2022-03-31-accounts - Paddington Farm Trust Limited

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				Page
Report ofthe	Trustees		1	to	3
Independent	Examiner's	Report
Statement of	Financial	Activities
Balance Sheet
Notes to the	Financial Statements		7	to	16

	fo	r the Year E	nded 31 March	2022
					2022	2021
			Unrestricted	Restricted	Total	Total
		Notes	funds	funds	funds f	funds E
INCOME AND ENDOWMENTS	FROM
Donations and legacies			16,692	25,861	42,553	44,165
Charitable activities
Farming			14,521		14,521	17,049
Residential and non-residential	activities		77,013		77,013	57,750
Cottage rental			6,942		6,942	6,800
Other trading activities			8,063		8,063	5,501
Investment income			67		67	81
Other income			15		15	400
Total			123,313	25,861	149,174	131,746
EXPENDITURE ON
Charitable activities
Farming			18,431	803	19,234	15,034
Residential and non-residential	activities		93,496	17,946	111,442	96,440
Cottage rental			7,534		7,534	7,641
Total			119,461	18,749	138,210	119,115
NET INCOME			3,852	7,112	10,964	12,631
RECONCILIATION OF FUNDS
Total funds brought forward			144,419	4,803	149,222	136,591
TOTAL FUNDS CARRIED FORWARD			148,271	11,915	160,186	149,222

3.	DONATIONS	AND LEGACIES
						2022 F	2021f
	Donations					26,&86	23,457
	Other grants	and sponsorship				15,667	20,708
						42,553	44,165
4.	OTHER TRADING ACTIVITIES
						2022	2021
	Rental income					390	1,549
	Scrap project Lettings income					2,996 4,677	1,704 2,248
						8,063	5,501
5.	INVESTMENT INCOME
						2022f	2021 F
	Dividends					67	78
	Deposit account interest						3
						67	81
	INCOME FROM CHARITABLE		ACTMTIES
			Activity			2022f	2021 K
	Farming		Farming			13,034	11,574
	Grants		Farming			1,487	5,475
	Residential		Residential	and non-residential	activities	63,110	22,110
	Non residential activities and
	events		Residential	and non-residential	activities	5,478	4,623
	Grants		Residential	and non-residential	activities	8,425	31,017
	Cottage rental		Cottage rental			6,942	6,&00
						9&,476	&1,599
	Grants received, included in the		above, are	as follows:
						2022	2021
						E	F
	Coronavirus	Job Retention Scheme				9,912	36,492
7.	CHARITABLE ACTIVITIES COSTS
					Direct	Support
					Costs (see	costs (see
					note 8)	note 9)	Totals
					E	E
	Farming				10,624	8,610	19,234
	Residential	and non-residential	activities		19,944	91,498	111,442
	Cottage rental					7,534	7,534
					30,568	107,642	138,210

DIRECT COSTS OF	CHARITABLE ACTIVITIES
		2022f	2021f
Advertising Animal feed		2,189 1,502	1,278
Subscriptions Residential supplies Other farm costs	and cleaning	1,059 5,764 8,063	720 1,976 4,306
Festival and other activity costs Bad debts		11,991	136 1,557
		30,568	9,973

SUPPORT	COSTS
						Governance
			Management f		Finance f	costs f	Totals f
Farming Residential	and non-residential	activities	8,300 88,204		90 953	220 2,341	8,610 91,498
Cottage rental				7,263	78	193	7,534
			103,767		1,121	2,754	107,642
Activity		Basis ofallocation
Management		8'/o Farming,	85'/o	ResidentialiNon-Residential		and 7'/o Cottage
Finance		8% Farming,	85'/o	ResidentialiNon-Residential		and 7%Cottage
Governance	costs	8'/o Farming,	85'/o	ResidentialiNon-Residential		and 7'/o Cottage

Support costs, induded in the a	bove, ar	e as fo	llows:
						2022	2021
			Residential
			and
			non-residential	Cottage		Total	Total
	Farming f		activities f	rental f		activities	activities
Wages Pensions	5,058 82		53,751 868	4,427 71		63,236 1,021	49,891 739
Rates and water	294		3,124	257		3,675	4,892
Insurance		389	4,135		341	4,865	4,149
Light and heat		648	6,888		567	8,103	9,388
Telephone Waste disposal Motor vehide expenses Other office costs		20 125 247 261	208 1,329 2,626 2,770		17 109 216 228	245 1,563 3,089 3,259	641 1,209 2,013 2,622
Staff and volunteer
expenses Other premises costs		112 652	1,190 6,933		98 571	1,400 8,156	180 24,660
Depreciation oftangible assets		412	4,382		361	5,155	4,626
Bank charges		66	695		57	818	1,024
Interest payable and similar charges Accountancyfees		24 220	258 2,341		21 193	303 2,754	3,108
	8,610		91,498	7,534		107,642	109,142

			2022	2021
			E
Depreciation	-owned assets		5,155	4,626
Surplus on disposal offixed assets				(400)
Accountancy	and Independent	examination	2,754	3,108

Two trustees were re	imbursed expenses tot	alling 6295(2021:Nil).
STAFF COSTS
			2022	2021
Wages and salaries			63,236	49,891
Other pension costs			1,021	739
			64,257	50,630
The average monthly	number ofemployees	during the year was as follows:
			2022	2021
Employees			5	4

COMPARA	TIVES FOR THE S	TATEMENT	OF FINANCIAL A	CTIVITIES
				Unrestricted	Restricted	Total
				funds	funds f	fundsf
INCOME AND ENDOWMENTS		FROM
Donations	and legacies			36,562	7,603	44,165
Charitable	activities
Farming				17,049		17,049
Residential	and non-residential	activities		57,750		57,750
Cottage rental				6,800		6,800
Other trading activities Investment income				5,501 81		5,501 81
Other income				400		400
Total				124,143	7,603	131,746
EXPENDITURE ON
Charitable	activities
Farming				12,231	2,803	15,034
Residential	and non-residential	activities		96,440		96,440
			Page 11			continued ..

			Unrestricted	Restricted	Total
			funds f	funds f	fundsf
Cottage rental			7,641		7,641
Total			116,312	2,803	119,115
NET INCOME			7,831	4,800	12,631
RECONCILIATION		OF FUNDS
Total funds brought forward			136,588		136,591
TOTAL FUNDS	CARRIED FORWARD		144,419	4,803	149,222
GOVERNMENT	GRANT INCOME
				2022	2021
				E
Mendip Council				12,667	20,708
Coronavirus Job	Retention Scheme			9,912	36,492
Glastonbury Town		Council		3,000

TANGIBLE FIXEDASSETS
			Office
			equipment
			and
		Site and	fixtures
	Freehold	farm	and	Motor
	property	equipment	fittings	vehicles	Totals
	E		E		f.
COST
At 1 April 2021	370,029	46,170	15,581	2,000	433,780
Additions		2,176			2,176
Disposals		(1,500)			(1,500)
At 31 March 2022	370,029	46,846	15,581	2,000	434,456
DEPRECIATION
At 1 April 2021	270,597	46,170	11,826	2,000	330,593
Charge for year	869	725	3,561		5,155
Eliminated on disposal		(1,500)			(1,500)
At 31 March 2022	271,466	45,395	15,387	2,000	334,248
NET BOOK VALUE
At 31 March 2022	98,563	1,451			100,208
At 31 March 2021	99,432		3,755		103,187

16.	STOCKS
				2022	2021
	Livestock			2,000	2,300
	Other stock			2,400	2,560
				4,400	4,860
17.	DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
				2022	2021
	Trade debtors			685	2,095
	Social security and other taxes			1,373
	Prepayments and accrued	income		7,456
				9,514	2,095
18.	CREDITORS: AMOUNTS	FALLING DUE WITHIN ONE YEAR
				2022	2021
	Bank loans and overdrafts	(see note 20)		5,768	3,016
	Social security and other taxes				203
	Other creditors			240	144
	Accruals and deferred income			21,258	23,472
				27,266	26,835
	Deferred income
					R
	Deferred Income at 1 April	2021			21,092
	Resources deferred in the	year			18,831
	Amounts released from previous years			(21,093)
	Deferred Income at 31 March		2022		18,831
	At the balance sheet date	the	charity was holding funds received	in advance for 22/23 activities/bookings.
19.	CREDITORS: AMOUNTS	FALLING DUE AFTER MORE THAN		ONE YEAR
				2022 E	2021 f
	Bank loans (see note 20)			21,873	26,984
20.	LOANS
	An analysis of the maturity	of	loans is given below:
				2022	2021
	Amounts falling due within	one year on demand:
	Bank loans			5,768	3,016
	Amounts falling between one		and two years:
	Bank loans -1-2years			5,909	6,082
	Amounts falling due between		two and five years:
	Bank loans -2-5years			15,964	19,184
	Amounts falling due in more than five years:
	Repayable by instalments:
	Bank loans more 5yr by instal				1,718

ANALYSIS O	F NET ASSETS BE	TWEEN FUNDS
				2022	2021
		Unrestricted	Restricted	Total	Total
		funds	funds F	funds	fundsf
Fixed assets		100,208		100,208	103,187
Current assets		97,202	11,915	109,117	99,854
Current liabilities		(27,266)		(27,266)	(26,835)
Long term liabilities		(21,873)		(21,873)	(26,984)
		148,271	11,915	160,186	149,222
MOVEMENT	IN FUNDS
				Net
				movement	At
			At 1.4.21	in funds	31.322
Unrestricted	funds
General fund			144,419	3,852	148,271
Restricted funds
Trees			803	(803)
Open Days			2,500	(2,500)
Host families	from Pimlico		1,500	(1,500)
Tractor				3,000	3,000
Solar panels Volunteer support				2,000 6,915	2,000 6,915
			4,803	7,112	11,915
TOTAL FUNDS			149,222	10,964	160,186
Net movement	in funds, included	in the above are as follows:
			Incoming	Resources	Movement
			resources	expended f	in funds E
Unrestricted	funds
General fund			123,313	(119,461)	3,852
Restricted funds
Tlees				(803)	(803)
Family Festival			13,946	(13,946)
Open Days				(2,500)	(2,500)
Host families	from Pimlico			(1,500)	(1,500)
Tractor			3,000		3,000
Solar panels Volunteer support			2,000 6,915		2,000 6,915
			25,861	(18,749)	7,112
TOTALFUNDS			149,174	(138,210)	10,964

Comparatives	for moveme	nt in funds
				Net
				movement	At
			At 1.4.20	in funds	31.3.21 f
Unrestricted	funds
General fund			29,386	12,304	41,690
Fixed assets			107,202	(4,473)	102,729
			136,58&	7,831	144,419
Restricted funds
Apple Press Trees				(3) 803	803
Open Days Host families	from Pimlico			2,500 1,500	2,500 1,500
				4,800	4,803
TOTAL FUNDS			136,591	12,631	149,222
Comparative	net movement	in funds, induded	in the above are as follows:
			Incoming	Resources	Movement
			resources	expended	in funds
					E
Unrestricted	funds
General fund			124,143	(111,839)	12,304
Fixed assets				(4,473)	(4,473)
			124,143	(116,312)	7,831
Restricted funds
Apple Press Trees			1,800 1,803	(1,803) (1,000)	(3) 803
Open Days Host families	from Pimlico		2,500 1,500		2,500 1,500
			7,603	(2,803)	4,800
TOTAL FUNDS			131,746	(119,115)	12,631