Alice Clarke Jamie Darwen Susanna Dunham Stefan Edwards (resigned 18 April 2023) Stephen Frost (appointed 22 January 2024) Francesca Inman (resigned 17 April 2024) Gemma Instrall (appointed 13 May 2024) Claire Jeffwitz (appointed 22 May 2023) Sally Jones Elizabeth Lewington (resigned on 23 May 2023) Jonathan Lund Karina Nicolson (resigned 18 September 2023) Anne Sharp (Chair) Isobel Wales (appointed 25 March 2024) Elizabeth Warren (appointed 22 January 2024) Chief executive officer Stephen Sayers Company secretary Stephen Sayers Key management Montserrat Buitrago - Café Manager personnel Sara Chapple - Health & Social Care Manager Dale Cranshaw - Deputy CEO (until October 2023) Simone Dougall - Sales, Events and Marketing Manager Nigel Ledson - Facilities Manager (until March 2024) Sarah Mellor - Office/HR Manager Alia O'Callaghan - Finance Manager Nicky Orr - Outdoor Learning Manager (until August 2023) Julie Thorpe - Outdoor Learning Manager (until August 2023) Laura Usher - Children and Family Services Manager

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Windmill Hill City Farm Limited

Reference and administrative details

For the year ended 31 March 2024

Bankers The Co-operative Bank Nationwide Building Society 1 Balloon Street Nationwide House Manchester Pipers Way M60 4EP Swindon SN38 1NW Auditors Godfrey Wilson Limited Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD

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Windmill Hill City Farm Limited

Report of the trustees

For the year ended 31 March 2024

Reference and administrative information set out on pages 1 and 2 forms part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association and the Statement of Recommended Practice - Accounting and Reporting by Charities (effective from January 2019).

Legal status

Windmill Hill City Farm is a company limited by guarantee (number 01409415) registered as a charity (number 277287). It is governed by its Memorandum and Articles of Association and the Companies Act 2006. The organisation has a subsidiary trading company, Windmill Hill Farm Community Enterprises Ltd (number 02792746), which is wholly owned by the charity.

Introduction

Windmill Hill City Farm (WHCF) is an independent community organisation established in 1976 that provides a wide range of services and facilities focused around a farm and community gardens. The 4.5-acre inner-city site is leased from Bristol City Council with a peppercorn rent. The current lease was signed on 20 July 2017 and is for 35 years commencing 1 August 2016.

The objects of the charity are:

Objectives and activities

Vision and Mission: Overview

The organisation works to a three-year plan. A new three-year strategy was published in March 2023 covering 2023 – 2026.

Our vision is for all local people to live active, healthy, and fulfilled lives in a friendly and sustainable neighbourhood. They have fair access to services, to outdoor spaces and nature, to places to meet each other and celebrate as a community, and to resources that enrich their understanding of food farming, and the environment.

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Windmill Hill City Farm Limited

Report of the trustees

For the year ended 31 March 2024

Our mission is to improve people’s lives by curating community spaces and services.

Our values are:

Our aims are focused on five inter-related areas:

Our strategy will inform and guide our future activities and initiatives over the next three years.

The organisation aspires to be:

An organisation

A place

Public benefit

In preparing this report the trustees have complied with the duty under Section 4 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission in relation to meeting the public benefit requirement.

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Windmill Hill City Farm Limited

Report of the trustees

For the year ended 31 March 2024

Developments and achievements in 2023-24 Overview

The challenging financial environment has continued into 2023-24 with the organisation posting a loss of £219,881 for the financial year ended 31 March 2024. The continuing fall out from geopolitical and economic instability continued to manifest in high energy costs and food inflation affecting not only the farm but the wider community. Staff costs are a large part of our expenditure and we are committed to paying the Real Living Wage which rose by 10% in October 2023, adding to the previous 10% rise in November 2022.

Recruitment at the nursery continues to be a significant challenge. This is an industry wide issue, not one that is specific to our organisation. We continue to review our recruitment and employment practices, seeking to ensure that we offer a competitive and attractive proposition. The issues with recruitment affect our ability to operate the nursery at full capacity with consequent impact on the farm’s overall profitability. However, we are seeing some more positive signs and hope to be near capacity for the 2024 autumn term.

Notwithstanding the challenging environment, the farm has continued to develop and grow. The Windmill Hill Markets are now firmly established, and the Garden Theatre enjoyed a successful first season with most performances being at full capacity. The Orchard Sauna opened during the year attracting growing interest and participation. The Studio is no longer occupied by a single tenant leading to a wider offering of classes that are proving very popular.

The second site at Hartcliffe has seen significant progress both in terms of the infrastructure at the site as well as the offering to the local community. The site now has a small number of animals, gardens, and a flower farm. School groups and families have been welcomed by the Outdoor Learning team and wellbeing placements have been undertaken by WHCF Health & Social Care team. Balancing the ongoing work at WHCF whilst expanding the Hartcliffe site continues to demand a lot from staff.

The trustees recognise the commitment and hard work of all staff throughout the organisation and extend their gratitude and appreciation.

Finance and fundraising

As stated above, the challenging financial situation continued into the 2023-24 year with costs remaining high including energy, food, and employee costs. Ongoing recruitment issues have impacted our childcare provision and our ability to operate at full capacity with negative implications for our overall income levels.

Overall, we retain a good balance of income sources with childcare, café and room hire the main source of our traded income. The nature of the businesses is well within the realm of primary purpose, and directly helps to deliver aspects of our charitable aims around education and providing public facilities. We have good relationships with the charitable funders who contribute large amounts of capital investment and the contracts we undertake with healthcare partners are well established. The advantage of stability of longer contracts is currently being challenged by the high inflation rate, which is undermining their value.

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Windmill Hill City Farm Limited

Report of the trustees

For the year ended 31 March 2024

We continue to appreciate the benefits of a dedicated fundraising function.

Year Won Failed
2023-24 28 bids to value £390,049 26 bids to value £1,185,242
2022-23 25 bids to value £308,450 11 bids value £82,480
2021-22 20 bids value £607,550 10 bids value £856,750
2020-21 16 bids value £249,438 14 bids value £486,140
2019-20 14 bids value £233,000 9 bids value £504,000
2018-19 7 bids value £87,057 10 bids value £407,200
2017-18 9 bids value £148,000 11 bids value £225,000
2016-17 19 bids value £772,410 5 bids value £141,510
2015-16 14 bids value £117,000 19 bids value £1,270,000
2014-15 21 bids value £220,000 20 bids value £730,000

The key financial risks to the organisation are:

Reserves policy

Windmill Hill City Farm achieves much of its work through grants and donations that help to achieve its mission as earned income alone would not allow the organisation to have the greatest social impact. This means that if there were to be a decrease in funds secured and donations received, the farm would have to reduce its charitable activities and, in the worst case, close.

To maintain effective operations of the organisation the board of trustees has agreed to work towards a financial reserve of 3 months operating costs. This level of reserve would allow staff to continue working to secure new funding and if necessary to allow time to cut services in a way whereby service users are supported to move on. The board has agreed that a period of 6 months’ reserves should be the longer-term aim. This is an amount it considers prudent in the event of a major business interruption as determined by an analysis of risks to the charity. This target is balanced alongside our aim of remaining a ‘living wage’ employer – another important call on any surplus generated by the organisation.

To establish or maintain this level of reserves Windmill Hill City Farm will:

If all income were to cease, we have calculated that reserves of £600,000 would be needed to continue running current services for at least 3 months.

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Windmill Hill City Farm Limited

Report of the trustees

For the year ended 31 March 2024

This figure is based on operating costs and fixed liabilities at the time of this policy being reviewed. The finance sub-group reviewed the method used to calculate the reserve and is satisfied that this calculation is robust.

The reserves will be built up from the unrestricted income. The level of reserves will be calculated and monitored and reported to the board. At the end of the year the consolidated unrestricted reserves, excluding fixed assets and investments, stood at £312,108 (2023: £487,380).

The continued pressure on energy and other costs experienced throughout 2023-24 continues to impact the charity, its staff, and people in its community. The trustees have considered the impact of this issue on the charity’s current and future financial position. Much of the charity’s income is traded through activities where the costs can be scaled to the income. Childcare is its biggest operating area, with healthcare a significant part. Both areas benefit from statutory support making them relatively robust to economic changes. The trustees consider that the charity has sufficient unrestricted reserves and cash flow to continue as a going concern for a period of at least 12 months from the date on which these financial statements are approved. For this reason, the accounts have been prepared on a going concern basis.

Education

The activities of our nursery continue to be challenged by a severe shortage across the early years sector of qualified staff. Recruiting and retaining staff takes up a great deal of the time of our senior team and places additional demands on our room-based staff. Despite the challenges, we once again achieved the Bristol Standard quality mark. We also hold a rating of Good from Ofsted.

A survey of nursery parents in December 2023 delivered some gratifying results. 85% of respondents rated their child’s key person as excellent and 100% of respondents said they felt listened to and valued. Parent were asked to describe the nursery in three words – caring, friendly, approachable and nurturing were frequently used.

School visits continued at Windmill Hill City Farm with a growing number of visits taking place at our Hartcliffe site. The Outdoor Learning team continue to receive excellent feedback from schools who clearly value the work we do with them. Children in Need funded nurture sessions were set up with two local schools. Halloween sessions across both sites and a Harvest Fair at Hartcliffe were well attended. £10,000 was raised through The Big Give campaign which will fund additional supper clubs.

Wellbeing

Funding from The Henry Smith Charity continues to support our health and social care (H&SC) work. Our WHCF Supported Farm Placement Service is running at full capacity as are our Supported Volunteer groups. H&SC services at Hartcliffe have expanded. We continue to seek additional funding, particularly from the NHS, to support the increase in the scale and scope of our mental health programme.

Our focus remains a combination of work with people with mental health and learning difficulties, working in supported groups in the farm and gardens, including expanding into our site at Hartcliffe.

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Windmill Hill City Farm Limited

Report of the trustees

For the year ended 31 March 2024

A survey of H&SC participants conducted in May 2023 generated the following results:

Comments such as ‘ Thank you for providing such a kind, safe and inclusive space for people to learn and heal in. ’ reinforce the value of the work being undertaken at the farm.

Community spaces

The capital works on the current Hartcliffe site are largely complete and the farm is now open 7 days a week. As with WHCF, there are no admission charges. A family fun day - Hart Fest – with sheep shearing, live music, and other attractions was a great success. We have agreed heads of terms with Bristol City Council for a 35-year lease which would give us access to 24 additional acres of fields alongside the 6-acres of the main farm site.

The café at Windmill Hill is trading well, particularly at weekends. The Warm Space project continued over the winter.

Monthly Windmill Hill Markets are now firmly established, and the first season of the Garden Theatre was well received. These initiatives, as well as the Orchard Sauna, serve to introduce new visitors to the site.

The pigs at WHCF are enjoying palatial new accommodation provided by the Bristol City Council as recompense for taking a sliver of the site for a new cycle lane on Whitehouse Lane. The disposal of this small parcel of land was fully considered by the trustees after external valuation, which demonstrated it to be of minimal value to the charity.

Trustees also agreed to an easement to allow a district heat pipe to pass under the gardens. This will deliver heat to the Bedminster Green development. In recompense there are several measures, including full restoration of the space, re-surfacing the accessible path around the gardens, a new perimeter fence, new gates and resurfacing the compound area. In addition, a branch pipeline will bring the heat network close to the barn to allow for future connection to the network. Works are anticipated in winter 2024/5.

Community leadership

We continue be involved in discussions concerning the development of the local area and how this can be used to benefit local people. Discussions with respect to the creation of a community hub on East Street have slowed. In September 2024, the new student accommodation on our boundaries will have its first tenants and we look forward to seeing how the students and the farm can interact.

Climate change is an important focus for the organisation. The Love East project launched in 2023 at Windmill Hill. We are one of six community organisations in the city that have secured funding for the Community Climate Action Project Learning & Mentoring Programme and are lucky to be working with experts across the city, with support from Bristol Climate and Nature Partnership.

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Windmill Hill City Farm Limited

Report of the trustees

For the year ended 31 March 2024

Stronger organisation

We have an engaged board who bring a good range of skills and experiences. The board meets bimonthly and board members are also members of various sub-committees including Finance, Personnel and Health and Safety. We also have a designated Safeguarding lead.

Staff wellbeing continues to be a high priority throughout the year given the more recent challenges so soon after the pandemic. We continue to seek the views of our staff through surveys and conversations, respond with new initiatives where we see those opportunities, and to put measures in place to undertake health reviews where staff show high levels of sickness. Staff wellbeing will remain a high priority for us going forward. We are pleased to be able to say that we have achieved accreditation as a Living Wage Employer.

Plans for future periods

The growth and development of the organisation is likely to focus on building its adaptability and resilience. We intend to undertake a review of mid-term objectives in autumn 2024 and will look to establish our role in the wider community balanced against consolidating our core activities in the challenges that the wider economic conditions throw at us.

The development of our work on our second site at Hartcliffe City Farm with our partners Heart of BS13 will remain a major area of work as we continue to build the independence of HCF from its parents. We are close to signing a 35-year lease for the site with Bristol City Council including a significantly larger plot of land.

The board of trustees

The board of trustees, who are directors for the purpose of company law, who served during the year and since the year end, are shown on page 1.

Members aged 18 and over are eligible to stand for election to the board of trustees at the AGM. The trustees have powers to appoint board members between AGMs, with new board members having to stand for election at the next General Meeting.

Trustees are recruited from the membership of the organisation by open advertisement when vacancies arise, or in response to unsolicited enquiries by prospective trustees. New potential trustees have an initial informal meeting with the Chief Executive (CEO) or Chair to gain a full understanding of the role, its responsibilities and expectations. Potential trustees are invited to attend a board meeting as an observer. Should they wish to join the board they complete an application form and supply two independent referees. If references are satisfactory their appointment is put to the board at the next scheduled meeting. All trustees appointed in this manner must stand for election at the next AGM.

New trustees are encouraged to attend a training course on ‘being a good trustee’ to ensure that they have a good grasp of their responsibilities and obligations. Trustees are issued with an induction pack that outlines policies and procedures for the organisation and key facts about the organisation (e.g. funding sources, turnover, staff numbers, departments, key risks). New trustees with little board experience may be assigned a ‘buddy’ from among existing trustees who can offer guidance.

Trustees as a group review their own performance and engage periodically in board development and training. This varies in nature according to the circumstances at the time of assessment.

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Windmill Hill City Farm Limited

Report of the trustees

For the year ended 31 March 2024

Structure, governance and management

The organisation is a voluntary one with around 280 registered members and is governed by a board of trustees elected from and by the members. Its area of benefit is geographically determined as ‘Windmill Hill and the neighbourhood thereof’. The practical boundary, used to determine membership classes, is about a 2-mile radius around its South Bristol location (see http://g.co/maps/9uepj for details). The organisation is run on a day-to-day basis by a staff team of an average of 129 full and part-time people led by a full-time Chief Executive.

Day-to-day operation of the organisation is delegated to the Chief Executive according to a scheme of delegation. This document sets out which decisions are made by the CEO and which need to be authorised by the trustees.

The organisation has 9 departments, each with a department head: Central Services; Children & Family Services; Health & Social Care; Café; Facilities, Farm & Gardens; Outdoor Learning, Sales & Marketing and Finance. The role of Deputy CEO created in January 2023 was eliminated in December 2023 due to the uncertain financial situation of the organisation. The Facilities Manager resigned at the end of the financial year, and it is not currently intended to replace this position. The H&SC Manager resigned earlier in the year and her replacement is now in place.

Windmill Hill City Farm Ltd has a wholly owned trading subsidiary, Windmill Hill Farm Community Enterprises, through which the financial activity of the café and room hire is accounted. In practical terms, these areas act as part of the whole enterprise with no visible distinction for customers. The articles of association of the trading company were updated in 2016 to make the charity the sole member, and to bring them in line with current standards.

Windmill Hill City Farm Ltd also has a 50% ownership of a joint venture, Hartcliffe City Farm Ltd, with Heart of BS13 as the other member. Hartcliffe City Farm Ltd became Hartcliffe City Farm C.I.C. on 19 August 2022.

The organisation is a member of Social Farms and Gardens (accredited with the care farm code of practice), Bristol Association for Neighbourhood Daycare, Voscur and Locality.

Remuneration for all staff is undertaken in accordance with the pay and grade policy. This assesses job size according to four criteria (broadly communication, planning, responsibility and knowledge) and benchmarks it against similar jobs internally and externally within the appropriate sector. Staff up to the grade of CEO are assessed by their manager. The trustees use the same criteria to determine the salary for the CEO.

Members

Windmill Hill City Farm has around 221 members who have voting rights at the AGM. This number has been stable for several years. The AGM was well attended with 31 voting members (21 in person plus 10 proxies). Membership is free and open to anyone over the age of 18.

Risk assessment

In accordance with its risk management policy, the board of trustees regularly reviewed the risks faced by the organisation during the year for the charity and its trading company, particularly services, trading, financial, operational and governance risks. Actions to minimise and mitigate risks have been implemented.

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Windmill Hill City Farm Limited

Report of the trustees

For the year ended 31 March 2024

Key risks to the organisation are typical for an organisation of its size and nature:

The organisation has a risk policy and business continuity plan to manage such issues and monitors the risks to mitigate against them happening.

Volunteers

The organisation makes extensive use of volunteers across all areas of its work and has a detailed programme of activities for groups, independent individuals, and supported volunteers as well as a programme for corporate groups volunteering on-site.

In the 2023-24 year, on our Windmill Hill site, the organisation worked with 153 independent volunteers (engaging 30 new people to become independent volunteers during this period) and 104 supported volunteers (engaging 32 new supported volunteers during this period).

The total number of supported volunteering hours in the year was over 2,098 with a further 3,600 hours of work by independent and gardening group volunteers; a total of 5698 hours on the Windmill Hill site.

Fundraising

The organisation is registered with The Fundraising Regulator.

The charity predominantly fundraises from trusts, foundations, and statutory sources, and receives public donations collected on-site and through digital fundraising. The charity employs two part-time Fundraising Managers who lead the fundraising activities. No professional fundraisers, fundraisers working on the charity’s behalf or commercial participators were used. Aside from registering with the Fundraising Regulator for the first time in 2022, neither the charity nor anyone working on the charity’s behalf has subscribed to any additional fundraising standards.

The charity has complied with the fundraising standards and code of contact. No complaints have been received regarding the charity’s fundraising activities.

The charity is committed to protecting vulnerable people in all areas of work. On-site fundraising uses non-intrusive communication through posters and noticeboards, and staff never place undue pressure on members of the public or volunteers to donate, nor cause an obstruction or nuisance to visitors.

It has been a challenging year for fundraising from grants, but we continue to be well supported by the local community. The Big Christmas Challenge run by the fundraising and marketing teams raised over £11,000 to run weekly supper clubs for families in need. The local community also responded to our call for funds to rebuild two storm-hit shelters raising £2,500.

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Windmill Hill City Farm Limited

Report of the trustees

For the year ended 31 March 2024

Statement of responsibilities of the trustees

The trustees (who are also directors of the charity for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

The trustees are required to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and the group and the incoming resources and application of resources, including the net income or expenditure, of the charity and the group for the year. In preparing those financial statements the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and the group and which enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charity and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

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Windmill Hill City Farm Limited

Report of the trustees

For the year ended 31 March 2024

Auditors

Godfrey Wilson Limited were re-appointed as auditors to the group and parent charity during the year and have expressed their willingness to continue in that capacity.

Approved by the trustees on 16 September 2024 and signed on their behalf by

Anne Sharp Chair

Jonathan Lund Trustee

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Independent auditors' report

To the members of

Windmill Hill City Farm Limited

Opinion

We have audited the financial statements of Windmill Hill City Farm Limited (the 'parent charity') and its subsidiary (the 'group') for the year ended 31 March 2024 which comprise the consolidated statement of financial activities, consolidated and parent charity balance sheets, consolidated statement of cash flows and the related notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group or parent charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the group and parent charity financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the group and parent charity financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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Independent auditors' report

To the members of

Windmill Hill City Farm Limited

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent charity and their environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of the trustees

As explained more fully in the trustees’ responsibilities statement set out in the trustees’ report, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group and the parent charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charity or to cease operations, or have no realistic alternative but to do so.

15

Independent auditors' report

To the members of

Windmill Hill City Farm Limited

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The procedures we carried out and the extent to which they are capable of detecting irregularities, including fraud, are detailed below:

(1) We obtained an understanding of the legal and regulatory framework that the group and parent charity operates in, and assessed the risk of non-compliance with applicable laws and regulations. Throughout the audit, we remained alert to possible indications of non-compliance.

(2) We reviewed the group and parent charity’s policies and procedures in relation to:

(3) We inspected the minutes of trustee meetings.

(4) We enquired about any non-routine communication with regulators and reviewed any reports made to them.

(5) We reviewed the financial statement disclosures and assessed their compliance with applicable laws and regulations.

(6) We performed analytical procedures to identify any unusual or unexpected transactions or balances that may indicate a risk of material fraud or error.

(7) We assessed the risk of fraud through management override of controls and carried out procedures to address this risk. Our procedures included:

▪Testing the appropriateness of journal entries;

▪Assessing judgements and accounting estimates for potential bias;

▪Reviewing related party transactions; and

▪Testing transactions that are unusual or outside the normal course of business.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. Irregularities that arise due to fraud can be even harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

16

Independent auditors' report

To the members of

Windmill Hill City Farm Limited

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charityʼs members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charityʼs members those matters we are required to state to them in an auditorʼs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charityʼs members as a body, for our audit work, for this report, or for the opinions we have formed.

Alison Godfrey

Date: 17 September 2024

Alison Godfrey FCA (Senior Statutory Auditor)

For and on behalf of:

GODFREY WILSON LIMITED

Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD

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Windmill Hill City Farm Limited

Consolidated statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 March 2024

Restricted
Unrestricted
Note
£
£
Income from:
Donations
3
282,786
115,919
Charitable activities
5
95,899
1,115,158
Other trading activities
6
-
710,516
Investments
7
-
5,880
Total income
378,685
1,947,473
Expenditure on:
Raising funds
Running subsidiary
-
446,339
Other fundraising activities
-
88,464
Charitable activities
423,758
1,587,478
Total expenditure
9
423,758
2,122,281
Net income / (expenditure)
(45,073)
(174,808)
Transfers between funds
1,991
(1,991)
Net movement in funds
10
(43,082)
(176,799)
Reconciliation of funds:
Total funds brought forward
1,127,583
521,864
Total funds carried forward
1,084,501
345,065		 2024
Total
£
398,705
1,211,057
710,516
5,880
2,326,158
446,339
88,464
2,011,236
2,546,039
(219,881)
-
(219,881)
1,649,447
1,429,566		 2023
Total
£
487,685
1,268,403
680,426
5,300
2,441,814
470,940
77,928
1,938,503
2,487,371
(45,557)
-
(45,557)
1,695,004
1,649,447

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 22 to the accounts.

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Windmill Hill City Farm Limited

Consolidated balance sheets

As at 31 March 2024

Note
Fixed assets
Tangible assets
13
Investment in joint venture
14
Current assets
Stocks
17
Debtors
18
Cash at bank and in hand
Liabilities
Creditors: amounts falling due within 1 year 19
Net current assets
Net assets
21
Funds
22
Restricted funds
Unrestricted funds
General funds
Total charity funds		 The group
2024
£
1,008,695
2,785
1,011,480
9,225
95,303
579,914
684,442
266,356
418,086
1,429,566
1,084,501
345,065
1,429,566		 The group The charity
2023
2024
£
£
1,079,508
1,008,695
2,785
2,785
1,082,293
1,011,480
9,416
904
37,438
213,894
773,693
433,027
820,547
647,825
253,393
229,752
567,154
418,073
1,649,447
1,429,553
1,127,583
1,084,501
521,864
345,052
1,649,447
1,429,553		 The charity
2023
£
1,079,508
2,785
1,082,293
904
346,587
436,472
783,963
216,822
567,141
1,649,434
1,127,583
521,851
1,649,434

These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies' regime.

Approved by the trustees on 16 September 2024 and signed on their behalf by

Anne Sharp, Chair

Jonathan Lund, Trustee

19

Windmill Hill City Farm Limited

Consolidated statement of cash flows

For the year ended 31 March 2024

Cash used in operating activities:
Net movement in funds
Adjustments for:
Depreciation charges
Interest from investments
Investment in joint venture
Decrease / (increase) in stock
Decrease / (increase) in debtors
Increase / (decrease) in creditors
Net cash provided by / (used in) operating activities
Cash flows from investing activities:
Interest from investments
Purchase of tangible fixed assets
Net cash provided by / (used in) investing activities
Increase / (decrease) in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2024
£
(219,881)
93,445
(5,880)
-
191
(57,865)
12,963
(177,027)
5,880
(22,632)
(16,752)
(193,779)
773,693
579,914		 2023
£
(45,557)
91,064
(2,515)
(2,785)
691
2,826
(15,498)
28,226
2,515
(45,710)
(43,195)
(14,969)
788,662
773,693

The charity has not provided an analysis of changes in net debt as it does not have any long term financing arrangements.

20

Windmill Hill City Farm Limited

Notes to the financial statements

For the year ended 31 March 2024

1. Accounting policies a) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Windmill Hill City Farm Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

b) Group accounts

These financial statements consolidate the results of the charitable company and its whollyowned subsidiary on a line by line basis. Transactions and balances between the charitable company and its subsidiary have been eliminated from the consolidated financial statements. Balances between the two companies are disclosed in the notes of the charitable company's balance sheet. A separate statement of financial activities, or income and expenditure account, for the charitable company itself is not presented because the charitable company has taken advantage of the exemptions afforded by section 408 of the Companies Act 2006.

c) Going concern basis of accounting

The accounts have been prepared on the assumption that the company is able to continue as a going concern. However, geo-political and economic instability and consequent pressure on energy and other costs experienced throughout 2023-24 continues to impact the charity, its staff and people in its community. The trustees have considered the impact of this issue on the charity’s current and future financial position. Much of the charity’s income is traded through activities where the costs can be scaled to the income. Childcare is its biggest operating area, with healthcare a significant part. Both areas benefit from statutory support making them relatively robust to economic changes. The group holds unrestricted, general reserves of £345,065 and a cash balance of £579,914. The trustees consider that the charity has sufficient reserves and cashflow to continue as a going concern for a period of at least 12 months from the date on which these financial statements are approved.

d) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of services being delivered is deferred until criteria for income recognition are met.

Turnover from the sale of goods is recognised when goods are delivered and legal title has passed.

21

Windmill Hill City Farm Limited

Notes to the financial statements

For the year ended 31 March 2024

1. Accounting policies (continued) e) Donated services and facilities

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

For Google AdWords, the charity measures the value of the gift at 50% of the market value provided by Google. Where the market value is given in foreign currency, this is translated in line with the charity's foreign exchange policy (note 1r).

f) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank.

g) Funds accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.

h) Expenditure and irrecoverable VAT

Expenditure is accounted for on an accruals basis and have been classified under headings that aggregate all costs related to that activity. Expenditure includes attributable VAT which cannot be recovered. Where costs cannot be directly attributed they have been allocated to activities on a basis consistent with the use of the resource.

Direct costs, including directly attributable salaries, are allocated on an actual basis to the activities.

22

Windmill Hill City Farm Limited

Notes to the financial statements

For the year ended 31 March 2024

1. Accounting policies (continued)

i) Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs include the cost of governance arrangements which relate to the general running of the charity. These costs are associated with constitutional and statutory requirements and include costs associated with the strategic management of the charity’s activities. These costs have been allocated between charitable activities on the following basis which is an estimate, based on staff time, of the amount attributable to each activity:

vity:
2024 2023
Raising funds: other fundraising activities 3.3% 2.5%
Charitable activities
Children, young people & family services 21.4% 18.3%
Community involvement 60.7% 64.4%
Farming activities 14.6% 14.8%

j) Tangible fixed assets

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Leasehold property 3.3% straight line Equipment, furniture and fittings Between 10% and 20% straight line

Items of equipment are capitalised where the purchase price exceeds £5,000.

k) Investments

The charitable company has an investment in a joint venture, Hartcliffe City Farm C.I.C. (registered company number 13497886). The principal activities of the joint venture are given in note 14 to the accounts. The investment in Hartcliffe City Farm C.I.C. is valued at cost less any cumulative impairment losses and accounted for using the equity method in the group and parent charitable company's accounts.

l) Stock

Stock is included at the lower of cost or net realisable value.

m) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

n) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

23

Windmill Hill City Farm Limited

Notes to the financial statements

For the year ended 31 March 2024

1. Accounting policies (continued)

o) Creditors

Creditors and provisions are recognised where there is a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

p) Financial instruments

The charitable company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

q) Pension costs

The company operates a defined contribution pension scheme for its employees. There are no further liabilities other than that already recognised in the statement of financial activities.

r) Foreign currency transactions

Transactions in foreign currencies are translated at rates prevailing at the date of the transaction. Balances denominated in foreign currencies are translated at the rate of exchange prevailing at the year end.

s) Accounting estimates and key judgements

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are the depreciation rates as described above.

t) Operating leases

Rentals payable under operating leases are charged on a straight-line basis over the lease term.

24

Windmill Hill City Farm Limited

Notes to the financial statements

For the year ended 31 March 2024

2. Prior period comparatives: statement of financial activities

Income from:
Donations
Charitable activities
Other trading activities
Investments
Total income
Expenditure on:
Raising funds
Running subsidiary
Other fundraising activities
Charitable activities
Total expenditure
Net income / (expenditure)
Transfers
Net movement in funds
3.
Income from donations
Donations
Gifts in kind (Google AdWords and app development)
Grants (note 4)
Total income from donations
Prior period comparative:
Donations
Gifts in kind (Google AdWords)
Grants (note 4)
Total income from donations		 Restricted
£
£
358,351
129,334
75,501
1,192,902
-
680,426
-
5,300
433,852
2,007,962
-
470,940
-
77,928
421,292
1,517,211
421,292
2,066,079
12,560
(58,117)
48,475
(48,475)
61,035
(106,592)
Restricted
£
£
25,942
35,204
-
51,862
256,844
28,853
282,786
115,919
Restricted
£
£
-
63,882
-
37,252
358,351
28,200
358,351
129,334
Unrestricted
Unrestricted
Unrestricted		 2023
Total
£
487,685
1,268,403
680,426
5,300
2,441,814
470,940
77,928
1,938,503
2,487,371
(45,557)
-
(45,557)
2024
Total
£
61,146
51,862
285,697
398,705
2023
Total
£
63,882
37,252
386,551
487,685

25

Windmill Hill City Farm Limited

Notes to the financial statements

For the year ended 31 March 2024

4. Grants receivable

The Underwood Trust
Henry Smith
National Lottery
Foundation for Children
Veolia
The Big Give
Sirona Foundation
Football Foundation
Nisbets Trust
Middlesex University
BBC Children In Need
Bristol City Council
Bristol Green Capital Partnership
Westport
Quartet
Nineveh Trust
The 29th May 1961
Knowle West Health
Power to Change
Avon Wildlife Trust
Realise Learning and Employment
Souter
Tesco Groundworks
Centre for Sustainability
DWP
Bristol Pride		 2024
Restricted
Total
£
£
£
25,000
25,000
50,000
46,000
-
46,000
19,635
-
19,635
18,800
-
18,800
18,129
-
18,129
17,771
-
17,771
15,518
-
15,518
13,461
-
13,461
11,000
-
11,000
10,000
-
10,000
9,712
-
9,712
6,650
-
6,650
6,250
-
6,250
6,200
-
6,200
5,593
-
5,593
5,000
-
5,000
5,000
-
5,000
4,000
-
4,000
4,000
-
4,000
3,125
-
3,125
-
3,000
3,000
3,000
-
3,000
1,500
-
1,500
1,000
-
1,000
-
853
853
500
-
500
256,844
28,853
285,697
Unrestricted

26

Windmill Hill City Farm Limited

Notes to the financial statements

For the year ended 31 March 2024

4. Grants receivable (continued) Prior period comparative

Prior period comparative
National Lottery
The Underwood Trust
West of England Combined Authority
Henry Smith
Foundation for Children
Clothworkers
Veolia
Bristol City Council
Quartet
Power to Change
BBC Children in Need
Nisbets Trust
John James Foundation
Nineveh Trust
Aspiration Training Ltd
Co-op Foundation
Other grants
5.
Income from charitable activities
Children, young people & family services
Community involvement
Farming activities
Total income from charitable activities
Prior period comparative:
Children, young people & family services
Community involvement
Farming activities
Total income from charitable activities		 Restricted
£
£
50,358
-
25,000
25,000
49,065
-
45,000
-
37,600
-
37,000
-
33,667
-
16,748
-
14,220
-
14,000
-
9,587
500
10,000
-
9,500
-
5,000
-
-
2,000
1,606
-
-
700
358,351
28,200
Restricted
£
£
-
950,623
95,899
162,545
-
1,990
95,899
1,115,158
Restricted
£
£
-
1,032,725
75,501
157,599
-
2,578
75,501
1,192,902
Unrestricted
Unrestricted
Unrestricted		 2023
Total
£
50,358
50,000
49,065
45,000
37,600
37,000
33,667
16,748
14,220
14,000
10,087
10,000
9,500
5,000
2,000
1,606
700
386,551
2024
Total
£
950,623
258,444
1,990
1,211,057
2023
Total
£
1,032,725
233,100
2,578
1,268,403

27

Windmill Hill City Farm Limited

Notes to the financial statements

For the year ended 31 March 2024

6. Income from other trading activities

Fundraising income
Café income and other income of trading subsidiary
Total income from other trading activities
Prior period comparative:
Fundraising income
Café income and other income of trading subsidiary
Total income from other trading activities
7.
Income from investments
Investment in joint venture
Bank interest
Total income from investments		 Restricted
£
£
-
59,138
-
651,378
-
710,516
Restricted
£
£
-
75,250
-
605,176
-
680,426
2024
£
-
5,880
5,880
Unrestricted
Unrestricted		 2024
Total
£
59,138
651,378
710,516
2023
Total
£
75,250
605,176
680,426
2023
£
2,785
2,515
5,300

8. Government grants

The charitable company receives government grants, defined as funding from Bristol City Council, DWP, HMRC, and National Lottery to fund charitable activities. The total value of such grants in the period ending 31 March 2024 was £414,036 (2023: £490,829). There are no unfulfilled conditions or contingencies attaching to these grants in the current or prior year.

28

Windmill Hill City Farm Limited

Notes to the financial statements

For the year ended 31 March 2024

9. Total expenditure

Total expenditure
Staff costs (note 11)
Other direct costs
Support and governance costs
Premises
Communications and IT
Office costs
Bank charges and interest
Professional fees
Other
Governance
Depreciation of fixed assets
Total expenditure		 Cost of
running
subsidiary
£
275,680
170,659
-
-
-
-
-
-
-
-
446,339		 Other
fundraising
activities
£
51,089
30,364
771
485
438
65
249
1,589
256
3,158
88,464		 Community
involvement
£
323,145
113,514
4,878
3,068
2,772
411
1,574
10,050
1,619
19,973
481,004		 Children,
young people
and family
services
£
917,492
85,573
13,850
8,711
7,872
1,167
4,468
28,535
4,596
56,708
1,128,972		 Farming
activities
£
220,142
150,908
3,324
2,091
1,889
279
1,072
6,847
1,102
13,606
401,260		 2024 Total
£
1,787,548
551,018
22,823
14,355
12,971
1,922
7,363
47,021
7,573
93,445
2,546,039

29

Windmill Hill City Farm Limited

Notes to the financial statements

For the year ended 31 March 2024

9. Total expenditure (continued)

Prior period comparative
Staff costs (note 11)
Other direct costs
Support and governance costs
Premises
Communications and IT
Office costs
Bank charges and interest
Professional fees
Other
Governance
Depreciation of fixed assets
Total expenditure		 Cost of
running
subsidiary
£
297,721
173,219
-
-
-
-
-
-
-
-
470,940		 Other
fundraising
activities
£
34,961
37,252
425
348
785
62
232
1,361
169
2,333
77,928		 Community
involvement
£
249,270
161,169
3,027
2,478
5,595
441
1,657
9,702
1,204
16,634
451,177		 Children,
young people
and family
services
£
878,855
105,093
10,674
8,737
19,725
1,554
5,841
34,205
4,245
58,649
1,127,578		 Farming
activities
£
201,525
125,288
2,448
2,003
4,523
356
1,340
7,844
973
13,448
359,748		 2023 Total
£
1,662,332
602,021
16,574
13,566
30,628
2,413
9,070
53,112
6,591
91,064
2,487,371

30

Windmill Hill City Farm Limited

Notes to the financial statements

For the year ended 31 March 2024

10. Net movement in funds

This is stated after charging:

Depreciation
Operating lease payments
Trustees' remuneration
Trustees' reimbursed expenses
Auditors' remuneration:
Statutory audit
Other services		 2024
£
93,445
628
Nil
Nil
6,750
4,912		 2023
£
91,064
1,630
Nil
Nil
6,100
4,444

11. Staff costs and numbers

Staff costs were as follows:

Salaries and wages
Social security costs
Pension costs
Agency staff costs		 2024
2023
£
£
1,624,324
1,489,003
96,464
86,581
28,341
22,155
1,749,129
1,597,739
38,419
64,593
1,787,548
1,662,332

No employee earned more than £60,000 during the current and prior year.

The key management personnel of the charitable company comprise the Trustees, Chief Executive and Senior Management Team. The total employee benefits of the key management personnel were £324,873 (2023: £321,758).

During the year, no redundancy payments were made (2023: £691 was paid to one employee). No amounts were outstanding at year end.

Average number of employees (headcount)
Number of charity staff
Number of trading staff		 2024
2023
No.
No.
102
93
27
24
129
117

31

Windmill Hill City Farm Limited

Notes to the financial statements

For the year ended 31 March 2024

12. Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. The charity's trading subsidiary, Windmill Hill Farm Community Enterprises Limited, donates its available profits to the parent charity.

13. Tangible fixed assets

Group and charity
Cost
At 1 April 2023
Additions in year
At 31 March 2024
Depreciation
At 1 April 2023
Charge for the year
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023
14.
Investments
Investments in joint venture		 Leasehold
property
£
2,520,378
14,292
2,534,670
1,472,569
83,578
1,556,147
978,523
1,047,809		 Furniture &
equipment
£
107,151
8,340
115,491
75,452
9,867
85,319
30,172
31,699
2024
£
2,785		 Total
£
2,627,529
22,632
2,650,161
1,548,021
93,445
1,641,466
1,008,695
1,079,508
2023
£
2,785

Details of undertakings

The charity holds a 50% shareholding in Hartcliffe City Farm CIC (company no. 13497886).

The principal activity of Hartcliffe City Farm CIC is to provide a community city farm and gardens that advances the lives of all people in the neighbourhoods in and around Hartcliffe, Bristol, through the provision of services and facilities for work, education and recreation.

32

Windmill Hill City Farm Limited

Notes to the financial statements

For the year ended 31 March 2024

15. Subsidiary undertakings

Windmill Hill Farm Community Enterprises Limited

A summary of the trading company’s profit and loss account is shown below and reflects both external and intercompany sales and purchases.

2024 2023
£ £
Turnover 655,991 609,820
Cost of sales (147,298) (141,689)
Gross profit 508,693 468,131
Administrative expenses (307,419) (337,367)
Operating profit 201,274 130,764
Tax on profit on ordinary activities - -
Profit for the financial year after taxation 201,274 130,764
The aggregate of the assets, liabilities and funds was:
2024 2023
£ £
Assets 169,309 352,544
Liabilities (169,296) (352,531)
Net assets 13 13

16. Parent charity

The parent charity's gross income and the results for the year are disclosed as follows:

Gross income
Surplus / (deficit) for the year		 2024
£
1,884,432
(219,881)		 2023
£
1,975,517
(45,557)

33

Windmill Hill City Farm Limited

Notes to the financial statements

For the year ended 31 March 2024

17. Stock

Stocks for resale
Debtors
Trade debtors
Prepayments
Accrued income
Other debtors
Owed from subsidiary undertaking		 2024
2023
£
£
9,225
9,416
2024
2023
£
£
53,337
18,002
18,150
10,937
19,630
6,909
4,186
1,590
-
-
95,303
37,438
The group
The group		 2024
2023
£
£
904
904
2024
2023
£
£
43,422
11,907
18,150
10,937
19,630
6,193
-
1,590
132,692
315,960
213,894
346,587
The charity
The charity

18. Debtors

19. Creditors : amounts due within 1 year

Trade creditors
Accruals
Other taxation and social security
Other creditors
Deferred income (see note 20)
Deferred income
At 1 April 2023
Deferred during the year
Released during the year
At 31 March 2024		 2024
2023
£
£
33,519
46,746
52,123
37,521
47,297
42,840
108,742
104,452
24,675
21,834
266,356
253,393
2024
2023
£
£
21,834
42,458
24,675
21,834
(21,834)
(42,458)
24,675
21,834
The group
The group		 2024
2023
£
£
24,749
34,592
41,748
28,707
44,380
39,961
94,883
91,928
23,992
21,634
229,752
216,822
2024
2023
£
£
21,634
41,530
23,992
21,634
(21,634)
(41,530)
23,992
21,634
The charity
The charity		 2024
2023
£
£
24,749
34,592
41,748
28,707
44,380
39,961
94,883
91,928
23,992
21,634
229,752
216,822
2024
2023
£
£
21,634
41,530
23,992
21,634
(21,634)
(41,530)
23,992
21,634
The charity
The charity
21,634

20. Deferred income

Deferred income relates to income received in advance for contracts relating to the provision of Increasing Access to Psychological Therapies services, school visits and corporate volunteering days.

34

Windmill Hill City Farm Limited

Notes to the financial statements

For the year ended 31 March 2024

21. Analysis of group net assets between funds

Analysis of group net assets between funds
Tangible fixed assets
Investment in joint venture
Current assets
Current liabilities
Net assets at 31 March 2024
Prior year comparative
Tangible fixed assets
Investment in joint venture
Current assets
Current liabilities
Net assets at 31 March 2023		 £
£
978,523
30,172
-
2,785
105,978
578,464
-
(266,356)
1,084,501
345,065
£
£
1,047,809
31,699
-
2,785
79,774
740,773
-
(253,393)
1,127,583
521,864
Restricted
funds
Unrestricted
funds
Restricted
funds
Unrestricted
funds		 Total
funds
£
1,008,695
2,785
684,442
(266,356)
1,429,566
Total
funds
£
1,079,508
2,785
820,547
(253,393)
1,649,447

35

Windmill Hill City Farm Limited

Notes to the financial statements

For the year ended 31 March 2024

22. Movements in funds

Restricted funds
Capital funds
Other funds
BCC Bristol Short Breaks
Bristol Early Years
Bristol Impact Fund 2
Children in Need Nurture Groups
CIL - Mural
Climate Action Project
Community Asset Manifesto
Football Foundation
Foundation for Children
Nineveh Trust
Nisbet Trust
NL Platinum Jubilee
Positive Activities
Sirona
Supper Club
The Big Give
The Henry Smith Charity
The Underwood Trust HCF
Theatre project grant funding
Other restricted projects
Total restricted funds
General funds
Total charity funds
Non-charitable trading funds
Total unrestricted funds
Total funds
Social Enterprise Food
System (SEFS)
NL One World Garden
Growing & Cooking
Unrestricted funds		 At 1 April
2023
£
1,047,809
6,928
150
5,711
624
-
-
-
-
12,562
-
-
1,927
-
-
-
-
-
-
17,912
9,216
12,743
12,001
1,127,583
521,851
1,649,434
13
521,864
1,649,447		 Income
£
-
9,590
-
78,077
9,712
6,650
6,250
25,000
13,461
18,800
5,000
11,000
-
19,635
6,200
15,518
10,000
9,993
8,720
46,000
25,000
18,129
35,950
378,685
1,296,095
1,674,780
651,378
1,947,473
2,326,158		 £
(83,578)
(6,929)
(150)
(68,577)
(10,144)
(2,200)
(4,500)
(15,537)
(18,083)
(31,362)
(2,083)
(6,417)
(1,927)
(19,635)
(5,150)
(2,336)
(10,000)
(3,405)
(7,720)
(46,741)
(23,894)
(13,730)
(39,660)
(423,758)
(1,470,903)
(1,894,661)
(651,378)
(2,122,281)
(2,546,039)
Expenditure		 Transfers
between
funds
£
£
14,292
978,523
-
9,589
-
-
219
15,430
-
192
-
4,450
-
1,750
-
9,463
4,622
-
-
-
-
2,917
-
4,583
-
-
-
-
-
1,050
-
13,182
-
-
-
6,588
-
1,000
-
17,171
-
10,322
(17,142)
-
-
8,291
1,991
1,084,501
(1,991)
345,052
-
1,429,553
-
13
(1,991)
345,065
-
1,429,566
At 31 March
2024		 Transfers
between
funds
£
£
14,292
978,523
-
9,589
-
-
219
15,430
-
192
-
4,450
-
1,750
-
9,463
4,622
-
-
-
-
2,917
-
4,583
-
-
-
-
-
1,050
-
13,182
-
-
-
6,588
-
1,000
-
17,171
-
10,322
(17,142)
-
-
8,291
1,991
1,084,501
(1,991)
345,052
-
1,429,553
-
13
(1,991)
345,065
-
1,429,566
At 31 March
2024
1,084,501
345,052
1,429,553
13
345,065
1,429,566

36

Windmill Hill City Farm Limited

Notes to the financial statements

For the year ended 31 March 2024

22. Movements in funds (continued)

Purposes of restricted funds

Capital funds represent (i) the leasehold property and improvements which are restricted on the basis that the underlying assets could not be sold by the charity; (ii) the Nursery Expansion to provide additional nursery spaces; (iii) the Visitors Centre which was the redevelopment of an information area, reception, exhibition space and visitors centre; (iv) The log cabin for the outdoor classroom; (v) the café redevelopment and interaction centre; and (vi) the Outdoor Theatre. They have a value in use for the charity but no re-sale value.

BCC Bristol Short Breaks funds activities and support sessions targeted at children ages 8-12 with learning difficulties.

Bristol Early Years funding provided training materials for the nursery.

Bristol Impact Fund 2 is a project to create the infrastructure for a rejuvenated community hub in Hartcliffe that will inspire and connect local people, enable them to develop their own way to tackle the inequality they face, and create a confident community organisation, playing an active role in the city.

Children in Need nurture groups is a project focusing on the development of confidence and social skills in children facing hardship.

CIL - Mural is funding for a mural on the wall of Mail Marketing offices and accent to Malago Greenway.

Climate Action Project is funding from Bristol Green Capital Partnership - Learning and Mentoring Programme for participating organisations who wish to build climate confidence and capacity to develop community insights and leadership on climate and nature within Bristol.

Community Asset Manifesto is funding for promoting the work of Bristol Community Organisations.

Football Foundation funded football pitch improvements.

Foundation for Children supports a project to create infrastructure to enable school activities at Hartcliffe City Farm.

Nineveh Charitable Trust supported educational activities in the farm and gardens.

Nisbet Trust supported education activities in the farm and gardens.

NL One World Garden Growing & Cooking Together 2022 funding provided weekly growing and cooking sessions specifically for families from BAME community that live in nearby flats with limited outdoor spaces.

NL Platinum Jubilee funding supported a project to kickstart health and wellbeing activity for the local community.

Positive Activities funding would provide unique sessions based on a city farm, with access to fresh produce, animals and cooking, whilst the green space provides a sense of calm and well-being.

37

Windmill Hill City Farm Limited

Notes to the financial statements

For the year ended 31 March 2024

22. Movements in funds (continued)

Purposes of restricted funds (continued)

Sirona funds Wellbeing Wednesdays Project at Hartcliffe City Farm.

Social Enterprise Food System (SEFS) is funding to participate in a research project on how food provision that is inclusive, healthy and environmentally sustainable is being supported by social enterprises.

Supper Club represents funding for a weekly Supper Club to provide a safe, warm and welcoming indoor space for local parents and their young children to use from 5.30-8.30pm during the colder, winter months.

The Big Give funding received was for the supper club.

The Henry Smith Charity funding helped to deliver our ‘supported volunteer programme’ – an ongoing core programme that accepts up to 100 people a year who are close to, or recovering from, mental health crisis.

The Underwood Trust funding supported the development of Hartcliffe City Farm.

Theatre project grant funding is the upsent funds for the outdoor theatre that is currently under construction.

Other restricted projects consists of various smaller restricted projects for funding under £10,000 which includes funding from Children In Need, The Big Give, Nisbets and others.

Transfers between funds

Transfers between funds represent the movement of capitalised restricted expenditure from the Theatre project grant restricted fund to the restricted capital funds and the transfer of unrestricted income to top up restricted projects where needed.

38

Windmill Hill City Farm Limited

Notes to the financial statements

For the year ended 31 March 2024

22. Movements in funds (continued)

Prior year comparative
Restricted funds
Capital funds
Other funds
Baily Thomas
BCC Bristol Short Breaks
Bristol Early Years
Bristol Impact Fund 2
Children in Need Nurture Groups
Clothworkers
Foundation for Children
Lets Create Jubilee
Little Roots
Nineveh Trust
Nisbet Trust
NL Platinum Jubilee
PTC Resilient Community Fund
The Henry Smith Charity
The Underwood Trust HCF
Theatre project grant funding
WECA Community Support Fund
Other restricted projects
Total restricted funds
General funds
Total charity funds
Non-charitable trading funds
Total unrestricted funds
Total funds
NL One World Garden
Growing & Cooking
Unrestricted funds		 At 1 April
2022
£
1,051,123
4,000
-
150
373
-
-
7,471
-
3,431
-
-
-
-
-
-
-
-
-
-
1,066,548
628,443
1,694,991
13
628,456
1,695,004		 Income
£
-
-
8,973
-
58,855
9,587
37,000
37,600
9,993
-
5,000
10,000
10,000
30,365
10,000
45,000
25,000
43,167
49,065
44,247
433,852
1,398,142
1,831,994
609,820
2,007,962
2,441,814		 £
(82,213)
(4,000)
(2,045)
-
(53,517)
(8,963)
(37,000)
(32,509)
(9,993)
(3,431)
(5,000)
(10,000)
(8,073)
(30,365)
(10,000)
(27,088)
(15,784)
-
(49,065)
(32,246)
(421,292)
(1,456,259)
(1,877,551)
(609,820)
(2,066,079)
(2,487,371)
Expenditure		 Transfers
between
funds
£
78,899
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(30,424)
-
-
48,475
(48,475)
-
-
(48,475)
-		 At 1 April
2023
£
1,047,809
-
6,928
150
5,711
624
-
12,562
-
-
-
-
1,927
-
-
17,912
9,216
12,743
-
12,001
1,127,583
521,851
1,649,434
13
521,864
1,649,447

39

Windmill Hill City Farm Limited

Notes to the financial statements

For the year ended 31 March 2024

23. Operating lease commitments

The group and charity had operating leases at the year end with total future minimum lease payments as follows:

The group and the charity
Amount falling due:
Within 1 year
Within 1 - 5 years
Payable after 5 years		 2024
2023
£
£
126
126
504
504
2,774
2,900
3,404
3,530
Land and buildings		 2024
2023
£
£
502
1,504
4,051
752
-
-
4,553
2,256
Equipment		 2024
2023
£
£
502
1,504
4,051
752
-
-
4,553
2,256
Equipment
2,256

24. Related party transactions

Windmill Hill Farm Community Enterprises Limited, a company limited by guarantee, forms the trading arm for the charity. Two of the charity’s trustees, and the Chief Executive serve on the board of directors of the trading company. During the year the charity provided goods and services to the trading company amounting to £2,378 (2023: £2,115) and recharged overheads of £6,000 (2023: £6,000). In addition, the charity received goods and services totalling £4,614 (2023: £4,644) from the trading company during the year and the trading company made a gift aid payment to the charity of £201,274 (2023: £130,764). At the balance sheet date the trading company owed Windmill Hill City Farm Limited £132,692 (2023: £315,960).

Stephen Sayers, Chief Executive, is also a Trustee of Locality (company number: 2787912). During the year, the charity purchased membership from Locality for £250 (2023: £250). No amounts were outstanding at year end.

During the year, the charity group provided goods and services to the charity's joint venture, Hartcliffe City Farm CIC, amounting to £37,559 (2023: £39,219), of which £7,672 (2023: £5,472) was outstanding at year end. In addition, the charity received goods and services totalling £9,473 (2023: £10,444), of which £1,754 (2023: £1,566) was outstanding at year end.

40