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2022-03-31-accounts

,SP,ITALFIFIDS ESTD1978 cITY,FAKMMrf ANNUAL REPDftT -4ACSDUNTS QOQI-Q

contenTs

INTRODUCTION
Report of the Trustees 3
ANNUAL REVIEW 4
Chair's report 5
Animal welfare 6
Education, children and young people 8
Volunteer team challenge 10
Horticulture 12
Events 14
Partnerships 16
Our year in numbers 18
REPORT AND ACCOUNTS 19
Report of the Trustees continued 20
Independent Examiner's Report 24
Statement of Financial Activities 25
Statement of Financial Position 26
Notes to the Financial Statements 28
Detailed Statement of
Financial Activities 38 
2

RePORT oF tHe trUSteeS FOR tHe YeAr enDeD 31 MaRcH 2022

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 2022. 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 aims

The principal activity of the charity in the year under review was that of running an inner-city farm for the benefit of the inhabitants of Spitalfields and the surrounding neighbourhood by utilising its facilities to provide education and volunteering activities for the community.

Public benefit

The Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charities Commission in determining the activities undertaken by the Charity. 

Continues on p20

3

annUal review

'tHe SUpPORT For OUr mUcH-loved SPace HAS SHOne THrougH in THe Strong engAgement in OUr Services and THe new OPportunitieS and pArtnersHips THat HAve eMeRged.' 

4

cHAiR'S RePORT

'tHe work OF OUr volUnteers and StaFF HAS been a real Stand OUT OveR THe pASt yeaR and HAS been TRuly aPpReciATed bY THe comMunity.'

The Farm has emerged from the global pandemic stronger and with renewed vision and energy. The year was not without its challenges, with the roller coaster of Covid numbers and changing restrictions requiring the team to be flexible and agile to the ever-changing situation. The Farm has remained focused on the community and has continued to deliver for those most in need during a difficult time. 

As restrictions lifted, the
farm grasped the opportunity
to reconnect with people
in person, opening the
farm quickly, rekindling
longstanding relationships
and developing exciting
new ones. The support for
our much-loved space has
shone through in the strong
engagement in our services
and the new opportunities
and partnerships that
have emerged.

The work of our volunteers
and staff has been a real
stand out over the past
year and has been truly
appreciated by the community.
The gardens have been an
absolute delight, providing
a welcome sanctuary and
productively delivering
much needed healthy food
and inspiration. The
animals have brought joy
and connection both on the
farm and more broadly via
our mobile farms. Through
hard work and thoughtful
improvements, the land
entrusted to us has been

'tHe StaFF, TRusTees and volUnteers collabORateD On THe developMenT OF a cleArer aRTicUlATiOn OF OUr viSiOn and StrATegY To deliver For THe comMunity.'

significantly enhanced and has been enjoyed by many. 

The staff, trustees and
volunteers collaborated
on the development of a
clearer articulation of
our vision and strategy to
deliver for the community.
It has been built on the
heritage of the farm,
creating a space for all,
that empowers people to make
a positive change to their
lives, our community, and
the planet.

The Farm’s impact has seen
strong endorsement from
our community, funders,
and local authorities with
the development of exciting
projects, such as the
planned new community garden
and site improvements which
will amplify our impact for
years to come.

Neil Rodel,
Chair of Trustees

5

aniMal welFaRe

"tHe cHildRen reallY enjoyed leaRning abOUT an aspect OF mAnUFActuRing and HiStORy THat THeY’d never encounTered beFore and all OF THe StaFF were more THan HApPy To anSweR THeir qUesTiOnS. spiTAlFielDS city FaRm is a FAntasTic reSouRce For OUr pUpils … wORksHops SUcH as THis One reallY HelP To bROAden THeir experienceS and enricHes THeir leaRning at ScHoOl." Teacher, St Anne's Primary School 

6

aniMal welFaRe

'AnimAl cAre and welFaRe is at THe HeaRT OF eveRytHing we do, as a reSPecTed, and an inFluentiAl ORgAniSATiOn spiTAlFielDS FaRm is comMitTed To aDOPTing new SMall aniMalS FROM repUTAble reScue centreS, using aPpROPriate, HealTHy aniMalS On SiTe and in aniMal OUTReAcH pROjecTs.' 

April 2021 was welcomed
with easing government
restrictions, being able
to welcome the community
and regular volunteers
back to the farmyard. Holmes
the pig in particularly
enjoyed the attention of
returning visitors.

Schools were keen to book tour mobile farm service in lieu of restrictions on usual field trips. Of the 23 mobile farms we delivered in this period. 12 were to Primary Schools, 7 churches, 2 community centres, 1 synagogue, 1 nursery. These supported the farmyard income by over £10,000

In June 2021 our cherished farm van broke down beyond reasonable repair. To maintain our service delivery a rental van was used during the remainder of the year, and a partnership with Hackney City farm has supported us in 2022. These have come with their own financial and logistical 

challenges which have impacted
our ability to provide outreach
at its full potential. Securing
funds for a new vehicle is high
on the farmyard wish list.

The Farm's partnership with
City Harvest, the food waste
charity, grew to include
receiving generous donations
of cat, guinea pig, poultry,
and rabbit food. Donations
during this period are
estimated to have saved over
£1500 in animal feed costs.
Further Donations from Lily's
Kitchen and Amazon wish list
donors have contributed
over £400 of animal feed and
equipment. At a time when
feed and veterinary costs
are increasing these are
gratefully received.

Animal care and welfare is at the heart of everything we do, as a respected, and an influential organisation Spitalfields City Farm is committed to adopting new small animals from reputable 

rescue centres, using
appropriate, healthy animals
on site and in animal outreach
projects.

The Farm adopted six new
guinea pigs from Wood Green
Animal Shelter during 2021.
We welcomed Daisy, Rose,
Calendula, Lily, Mapel, and
Pumpkin as new residents
to the popular Guinea Pig
Village. Our animals help us
to educate and increase
awareness of the health and
welfare issues for pets
and food producing animals.

Thanks to the long-standing
support from the Worshipful
Company of Woolmen we were
able to offer free education
sessions to two groups from a
local primary school. This was a
change to our usual open event,
adhering to limitations on
social gatherings in June 2021.
It was such a success that we
hope to replicate the style of
the event next year to include
more schools and activities.

7

edUcATiOn, cHildRen & young peOPle

"tHe acTiviTies were boTH eDucationAl and FUn. tHe StaFF delivered all acTiviTies To a HigH level. iT wAS verY inSPiRing For THe cHildRen To leaRn To coOk FROM ScrATcH using FResH ingReDientS FROM THe FArM. tHAnk you!" Farm 2 Fork Summer 2021, Parent 

8

edUcATiOn, cHildRen & young peOPle

It has been a challenging year for the education sector as a whole and this has been felt at the Farm. Covid has impacted our work with schools, restriction on movement and schools' difficulties with staffing, have meant we have not been able to welcome as many children to the farm as we would have wanted. 

During this time, we focused
our educational programme to
work with those most local
to the farm, with the aim
of strengthening already
existing partnerships within
our community and engaging as
many children, young people
and families as possible in
sustained and varied ways.

In May 2021 we welcomed a new Educational Coordinator to reestablish the Farms children and young people's programme after Covid and help design an educational offer in line with a developing an overarching farm strategy to be implemented over next three to five years.

With the easing of restrictions, our priority was to continue working with the two primary schools closest to the Farm, St Annes and Thomas Buxton, delivering weekly growing sessions, transforming dedicated growing spaces on the school grounds, into flourishing vegetable gardens. 

Next, we began to welcome
school groups back to the farm
for one off self-directed
visits, guided tours and
workshops. As well as our
weekly 1:1 work experience
sessions with Phoenix Special
Educational Needs (SEN)
students and weekly whole class
visits from Lyceum School.

We put a large focus on
working with local children
and families and the summer
holidays were the perfect
opportunity to welcome them
back to the farm. Having spent
the last 18 months inside,
we delivered a jam packed and
varied programme for all ages

to encourage people to get
outside again. Incorporating
all aspects of farming, food,
nature, and the outdoors,
we delivered weekly cooking
workshops, forest school
activities, opportunities to
interact with the animals and
help care for our gardens.
Storytelling, nature centred
arts and craft activities and
workshops focusing on ecology

also featured heavily. After
a hard year it was great to
see children back at the Farm
and many families attending
multiple events, returning
for our October and February
half term activities.

ACHIEVEMENTS

[110 hours of outdoor ] education, to over 1,500 children, from 30 schools

[Formed new relationships ] with Tower Hamlets Young Carers group, Museum of London and Hugh Myddelton Primary School.

[Piloted a Sheep & Wool Fair ] with 50 students from St Annes Primary School, teaching them about the process of wool from sheep to fabric, supporting curriculum learning about materials. Due to its success this will be a yearly event.

[Provided over 25 hours of ] work experience for young people with special educational needs.

[Delivered 48 hours of food ] workshops during the school holidays, providing 135 meals for local children and families 

9

volUnteer TeaM cHallenges

'AFteR mAnY montHs OF remoTe working, it wAS a joy FAciliTATing eMplOYeeS To meet eAcH OtHer in persOn in a SAFe and enjoyAble wAy.' 

10

volUnteer TeaM cHallenges

The Farm adopts a social
enterprise model to help
generate much needed income.
Part of our strategy includes
leading paid volunteering
days for organisations to
help raise funds to subsidise
our educational and community
programmes, and the running
costs of the Farm. These
team building days are also
integral in supporting us to
maintain our 1.3 acre site.

As the lockdown restrictions eased in early summer, we began welcoming Team Challenge groups back to the Farm. After many long months with people sporting wild pandemic hairstyles, the gardens were equally in need of some serious pruning and weeding. The first to attend were twenty enthusiastic staff and students from the American School in London, who embraced the tasks and were rewarded with a session of donkey grooming. 

As we moved into the warmer
months, it was fantastic
to see familiar faces and
companies, including FSCS,
Ascential, Sompo, Nomura,
Equistone, Samsara, and
Peel Hunt among others.
The teams repaired picnic
benches, painted fences,
weeded and woodchipped
pathways, harvested crops,
bagged up manure, mucked out
the stables and generally
spruced up the Farm. We also
continued working with the
East London Business Alliance
(ELBA), who organised a
family volunteering day
with Standard Chartered where
the kids took charge digging
out the muck heap!

In September, it was all
hands on deck to lead our
largest ever Challenge Day
with 70 volunteers from The
Wise Group. The organisers had
requested something special,
so we took Bayleaf the
donkey to collect them from
a conference centre on Brick

Lane and walk them back to the
Farm. They helped us thoroughly
sweep and weed the cobbled
roads, scrub the Tree House,
manure the raised beds and
prepare the Farm for autumn.

Momentum continued through until early December, including a flurry of bookings from our longstanding partners Salesforce once they were given the green light to resume in-person volunteering. Following a winter’s hibernation, Challenges began picking up again in March ready for the year ahead.

ACHIEVEMENTS

[After many months of remote ] working, it was a joy facilitating employees to meet each other in person in a safe and enjoyable way.

[We formed new relationships ] with companies including IFF Research, The Worshipful Company of Actuaries, ISG, And Digital, AIG, Talbot, FNZ, Starling Bank, Newable and RG Construction.

[We successfully hosted our ] largest Team Challenge Day.

[We recruited and trained ] three of our Farm volunteers to lead paid Team Challenges sessions.

[Overall, we welcomed 43 ] teams and over 650 individuals – who have given 2,503 hours of volunteering to help us manage and improve the Farm for the benefit of the community. 

11

HORTicUltuRe

'we continued To gROw in all gArDen SPaces and reTUrn THeir conDition To THe HigH StandArD we mAinTAineD pRe pAnDeMic.' 

12

HORTicUltuRe

This year saw a slow return to
‘normality’ as volunteers and
staff returned to help with
the gardens. We continued to
grow in all garden spaces and
return their condition to the
high standard we maintained
pre pandemic. We also worked
hard to broaden the range
of produce we grow to be
inclusive of as many different
cultures as possible.

Lutfun, our Bangladeshi
gardener returned from
furlough and resumed growing
world food for the local
community with the intention
to restart our famous

‘Coriander Club’ as soon as volunteers developed confidence to return. 

In October 2021, the Farm
successfully bid for funding
to create a new community
garden on a piece of underused
land that abuts the main gate.
Work on this project began
in January with two public
consultation days to ensure

the garden is truly in step
with community needs.

The Farm also put together
a proposal and won funding
to establish a food forest
of perennial crops in a wild
area of the garden. We added
trees, shrubs, herbs and
perennials to a space that was
already planted with a small
number of old fruit trees to
show our visitors new ways to
grow edible produce, whilst
increasing plant and animal
diversity. This project will
continue developing in year
2022/23.

As pandemic restrictions lifted, a solid and fairly reliable group of garden volunteers was formed who have mostly continued to work with us. On occasion we include special needs volunteers working alongside this group, which benefits all. 

Corporate volunteers have
returned in good numbers and

often ask specifically for garden projects. This has been particularly helpful in clearing up after 

unavoidable pandemic neglect
and in the preparation of the
food forest area.

Along with fresh produce
we continued to develop a
range of preserves, pickles,
cordials and other edible
products to sell in the farm
shop. We intend to develop
the farm brand further in the
next year.

ACHIEVEMENTS

 Secured funding from the
Mayor of London’s (GLA) Grow
Back Greener Fund to create
new community garden space.

 £2,000 funding to create
educational forest garden
from Abrdn and other partners

 Expansion of crop range to
show edibles for harvesting
365 days per year. Including
new vegetables never before
grown at the farm.

 We won best bouquet in the
London Farm Harvest Festival
Show and were runners up
in best seasonal display
of vegetables

13

evenTs

'nOt OnlY is venUe Hire an iMportanT SouRce OF income For THe FaRm, it alSo giveS us THe OPportunity To SHaRe OUr glORious gArDenS and aniMalS and SHOwcASe THe wonDeRFUl work THat we do. ' 

14

evenTs

We were thrilled to finally open up our beautiful site for events again. Alongside a busy stream of children’s birthday parties, we hosted two weddings where we transformed the Farm into a veritable fairytale.

Over the summer months, Nest Collective returned to running their magical Campfire Club, with an eclectic line up of folk and world musicians taking the stage. The global gig organisers Sofar Sounds also got in on the outdoor music action for one of their events. 

In August, the national
disability charity Sense
took over the tents and
gardens for their fantastic
Thrive festival, creating a
safe and joyful celebration
for the young people they
support, many of whom had
been shielding throughout
the pandemic.

We had a multisensory evening, beginning with a mindful yoga session led by our long-time farm friend Luisa Demant, followed by a light meal in the Community Garden surrounded by sunflowers and a natural wine tasting session with Fernando from Otros Vinos.

Mike’s Table ran two supper clubs creating delicious menus using surplus food supplied by City Harvest. The first event was ticketed which funded the second evening for our community partners. As well as these private events, the Farm also received funding from the council to host two free supper gatherings: the first aimed at staff and volunteers and the second for local residents and partners. Simone who runs The Rosebery Tea Hut did the catering, treating us all to gorgeous Goan fish and vegetarian curries using fresh Farm produce. 

Not only is venue hire an
important source of income
for the Farm, it also gives
us the opportunity to share

our glorious gardens and
animals and showcase the
wonderful work that we do.

15

pArtnersHips

'Due To OUr gReAT working relATiOnSHiP, One OF OUr ScHoOl’S ‘SPOnSor a ponD’ SPOnSorsHips FUnDeD THe reStORation and volUnteer workdAys On THe grASs PatH POnd in 2021.' 

16

PaRTneRSHiPS

The London team of Froglife, a
national wildlife conservation
charity, have been based at
the Farm for the past 4 years.

Froglife’s relationship with the farm began with a successful joint bid for pond management volunteer sessions from Awards for All back in 2017, plus the creation of the great crested newt mural (found near the gate to the farmyard). After this successful project, Froglife’s London team moved into the farm office and Spitalfields City Farm became Froglife’s London base of operations from January 2018 until March 2022. 

During this time the London
Tails of Amphibian Discovery
(T.O.A.D) project, funded by
the National Lottery Heritage
Fund, engaged 96,650 people
in just under 400 activities.
Educational activities that
ranged from converting leisure
centre swimming pools into
‘ponds’ to leading drama

workshops in schools to teach about threats to amphibians. Some of these activities took place at the farm, including the creation and subsequent tour of the Toad Tapestry in which local farm patrons added their own creative flair to represent Tower Hamlets and pop-up virtual reality stands at the farm’s major events like the Goat Race and Open Farms weekend.

If you are a regular visitor to the farm, I’d suggest you take a brief pause at the pond on the pathway up the teahut and watch for the life under the surface, and then explore the rest of the farm to find the other ponds or areas that have been made for wildlife to thrive. Spitalfields City Farm is a special place for wildlife, a green and natural oasis for many species to call home, nestled between a very built-up urban area. For Froglife’s target species, the farm is ideal. You can find Common Frogs, Smooth Newts, Great Crested Newts and occasionally Common Toads on site, ranging from the community garden all the way up the compost heaps. Great Crested Newts2 are a European Protected Species, meaning there is additional legislation given to them to protect them from declining further across Europe, and this is significant for the Farm as they are rarer in

urban areas so it really is a special animal to find in their ponds.

Due to our great working relationship, one of our school’s ‘sponsor a pond’ sponsorships funded the restoration and volunteer workdays on the Grass Path Pond in 2021. In addition to this, it has been wonderful to work with the volunteers and work experience students and share some of the wildlife gems we would find on site or at the ponds.

The partnership has been wonderful and the farm staff (and office cats, of course) have certainly felt like an extended team to the Froglife London team, so it has been sad to say goodbye. Froglife will still be active in London, but for the next project mainly focusing on areas south of the river, so we will make sure to pop by when we can! 

17

SPitalFields ciTY FArM in nUmbeRS

43 TeaMS welcOMeD and OveR 650 individUalS – wHO HAve given 2,503 HouRS OF volUnteering

110 HouRS OF OUTDOor eDucation, To OveR 1,500 cHildRen, FROM 30 ScHoOlS

4 yeaRS as bASe For THe experience For young peOPle 25 HouRS OF work lonDOn TeaM OF FROgliFe wiTH SPeciAl eDucationAl neeDS

365 dAys a yeaR HArvesTing poSsible THrougH OUr newly-expAnDeD cROP rAnges

48 HouRS OF workSHOPS dUring THe ScHoOl HolidAys, pROviDing 135 mealS For locAl cHildRen and FAmilies

£1,900 in aniMal FeeD and equipMenT coStS esTimATed To HAve been SAved TROUgH donATiOnS

23 mobile FArM Services delivered SUpPORTed THe FArMyArD income bY OveR £10,000 

18

RePORT oF tHe trUSteeS continued and FinAnciAl report and accounTs

19

RePORT oF tHe trUSteeS continued FOR tHe YeAr enDeD 31 MaRcH 2022

FinAnciAl review

RESULTS FOR THE YEAR FINANCIAL REVIEW

The result for the year
ended 31 March 2022 was a
surplus of £23,765 (2021:
surplus £112,692).

INCOME

Total income for the year amounted to £267,595 (2021: £321,460) The Farm was heavily reliant on grant income for this financial year, with 50% coming from grants. As the impact of the pandemic eases, we are hoping to significantly reduce this and return to more varied lines of income.

EXPENDITURE

Total expenditure for the
year was £243,830 (2021:
£208,768).

FUNDS

The Farm's funds at 31
March 2022 amounted to
£236,175 (2021: £212,410),
of which £134,954 (2021:
£128,908) was unrestricted
funds and £101,221(2021:
£83,502) is restricted.

GRANTS AND DONATIONS

Thank you to the following
funders who generously
supported our work over
the year.

London Borough of Tower Hamlets; Jack Petchey Foundation; Tower Hill Trust; Wakefield + Tetley Trust; Ince Group Charitable Foundation; Allen + Overy Charitable Foundation; CMS Social Investment Fund; East End Community Foundation; Worshipful Company of Horner's Charity Fund; Worshipful Company of Actuaries; Worshipful Company of Accountants; Worshipful Company of Parish Clerks; Worshipful Company of Insurers; Worshipful Company of Woolmen; The Guild of Freeman of the City of London; The Childhood Trust; Arnold Clark Community Fund; Abrdn Asset Management; The Childhood Trust; Greater London Authority (Grow Back Greener Fund). 

Thank you to the companies
who either attended our
team challenge volunteering
programme in person, or
who supported the Farm
by making donations
or pre-paid for future
volunteering days.

American School in London;
FSCS; Nomura; Sompo;
Ascential; Standard
Charter; Sitecore;
Equistone; Samsara; Peel
Hunt; ISG; IFF; AND
Digital; Nurven; Talbot
Underwriting; Nomura; Ince;
Habito; RG Construction;
Abrdn; Newable; FNZ;
Starling Bank.

Thank you to the companies
who donated to our
successful 'Champions
for Children' online
fundraising campaign;
dropped coins into our
donation boxes; used
the contactless donation
machine; contributed via
payroll giving; held a
children's party or an
event at the Farm; bought
our produce or something
from the shop.

INVESTMENTS

The Farm does not hold any
investments.

RESERVES POLICY

Unrestricted reserves at March 31 2022 were £134,954 (2021: £87,513). The Farm's Trustees and management will consider the level of reserves that is prudent for Spitalfields City Farm to have when agreeing an annual budget. Consideration will be given to future strategy, potential redundancy liabilities, and any other significant factors that should be taken into account were the Farm to close. The specific reserves policy including any designation of reserves for specific purposes will be agreed by trustees on an annual basis. The trustees of Spitalfields City Farm will keep these financial controls under review. 

20

RePORT oF tHe trUSteeS FOR tHe YeAr enDeD 31 MaRcH 2022

FutuRe PlAns

This year we developed a
new strategy which presents
a vision for the Farm and
our services for the period
2022 to 2025. It outlines
our aims, objectives and
priorities. It was the
culmination of a period
of consultation with our
staff, volunteers and
trustees during 2021, the
purpose of which was to
create a shared vision
of how our city farm can
better serve the local
community, visitors and
other stakeholders: A
common vision for where we
are going based on everyone
having a say.

sTRucTUre, gOveRnAnce AnD ManageMenT

GOVERNING DOCUMENT

Spitalfields Farm

Association is a registered Charity established as a company limited by guarantee. The objects of the Charity and its governance provisions are set out in the Articles of Association, which were adopted by the Farm's Board on 16 February 2011. The Trustees have had regard to the Charity Commission's guidance on public benefit.

RECRUITMENT AND APPOINTMENT OF NEW TRUSTEES

The Directors of the
Charity (the Board of

Trustees) are usually appointed from residents or persons working within the Borough of Tower Hamlets or the City of London. Trustees are expected to take a particular interest in a specific area of the Farm's activities and/ or to have a relevant professional expertise.

Governance is undertaken by means of monthly Trustee Board Meetings at which reports are presented for discussion and decisions taken on the various aspects of the Farm's work together with the latest financial information, health and safety matters and other governance issues. A system of internal controls is in operation at the Farm with regard to all financial operations. A series of written policies has been adopted and is in operation to govern operational matters.

ORGANISATION AND REPORTING

AT THE FARM

Farm operations and
strategy are overseen
by the Chief Executive.
Departmental Co-ordinators
oversee the project
activities and report to
the Chief Executive.

The Trustees meet monthly
with the Chief Executive
and one or more staff

members, on a rotational basis. Trustees reserve the final decision on major capital expenditure and strategic decisions.

OTHER CHARITIES AND RELATED PARTIES

There were no
relationships between
the charity and related
parties that required
disclosure.

The Farm was a member of the following organisations as this was considered beneficial to achieving our objectives: 

Rare Breeds Survival
Trust; East London
Business Alliance; Social
Farms & Gardens; London
Youth; National Council of
Voluntary Organisations;
Volunteer Centre Tower
Hamlets; Tower Hamlets
Council for Voluntary
Services.

REMUNERATION POLICY

All staff salaries
including key staff are
reviewed annually as
part of the Farm's
Remuneration policy.
The Chief Executive's
appraisal is conducted
by the Chair of Trustees.
The Board of Trustees
recently undertook a
comprehensive review and
benchmarking analysis of
all salaries for parity
across the staff roles
and pay levels.

21

RePORT oF tHe trUSteeS FOR tHe YeAr enDeD 31 MaRcH 2022

RISK MANAGEMENT

The Board has examined
the principal areas of
the Farm's operations and
considered the major risks
which may arise in each of
these areas.

In the opinion of the Trustees, the Farm has established resources and review systems which, under normal conditions, should allow the risks identified by them to be mitigated to an acceptable level in its day-to-day operations. 

The major risks are:

The Farm utilised a risk register to review and monitor various operational risks. The Farm has systems to give early warning of financial shortfalls, and regularly reviews its operating policies. The Farm maintains good contact with the necessary governmental departments on animal husbandry, regulations and restrictions, liaises extensively with the local council's health and safety officers, and has conducted a comprehensive review of its washing facilities, fire safety policy and information boards/warning signs. 

22

RePORT oF tHe trUSteeS FOR tHe YeAr enDeD 31 MaRcH 2022

ReFeRence AnD AdMinisTRative Details

REGISTERED COMPANY NUMBER

02021898 (England and
Wales)

TRUSTEES

Trustees, who are also
directors under company law,
who served during the year
and up to the date of this
report were as follows:

COMPANY SECRETARY

Alexander Michael Davidson

CHIEF EXECUTIVE OFFICER

Philip Nichols

REGISTERED CHARITY NUMBER

Neil Stuart Rodel
Chair

INDEPENDENT EXAMINER

299536

REGISTERED OFFICE

Buxton Street
E1 5AR

Vivian Chan
Resigned 5th April 2022

Amaya Jasmin Wang

Alexander Michael Davidson

Prestons & Jacksons
Partnership LLP
364 - 368 Cranbrook Road
Ilford, Essex IG2 6HY

inDePendent eXAminers

Graham Thomas Morgan

Deepa Sekar
Resigned 22nd Feb 2022

Prestons & Jacksons
Partnership LLP were
appointed as independent
examiners to the charitable
company during the year.

Michael Richard Woods

Harold John Critchley
Appointed 24th November 2021

Momotaz Begum
Appointed 23rd May 2022

Approved by order of the
board of trustees on
November 16 2022 and signed
on its behalf by:

signature

Zoe E Leadley-Meade
Appointed 20th May 2022

name

23

inDePendent eXAminer's RePORT

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SPITALFIELDS FARM ASSOCIATION LIMITED ('THE COMPANY')

I report to the charity
trustees on my examination
of the accounts of the
Company for the year ended
31 March 2022.

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

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of ICAEW which is one of the listed bodies.

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: 

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.

Mr A Patel BA (Hons),
BFP, FCA
ICAEW
Prestons & Jacksons
Partnership LLP
364 - 368 Cranbrook Road
Ilford
Essex IG2 6HY

Date: November 16 2022

24

sTATement oF Financial ActivitieS (incORporATing An incOMe AnD eXPendiTUre AccOUnt) FOR tHe YeAr enDeD 31 MaRcH 2022

INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Horticulture
Education
Volunteering
Team Challenges
Other trading activities
Investment income
Total
EXPENDITURE ON
Raising funds
CHARITABLE ACTIVITIES
Charitable activity
Total
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
Notes
2
3
4		 72,033
10,362
32,191
-
41,270
31,433
14
187,303
9,923
171,334
181,257
6,046
128,908
134,954
Unrestricted
fund
£		 Restricted
fund
£
60,477
-
13,115
6,700
-
-
-
80,292
21,491
41,082
62,573
17,719
83,502
101,221		 31.3.22
Total
funds
£
132,510
10,362
45,306
6,700
41,270
31,433
14
267,595
31,414
212,416
243,830
23,765
212,410
236,175		 31.3.21
Total
funds
£
267,695
3,334
25,000
-
5,216
20,191
24
321,460
17,216
191,552
208,768
112,692
99,718
212,410

The notes form part of these financial statements 

25

sTATement oF Financial poSiTiOn 31 MaRcH 2022

FIXED ASSETS
Tangible assets
CURRENT ASSETS
Biological Assets
Debtors
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
Unrestricted funds
Restricted funds
TOTAL FUNDS
Notes
11
12
13
14
16		 31.3.22
£
31.3.21
£
-
5,595
9,403
262,369
277,367
(41,192)
236,175
236,175
236,175
134,954
101,221
236,175
3,024
5,797
5,019
213,609
224,425
(15,039)
209,386
212,410
212,410
128,908
83,502
212,410

The notes form part of these financial statements 

26

sTATement oF Financial POsition 31 MaRcH 2022 continued

The charitable company is
entitled to exemption from
audit under Section 477
of the Companies Act 2006
for the year ended
31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006. 

The trustees acknowledge
their responsibilities for

a ensuring that the

charitable company keeps
accounting records that
comply with Sections 386
and 387 of the Companies
Act 2006 and

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 November 16 2022 and were signed on its behalf by:

Trustee

signature

The notes form part of these financial statements 

27

nOtes tO tHe Financial sTATementS FOR tHe YeAr enDeD 31 MaRcH 2022

1. AccOUnting POlicieS

BASIS OF PREPARING THE FINANCIAL STATEMENTS

The financial statements of the charitable company, which is a public benefit entity under FRS 102, h ave 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.

GOING CONCERN AND IMPACT OF COVID 19

The Farm's work continues to attract endorsement through attendance of their events, programmes and sponsorships grants and/ or donations. From the financial position, the Board is comfortable that the Farm is a viable going concern. 

As a result of this, the
accounts have been prepared
on a going concern basis.

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.

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those condition is wholly within the control of the charity and is probable that those conditions will be fulfilled in the reporting period.

Donated professional services and donated facilities are recognised as income when the charitable company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charitable

company of the item, is probable and the economic benefit can be measured reliably. In accordance with the charities SORP (FRS102), general volunteer time is not recognised.

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

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 

28

nOtes tO tHe Financial sTATementS continued

headings they have been
allocated to activities on
a basis consistent with the
use of resources.

cost and net realisable
value, after making due
allowance for obsolete
and slow moving items.

ALLOCATION OF SUPPORT COSTS

TAXATION

The charity is exempt from
corporation tax on its
charitable activities.

Support costs are those
functions that assist the
work of the charitable
company but do not directly
undertake charitable
activities. These costs
have been allocated between
cost of raising funds
and expenditure on
charitable activities on
the following basis:

FUND ACCOUNTING

Unrestricted funds can be
used in accordance with the
charitable objectives at the
discretion of the trustees.

Restricted funds can only Allocation of support costs be used for particular restricted purposes within • Raising Funds - 14% the objects of the charity. • Charitable Activities - Restrictions arise when 86.0% specified by the donor or when funds are raised for particular restricted Tangible fixed assets purposes. 

Depreciation is provided
at the following annual
rates in order to write
off each asset over its
estimated useful life.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 

Improvements to property -
10% on cost

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

Items of equipment are
capitalised where the
purchase price exceeds
£500. Depreciation
costs are allocated to
activities according to
the percentage used for
support costs.

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.

BIOLOGICAL ASSETS

Biological assets are
valued at the lower of

The charitable company operates a defined

contribution pension scheme. The assets of the scheme are held separately from those of the charitable company in an independently administered fund. Pension costs charged in the financial statements represent the contribution payable by the charitable company during the year.

DONATED GOODS AND SERVICES

Donated professional services and donated facilities are recognised as income when the charitable company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charitable company of the item, is probable and the economic benefit can be measured reliably. In accordance with the charities SORP (FRS102), general volunteer time is not recognised.

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

29

nOtes tO tHe Financial sTATementS continued

DEBTORS

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and Cash Equivalents Cash and cash equivalents are represented by cash in hand, deposits held at call with financial

institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

CREDITORS

Basic financial

liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument 

is measured at the present
value of the suture
payments discounted at
a market rate of interest.
Such instruments are
subsequently carried
at amortised cost using the
effective interest method,
less and impairment.

FINANCIAL INSTRUMENTS

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in nonputtable ordinary shares. 

30

nOtes tO tHe Financial sTATementS continued

2. DOnations AnD legacieS

Donations
Grants
Grants received, included in the above,
are as follows:
Grants less than £5,000
The Heritage Lottery Community Fund
LB of Tower Hamlets
Mayors for London
Jack Petchey Foundation
HMRC Job Retention Scheme
CAF Resilience Fund
The Sun Newspaper 50 Years Readers Fund
The Ince Group Charitable Foundation
Tower Hill Trust
Wakefeld & Tetley Trust
The London Community Response Fund
CMS Social Impact Fund
East End Community Foundation
The Hornes' Charity Fund
The Graduate Company
Coronavirus Business Interruption Grant
3. oTHeR trAding ActivitieS
Horticultural activities and farm sales
Fundraising activities and Events
Deposit account interest
4. invesTMenT incOMe		 31.3.22
£
58,751
73,759
132,510
31.3.22
£
3,501
-
3,000
10,947
3,283
5,801
-
-
-
7,775
5,000
-
5,000
2,654
5,000
5,798
16,000
73,759
31.3.22
£
15
31,418
31,433
31.3.22
£
14		 31.3.21
£
89,929
177,766
267,695
31.3.21
£
2,900
32,100
42,136
-
-
20,800
36,380
10,000
5,450
5,500
6,000
16,500
-
-
-
-
-
177,766
31.3.21
£
1,406
18,785
20,191
31.3.21
£
24		 
31

nOtes tO tHe Financial sTATementS continued

5. incOMe From cHAriTAble ActivitieS

Activity
Grants
Horticulture
Grants
Education
Grants
Volunteering
Grants
Team Challenges		 31.3.22
£
10,362
45,306
6,700
41,270
103,638		 31.3.21
£
3,334
25,000
-
5,216
33,550 
Grants received, included in the above,
are as follows:
Grants less than £5,000
Allen & Overy Foundation
Mayors for London
Jack Petchey Foundation
Sales
Contract Income
Mobile Farm Filming and Appearances
Tower Hamlets Holiday Fund
Kitchen Social Project
East End Community Foundation
Team Challenges		 31.3.22
£
750
1,250
1,600
1,700
13,099
27,034
11,935
-
-
5,000
41,270
103,638
31.3.21
£
-
-
-
-
3,504
9,800
3,422
2,443
9,165
-
5,216
33,550

6. net incOMe/(eXPendiTUre)

Net income/(expenditure) is stated after 31.3.22 31.3.21
charging/(crediting): £ £
Depreciation - owned assets 3,024 2,770
Independent Examiners Fees 2,200 2,100

7. trUSteeS' ReMuneRation AnD beneFitS

There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.

TRUSTEES' EXPENSES

There were no  trustees' expenses paid for the year ended 31 March 2022
nor for the year ended 31 March 2021.

32

nOtes tO tHe Financial sTATementS continued

8. sTAFF cOsTs

181,330
3,334
5,922
5,216
19,941
24
215,767
13,820
152,766
166,586
49,181
79,727
128,908
Wages and salaries
Other pension costs
The average monthly number of employees
during the year was as follows:
Full Time Equivalent
Average Head Count
31.3.22
£
147,775
2,360
150,135
31.3.21
£
161,914
1,851
163,765
31.3.22
£
7
10
17
31.3.21
£
7
13
20
9. cOMpArATiveS FOR tHe sTATement oF
Financial ActivitieS 31.3.2021
INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Horticulture
Education
Team Challenges
Other trading activities
Investment income
Total
EXPENDITURE ON
Raising funds
CHARITABLE ACTIVITIES
Charitable activity
Total
NET INCOME
RECONCILIATION OF FUNDS
TOTAL FUNDS BROUGHT FORWARD
TOTAL FUNDS CARRIED FORWARD
Unrestricted
fund £
Restricted
fund £
86,365
-
19,078
-
250
-
105,693
3,396
38,786
42,182
63,511
19,991
83,502		 Total
funds £
267,695
3,334
25,000
5,216
20,191
24
321,460
17,216
191,552
208,768
112,692
99,718
212,410 
33

nOtes tO tHe Financial sTATementS continued

10. keY ManageMenT PeRSonnel

The Key Management Personnel comprise the Chief Executive Officer. Total remuneration paid to the key management personnel during the year was £37,070 (2021: £34,912).

11. tangible FixeD ASsetS

31.3.22
£
5,595
31.3.21
£
5,797
330,579
327,554
3,025
330,579
-
3,025
Improvements
to property
£
Fixtures and
fttings
£
34,474
34,475
(1)
34,474
-
(1)
COST
At 1 April 2021 and 31 March 2022
DEPRECIATION
At 1 April 2021
Charge for year
At 31 March 2022
NET BOOK VALUE
At 31 March 2022
At 31 March 2021
Farmyard animals
Trade debtors
Prepayments
12. biologicAl ASsetS
13. DebTors: AmounTs Falling Due witHin one YeAr
31.3.22
£
8,510
893
9,403
31.3.21
£
3,322
1,697
5,019		 Totals
£
365,053
362,029
3,024
365,053
-
3,024 
34

nOtes tO tHe Financial sTATementS continued

14. crediTors: AmounTs Falling Due witHin one YeAr

Trade creditors
Social security and other taxes
Other creditors
Deferred income
Accrued expenses		 31.3.22
£
5,725
3,542
783
29,152
1,990
41,192		 31.3.21
£
3,121
1,961
626
4,593
4,738
15,039

15. AnAlYSiS oF net ASsetS between Funds

Fixed assets
Current assets
Current liabilities
Unrestricted
fund
£
-
176,146
(41,192)
134,954		 Restricted
funds
£
-
101,221
-
101,221		 31.3.22
total
funds
£
-
277,367
(41,192)
236,175
31.3.21
total
funds
£
3,024
224,425
(15,039)		 
Analysis of Restricted Funds
carried forward as at 31st March 2022
Education
Volunteering
Farm
Gardening		 31.3.22
£
28,728
2,465
63,439
6,590
101,222		 31.3.21
£
21,923
711
60,077
791
83,502

Education

These are grants received specifically for the purpose of Education. They relate to the work carried out by the Education Co-ordinator with local schools and around holiday hunger.

Farm

These are grants towards maintenance of farm and towards provision
of animal daily care such as feeds, bedding and veterinary care.
These grants also contributed towards associated labour costs.

35

nOtes tO tHe Financial sTATementS continued

16. MOveMenT in Funds

Unrestricted funds
General fund
Restricted funds
Restricted
TOTAL FUNDS
Net movement in funds, included in the above
Unrestricted funds
General fund
Restricted funds
Restricted
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Restricted funds
Restricted
TOTAL FUNDS		 At 1.4.21
£
128,908
83,502
212,410
Net
movement
in funds
£
6,046
17,719
23,765
At 31.3.22
£
134,954
101,221
236,175
are as follows:
Incoming
resources
£
187,303
80,292
267,595
Resources
expended
£
Movement
in funds
£
6,046
17,719
23,765
At 1.4.20
£
79,727
19,991
99,718
Net
movement
in funds
£
49,181
63,511
112,692
At 31.3.21
£
128,908
83,502
212,410
(181,257)
(62,573)
(243,830)		 At 31.3.22
£
134,954
101,221
236,175
At 31.3.21
£
128,908
83,502
212,410 
Net movement in funds, included in the above are as follows:

36

nOtes tO tHe Financial sTATementS continued

16. MOveMenT in Funds continued

Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Restricted
TOTAL FUNDS		 Incoming
resources
£
215,767
105,693
321,460		 Resources
expended
£
Movement
in funds
£
49,181
63,511
112,692
(166,586)
(42,182)
(208,768)

17. RelateD PaRTY DisclOsuRes

There were no related party transactions for the year ended 31 March 2022.

37

Detailed sTATement oF Financial ActivitieS

FOR tHe YeAr enDeD 31 MaRcH 2022

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Grants
Other trading activities
Horticultural activities and farm sales
Fundraising activities and Events
Investment income
Deposit account interest
Charitable activities
Grants
Total incoming resources
EXPENDITURE
Raising donations and legacies
Animal Welfare
Bedding & Feedstuff
Catering & Refreshments
Cleaning & Hygiene
Community & Fundraising
Cost of Product for sale
Charitable activities
Wages
Pensions
Sessional Workers
Support costs		 31.3.22
£
58,751
73,759
132,510
15
31,418
31,433
14
103,638
267,595
6,049
5,017
226
2,670
2,509
14,943
31,414
147,775
2,360
27,701
177,836		 31.3.21
£
89,929
177,766
267,695
1,406
18,785
20,191
24
33,550
321,460
3,843
4,733
2,579
1,250
270
4,541
17,216
161,914
1,851
-
163,765 
38

Detailed sTATement oF Financial ActivitieS FOR tHe YeAr enDeD 31 MaRcH 2022

Support costs
Finance
Bank charges
Information technology
Rates and water
Light and heat
Telephone
Postage and stationery
Repairs and renewals
Sundries
IT Software & Consumables
Subscriptions & Publications
Human resources
Depreciation of tangible fxed assets
Governance costs
Other Professional Costs
Independent Examiners Fees
Total resources expended
Net income		 31.3.22
£
1,401
-
4,652
1,084
3,436
10,705
96
1,267
1,440
22,680
3,025
5,554
1,920
7,474
243,830
23,765		 31.3.21
£
2,190
349
4,488
(752)
3,617
10,376
1,118
(133)
1,059
20,122
2,770
605
2,100
2,705
208,768
112,692

This page does not form part of the statutory financial statements 

39

Buxton Street, London E1 5AR www.spitalfieldscityfarm.org 

SPITALFIELDS FARM ASSOCIATION LIMITED
(A COMPANY LIMITED BY GUARANTEE)
REGISTERED COMPANY NUMBER: 02021898 (ENGLAND AND WALES)
REGISTERED CHARITY NUMBER: 299536

40