SPJTALFIFLDSEs191B ANNUAL flEfDfiT OQ3-Q4 rr v •Aty¢ Y*, YEA AT A GLANCE: fA6E 3 EVIEW DF THE YEAR: rA6E 4 IIEPORT DF THE TRU8TEE8 AND FINANCIAL ETATENENT8: rAGE QI
FDItEWt]RD °IN SUCH A IIIVER8E COMMUNITY AS TtIWEII HAMLET8, IT IB DUII LDVE AND AfpRECIATION DF NATURE THAT UNITE8 U8 AND REMINDS US DF tIUR COMMON HUMANITY." Th•re 18 Plxtry thè unexpected presenco of aq£ioJlture in th• clty and It heart leap to ar anlmal crie8 In th18 enclave of especial value for our wellbeing. The Farm open to all, residents and visltors allke are welcome. In such a diverse communlty as Tower Hamlets, It is our love and appreciation of nature that unites us all and remlnds u5 of our cornmon humanlty. It is where we go to cherish plants and anlmals and recognI3e our vital relationship wlth the environment. u£b•n ••tt&ng r eonn•ctlng to trh• zural land8cap• b•yond and nng u• of th• ld8 that w•r• h•r• bèforè th• stt3 w•r• blt up. Desplte the tower blocks visible through the greenery at Spltalfield? City FarTr* It is nature that prevails. I love the City FanD because it is the last field in SpitalfieLds. Here in Tower Hamlets, we have among the smallest proportlon 0£ qreen space to resldents of any metropolitan borough which makes this verdant The Gentle Author, 2024 8pitslfi•ld8li£•. Q+)Tr
tlull YEAtf AT A GLANCE EIIUCATItIN BQMNIINITY INCOME AND EXPENDITllItE TUTAL INBDME: £541.451 .Q75..,- EB.000._ All donatlons £187, 450 Grants £249, 225 Contract Income £20, 021 Shop sales £19, 234 Venue hlre £21, 930 All other Income £43,590 ODLfLB HAVE BtLIE THIIIXIIJH UUII GATEE BY TIE ElICKl IIUN CDMIIINITY FIIIDIIAIBINE EVENT TllTIL ExfENDITUIIE.. E3811.041 oo OQ3-Q4 rno BIIID HA8 CIEITED NtIllE GnllWING AND ACtlLE IIA18EII FEJ staf £ Salarles £266,"158 Site Irnprovements £22, 888 Anitnal Welfare excluding f annyard staffing £13, 173 utilities and Insurance £10, 092 All other expendlture £79,120 HAVE Ar1 WEEKLY 2J SATUIIDAY &1148 WELLBEING TOTAL FUN]18: £448.Q87 50 vixiiiiruB, IIITh Htithl8 IUIIKED VOLulifTr 81[IN8 SIX JIAYB A Y TEAN BHAu11E EIIUUPB IF WEEK ANJI A BIIDAIEII llEID6RAnllC EoffrtHIATE VIIUNTUE Unrestricted Funds Ja £347. 931 Restricted Funds £100, 366
CHAifi's MESSAGE participants for whom making connections Is a challenge. The gardens and growing have continued to be developed over the last yeari improving the space for all. Thè setback of damage caused by wlnter storms was approached P031tively and a masslve team effort has left the paddocks in a much better position for the anirftals and visitors allke. We are excited to contlnue to develop the sLte In line wLth our master plan. 'THE FAIIN HAS CONTINUED TO EIIDW IN AN6ITItIN AND IMPACT. IT'S WQNDEIIFUL TD HEAII 8TDRIES DF THE rDSITIVE CHANGE THE FARM CIJNTINUES TD D&IVEII." The Farrn continues to receive f antastic support from fundersi which Is a real testarnent to the impact of our Staff and volunteer3. efforts. The local COUDCII ha3 Lecognlsed the Farn's irrgortance to the areal and we are working with them to unlock further investment In the Farrn's accessibility and f acllltles. As th• Chalr 0£ th• Board 0£ TzuJt••¥ £or SpitalA•lda Clty Farm, I am d•llqht•d to shar• out progres8 and aehl0vnt& ov•r th• paot yèar. Our Journ•y ha8 bwn tyark•d by dcation, r•A&li•no•, and a Bharod to out The expanded reach of our educatlonal programmes has been a real highlight thls year as we contlnue to develop partnershlps in our comrnunity to ampllfy our Impact. The educatlon team have npnaged to broaden thelr reach to a 3ignificant nuller of young people In closlnqi l extend my acros8 the corrmunLtyi whilst heartfelt gratitude to also focusing on deeper everyone who ha3 supported engagement with specific Your contributions are groups in need. vital to our success. With youi helpi we will continue to thrive and make a po¥itive iLnpact. Let us work together to create a brlghter future for Spltalfields City Farm and the corrmunlty It serves. We owe our success to the unwavering support of our staf f team, volunteersi donors, funders and convnunity partners. The anim18 have always been a key part of the playing an essential part n our educational, well- being and torfrnunlty-bulldlng activities. Witnessing the expansion of the animal encounters prograllune has been a real delight, particularly hearing about the impact this has on the Through our focus on edueatlon, we strive to create connections wlth nature to benefit people and the envlronrnt. We are growing a community we want to be part of, and irnproving people, wellbeingr quality 0£ life and life chances. Thank yeu for your dedication and support. Neil Rodel, Chair of Trustees.
FARM 8TftATEEY fftosftE88: During 2021 we und•rtook & p•riod 0£ cOn8uItstsTh with ouz 8ta£f, volunt# )d tru8tè•8, th• purpo8• of which was to cr•at• a Ahar•d vi•ion 0£ h¢)w ¢)ur city Farn better serve the local SItorS and 0th8r Btak•hold•rs: A coY(n vision for whor• w• ar• qolnq baaad on •v•ryon• havinq a 8ay. Our vi3lon is to croate a space for all, that empowers people to make positive change to their livesi our collrfiunityr and the planet. We want to have an IY(9act in three key areas: Education,. Cornunlty and Wellbeing. Three th•ma8 and pxlorits•8 within the strategy were Identified and we have made progress In the followlng areas: LUEIVITY: DDLUBllnATIDN: E8IUENBE. • IprOVed slgnage at FarTfL entrance and on slte for vlsltors, Including slgnage translated Into Bengali. • Developed a varlety of new partnerships with SEN schools, prlmary and secondary school?. • Have Increased our unrestrlcted reserves, whlch wlll allow us to make slgnificant mprovements to the Farm Site and f acilities. • New relatlonships developed with a variety of communlty partners to provlde a greater number of volunteerlng and visitlng opportunltles for local people. • Cor(ff(&$sLoned external report to revlew our dlversltyi equallty and incluslon, 18 actlons identified to help us improve In these areas. • Have increased our unrestrlcted reserves. • Have undertaken a benchmarklng exercise to ensure our staf f • Appointed a new dedicated • Developed new relation$hLPS Volunteer & Cornmunity with corporate partner3 Outreach Manager. and deepened partnership3 with organisatlons we have worked wlth over the past few years. salaries are cornparable to sirftLlar sized charlties.
EDUCATIDN
CIIEAfiNS ENV1RUNlfNTLy KNOlLE]IIH AND ACTIDN- DRIENTATED COMNUNITIEE IHI] ME SIEWAIIDB FU TIE FUTUIIE. BY riitlVlDINE IN&PIIIINE EDUCATIDNIL EXlENcEs. Worked with 40 unique schools Provlded 170 hours of cooking and healthy eatlng workshops Welcomed 2.275 school children f or one-of f visits • Provided over 56 hours of provision for chlldren with special educational needs.
EDUCATItIN Th18 year, our •ducatlonal o£f•ring continues to b• popular, •Ap•elally ar(ng pzimary •clxoola locally and £roA vid•r IK4ndon borouqh8. Il• hav• work•d wLth ¢ur partn•r scJhool• to d•liv•r ov•r 170 hour• 0£ work¥hops, a8 •rf•11 •• 56 hourA 0£ dodicated pr*)10n £or SEND pJpll8 foz our n•iglthours £z¢xi woodwork and cookery. We are equally proud of our connection with the Phoenlx School, who bring work experlence students to learn about tasks on the Farm and in the gardens. playground vegetable beds and harvested produce to share with parents. Come raln or shine the students are happy to be out of the classroom and show qreat enthuslasm their learning about the growlng plantsi as well as the resident wildlife. Thls year we have grown peas, tomatoes, sweetcorn, squa8hes• chard, kale, beetroot and broad beans. Weekly sesslons eontinue with our two closest primary schools Thomas Buxton School and St. knne's & Guardian Angel8. Throughout the year the pupils at both schools have tended to thelr School. A• w•ll a8 th£• hav• l•d Jchool cl&88•• xn gulded tour• frc ov•r 40 8choolB - AanIng a total 0£ 2,275 InvIdU pupil3 hav• com• through our gate8. This year we have become a partner for Tower Hamlets Family Hubs servicei which allows us to extend our reach to families from further into the borough, and we have been pleased to make contact with new users for our holiday activities. We have also established a gardening group with rftothers f rorn our neighbouring primary school, to support cross generational learning at home. We have strengthened our partnership with Pears Family School alternative provislon f or children who have been or are at rlsk of exclusion f rom mainstreaj)) education, who visit to learn about animal carei gardenlngl an
EDUCATIDN: YOUNG fEtirLE Th• £ocu3 of ¢)ur youth provision for 23124 has the scaling 0£ yout Young Fazllwz8 ptogt•Thn•. Due to gen•touB £undlng from OVO w• w•r• Jblo to build Cap•tY £or 20 young p•cpl• to att•rA wè•kly Saturday Wlth • Jnixtur• of YOW p•¢)pl• £rom th• local ar•a and wder boroughs, ov•t an 8 Jllonth p•rod, 11 Young Fan*ra hav• had th• oppoztunlty to £ozag• ymaAhrocxu• In Eppirw Forwt, Iwn how to care £oz anlm•l• •nd brush up on th•lr cooklnq and woodworklnq •kall•. W• hav• A••n cOrd4c• gr¢>w, Altsnqsld• £rx•ndBhipJ. 4t. ¥41 YF
EDIICATION: YDUNB fEofLE YllUNB FAlfP Aa•: do•8 It Jboan to you to b• • younq faznwr? "WHENEVEII I'N WALKING THE DtINKEYS, EEPECIALLY DEItEK tIR BAYLEAF AN]J THEY 8TAftT PULLING... YDU HAVE Tll TIIY ANII FEEL IN CtINTIIDL AND IT MAKES ME FEEL IN c[INTDL tIF NY LIFE." Over the past year we have had a few young people who have been school avoiders and have attended Young Farmers as part of a reintegration plan back into rnain3tream educatlon. One particular case that Ra•: Can you t•ll has stood out is M. Prior blt about on• 0£ tho llra to starting wlth us M had •njoyable mOJh*nt8 of Ing struggled to attend school a young £•zm•z for 3 year8. During the first months cf jonIng M: I meaTh.. whenever 11 Young Farmers M was very walking the donkeys, qulet and kept to themself. especlally Derek or Bayleaf They would often say that and they ?tart pulling... you they dldnl t like talking have to try and feel Ln to people and wa3 very control and It makes me feel Bae: Anythlng •lJ• you ¥oclally closed off . Below In control of my Ilfe. to t•ll u• is a conversation with M at the end of our final sesslon before the summer holidays. It means quite a lot, especially before I dldn, t really have anything to do so It kinda helps with routine. N: Sleeplnqi Ild probably just be rotting In bed to be honest. Ila•: H•ve you £•lt or nOtIc any Chang In y¢ur••l£ slnc• gtart&ng. M: Itls good to boost your confidence and to just... It help5 your mental health if you're not In a good place. Especlally if you Ilke anirnals. Ba•: How long h•v• you b••n M: I've definitely been comlng to Younq Taz3u•r8• happler here and more open. Llke... I u3ed to be very closed of f . .but yeah. M: About a year During thelr time aB a young farmer M was offered place at Capel Manor Agrlculture College and completed their exarn8. Throughout sesslons M has supported the induction of new Young Fanners and made strong conneetions with the other young people In the group. They will be oming back during the M: It's really nicei all surnner break to support the people here are really Rae: Trlhat would you b• doing the farmyard staff with friendly and I really like 1£ you •Mt•AI t cong to anillwl care In a self- it here dlrected capacity. R4•: What nwd• you w4nt to •tart? Rae: Ilhat ffjurpri8e8 hav• arisen from bolng a young £az]r 1£ •ny I really enjoy working with animals and the people here are amazing M: I uspd to thlnk Ild be terrlfied of chickens and I didn't think I would be able to piek them up. Rae: Trlhat 13 your Overall ii4>re88ion 0£ tha Fazm? Pa•: but you can !
MEET THE EDUCATItIN MANAEEII K118Tr1 JIMNE]18fiTALFIELD8 CITY FARM IN NAY ooga FIIDN A IItIE AT A ECHDtL IN HAMf8HIRE. IAKIIB CARE tF UVEETDCK AND TEACHING TEENAIE ruriE ABtlllT ANINIL HUSBANDRY. the Farm - especlally ie we have a typlcal British SUTfLmer ! Maklng sure we are reach&ng the children who could r(Dst benefit from our activltles a continuing challenge. Do you h•v• a £avouzlt• I love the gulnea pig31 they all have their dlf ferent personalltles. I love to watch thelr Interactions a8 a groupi especially 3queaking arguments at feedlng tlme. Ar• th•r• any n•w Froj•¢ts yould Ilk• to t•ll us about? What attsactsd you to working ae • 8pitalfi•ld• ty FaEill? I really enjoy devislng activ&tie8 for our sw[er hollday programme and rnaking connectlons with our local prlrnary schools. Delivering guided tours Is always fun and we get some fantastic questions f rom the chlldren. We are refurb&Shnq an Indoor education space for small school group3, which I hope will be like a miniature Natural Hlstory Museum wlth lots of objects for chlldren to handle and see up close. Fostering excitement and curloslty about plants and creatures will hopefully Inspire children to grow into adults who want to care f or the environment. I feel strongly that the educatlonal opportunities of a Farm are empowerlng and I)0rtant. I was excited to have the chance to share these experiences with children and young people In East London whose access to green space is Ilmlted. Ilhat 18 thè wst challgIng a8p•ct 0£ th• rol•? Ilhat do y¢)u enjoy zrb)St about working in th• education d•paztll*nt? The weather can affect our plans, as we have limited inside spaces on io
EDUCATIDN: FAttMYARD RarÈ Breeds success with twin Castlemilk Moorit Farrn. She had two claims future proofing the Farm's structures f or years to come. to f ame outside of lambs born April 2023, Rolo & Rosehip. Rosehlp went on to wln Best Castlemilk Lamb at the Chertsey show. the Farm walking over London Bridge with Stephen Fry and starrlng In the indie film 'Orbit Ever After, wlth Desplte the loglstlcal challenges of relying on rental vans the farmyard tearn delivered 28 Moblle f arm8 Supporting: Thomas Brody-sangster as '3pace sheep nurther 11 November 2023 brought sadness, as we said goodbye to two of our beloved sheep. Xatrlona was 16 years old, and was the gtart of our successful flock of rare The animal paddocks suf f ered darnage durlng the January 2024 storms but the rebuilding cf the fences has been a tearft • li churches • 13 prlmary schools I secondary school breed Castlemllk Moorit Sheep. She is survived by her daughters, grandchlldren and even her great granddaughter. effort with help from staf f , tarmyard, garden, and team volunteers takinq on the challenge of learning new maintenance $klllsi gaining confidence wlth tools and tllachineryi recycling much of the original tiTnberi and • 3 comrnunity events The popularity of prlvate Anirnal Encounters al¥0 Increased, wlth 35 bookingsi engaging dlrectly with over 100 new and regular vlsltor3. Grace, 11, came to us Ln 2012 and was a much- loved face around the ' 9I1KIFIEID li
ctIMMUNITY CnE4TIM5 A WELCDMINS 8fACE FtIR rEtirLE DF ILL CDMMui¥llEE TD TtIlEfHEII. CllLTiiifL ai AND LEMN. 12
OMMUNITY We pr4)vide llMch n••d gra•n 8pace locally and a ara an intagral part 0£ the local coxrllnunity, •tr•ngtheninq connecknon8 b•twa•n land, zal3 and po¢>pl• £oz more than 45 yra. Thi• 4X>Jn•• With numbor of chall•ngeB £or •wall charlty. our staff, volunteers and visitors. urgent need of repalrs and to create new housing for our 8mall animals. Durlng 2023-24, success£ul capital fundlng applicatlon3 have allowed us to rebuild the crurnbling raised beds in our cornunlty garden space. Working to a design created on a pro-bono basls by local partners Spacehub, the new beds have Increased our growlng capacity and have made the growing space8 more accesslble, especlally for our volunteers. In 2024-25, we plan to build two new glass houses, undertake groundworks to lrnprove accessibility for visitors. We also have plans to rebuild our stable block on the farmyard, again In We have re-built the fencing for our anirnal paddocks. In 2020, Tower Hamlots Council adv&sed us that we had been nominated to receive slgnlflcant fundinq frorn The Local Inf rastructure Fund ILIFI to make other lrnprovementsi notably to rebulld our toilet facllltles. In 2022, these funds were reduced but the council have still comitted to corpletlng the works. Again, our hope is that we can achleve this In 2025. The Farm site has suffered fron a number ef years 0£ under investment and thls has resulted In the need for us to prloritise a programme of improvement works, scheduled to take place over the next coupLe of years. This will make the Farrn slte safer and result In a much nicer worklng envlronrnent for PROPOSAL TC WTr*IW41 EVllnMSG4trI1 ¢4IDENIUw PL4+APE OFFKI 13
tIMMUNITY In the 3urnmer, we held our first sponsored comunlty fundraising event. The Chicken Runi a SK run was held nearby Weavers Flelds. Over IOQ staff, familyp friends of the Fano, vlsltors and aeveral 0£ our corporate volunteers participated and we ralsed over £8,000. Followlng the run, we held a freÈ Spring Fair at the FaThi open to everyone f rom the local comunity and beyond. RCK IJW) R :: Id+. 2E '44- lit 51 14 "19 14
WELLBEING CWING AN EMVhlDNNENT Foll twll COMIlUNrrY Ttl PlllLII DN TIEllI sfRENBTh& EU THAT TOSEfiiER WE AN ADThIE&8 IIRIATItIlS IM IEDfiEE llfpoRTUNITIEE Ftlll A IEILTHY L ai 15
WELLBEING: VtLUNTEERING volunteer• ar• th• rely on their dadxeatxon, foz the baautA£ul land our volunt••r8 eontrlbut• th•lr fr••ly £¢r th• b•n•fit of th• F•rn •rAd th• cc4Mwnlty that It 8•rv•8, the valuo of thi8 tlm• thank£ul to each and one 0£ th•m. Slnc• th• Covld 19 parthio 8pltalA•ld• Clty Tazm ha8 b••n £•cu•lnq on th• iThpzov•d w•llb•ing of Last year the Farm received three years, funding from The Lottery Reachlng Communlt&e3 programe, we wanted to use thls Eundlng to broaden our reach, Increase our delivery of volunteer sessions and create better links wlth local services. 'IE HAVE INCREASED Dull VtLUNTEEII POOL AND NOW HAVE So VDLUNTEER8 HELfiNE U8 TD CARE FDR THE FATIM." anlmal carei tool use and species ID. We have made the appllcatlon process more accessible for people who do not speak We continue to run the Engllsh as a fLf3t language hugely successful Icorlander and have a dedicated Club a weekly gardening Volunteer manager in post to session held in Bengall and offer pastoral support to English. Thls has enabled exlstlng and new volunteers. local Bengali women, who may We have created a Volunteer otherwise be excluded due to Pollcy to help ensure language barriers to meet fairness and conslstency others, learn to propagate. acros3 projects and areas care for and harvest so that decislons are specialist South Asian made based upon the same vegetables. principles. Over the past year we have ncrea3ed our volunteer pool and now have 50 volunteers helping us to care for the Farm. We run volunteer ¥e?¥lons 6 days a week and have broadened the demographlc of our volunteers, creating a vibrant and diverse comunity at the Farrn. We celebrate Volunteer Week annually to say thank you to our volunteers and reinforce how rmch they are valued. We hold regular get togethers for our volunteers and offer In house training on We have made new connections with other local organisations who attend rnonthly to take part in our therapeutic gardenlng sesslons. Our next goal is to establish accredlted learning at the Farrn," delivering af f ordable courses in Horticulture and Growing. 16
MEET A VOLUNTEEII: NAOMI new skill set in a team with a misslon I felt passionately about. Ilh•t haB been a hlghlight £or you at th• Fazm? So many highllghts I Meeting people with hared values, making f riendsi getting more activel learning new skills* engaqing with the publici Holmes! And more recently the opportunity to get Involved wlth th corporate volunteerlng sesslons. Would you r•eoryw volunt••ring at SCF to oth•r•? bsolutely. There. something f or everyone, and Ursula {our Volunteer Manager) does an amazlng Job maklng everyone feel welcome and supported, no matter their abilities. How lonq hav• you b••A volunt••rlng •t th• Fani? afternoon, and engaging with the visitors. Plus any to you. other ad hoc requests I 10 rnonths, one day a week Often the highlight of rrLy weekl an oasls of ealm, real connections, and an opportunity to give back. Why you want to Nbat doe8 your rolè I retlred from the NHS in June 2022, and was looking f or something completely dif f erent, but still public facingi Wlth the opportunlty to learn a Helping wlth the dally feeding and mucking out of farln animals In the morningi seasonal jobs in the garden in the YOU U8• to desczlbe Oasis. Enriching. Famlly. 17
WEILBEING: EfltlWlNE Our fantaBtsc growing •ta££ continu• to rÈw]age our outdoor spaces to h•lp our t•am of volunt••t• Co-opi as well as local restaurant3• Including St John based locally. We also continue to host a weekly group funded by the East London NHS Foundation Trust. Gardening for Health is a group-based project for local Bengali women who experience chronic pain within the context of reduced mobilltyi Other physical health conditions and emotlonal dlstress. The project aims to re-engage wornen to thelr ab11&te3 by connecting wlth nature and belng amongst other women who have slmllar experiences and dLfficulties. dev•lop th•ir ski118 In £¢)od growlnq and to holp th• Farlll grow • br(> rang• ••&•on Ibw*rA, h•rb•, rult, and vty•t•bl••, 8p•cial £ocu• on h•titag• varletles and South Asian produ, 8ueh •8 kodu, amaranth. Indlan aplnach and chlllle8. . Throuqh our ever popular Coriander Club, we have been able to contLnue delivering weekLy wellbeing sessions held in Sylhetl to encourage women from the local Bengali cornmunlty to attend the Farm. The regular club mernbers feel that volunteering at the Farm has a nunber of P08Itlve benefits on both their physical and mental well-belng. Our produce 19 sold In our on2lte Farni shop and to st Hilda's East End Food 11 18
ELLBEIN5: VOLUNTEEII TEAM CHAILENEES YEAR AT A UNE£ This year, we hosted 160 Tearn Challenge groups with 2, 108 indlvLduals, who gave a comblned total of 7.753 hours work to rnaintain the Farm. paddock fencing after it was damaged In a winter storm and finally coJnpleted The Lodge in memory of our former colleague and Team Challenges Co-ordinator Emlly. Previously nlcknamed The Beautiful Shed, thls Izorres8lve wooden structure Is now belng used for delivering educatlon workshops. Total Volunteers 2,108 • Total Hours worked 7,753 A5 well as daily farnyard and gardenlng tasksi our corporate volunteers supported us with the beginnings of our extensive site renovations. Thls included taklng down our yurt and constructing large ral3ed growlng beds as part of our gardens redeveloprnent. We rebuilt our donkey and goat Total Teams 160 We have forrned strong relationships with many of the companies we work with and thelr practlcal and financial support is integral helplng us provide a safe and welcoming space to our cornmunity. We also gratefully recelved grants from SEI and Nuveen to lay the foundatlons for two new small anlmal enclosures on the f armyard. IP 19
MEET ONE DF tlllll COllPDIIATES: ANTAIIES ki "P03t Covld we were looking T•am Chall•ng• D•y wlth for charitable activitie8 u• baek in 2022 and for our colleagues to take n•tantly hlt it off I part in locally. The Farm Th•y'v• b••n bAck nultspl• was appeallng to us due to tamèa slnca and their the team building element, volwit••rs ar• alway• as well as the bonus of It r•li•bly hardworklnqi beLng outdoors and away •nthusla8tsc al £ull 0£ from screen51 which 18 a change from our usual working environment. work, and most Importantly fulfllllng. Tasks have varied f rom weedingi sweeplngi and palntingi using tools to fix or break things down, harveatlng llowers, amd rnore. The sessLon3 provide a rltness boost fot our colleagues and encourages them to bond wlth those that they do not usually speak to, whilst also providing support for such an iJnportant initiative. Louise Welch, Operations Manager at Antares, tells us about their experience doing Team Challenges at the Farm. We have been to the Farm three tlmes now and have a fourth day booked. We have always found the days to be engagingp fun, hard 20
EfDRT I]F THE TllTEE8 AND FINANCIAL STATEMENTS Ftlll THE YEAR ENDED 31 NAIICH I I l L aai ••¥ 21
SPITALFIELDS FAIIM ASStIClATIDN LIMITED ItEfDRT DF THE TRU8TEE8 FDR THE YEAR ENDED 31 MAItCH QOQ4 Th• trustees who aré al80 dlrector3 of the chltY £or the puzp0808 0£ th• Aet 2006, present th•ir raport with th• fjrlancial 8tat•m*nt• 0£ th• Charity £er th• y•ar •nded 31 march 2024. Th• trusto•J hav• adoptad the prov13lonJ 0£ Accountlng and R•portlng by Chazitie8: stat•m•nt 0£ R•comnendad Pzactlc• applicabl• to ¢harxti•8 pr•paring th•lr accounts in accordanc• the Financial Raporting standard appllcabl• In th• UK and R•publlc 0£ Ir•lw (FBS 102) (•ffactlva I January 2019) . n&TIvES AND AETIVrnE8 have due regard to public benefit guidance published by the Charities ComThlssion in deterruning the activities undertaken by the Charlty. OBJEcfivES AND AIDIS The principal actlvlty of the charity in the year under review was that of running an Inner-clty farr for the benefit of the inhabitants of Spltalfields and the 3urrounding neighbourhood by utilisinq its facilltles to provide education and volunteerinq activities for the 8ThATEBIB IIMT CHARITABLE AufIvITIES Thank3 to the hard work of the Farm's passionate and dedicated staff team• and our wonderful volunteers and Trustees, the Farm continued an extraordinary range of charLtable and corrtmunlty efforts this year, reachlng many people f rom dlverse groups in the local community and more widely. corro))unlty. PUBLIC BENEFIT The Trustees conflrm that they have complied wlth the duty in section 4 of the Charlties Act 2006 to 22
ItErtiitT Iir THE TRUSTEES FDn THE YEAR ENIIED 31 MAIICH QOQ4 BIRATEIIC IIErnIT The Childhood Trust Community Fund (Reaching Cornmunities England) London City Farms & Corranunity Gardens Association Intult,. IPS Capltal,. IQUW Groupi ISG Construction," ISS Facilities UK," ITV,. Janus Henderson Investors.. JLL,. Klevu UK Ltd,. Law Business Research,. Liberty Global Groupi Liberty Speclallty Markets,. Lockton," Man Group Ivla ELBA) ," McKesson," Natura," Natwest,. Nomurai Nuveen,. Olayan,. OVO,. P&G," Peel Hunt,. Pew Trusts. Flck Everard,. Frovidence,. Royal London Asset Management. RSM UK,. RSSB,. SallFolnt,' Salesf orce,. Searchlight Capltal Partners,. SEI,. Shoplfy,, SMBC Europ&. Standard Chartered,. Texel Foundatlon. Turley Assoclates Ltd,. Unlted Talent Agencyi Vantage Fower,. Vengrove," Watershed,. Weightmans LLP," Worshipf ul Comp of Actuarles,. Yuml Brand. RESULTS FOR THE YEAR The result for the year ended 31 March 2024 was a surplus of £149, 410 12023: surplus £62, 7121 Canary tharf Group • ovo Foundation • Nuveen • Nineveh Trust Total income tor the year amounted to £541, 451 12023: £406,002) Thank you to the companies who either attended our team challenge volunteering programe in personi or who supported the Farm by nHkLng donations or pre-paid for future volunteering days. Total expendlture for the year was £392, 041 12023: £343,290) ABN AMRO Bank,. Accenture.. Addleshaw Goddard,. Agendl,. AIG Life," Alix Partner31 Allen & Overyi Alteryx. IA million Ads Ltdl," Antares Global Mgt Ltd,. Apollo Mgt Int Ltd,. AppsFlyer UK Ltd,. Ares Management,. Ashurst LLP,. Aspen Insurance," Aviva Investors,. AXA Investment Managers j Baker McKenzlei Bank of England,. Beat Capital: Beazleyl BlackRock,. Bloomreach,. Blue Feather8," Bristow Consultingi Certinia • CFC Underwriting Ltd.. Chainalysls.. Chaucer Group• Chubb,. City of London. CME Group Calumbia Threadneedle Investments * Coniqi Credit Suisse," Cromwell Hospital. Dropbox," Dual Groupi Equistone," Factset," Flywire Payments Ltd,. FNZ," FSCS," Fullcirl. Gallagher.. Hea¢knx,' Heap. Helical,. HLB,. HLK,. ICMM,. The Farm's funds at 31 March 2024 amounted to £448,297 12023: £298, 8871 of which £347, 931 12023: £146, 7511 was unrestrlcted funds and £100,366 12023: £152, 1361 was restricted. Special thanks to the East London Business Alliance IELBAI dcnat•d to our 3ucca88£ul ' Ch•llpion• foz Childr•n' r)nlln• £undralBlng callgalgn: dtoppd colnJ into our donatlon boxes; U8•d the contactl•88 donation W&cne. C¢trIbut*d vla payroll qlvlng,. hold a chlldz•nl party oz an ev•nt at tha FINANCIAL BEVIEW Thank you to the following for providing us with a grant or donation during the past year: • The City Brldge Foundation Jack Petchey Foundation Tower Hill Trust • Wakefield + Tetley Trust • Worshipf ul Cornpany of Horner, s The Woolmen, s Cornpany INVESTMENTS The Farm does not hold any investments. 23
ttEfoRT OF THE TRUSTEES Foft THE VEAII ENDED 31 MARCH QOQ4 nErDKr RESERVES POLICY RESERVES POLICY Set aslde for future operating costs Set a8lde for future redundancy costs £196, 000 £30, 000 Unrestrlcted reserves at March 31 2024 were £347, 931 12023: £146,751> The trustees conslder t prudent to hold unrestricted reserves of approximately 6 months of operating costs to cover the unexpected 1088 0 major Incorne sources plus a continqency for cost8 whlch could be Incurred In the case of unexpected closure of the Farm. The balance of the unrestrlcted reserves has been allocated between Investlng for the future: Collunltted funding for rebuilding of Farm stables £10, DOO Other capital projects Isee below) Revenue projects (see belowl £70, 000 £40, 000 £346, 000 CAPITAL PRQJEcr3 Indoor educatlon space to provide a warm space for Schools In colder nnthS • Farm van to more easily enable mobile farm and In 2021 we developed a new strategy which presents a vision for the Farm and our 8ervlces for the perlod 2022 to 2025. It outllnes our aimsi objectives and prioritie3. It was the culmination of a period cf consultatlon wlth our staf f , volunteers and trustees durlng 2021, the purpose 0£ whlch wa8 to create a shared vision of how our clty farm can better serve the local ConnUnityI V15Itor3 and other stakeholders: common vision for where we are going based on everyone having a say. capltal and revenue projects to further the Farm's charitable obJectlve3. outreach work New children's play equipment • Improvements to farmyard area. • Inll)rovements to Farm, 3 toilet facilities. • Van running costs Additional staf f resources f or educatlon dellvery Resources to encourage wildlife on the Farrn • staf f welfare 24
REfoiiT DF THE TItUSTEES FOR THE YEAII ENDED 31 MARCH QOQ4 BTRIICTUIIE, BtIVERNANrE ANII MANAIKIENT Farrn with regard to all financial operations. seriÈs of written policles PZCRUIIIIENT AND APPOIIYITrJINT has been adopted and Is OF 14EW TRUSTEES in operation to govern operational nHtters. partie3 that required dLsclosure. The Farm was a rnener of the following organisations as this was considered The Directors of the Charity Ithe Board of Trusteesl are usually appolnted from resident8 or persons workinq withln the Borough of Tower Hamlets or the Clty of London. Tru3tee3 are expected to take a particular Lnterest in a speclfic area of the Farrn, 8 activitles and/ or to have a relevant beneficial to achieving our objectlves: ORGANISATION AIID BIPORTING AT THE Rare Breeds Survival Trust,. East London Business Farm operations and strategy are overseen by the Chief Executive. Individual Managers over8ee the Farm, s Alliance,. Social Farms & Gardensft London Youth,. Volunteer Centre Tower Harnlets j Tower Hamlets Council for Voluntary Services. projects and actLvitLes, eporting to the Chief Executive. prof essional expertise. REMUIQRATION POLICY The Trustees meet monthly with the Chief Executive and one or more staff member31 on a rotatLonal basis. Trustees reserve the flnal decision on major capital expenditure and strategic decisions. Governance Is undertaken by means of Monthly Trustee Board Meetings at whlch reports are presented for discussion and declslons taken on the various All staf f salaries including key staff are reviewed annually as part of the Farm's Remuneration policy. The Chlef Executive, s appraisal is conducted by the Chair of Trustees. The Board of Trustees recently undertook a corrLprehenslve revlew and benchmarking analysis of all salaries for parity across the staff roles and pay levels. aspects of the Farm's work together with the latest financlal Inf ormation, health and safetyi saf eguarding matters and other governance Issues. system of internal controls 18 In operation at the iyfHER CHARITIES AIID REL4TED PARTIES There wère no relatlonships between the charity and related 25
ErtlftT tIF THE TRUSTEES FtIR THE YEAII ENDED 31 MARCH llOg4 8TIIUCTUIE EDVEIINANfE ANII IIANAEEMENT The Farm utilised a risk register to review and monitr)r varlous operational risks. The Fartn has systems to give early waining of financial ¥hortf alls, and regularly reviews its oporatlng pollcles. The Farm maintains good contact with the necessary governmental departments on animal husbandryi regulatlons and restrictions, liaises extensively with the local councll's health and ¥afety officer8, and has conducted a comprehenslve revlew of Its washing facilitiesi fire safety pollcy and inf ormation boardslwarning signs. In the opinion of thÈ Trustees, the Farm has established resources and review systems which. under normal conditionsi should allow the risks identified by thern to be mitigated to an acceptable level in its day-to-day operation3. The Board has examined the prlncipal areas of the Farm's operations and considered the major r&sks whlch may arise in a nurnber of key areas: The Risk Register Is reviewed at trustee • Governance • Legal • Health & Safety • Safeguarding • Finance • staffing • Volunteers • Site • Technology • Prlvacy & Data Protection rneetings on a six-monthly basis. 26
EfDRT tF THE TRUSTEES Fllff THE YEAII ENDED 31 NAIICH QtV24 BWTUIIE. IIDVEftNANCE AND IIANAGEMENT TRUSTEES Mr A Patel BA (Honsl, BFP, FCA Prestons & Jacksons Partnership LLP 364 368 Cranbrook Road Trustees, vrfho are also dizectors under COT(gany law, who sezv•d during th• y•ar and up to th• d•t• 0£ thi• zoport w•r• £ollow8: ADMtNISTRkTIVE DETAILS Registered Company nurnber 02021898 (England and Wales) Ilford Essex IG2 6HY Neil Stuart Rodel Chair Alexander Michael Davidson Registered Charity nuntser 299536 Secretary Kathryn Mallett Appointed 22nd January 2024 Mlchael Richard Woods Prestons & Jacksons Treasurer Partnership LLP were appolnted as Independent examiners to the charitable cornpany during the year. Reglstered office Buxton Street EI SAR Momotaz Begum Alix E H Jackson 9th September 2024 Catalina Mastac 4th February 2024 Graham Thomas Morqan Resigned 21st June 2024 Zoe E Leadley-meade Resigned 26th March 2024 Arnaya Jasmin Wang Resiqned 26th February 2024 Appointed Report of the trustees• incorporating a 3trateglc report, approved by order of the board of trustees, as the company directofsi on 12.11.2024 and Signed on the board, s behalf by: Appointed Chair of Trustees Alexander Mlchael DavLd50n Chiaf Ex•outiv• Offic•r Philip Nichols 27
INDEfENDENT EXAMINER'8 ttEfDRT Ttl THE TRUSTEES OF 8PITALFIELDS FARM AS8tIClATlllN LIMITED INDEfEN1 EXANINEJIE IIEfoftT Ttl TIE IIIUBTEEB tF EUIS FAIIM A&UIAT UNITED ITIE CtINfANr] Charity CornTnission under Section 145151 Ibl of the 2011 Act. the accounts qive a true and fair view which is not a matter considered as part of an Independent exarninatlon. or I report to the charity trustees on my examLnatLon of the accounts of the 4 the accounts have not been prepared in accordance with the methods and principles of the Statement of Recorrmended Practlce for accounting and reporting by charities lappllcable to charitie preparing their account8 in accordance wlth the Financial Reporting Standard appllcable In che UK and Republic of Ireland IFRS 10211 Slnce your charity's gros income exceeded £250, 000 your examiner must be a rnellber of a listed body. I can confirm that I am quallfied to undertake the examination because l am a member of the Inst&tute of Chartered Accountants 8ngland and Walesi which is one of the Ilsted bodles. Company for the year ended 31 March 2024. BESPONSIBILITIES AIID BASIS OF REFORT AS the charity's trustees of the Company land also its directors for the purposes of cornpany lawl you are responsible for the preparatlon of the accounts in accordance with the requirements of the Companies Act 2006 (' the 2006 Act, I I have completed my examination. I confirm chat no matters have come to my attention in connection with I have no concerns and the exarnination giving me have come across no other cause to belleve: matters in connection with the examination to whLch attentlon should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Having satlsfied myself that the accounts ot the Cornpany are not requlred to be audited under Part 16 of the 2006 Act and are eligible for independent examination I report respect of rny examination of your charity's accounts as carrled out under Section 145 of the Charities Act l acceuntlng records were not kept In respect of the Company as requlred by Sectlon 386 of the 2006 Act,. or 2 the accounts do not accord with those records," Mt A Pat•1 Bk (Hon•), or Pzes ns & Jackson8 3 the accounts do not Partnership LLP conFly with the accounting 364 - 368 Ctanbrook Re1 requirements of Sectlon Ilf¢>td. Eaaex IG2 6HY 396 of the 2006 Act other than any requiremÈnt that 2011 1.the 2011 Act, I carrying out my examination I have f ollowed the In Directions given by the Date: 12.11.2024 28
STATEMENT DF FINANCIAL ACTIVITIES IINcoRfoffATING AN INCDME ANII ExfENIIITUIIE ACCllUNTI FDIt THE YEAR ENDED 31 MARCH QOQ4 Unrestricted Restricted fund fund 31.3.24 31.3.23 Total £unds Total funds Notes Donations and legacies 199,317 240,093 439, 410 198, 351 Charitable aCt£tl•S HorticultuIe Education 19,234 30,428 24,Q25 19,234 31,761 24,025 13,853 36,435 135, 874 1,333 Team Challenges other trading activitie8 Investment Income 21,931 5,090 21,931 5,090 20, 540 949 Total 300, 025 241,426 541,451 406,002 Raising tunds 23,182 13,285 36,467 27,860 CHARITABIE AufIvITIE8 Charitable actlvlty 127,258 228,316 355, 574 315, 430 Total 150, 440 241,601 392, 041 343,290 NET IIICCblE/ (EXPENDITURE) Transf ers between funds 149,585 51.595 (175) 151,595) 149,410 62,712 19 N•t mov•m•nt £unda 201, 180 (51, 770) 149,410 62,712 BECONCILIATICX4 OF FUNDS Total funds brought forward 146,751 152, 136 298,887 236, 175 347, 931 100,366 448,297 298, 887 The notes forJn part of these fanCIal statements 29
8TATEMENT DF FINANCIAL Pt]SlTlllN 31 MARCH QOQ4 Notes 31.3.24 31.3.23 FIXED ASSETS Tangible assets 14 30,119 BiologLcal Assets Debtors Cash at bank and Ln hand 15 16 5,900 25,122 436,057 5,240 14,453 313,281 467,079 332,974 Amounts falling due within one year 17 (48,901> 134,0871 NIT CURI ASSETS 418, 178 298,887 LIABILITIES 448,297 298,887 NIT ASSETS 448,297 298,887 19 Unrestrlcted funds Restricted f unds 347, 931 100.366 146,751 152,136 448.297 298,887 The charitable company Is entitled to Èxemptlon trom audlt under Se¢tlon 477 of the Companies Act 2006 for the year ended 31 March 2024. ensuring that the charitable company keeps accountlng records that cornply with Sections 386 and 387 of the Cor(panles Act 2006 and b preparlng financial statements which give a true and fair view of the state of affairs of the charitable company as at thÈ 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 whlch otherwise comply with the requirements of the Companles Act 2006 relating to financial staterAents, so far as appllcable to the charitable company. The rnernbers have not required the coLpanY to obtain an audit of its financlal statements for the year ended 31 March 2024 in accordance with Section 476 of the Cornpanies Act 2006. The tinancial statements were approved by the Board ot Trustees and authorised for issue on 12.11.2024 and were signÈd on &ts behalf by: The trustees acknowledge their responsibilities for LIidif ur L fubEeeb The notes form tt of these financial statements 30
STATEMENT DF CASH FLOW8 FDR THE YEAR ENDED 31 MARCH QOQ4 31.3.24 31.3.23 Notes Caah Ilows from operating Cash generated from operat&ons 148,837 49,963 Charltabla activiti•• NeL cash provided by eperatlng activities 148,837 49, 963 Cash £low• fz¢)m invostlnq aetlvltl•8 Purchase of tangible fixed assets (31,151) 5,090 Interest received 949 Net cash (used in) /provided by Inve5tlng activities {26,061) 949 Chang• In ca•h •nd ca•h •quzval•nt8 In th• r•portlng p•riod 122,776 50,912 C•Bh and cash •qulval•nt8 at th• b•ginnlng 0£ th• r•portlng p•rlod 313.281 262,369 Caah and cash •quival•nts at th• •nd 0£ the r•portLng p•riod 436,057 313,281 The notes fonn part of these financial statements 31
Nt]TES TD THE STATEMENT tIF CASH FLDWS FOR THE YEAR ENIIE]I 31 MAItCH QOQ4 I BECONCILIATION OF NET INCCME TO NET CASH FL(M FR(1 OPERATING AcfIvITIES 31.3.24 31.3.23 N•t Inc for th• r•prtkng p•rl¢ (as p•z th• 5tatan•nt 0£ Tlnanclal 149,410 62, 712 djustm•nt• for: Depreciation charges Interest received Ilncrease l /decrease in blologlcal assets 1,032 (5,090) 19491 355 (660) (10.669) 14,814 Increase In debtors Increase/ Idecreasel In creditor 15,0501 17, 1051 N•t cash providéd by )p•ratlon• 148,837 49,963 2 ANALYSIS OF CHAN8 IN NET FL7NDS At 31.3.23 Cash flow At 31.3.24 Net caah Cash at bank and In hand 313,281 122,776 436,057 313,281 122, 776 436,057 Total 313,281 122, 776 436,057 The notes form part of these financial statements 32
NtITES Ttl THE FINANCIAL STATEMENTS FDII THE YEAII ENDED 31 MAItCH QOQ4 1. ILcDuKnNE fDiJfiE8 wlth the char&tles SORP I FRS1021 , general volunteer tirne is not recognised. BASIS OF PREPARING TH All income is recognised In the Statement of Flnanclal FINANCIAL STATEIr8 Activities once the charity has entitlement to the On receipt, donated professi.onal services and donated facllltles are recognised on the basis of the value of the gift to the charltable company which is the amount the The financial statements of the charitable companyi which is a public benefit entlty under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities: Statement of Reco[tIended Practlce applLcable to charities preparing their accounts in accordance with the Financial Report&ng Standard applicable in the UK and Republlc of Ireland IFRS 1021 lef fective l January 20191 Financial Reporting Standard 102 ' The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Aet 2006. The flnanclal statements have been prepared under the historical cost convention. funds, It Is probable that the income will be received and the amount can be measured reliably. Donations are recognised when the charlty has been notified in writing of both the amount and settlement date. In the event that charitable company would have been wllling to pay to obtaln 8ervlces or f acLlltles of equlvalent economlc benefit on the open market; a correspondlng arnount Is then recognlsed Ln expendlture In the period of receipt. donation is subject to conditlons that require a level of performance before the charlty Ls entltled to the funds, the incoroe is deferred and not recognlsed untll elther those conditions are fully rnet, or the fulfilment of those condition 13 wholly within the control of the eharlty and Is probable that those conditions wlll be fulfilled In the reporting perlod. Llabilities are recognised as expenditure as soon as there Is a leqal or constructive obligation eonunitting the charity to that expenditurei It is probable that a transfer of econotTrlc benefits wlll be required in settlement and the amount of the obligation can be rneasured reliably. Expenditure Is accounted for on an Donated prof essional ¥ervices and donated f acilities are recognised as Income when the charitable company has control over the item, any conditions associated with the donated item have The Farm's work continues to attract endorsernent through attendance of their events, proqrammes and sponsorships grants and/ or donations. From the financial accruals basis and has been classified under headings that aggregate all cost related to the posltlon, the Board 18 comfortable that the Farn is a viable going concern. been met, the receipt of economic benefit from the use by the charitable cornpany of the iteini IS probable and the oconomic benefit can be llLea3ured reliably. In accordance category. Where costs cannot be directly attributed to particular headings they have been allocated to activities cn a basis consistent with the use of resources. As a result of this, the accounts have been prepared on a going concern basis. 33
NOT&8 Ttl THE FINANCIAL STATEMENTS FOR THE YEAR ENIIED 31 NAIICM QOU. CONTINUED ALU)CATION OF BUPPORT COSTS TAXATIC those of the charitable cornpany in an independently administered fund. Pension costs Charged in the financial statements represent the contribution payable by the charitable company during the year. Support costs are those functions that assist the work of the charltable cojnpany but do not directly undertake charitable activities. These costs have been allocated between C03t of raising funds and expenditure on charitable activitles on the following basis: The charity is exempt from corporation tax on its charLtable actlvlties. Unrestricted funds can be used in accordance with the DONATED GOODS AND SERVICES haritable objectives at the discretion of the trustees. Donated professional services and donated facllltles are recognised as income when the charltable company has control over the itemi any condltLons associated wlth the donated item have been met, the recelpt of econemic beneflt from the use by the charitable cornpany of the Item, probable and the economic benefit. can be measured reliably. In accordance with the charitles SORP I FRS1021 , general volunteer tlme Is not recognlsed. Restrlcted funds can only be used for partlcular restrlcted purposes within the objects of the charlty. Restrlctlons arise when specified by th8 donor or when funds are ralsed for particular restricted purposes. • Ralslng Eljnds 141 • Charltable Activities 86.OPo TANGIBLE FIXED ASSETS Depreciatlon Is provlded at the following annual rates n order to write off each asset ovet Its estlmated useful Ilfe. Further explanation of the nature and purpose of each fund is included in the notes to the financlal statements. Improvements to property IO* on cost Iterns ot equipment are capltalised where the purchase price exceeds £500. Depreciation costs are allocated to activities according to the percentage used for support costs. PENSICtI COSTS AklD OTHER FOST-RETIIIDSENT BENEFITS on receipt, donated The charitable company professional servLces operates a defined and donated facilities contrlbution pension scheme. are recognised on the Contributions payable to the basis of the value of the charitable company. s pension gift to the charitable cheme are charged to the company which Is the amount statement of Financial the charitable conpany Activities in the period to would have been willing to which they relate. pay to obtain services or facilities of equivalent economic benefit on the open market.. a corresponding anUnt is then recognised in expenditure in the period of receipt. BlOI1cAL ASSETS Biological assets are valued at the lower of cost and net realisable value. af ter rnaking due allowance for obsolete and slow moving items. The charitable company operates a defined contribution pension scherne. The assets of the scheme are held separately frorn 34
NOTES TD THE FINANCIAL STATEMENTS THE YEAII ENIIEII 31 NAftCH IDNTINUED at call with financial Instltutions, and other Short-term highly liquLd nvestments that mature debt instrument Is rneasured at the ptesent value of the suture payments discounted at a rnarket rate of interest. Such instruments are subsequently carried at amortised cost uslng the ef f ective interest method, less and irnpairrnent. Basic financial asset8, includlng trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transactlon 1$ measured at the present value of the future receipts dlscounted at a market rate CREDITORS of interest. Such assets are subsequently carried at arnortised cost u3inq the ef fective interest rnethod, le8s any ImpaLrment. n no rnore than three rnonths frorn the date of acquisition and that are readily convertible to known arnounts of cash with insignificant rlsk of change in value. flNANCIAL IN8TRilblENTS The company only enters Into basic financial instiurnents transactions that result in the Basic financial liabilitie31 ncludlng trade and other creditor3, loan¥ f rom third parties and loans frorn related partles, are initially recognlsed at transaction pricei unless the arrangement constitutes a financing tran3actlon. where the recognition of financial a¥sets and liablllties like trade and other debtors and credltors, loans from banks and other third parties, loans to related parties and inve3trnents In non- CASH AND CASH EQUIVALENT8 Cash and cash equlvalent$ are represented by cash In hand, deposits held puttable ordinary shares. 35
NtITES Ttl THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 094. BDNTINUED . IIONATIDN3 ANII LEWIES 31.3.24 31.3.23 Donations Grants 188, 934 250.476 46,098 152,253 439, 410 198, 351 Grants recelved, Included In the above are as £ollows: 31.3.24 31.3.23 Grants less than £5, 000 Allen & Overy Foundation LB of Tower Hamlets Mayors f or London Garfield Weston Jack Petchey Foundatlon Tower Hill Trust 10,382 1,250 2, 500 4,000 500 20,000 15,660 4,600 3,750 58,397 17,617 863 Wakefield & Tetley Trust The Natlonal Lottery Conrnunity F)Jnd EasL- End Communjty Foundation The Horners Charity Fund Groundwork London Greater London Authority The Clty Bridge Trust Reachlng CoTrllThunities Herbal Hldal Tesco corrUnitY Fund Chapman Charitable Trust Department of Education London City Farms & Cor(munity Gardens As3ociatlon Nuveen Comunity Grant Quartet Comunity Foundation Water Conservation Trust Big Ideas Canary Wharf Group Young Farmers Programme City University Nlneveh Trust OVQ Foundation SEI Investments Tower Hill Trust Beautiful Shed 28,882 10,000 5,000 5,000 8,906 6,865 37, 500 9,750 10,000 1,000 1,000 500 50,000 3,886 14,776 250 444 750 2,500 25,201 4,000 25,000 5,000 7,000 250,476 152,253 36
NtITE8 Ttl THE FINANCIAL STATEMENTS FllR lliE YEAII ENIIED 31 MAftCH QOQIL ioiifiNUEII 3. DIIEII TRADIIB ACTIVITIE8 31.3.24 31.3.23 Fundraising activities and Events 21.931 20,540 IIVEETVENT IICDNE 31.3.24 31.3.23 Depos&t account interest 5,090 949 5. INCtIME FIIUM CHAI11TE ACTIVITIE8 31.3.24 31.3.23 Actlvity: Horticulture Education Team Challenges 19,234 31,761 24,025 13,853 36,435 135, 874 75,020 186, 162 Inc¢The received, Included In the above, is as follows: 31,3,24 31.3.23 Grants less than £5,000 Sale8 1,250 16,070 20, 828 12,140 135, 874 20,363 20,522 io,iio 24,025 Contract Income Mobile Farm FilThing and Appearances Team Challenges 75,020 186, 162 8. IIAISINS FLND8 31.3.24 31.3.23 Animal Welf are Bedding & Feedstuff Catering & Ref reshments Cleaning & Hygiene CorDmunlty & Fundraising Cost of Product for sale 3,734 5,941 445 3,886 470 21,641 4,233 5,186 1,169 3,239 13. 192 36,117 27.019 37
NOTE8 Ttl THE FINANCIAL STATEMENTS TIE YEAR ENDED 31 NARCH QOQ4. BDKtINIED 6. ffAISING FUND8 cT 31.3.24 31.3.23 Other trang actsvitieB Bad debts 350 841 Aggregate amounts 36,467 27, 860 7. CHARITrPLE ABnvrriES CDSTB Support costs Isee note 81 Direct costs Totals Charitable activity 273, 366 82,208 355, 574 , Eurruirr ctlBT8 Other Overhead Other Support costs Governance Finance costs costs Totals Charitable activity 2,726 38,642 1,032 39,808 82,208 8. IEf INClllfJtErnJJrruiO Net incoTre/ l expenditure) is stated af ter charging/ Icreditingl 31.3.24 31.3.23 Depreciatlon Independent Examlners, Fees owned assets 1.032 2,200 2,200 38
NllTE8 Ttl THE FINANCIAL STATEMENTS TIE YEAR ENDEII 31 MARCH gOll4. CllNTINUED 10. TIlUsT fiEMUIEffAtIlll AND BW[3 There were no trustees, remuneration or other benefits for thé year ended 31 March 2024 nor for the year ended 31 March 2023. TRUSTEES, EXPEtISES There were no trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. 11. KtPFF CQStE 31.3.24 31.3.23 Wages and salarie3 other pension costs 256,620 4,480 230,201 3,164 261,100 233,365 The average rnonthly number of employee3 during the year was as follows: 31.3.24 31.3.23 Full Time Equivalent Average Head Count 16 25 19 No employees received emoluments In excess of £60, 000 39
NDTEB Ttl THE FINANCIAL 8TATEMENTS FDII THE YEAR ENDUI 31 NAREH QOQ4. BDNTINUED IQ. CtIMrAIIATIVES FUII THE 8TrIENENT (F FINANCI ACTIVITIES 31.3.13 Unrestricted Restricted fund fund Total funds Donation3 and legaci.es 56,983 141, 368 198, 351 Charitabl• activltl•• Horticulture 13,853 35,185 135, 874 13,853 36,435 135, 874 Education Team Challenges 1, 250 Other tradlng activitie¥ Investment income 20,540 949 20, 540 949 Total 263, 384 142, 618 406, 002 Raising £und8 21,279 6, 581 27,860 CHARITABLE AefiviTIE8 Charitable activity 230, 308 85, 122 315,430 Total 251, 587 91,703 343,290 NET INCC 11,797 50, 915 62,712 RECONCILIATION OF FUNDS Total funds brought forward 134, 954 101,221 236, 175 146, 751 152, 136 298, 887 40
NDTE8 Tll THE FINANCIAL 8TATEMENTS FDR THE YEAR ENDED 31 IIARCH QOQ4. CtINTINUEII Ta. KEY MANAEEMENT fEI8UNNEL The Key Nanagement Personnel comprise of the Board of Trustees and the Chief Executlve Officer. Total remuneration paid to the key management personnel during the year was £39, 595 12023: £39,239) TANGI NXED th88ETS Flxtures Improvements to property and fittings Totals COST At l April 2023 Addltlons 330.579 28,103 34,474 3,048 365, Q53 31,151 At 31 March 2024 358, 682 37,522 396,204 DEPRECIATION At l ApriL 2023 Charqe for year 330,579 449 34,474 583 365,053 1,032 At 31 March 2024 331,028 35,057 366,085 NET BOOK VALUE At 31 March 2024 27,654 2,465 30,119 At 31 March 2023 I& PIUU161BAL1£8EIE 31.3.24 31.3.23 Farmyard animals 5.900 5,240 IB. LEBTDII8: AMtIUNTE FAWNB DIE wmiiN ONE YE411 31.3.24 31.3.23 Trade debtors 23,873 1,249 13,281 1,172 Prepaens 25,122 14,453 41
NOTES Ttl THE FINANCIAL 8TATEMENTS FDR THE YEAII ENDED 31 MAIICH CONTINUEII 11 CIIEDITUII8: AXOUNT8 FaUB DIE WIThIN tINE YEAn 31.3.24 31.3.23 Trade credltors 5,305 4,798 783 4,377 3,147 783 Social security and other taxes other creditors Def erred incorne Accrued expenses 34,025 3,990 17,598 8,182 48,901 34,087 a3 18. ANALYSIS tF NEf la[[E BETIIEEN FUMI18 Unrestrlcted Restricted fund f und 31.3.24 31.3.23 Total funds Total funds Fixed assets Current assets Current Ilabllltles 30,119 366,713 (48, 901) 30,119 467, 079 (48,901) 100,366 332, 974 134,0871 347, 931 100,366 448,297 298, 887 Analy81• 0£ R•8trlct•d Fund8 cazrlad £orward a8 at 31st March 2024 31.3.24 31.3.23 Educatlon Volunteeiing Farm 45,709 17,410 21,524 52,783 23, 871 7, 982 30, 000 37, 500 Gardenlng Central costs Slte improvement 15,723 100,366 152,136 42
NtITE8 Ttl THE FINANCIAL 8TATEMENTS FOR THE YEAR ENDED 31 MARCH QOQ&L coiifiNUED ta ANAU818 (F IET A&IEI8 BETWEEN FUND8 DJNTWUED a2 CENTRAL COSTS Grants towards the purpose of education with local These are grants towards rrointenance of Farm and Grants towards the salary of thÈ Chief ExÈcutlve and schools, the emplOllent of an towards provision of animal Education Intern to support daily care such as feeds, the delivery of services bedding and veterinary specifically for young people. care. These grants also contributed towards associated labour costs. for support to develop a fundraising strategy. VOLUWIEERIYIG Funds towards the upkeep and rnaintenance of the Farm Grants towards the salary of a deslgnated Volunteer Manager, to help support the development of our volunteer services . SLte. Including renovation of The Beautiful Shed and installation of two new Grants towards improving the layout of the Farm's growing spaces. qlasshouses. 19. NDVFKNT IN FIIIJI8 Net. Transters between At movement At 1.4.23 in fund3 f unds 1.3.24 Unr•8tsxct•d £und• GeneraL fund 146,751 149,585 51,595 347,931 R••trlct•d £urAd8 Restrlcted 152, 136 (175) (51,595) 100, 366 Tot•1 funds 298,887 149,410 448,297 Net movernent in funds, included in the above are as follows: Incoming resources Resources Movement expended in funds Unrestsictad £und8 General fund 300, 025 (150,440) 149,585 R•st£ictad funds Restricted 241,426 <241,601) (175) Tots funds 541,451 (392,041) 149,410 43
NOTES Ttl THE FINANCIAL STATEMENTS THE YEAR ENDED 31 NAREH QOQ4. CUNTINUED 19. NtIVUENT IN FUNI18 T Net At rrLovement At 1.4.22 in f unds 1.3.22 Unz•3tr&ct•d funds General fund 134, 954 11,797 146,751 Ro3trlcted £und8 Restricted 101,221 50,915 152, 136 Total funds 236, 175 62,712 298, 887 Net movemenL In funds, included in the above are as follows: Incomlng resources Resources Novement expended in funds Unr••tsiet•d £und8 General f und 263,384 (251,587) 11,797 Re8trict•d £und8 Restricted 142, 618 <91,703) 50,915 Total £und• 406,002 (343,290) 62,712 Ji O. ftELATED fAm Th&U8UftE8 There were no related party transactions for the year ended 31 March 2024. 44
DETAILED STATEMENT tIF FINANCIAL ACTIVITIES Flllt THE YEAII ENIIED 31 MAItCH 31.3.24 31.3.23 Donatsona and l•g•ci•a Donatlons 188, 934 250,476 46,098 152,253 Grants 439,410 198,351 othet trading Fundral3lng actlvLtle8 and events 21,931 20, 540 Invéstmènt inc¢) Deposit account interest 5,090 949 Charltablo actlvltle8 Grants 75.020 186, 162 Total Incornlnq r••ourc•• 541,451 406,002 Ilai•ing donation• •nd l•ga¢i•• Anlmal welfare Bedding & feedstuff Catering & ref reshments Cleanlng & hyglene Cornrnunity & fundraising Cost 0£ product for sale 3,734 5,941 445 3,886 470 21.641 4,233 5,186 1,169 3,239 13,192 36.117 27,019 Other tradlng activlti•8 Bad debts 350 841 Charitabl• actlvltl•3 Wages Pensions 256, 620 4,480 230,201 3,164 11,216 3,235 12,774 Rates and water Insurance 5,100 7,166 Sessional Workers 273.366 260, 590 This page does not forJn part of the statutory fmancial statements 45
IIETAILED 8TATENENT UF FINANCIAL ACTIVITIES Ftllf THE YEAR ENDED 31 MAllllH QOI24, CONTINUEII 31.3.24 31.3.23 Support C08t8 Tinane• Bank charges 2,726 2,559 oth•r ov•rh•ad coats Rates and water 126 4,993 926 3,300 23,307 1,593 ioi 4,296 Light and heat Telephone Postage and Stationery Repalrs and renewals Sundrles 7,158 1,160 2,832 10,274 4,029 IT soetware & consumables Subscriptions & publicatlons 2,627 38,642 28,080 Oth•r •upport co•t• Depreeiatlon of tanglble fixed assets 1,032 Gov•rnane• eoats Other prcfessional costs Independent Examiners, fees Consultancy 11,779 2.840 25.189 4,075 I,B70 18,256 39,808 24,201 Total resources expended 392,041 343,290 Total incollng r•sourc•a 149,410 62,712 This page does not form part of the statutory financial statements 46