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2022-07-31-accounts

REGISTERED COMPANY NUMBER: 01432126 (England and Wales) REGISTERED CHARITY NUMBER: 508910

REPORT OF THE TRUSTEES AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022 FOR

WHIRLOW HALL FARM TRUST LIMITED AND ITS SUBSIDIARIES

Hollis and Co Limited Chartered Accountants Statutory Auditor 35 Wilkinson Street Sheffield South Yorkshire S10 2GB

WHIRLOW HALL FARM TRUST LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

Page
Reference and Administrative Details 1
Chairman's Report 2 to 3
Report of the Trustees 4 to 10
Report of the Independent Auditors 11 to 13
Consolidated Statement of Financial Activities 14
Consolidated Balance Sheet 15
Company Balance Sheet 16
Consolidated Cash Flow Statement 17
Notes to the Consolidated Cash Flow Statement 18
Notes to the Consolidated Financial Statements 19 To 32
Detailed Consolidated Statement of Financial Activities 33 to 35

WHIRLOW HALL FARM TRUST LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 JULY 2022

TRUSTEES Keith Edmund Lilley - Chair
Kathleen Margaret Aikin
Hugh David Facey
Norman Stuart Farmer
Peter David Edwards
Olubukola Oshin
Martin McKervey
Nicholas Adrian Goffin - resigned 27.10.21
Tanya Christina Holt – appointed 17.09.22
COMPANY SECRETARY Martin McKervey
REGISTERED OFFICE Whirlow Hall Farm
Whirlow Lane
Sheffield
S11 9QF
REGISTERED COMPANY 01432126 (England and Wales)
NUMBER
REGISTERED CHARITY 508910
NUMBER
AUDITORS Hollis and Co Limited
Chartered Accountants
Statutory Auditor
35 Wilkinson Street
Sheffield
South Yorkshire
S10 2GB
CHIEF EXECUTIVE OFFICE Ben Davies
BANKERS HSBC
PO Box 50
17 Church Street
Sheffield
S1 1HH

1

WHIRLOW HALL FARM TRUST LIMITED

CHAIRMAN'S REPORT FOR THE YEAR ENDED 31 JULY 2022

The Trust is extremely proud that it safely maintained Alternative Provision (AP) programmes for the most vulnerable children and young adults throughout the Coronavirus pandemic. The work at Whirlow has ensured continuity for students and families alike and helped reduce the issues that many felt at the time. The lifting, in July 2021, of the remaining COVID control measures gave the Trust the freedom to resume the other activities that it had undertaken prior to the pandemic.

Given its proximity to the start of the summer holidays, and despite our Education team being ready to deliver across the board, this decision had little immediate effect upon our programmes. We saw little change until the start of the new school year when the numbers of students attending secondary AP at the Trust began to grow once more; by the end of the reporting period, attendance had returned to pre-pandemic levels. It was striking that the disruption of the previous 18 months had a significant adverse impact upon the emotional well-being and mental health of many students. Whirlow has played a part in helping children with some of the greatest needs,

Our partnership with Becton School – a Child and Adolescent Mental Health (CAMHs) care provider - also resumed in mid-September 2021, with secondary attendance growing rapidly to pre-pandemic levels. Following on from this success, arrangements were made to expand provision to include Sixth Form students from October 2022 onwards. Beyond AP, schools were understandably cautious about off-site activities, instead prioritising in-school learning for the majority. As a result, it was not until Spring 2022 that the first primary school residential groups returned to the Farm. Day visits remained a low priority throughout the year; they did not recommence until September 2022.

The Trust remains committed to its full range educational activities including:

Despite the lifting of restrictions, the Trust struggled to generate income from its commercial activities. Our new café opened to great acclaim in July 2021, but was repeatedly disrupted in the following months as a result of COVID amongst staff. In common with many hospitality business, recruiting and retaining staff proved difficult and the team only hit their stride in early 2022. Shortly after, the cost of living and energy crises started to have a negative effect on performance.

Elsewhere, enthusiasm for farm shops waned as customers returned to the convenience of supermarket shopping. Weddings and off-site catering events, traditional mainstays of our trading activities, were extremely slow to take off with many organisers reluctant to commit so soon after restrictions were lifted.

Despite these challenges, throughout this turbulent recovery period, the Trust has been supported by a wide range of grant-giving Trusts, corporate sponsors, professional organisations and generous donors. Our neighbours continue to be understanding and accommodating, and our staff efforts are boosted by the energy, experience and enthusiasm of our volunteers. This support has been hugely appreciated: thank you to those who have helped.

That generosity has meant that, following on from the opening of our new café, our plans to expand facilities to provide charitable services were also able to progress. Work began on our second education centre in January 2022, with completion planned for the autumn. This project will double our capacity for AP at a time when demand is growing; we have already allocated the additional space. We are extremely grateful to all those who have helped us make our Ruby anniversary pledge - to expand our programmes and become more sustainable - a reality.

Despite the challenges of COVID and the impacts of the cost of living and energy crises, the Trust continues to be in relative financial health. However, this has meant that some of our agricultural activities – particularly those that rely heavily on feed, fertiliser and indoor livestock housing – have had to be mothballed for the time being; they will not resume unless spiralling costs fall. But there remains plenty at the Farm to keep our students busy and attract visitors, and we continue to have sufficient reserves for our immediate needs.

2

WHIRLOW HALL FARM TRUST LIMITED

CHAIRMAN'S REPORT FOR THE YEAR ENDED 31 JULY 2022

As ever, the Trustee Board is extremely grateful to all who have contributed to the Trust during such challenging times. This generosity has enabled the Trust to provide essential services for the city’s children and young adults, and help them to deal with the additional anxiety that recent events have caused.

The pandemic has in many ways compounded the need for the support that Whirlow Hall Farm Trust provides. I am proud to be part of an important charity that has delivered support and continues to do so.

Keith Lilley Chair of the Board of Trustees September 2022

3

WHIRLOW HALL FARM TRUST LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 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 July 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 ACTIVITIES

Objectives and aims

Whirlow Hall Farm Trust Ltd (WHFT) is based on a 138 acre working farm on the outskirts of Sheffield. We provide outdoor-based educational and developmental activities for school children and other groups on residential or day programmes. We welcome youngsters from all backgrounds but focus on schools, groups and individuals from areas that are disadvantaged or that have special needs. We provide tailored opportunities that enable them to reach their full potential. Our programmes are built around nurture, farming and the environment, and are closely allied to the national curriculum and to city-wide priorities. For many, what we do enhances existing educational and vocational provision. But our focus is increasingly on providing an alternative for those whose needs cannot be met by mainstream programmes. We help children who have been excluded, or who are at risk of exclusion, to reconnect with education so that they can make the most of their potential. We help those that struggle in mainstream schools. We help young adults whose learning needs mean they are at risk of becoming isolated. We continuously review provision to ensure it remains relevant.

We also offer supported volunteering placements, apprenticeships and employment for people with special needs. We use the farm and its produce to raise funds to enable this activity.

We use the farm and its produce to raise funds for this activity.

Main activities undertaken to further the charitable company's purposes for the public benefit

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

The aftermath of COVID-19 and the impact on global events

The Trust, like so many organisations, saw its activities severely disrupted by the COVID-19 pandemic. Whilst most restrictions were lifted before the start of this reporting period, the pandemic’s after-effects continued to impact the Trust.

Whilst we proudly continued to deliver Alternative Provision to the most in-need children and young adults, other educational programmes were slow to resume as schools focused on in-class learning; residential visits did not resume until spring 2022 and day visits remained on hold until autumn 2022.

Despite maintaining COVID protocols, café trading was disrupted by staff illness, making it difficult for our new facility to find its feet. Shop trading – which had been high as customers shunned the queues of supermarkets - fell away as people returned to the convenience of large stores. Other commercial activities - such as weddings and events – were few and far between, symptomatic of caution in organising large events that, should government guidance change, were at risk of cancellation.

At the same time, government financial support schemes ended and grant-giving organisations - that had been so generous during the pandemic - understandably became more restrained in their funding.

The situation was exacerbated in Spring 2022 by events in eastern Europe. Soaring costs for fertiliser, feed and energy meant that some farming activities – particularly those where livestock was housed indoors or fed, rather than grazed – became unviable. As a result, the farm ceased its commercial pig-breeding programmes and ran down egg production; these will not resume unless they become profitable once more. In addition, there was a gradual, but noticeable, drop in café and shop trading during the early stages of a deepening cost-of-living crisis.

So, as predicted, the period following the COVID pandemic proved just as challenging for the Trust as the preceding months. We are once again relieved and proud in equal measures to have come through another difficult period in reasonable financial shape. But it’s not all bad news….

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WHIRLOW HALL FARM TRUST LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022

ACHIEVEMENT AND PERFORMANCE

Charitable activities

Without doubt our greatest achievement was finding ways to safely provide continuous support to our vulnerable students throughout such a challenging time. This involved on-line sessions, home visits and then the re-introduction of activities at the Farm. Once restrictions lifted, the range of activities was expanded and group sizes began to grow as an increasing number of students returned to the farm.

In addition, we made significant progress on the construction of a second education facility and our Learning Kitchen. Funded by incredibly generous donors and community groups, these projects faced major challenge as a result of supply-chain issues but will be completed in October 2022; they will immediately double our capacity for AP provision and providing additional facilities for employability and life-skills education. Importantly, these new facilities provide a warm, bright and nurturing environment for youngsters who, for a host of reasons, can often find classrooms intimidating.

During the course of the 21/22 financial year we:

Current Programmes

Secondary Alternative (Nurture) Provision - In partnership with Sheffield City Council we delivered Entry Level 3 and Level 1 Animal Care qualifications and AQA Unit Awards aimed at developing a range of practical and work-based skills which provides a strong foundation for progression to college courses, apprenticeships or full time employment. We offer a re-engagement programme designed to work with children outside mainstream education or otherwise disengaged from learning, and a flexible work-based programme for learners with Behavioural, Emotional and Social Difficulties.

Learning Difficulties and Special Needs - Provision of therapeutic, educational sessions for ages 16+ with SEN, five days a week, fifty weeks of the year and focused on providing a wide range of experiences, improving confidence, independent living and work based skills. Special Needs Inclusion Playcare Service (SNIPS) for 5-16 year-olds with additional needs took place outside term-time. We also partner with Freeman College, part of the Ruskin Mill group to provide qualifications and work-based experience.

Colleges and Universities - Providing work experience and research opportunities to university and college students from South Yorkshire on Animal Management, Veterinary Nursing, Teaching and Child Psychology.

Day and residential visits - In previous years, thousands of children have visited the Farm on either day or residential visits. COVID concerns mean that residential visit numbers were relatively low this year, although bookings for next year are very strong. No day visits took place this year, although we expect schools to begin taking up opportunities in the next academic year.

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WHIRLOW HALL FARM TRUST LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022

The Farm

As was highlighted last year, the various demands of the Trust’s operations make the Farm a challenging place to work. The diversity necessary for the educational offering, the impact of fundraising events, its size and exposed position constrain the commercial viability of the farm; that variety also means that the Farm operation requires significant infrastructure and equipment.

This year’s unprecedented price increases to fertiliser, fuel, bedding and feed, and in common with most commercial farms, the Trust has been forced to reassess its farming activities. In doing so we have had to find the balance between providing educational experiences and commercial viability. As a result, outdoor and grazing livestock – sheep and cattle – have been largely unchanged, and continue to supply our farm shop and butchery. Indoor and fed livestock – pigs and hens – have proved unaffordable and so, other than retaining a much-reduced numbers of each for educational purposes, are no longer part of the farming activities. Goats and small animals continue to provide additional variety for school groups and visitors, whilst free-range turkeys are a welcome sight in the lead up to Christmas. High standards of animal welfare are a priority on the Farm.

The horticultural operation contributes a variety of fruit and vegetables throughout the year. Our maturing vineyard produced 3 tonnes of grapes for the 2021 harvest, all hand picked by our students, volunteers, staff and supporters. The grapes are turned into wine which is sold through our shop and café. The orchard has a similar role, and produced enough apples for 300 bottles of cider. Christmas trees are produced to meet seasonal demand. The small team of permanent farm staff receive vital help from volunteers, Trustees and apprentices.

- Farm Shop, Cafe and Off Site Catering

Our new café opened to great fanfare in July 2021, and was warmly welcomed by a local community that had spent much of the previous 18 months cooped up at home. Sadly, despite its initial popularity, progress was hampered by staff absence due to COVID and, subsequently, by recruitment and retention issues. These problems did not settle down until the Spring of 2022, and so we have yet to see the full benefit of the café operation.

Having thrived during the pandemic – when we were an attractive shopping destination for those wanting to avoid supermarkets - shop and butchery trading fell away as customers returned to their usual routines. Christmas trading was as strong as ever and we hope that other improvements, along with increasing footfall in the café, will see trading increase gradually in the future.

Weddings and off-site catering provided welcome, but much-reduced income when compared with previous years. However, all indications are that they will return to normal levels for FY 22/23.

Fundraising and Events

Fundraising to deliver and develop our charitable offering was achieved through a variety of means. We continued to receive generous support – both restricted and unrestricted - from a wide range of grant-giving organisations, community groups, individuals and business who value what we do; they recognise the importance of services for vulnerable children and young adults from across the city and further afield. This generosity has been vital to meeting the running costs of the Trust, and for the development of its facilities. We are particularly humbled that so many have supported Whirlow on a number of occasions, and in some cases, with regular support. Whilst many donors, particularly individuals, wish to remain anonymous, further details can be found at Note 22.

We are also grateful that several local businesses continue to support and sponsor us. We received generous in-kind support for our Education building development plans from Arborist Tree Care, ARS Limited, CMS, DLP, Gripple and Southgate and Sarabia. The Mandashi Foundation’s generosity was instrumental to the development of the Gateway kitchen. In addition, the Rotary Club of Abbeydale have continued their generous and long-standing support of the Trust, providing funds to help furnish our new education facility.

In addition, we hosted a number of fundraising events at the Farm, although the weather was not a supporter this year – our Summer event was rained off and our Christmas Fair fell foul of blizzard conditions. GRI Group’s generous sponsorship of fundraising events, in addition to a substantial unrestricted donation, was an enormous help in such a challenging year.

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WHIRLOW HALL FARM TRUST LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022

Buildings and Facilities

We are enormously grateful to those whose tremendous generosity made our development plans a reality. The construction and kitting-out of a second education building and installation of a learning kitchen – the Gateway – provide exciting new facilities that increase capacity and offer even greater opportunities. Our students will learn life and employability skills in welcoming and comfortable surroundings, helping them to really make the most of their potential. Following on from the completion of our new café in 2021, the generosity of the funders shows incredible faith in, and support for, the Trust. We cannot thank them enough.

Staff and Volunteers

Notwithstanding the churn that our commercial department has experienced – in line with other hospitality businesses – the team is now settled and productive. Recent recruitment has added considerable experience, imagination and skills to our collective ability. Salaries and pay are inevitably a concern in the current economic climate, but the Team remain committed, motivated and determined to do the very best they can for those we help. Knowing that they deserve more – and wishing that our finances were such that their efforts could be better rewarded - the Board agreed a 2.5% pay increase for the Team.

Although some, inevitably, have not returned, volunteering at the Trust has resumed strongly following the easing of COVID restrictions. They support across the full range of Trust activities – education and farm tours, commercial activities, farming and horticulture, fundraising and events, governance and administration; every department and function benefits hugely from their experience, energy and skills and we are grateful that they carry so much of the workload. We continue to attract a steady flow of youngsters including from Sheffield universities, as well as retaining long-serving volunteers.

FINANCIAL REVIEW

Financial position

The difficulties described above meant that financial performance, particularly for our commercial operations, was below the ambitious target set at the start of the year. In addition, the development of our new facilities – only possible because of generous donations – meant that the Trust’s depreciation bill rose substantially this year. These factors had a significant negative impact on our bottom line; net losses have been on a par with those of previous years. However, the Trust’s Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) was positive. It is anticipated that, as our trading activities become more established and with changes to the farm operations, performance will improve over the next FY. In addition, we continue to receive substantial donations from individuals and organisations alike; we remain a charity that is valued and that many want to support. Our balance sheet remains healthy. However, like everybody else, we are concerned about the ongoing impacts of the cost-of-living crisis, spiralling energy prices and lack of clarity regarding government policy and support during what is likely to be another challenging year.

Investment policy and objectives

Under the Memorandum and Articles of Association the trust has the power to invest in any way the Board of Directors considers appropriate to meet the trust’s objectives.

Reserves policy

The Trust has a long-held aspiration to hold unrestricted cash reserves equivalent to 6 months operating costs. Notwithstanding the Board felt that this level of reserve may be unnecessarily high and planned to review it based on the planned activity of the Trust, operational and strategic risks, and the Trust’s tenure as a tenant of Sheffield City Council The uncertainty created by COVID means that now is not the time to enact that review. As at 31 July 2022 the free reserves of the group amounted to £284,712 (2021: £400,694) representing 4 months of operating costs.

Going concern

After making appropriate enquiries, the Trustees have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.

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WHIRLOW HALL FARM TRUST LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022

Fundraising practices

Fundraising remains a key aspect of the Trust’s financial model. The majority of our fundraising activity is undertaken by our in-house fundraising team, although we encourage local community groups and our supporters to assist.

No commercial participators are employed to carry out our fundraising.

The charity was not subject to an undertaking to be bound by any voluntary scheme for regulating fund-raising. We operate in a low-key and friendly manner and always in accordance with the values of the Trust- there is no hard-sell whatsoever. Whilst we may approach corporate organisations and community groups for support, we never approach individual members of the public - we always wait for them to make the first contact.

As a result, we have received no complaints regarding our approach to our fundraising activities, nor have we been subject by a regulating body to any undertaking regarding these activities.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The company and the group is registered as a charitable company limited by guarantee.

The company and the group is constituted under a Memorandum of Association and is a registered charity [number 508910].

Recruitment and appointment of new trustees

The role of the Board of Directors (Trustees) is to ensure that it oversees the work of the charity effectively. In order to do this, membership of the Board of Directors is monitored by the Chairman of the Board. Periodically, time is set aside at a Board meeting to reflect on the Board’s performance and functioning as a team.

Should vacancies occur, new Board members will be appointed through a selection process which includes an interview with two members of the Board and the Chief Executive.

Induction and training of new trustees

New Board members receive appropriate induction and training which will include:

Board members are expected to keep up to date with the Trust’s affairs in order to provide effective governance.

Each Board member normally sits on at least one of the Board’s committees, which are:

The Chair of each committee is responsible for ensuring that its members remain up to date and contribute to the committee’s effective operation.

Children and Young People Safeguarding Policy has been reviewed and updated in conjunction with Sheffield City Council Safeguarding Services. Trustees, CEO and Head of Education ensure that the policy and guidelines are fully understood and adhered to by all staff and volunteers.

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WHIRLOW HALL FARM TRUST LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022

Key management remuneration

Senior staff is the Chief Executive Officer only. The pay was set by approval of the board in 2015 and any changes would have to be discussed and approved by the board.

Risk management

Whirlow Hall Farm Trust believes that risk management is an essential part of its management process. The Chief Executive is accountable to the Board of Directors for the management of risk. The Trustees have assessed the major risks to which the company and group are exposed, particularly those related to operations and finances. They are satisfied that systems are in place to mitigate our exposure to major risks. Risk assessments are carried out within each function of the Trust.

The key risks are:

Income insufficient to cover the running costs of operations . We have a diverse fundraising and income generating strategy to reduce reliance on any one income stream. We are expanding the activities of our trading company in order to generate additional funds for the charity.

Loss of volunteer and public support. The charity seeks to reduce this risk by ensuring governance and compliance are high priorities; maintaining communications and engagement with local communities; ensuring that volunteers are meaningfully employed and well-organised.

Failure to adapt to changes in demand for our charitable offering . We maintain awareness of the city's issues and local authority plans. We seek feedback from our numerous user groups.

Safety of children and young people. Health and Safety, and Safeguarding are the number one priority at the Trust. We have comprehensive policies and procedures in place, and regularly brief staff and volunteers on related matters. Following lockdown, we were signed off by Sheffield City Council's Health, Safety and Wellbeing Department as able to provide a COVID-secure environment for the resumption of Alternative Provision.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Whirlow Hall Farm Trust Limited for the purposes of company law) are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

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WHIRLOW HALL FARM TRUST LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022

AUDITORS

The auditors, Hollis and Co Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Approved by order of the board of trustees on 29 October 2022 and signed on its behalf by:

Keith Edmund Lilley - Trustee

10

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WHIRLOW HALL FARM TRUST LIMITED

Opinion

We have audited the financial statements of Whirlow Hall Farm Trust Limited (the 'charitable parent company') and its subsidiaries (the ‘group’) for the year ended 31 July 2022 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Consolidated Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group and the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group’s and the charitable parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Group Annual Report, but does not include the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WHIRLOW HALL FARM TRUST LIMITED

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the charitable parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group and charitable parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or charitable parent company or to cease operations, or have no realistic alternative but to do so.

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WHIRLOW HALL FARM TRUST LIMITED

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the further that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

PETER HOLLIS (Senior Statutory Auditor) for and on behalf of Hollis and Co Limited Chartered Accountants Statutory Auditor 35 Wilkinson Street Sheffield South Yorkshire S10 2GB Date: 10 November 2022

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WHIRLOW HALL FARM TRUST LIMITED

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY 2022

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
5
Education and events
Other trading activities
3
Investment income
4
Other income
6
Total
EXPENDITURE ON
Raising funds
7
Charitable activities
8
Education and events
Total
Net gains/(losses) on investments
NET INCOME
Transfers between funds
22
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
257,345
262,291
805,573
205
597
1,326,011
881,374
429,623
1,310,997
-
15,014
236,788
251,802
1,502,382
1,754,184		 Restricted
fund
£
243,918
-
-
-
-
243,918
-
37,633
37,633
-
206,285
(236,788)
(30,503)
191,087
160,584		 2022
Total
funds
£
501,263
262,291
805,573
205
597
1,569,929
881,374
467,256
1,348,630
-
221,299
-
221,299
1,693,469
1,914,768		 2021
Total
funds
£
668,404
134,202
521,726
33
71,410
1,395,775
651,556
417,481
1,069,037
(1)
326,737
-
326,737
1,366,732
1,693,469

14

WHIRLOW HALL FARM TRUST LIMITED

CONSOLIDATED BALANCE SHEET 31 JULY 2022

Notes
FIXED ASSETS
Intangible assets
15
Tangible assets
16
Investments
17
CURRENT ASSETS
Stocks
18
Debtors
19
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
20
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
22
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
funds
£
2,142
1,296,446
-
1,298,588
66,923
86,103
491,010
644,036
(188,440)
455,596
1,754,184
1,754,184		 Restricted
fund
£
-
-
-
-
-
-
185,584
185,584
(25,000)
160,584
160,584
160,584		 2022
Total
funds
£
2,142
1,296,446
-
1,298,588
66,923
86,103
676,594
829,620
(213,440)
616,180
1,914,768
1,914,768
1,754,184
160,584
1,914,768		 2021
Total
funds
£
3,213
984,353
-
987,566
78,586
109,303
638,074
825,963
(120,060)
705,903
1,693,469
1,693,469
1,502,382
191,087
1,693,469

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 29 October 2022 and were signed on its behalf by:

Keith Edmund Lilley - Trustee

15

WHIRLOW HALL FARM TRUST LIMITED

COMPANY BALANCE SHEET 31 JULY 2022

Notes
FIXED ASSETS
Tangible assets
16
Investments
17
CURRENT ASSETS
Stocks
18
Debtors
19
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
20
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
22
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
funds
£
1,274,857
2
1,274,859
47,689
346,943
198,060
592,692
(106,373)
486,319
1,761,178
1,761,178		 Restricted
fund
£
-
-
-
-
-
185,584
185,584
(25,000)
160,584
160,584
160,584		 2022
Total
funds
£
1,274,857
2
1,274,859
47,689
346,943
383,644
778,276
(131,373)
646,903
1,921,762
1,921,762
1,761,178
160,584
1,921,762		 2021
Total
funds
£
962,503
2
962,505
70,903
316,755
401,019
788,677
(76,372)
712,305
1,674,810
1,674,810
1,483,723
191,087
1,674,810

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 29 October 2022 and were signed on its behalf by:

Keith Edmund Lilley - Trustee

16

WHIRLOW HALL FARM TRUST LIMITED

CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 JULY 2022

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash used in investing activities
Cash flows from financing activities
Capital repayments in year
Net cash used in financing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2022
£
470,295
470,295
(431,980)
205
(431,775)
(-)
(-)
38,520
638,074
676,594		 2021
£
370,533
370,533
(628,576)
33
(628,543)
(674)
(674)
(258,684)
896,758
638,074

17

WHIRLOW HALL FARM TRUST LIMITED

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 JULY 2022

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income for the reporting period (as per the Statement of Financial
Activities)
Adjustments for:
Depreciation charges
Losses on investments
(Profit)/loss on disposal of fixed assets
Interest received
(Increase)/decrease in stocks
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by operations		 2022
£
221,299
117,894
-
3,066
(205)
11,663
23,198
93,380
470,295		 2021
£
326,737
80,263
1
(917)
(33)
(3,659)
(66,465)
34,606
370,533
  1. ANALYSIS OF CHANGES IN NET FUNDS
At 1/8/21 Cash flow At 31/7/22
£ £ £
Net cash
Cash at bank and in hand 638,074 38,520 676,594
638,074 38,520 676,594
Total 638,074 38,520 676,594

18

WHIRLOW HALL FARM TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 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, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historic cost convention, unless stated otherwise in the relevant accounting policy.

The charitable company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Financial Activities in these financial statements.

The financial statements consolidate the accounts for Whirlow Hall Farm Trust Limited and its wholly owned subsidiary. The results of the subsidiary are consolidated on a line-by-line basis.

The presentation currency of the financial statements is the Pound Sterling (£).

The financial statements are rounded to the nearest £1.

Critical accounting judgements and key sources of estimation uncertainty

The charitable company makes estimates and assumptions concerning the future. The resulting accounting policies and assumptions may, by definition, seldom equate to the related actual results.

Estimates and judgements are continually evaluated and are based upon historic experience and other factors, including expectations of future events that are believed to be reasonable in the circumstance.

Going concern

The Trustees have considered the impact of COVID-19 on the charity's income and operating cost base. They have prepared forecasts of income and expenditure for the period to 31 December 2023 which shows that they have sufficient reserves to be able to continue for the foreseeable future. However, these forecasts are based upon a number of assumptions which are sensitive to the future impact of COVID-19 and the success of the expanded cafe. The Trustees continue to monitor the impact on income and expenditure and take appropriate action as necessary.

The Trustees recognise the uncertainty around future income generation and the inherent risk regarding the success and sustainability of their plans, however, they have concluded that the entity remains a going concern. The Trustee's therefore continue to adopt the going concern basis of preparation for these financial statements.

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.

Grants (including the Coronavirus Job Retention Scheme) are included in the Consolidated Statement of Financial Activities on a receivable basis. The basis of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement to receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued and included in debtors as accrued income.

Donated services or facilities are recognised when the company has control over the item, any conditions associated with the donation have been met, the receipt of economic benefits to the company from the use of the item is probable and that economic benefit and be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised in the Statement of Financial Activities. Donated professional services and facilities are recognised on receipt on the basis of the value of the gift to the company, which is the amount that it would have been willing to pay to obtain the services or facilities of equivalent economic benefit on the open market. A corresponding amount is then recognised in expenditure in the period of receipt.

19

WHIRLOW HALL FARM TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022

1. ACCOUNTING POLICIES - continued

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Expenditure on raising funds includes all expenditure incurred by the group to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure of charitable activities is incurred directly on undertaking the activities which further the group's charitable objectives, as well as any associated support costs.

Tangible fixed assets

Tangible fixed assets are stated at historic cost less accumulated depreciation and any accumulated impairment losses. Historic cost includes expenditure that is directly attributable to bring the asset to its location and condition necessary for it to be capable of operating in the manner intended by management.

Tangible assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Gains and losses on disposal are determined by comparing the proceeds with the carrying value and are recognised in the Statement of Financial Activity.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated economic lives. The assets' residual values, useful economic lives and depreciation methods are reviewed, and adjusted if appropriate.

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

Buildings and horticultural plot 2% and 5% straight line
Furniture and fittings 10% and 20% straight line
Farm centre and pathways 10% straight line
Trailers and plant 10% reducing balance
Motor vehicles 20% reducing balance
Computer equipment 20% straight line

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

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

Fund accounting

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

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

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

20

WHIRLOW HALL FARM TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022

1. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme, and the pension charge represents the amounts payable by the company to the fund in respect of the year.

2. DONATIONS AND LEGACIES

Individuals
Charitable foundations
Legacies
Corporate donations
Gift Aid
3.
OTHER TRADING ACTIVITIES
Farm operations
Shop & cafe operations
4.
INVESTMENT INCOME
Interest receivable
5.
INCOME FROM CHARITABLE ACTIVITIES
Education
Fundraising and events		 2022
£
264,456
120,283
13,735
50,735
52,054
501,263
2022
£
31,862
773,891
805,573
2022
£
205
2022
Education
and
events
£
208,076
54,215
262,291		 2021
£
344,833
218,430
9,000
29,160
66,981
668,404
2021
£
39,474
482,252
521,726
2021
£
33
2021
Total
activities
£
129,863
4,339
134,202

21

WHIRLOW HALL FARM TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022

6.
OTHER INCOME
Coronavirus Job Retention Scheme
7.
RAISING FUNDS
Raising donations and legacies
Staff costs
Event costs
Premise costs
Other trading activities
Purchases
Staff costs
Other costs (farm)
Other costs (shop & cafe)
Depreciation
Loss on sale of assets
Aggregate amounts
8.
CHARITABLE ACTIVITIES COSTS
Education and events		 Direct
Costs
£
226,404
226,404

22

WHIRLOW HALL FARM TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022

9. SUPPORT COSTS

SUPPORT COSTS
Management
£
Education and events
198,605
198,605		 Governance
Finance
costs
£
£
14,370
27,877
14,370
27,877		 Totals
£
240,852
240,852

10. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2022
£
Statutory audit fee
9,000
Audit-related assurance services
18,177
Taxation compliance services
100
Other non-audit services
600
Depreciation - owned assets
114,372
Surplus/(deficit) on disposal of fixed assets
3,066
Computer software amortisation
1,071		 2021
£
9,158
22,902
85
13
79,192
(917
1,071

11. TRUSTEES' REMUNERATION AND BENEFITS

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

Trustees' expenses

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

12. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Charitable activities
Cost of generating funds
Farm and cafe operations
Management		 2022
£
594,248
36,924
8,303
639,475
2022
10
2
33
3
48		 2021
£
453,831
24,862
8,317
487,010
2021
9
2
22
3
36

No employees received emoluments in excess of £60,000.

The key management personnel of the company comprise the Trustees and the Chief Executive Officer. The total remuneration costs for the key management personnel amounted to £43,738 (2021 £43,734).

23

WHIRLOW HALL FARM TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022

13.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
539,724
Charitable activities
Education and events
134,202
Other trading activities
521,726
Investment income
33
Other income
71,410
Total
1,267,095
EXPENDITURE ON
Raising funds
644,476
Charitable activities
Education and events
347,596
Total
992,072
Net gains / (losses) on investments
(1)
NET INCOME
275,022
Transfers between funds
27,029
Net movement in funds
302,051
RECONCILIATION OF FUNDS
Total funds brought forward
1,200,331
TOTAL FUNDS CARRIED FORWARD
1,502,382
Restricted
fund
£
128,680
-
-
-
-
128,680
7,080
69,885
76,965
-
51,715
(27,029)
24,686
166,401
191,087		 Total
funds
£
668,404
134,202
521,726
33
71,410
1,395,775
651,556
417,481
1,069,037
(1)
326,737
-
326,737
1,366,732
1,693,469

As permitted under section 408 of the Companies Act, the profit and loss account (Statement of Financial Activities) of the parent company is not presented as part of these financial statements. The parent company’s surplus for the financial year, including restricted donations, was £2463,952 (2021 £294,138).

14. COMPARATIVES

Certain comparative costs have been reanalysed in line with activities to provide a more appropriate comparison.

24

WHIRLOW HALL FARM TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022

15. INTANGIBLE FIXED ASSETS
Group
15.
INTANGIBLE FIXED ASSETS
Group		 15.
INTANGIBLE FIXED ASSETS
Group		 15.
INTANGIBLE FIXED ASSETS
Group
COST
At 1 August 2021 and 31 July 2022
AMORTISATION
At 1 August 2021
Charge for year
At 31 July 2022
NET BOOK VALUE
At 31 July 2022
At 31 July 2021
16.
TANGIBLE FIXED ASSETS
Group
COST
At 1 August 2021
Additions
Projects under construction
Disposals
At 31 July 2022
DEPRECIATION
At 1 August 2021
Charge for year
Eliminated on disposal
At 31 July 2022
NET BOOK VALUE
At 31 July 2022
At 31 July 2021		 Short
Long
leasehold
leasehold
£
£
6,176
1,309,352
-
-
45,995
369,600
-
(104,235)
6,176
1,620,712
2,972
608,441
348
59,220
-
(104,235)
3,320
563,426
2,856
1,057,286
3,204
700,911		 Computer
software
£
4,485
1,272
1,071
2,343
2,142
3,213
Plant and
machinery
£
111,545
4,696
-
(9,945)
106,296
93,945
5,802
(9,945)
89,802
16,494
17,600

25

WHIRLOW HALL FARM TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022

16. TANGIBLE FIXED ASSETS - continued

COST
At 1 August 2021
Additions
Projects under construction
Disposals
At 31 July 2022
DEPRECIATION
At 1 August 2021
Charge for year
Eliminated on disposal
At 31 July 2022
NET BOOK VALUE
At 31 July 2022
At 31 July 2021
TANGIBLE FIXED ASSETS
Company
Long
leasehold
£
COST
At 1 August 2021
1,309,352
Additions
Projects under construction
45,995
369,600
Disposals
(104,235)
At 31 July 2022
1,620,712
DEPRECIATION
At 1 August 2021
608,441
Charge for year
59,220
Eliminated on disposal
(104,235)
At 31 July 2022
563,426
NET BOOK VALUE
At 31 July 2022
1,057,286
At 31 July 2021
700,911		 Plant and
machinery
£
111,545
4,696
-
(9,945)
106,296
93,945
5,802
(9,945)
89,802
16,494
17,600		 Fixtures
and
fittings
£
801,699
11,689
-
(75,807)
737,581
552,859
39,132
(70,292)
521,699
215,882
248,840
Fixtures
and
fittings
£
753,172
4,084
-
(69,126)
688,130
519,549
34,674
(65,814)
488,409
199,721
233,623		 Motor
vehicles
Totals
£
£
58,080
2,286,852
-
-
62,380
369,600
-
(189,987)
58,080
2,528,845
44,282
1,302,499
9,870
114,372
-
(184,472)
54,152
1,232,399
3,928
1,296,446
13,798
984,353
Motor
vehicles
Totals
£
£
52,280
2,226,349
-
-
54,775
369,600
-
(183,306)
52,280
2,467,418
41,911
1,263,846
9,013
108,709
-
(179,994)
50,924
1,192,561
1,356
1,274,857
10,369
962,503

26

WHIRLOW HALL FARM TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022

17. FIXED ASSET INVESTMENTS

Company

FIXED ASSET INVESTMENTS
Company
Shares in
group
undertakings
MARKET VALUE
At 1 August 2021 2
At 31 July 2022 2
NET BOOK VALUE
At 31 July 2022 2
At 31 July 2021 2

There were no investment assets outside the UK.

The company's investments at the balance sheet date in the share capital of companies include the following:

Whirlow Hall Farm Limited

Registered office: Whirlow Hall Farm, Whirlow Lane, Sheffield, S11 9QF Nature of business: retail sales

%
Class of share:
holding
Ordinary
100
Aggregate capital and reserves
Profit/(loss) for the year		 2022
£
(6,993)
(25,864)		 2021
£
18,661
32,599

27

WHIRLOW HALL FARM TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022

18.
STOCKS
Group
Finished goods
STOCKS
Company
Finished goods
19.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Group
Trade debtors
Other debtors
Social security and other tax
VAT
Prepayments and accrued income
Prepayments
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Company
Trade debtors
Amounts owed by group undertakings
Other debtors
Social security and other tax
VAT
Prepayments and accrued income
Prepayments

28

WHIRLOW HALL FARM TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022

20. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Social security and other taxes
VAT
Pension creditor
Credit card
Other creditors
Accruals and deferred income
Accrued expenses
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Company
Trade creditors
Pension creditor
Credit card
Accruals and deferred income
Accrued expenses
22.
MOVEMENT IN FUNDS		 2022
£
55,571
3,185
11,270
1,771
2,452
3,300
97,162
38,729
213,440
2022
£
36,160
1,328
2,452
78,399
13,034
131,373		 2021
£
62,914
,
-
1,786
1,104
2,104
22,767
29,385
120,060
2021
£
44,732
1,348
1,104
10,591
18,597
76,372		 2021
£
62,914
,
-
1,786
1,104
2,104
22,767
29,385
120,060
2021
£
44,732
1,348
1,104
10,591
18,597
76,372
76,372
Unrestricted funds
General fund
Designated funds
Restricted funds
Restricted Fund
TOTAL FUNDS		 At 1/8/21
£
400,694
1,101,688
1,502,382
191,087
1,693,469		 Net
movement
in funds
£
(134,986)
150,000
15,014
206,285
221,299		 Transfers
between
funds
£
19,004
217,784
236,788
(236,788)
-		 At
31/7/22
£
284,712
1,469,472
1,754,184
160,584
1,914,768

29

WHIRLOW HALL FARM TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022

22. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Designated fixed asset fund
Restricted funds
Restricted Fund
TOTAL FUNDS		 Incoming
resources
£
1,176,011
150,000
1,326,011
243,918
1,569,929		 Resources
expended
£
(1,310,997)
-
(1,130,997)
(37,633)
(1,348,630)		 Gains and
losses
£
-
-
-
-
-		 Movement
in funds
£
(134,986)
150,000
15,014
206,285
221,299

Comparatives for movement in funds

Unrestricted funds
General fund
Designated fixed asset fund
Restricted funds
Restricted Fund
TOTAL FUNDS		 At 1/8/20
£
390,275
810,056
1,200,331
166,401
1,366,732		 Net
movement
in funds
£
(4,978)
280,000
275,022
51,715
326,737		 Transfers
between
funds
£
15,397
11,632
27,029
(27,029)
-		 At
31/7/21
£
400,694
1,101,688
1,502,382
191,087
1,693,469

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Designated
Restricted funds
Restricted
TOTAL FUNDS		 Incoming
resources
£
987,095
280,000
1,267,095
128,680
1,395,775		 Resources
expended
£
(992,072)
-
(992,072)
(76,965)
(1,069,037)		 Gains and
losses
£
(1)
-
(1)
-
(1)		 Movement
in funds
£
(4,978)
280,000
275,022
51,715
326,737

30

WHIRLOW HALL FARM TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022

22. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Designated fixed asset fund
Restricted funds
Restricted Fund
TOTAL FUNDS		 At 1/8/20
£
390,275
810,056
1,200,331
166,401
1,366,732		 Net
movement
in funds
£
(139,964)
430,000
290,036
258,000
548,036		 Transfers
between
funds
£
34,401
229,416
263,817
(263,817)
-		 At
31/7/22
£
284,712
1,469,472
1,754,184
160,584
1,914,768

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Designated fixed asset fund
Restricted funds
Restricted Fund
TOTAL FUNDS		 Incoming
resources
£
2,163,106
430,000
2,593,106
372,598
2,965,704		 Resources
expended
£
(2,303,069)
-
(2,303,069)
(114,598)
(2,417,667)		 Gains and
losses
£
(1)
-
(1)
-
(1)		 Movement
in funds
£
(139,964)
430,000
290,036
258,000
548,036

In accordance with their wishes, we have a policy of withholding the names of personal donors; their incredible generosity – totalling over £168,000 this year in donations and legacies - remains anonymous for the purposes of these accounts. But we are grateful to every single one of them for their support; the progress we have been able to make at the Trust this year, including developing its facilities, simply would not have been possible without them.

We have also received a significant number of donations from organisations. Again, we are incredibly grateful that, at such a challenging time for businesses and community groups, they have supported the Trust in its goals. In addition to those that have specifically asked to remain anonymous, we have received donations from the following:

Abbeydale Rotary (£10,000), B Braun (£500), CMS Cameron McKenna Nabarro Olswang LLP (£500), DC Training (£500), Durham Duplex (£500), England Land Estates (£500), Field Enterprise (£500), GRI Group Ltd (£10,000), Gripple Ltd (£500), Henry Boot (£1000), Horbury Property Services Ltd (£3320), Just Giving (£1576), Mark Jenkinson (£500), Opex Consultancy (£750), Pyronix (£2000), Serrations Ltd (£500), Sheffield & District Association for Disabled (£1000), Taylors’ Eye Witness (£500), Vulcan Rotary (£610).

31

WHIRLOW HALL FARM TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022

MOVEMENT IN FUNDS - continued

Finally, we have received grants from a wide range of Trusts and Foundations, many of them long-standing supporters of the Trust. We are so grateful that they continue to provide vital funds for general running costs, and for specific purposes. In addition to organisations who have specifically asked to remain anonymous, we have received grants from the following organisations:

Unrestricted Grants:

Hyman Winstone Foundation (£500), Fitton Trust (£300), The Alchemy Foundation (£500), The Charles and Elsie Sykes Trust (£2,000), The James Neill Fund (£1,500), Baker Family Trust (£500), The Pewterers Seahorse Trust (£10,000; first year of a three year commitment), Webmart (£100), Aviva Give as You Earn (£250), Elsie Lawrence Charitable Trust (£650), Nineveh Charitable Trust (£5,000), Sheffield Bluecoat and Mount Pleasant Educational Foundation (£1,000), Ormonde Charitable Trust (£500), Liz and Terry Bramall Foundation (£3,000), Charles and Elsie Sykes Trust (£3,000), The 29th May 1961 Charitable Trust (£3,000), The Davis Foundation (£1,000).

Grants restricted to education purposes:

Yorkshire Agricultural Society (£2,000), The Holbeck Trust (£3,000), The Pewterers Seahorse Charitable Trust (£200), Tesco Groundworks (£1,000), Freshgate Trust (£2,000), Openwork Foundation (£10,000), BNI Foundation (£1,000), Michael Woodhead (£100), Ryklow Charitable Trust (£5,000), South Yorkshire Police and Crime Commissioner (£2,500), D'Oyly Carte Charitable Trust (£4,000) Coop Community Grant (£467.92), Iron Bridge Trust (£2,000), William Dean Countryside Trust (£1,000), Sheffield Grammar School Exhibition Foundation (£2,500), The A & E Education Trust (£1,000), The Pixel Fund (£5,000).

Grants restricted to specific items:

Council Ward Pot (£1,000; Teaching Kitchen), Hedley Foundation (£1,000; items for Whirlow LIFE and IT), Mark Benevolent Fund (£20,000; Residential Hall Bedrooms), Swann Morton (£1,000 for IT), The Swire Charitable Trust (£25,000 year one of three year grant for Learning Kitchen tutor salary).

TRANSFERS BETWEEN FUNDS

A transfer has been made from restricted funds to unrestricted (designated) funds for the net book value of fixed assets where the conditions of funding have been fulfilled.

A transfer has been made from restricted funds to unrestricted funds where the conditions of funding have been fulfilled and expenditure in excess of the donation has been made.

A transfer has been made from unrestricted funds to unrestricted (designated) funds for depreciation charged on assets held under the designated funds.

23. RELATED PARTY DISCLOSURES

The charitable company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Gripple Limited

Gripple Limited is a related party as a trustee of the Trust, Hugh Facey, is also a director of that company. During the year the Trust received income of £11,900 (2021 £1,127) in respect of event sponsorship and donations. At the balance sheet date, amounts of £nil (2021 £nil) were due to or from the company.

Trustees

During the year, trustees made donations to the charity totalling £102,250 (2021 £204,100).

32

WHIRLOW HALL FARM TRUST LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2022

INCOME AND ENDOWMENTS
Donations and legacies
Individuals
Charitable foundations
Legacies
Corporate donations
Gift Aid
Other trading activities
Farm operations
Shop & cafe operations
Investment income
Interest receivable
Charitable activities
Education
Fundraising and events
Other income
Coronavirus Job Retention Scheme
Total incoming resources
EXPENDITURE
Raising donations and legacies
Wages
Social security
Pensions
Event costs
Premise costs
Other trading activities
Direct shop & cafe costs
Direct farm costs
Wages
Social security
Pensions
Premise expenses (farm)
Carried forward		 2022
£
264,456
120,283
13,735
50,735
52,054
501,263
31,682
773,891
805,573
205
208,076
54,215
262,291
597
1,569,929
49,603
3,498
1,111
16,845
3,576
74,633
286,349
97,742
325,174
16,641
3,225
9,308
738,439		 2021
£
344,833
218,430
9,000
29,160
66,981
668,404
39,474
482,252
521,726
33
129,863
4,339
134,202
71,410
1,395,775
48,748
3,321
1,344
3,549
8,957
65,919
196,782
87,064
200,546
10,340
3,048
9,026
506,806

33

WHIRLOW HALL FARM TRUST LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2022

Other trading activities
Brought forward
Other costs (shop & cafe)
Amortisation of intangible fixed assets
Depreciation of tangible fixed assets
Loss on sale of tangible fixed assets
Charitable activities
Wages
Social security
Pensions
Other costs
Educational costs
Depreciation of tangible fixed assets
Support costs
Management
Wages
Social security
Pensions
Other costs
Repairs and maintenance
Depreciation of tangible and heritage assets
Finance
Bank charges
Credit charges
Governance costs
Auditors' remuneration
Auditors' remuneration for non audit work
Total resources expended
Net income before gains and losses		 2022
£
738,439
27,326
1,071
36,839
3,066
806,741
146,823
10,709
2,442
4,416
7,782
54,232
226,404
72,648
6,076
1,525
87,268
7,218
23,870
198,605
407
13,963
14,370
8,980
18,897
27,877
1,348,630
221,299		 2021
£
506,806
29,675
1,071
49,002
(917)
585,637
140,092
6,928
2,239
1,586
9,957
21,240
182,042
64,445
4,273
1,686
106,084
7,058
9,892
193,438
463
9,380
9,843
9,158
23,000
32,158
1,069,037
326,738

34

WHIRLOW HALL FARM TRUST LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2022

Realised recognised gains and losses
Realised gains/(losses) on fixed asset investments
Net income		 2022
£
-
221,299		 2021
£
(1)
326,737

35