Charlty rngl$trakn nuM￿r 2B8070 IEngl•nd and Wales) Company r•glstratlon numb•r 01714560 KEHELLAND HORTICULTURAL CENTRE LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 KEHELLAND HORTICULTURAL CENTRE LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustee& DJKing S L Pyn8r H Bryant G Evans AAttfield P Savid AFreeman (Appointed 25 fvqay 20251 (Appointed 25 April 2025) (Appointed 25 April 20251 (Appointed 25 April 2025) D•leg*t•d management Chief Ex&cutivg- Anlhea Hed S•cr•tary B Davies Chorlty numb•r 288070 Company number 01714560 R•gi¥lernd 0ffi¢o Kehelland Cambome Comwall United ￿ngdtsm TR14 ODD Auditor AzetsAudit SeNce8 Woodlands Court Truro Business Pa Truro Comwall United Kingdom TR49NH Bank•rs Barclays 28 Chapel Slregt Cambome Corm¥all United Kingdom TR14 8EL Solicitors Paddle & Cocks LLP Solicitors Charfés House 18-21 Charles Street Truro Comwall Unlted Kingdom TR12PQ KEHELLAND HORTICULTURAL CENTRE LIMITED CONTENTS Page Trustees. report Statement of Iruslees, responsibilit*s Independent audilorfs report 8-10 Slatem8nl of finan￿81 aclivilies 11 Balancè shè81 12 Slalement of cash flows 13 Notes to the financAal 51alernenls 14-23 KEHELLAND HORTICULTURAL CENTRE LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 AUGUST2025 The trustees presenl their annual reFQrt and financi81 stalem8nts for the year ended 31 August 2025. The financial slalemenls been p￿Pared in accordance with the attounting policies sel out in notè I lo the fin8nd81 stalèrnents and compty with the ¢haritsble company'5 goveming do¢ument, the Companie5 Act 2006, FRS 102 'ThÈ FinanGial R•porting Standard 3pplieablè in thè UK and Republic of Ireland" and the Charrties SORP "Accounting and Reporting by Charities.. Statement of Re¢omm&nded Pradice applicable lo ¢hgritie$ preparing their accounts in accordance with the Finano¥l Reporting Standard applirAble in th8 UK and Republic of Ireland IFRS 102)" Obi•ctiv•s and •¢tlYltl•$ The Trustees of Kehèlland Horticultural Centre Ltd C¢haritable compan1}, Staff and Volunle*rs ¢onlinua to be committed to the charity's mi55i0n slat¥menl'.- 'Tho provlslon of a wral, horti¢ultural s•tting for the $upport of young people and adults with leamlng aftdlor physle•l disabilities. Developing p¢tsonal and soclal skllls, individu•l opportunltlos and actfv• p4rtl¢lpallon In the local Ctsmmunlty" Adhering to the ¢haritys mission 5talemenl, the charitable company was Incorporated In 1983. Since standing alone as a charity in 2011, the tharilabl• company h8$ maintained dose and positive p8rtnèrship$ wrth Cornwall Council and the department ofAduM Soclal Care and Comwall Adutt Edu¢atw)n. The charitable rA)mpany is also a ￿gIster9d training provider with OCN London. The Charity trades as the Kehelland Trust. The focus Ihls financial year has been lo Continuo to maintain OUT service as b&sl 8$ possible and diversify seNices lo meet organisatsonal and individual needs. Public b8n8fj1 The Iruslees have paid due regard lo guidance issued by Ihg Charity Commission in d￿dIng what actm1￿$ Ihe charitat40 mpany should undertaké. Tha Trustees consider that they havg complied with their duty in sèction 17 (51 of the Charities Act 2011, which r4uires them to have due regard to guidan¢e published by the Charity Commlssion. KEHELLAND HORTICULTURAL CENTRE LIMITED TRUSTEES. REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Achlov•m•nts and p•rfomiance Significant aclwih'es and achievemerts against obje¢tives Over the past 12 months we have:. Prowded support for 79 tra￿éeS on indiwdual budgèts within our day service. Expanded our day placements to be able lo offer day service opportunities on a Saturday in wr Camborne shop. Continued to work wilh Comwall Adutt Educab"on and OCN London lour awarding body for the education progTammesl to deliver meaningful and ènriching programmes lo young adults ag8d 16-25 who have an Education, Health and Care Plan. These programmes develop training and 5UPPOrt opportunities for young peoF40 and a¢ro$s a range of topics, induding indèpèndent INing and employablily skills. Our educabon prowsion ￿ntinUeS lo be extemally assessed 8$ exemplary. Delwered Duke of Edinburgh's Bronze Awards to 16 young people,. 8 programtne covering physical, volunteering and skill$ activities, culrninaling ￿ an expedition where many students camped al Kehelland, some of whom had never been away from Iheir families ovemight. Developed our existing lutor team 10 9nablg them to deliver Functional Skills English and maths. wilh all1oameTs given the opportunity to study these subjects from Sèptèmbèr 2025. Extensive work was done with OCN London lo begin relationship with Open Awards, who are the awarding body for Functional Skills. Continued to dèvelop and manage relationships with local business lo provide wc*rk expgrignrA opwrtunilies. with leamers placed in a wide range of sectors. including hospitality, retail, and groundskeeping. Wè wère also featuréd in Opgn Doors magazine la pubh'cation for young people with additional needs and their families), being in￿led to write an a)t"de about our approach to work experience, and how it can beneffit both thè young person and Ihe placfymenl prowdei. Continued 1¢ celebrate & enhance our brand image to providg a dear message about who we are and what we do wilhoul restricting our potential to expand. On social media we now have 4_9k page likes and 4.9k fofiowers with 10 P051s and 1400 followers on Instagram with an average monthly reach of 30. 000, Continued to Nn our town centr8 retail operation in Cambome al 1, Trel¢warren Street whero we supwrted 9 trainees and 2 learners every week and proce$se¢J 18900 tr8nsactions acros8 the year. Hosted & ran community gvgnls from gui town centre shop - Shared Lives ran several infomation sharing and reuuitment events, and we partnéred wlh Gambome Bid lo run community events including a free tree give-away with Forest for Comwall. Reduced wastage on sile, fvlly ulilising our produce wherever possible resulting in impioved profftability. The n8w retail Qutlel in Camborne allows a steady flow of produce from site to sale meaning vasty rÈdueÈd waste. improved profitability a6 our reliance on wholesale has reduc4d and better wsibility and support for ouf fresh, local & seasonal produce. Continued to supply a range of local provenan￿, native perennial wildfiower stock with partneTrhip working whh Cormac's new biodiversity team 'Urban Gr8•n Shoots. a$ w&ll as Buglife & the Sensory Trust. Designed and planted bedding cc￿tracts for Helston Town Countyl. Petranporth Garden Charities, Hayle th Bloom & Illogan Parish Council. Continuèd with the contract for Baker Tom's sèasonal displays and partnered with th• Cornish Pl￿ kn orchard planning & planting. Continued to grow native trees from seed and graft heritage Comish Apple Trees from our Community Tree Nursery thanks lo funds from ComW￿l Council's Forest for Comwall Project. This is led by our Lèarner Horticultural Wotk Experi¢n¢¢ team with events org8nised and run by our HorticuKure & Projects Manager alongside skilled staff and guest partners such as Rèsiliènt Orthards Comwal. Maintained 8nd enhan(￿d our 16-acre sf(e. Maintained our peat-free & minimal chemical use status for our own growing, using biologic81 controls a9ainst p8$1s. Reducing the amount tsf single-use-plaslic as far as possible. Continuing with a nt>dty 8pproa¢h to the land acro$$ sile lo further improve our biodiversity. Sel up an events working party from which wo have devised a year-long Calendar of events for the communhy from monthty Geilidhs lo holiday 'What's on Wednesdays, offering trails, trafts and a popup cafe ulilising the dassroom space. Ran our first ever paying ovemigm wihjlrfe camp for mèmbers Gf the publi¢. Ran and participated in speualised workshops from wreath maknng to specialist pnjning & co-hosted the Orchard NthorkAnnual Gath8ring. Hosted guided tours for visrting groups. Continugd to develop OUT gioup volunteer progiamrnes. Seasart attended every month for 6 month$ 8 Sl. Austell Brevlery for a full team building d8y whi¢h brought in Some income. Attended outreach ev¢nl$'. Wesl Comw811 Honey Fayro, Cambome GTeenFest. Cambome Show & Stithians Show. KEHELLAND HORTICULTURAL CENTRE LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 What do w• n￿d to focus on foi 20251202fj? Ensuiing th&r• is adequate & appropriate InfraStr￿tUre for our day service and education programmes. Market our education programmes lo ensure we ha￿ full capacity of delivery for 202612027. Ensure care ¥nd support sfjrwces continue as be51 as possibl¢ lo ansura full capaaty. Monitoring and responding to the impact of the ongoing cost-of-living crisis on our staff team. trainees. leamers. volunleers & wsit¢fS. 31 trainees every day on our day s•rvice. The TTUYI ¢urrentty provides a seNica for 72 train8es. an average of 30 placements per day. Continue to develop our education programmas to ensure they meet the highe51 standards and idenlified skills n•¥ds. alignad with leamer and local prioritiès, vhth a target of 36 learners per year. To do what we Gin to maintain stability for thè Charity, staff team, trainees, leamers. volunteers & visitors. Continue to build on our existing marketing strategy and our prèsence on the wortdwide web #nd social media nelwork Further develop corporate volunteering and sponsorship iniiiatNes. Ensure that w&dfJings. Private funclions & *ibranl community4ed events and cal&brations continue. Maintain and build on $8le$ income & particularly our profil margins. supportSng & upholding our provision. Build on our in-house production of sales items, improve our seed-saving capabilrtios by ordoring suitable seeds. Continue to develop our online Sales presence. Continue to develop our native p￿nI growing & Gommunrty Tree Nursary programmes lo support r&wilding atMI pollinator projecls acros5 the County. Continuè to grasp opportunities acr085 funding $traams. educational p￿￿$lon and life-skllls support for all those we work whh and want lo work with into Ihe luture. Continu$ lo nurture positive busines5 partnerships. Further invest in Sile enhancement and maintenance. The further embedding of our new Bu$ine5s Plan for 202&2030. R•a*on$ to eelebrnte at the tum of the Ilnan¢lal ye8r. We ¢ontinue lo wort under Comwall Council's Framework fclr our day servicè. Thiy has a far-reachlng Impact,, not on on our accessibility, but on the levels of care we can prowde. Our staff ttram ¢onb"nues to de￿lOp, both lo facililale growth, •nsure exemplary education programmes & day-care support. Staff c(>ntinue to be supported lo develop their skillsets, wi(h designatgd members of staff now being responsible for the Bespoke provision, running our Sw81 media and delivering training on th• téchnology we use lo external providers. We continue to look for ways we can facilf(8le our stsff in develctping their interests in 8 way that also has benefi15 for our learneTS, trainees, the Trust and other professionals. At our exiemal monitoring visit from our awarding organyzation IOCN London). OUT feedback once eggin reflecled that our provision is exemplary acrosy the board - th18 was particularty welcome following the changg sn leadership of thg eduration provision. Our education provision continues to provide excellÈnt programmes with thirty leamers this year. thanks lo a subcontract with Adult Education. We also delwered Bespoke progr8ms (through Comwall Council) to )Ive leamers. The Tru51 have b&gn $u¢¢essful in Iheir application to provide th8 Duke of Edinburgh's Award for our learners, wlh 21 leamers onrollèd. The Board of Trustees would like to thank the whole team at K¢hèlland Tmst for showing extraordinary adaptability and dedication to Ihe work of the charity. lo each other. the trainees, learners. familigs, and volunleers. It has been another challenging year which we have faced confidently & positively. We can be assured that KÈhélland Trust will continue to provide exemplary care. support & educational opportunities for young people and adults with disabililies in Cornwall,. all set within the stunning bad(drop of 16 acre5 of produclNg land, rich in both managed crops & wildlife providing both suslonan¢8 and sanduary. KEHELLAND HORTICULTURAL CENTRE LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Flnonelal revlew During this period, the Trust achieved incoming resources of £1,593,642 12024- £1,481.0901 and outgoing resources of £1,610,768 (2024£1,595,073). An overall deficit in income over expenditura of £17.126. Our main expenditure continues to be staff salaries in order to maintain a skiled and experienced staff team that support the thanging needs of our $&rvicg usars. and the diversifi¢¥tion of $orvic&s I bu$lng$$ development needed. Over the last 5 yoars, Kehenand Trust had been pulling bad( from a largè def￿1, h￿tV￿r, the deficri these last 3 years is indicats've of fundin9 reSQUTces Tiot keeping pace with the increase in goods and services as well as the National Living Vi&ge and Employers National Insurance. Investment in staff has continued to account for our highest costs but has the highest return as maTh)taining a highly skilled and experienced staff team enables us lo continu8 to prowde excellent s&rvices for the people we support. 02412025 02312024 02212023 202112022 117 month$) 1,614,888 1,559,458 55.430 202012021 n¢ome 1,593,642 1.610,768 17.126 1,481.090 1,595.073 £113.983 1,341,268 1,471.427 130.159 940,877 783.387 157,490 ncome endStur• ove Reserves policy Reserves pollcy The Board of Tru$lg$s recognis¢ that in ordèr that the Company may not onty 8uMve, but fulfil its oblert￿o$, h requSres adequate finances to ensure that we can rneet our slalutory requirements and both working capital and caprtal expanditure requirernents. Thè c4)mpany strivès io maintain a heallhy solvency barrier and adheres to the Reserves and Solvency Poly. which is reviewed annualty. Summary of Fund$ 110812025 110812024 110812023 110312022 110312021 otsl Fund• ash at bank and in ar¥J angible 88sets ¥nd ock blors editors 68.908 218.225 86.034 33.180 400.017 344,267 530.176 433,165 30.537 347,564 52.B57 58.507 62,832 68,081 70.205 less £2,174 £5.653 £7,082 8,930 12.768 It is Ihè policy of the charity that unr8Stricted funds which have not been designated for a S￿c￿e use sI￿uld be al least £250,000. The trustees consider th81 reserves al this level will ensu￿ that, in the event of a signtficant Ilwop in ftmding, they will be able lo continue the charity's Gurrenl a￿1VItieS while wnsideialic¥i Is given lo ways in which additional funds may be f8iS8d. Al 31 August 2025 the lotsl funds held by the ¢harty were £268,908 {2024'.£286,034} After excluding langible fixed asseis of £29,412 12024.. £3&,(￿1) and restrKled funds of £nil 12024.. £7,762). the free reserves balance 15 £239,49612024'. £242,211) which falls slighlly below Ihe target ￿e1. The twstees are obwously mindful of this and focused on ensuring we operate efficienuy and effectively in the chall8nging environment we operate in. We are now operating at fvll capa￿ty which ensures revanuo from Cornwall Counc41 is maximisèd. Wa are mindful of keeping cos15 nder control and adapting our resoLbrces accordingly. We are aiming to build up our reserves ovar tha ¢oming year and onsui• that we ar• w￿1 in •xc8ss of thè minimum. KEHELLAND HORTICULTURAL CENTRE LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 Majorrisks The trustees assessed the major rl$k$ lo which the charitable company is exposed, and are satisfied that systems are in Fla￿ to mitigate ex￿ule to the major risks. Stru¢lure. go¥ernanGe and management The organisation is a Charitable Company limited by guarantee. incorporated on 13th April 1983 and registered as a charity on 20 January 1984. The company was established under a Memorandum of Assou8tlon. whith e$tabll$h¢d thg obje¢is and pow9rs of the CharitaL* Cornpany and 1$ wv8m•d under its Arkncle5 ofAs$o¢i81ton. Business and M8nagement are drivon by th& Mission Statement as noted under'objeclives and aciivTties'. The charitable cofflpany has continued lo fac8 difficuhies due to increases in the cost of living. goods and services, fbational minimum wage and staff salarie5, and funding nol keeping pac8 Wth these. Our priority has continued lo be to operate in a safe and secure manner for all our trainees, le8rners & stsff, whilst effectwety delivering seNice5. Oui thanks to all Ih8 staff. trainees. carers, volunteers. and p8rtners who haye d8monstrat?d that a tlèxible and adaptablg approach ¢an help us overcome obstacles. We have continued lo fv￿lI our mission stst9mgnl, maintain a ¢oh8sNe and ever-growing 1¢8m managing both h0￿cu￿￿[al support work and day cale provision and our own eduraknon piogiammes alongside supporting Ihe immediat& ¢ommunty. The Board of Tru51ees continues to govem th* charity in a positive and solulionvfo¢uged way. The trustees. who are also the directOTS for the purpose of company law, and who served during the year and up to the date of Signature of Ihe finanaal statements were.. OJKing S L Pyner H Bryant Swwall l H Smith N Smith G Evans AAttfield P Savidge A Freeman IRg$lgned 19 November 20241 (Rasigned 19 January 20261 (Resigned 12 August 2025) (Appointed 25 May 20251 (Appointed 25 April 20251 (Appointed 25 April 20251 IAppoinled 25 April 20251 Recwilm&nt and appointm&rt oflwslees None of the truste&$ ha$ any banaficial interest in the charitable ts)mpany. All of the trustees are mgmbers of the Charilablg company and guarantèe to contribute £5 in th8 evénl of a winding up. Qualifying tthrdparty ind&ffln￿ prowslons The Trustees c4)n8idei that they haw compfied with their duty in section 17 151 of the CharIt￿$ Act 2011. whkh requlres them lo have due regard to g(Fidance publishèd by thè Charities Commission. KEHELLAND HORTICULTURAL CENTRE LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 Organ&salionalstmcturg The Company is managed by a Board of Trustees,. the rnembers of which distharge the functlons of a Board of Directors. Th& number of Trustee $8a15 on the Board must bo no less than 3. The Twstees are as st8led above and arg unremunerated. Induction procedures are in place for ￿¥ty appc*inted Try￿lee$. wllh DBS che¢ks and references requested a￿1 recorded. l￿ring the reporting period tha Board of Tnjstees met al regular intervals lo receive reports from the Chief Exeajlive and makè decisions. Kèy Performance Indi¢ators. Risk Registers, Finance Reports and staff structure updates formed the b8SIS of meetings with the Chief Executive reporting to the board, rnaking recommendations and the Board voting on dècisions as necessary. Day-to-day rnanagemenl ofthe cornpany is Ca￿led out by the Chief Executive and Team Leadgrs. Managemenl keeps in touch with members of the board as appropriate. AuditQT In accordance with the companVs arti¢ies, a re$olullon proposing that Azet8 Audit Semces be reappointed as auditor of the company will bè pul al a GÈnèr81 Meeting. Disclosure of information to auditor Each of the tmsleès has Confirmed that there is no information of which they ar8 aware which 15 Televant b the audh, but of which the auditor is un8W8re. They have fvrther confirrned that they have taken appropriate steps to identify su¢h relevant information and to establish that the auditor is aware of such infomiation. The trustees. report was apFmed by the Board ofTnJstees. Thi$t•• KEHELLAND HORTICULTURAL CENTRE LIMITED STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST2025 The Iru8te&s. who are also the direclors of Kehelland Horticumural Centre Limited for the purpose of company law, are responsible for preparing the Trustees, Report and the finanaal statements in accordance WTlh appli¢8ble law and United Kingdom Accounting Standards (United Kingdom Gengrally Accepted Awounting Practice}. Company law requires the trustees lo prepare financAal statements for each ffinancial year which givg a true and fair view of the state of affairs ol the charit8bl¢ company and of the incoming resources and application of iesoui¢es, induding incom& and expenditu￿. of the charilablg ￿mPanY for that year. In preparing these financial statements. the Iwstees are required lo.. select suitable accounllng policies and then app￿ them consislenlly. - observe Ihe methods ar￿ principles in tha char￿eS SORP,. make judgements and estimates that are reasonable and PTudent', stsle whather applicable UK A¢counlng Standards have been followed, subject to any material departures disclosèd and èxplainad in the financAal slat8ments', and prepare the financial statement5 on the going ￿nCern basi$ unle$$ il is inappropriate 10 PTesume that the charitable company will ¢ontinu8 in operation. The trustees are responsible for ksoping adequate accounting recLsrds that disdose with reasonable o¢¢ura¢y at any time thè financial position of the charitable company and enable them lo ensure that the fin8ncial stslements comply Mth the Companrds Act 2006. They ara also responsible for safeguarding the assets of the charitable company and h8ne• for taking reasonable steps for the prevention and detection of fraud and other irregularities. KEHELLAND HORTICULTURAL CENTRE LIMITED INDEPENDENT AUDITOR'S REPORT TOTHE MEMBERS OF KEHELLAND HORTICULTURAL CENTRE LIMITED Oplnlon We have audited the financial statements of Kehelland Horticultural Cènlre Limrted (the 'charitable company'l for the year ended 31 August 2025 which comprise the Slalemenl of finan￿al aclivilie5. the balance sheet, the statemant of cash Ilws and notes 1 to 21 to the ffinan¢ial stslemenls, including significant accounting policies. The financial reporting framework that has been applied in their preparation 15 applicable law and United Kingdom Ac¢ounling Stsndard$, induding Financial Reporting Standard 102 Th8 Fffjnancial Reporting Standard appliGabl8 i the UK and ReptJb*'c of IrelAnd (United Kingdom Generalty Accepted A(uiunting PraGticE). In ow opinion, the financial statements.. give a tiue and fair view ol the slate of the charitable companys affairs as at 31 August 2025 and of rts incomin9 resouices and application of resources, inc4uding its incoma and èxpènditure, for the year then ended., havè boon properly prepared in accordance wth United Jfjngdom Generalty Accepted Accounting Practice.. have bw prepargd In 8￿rdance wrfl) the requirem8n18 of the Companies Act 2006. Ba¥ls lor oplnlon We conducted our audit in a¢cordan¢e with Intematlonal Stsndards on Auditing IUKI {ISAs {UlQ) and appI￿able law. Our responsibS1ilie$ under those standards ale further desciibed in the Auditorfs responwbililies for the audit of thè financtt81 stAtèménts section of our report. We are independent of the charitable company in accordance with the ethical ￿quIreMents that are relevanl lo our audit of the financAal staternents in the UK, induding the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with Ihese requir9Thents. We believe that the audit ewlence we have obtained is sufficAent and appropriate to prowdè a basis for our opink)n. Concluslons rnlatlng to golng con¢•rn In auditing the financial slalernents, we have concluded that the Irust8*$' u$¥ of the going Mn¢em basis of accounliTrJ in the preparation of the financial statements is appropriat&. Based on the work we have perform•d. we havè not identified ar7y material uncertainlie5 relating to O￿ntS or conditions that, individualty or co1￿ctiVety, may ¢a$l significant doubt on the ¢haritable company's abilty lo ¢ontinue as a going conc6m for a period ol al least Iwelve months from when the financial statements are aulhorisod for issue. Our responsibilfiies and the re8pon5ibilities of the Iruslees with respect to 90in9 concem are d•s¢ribed in tho relevant sections of this rèptsrt. Other inforn)ation The other information comprises the information inc*Jded in the anThJal report oth&r than the finaneial statements and our auditorfs report Ihereon. The trustees are responsible for the other infr)rmalion ¢OTrtained within the annua report. Our opinion on the finanaal statements does not cover the other information and, except lo the ext9nl othe￿ise explicitty Ststed in our report, we do not express any form ol assurance condusion Ihereon. Our responsibility is to read the other infomiation and, in doing so. considèr whethèr the other Infom)ation is materially inconsistent with the financial statements or our knowledgè obtainèd in thè cours* of the audit, or otherwise appears to be materially misstated. If we identify $u¢h material inconsistencies Of apparent material mis51alements. we a r•quirad to delemiine whether this gives risè to a material misstalemenl in Ihe financial statements themselves. If. based on the work we have perfomed, we ¢on¢lude that there is a material misstalemenl of thi5 other information. we are required lo rgport that fact. We have nothlng lo rew)rt In tt)is regard. KEHELLAND HORTICULTURAL CENTRE LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF KEHELLAND HORTICULTURAL CENTRE LIMITED Oplnl¢n* on oth¢r matters prescrlbed by the Cofflpaniel A¢t 2008 In our opinion, based on the work undertaken in the ¢ourse of our audrt.. Ihe infomation ghien in the trustees. report for the financial year for wh￿h the fin8n¢l81 ststements are prepared. which includes the ¢Jtredor$' raport prepared for Ihe purposes of company law, Is c4)nsislent wolh the financial slalemenls-, and Ihe direclor5' report IrKluded wknin the Iru$tees' report has been prepared in a¢¢ordan¢e wth appli¢able legal requirements. Ilatt•rs on whlch w• ar• r•quired to report by èxcep￿0￿ In the light of the knowledge afKI understanding of tha charitable company and ts ènvironmenl obt8ined In the course of the audit, we have not ￿ents"r1ed m8teriJ misstatements in the directors. report included within the tnjstees. rewt. Ve have nolhing to report in respect of the following matteT8 in relat￿￿ to whith the Companies Act 2006 roquires us lo report lo you if. in our opthiion.. adequate accounling records have not been kepl, or retums adequate for our audit have not been received ftotn bran¢hè$ not visit8d by us., or the finanLYal statements are not in agreement with the a¢counting records and relums,. or certain disiknsures of tru￿??$, remuneration specffied by law are not made., or e have not recèivgd all the information and explanations we require for our audTt," or the trustees were not entitled lo prèpare th8 financial statements in acLordance with the small companies regime and take advantage of the small companie5, exemptions in preparing the truslees. report and from the requiremènt to prapare a strategic report. R•sponsibilities ol tNStee As explained more fully in the stattm8nt of trustees. responsibilities, the Iru51ees, who a￿ also the diroctors of tho charitsble company for thè purpose of company law, are responsible for the preparati¢n of the finan Fund balances al 1 September 2024 278,272 7.762 286,034 400,017 400,017 Fund b#l#ne•a at 31 August 2025 268,908 268,908 278.272 7,762 286,034 The $tal•mènt of financial activities includes all gains and ￿$s$S raeognised in the year. The slatsment of financial xtivitles tndudes all gains and losses recognisod in th¢ ytrar. All incom8 and expenditure derive from continuing ath￿￿$. Thg statement of financial activitses also compli¢$ whh the raquiremenls for an income and expenditure under the Compani•sAd 2￿6. 11 KEHELLAND HORTICULTURAL CENTRE LIMITED BALANCE SHEET ASAf31AUGUST2025 2025 21124 Fixed a55ets Tangible as5els 12 29,412 36.061 Current a888ts stocks Dèbtors Cash at bank and in hand 13 14 23,445 58.692 218,225 22.446 75.224 233.180 300.362 330,850 Creditord: amounts falling due within one yoar 15 160.8661 (80.87TI M•t ¢urr•nt a¥sets 239.496 249.973 Total *ssets te$8 turrent liabilities 288.9)8 286.034 The funds of the charltable company Re$tricted income funds Unieslrtcted funds 18 7,762 278,272 268,908 288.908 286,034 These financial statements have been prepared in ac¢ordan¢e with the provisions applcable lo ￿rnpanIeS subject lo Ihe smajl companies regime. 16 ((frl The financtal ststements wore approved by the trustees on ... . .... DJKing Trustee Company reglslration number 01714560 IEngland and W81es) 12- KEHELLAND HORTICULTURAL CENTRE LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2025 2025 2024 Notes C••h flows from op•rating activitses Cash absorfoed by operations 16 118,7451 (112,075) vttsting aetlvltl•s Purchase of tangible fixed assets Investment income received (2.6451 3.633 3,790 Net ca8h pnoratsd from Inv•$tlng actlvltbos 3,790 988 Nel ¢ash generatsd from flnan¢lng act6vltl•8 Net decre￿• In ¢a¥h •nd ¢a$h •qulvalents 114,9551 (111.087) Cash and cash equivalents al beginning of y¥ar 233,180 344.267 Cash and cash equivalents at ènd of y•ar 218,225 233.180 13- KEHELLAND HORTICULTURAL CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGusf2025 Accounting policl•s Ch•rlty Infomiation Kehelland Horticuhural Centre ￿Mited is a prfvale o)mpany limited by guarantee inc4Jrporated in England and Wales. The registerad offic8 is Koh&lland, Cambome, Cornwall, TR14 ODD, United tfjngdom. Thè Company has no share capital. The liability of each member who has subscribed lo the cornpany's Memorandum &thcles ofAss¢e4alOon is limited irt the event of a winding up to £5. 1.1 Accounting convention The ffinan¢ial $lalem$nls have been prepared in accordance with the charitable ￿MpanY'S governing Ilocumenl, the Companies Act 2006 and "Accounting and Reporting by Chariti&s". Statement of Recommended Pr8Ctice applicable to charities pr8paring their ￿CoUnt& in aceordan¢è with the FinanGial Reporting Standard applicable in the UK and Republic of Iraland IFRS 102) {effe¢tive 1 January 20191" The chgritaNe company is a Public Benefit Enlty as defined by FRS 102. The fina￿la1 statements arè p￿p8rtrd in stewling, whith is the functional currency of the charitabl• cornpany. Monetary amounts in these financial slatsmènls are rounded lo the nearest pound slerfing. The financial slalemenls have been prepared under the historical cost convenlKJn. The principal pKcounling polioes adtspled are sel oul below. 12 Golng concern The Iru51ees have assessed the use of the going concern basis and have ¢on$idered po85ible events or c4)ndilions that might cast a significant doubl on tha ability of the chartty to continue as a going concem. The Irvstees have considered a period of at least tw8lvÈ months from the dale of approval of these finanaal statements. In particular. the Iruslees have wnsidered the charrty's available cash balances in conjuncb'on wilh expected working capital requirements and ha￿ conduded that there is a reasonable expfrctalion that the chartty has adequatè rasour¢Ès lo wnlinue in operational existence for the foreseeable fulure. The trustées arè of the view that there are no material uncertainties Ihal may creaté significanl doubt over the chatity's ability lo continue as a going coneern. The charity therefore continues to odopl goirvJ concern basi5 in preparing ils financial stalemenls. 1.3 Ch•ritsbl& fvnd$ Unrestricted fund$ are available for use al the discretM of the Iruslees in furtherance of their ehaiitable obleclSvgS. RestrKted funds are subject lo $peafi¢ condrflons by donors as lo h¢)w they may be used. The purposas and uses of the restricted funds are Set out In the notes lo the llnanclal slalements. 1A Income In¢ome is re¢ognised when the charitable company is legally entitled to it aftw any perfomiance conditions have been mel, the amounts can be measured reliably, and it is probatle that incomfr will be received. Cash donations are recognlsed on re￿ipl. Other donations are recognised On￿ the charitable company has been notified of tho donation. unless performance conditions require deferral of the amount. Income tax rècoverable in rèlation to donation8 received under Gift Aid or deeds of covenant is recognised al the ￿rne of the donation. Lèg8eiès arè recognised on receipt or otherwise if the charitable company has been notffied of an impending disltlbution, the 8mounl is knowrb, and receipt is expected. If the amount is not known. the legacy is treated as a contingent asset. 14- KEHELLAND HORTICULTURAL CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 A¢¢ountlny poll¢l•s IContinu¢dl Grant income is recoynised when the charity has enlillement to the fund8. any performance conditions attJcheLI to the grant have been mel. it 1$ probable thal the incorne will be received and the amount can be measured reliabty. Tradkny Income is recognlsed when tho goods or sgmces have been provided, typically al the point of sale, or as services are perform*d. Int￿e$l Income Is recognlsed usSng Ihe effe¢live interest rale rnelhod. 1.5 Exp•ndltuM Expenditwe is recognised orKe there is a legal Qr constructive obligation lo transfer e¢r)nomic benefit to a third party, li is probabl& that a transfer ot econc*mic benefits will be required In settlement, and the amount of the obligation can bè measuT8d reliably. Expenditure Is ¢lasslf4ed by acbvbiy. The ¢o$ts of each actwity are made up of the total of direct costs and shared costs. including Support eosts involved in undertaking each activity. Direct costs attributable lo a Single activty are allocated diieclly lo that acti￿ty. Shared costs which contribule lo more Ihan one activity and $upport costs which are ￿1 attributable to 8 single activity are apportion8d b8hYe•n thos8 activities on a basis consistent with the use of resources. Central stsff ¢osts 8re allocated on the basis of time spent. and depr8cSation charges are allocated cffl the portion of the assefs use. Expendrture is accAwnted for on an accruals basis and has been dassffied under headings that ag9regate 011 cosls related to the calegory. lthere costs cannot be direclly altribuled to parti¢ular heading$ Ihgy have b99n allo¢ated to activities on a basis consistent with the use of ￿SourCeS. The charity is partial￿ exempl for VAT pvrpos8s due lo the nature of ils inc¢ming resour¢e$. On a quarterfy basi5 the VAT 1$ attributèd lo the expenses to whith it originated frorn. 1.6 Tangible fixed as59ts Tangible fixed assets are initialty measured at cost and sUbSequerrt￿ measur9d at cosl, not ¢)f depreCiat￿n and any impaimiènl losses. Deprg¢ialion is recognised 50 as to write off the cost of asse15 ￿5$ their rg$idual valu9$ Over their useful livgs on thè folowing bases.. Improvemenls to 18asehold property Fixtures and fittings Office equipment Motor vehiths Payments to provi&tsns of assets Stsaighl line 200A straight line 20% straight line 200/• slr8ighl lin$ 20OA straight line The gain or1055 arising on the disFX)sal of an ass￿ is d•t8rmined as the difference be￿een the sale proceeds and the carrying value of the asset. and Is re¢ognised in the statement ol financAal activities. 1.7 Impairment of fixed a55ets At each reporting end date, Charitab￿ company reviews the carrying amo)unts of 115 tangible assets to determine whèthèr thère is any indication that those a55ets have Suffered an irnpairment loss. N any such indication exists, the recoverablè amount of the asset is estimated in order lo delermir)e the extent of Ihg impairment Ios51rf any). 15- KEHELLAND HORTICULTURAL CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 Accounting po&'cies Contlnued 1.8 stock8 stocks are stated 81 the lower of cost and estimated selling pric8 18ss costs lo eomplets and sell. Cost comprises direct materials and, where applicable, direct labour costs and those ovetheads Ihal have been incU￿ed in bringing the stocks lo their present location and ¢ondIt￿n. Items held lor distribution at no or nominal consideration are measured the lower of repla¢ement cost and cost. 1.9 Financial instruments Thè ¢haritable company has elected lo apply the provisions of Section 11 '8asic Financial Instruments, #nd Sectlon 12 '01her Flnan¢Oal Instruments Issues, of FRS 102 to all of rts finanaal instruments. Finan￿al in5truMenls are recognised in the charitable companls balance sh8•1 whén th• ¢harit4ble company becomes party to the contractual provisions of the inslrumenl. Financi81 assets and liabilities are offset. with thè 8mrJunts presented in the fnawal Statements, vth•n there is a legally enforcAable right to set off the recognisèd amounts and the￿ i% an intention to settle on a net basis or to realise the assèl and setue the Irdbilty $imultaneousty. Basi¢ f￿ancIalaSsOts Basic finanoal assats, whSch indud8 debtors, e2sh and bank balances. ara initialty m8a6ured at tran8acllon price including transaction ¢osls and are $ubsequendy carTied al amortised cost using the effeclive intere51 method unless the airangemeTrt constitutes a financing transaction, where the transaction is measured al the P￿sent value of the fvluro receipts discounted at a market rale of interest. Financial assats dasyfied as Teceivable within one year are not amortise¢J. Basic financial liabilities Basic fjnancial liabilrties, including creditors and bank loans are In￿la1￿ recognlsed at transadon price unless the arrangement constilules a financing transaction. where the debt inslrum&nt is measured 81 th8 pr858nt value of Ihe future paymenls discountad at a martet rots of interest. Flnancial liabl11￿$ class(Iled as payable wilhin one yoar ar8 not amortised. Debt instruments are $ubsgquenlly carrled at aMor￿Sed cost, usbng the effective interest Tale method. Tr8de creditors are obligalion8 to pay foT goods or servi￿¥ that have teen acquired in the ordinary course ol operations from suppliers. Amount$ payable are cla55ified as current liabilities rf payment is due within one year or less. 11 not, they are presented as norpcurrent liabilitie5. Trade crediLors are recognisèd initially at transacllon prf¢e and Subsequent￿ measured at amortised cost using the effective interest mèthod. Derecognltlon of flnanclal Ilabllltles Financial liabilities 8Te derecognised when the charitable companls contractual obligations expire or are dlscharged or cancelled. 1.10 Taxafjon The Charity Is exempl from c¢rporalion tax on 115 charitable activrlies. 1.11 R•tirement benefits Payments to defined ¢Mlribulioft ￿tirement benerrt schemes are charged as an 8x￿ns• as Ihey fall due. 16- KEHELLAND HORTICULTURAL CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 InGome from donatlons and hg4¢i•¥ Unr•strlcted R•strlctsd funds fund¥ 202S 2023 Total Unrestricted Re5trithd funds funds 2024 2024 Total 2028 2024 DonatKins and gffts Govemment grants 4,274 4.274 4,627 508 4.627 16,881 16,373 4.274 4,274 5,135 16,373 21,508 Charltablg activiti•s Pevsoml Educatlon PH¥onwl Budgots 2024 E￿￿#t1011 Incorne 2024 To1•1 2025 2026 2025 Adult social care 545.620 847.910 1.393,530 419,776 845,275 1.265,051 Income from olher trading a¢tiviti•¥ Unrestricted Unrestrictsd funds fund¥ 2025 2024 KTtchen income Shop in¢omo Lettings income 30,199 140,778 21.071 18,820 135,665 21,413 other trading actwilies 192,048 175,898 Income from inve¥tm¢nts Unrestricted Unrestri¢itd funds fund$ 2026 2024 Intèrest receivable 3,790 3,633 17- KEHELLAND HORTICULTURAL CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 Other Income Totsl Unrnstrictgd funds 2025 2024 Insurance daim 15.OCKI Charltrbh a¢tlvltles Staff costs Stsff ¢osts and charltable ¢h*rltablo •xp•ndlturn expenditurn 2025 2024 Staff costs DepreLa#llon Ratès and water Insurance Light and heat Telephone Postage and ststionèry Advertising Travel and subsistence Motor expenses Rent Uniform and proteth've dolhing Repairs and renewals Cleaning and laundry Staff training Professic¥n81 fees Dan¢e and othei activities other charTtable ex￿nditur 1.275,172 1,218,682 6,649 6.899 2,234 1,828 9,948 18.229 3,500 5,288 710 56 7,409 16,344 3,365 4,487 610 14 7,584 11 26,799 1.781 16.500 6.151 2.420 9,019 8.773 25,088 16,742 33,529 5,981 4,675 17.216 8,757 31,535 1.425,726 1,389.842 Share of support costs (see note 81 Share of govemanc• costs (see nole 81 11.760 20.270 13,072 27,300 1,457,756 1.430,214 18- KEHELLAND HORTICULTURAL CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Support ¢osts Support Govemance ¢o$ts costs 2025 Support Goveman¢• costs costs 2024 Bank charges IT 5UPPOrt and broadband Payroll senrices Other Inte￿$t payable 2.595 2,595 3,308 3,308 7,250 1,784 131 7.250 1,784 131 7,301 2,463 7.301 2,483 Audit fees Acoyjntancy 17.950 2,320 17,950 2,320 16,800 10.500 16,800 10,500 11.760 20,270 32,030 13,072 27,300 40,372 Analysed b8tsyeen Charilable ￿tIvitIeS 11.760 20,270 32,030 13,072 27,300 40,372 Support C0515 are not attributablè to a sir￿* activity but rather provide the organisalional infra$trLKture that enables output activities to 18ke plar*. Trusts•s During Ihtt y08r the tru$t¥* S L Pyner received a salary of £36,819 12024.. £34,858) in respect of her employment a8 the Horticulluf81 Coofillnalor. During the financKIl year S Pyner, spouse of SaW Pyn8r Ilwstee). was employed by the charity and was paid o gross salary of £1,57212024' £1,553). Other than the above, none of the trustees (or any persons connected with thernl received any remunei81ion or benefits from the thatitabl& company during the year12024.' r￿ne1. 10 Employees The average Month￿ number of empbyeos during the yèar was". 2025 Mumbet 2024 Nvmbèr 75 72 Employment ¢o¥i¥ 2025 2024 Wages and salaries Social secuity c051s Other pension costs Id¢fined contribulions plans) 1,170,932 74,194 30.046 1,121,873 68,654 28,155 1.275.172 1,218,882 KEHELLAND HORTICULTURAL CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGusf 2025 10 Employ•e¥ (Continu•dl There were no employees whose annual rèmuneralh)n w8s more than £60.￿O121724.. none)- Rémunèratlon of kty management personnel The remuneration of key management personnel was as follows.. 2025 2024 Aggregate compensatlon 204.801 161,396 11 Taxation Th¥ ¢h8rty is ex•mpl from lax on in¢ome and 98ins f¥lling ￿1th1￿ $¢thn 505 of the Taxes Act 1988 01 section 252 of the Taxation of Chargeablè Gains Act 1992 to the extent that these ￿ applied lo fts d)arrtable objects. 12 T*ngibltt fjxèd ￿$*￿ lrnprov•monts Flxtur•s and to1oa$ghold Itttln9$ proporty hlotor PayrnBnts to v8hldos provlslon¥ ol Total oqulpment Co$t At 1 September 2024 152,464 18.327 6.811 34,980 8.861 221,443 AI 31 August 2025 152,464 18.327 6,811 34,980 8,861 221.443 Oepreciation and impalmiFJnt At 1 Septèmbèr 2024 D*pr8ciation chargod in the yèar 120,523 15.230 5,788 34,980 8.861 185,382 1,474 509 6,649 Al 31 August 2025 125.189 16.704 6,297 34,980 6.861 1¥2,031 Carylng amount At 31 August 2025 27,275 1,623 514 29,412 At 31 August 2024 31,941 3,097 1,023 3fj,￿l Payments for Provision of Ass•ts il Pre 1 April 1985 In order that the company may have the use of assets at a cost exduding VAT, c*rtain assèts were purchased by Cornwall CouncAI utilising funds raised by the Company. Although the title of these assets rgmains with Comwall Council, the Company understands that the Council will pem)it the assets to be treated as though thè tille vested with the Company. ill Post 1 Apvil 1985 From l April 1985, when the Company registered for VAT purposes, all assets havo bggn purchased ihrough the company 8nd title iests with the wmpany. 20- KEHELLAND HORTICULTURAL CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 13 Stocks 2025 1024 Finished goc#Js and good8 for resalg 23,445 22,446 14 D•btors 2025 2024 AmouDts f•lling due wlthSn one year: Trade dobtors Prepayments and ÈttruÈd incomè 53,252 5.440 43,041 32,183 58,692 75,224 15 Crndltor8: amounts falllng dug within on9 y•ar 2025 2024 Other taxation and social se￿rity Trade creditors Other creditors Ac¢n*l$ and defèrrad income 22,993 9.012 6,815 22,1146 23,683 22,310 10,242 24,642 80,866 80.877 16 Cash genera¢•d from op•r4Uons 2025 2024 D¢fial for the y¥ar (17,126) 1113,983) Adjustments for.. Inveslrnènl in￿)Ma rècognisèd in statement of financial activitie$ D&pie(¥atv)n 8nd impairmerbl of tangible fixed assets 13,790) 6,649 {3,633) 6,899 Movements in working capital.. Ilncreasellde¢rea$e in stocks De¢reasellincrease} in dobtors IOeer•asèlAncr•ase in creditors {999) 16,532 120,011) 71 113.886) 12.457 Cash absofb•d by opeT•tion4 118,745) (112,075) 17 Analysis of Change$ in n•t fvnds The ¢har6tsble company had no material debt during Ihp ￿r. 21 KEHELLAND HORTICULTURAL CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 18 Restsleted funds The reslricled funds of the charity compris& the unexpended balan¢e$ of donation$ and grant$ held on trust subject to specific conditi'ons by donors as to how they may bè used. At1 S•pt•mb•r 2024 Incoming ourct8 ResOu￿e5 oxpended Tramfers At 31 Augu•t 2025 Grth￿h Hub grant 7,762 17,6601 {1021 Prnviou¥ y¥ar: Atl Stptsmber 2023 Incoming resources R•sourc•s axpènd•d Transf•rs At 31 August 2024 Growth Hub grant 16.373 {8.611} 7,762 Growth Hub Grant- In Order lo address the pressures on space on our srte al Kehelland, we 10¢8ted a ILxYn ¢enlre shop sile in Camborne for our sales operations. This allowed us to apply for a grant from thé Comw811 and Isles ol SrAIty Growth Hub lo assist us with developments in town and fund much needed infrastructure improvements on sile. The grant. which we were required lo malch-fijnd, allowéd bgtter ¢Jigital & physical access in the shop in Cambome,. it covered the cost of our new Electronic Point of Sales System, disabled access lift. kitchen & accessible toi18t. The grant also part fvnded pmiding powgl and WFI to our onsite shop. 19 Analy¥i¥ of net a￿ets belween funds UnM$trlcted funds 2025 TotAI funds 2025 1025 At 31 August 2025: Tangible a55els Cuff￿nI asselsllliabililiesl 29,412 239,496 29.412 239.496 268,908 268,908 Unrnstri¢tsd funds 2024 Restrictsd funds 2024 Total 2024 At 31 August 2024: Tangible assets Current assetsllliabililles} 36.061 242,211 36,{￿1 249.973 7.762 278,272 7.762 286,034 -22- KEHELLAND HORTICULTURAL CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 20 Oporntlng lease commitments At the reporting end date Ihe charitable company had oulslanding ￿)MmItm￿nIS lor fuiuré minimum lease payments under non-¢ancellabk operating leases, which fall due as follows.. 2025 2024 I￿"n one year Between Iwo and fiv• y8ars 8,642 20,600 8,842 8,642 29,242 21 Related p•rty tr•n$#¢tlon$ Trnn$a¢tlons wlth rnlat•d parties Durin9 the year the charitable company ente￿d into tha follow￿9 transactions with related parties.. During lh8 périod. £91 was invoiced lo Resi1￿nt Orchard Comwall CIC {2024.' expendiluie incurred of £4801. 8 CIC in which Saly Pyner Itrusteel is a director. There was no outstaThJing balartt at the year end12024'. £ndl. -23-