REGISTERED COMPANY NUMBER: 01700477 (England and Wales) REGISTERED CHARITY NUMBER: 286785
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2025
for Paddington Farm Trust Ltd
Monahans Chartered Accountants 3 Landmark House Wirral Park Road Glastonbury Somerset BA6 9FR
Paddington Farm Trust Ltd
Contents of the Financial Statements for the Year Ended 31 March 2025
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 15 |
Paddington Farm Trust Ltd (Registered number: 01700477)
Report of the Trustees for the Year Ended 31 March 2025
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of 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 2019).
OBJECTIVES AND ACTIVITIES Objectives and aims Objects
The objects of the charity are:
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(A) To promote for the benefit of the inhabitants of London, Somerset and the United Kingdom without distinction of sex or of political, religious or other opinions by associating the statutory authorities and voluntary organisations and inhabitants in a common effort to advance education and to provide facilities in the interests of social welfare for recreation and other leisure-time occupation, particularly for those who have need of such facilities by reason of their youth, age, infirmity or disablement, poverty or social and economic circumstances.
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(B) To advance education of said inhabitants in agriculture, horticulture, home-crafts, country life and related subjects, and in the principles of self-discipline and good citizenship through their leisure-time activities so that they develop their physical, mental and spiritual capacities and grow to full maturity as individuals and members of society, and their conditions of life may be improved.
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(C) To promote among the general population of the area of benefit humanity and morally by educating them in care and consideration of all animals, particularly animals in need of care and protection.
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(D) To provide education and training for persons who have need of such facilities by reason of their youth, age, infirmity or disablement, poverty or social and economic circumstances, so as to prepare them for any trade, occupation or service and thereby advance them in life or enable them to earn their own livelihood.
Significant activities
In meeting these objects the charity carries out the following activities:
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Organic farming and market gardening.
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Camping and residential accommodation for visitors.
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Classes in forest skills, sources of food and nature.
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Opportunities for volunteers.
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Providing one farming apprenticeship.
The Trustees have paid due regard to Charity Commission guidance on public benefit in deciding what activities the charity should undertake now and in the future.
ACHIEVEMENTS AND PERFORMANCE
This year saw a large increase in residential bookings, and we were pleased to host many of our longstanding London-based groups, including Paddington Arts, the Otherwise Club, Radical Faeries, Nature Vibezzz, Fourth Feathers, Hackney Woodcraft Folk and Black 2 Nature.
We were also able to host our Summer Extravaganza with Children's World - a family-friendly event providing rural craft workshops, theatre and circus activities. This was funded by Glastonbury Town Council and we thank them for their support.
Nature Vibezzz donated £3000 for tools. The Clothworks Foundation granted £5785 to replace the Farmhouse north facing roof. The National Lottery (Awards for All) granted £19, 868.60 to host a programme of events and workshops and to support volunteers.
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Paddington Farm Trust Ltd (Registered number: 01700477)
Report of the Trustees for the Year Ended 31 March 2025
FINANCIAL REVIEW Financial position
PFT's key objective is to ensure the charity is financially stable so that it can continue to pursue its aims and objectives.
During this reporting year, the charity made a surplus of £28,263, a significant improvement on the previous 12 months (£3.084 deficit). This is primarily due to the charity's ability to maximise the usage of its residential accommodation. This increase followed several years in which the charity invested considerable sums in the fabric of its residential buildings, helping to make Maidencroft Farm a more appealing place for groups and individuals to stay. Together with the accumulated surplus brought forward from previous year, the organisation had total reserves of £175,519. This included fixed assets with a book value of £134,187. Excluding fixed assets, the charity's unrestricted reserves are £20,411 which represents 10% of income. Restricted reserves are £20,921.
The Trust's principal sources of income are residential accommodation and camping, the sale of farm produce and the renting of farm buildings. During high season, the farm's accommodation is fully utilised by PFT's core user groups. In addition, staff and trustees are finding innovative ways to extend the season and generate more income, flexing the opportunities offered by a social enterprise model.
Reserves policy
The trustees have considered the following factors when reviewing the reserves policy:
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The organisation's risk review
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Contractual obligations to staff including parental leave, maternity leave, sickness pay, pensions and redundancy provision
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Maintaining a safe working environment.
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Forecast capital expenditure on essential maintenance and upgrading of fixtures and fittings including the replacing roofs, ground works to the farm's access lane and water management.
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That an increasing proportion of the organisation's income is derived from primary purpose trading, the success of which is, to some extent, related to the weather (sunny weather encourages camping).
The trustees aim to hold a minimum of three months running costs as free reserves (cash or near cash). Free reserves were £20,411 at the close of the year, equivalent to one and a half months running costs. Whilst this is a slight improvement on the previous year, the Board of Trustees recognise this ongoing challenge, and have established a development subgroup to explore ways to expand the stock of residential and commercial buildings on the farm, thereby increasing annual income.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is a company limited by guarantee governed by its Memorandum and Articles of Association dated 18 February 1983, amended 17 July 2003 and further amended by special resolution dated 5 March 2009.
Organisational structure and recruitment and appointment of new trustees
The charity is controlled by the council of management, who are the trustees. The council may from time to time and at any time appoint any member of the charity as a member of the council.
Risk management
The major risks to which the charity is exposed, as identified by the trustees, have been reviewed and systems or procedures have been established to manage those risks.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
01700477 (England and Wales)
Registered Charity number
286785
Registered office
Maidencroft Farm Maidencroft Lane Wick Glastonbury BA6 8JN
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Paddington Farm Trust Ltd (Registered number: 01700477)
Report of the Trustees for the Year Ended 31 March 2025
Trustees D M Banwell J M Buttigieg A Farrell T R Fitch B Gravelle O J Shaw S Shaw H Taouzzale C Archibald J Kentish
Company Secretary O J Shaw
Independent Examiner
Fiona Westwood FCA Monahans Chartered Accountants 3 Landmark House Wirral Park Road Glastonbury Somerset BA6 9FR
Approved by order of the board of trustees on 22 October 2025 and signed on its behalf by:
J M Buttigieg - Trustee
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Independent Examiner's Report to the Trustees of Paddington Farm Trust Ltd
Independent examiner's report to the trustees of Paddington Farm Trust Ltd ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Fiona Westwood FCA
Monahans Chartered Accountants 3 Landmark House Wirral Park Road Glastonbury Somerset BA6 9FR
1 December 2025
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Paddington Farm Trust Ltd
Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 March 2025
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 3 9,665 Charitable activities 6 Farming 13,082 Residential and non-residential activities 125,514 Other trading activities 4 11,220 Investment income 5 742 Other income 138 Total 160,361 EXPENDITURE ON Charitable activities 7 Farming 25,267 Residential and non-residential activities 127,689 Total 152,956 NET INCOME/(EXPENDITURE) 7,405 RECONCILIATION OF FUNDS Total funds brought forward 147,193 TOTAL FUNDS CARRIED FORWARD 154,598 |
Restricted funds £ 46,378 - - - - - 46,378 13,486 12,034 25,520 20,858 63 20,921 |
2025 Total funds £ 56,043 13,082 125,514 11,220 742 138 206,739 38,753 139,723 178,476 28,263 147,256 175,519 |
2024 Total funds £ 28,910 4,696 108,191 13,624 235 149 155,805 30,650 128,239 158,889 (3,084) 150,340 147,256 |
|---|---|---|---|
The notes form part of these financial statements
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Paddington Farm Trust Ltd (Registered number: 01700477)
| Balance Sheet 31 March 2025 Notes FIXED ASSETS Tangible assets 14 CURRENT ASSETS Stocks 15 Debtors 16 Cash at bank CREDITORS Amounts falling due within one year 17 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 18 NET ASSETS FUNDS 21 Unrestricted funds Restricted funds TOTAL FUNDS |
2025 £ 134,187 1,300 226 72,565 74,091 (29,066) 45,025 179,212 (3,693) 175,519 154,598 20,921 175,519 |
2024 £ 132,043 4,600 425 61,990 67,015 (41,897) 25,118 157,161 (9,905) 147,256 147,193 63 147,256 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 22 October 2025 and were signed on its behalf by:
O J Shaw - Trustee
J M Buttigieg - Trustee
The notes form part of these financial statements
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Paddington Farm Trust Ltd
Notes to the Financial Statements for the Year Ended 31 March 2025
1. GENERAL INFORMATION AND LEGAL STATUS
Paddington Farm Trust Limited is a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. 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. The address of the registered office is given in the charity reference and administrative details on page 2 of these financial statements. The nature of the charity's operations and principal activities are provided in the Report of the Trustees.
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest pound.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Going concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
The following specific polices are applied to particulate categories of income:
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Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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Legacy income is recognised when receipt is probable and entitlement is established.
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Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.
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Income from Farming and residential charitable activities are recognised when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
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Interest income is recognised using the effective interest method.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.
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Paddington Farm Trust Ltd
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
2. ACCOUNTING POLICIES - continued
Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 25 years (excluding land) Site and farm equipment - 33% on straight line basis Office equipment - 25% on straight line basis Motor vehicles - 25% on straight line basis
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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.
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.
Creditors and provisions
Creditors and provisions are recognised where the charity has 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.
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.
Taxation
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
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Paddington Farm Trust Ltd
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
3. DONATIONS AND LEGACIES
| Donations Other grants and sponsorship 4. OTHER TRADING ACTIVITIES Rental income Lettings income 5. INVESTMENT INCOME Dividends Deposit account interest 6. INCOME FROM CHARITABLE ACTIVITIES Activity Farming Farming Residential Residential and non-residential activities Non residential activities and events Residential and non-residential activities 7. CHARITABLE ACTIVITIES COSTS Direct Costs (see note 8) £ Farming 24,357 Residential and non-residential activities 10,165 34,522 |
2025 £ 4,442 51,601 56,043 2025 £ 6,064 5,156 11,220 2025 £ 32 710 742 2025 £ 13,082 122,555 2,959 138,596 Support costs (see note 9) £ 14,396 129,558 143,954 |
2024 £ 3,091 25,819 28,910 2024 £ 8,004 5,620 13,624 2024 £ 47 188 235 2024 £ 4,696 105,588 2,603 112,887 Totals £ 38,753 139,723 178,476 |
|---|---|---|
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Paddington Farm Trust Ltd
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
8. DIRECT COSTS OF CHARITABLE ACTIVITIES
| Animal feed Subscriptions Residential supplies and cleaning Other farm costs Festival and other activity costs |
2025 £ 6,449 2,143 6,912 17,908 1,110 34,522 |
2024 £ 124 1,947 7,713 15,730 5,138 30,652 |
|---|---|---|
9. SUPPORT COSTS
| Management £ Farming 14,064 Residential and non-residential activities 126,576 140,640 |
Governance Finance costs £ £ 126 206 1,132 1,850 1,258 2,056 |
Totals £ 14,396 129,558 143,954 |
|---|---|---|
| Activity | Basis of allocation |
|---|---|
| Management | 10% Farming and 90% Residential/Non-Residential |
| Finance | 10% Farming and 90% Residential/Non-Residential |
| Governance costs | 10% Farming and 90% Residential/Non-Residential |
Support costs, included in the above, are as follows:
| Wages Pensions Rates and water Insurance Light and heat Telephone Advertising Waste disposal Motor vehicle expenses Other office costs Staff and volunteer expenses Other premises costs Depreciation of tangible assets Bank charges Interest payable and similar charges Accountancy fees |
Residential and non-residential Farming activities £ £ 6,725 60,525 125 1,122 298 2,681 570 5,131 1,299 11,695 19 167 - - 390 3,508 1 14 120 1,084 885 7,963 2,886 25,976 746 6,710 93 835 33 297 206 1,850 14,396 129,558 |
2025 Total activities £ 67,250 1,247 2,979 5,701 12,994 186 - 3,898 15 1,204 8,848 28,862 7,456 928 330 2,056 143,954 |
2024 Total activities £ 76,683 1,298 2,231 4,257 10,400 171 653 2,559 243 1,670 7,335 10,817 5,205 1,035 480 3,200 128,237 |
|---|---|---|---|
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Paddington Farm Trust Ltd
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
10. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 7,456 | 5,203 |
| Accountancy and Independent examination | 2,056 | 3,200 |
11. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.
12. STAFF COSTS
| Wages and salaries Other pension costs The average monthly number of employees during the year was as follows: Employees |
2025 £ 67,250 1,247 68,497 2025 4 |
2024 £ 76,683 1,298 77,981 2024 5 |
|---|---|---|
No employees received emoluments in excess of £60,000.
Key management personnel remuneration
The total amount of employee benefits received by key management personnel is £19,680 (2024: £18,933). The charity considers its key management personnel comprise the trustees and the trust director.
13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 18,339 Charitable activities Farming 4,696 Residential and non-residential activities 108,191 Other trading activities 13,624 Investment income 235 Other income 149 Total 145,234 EXPENDITURE ON Charitable activities Farming 27,677 Residential and non-residential activities 114,062 Total 141,739 |
Restricted funds £ 10,571 - - - - - 10,571 2,973 14,177 17,150 |
Total funds £ 28,910 4,696 108,191 13,624 235 149 155,805 30,650 128,239 158,889 |
|---|---|---|
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Paddington Farm Trust Ltd
Notes to the Financial Statements - continued
for the Year Ended 31 March 2025
13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD TANGIBLE FIXED ASSETS Freehold property £ COST At 1 April 2024 404,057 Additions - At 31 March 2025 404,057 DEPRECIATION At 1 April 2024 274,340 Charge for year 1,930 At 31 March 2025 276,270 NET BOOK VALUE At 31 March 2025 127,787 At 31 March 2024 129,717 |
Site and farm equipment £ 53,243 9,600 62,843 50,917 5,526 56,443 6,400 2,326 |
Unrestricted funds £ 3,495 143,698 147,193 Office equipment and fixtures and fittings £ 15,581 - 15,581 15,581 - 15,581 - - |
Restricted funds £ (6,579) 6,642 63 Motor vehicles £ 2,000 - 2,000 2,000 - 2,000 - - |
Total funds £ (3,084) 150,340 147,256 Totals £ 474,881 9,600 484,481 342,838 7,456 350,294 134,187 132,043 |
|---|---|---|---|---|
14. TANGIBLE FIXED ASSETS
Included in cost or valuation of land and buildings is freehold land of £92,499 (2024 - £92,499) which is not depreciated.
15. STOCKS
| Livestock Other stock 16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors |
2025 £ 400 900 1,300 2025 £ 226 |
2024 £ 400 4,200 4,600 2024 £ 425 |
|---|---|---|
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Paddington Farm Trust Ltd
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Bank loans and overdrafts (see note 19) Social security and other taxes Other creditors Accruals and deferred income |
2025 £ 6,212 - 281 22,573 29,066 |
2024 £ 6,059 457 1,743 33,638 41,897 |
|---|---|---|
Deferred Income
| Deferred Income at 1 April 2024 Resources deferred in the year Amounts released from previous years Deferred Income at 31 March 2025 |
£ 30,452 19,850 (30,452) 19,850 |
|---|---|
At the balance sheet date the charity was holding funds received in advance for 25/26 activities/bookings.
18. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
19.
| Bank loans (see note 19) LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank loans Amounts falling between one and two years: Bank loans - 1-2 years Amounts falling due between two and five years: Bank loans - 2-5 years |
2025 £ 3,693 2025 £ 6,212 3,693 - |
2024 £ 9,905 2024 £ 6,059 6,212 3,693 |
|---|---|---|
The loan is supported by the Bounce Back Loan Scheme (BBLS). The Bank have received a guarantee from the UK Government under BBLS. The charity is responsible for the repayment of the loan. The interest rate is 2.5% per year.
20. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Unrestricted funds £ Fixed assets 134,187 Current assets 53,170 Current liabilities (29,066) Long term liabilities (3,693) 154,598 |
Restricted funds £ - 20,921 - - 20,921 |
2025 Total funds £ 134,187 74,091 (29,066) (3,693) 175,519 |
2024 Total funds £ 132,043 67,015 (41,897) (9,905) 147,256 |
|---|---|---|---|
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Paddington Farm Trust Ltd
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
21. MOVEMENT IN FUNDS
| Unrestricted funds General fund Restricted funds Owl aviaries Zephyr Trust Volunteer support TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Roof repairs Building office Zephyr Trust Volunteer support Hedgerow TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Restricted funds Apple Press Volunteer support Owl aviaries TOTAL FUNDS |
At 1.4.24 £ 147,193 63 - - 63 147,256 Incoming resources £ 160,361 5,800 5,000 3,565 19,864 12,149 46,378 206,739 At 1.4.23 £ 143,698 611 6,031 - 6,642 150,340 |
Net movement At in funds 31.3.25 £ £ 7,405 154,598 - 63 3,565 3,565 17,293 17,293 20,858 20,921 28,263 175,519 Resources Movement expended in funds £ £ (152,956) 7,405 (5,800) - (5,000) - - 3,565 (2,571) 17,293 (12,149) - (25,520) 20,858 (178,476) 28,263 Net movement At in funds 31.3.24 £ £ 3,495 147,193 (611) - (6,031) - 63 63 (6,579) 63 (3,084) 147,256 |
|---|---|---|
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Paddington Farm Trust Ltd
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
21. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Apple Press Trees Family Festival Volunteer support Owl aviaries TOTAL FUNDS |
Incoming resources £ 145,234 - 350 4,500 4,721 1,000 10,571 155,805 |
Resources Movement expended in funds £ £ (141,739) 3,495 (611) (611) (350) - (4,500) - (10,752) (6,031) (937) 63 (17,150) (6,579) (158,889) (3,084) |
|---|---|---|
The transfer from the general fund to the fixed asset fund represents the value of fixed asset additions in the period.
Restricted Funds
Owl Aviaries - funding for Owl aviaries Roof Repairs - funding to repair the roof Building Office - funding to build an office Zephyr Trust - funding for volunteer kitchen Volunteer Support - funding to support volunteers Hedgerow - funding for hedgerow planting
22. EMPLOYEE BENEFIT OBLIGATIONS
The charity operates a defined contribution pension scheme. The cost for the period was £1,247 (2024 - £1,298). At the balance sheet date £257 (2034: £250) was outstanding.
23. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2025.
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