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2024-03-31-accounts

Vauxhall (City) Farm Limited (A company limited by guarantee no. 01524041. Registered charity no. 281512)

Registered company number: 1524041 Charity number: 281512

VAUXHALL (CITY) FARM LIMITED (company limited by guarantee)

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDING 31 MARCH 2024

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CONTENTS

Legal and administrative information 3
Trustee’s Annual Report 2023-24 4-15
Trustees’ Responsibilities Statement
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Independent Auditor’s Report 17-19
Statement of Financial Activities 20
Balance Sheet 21
Statement of Cashflows 22
Notes to the Financial Statements 23-43

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LEGAL AND ADMINISTRATIVE INFORMATION

For the year ending 31 March 2024

Board of Trustees

Faith Boardman (Chair) Resigned 25th May 2024 Alison Ewen (Deputy Chair) Stuart Peel (Treasurer) Amilia Rappak, (Company Secretary) Nigel Hood Alison Mohammed Andrew Sheils Aseem Sheikh Glen Walker (Chair from 25th May 2024) Nigel Campbell Samantha Norman Resigned 29th April 2023 Sean Elis Isla Wrathmell - appointed 28th September 2023

Chief Executive Officer Monica Tyler Finance Manager Stanford Manduna Company Registration number 1524041 Charity Registration number 281512 Registered Office 165 Tyers Street London SE11 5HS Bankers NatWest Bank 504 Brixton Road London SW9 8EN The Charity Bank 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ

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TRUSTEES’ ANNUAL REPORT

The Trustees, who act as Directors of the charity for the purposes of the Companies Act and Trustees for charity law purposes, submit their annual report and financial statements for Vauxhall (City) Farm Limited (“The Farm”) for the year ended 31 March 2024. The Trustees confirm that the annual report and financial statements of the charity comply with the Charities Act 2011, the Companies Act 2006, the Articles of Association, and Accounting and reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Farm is a registered charity (281512) and company limited by guarantee (01524041). Our original governing documents consisted of a Memorandum and Articles of Association which incorporated the organization on 23 October 1980 and registered as a charity on 5 January 1981. In the event of the company being wound up, members are required to contribute, if under 18, an amount not exceeding 50p and over 18, not exceeding one pound.

The Charity is managed by Trustees (Directors of the Company) who form the Management Committee. Trustees and the CEO provide annual reports on the finances, services and strategic objectives of the Farm to the Members of the Farm, at the Annual General Meeting - which is where their appointments are confirmed/elected annually, by the 'Members' of the Farm.

The Management Committee meets at least 5 times during the year which is preceded by the Finance and General Purposes which focusses on maximizing the use of the facilities for public benefit and oversight of our financial performance and sustainability. In addition, the Farm regularly accesses veterinary and health and safety expertise and can call on volunteers for specialist advice and support. This has been the approach with our Riding Committee throughout the year. However, with the temporary closure of the Riding School for refurbishment works in March 2024, the Riding Committee has come to an end. Day-to-day responsibility for ensuring the charity delivers on its aims and objectives is delegated to the Chief Executive.

The Management Committee agrees Policies and Procedures for the running of the Farm and can access copies on-line for their own information and reference.

Recruitment and Appointment of Directors

The Directors of the Company are also Charity Trustees for the purpose of charity law, and under the company's articles are known as Members of the Management Committee. Under the requirements of the Memorandum and Articles of Association the Members of the Management Committee are elected for a period of one year, after which they must be re-elected at the Annual General Meeting.

Trustees periodically review the skill needs in terms of turnover and future plans in the light of both turnover and future plans. New Trustees are recruited to meet clear skills specifications, in the light of the forecast needs and risks. Trustee roles are usually advertised, and all applicants are first vetted, interviewed and assessed by the Trustees and the CEO, before being initially co-opted to the Management Committee as a

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Trustee. In the year, Isla Wrathmell was appointed as a new Trustee – who is also a local resident and Lambeth Councillor – bringing her knowledge and connections of the community and strengthening our relationship with the local council.

Induction and Training

New members of the Management Committee are given an induction that includes familiarization with the Charity's mission statement, aims and objectives, organisational structure, policies and Trustees' responsibilities. Further training is also available where required or desired and Trustees are also encouraged to actively participate in volunteering and fund-raising activities to ensure they gain a good practical understanding of risks and benefits.

An annual Planning Day is held to enable the Management Committee and staff to discuss key strategic issues and risks in depth. All Trustees are expected to be familiar with the workings of the Farm with some regularly volunteering in our everyday activities and events.

The formal induction process for all individual new Trustees involves the Company Secretary, CEO, and the Chair of the Management Committee briefing new Trustees on the following:

Our Team

We extended our team in the year to include a new Events and Marketing Manager to support our community engagement and income generation efforts as a Marketing and Administrative Assistant role to assist with our profile-raising work. During the year the team, together with the Chair held a staff team day to review current activities, ideas for the future as well as ways to develop our teamworking. The outcome of the day will feed into the planning in the coming year for our new strategic plan.

Charitable Objectives

Vauxhall City Farm occupies a site that dates from wartime bombing which left an area that was partially cleared initially by local people who wanted to supplement rations by growing food. Its formal life began as Jubilee City Farm in 1977 on two thirds of an acre of derelict land. The site was planned by local people and the Farm continues to welcome, and to significantly rely on, volunteers and donations.

The needs remain high in the area the Farm services – covering 6 inner-London boroughs with:

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Our charitable objectives remain focused on providing educational, recreational and therapeutic activities using the setting of the Farm which remains free to enter and has become a thriving community project that also provides a green oasis for people of all ages and backgrounds living and working in an area in the heart of inner-city London. A range of highly professional and specialist support programmes has been provided for those with additional and special needs – including supporting the curriculum needs of schools locally.

The Farm has brought added value to meeting local needs through its partnership work , voluntary support from corporates and residents, and financial contributions.

Public Benefit

The activities as detailed below have all been undertaken to further the charity's purposes for the public benefit, and the charity's Trustees have complied with their duty as described in the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission.

The Farm regularly consults, (and actively seeks feedback and suggestions from) visitors, partners, volunteers and service users.

The Farm serves the community, family, educational, skills-development, and social cohesion needs of an area that covers 6 inner-London Boroughs. Visitors include many families, children, and adults from highly diverse backgrounds (in terms of ethnicity; social/private/rented housing and economic standing; employment status; age; physical/mental health & disabilities; & religion).

Our free entry, and the fact that several of the services are free and/or significantly subsidized by charitable and corporate social responsibility grants, is considered by the Trustees to be the Farm’s main contribution to public benefit .

Our Vision

‘We are a farm for London’

Our vision is a city where people from all communities are empowered to experience nature to enhance their health, wellbeing and life chances.

Mission

Our mission , therefore, is to use the setting of an urban farm to provide educational, recreational and therapeutic activities that:

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Compared with other city farms, Vauxhall City Farm has an exceptional range of animals, horses, birds, pond-life, ecological habitats, insects, herbs, dye and medicinal plants, vegetables, trees, fruit bushes. There is also a riding arena; modern and well-equipped meeting/classroom space; a farm office and volunteer room; a visitor and family-friendly cafe; and modern event/ “corporate away-day” facilities etc. The Farm is formally recognized as a rare inner-city site of “exceptional ecological diversity”.

Values

We value and nurture the contribution of all those we work with, from our Respect farm animals and the environment to our staff, volunteers, partners and beneficiaries. Collaboration We believe consultation, co-production, partnership and teamwork are essential ingredients for sustainable change. Transformation We take an innovative and resourceful approach to our work which means we are always learning and pushing ourselves to do better. Creativity We strive to inspire change that will achieve powerful social, environmental and wellbeing outcomes for communities and people. Inclusivity We value diversity in everything we do and work hard to ensure different viewpoints are given an equal voice through our projects. Professionalism We are a responsible and efficient organisation with a working culture rooted in sound management business practice and governance.

MAIN ACHIEVEMENTS AND PERFORMANCE

The past year has been a whirlwind of change at our urban Farm. We have made significant progress on our infrastructure, developed engaging new educational programmes and launched a vibrant calendar of community events and enhanced our café and hospitality offers. These initiatives have drawn a wider audience to the Farm, allowing more people to benefit from our activities and resources.

Whilst exciting, this has not been without its challenges. The ongoing cost of living crisis and fundraising challenges faced by the wider charity sector have presented difficulties in attracting charitable funds and retaining talented staff. However, as Trustees, and with our staff and volunteer teams, we remain dedicated to our mission. Below we outline the Farm’s progress over the past year against each of our strategic objectives.

Strategic Objective 1: A diverse and vibrant urban farm of excellence

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We continued to welcome significant numbers of visitors to the Farm – close to 60,000 who benefited from the free environmental and educational resources the Farm offers as well as its therapeutic benefits. In addition to community members, we again were pleased to welcome celebrities including Nick Moore, Lucien Laviscount, Jenny Eclair, John Whaite as well as two influencers. For the third year in a row the BBC have continued their relationship with the Farm, using our site to present their weather forecast. We remain open to the public and free to enter , from Tuesday to Sunday each week.

Development of the Farm (phase 2)

Over the past two years we have implemented a major transformation of our Farm with the completion of our new Farm entrance, new animal enclosures and improvements to the farmyard area. As we end the year (March 2024) final work on improving the area around the new entrance has started, creating more space for the community to come together and a clear destination for visitors seeking light refreshments in our daytime café and evening bar. Our gratitude is extended to our Trustees for their oversight, input and guidance and for the funder partners who have supported us in the past year with this unique project: the Clothworkers Foundation, Southwestern Trains Community Fund, CLSH Management Ltd and the Berkeley Foundation, as well as the many corporate and community volunteers.

Community and Ecological Gardens

Our Community Gardener, appointed in the previous year, has made our community garden into an environmental and therapeutic oasis, creating a good foundation for the delivery or our increased educational and environmental workshops and programmes. Our ecology garden is a registered SINC (Site of Importance for Nature Conservation) and continues to be a valuable addition to the facilities and activities offered through our educational work. During the year we offered new and regular workshops and activities such as:

Extended Educational and Wellbeing Programmes

Our holiday provision over the Summer and a half-term environmental club welcomed 41 young people from Lambeth and surrounding boroughs who receive free-school meals with 37% recording as having additional needs. In addition, we ran a series of Spring-themed Conservation Clubs for 102 young people and their families to learn about our natural environment and the human impact; over 70% were from our Black and other minoritized community – highlighting our reach to the range of people who make up the communities we serve. This is particularly important given the impact environmental injustice and the costof-living crisis that has disproportionally impacted Black and other minoritized families.

We also designed a new and exciting environmental programme - City Sprouts – running over 6 weeks to

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support the wellbeing of secondary school aged students and supported by Sir Walter St John Charity and our Camp Green Horizons’ project (empowering young people through climate action) both of which demonstrated positive outcomes with participants adopting sustainable behaviours in their daily lives and increasing their knowledge of sustainability and climate change.

Earlier in the year we reviewed our after-school provision which was relaunched towards the end of the year with 11 children in need of social and academic support enrolled over six weeks. During this time the socially and culturally diverse group of children achieved significant gains in their academic scores – increasing by an average of 44% with over half the group scoring above the average age expected level.

A total of 50 workshops were delivered to schools and groups as well as welcoming 63 groups to the Farm for Self-Guided tours, collectively engaging 2,869 people in our workshops on wellbeing, biodiversity, gardening and food growing activities using our outdoor classroom and large greenhouse learning space.

We remain indebted to our valued funder partners who have enabled us to achieve so much in our educational and environmental work in the year: Maria Mariner and the Walcot Foundation towards and our educational and afterschool activities; Jack Petchey Foundation Internship Programme (for funding our Education Officer Intern for a year); Nineveh Trust (towards our Gardener and environmental activities and City Bridge Foundation and Sir Walter St John Foundation for our work with school and community groups on environmental sustainability and food growing.

“He came home each day really looking forward to the next day. It has been a very special experience. Living in a very small flat and not being able to have pets it has been lovely for him to experience animals" .

Mother of Summer Camp child ” " Amazing. Kids enjoyed it so much. It is really nice to increase kids’ awareness about the environment ". Conservation Club Attendee

Employability Programmes

The Farm remains a haven for young people to explore and participate in activities to support the development of their life, social and work skills, particularly for those who find it difficult to access opportunities that are not holistic or person-centred in their approach.

Our 8-week, flagship employability programme – New Shoots - offered a series of workshops to support the wellbeing and development of young people’s skills for work. We were delighted to have launched the revamped New Shoots in the final quarter of the year with funding from the Drapers’ Fund to support 16-25 year olds in building their skills and confidence whilst learning interview techniques and participating in CV writing sessions. Our thanks are extended to several of our corporate volunteers for sharing their expertise with our young people.

Following a period of review, we restarted our Young Farmers’ Club - a 6-week programme with an initial cohort of 12 young people. Due to its popularity, we have consistently held a waiting list of eager participants and looked to reduce this by running concurrent sessions of the programmes. We continued to provide other opportunities through 22 work experience placements and for 15 Duke of Edinburgh participants in

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addition to an international education intern.

Farmyard

Our 110+ animals have kept us busy and continue to offer new experiences for our visitors. In addition we also welcomed a number of new additions including 2 lovebirds, 8 chickens, 1 goat and 2 lambs. Our Meet & Greet sessions remained one of our most popular booking requests with alpacas, guinea pigs and rabbits the top favourites for visitors. We rely heavily on our dedicated team of volunteers, who help with the care of our animals and the running of the farmyard.

In an effort to encourage more young people in volunteering, we organized another Junior Volunteer Day – hosting a youth group that engaged in a carousel of activities across the Farm and community garden with the day culminating in an ‘appreciation’ and certificate award ceremony.

Mobile Farm

Reaching out to communities with our Mobile Farm has been an important means of ensuring that a wider range of people benefit from our resource as this supports their mental and social wellbeing, skills and connection with their community and environment. During the year we delivered 12 mobile farm sessions – whilst fewer than in previous years, some events were larger than usual, requiring more time and staff resource – such as our Dulwich Park Mobile Farm that reached 3,000 adults and 2,000 children. This was our second largest after our annual Lambeth Country Show mobile farm that reached over 100,000 visitors over 2 days and remains our biggest fundraising event of the year. We continued to outreach to smaller groups such as schools or hospitals engaging between 40-80 children/adults at any one time.

Strategic Objective 2: A sustainable riding school for all

We have been proud of our Riding School – which has been the only RDA (Riding for the Disabled) Centre in the London Borough of Lambeth. Following a number of minor repairs to our stables, improved back office support and an increase in the number and care of our horses, we were delighted to have surpassed the targets we had set in our Riding School business plan.

We provided both individual and group sessions, working in partnership with organisations serving vulnerable young people (e.g. Octavia House, Oasis Academy, Jamie’s Farm). reflecting those who often have little or no opportunity to participate in equine activities or to experience the therapeutic and life skills benefits of doing so.

We delivered between 19-22 lessons each week, including community group lessons as well as therapeutic sessions that are of particular benefit to children with special educational needs, non-physical disabilities and/or mental health needs.

Teachers reported that the children/young people had become more focused – supporting their concentration and feeling of confidence as they developed their ability to ride a horse, as well as their ability to engage in stable management activities that positively impacted their physical wellbeing. School Feedback

On average, 5-6 volunteers regularly volunteered each week - usually over the weekend period enabling us to reach more people and offer increased riding lessons.

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To manage the increasing demand, we introduced a new online system, with a dedicated part-time Marketing and Administrative Assistant helping us to streamline our bookings, build relationships with our beneficiaries and better manage expectations and resources.

By the end of the financial year (March 2024) the Trustees took the decision to temporarily pause our Riding School lessons to enable construction works to be implemented. It was felt that completing the works whilst riding lessons were ongoing would have compromised the safety and wellbeing of our riders, horses and staff. It is anticipated that the works will be completed by September 2025.

Our appreciation is extended to our funding partners who have supported the growth of our Riding School, even during challenging times that has enabled us to achieve a positive impact in the wellbeing of children and young people who could most benefit from our Riding School resource. Thank you to: The Loriners’ Charitable Trust, Caring As One Foundation, the Worshipful Company of Tin Plate Workers’ and the Peter Harrison Foundation.

Thanks also go to our Trustees and co-optee on our Riding Committee for their time, expertise and passion overseeing and guiding our Riding School.

Strategic Objective 3: A mission driven caf é

Café

The upgrades to the cafe in the prior year and the new, conveniently located entrance to the Farm in the reporting year has transformed the outdoor and internal café areas into a vibrant community destination. Our Head of Marketing and Events and Head of Hospitality collaborated to deliver a new programme of events and enhanced booking and catering offers. This has attracted more visitors as well as bookings for our rooms/meeting spaces and our new birthday party packages from a range of sources including families, corporates, government departments, charities and charitable funders, educational establishments and community groups.

As planned, we built on the connection between our community garden and food/plant growing activities to offer vegetables, fruit, herbs and plants for sale in our Café and at our Lambeth Country Show mobile farm.

Our Pride Event, held in June and part-funded by Lambeth Council included a mix of workshops, fun activities, artists, music and a stellar BBQ that reflected the ethos of Pride Month and attracted many from our LGBTQ+ community as well as a mix of ages and cultures. This truly inclusive event continued through the night, supporting the night-time economy strategy for the borough.

At the latter end of 2023 we hosted new events including a Spooktacular week-long Halloween event during school half term and we transformed the Farm into a Festive Wonderland in December with a Christmas Market , wreath making workshops, our first ever VCF Winter Light Trail with support from Vauxhall One. We welcomed 272 children to our Christmas grotto (an increase of 80 over last year) with support from City Wire who assisted with decorating the Farm and wrapping presents, and Walker Books who kindly donated books to use as gifts. In January we launched our first Parent and Baby pub-style Quiz attended by 68 parents over 7 quizzes – changing our quiet Tuesday mornings on the Farm and increasing our café sales.

Strategic Objective 4: Strengthening our capacity

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In addition to the many charitable funders providing project-based grant, we were also grateful to those such offering unrestricted and / or long-term grant funding. These types of grants continue to be instrumental to our development and in meeting our strategic objectives. They allow us to adapt to evolving needs, to collaborate with partners (e.g. schools, residents, businesses) and to lever new funds to deliver environmental, educational and wellbeing projects. Our CEO has continued to work with Integrate CIC to support our revenue grant fundraising whilst building relationships with other potential funders and prospective funders. Our thanks to funders such as the Taurus Foundation, City Bridge Foundation, Limbourne Trust, and the Berkeley Charitable Foundation for their continued, long-term support of our Farm.

There is no doubt that we are a small team, but we continue to punch above our weight. To a great extent this is due to our small, yet dedicated staff team and dynamism of our CEO, supported by the Senior Leadership Team. New additions have already made an impact – the promotion of our Head of Hospitality has led to our café and bookings being one of the most financially productive aeras of the Farm. Our newly appointed Head of Marketing and Events has supported the growth of our digital presence with engagement and followings rising across our media platforms that has in turn contributed to a rise in website visits and enquiries for bookings and volunteering.

Volunteering

As with most other charities we struggled to recruit long term volunteers to the Farm, ending the year with 103 volunteers over the year and an average of 35 regular volunteers at any one time who supported our Farmyard team with the daily maintenance of our site and care of our animals and with Riding School tasks. Without their dedication and commitment we would not be able to operate the Farm in a safe way and are immensely grateful for their time and contribution. In return, our volunteers benefited from improved social connections and mental wellbeing as well as learning new skills, with some successfully applying for employment opportunities on the Farm and elsewhere.

Vauxhall City Farm has a Volunteer Policy and all volunteers are subject to the same policies and procedures as the paid staff. The volunteers undergo an induction and training and are recognized for their contribution.

Corporate volunteering

We were delighted to be able to continue building our relationship with past supporters and new ones helping throughout the year with essential tasks that kept our Farm in tip top shape and our events running to order. We are extremely grateful to the 500+ individual corporate volunteers who gave a full day of support, and for their financial contributions too that we rely on to keep our Farm a ‘free to access’ resource. 32 different companies volunteered their staff time whilst also benefitting from team building and connecting with the community. Thank you to: Paraffin, Blackstone, Berkeley Homes, Knight Frank, Pinterest, RBC BBAM, Virgin Media, Iress, Howden Group, Beis, Paramount, Onalytica, CLS, Newable Advisors, Goldman Sachs, Urbium Capital, Marriot, Change Right, Mintec, CMS, Wellcome Trust, Mazars, Gardiner & Theobald, Microsoft, Howden Group, Cleveland Clininc, Blue Bay, Lexis Nexis, Google, Assembly, DEFRA, AbbVie. A particular thanks to Berkeley Homes who repeatedly volunteered and 196 staff members participating in volunteer activities!

PLANS FOR THE FUTURE PERIOD

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For the coming financial year our plans will include:

The Farm will also develop its growing relationships with local businesses and corporates, and our range of off-site activities as well as seeking further ways to support precious inner-city green spaces.

FINANCIAL REVIEW

Funds at the balance sheet date were £571,329 (£538,989 in 2023). Of these funds, £29,892 (£142,250, in 2023) represents restricted funds and £541,438 is unrestricted (£396,739, 2023), an increase of 36.5% on last year's unrestricted reserves, equivalent to eight months of expenditure based on our full year 2024/2025 budget.

Reserves Policy

The Trustees aim to maintain a level of free cash reserves which ensures that there are adequate funds to meet current and known future liabilities. In order to fulfil our responsibility in securing Vauxhall City Farm’s viability beyond the immediate future, and in order to protect the charitable company against serious disruption to its charitable activities, we need to build reliable funds against future uncertainty, such as the cost-of-living crisis that we have experienced throughout the financial year, to absorb setbacks, and to take advantage of change and opportunity over the long term.

Within the unrestricted funds balance for 2024 the free cash reserves are £94,662. Management continues to engage Integrate CIC to drive cash reserves up so that there are adequate free cash reserves to cover three months expenditure

Fundraising

We continued to benefit from support from a diverse range of funders and individuals, to whom we are very grateful. We received both restricted and unrestricted funding from charitable trusts and foundations as well as corporate community funders. To support our long-term sustainability we are developing income generating opportunities such as our newly created orchard of fruit trees that should bear apples, pears, plums and figs in the coming years and our array of vegetables and herbs that will also help generate income to sustain our charitable activities. This is in addition to our more entrepreneurial approach to our hospitality offers led by our Head of Hospitality in increasing sales through our café and the improved efficiency in the management of our farmyard/animal packages and offers and full cost recovery costing of our project funded work.

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Going Concern

During the year and the Board of Trustees and the Finance and General Purposes Committee considered the major risks to which the Farm is exposed. We updated our risk/health and safety related policies in detail with assistance from an independent expert in the field.

We pleased to have gone into the 2024/2025 year with new three-year grant from BBC Children in Need, confirmed year 2 funding from City Bridge Foundation, unrestricted grant renewal from the Taurus Foundation and the continued support, pro bona and financial, from several corporate funders. A realistic and achievable budget has been signed off for the financial year 2024-2025 that supports the confidence that the Farm will continue to exist beyond 2025.

Through these measures, the Farm believes it will continue to raise funds to meet its day-to-day activities and to sustain the free reserves by the end of the financial year to meet more than three months of expenditure. As a result, the Trustees believe the Farm remains a going concern.

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DISCLOSURE OF INFORMATION TO THE AUDITORS We, the directors of the company who held office at the date of approval of these Financial Slalemenls as sel out above each confirm, so far as we are aware, that. There is no relevant audit inlormation of vA)ich the c<)mpany's auditors are unaware," and We have taken all the steps that ￿ ought lo have taken as threclors in order to make ourselves aware of any re￿vant audit informab'on and lo establish Ihal the cornpany s audilois are aware of Ihal information. The financial stslemenls have been prepared in accordan￿ with Ihe accounting policies set out in notes to the accounts and complywilh the charity's governing (knGuinenl, the Ch8ri1iesAcl 2011, and "A¢￿untIng and Reporting by Charities.. Slalement of Recommended Practice. applicable to charities preparing Iheir accounts in accordance with the Financial Reporting Standard applicab￿ in the UK and Republic of Ireland published on the 6th July 2014 la8 amended by Updale Bulletin 1 published on 2 February 20161. This report has been prepared in accordan￿ with the Special Provisions ofPartVll oflhe Companies Act 200S relating lo small Gompanies with the Statement of Recommended Practsce - Accounting and Reporting by charib.es (effective January 20151. This report was approved by the Trustees on 2510912024 .and signed on its behalf by.. Iker Stuart Peel Trustee Trust 15

STATEMENT OF TRUSTEES, RESPONSIBILITY The Tiuslees (who are also diie¢tors olvauxhall City Farm forlhe purposes ofcompany lawl ale responsible for preparing the Trustees, report and the financi81 slalemenls in accordance with applicabl8 law and Unitèd Kingdom Accounting Stsndards (United Kingdom Generally Accepted Accounting Praclicel. Company law requires the Trustees to prepare financial slalernents for each finan(¥al year. Under company law the Trustees must nol approve Ihe financial slalements unless they are satisfied that they give a true and fair view ol the state of affaiis of the charitable company and of the incomiTrJ resources and the application of resources, including the income and expenditure of the charitable company for that period. In preparing these financial slatemenis, the Trustees are required lo.. Select suitable accounting policies and then apply them consistendy. Observe the methods afKI principles in the Charities SORP.. Make judgements and accounb'ng estimates that are reasonable and prudent., Slate whether applicable UK Accounting Standards have been fdlowed, subject to any mateiial departures disclosed and explained in the financial slatemenls., Prepare the financial slalemenls on the goino concern basis unless il is inappropriate lo presume Ihal the charitable company will continue in operation The Trustees are responsible for keeping adequate a¢counling records that are suffi¢i8nt lo show a￿1 explain the charitable company's transactions and disclose with reasonable accuracy al any lirne the finanGial position of the charitable company and enable them to ensure that the firbancial statements comply w￿h the Cuinpciriitr¥ Act 2006. They are also iesponsible foi safeguat(ling the as5815 of the charltable company and hence for taking feasonable steps for the preventson and deleclion of fraud and other itregularilies. This r8POrt was approved by the Trustees on by.. 2510912024 .and signed on its behalf Glèn Trustee Stuart Peel Trustee 16

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF VAUXHALL (CITY) FARM LIMITED For the year ending 31 March 2024

Opinion

We have audited the financial statements of Vauxhall (City) Farm Limited (the 'Charity') for the year ended 31 March 2024 set out on pages 20 to 35. 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 Auditors’ responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements int eh United Kingdom, including the Financial Reporting Council’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

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Other information

The Trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Auditors’ report thereon.

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INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF VAUXHALL (CITY) FARM LIMITED (cont.) For the year ending 31 March 2024

Our opinion on the 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.

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 of 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 our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in 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 trustees

As explained more fully in the Trustees’ responsibilities statement, the Trustees (who are also the directors of the Charity 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

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INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF VAUXHALL (CITY) FARM LIMITED (cont.) For the year ending 31 March 2024

Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatements, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company’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 charitable company or to cease operations, or have no realistic alternative but to do so.

Auditors' 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 misstatements, whether due to fraud or error, and to issue an Auditors’ 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.

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 Auditors’ report.

Use of our report

This report is made solely to the charitable company’s 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 charitable company’s members those matters we are required to state to them in an Auditors’ 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 charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Morlai Kargbo, FCCA (Senior Statutory Auditor)

for and on behalf of Moracle Limited

Chartered Certified Accountants & Registered Auditors Statutory Auditors 960 Capability Green Luton, England LU1 3PE Date: 23/10/24

19

STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT

For the year ending 31 March 2024

INCOME FROM:
Note
Donations and legacies
2
Charitable activities
3
Other trading activites
4,5
Investments
6
Other income
TOTAL INCOME
EXPENDITURE ON:
Raising funds
4
Charitable activities
8
TOTAL EXPENDITURE
11
NET INCOME/ (EXPENDITURE) BEFORE TRANSFERS
20
Transfers Between Funds
20
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
Funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds 2024
Restricted funds
2024
Total funds
2024
2023
£
£
£
£
230,189
201,774
431,964
556,683
156,401
-
156,401
122,834
145,396
-
145,396
119,037
1,750
-
1,750
693
-
-
-
-
533,737
201,774
735,513
799,248
38,044
-
38,044
37,140
457,382
207,744
665,127
624,785
495,427
207,744
703,171
661,924
38,311
(5,970)
32,341
137,323
106,388
(106,388)
-
-
144,699
(112,358)
32,341
137,322
396,739
142,250
538,989
401,667
541,438
29,892
571,329
538,989

20

BALANCE SHEET For the ear ondlng 31 March 2024 IOZ4 Not FIXEOASSErs TaTrgible assets 15 417,054 247.872 1.116 5&991 Capltsl Work In Progress 2,025 CURRENT ASSETS stocks 17 10.710 4&389 154,342 211.441 4&081 Clebt 47.650 21&158 Cas aibank and In hand 31189) (RE￿T0￿.. 3mountifillin8du¢within yeaT NFfcuRREfiT ASSETS IWPAII 152.250 S?L329 233.tKF) 534989 NEf ASSErs CII4RttY FUND5 AÈstri(ied funds 29,￿2 S41.438 142,250 ￿￿,73> 538.989 Lknrc5tricled IOTAiFUP+D5 57L329 The Charity's financial stslements have been prepared in accordance with the provisions applicabte lo companies subject lo Ihe small companies, regime. -firkan¢ial statements were approved and authorized for issue by the Tru51ees on. 2510912024 gned on their behalf by.. and Gwa Truste er stuart P&91 Trustee 21

STATEMENT OF CASHFLOW

For the year ending 31 March 2024

STATEMENT OF CASHFLOW
For theyear ending 31 March 2024
Cash flows from operating activities
Net cash provided by/(used in) operating activities
Cash flows from Investing activities:
Dividends, interest and rents from investments
Purchase of intangible fixed assets
Purchase of tangible fixed assets
Net cash provided by/(used in) investing activities
Change In cash and cash equivalents in the year
Cash and cash equivalents brought forward
Cash and cash equivalents carried forward		 2024
2023
£
£
55,638

132,546
1,750

693

(600)

-

(120,604)
(191,640)
(119,454)
(190,947)
(63,815)

(58,401)
218,158

276,559
154,342
218,158

22

For the year ending 31 March 2024

NOTES TO THE FINANCIAL STATEMENTS

1. ACCOUNTING POLICIES

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Vauxhall (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.

1.2 Company status

The Charity is a company limited by guarantee. The members of the Charity are the Trustees named on page 1. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity.

1.3 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

For legacies, entitlement is taken as the earlier of the date on which either: the Charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably, and the Charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the Charity, or the Charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

Donated services or facilities are recognised when the Charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the Charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognised and refer to the Trustees' report for more information about their contribution.

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

23

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.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognized at the time of the donation.

Income tax recoverable in relation to investment income is recognized at the time the investment income is receivable.

NOTES TO THE FINANCIAL STATEMENTS (Cont.)

For the year ending 31 March 2024

1.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use.

Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the Charity and include project management carried out at Headquarters.

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Charitable activities and Governance costs are costs incurred on the Charity's educational operations, including support costs and costs relating to the governance of the Charity apportioned to charitable activities.

1.5. Turnover

Turnover comprises revenue recognised by the Charity in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

1.6 Tangible fixed assets and depreciation

All assets costing more than £500 are capitalised.

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities incorporating income and expenditure account.

During the year, the Trustees carried out a review of the accounting treatment of the charities Fixed Assets. The review concluded that Riding Stables should be depreciated over 20 years rather than 9 years and Leasehold improvements should be depreciated over 20 years rather than 4 years. The Trustees agreed that this change more realistically reflected the lifetime over which these assets would be used and was more aligned with similar charities. Depreciation in the year would have been £76,541 higher based on the previous accounting treatment.

24

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold improvements 5% straight line General farm equipment Computer 25% straight line Equipment 25% straight line Riding Stables 5% straight line

25

NOTES TO THE FINANCIAL STATEMENTS (Cont.)

For the year ending 31 March 2024

1.7 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.

1.8 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

1.9 Debtors

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

1.10 Cash at Bank and in hand

Cash at bank and 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.

1.11 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

1.12 Financial Instruments

The Charity 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.13 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

26

NOTES TO THE FINANCIAL STATEMENTS (Cont.)

For the year ending 31 March 2024

1.14 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

2. INCOME FROM DONATIONS AND LEGACIES

2.0 Donations and Legacies
Donations from individuals
Grants
Corporate donations
Marketing
Total donations and legacies
Total 2023		 Unrestricted
funds 2024
Restricted
funds 2024
Total funds
2024
Total funds
2023
£
£
£
£
165,593
-
165,593
173,935
23,270
196,774
220,044
368,453
41,327
5,000
46,327
14,294
-
-
-
-
230,189
201,774
431,964
556,683
221,646
335,036
556,683

27

NOTES TO THE FINANCIAL STATEMENTS (Cont.)

For the year ending 31 March 2024

3. INCOME FROM CHARITABLE ACTIVITIES

School visits, animal outs and sponsorships
Allotments and room hire
Riding
Corporate Challenge
Livestock sales
Filming
RDA
Farmyard trading
Other income
Total 2023		 Unrestricted
funds 2024
Restricted
funds 2024
Total funds
2024
Total funds
2023
£
£
£
£
19,972
-
19,972
35,222
-
-
-
-
38,032
-
38,032
11,518
45,785
-
45,785
39,811
21,250
-
21,250
1,360
7,585
-
7,585
2,077
-
-
-
-
23,777
-
23,777
32,845
-
-
156,401
-
156,401
122,834
122,834
-
122,834
4. Fundraising Income
Gala dinner
Orbit Abseil
Music events
Other fundraising events
Total 2023		 Unrestricted
funds 2024
Restricted
funds 2024
Total funds
2024
Total funds
2023
£
£
£
£
-
-
-
-
-
-
-
-
-
-
-
-
11,044
-
11,044
-
11,044
-
11,044
-
-
-
-

28

NOTES TO THE FINANCIAL STATEMENTS (Cont.)

For the year ending 31 March 2024

5. TRADING ACTIVITIES

Charity trading Income
Cafe income
Gift shop income
Fundralslng trading expenses
Cafe purchases
Net expenditure from trading activities
6. INVESTMENT INCOME
Bank interest receivable
Total 2022		 Unrestricted
funds 2024
Restricted
funds 2024 Total funds 2024
Total funds
2023
£
£
£
£
134,352
134,352
119,037
-
-
-
134,352
-
134,352
119,037
123,993
123,993
123,600
123,993
-
123,993
123,600
10,359
-
10,359
(4,563)
Unrestricted
funds 2024
Restricted
funds 2024 Total funds 2024
Total funds
2021
£
£
£
£
1,750
-
1,750
693
693
-
693

29

NOTES TO THE FINANCIAL STATEMENTS (Cont.)

For the year ending 31 March 2024

7. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND

Youth and Education
Sport and Recreation
Health and Wellbeing
Total 2023		 Unrestricted
funds 2024
Restricted
funds 2024
Total funds
2024
2023
£
£
£
£
156,487
71,077
227,564
213,761
204,001
92,658
296,659
278,666
96,894
44,010
140,904
132,357
457,382
207,744
665,127
624,785
556,410
68,375
624,785

30

NOTES TO THE FINANCIAL STATEMENTS (Cont.)

For the year ending 31 March 2024

VAUXHALL CITY FARM LIMITED

FOR THE YEAR ENDED 31 MARCH 2024

8. DIRECT COSTS

FOR THE YEAR ENDED 31 MARCH 2024
8. DIRECT COSTS
Staff Welfare
Staff Training & Recruitment
Travel and subsistence
Programme equipment and materials costs
Printing, postage and stationery
Insurance
Licenses and permits
Animal welfare costs
Livestock transport costs
Repairs and maintenance
Other Costs
Health and safety
Miscellaneous
Sessional workers
Wages and salaries
Pension cost
Total 2023		 Youth and
Education
Sport and
Recreation
Health and
Wellbeing
Total 2024
Total 2023
£
£
£
£
£
-
-
-
-
2,353
3,068
1,457
6,879
6,445
142
185
88
415
419
6,917
9,017
4,283
20,216
10,021
1,597
2,081
989
4,667
4,247
-
-
308
402
191
901
744
25,386
33,095
15,719
74,200
43,178
1,822
2,375
1,128
5,324
4,290
2,226
2,902
1,378
6,507
8,424
50
3,098
4,039
1,918
9,055
5,194
-
-
-
-
-
19,032
24,811
11,784
55,627
59,751
64,365
83,908
39,854
188,127
151,188
391
509
242
1,142
1,198
127,637
166,391
79,031
373,109
295,097
100,963
131,619
62,515
295,097

31

NOTES TO THE FINANCIAL STATEMENTS (Cont.)

For the year ending 31 March 2024

VAUXHALL CITY FARM LIMITED

FOR THE YEAR ENDED 31 MARCH 2024

10. SUPPORT COSTS

VAUXHALL CITY FARM LIMITED
FOR THE YEAR ENDED 31 MARCH 2024
10. SUPPORT COSTS
Premises
Adverting & Marketing
Vehicle Expenses
Communications and IT
Legal and Professional
Finance costs
Other costs
Auditor's remuneration
Insurance
Wages and salaries
Pension cost
Amortisation
Depreciation
Total 2023		 Youth and
Education
Sport and
Recreation
Health and
Wellbeing
Total 2024
Total 2023
£
£
£
£
£
7,399
9,646
4,581
21,626
21,021
408
532
253
1,193
6,783
1,660
2,164
1,028
4,851
5,517
2,798
3,647
1,732
8,177
7,575
3,412
4,449
2,113
9,974
18,043
3,037
3,959
1,880
8,876
7,409
2,759
3,597
1,708
8,064
9,447
1,711
2,230
1,059
5,000
5,000
10,479
13,661
6,488
30,628
26,554
62,448
81,409
38,667
182,524
187,362
1,026
1,338
636
3,000
3,310
587
765
363
1,716
2,232
2,186
2,850
1,354
6,390
29,434
99,910
130,246
61,863
292,018
329,687
112,798
147,047
69,843
329,687

32

NOTES TO THE FINANCIAL STATEMENTS (Cont.)

For the year ending 31 March 2024

VAUXHALL CITY FARM LIMITED
ANALYSIS OF EXPENDITURE BY EXPENDITURE TYPE
FOR THE YEAR ENDED 31 MARCH 2024
10. ANALYSIS OF EXPENDITURE BY EXPENDITURE TYPE
Expenditure on raising voluntary income
Expenditure on fundraising trading
Costs of raising funds
Youth and Education
Sport and Recreation
Health and Wellbeing
Charitable activities
Total 2023		 Staff costs 2024
Depreciation &
Amortisation
2024
Other costs
2024
Total 2024
Total 2023
£
£
£
£
£
-
-
-
38,044
-
38,044
37,140
38,044

-
-
38,044
37,140
113,796

2,756
111,011
227,564
213,761
148,349
3,647

144,663
296,659
278,666

70,461
1,702
68,741
140,904
132,357
332,606
8,105
324,415
665,127
624,785
305,150

31,666
287,968
624,785

33

NOTES TO THE FINANCIAL STATEMENTS (Cont.)

For the year ending 31 March 2024

11 ANALYSIS OF EXPENDITURE BY ACTIVITIES

Youth and Education
Sport and Recreation
Health and Wellbeing
Total 2024
Total 2023		 Activities
undertaken
directly 2024
Support costs
2024
Total 2024
Total 2023
£
£
£
£
127,637
99,910
227,564
213,761
166,391
130,246
296,659
278,666
79,031
61,863
140,904
132,357
373,059
292,018
665,127
624,785
295,097
329,687
624,785

12. NET INCOME/EXPENDITURE

12. NET INCOME/EXPENDITURE
Depreciation of tangible fixed assets: - owned by the charity
Horses Loss of Value
Amortisation of Intangible Assets
Auditor's remuneration - Audit
Auditor's remuneration - other services
During the year, no Trustees received any remuneration (2023 - £NIL)
During the year, no Trustees received any benefits in kind (2023 - £NIL).
During the year, no Trustees received any reimbursement of expenses (2023 - £NIL).		 2024
2023
£
£
6,390
25,373
6,738
4,061
1,716
2,232
5,000
5,000
-
-

13. AUDITORS' REMUNERATION

13. AUDITORS' REMUNERATION
2024 2023
£ £
Fees payable to the Charity's auditor and its associates for the audit of the
Charity's annual accounts 5,000 5,000

34

Vauxhall (City) Farm Limited (A company limited by guarantee no. 01524041. Registered charity no. 281512)

NOTES TO THE FINANCIAL STATEMENTS (Cont.)

For the year ending 31 March 2024

14 STAFF COSTS

Wages and salaries (incl Ers NIC)
Other pension costs
Social Security Costs
Average number of persons employed by the Charity during the
year:
General duties
Office and administration
No employee received remuneration amounting to more than
£60,000 in either year.
The total amount of employee benefits
Key management personnel employee benefits		 2024
2023
£
£
342,206
309,146
4,142
4,508
28,445
29,404
374,793
343,058
2024
2023
No.
No.
8
13
7
7
15
20
2024
2023
£
£
1
1
62,801
60,135
164,130
139,134

35

Vauxhall (City) Farm Limited (A company limited by guarantee no. 01524041. Registered charity no. 281512)

NOTES TO THE FINANCIAL STATEMENTS (Cont.)

For the year ending 31 March 2024

15. TANGIBLE FIXED ASSETS

15.TANGIBLE FIXED ASSETS

Temporary
office building		 Leasehold
improvements		 General farm
equipment		 Computer
equipment Riding Stables		 Computer
equipment Riding Stables		 Furnitur &
Fixtures		 Capital Work
in Progress		 Total
£ £ £ £ £ £ £ £
Cost:
At 1 April 2023 40,000 429,839.88 120,802 23,093 119,475 10,145 56,991 800,346
Additions - 174,173.81 - - - 1,398 175,571
Disposals/(Transfers) - - - - - - (54,966) (54,966)
At 31 March 2024 40,000 604,013.69 120,802 23,093 119,475 11,543 2,025 920,951
Depreciation:
At 1 April 2023 40,000 254,602 117,032 18,789 60,855 4,203 - 495,481
Charge for the year 4,013 1,276 2,364 (3,692) 2,428 6,389
At 31 March 2024 40,000 258,614 118,308 21,153 57,163 6,631 - 501,870
NBV At 31 March 2024 - 345,399 2,494 1,940 62,311 4,912 2,025 419,079
At 1 April 2023 - 175,238 3,770 4,304 58,620 5,943 56,991 304,865

15.1. INTANGIBLE ASSETS

15.1. INTANGIBLE ASSETS 15.1. INTANGIBLE ASSETS 15.1. INTANGIBLE ASSETS 15.1. INTANGIBLE ASSETS 15.1. INTANGIBLE ASSETS 15.1. INTANGIBLE ASSETS 15.1. INTANGIBLE ASSETS 15.1. INTANGIBLE ASSETS
Website Design 01/04/23 Cost 01/04/23 Acc
Amortisation
01/04/23 NBV		 Additions FY24
Amortisation
31/03/24
Accom
Amortisation

31/03/24
NBV
6,695 (5,579) 1,116 600 (1,716) (7,295) -

16. CAPITAL WORK IN PROGRESS

16. CAPITAL WORK IN PROGRESS
Supplier Project Total
Capital & Provincial Project
Management & BuildingConsultancyLtd		 Developing the farm 750.00
Double Sided Limited Website strategy, design and build 1st
Instalment		 1,275.00
31/03/2024 Balance
2,025.00

36

Vauxhall (City) Farm Limited (A company limited by guarantee no. 01524041. Registered charity no. 281512)

NOTES TO THE FINANCIAL STATEMENTS (Cont.) For the year ending 31 March 2024

17. STOCKS
Farm Animals and Goods for resale
18. DEBTORS
Trade debtors
Prepayments and accrued income (Gift
Aid reclaimed)
VAT Refund Due

19. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

19. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
£
£
Trade creditors
Other taxation and social security		 21,067
25,517
14,176
23,131
Accruals and deferred income 23,948
32,233
59,191
80,881

37

Vauxhall (City) Farm Limited (A company limited by guarantee no. 01524041. Registered charity no. 281512)

NOTES TO THE FINANCIAL STATEMENTS (Cont.)

For the year ending 31 March 2024

20. FUND SUMMARY
Designated funds
Designated - fixed assets fund
Designated -non- fixed assets fund
Total Designated funds
UNRESTRICTED FUNDS
General fund
Total General funds
Total Unrestricted funds		 Balance at 1
April 2023
Income
Expenditure
Transfers
in/out
Balance at
31 March
2024
£
£
£
£
£
304,863
106,388
411,252
35,524
35,524
340,387
-
-
106,388
446,776
56,351
533,737
(495,427)
94,662
56,351
533,737
(495,427)
-
94,662
396,739
533,737
(495,427)
106,388
541,438

38

Vauxhall (City) Farm Limited (A company limited by guarantee no. 01524041. Registered charity no. 281512)

NOTES TO THE FINANCIAL STATEMENTS (Cont.)

For the year ending 31 March 2024

RESTRICTED FUNDS
Finnis Scott
Loriners
Peter Harrison Foundation
Maria Marina Foundation-Education
Caring as One Foundation
Jack Petchey Foundation-Education
Kusuma Trust
Community Garden project
CLS Holdings Plc
Ninevah Trust
Drapers
Fixed Asset Fund
City Bridge
Ironmongers
Sir Walter St John SWSJ
True Colours Trust
Hedley Foundation
Clothworkers Federation
Saddlers Company
Community Fund
Walcott Foundation
The Garfield Weston Foundation
South Western Railways
Total restricted funds		 Balance at 1
April 2023
Income
Expenditure
Transfers
in/out
Balance at
31 March
2024
£
£
£
£
£
2,500
(2,500)
-
5,000
3,000
(8,000)
-
2,893
(2,893)
0
19,086
20,000
(29,438)
9,648
16,318
(16,318)
-
10,680
8,356
(19,036)
-
4,000
(4,000)
-
2,530
(2,530)
-
5,000
(1,015)
(3,985)
-
8,499
(6,991)
1,508
10,000
(10,000)
-
5,584
(5,584)
-
-
50,000
(50,000)
-
-
9,676
9,676
-
3,575
(3,575)
-
5,000
(5,000)
-
0
3,000
(1,451)
1,549
42,347
(29,517)
(12,830)
-
1,500
(1,500)
-
9,907
(9,907)
-
0
10,000
(2,489)
7,511
14,905
(14,905)
-
-
70,668
(70,668)
-
142,250
201,774
(207,744)
(106,388)
29,892

39

Vauxhall (City) Farm Limited (A company limited by guarantee no. 01524041. Registered charity no. 281512)

NOTES TO THE FINANCIAL STATEMENTS (Cont.)

For the year ending 31 March 2024

PRIOR YEAR
Designated funds
Designated - fixed assets fund
Designated -non- fixed assets fund
General funds
General funds
Total Unrestricted funds
Restricted funds
The William Dean Trust
Finnis Scott
Bruce Wake Charity
Elizabeth Dendy
CLS Holdings Plc
Loriners
Walcott Foundation
Peter Harrison Foundation
Maria Marina Foundation-Education
Caring as One Foundation
Jack Petchey Foundation-Education
Grow Back Greener (GLA)
Lambeth Kick Start
Kusuma Trust
Community Garden project
Mayor'sFund For England
The Mayor and Burgesses of Lambeth
Education Hub
Fixed Asset Fund
Leathersellers
CAF Resilience Fund
Sir Walter St John SWSJ
True Colours Trust
Ann Duchess of Westminster Fund
Clothworkers Federation
Saddlers Company
Community Fund
Lambeth Council-Social value Fund
The Garfield Weston Foundation
Worshipful Company of Tinplate Makers
Total restricted funds
SUMMARY OF FUNDS
General funds
Restricted funds
TOTAL OF FUNDS		 Balance at 1
April 2022
Income
Expenditure
Transfers in/out
Balance at 31
March 2023
£
£
£
£
£
125,655
179,208
304,863
109,947
-
-
(74,423)
35,524
83,926
464,211
(593,550)
101,765
56,352
209,581
464,211
(593,550)
27,342
396,739
1,000
(1,000)
-
2,500
-
2,500
1,500
(1,500)
-
3,000
(3,000)
-
1,750
(1,750)
-
5,000
5,000
10,000
(10,000)
-
5,794
15,000
(17,901)
2,893
505
20,000
(1,419)
19,086
460
15,858
-
-
16,318
1,127
10,680
(1,127)
10,680
15,691
20,000
(35,691)
-
-
4,654
(4,654)
(0)
-
51,858
(47,858)
4,000
2,530
2,530
1,400
(1,400)
(0)
1,000
(1,000)
(0)
759
(759)
(0)
6,876
(1,293)
5,584
8,558
(8,558)
-
189
(189)
-
2,500
2,579
(5,079)
-
5,000
5,000
5,000
(5,000)
0
88,000
(45,653)
42,347
1,500
1,500
9,907
9,907
10,000
(10,000)
0
75,000
(60,095)
14,905
10,000
(2,596)
(7,404)
-
82,139
335,037
(68,375)
(206,550)
142,250
Brought
forward
Incoming
resources
Resources
expended
Transfers
between funds
Carried
forward
£
£
£
£
£
396,739
533,737
(495,427)
106,388
541,438
142,250
201,774
(207,744)
(106,388)
29,892
538,989
735,512
(703,171)
-
571,329

40

Vauxhall (City) Farm Limited (A company limited by guarantee no. 01524041. Registered charity no. 281512)

NOTES TO THE FINANCIAL STATEMENTS (Cont.) For the year ending 31 March 2024

Purpose of Restricted Funds

The Youth and Education Fund provides tailored activities for various target groups such as local children, young people and young disabled people, together with curriculum-based education programmes for schools and community groups in and around London.

21. ANALYSIS OF NET ASSETS BETWEEN FUNDS
CURRENT YEAR
Tangible fixed assets
Intangible Assets
Current assets
Creditors due within one year
PRIOR YEAR
Tangible fixed assets
Intangible Assets
Current assets
Creditors due within one year		 Unrestricted
funds 2024
Restricted
funds 2024
Total funds
2024
£
£
£
27,192
391,887
419,079
-
-
-
573,436
(361,995)
211,441
(59,191)
-
(59,191)
541,438
29,892
571,328
Unrestricted
funds 2023
Restricted
funds 2023
Total funds
2023
£
£
£
27,192
277,671
304,864
1,116
-
1,116
449,311
(135,421)
313,890
(80,881)
-
(80,881)
396,738
142,250
538,989

41

Vauxhall (City) Farm Limited (A company limited by guarantee no. 01524041. Registered charity no. 281512)

NOTES TO THE FINANCIAL STATEMENTS (Cont.) For the year ending 31 March 2024

22. RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES
Net expenditure for the year (as per Statement of Financial Activites)
Adjustment for:
Depreciation charges Fixed Assets
Amortisation charges
Dividends, interest and rents from investments
Decrease/(increase) in stocks
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Assets acquired as gifts in kind		 2024
2023
£
£
32,341
137,322
6,390
25,373
1,716
2,232
(1,750)
(693)
37,371
-
1,262
-
(21,690)
-
-
55,638
164,235

23. ANALYSIS OF CASH AND CASH EQUIVALENTS

2024 2023
£ £
Bank and Cash On hand 154,342 218,158
Total 154,342 218,158

42

Vauxhall (City) Farm Limited (A company limited by guarantee no. 01524041. Registered charity no. 281512)

NOTES TO THE FINANCIAL STATEMENTS (Cont.)

For the year ending 31 March 2024

24. PENSION COMMITMENTS

The charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of this charity in an independently administered fund.

The pension cost charge represents contributions payable by this charity to the fund and amounted to £4,142 (2023: £4,508). At the balance sheet, £2,024 (2023: £1,971) was payable to the fund and is included in creditors.

25. OPERATING LEASE COMMITMENTS

Amounts payable:
Within 1 year
Between 1 and 5 years
After more than 5 years		 2024
2023
£
£
7,246
6,914
14,287
655
0
0
21,534
7,569

26. RELATED PARTY TRANSACTIONS

2024
2023
During the year, 24 000 (2023: 15,000) was received as a donation from Faith Boardman, chairman
24,000
15,000		 2024
2023
During the year, 24 000 (2023: 15,000) was received as a donation from Faith Boardman, chairman
24,000
15,000
and trustee of the charity.
During the year, fire and intruder alarm services amounting to £167 (2023: £570) was obtained from West
London Security (WLS). WLS is owned and operated by Jeremy Ewen, husband of Alison Ewen, who is a
trustee of the charity. Consideration paid for the services was on an arm's length basis.
No amount (2023: £Nil) was outstanding at the year end.

43