REGISTERED NUMBER: 01509788 (England and Wales) MEANWOOD VALLEY URBAN FARM LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
MEANWOOD VALLEY URBAN FARM LIMITED INDEX TO THE FINANCIAL STATEMENTS Page Company Inforniation Report of the Management CommitteeDirectors Independent Examiners Report to the Members Statement of Financial Activities Balance Sheet 12 Notes to the Financial Statements Income and Expenditure Account 24-25 Management Infonnation 26
MEANWOOD VALLEY URBAN FARM LIMITED COMPANY INFORMATION PRESIDENT: R E Collins MBE MANAGEMENT COMMITTEEI DIRECTORS: P Ackroyd E M Ainge H J Bateman- Joint Chair N Carlton C G Follin- Joint Chair R A Jeffcoat D Meeson - Treasurer REGISTERED OFFICE: Sugarwell Road Leeds LS7 2QG BANKERS: Virgin Money Leeds City Branch 94-96 Briggate Leeds LSI 6NP Page I
MEANWOOD VALLEY URBAN FARM LIMITED COMPANY INFORMATION (continued) COMPANY REGISTERED NUMBER . 01509788 CHARITY REGISTRATION NUMBER . 510452 INDEPENDEiYf EXAMINER . Andrew Wilkinson FCA Malcolm Jones & Co Limited Accountants & Business Advisors West Hill House Allerton Hill Chapel Allerton Leeds LS7 3QB STAFFING . FULL TIME CHIEF EXECUTIVE OFFICER A Ogilvie HEAD OF LEARNING AND HOOF E Cooke LIVESTOCKJSMALL ANIMALS MANAGER A Sharp SHOPIRECEvfioN D Brown NIGHT SECURITY A Younger PART TIME BOOKKEEPERIADMINrrRAINER ADMINICOIVIMUNICATION COMMUNITY GROWERS S Brown R Akers B Lawson / A Graham l J Harris E Forsterl C Bell / E Brown I M Clayton A Larner / D Hague D Kershaw LEARNING DISABILITY SUPPORT LIVESTOCKASSISTANTS SHOPIRECEPTION Page 2
MEANWOOD VALLEY URBAN FARM LIMITED REPORT OF THE MANAGEMENT COMMITTEEIDIRECTORS The trustees are pleased to present their amual directors, report together with the financial statements of the charity for the year ending 31 March 2024 which are also prepared to rneet the requirements for a directors, report and accounts for Companies Act purposes. STATEMENT OF THE JOINT CHAIRS The charity has seen another busy year with lots of different activities taking place and lots of work carried out to ensure we continue to do all we can to achieve ow charitable objectives. We have attracted many members of the general public to the Fann once again as we open as a visitor attraction 362 days of the year enabling people to enjoy our facilities and outdoor spaces. We are very proud of the work we are doing to assist our group of around 30 adults with learning disabilities as part of our HOOF (Helping Out on The Farm) programme up to five days a week. The HOOF group are getting involved with caring for our farm animals and small animals, helping with food growing on theiT own raised beds, helping to maintain the site, and looking after our bird feeding areas. Our school projects Temain popular with primary schools from across Leeds and beyond who come to the Farm for a day or half day project linked to the national eurriculum around five subjects- Sustainability, Composting, Rocks and Soils, Discovering Habitats and Horrible Histories as well as our very popular Apple Days where chil(Iren getting involved with juicing some of our home- grown apples. Our market gaTden staff and volunteers have once again been working hard to grow and harvest delicious chemical free vegetable5 and fruit on our l-acre market garden. Most of the produce from the market garden reaches local peopLe via our Community Supported AgricultUTe veg box scheme. as well as being sold into Leeds based cafes and restaurants, in the Barn Cafe at the Fam and surplus produce goes to the Rainbow Junktion community cafe in Headtngley who turn it into healthy nutritious meals for anyone on a pay as you feel basis. We have continued to run our regular Management Committee meetings thToughout this year. including the subcomrnittee structure that helps to give extra ov¢rsight and governance of the OTganisation. The Management Committee continues to monitor and caTry Out actions to ensure the good fmancial rnanagernent of the orgaDisation. This has included continuing the approach that requires the organisation to do all it can to finish ea¢h financial year with a surplus thaL in the first instance can be used to replenish our reserves. We have a risk register in place which the management COTnmittee and sub Committees are overseeing on a Tegular basis. Trustees and staff have been looking at refreshing our vison, mission. values and are in the process of developtng a masterylan for the next stage of the charity's journey. We are grateful to all the trustees for theiT hard WOTk and dedication once again this year. We would also like to thank all staff, volunteers, service useTS, nderS and partners who have contributed in so many ways to keeping the charity going this year. Cath Follin and Helen Bateman, Cfrchairs Page 3
MEANWOOD VALLEY URBAN FARM LIMITED REPORT OF THE MANAGEMENT COMMITTEEIDIRECTORS CHIEF EXEcufIvE'S REVIEW I would like to thank everyone who has helped us through another year here at the Fam] including the staff team, our tntees. volunteers, HOOF team, Fam] members. supporters and fijnders. The Farni has been a hive of activity over this 12-month perTod with all our projects being busy once again such as our HOOF programme for adults with learning disabilities. OUT work with the many schools who have enjoyed visiting the Fann foT a day to work with our education team on a different part of the national curriculum. We are also happy to host OUT local school, Carr Manor Cornmunity School, who use the fann on a weekly basis for curriculum enrichment with their pupils. We have had a varied range of activities and events taking place at the Fann including our Summer Fair and Christmas Market, which we have trialled ruTLning on a pay as you feel basis so as to be accessible to as many people as possible. OUT on-site businesses, in addition to bringing rental incorne to the charity, are bringing new audiences to the farm. These include basket weaving WOTkshops, pottery workshops, fllst aid training and woodworking opportunities. OUT two pern]anent forest schools operating at the fami have for another year provided solace and fun to parents and toddlers alike- thank you Sarah and Rebecca for providing these opportunities for so many people. We hold weekly baby yoga classes and sing and sign classes at the Fann and pop-up events such as Northern Opera GTOUP holding a mini opera under our barn and dance classes taking place outside in OUT coppice areas. The "men in shed's" style project based at the Farni aimed at Teaching out to socially isolated men in the area Tun by local Meanwood charity, Interact, has seen a number of men get involved in making wooden products for sale at the same time as developing friendship between the group. The Fartn regularly engages in local and city-wide initiatives including the Meanwood InteTagency Meeting and My Meanwood, Feed Leeds. the Leeds Green Activity Providers Forum, Leeds Parks and Green Spaces Forum. I would like to say a very big thank you to our staff team for their hard work. energy, ideas and enthusiasm once again this year, without which w¢ would not be able to progress and do the amazing work we do. A big that]k you to the Bam Cafe located at the Farni who offer delicious food and coffee/tea and continue to be a popular destination for many people. We are lucky to have a group of very committed volunteers who help us to maintain our site and I would like to thank them for all their hard work and dedication. We very much appreciate it. And thank you to all of our Farni Mernbers, including those who kindly renew each yeaT. for their ongoing support and financial Contribution. which is very much appreciated by the Charity. The Fami's trusfres give very many hours of support to the charity throughout the year, in different ways. all of which adds great value. I very much appreciate this support and for all the guidance and advice that they give in meetings, sub committees and in person. Finally thank you to everyone who has supported us this year includintr the following funders . LIVESTOCK & EQUIPMENT 2023124 5.000.00 Wades Page 4
MEANWOOD VALLEY URBAN FARM LIMITED REPORT OF THE MANAGEMENT COMMITTEEIDIRECTORS LOWER COURTYARD IMPROVEMENTS 2023124 1,000.00 Margaret Swan HORTICULTURE MG 2023124 2.500.00 Nineveh Trust 1,000.00 HDH Wills 1,500.00 SMB Trust 5,000.00 Sovereign Health 5.000.00 Finnis Scott 5,000.00 Haramead Trust 5.000.00 Southall Trust PLAYSCHEME 202J124 4.574.00 Inner North East GRA]S/DoNATIONs 2023124 6,500.00 Garfield Weston Foundation i25.00 Charles Brotherton Trust 2.000.00 Sir GeoTge Martin Trust 3,996.80 Estate of Barry Turner 1,000.00 G Maud Rushbond PLC 200.00 Mice Money 414.00 Harriers 5,000.00 Harrison Potter SUPPORT RECEIVED FROM . Leeds City Council THANK YOU ALL FOR YOUR AMAZING SUPPORT Adam Ogilvie, Chief Executive STRUCTURE, GOVERNANCE AIYD MANAGEMENT GOVERNING DOCUMENT The concept of developing a city fam] in Meanwood, Leeds was the inspiration of community workers in 1979 and coincided with the establishment of the City fann movement nationally. This enthusiastic and detennined group brought togetheT volunteers to progress this vision. Land was leased from Leeds City Council and the Meanwood Valley Urban Farni opened on the l April 1980. Page 5
MEANWOOD VALLEY URBAN FARM LIMITED REPORT OF THE MANAGEMENT COMMITTEEIDIRECTORS The organisation was incorporated as a company limited by guarantee and not having a share capital {Company registration 1509788) on the 29 July 1980 and registered as a charity (charity No. 510452) on 18 September 1980. In the event of the company being wound up members are required to contribute an arnount not exceeding £ l. The charitable company was established under a Memorandum of Association which established its objects and poweis and is governed under its Articles of Association. The Fann holds an aoreement for a Fann Business Tenancy (fIxed tem]) with Leeds City Council for a terni of 50 years from the I l April 1997. The 24-acre site is located 2 miles north of the centre of Leeds. THE MANAGEMENT COMITTEE AND ORGANISATIONAL STRUCTURE The directors of the company are also charity trustees for purposes of charity law and under the company's Articles are known as members of the Management Committee. Under these Articles. Members of the Management Committee are elected annually at the Annual GeneTal Meeting from aTnongst the FaTm's membership. The Articles provide for there to be up to 10 mernbeTS on the Management Committee. of which 4 are designated as office holders. During the year, the Management Committee does have the right to COwOPt additional persons on to the Board to fill vacancies, plus up to tee persons to provide special expertise. The Management Committee keep under review its skill mix, with the Current committee having a broad range of professional, business, and educational skills and experiences. Most Trustees have been involved with the Fann prior to being elected onto the Management Committee and new COTnmittee metnbers are given an induction to the Farn] by the Chair and the Chief Executive as well as being PTovided with inforn]ation as to the role and responsibilities of charity trustees. All Trustees give their time freely and no trustee remuneration was paid in the year. The Management Committee meets on a regular basis and is responsible for strategic policy setting and decision-making including reviewing and monitoring the activities of the Fann. The WOTk of the Management Committee is also supported by three sub committees which allows for a more in depth review of a number of key areas in the running of the Farn]. Day to day operational management is delegated to the Chief Executive who in 1xm) is supported by a senior managernent team. During 202312024 the Farm was a member of the city farn] network known as Social Fanns and Gardens. The Directors who have held office during the whole of the period from l April 2023 to the date of this report are as follows: P Ackroyd E M Ainge H J Bateman N Carlton C G Follin R A Jeffcoat D Meeson U J Slaughter- resigned 27 November 2023 Page 6
MEANWOOD VALLEY URBAN FARM LIMITED REPORT OF THE MANAGEMENT COMMITTEEIDIRECTORS Related Parties For a llumber of years, the Farn] has had a close relationship with Leeds City Council. In addition, to being the Farn]'s landloTd, the City Council also provides significant funding by way of grants and contracts for providing services to the community. One of the Farn]'s trustees is employed by Leeds City Council, anotheT runs a company that provides fst aid training to the Fami. OBJECTIVES AND ACTIVITIES FOR PUBLIC BENEFIT The Faml's objects and principal activities are.. Leisure and recreation promoting the benefit and well-being of all persons in the locality by providing a leisure and recreational facility. Education and training - advancing general environmental education and awareness and the PTovision of education and training for persons so as to prepare them foT any trade, occupation. or service. The Trustees conf]rni that they have complied with the duty in section 17(5) of the 201 I Charities Act to have due regard to guidance published by the Charity Commission relating to public benefit when reviewing the Charity's aims and objectives and in planning future activities. The Farni mainly relies upon grants and incorne from educational and training activities. but does also generate some income from admission charges, events, TOOM hire, cafe, agricultural sales. and fam shop. In setting the level of fees chaTges and concessions, the Trustees give care] consideration to the accessibility of the Farm to those on low income. The Fann's strategy is to deliver its objectives by.. Ensuring that school children and city dwellers have access to a rural experience. Developing environmental initiatives and interpretation. Consolidating existing and developing new partnerships to deliver quality learning experiences to socially excluded groups. Providing an enviTonment where our people can achieve their potential and so enhance our comTnunities. Focusing on quality as seen by our Customers and delivering a consistent and safe service. Our values are Being proactive in developing services to the community to addTess social exclusion. Acting with trnst and integrity. Valuing our people, using their creativity to innovate and bring about continual improvelnent. Behaving with clarity, trust, and openness, encouraging participation, and giving support when needed. Positively addressing social excLusion and ernpowering individuals to achieve their potential. The Fann is committed to the safeguarding of children and vulnerable adults who attend the Farm as either customers who participate on our various training programmes or visitors and has developed appropriate policies and procedures accordingly. Page 7
MEANWOOD VALLEY URBAN FARM LIMITED REPORT OF THE MANAGEMENT COMMITTEEIDIRECTORS FINANCIAL REEw The Farni during 202312024 made an unrestricted surplus of £25.534 (202212023 deficit of £22,030). At 31 March 2024, the Fann's unrestricted reserves stood at £97.847 (20221202J was £72,313). The Faml's main sources of incorne continue to be public bodies, including Leeds City Council, although income from other sources is becoming increasingly more important. Most of the Farn)'s income and expenditUTe is in support of its two main charitable activities as summarised below .' 2024 Unrestricted Ipcome Expenditure Transfer Surplusl (Deficit) Leisure & Recreation 84,693 (125,576) (40,883) Education & Training 211,199 (268,438) (57,239) All other activities 177,560 (5),904) 123,656 TOTAL 473,452 (447,918) 25,534 The Farni during the year has seen a welcome retum to surplus. The Management Committee in setting the 202312024 budget had to make several difficult decisions whilst at the sarne time setting ambitious targets to expand a number of our activities, but these have provided an opportunity to replenish the Fam's reseTves and to provide a greater degree of financial resilience moving fonvard. Income overall in 202312024 was up by £90,8 l2 in comparison to 202212023, whilst expenditure was up by just £43,248 compared to the previous year, resulting in an overall surplu5. ITJcome from Education and Training was up by £70,678, and income from admissions was a150 up by £5,540. lllcome from all other activities was up by £14.594. This includes a donation frorn the recently established MVUF Enterprises Limited, which previously would have been shown as income from the market garden, and which ha5 also resulted in a reduction in the cost of Livestock and Produce. Shop sales were up by £2.128 which helped to generate a shop surplus of £1,840. The overall increase in expenditure is more than accounted for by the increase in staffing costs of £58,658. Stationery and computer costs were up by £3,054 whilst the cost of insurance was up by £2,581 in comparison to previous year. Utility ¢OSts were also up by £5,118. These increases were partly offset by a reduction of £14236 in maintenance costs. The restricted funds consist of capital and income funds and are summari5ed below: 2024 Restri¢t¢d Ba12nee 1.4.23 Income Expenditure Transfer Balance 31.3.24 Capital Funds 473,763 (22,924) 450.839 Income Funds 22.661 48,692 (56.570) 14,783 TOTAL 496,424 48,692 {79,494} 465,622 The capital restricted funds represent capital grants and contributions that the Farm has received to finance the acquisition and enhancetnent of fixed assets which are subject to depreciation. As such the balance on these accounts represents the extent to which these capital grants and contributions have not been written back. The income Testricted funds Tepresent income that the Farm has received which is eamiarked for specific projects. The balance as at 31 March 2024 represents unexpended Tes0CeS that are earniarked to fund future expenditure on the project. Page 8
MEANWOOD VALLEY URBAN FARM LIMITED REPORT OF THE MANAGEMENT COMMrrTEEtDIRECTORS (continued) RESERVES POLICY The Farni's free reserves at the 31 March 2024 stood at £83,104 (202212023 was £55,053). The Management Committee have reviewed its previously established reserves policy and have detern]ined that the level of reserves should now be in the order of £120.000. At this level, the Management Committee feel that they would be able to continue the current activities of the Fann for a period of time in the event of a significant drop in funding, whilst considering how funding would be replaced or activities changed, or alternatively to allow for an orderlv closure. The Management Committee is aware that free reserves as of 31 March 2024 are below the level set by its reserves policy. In accordance with its reserves policy, the Management Committee continue to take a variety of actions to control spending and to generate additional funding and remain confident in the Fann's financial viabilitv. STATEMEwf OF RESPONSIBILrfIES OF THE MANAGEMENT COMMfKTEE/ DIRECTORS The charity tteesIanageMent committee (who are also the directOTS for the purposes of company law) are responsible for preparing a trustees, annual report and financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice. Company law requires the trustees to prepare financial statements for each year. Under company law, the trustees must not approve the f1nancial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including the income and expenditure for the financial year. In preparing the financial statements, the trustees are required to: select suitable accounting polTcies and trien apply inem consistenuy. - make judoements and estimates that are reasonable and prudent; state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements" prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping adequate accounting Tecords that are sufficient to show and explain the company's trattsactions and disclose with reasonable accuracy at any time the financial position of the company and that enable them to ensure that the financial statements complv with the Companies Act 20.06. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Bv Order of the Management CommitteelDirectors Director Dated . 18 November 2024 Page 9
MEANWOOD VALLEY URBAN FARM LIMITED INDEPENDENT EXAMINERS, REPORT TO THE MEMBERS OF MEAIYWOOD VALLEY URBAN FARM LIMITED I report on the accounts of Meanwood Valley Urban Fann Limited for the year ended 31 March 2024 which are set out on pages I I to 23. Respective Responsibilities of Trustees and Examiner The trustees (who are also directors of the company for the purpose of company law) are responsible for the PTeparation of the accounts. The charity's trustees consider that an audit is not requÈred for this year under section 144 of the Charities Act 201 l or under part 16 of the Companies Act 2006 and that an independent examination is needed. The charity is required by law to prepare accrued accounts and I am qualified to undertake the examination by being a member of The Association of Chartered Certified Accountants. Having been satisfied that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to- examine the accounts under section 145 of the 2011 Act. to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5) of the 2011 Act. and to state whether particular matters have come to my attention. Basis of Independent Examiner's Statement My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view,, and the report is limited to those matters set out in the statement below. Independent Examiner's Statement In connection with my examination, no matter has come to my attention: (l) which gives me reasonable caus¢ to believe that in any material respect the requirernents- to keep records in accordance with s386 of the Companies Act 2006. and to prepare accounts which accord with the accounting records and to cornply with the accounting requirements of the Compani¢s Act 2006 and also to prepare accounts in accordance with the Charities SORP (FRS 102) and with the methods and principles set out in Charities SORP (FRS 102) have not been met. or (2) to which. in my opinion. attention should be drawn in order to enable a proper understanding of the accounts to be reached. Andrew Wilkinson FCA Independent Examiner West Hill House Allerton Hill Chapel Allerton Leeds LS7 3QB Dated . 18 November 2024 Pag¢ 10
MEANWOOD VALLEY URBAN FARM LIMITED STATEMENT OF FINANCIAL ACTtVITIES (including Statement of Comprehensive Income) for the Year Ended 31 March 2024 Notes 2024 2024 Unrestricted Restricted Funds Funds 2024 Total 2023 Total Incoming resources Income resources from generated funds Grants, donations, and legacies Activities for generating funds Incoming resources from charitable activities Interest received on investments 80,440 92.597 48,692 129.132 92,597 127,920 130,643 295,892 4,523 295,892 4.523 219,674 1,489 Total incoming resources 473,452 48,692 522,144 479,726 Resources expended Costs of generating funds Costs of charitable activities GoveTnance costs 20,344 394,014 33,560 5,177 74,317 25,521 468,331 33.560 50,723 445,920 10 Total resources expended 447.918 79,494 527,412 523,028 Movement in funds for the year Net Ancorne before transfers 25.534 (30.802) (i,268) (43,302) Transfers Net movement in funds for the year 25,534 (30,802) (5,268) (4J,302) Other comprehensive income Total comprehensive income for the year 25,534 (30,802) (5.268) (43.302) Reconciliation of Funds Total funds brought forward 72,313 496,424 568,737 612,039 Total funds carried fonvard 97,847 465,622 563,469 568.737 All the above results are derived from continuing activities and there have been no acquisitions duTing the year. The notes forn] part of these financial statements. Pagell
MEANWOOD VALLEY URBAN FAIIM LIfvUTED (Registered number 01509788) BALANCE SHEET At 31 March 2024 Notes Total 2024 Total 2023 FIXED ASSETS Tangible assets Investments 12 13 465,482 100 491,023 465 582 491023 CURRENT ASSETS Stocks Debtors Cash at bank and in hand Prepaymepts and other debtors 14 15 7,828 9,340 77,921 2,979 30,693 69,646 4,982 113,639 CREDITORS Amounts fallin- due wÈthin one year 98,068 16 15,752 20,354 ET CURRENf ASSETS TOTAL ASSETS ISs CURRENr LIABILTfIES 563.469 568.737 Unrestrictcd funds Restricted funds 18119 17/19 97.847 465,622 72,313 496,4?4 568 737 For the financial year ded 31 March 2024 the company was entitled to exemptlOD from audit under section 477 of the Companies Act 2006 relatÈng to small companÈes. No members have required th¢ ompany to obtain an audit of its accounts for the year ended 31 March 2024 in accordance with section 476 of the Companies Act 2006. The directors acknowledoe their Tesponsibility for complyino with the requirements of the Act with respect to accounting records and for th¢ prepalon of accounts. These financial statements have beerA prepared in accordance with the provisions applicable to coPanicS subject to th¢ small companies, regime and constitute the annual accounts required by the Companies Act 2006 and 2Te for circularisation to mcmbets of the company. OIN BEIIALF OF THE BOARD: D Meeson - Treasurer Approved by the Management Committee on 18 November 2024 These notes forni part of these financial statements Page 12
MEANWOOD VALLEY URBAN FARM LIMITED NOTES TO THE FINANCIAL STATEMENTS For the Year Ellded 31 Marcb 2024 COMPANY INFORMATION Meanwood Valley Urban FaTm Ltd is a charitable company, limited by guarantee, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information pages. ACCOUNTING POLICIES Basis of Preparation The financial statements have been prepared in accordan¢¢ with Accounting and Reporting by Charities= Staternent 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), the Charities SORP (FRS 102), the Companies Act 2006 and the Charities Act 2011. The company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless othe19e stated in the relevant accounting policy note(s). Preparation of the accounts on a going concern basis The trustees consider there are no material uncertainties about the company's ability to continue as a going concern as described in the Reserves Policy section. Incoming resources Income is recognised in the period in which the charity is entitled to receipt and the amount can be me&sured with Teasonable certainty. Income is defeed only when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a fiJture period. Grants receivable for revenue eipenditure Grants from the local government and other agencies have been included as income from activities in furtherance of the charity's objectives where these amount to a contract for services. Donations receivable for capital expenditure Donations and gifts are recognised in the Statement of Financial Activities when the conditions for receipt have been complied with. Activities to generate funds Activities to geneTate funds are accounted for when the conditions for their receipt have been rnet. Investment ineome Investment income is accounted for when receivable. Resources expended and basis of allocation of costs Expenditure is included when incurred and includes attributable VAT which cannot be recovered. Expenditure on opeTational PTogrammes is recognised in the per20d in which it is tncurred. A designated fund is established for expenditure which has been cornmitted to projects but remains unspent at the year end. The majority of costs are directly attributable to specific activities. Certain shared Costs are apportioned to activities in furtherance of the objects of the charity. Staff costs are allocated according to the costs of staff working directly in the relevant departments. Page 13
MEANWOOD VALLEY URBAN FARM LIMITED NOTES TO THE FINAIYCIAL STATEMENTS For the Year Ended 31 March 2024 ACCOUNTING POLICIES (eontinued) Governance Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to statutory audit and legal fees together with an apportionrnent of overhead and support costs. Alloeation of overhead and support eosts These costs, which include staff Costs and premises costs and other day to day costs of the charity are apportioned between the two core activities on the basis of estimated time and cost spent on each activity. Fund-raising costs Funds held by the charity are: Unreslrictedgeneralfvnds- these are funds which can be used in accordance with the Charitable objects at the discretion of the ttees. Such funds may be held in order to finance both working capital and capitaI investment, as well as funding under-funded projects. Restrictedfunds- these are funds that 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 explanalion of the nature and pury)ose of each fund is included in the notes to the accounts. Tangible fIxed assets In the main fixed assets in Previous years when acquired were written off against the receipt of capital expenditure grants. From l April 1996 expenditure on fixed assets has been capitalised. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Buildings Plant and equipment Motor vehicles 4% on straight line 150/0 on reducing balance 250/0 on reducing balance Stocks Stock has been valued at the lower of cost and net realisable value on the first in, first out basis, onsistent with prior years. Repairs and renewals are charged directly against revenue. Taxation The charity. being a registered charity, is exernpt from the payment of incorne and corporation tax. Pension Cost The charity operates a Stakeholder Pension Scheme which is accessible to staff. LIABILrrY OF MEMBERS Meanwood Valley Urban Farm Limited is a company limited by guarantee and the members, liabilities are limited to £1. NET INCOMING RESOURCES The net incoming resources are stated after charging: 2024 2023 Depreciation on owned assets Independent examiners fees 25,541 4,916 26,483 4,580 Page 14
MEANWOOD VALLEY URBAN FARM LIMITED NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 March 2024 GRANTS, DONATIONS AND LEGACIES 2024 2024 Unrestricted Restricted Unrestricted Restricted Just Giving Gift Aid Donation Inner North East Community Committee Fund (Playscheme) Inner North East Community Committee Fund (Tables) Jonathan Maud Rushbond PIC Wades Charity Sovereign Health Care Margaret Swan Hyde Park Harriers Charles Brotherton Trust Garfield Weston Foundation Sir George Martin Trust Estate of Barry Tumer Nineveh Trust HDH Wills SMB Trust Finnis Scott Haramead Trust Southall Trust HalsOn Potter MiGe Money {Cllr Julie Hesslewood) Advent Development Limited Dr John W Mooney {Private Donor) Social Enterprise Support Fund Leeds Digital Inclusion (Leeds Community Foudation) Kate Parkins Ernest Cook Kick5tart HSBC UK Coflux Global CLA Charitable Trust D'oyley BW Leoal Mencap Georgina Maud {Peak District Ultra Challenge) Yorkshire Building Society Calmcott Trust Hillards W W Spooner Charitable Trust Peter Chadwick Charitable Trust Other Donations and Gifts 19,054 38,901 7,512 4,574 4,584 2,763 1,000 1,000 5.000 5.000 1.000 1.000 414 325 6,500 400 300 2,000 3,997 2.500 1,000 1,500 5,000 5,000 5,000 5,000 200 2,600 24,000 18,360 10,000 10,000 9.068 6,511 6,000 5.000 4,000 4,000 2.298 1,900 1,500 1,000 1,000 1,000 500 265 10.249 555 80.440 Page 15
MEANWOOD VALLEY URBAN FARM LIMITED NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 March 2024 ACTIVITIES FOR GENEIL4TING FUNDS 2024 2024 2023 Unrestricted Restricted Unrestricted Restricted Livestock and produce account Education services Events Cafe recharges Shop and bike income Subscriptions Rental incorne 8,499 11,914 5,076 10,200 40,924 22,274 4,118 10,200 28,645 8,109 16,373 8,513 16,970 92,597 130,643 INCOMING RESOURCES FROM CHARITABLE ACTIVITIES 2024 2024 2023 202) Unrestricted Restricted Unrestricted Restricted Leisure and recreation Visitor fees Leeds City Council . General grant 40,549 44,144 35,009 44,144 84,693 Education and training Delivery of training and development programme Reconnect+ HOOF Agriculture Forest Project 77,440 39,665 90,694 3,400 76,875 14.700 47.146 1,800 211,199 140,521 295,892 219,674 Page 16
MEANWOOD URBAN VALLEY FARM LIMITED NOTES TO THE FINANCIAL STATEMEiYrs For the Year Ended 31 March 2024 FUNDRAISING TRADING COSTS 2024 2024 2023 2023 Unrestricted Restricted Unrestricted Restricted Livestock and produce account Education services Events Visitor admission costs Shop purchases 10,947 320 878 82 8,117 5,177 22,946 1,179 950 68 8,919 16.661 20,344 5,177 34,062 16.661 CHARrrABLE EXPENDITURE 2024 2024 2023 Unrestricted Restricted Unrestricted Restricted Leisure and recreation Staff costs Reconnect+ Cornmunication and meeting costs Farrn maintenance costs Prernises costs Motor and travelling General support costs Depreciation 104.723 1,776 3,408 3,938 8,773 198 2,318 442 32,500 87.126 32,718 2,497 7,924 6,737 247 2,871 509 4,563 4.941 1,500 3,870 2,000 3,961 125,576 42,433 107,924 43,620 Education and training Staff costs Communication and meeting costs Farni maintenance costs Premises costs Motor and travelling General support costs Depreciation 218,348 8,762 10.127 22,558 508 5.960 2,175 6,074 181.657 6,421 20,377 17,321 20,585 4.175 2.581 19,054 7.381 2,508 17.987 19,505 268,438 31,884 236,300 58,077 394,014 74,317 344,224 101,697 Page 17
MEANWOOD VALLEY URBAN FARM LIMITED NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 March 2024 10. GOVERNANCE COSTS 2024 2024 2023 Unrestricted Restricted Unr¢stricted Restricted Staff Costs Accountancy and legal fees 26,006 7,554 21,636 4.749 33,560 26,385 11. DIRECT CHARITABLE EXPENDITURE 2024 2023 Costs.. Wages and salaries Social security Pension 353,491 28,747 5,413 314,298 23,891 5,533 J87,651 34J,722 Staff costs and numbers: There were no employees who earned £60,000 OT more (2023 - None) The average weekly numbeT of employees during the year was as follows:. 2024 2023 Chief Executive Training projects Security Retaivreception Administrationlsupport Weekend cover 13 20 21 The Management CommitteelDirectors did not receive any Temuneration or reimbursement of expenses. Page 18
MEANWOOD VALLEY URBAN FARM LIMITED NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 March 2024 12. TANGIBLE FIXED ASSETS IT and Epicentre Courtyard Outbuildings Garden Equipment Centre Access Works Total Cost At l April 2023 Additions Disposals 42.028 624,792 506,443 68,029 112,990 1,354,282 At 31 March 2024 42,028 624,792 506,443 68,029 112.990 1,354,282 Depreciation At l April 2023 Charge for year 21,800 461,350 7,141 280,573 11,293 47,290 52,246 863,259 25,541 Disposals At 31 March 2024 24,834 468.491 291.866 48,326 55,283 888,800 Net book value: At 31 March 2024 17,194 156,301 214,577 19,70J 57,707 465,482 At 31 March 202J 20,228 163.442 225,870 20.739 60,744 491,023 The Farni buildings which were built before 31 March 1996 weie not capitalised and as a Tesult, do not have a cost value in these accounts. They were included in the original lease or built with grant aid. All the buildings excluding land have a Teplacement value for insurance purposes of £4,500.000 (2023- £4,209,675). 13. FIXED ASSET INVESTMEiYrs Total Cost Additions loo At 31 March 2024 100 Net book value: At 31 March 2024 loo Page 19
MEANWOOD VALLEY ifRBAN FARM LIMITED NOTES TO THE FINANCXAL STATEMENTS For the Year Ended 31 March 2024 14. STOCK 2024 2023 Livestock on hand Shop goods for resale 5,504 2,814 5,573 2,255 15. DEBTORS- Amounts falling due within one year 2024 Trade debtors 16. CREDITORS- Amounts falling due within one year 2024 2023 Accruals 17. RESTRlCtED FUNDS Balance at MOVEMENT fN FtrNDS Balance at 31.3.24 Incorning resources Resources expended Transfers C2Pltal EpiCentr¢ Coutyard Centre Outbuildings CCTV Play ATea Picnic Tables IT and Equiprnent Education Equipment Garden Access Works IT Upgrade Income NIE Wellbeing Youth Activity Education Livestock Robert Collins Site Improvement Hen House Coutyard Improvernent Education Internship Training Market Garden Leeds Digital Inclusion HSBC 160,154 22),784 (6,9JO) (10,945) (1,036) (84) (115) (12) (5) (122) (3,037) (63 8) 153,224 212,839 19.703 474 2.547 272 29 647 57,707 3,397 558 2,662 284 34 769 60,744 4,035 7.i37 2.470 5.245 40 7.600 (7,3)7) (1.750) (5.177) 150 265 485 3,000 872 1,361 1,219 7.500 2.809 5.000 870 525 4,688 809 2,361 769 (5.912) (63) 1.000 (450) (32,500) (1,881) (1,500) 25.000 928 3,500 496.424 48,692 (79,494) 465,622 Page 20
MEANWOOD VALLEY URBAN FARM LIMITED NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 March 2024 17. RESTRICTED FUNDS {Continued) The capital restricted funds represent capital grants and contributions that the Farn] has received to finance the acquisition and enhancement of fixed assets which are subject to depreciation. The grants and contributions are released in line with depreciation charges, and the balances on these accounts thus Tepresent the extent to which the capital grants and contributions have not been written back. The income restricted funds represent income that the Fann has received which is earn]arked for spectfic projects. These include: The Education Fund was established for the development of the Farm's educational service, for the purchase of educational equipment and materials. It also includes funding received for an internship, the cost of which covers more than one year. The Livestock Fund was established to generate external funding for the purchase of farni animals and related equipment. The Robert Collins Fund was established foT the purchase of plants and equipment. The Site Improvements Fund was established for the purchase of equipment and repairs to the site. The Hen House Fund was established to raise funds to rebuild the Hen House. The Coutyard Improvement Fund was established to raise funds to improve the courtyard. The Education Internship Training Fund was established to raise funds to be us¢d for the training of the Farni's internee. The Market Garden Fund has been set up to raise external funds for the developtnent of the Farn]'s market garden and includes grants which have been successfully applied for which cover more than one financial year. The HSBC Fund relates to funding received from the HSBC bank to enhance the Farni's visitor experi¢nc¢ and support the Foffest School. Page 21
MEANWOOD VALLEY URBAN FARM LI1llTED IYOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 March 2024 18. STATEMENT OF CHANGES IN EQUITY 2024 2023 Surplusl(deficit) for the financial year (5,268) (43.302) Net inereasel(decrease} in equity (5,268) (4),302) Opening funds 568,737 612,039 Closing Funds 563,469 568,7J7 Realised funds Unrealised funds 563.469 568,7J7 563,469 568,737 Page 22
MEANWOOD VALLEY URBAN FARM LIMITED NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 March 2024 19. ANALYSIS OF NET ASSETS BETWEEN FUNDS Tangible fixed assets Cash at Bank Other assets and in hand (liabilities) Total Restricted Funds . Epicentre Courtyard Centre CCTV Outbuildings Play Area Picnic Tables IT and Equipment Education Equipment Garden Access Works IT Upgrade Education Livestock Robert Collins Site Improvement Hen House Courtyard Improvement Education Internship Training Market Garden Leeds Digital Inclusion HSBC 153.224 21? 839 19,703 474 2,547 272 29 647 57.707 3,397 153,224 212,839 474 2,547 272 29 647 57,707 3,397 870 870 333 525 4,688 809 2,361 769 525 4.688 809 2.361 769 928 3,500 928 3,500 450,839 14,783 465,622 Unrestricted Funds . 14,743 54,863 28.241 97,847 465,582 69,646 28,241 563,469 20. RELATED PARTIES The Management Committee acting in concert are able to exercise control over the company and are accordingly together, the Controlling Paty and individually, ar¢ Telated parties. No disclosures arKse in respect of transactions with members of the Management Committee and no members received any remuneration or expenses during the year. The company owns all of the shares in a trading cornpany. MVUF Enterprises Limited. The company received a Gift Aid donation from this entity in the year totalling £38.901. Page 23
MEAIYWOOD VALLEY URBAN FARM LIMITED INCOME AKD EXPENDITURE ACCOUNT For the Year Ended 31 March 2024 31.3.24 31.3.23 NET INCOME FROM OPEII4TIONS Delivery of training and development programme (see Dote l) 211,199 140,521 Leeds City Council - General grant Education services Grants. donations, and legacies Café recharges Events Farm Merchandise Shop income Bike sales Livestock and produce Interest received SubscTiPtions Visitors, fees Rental income 44,144 11,914 80,440 10,200 5.076 1,176 15,352 14,897 8,499 4,523 8.513 40.549 16.970 44,144 22,274 30,834 10,200 4,118 13,404 14,879 40,924 1.489 8,109 35,009 473,452 382,640 OVERHEAD EXPENSES Business rates and rent Water Farni insurance 1,042 2,640 15,174 2,818 9,657 14.065 2,617 1,470 1.733 12,593 2,544 5,720 28,301 i,017 Electricity Farm. other maintenance. and tools Depreciation of fixed assets 48,013 55,378 Wages and salaries Motor expenses Travelling expenses Telephone and internet 349,077 472 232 4,497 290,419 882 4,639 354,278 295,940 Carried forward 402,291 473.452 i51,318 382,640 This page does not forn] part of the statutory financial statements. Page 24
MEANWOOD VALLEY URBAN FARM LIMITED INCOME AND EXPENDITURE ACCOUNT For the Year Ended 31 March 2024 31.3.24 31.3.23 Brought fonvard 402,291 473,452 J51,318 382,640 Stationery, comput¢r and photocopieT Advertising Training expenses Cleaning Sundry expenses Education services Reconnect+ Farm merchandise Shop Purchases Bike parts Livestock and produce Events Functions and free issues Membershiplplots Accountancy and legal fees 7,204 469 1,546 5,000 1,730 4,150 130 329 4,776 5,143 1,179 13 451 7,111 1,776 7,219 902 10,947 557 321 82 7,554 22.946 701 249 68 4,749 45,627 5i,352 Total expenses 447,918 404.670 447,918 404,670 (DEFICIT)/SURPLUS ON OPEIL4TIONS 25,534 (22,030) Note I Delivery of training and development programrnes Reconnect+ HiTe of Epicentre Community care HOOF projects Forest Project 39.665 9,616 67,824 90,694 14,700 8,828 68,047 47,146 1,800 211,199 140,521 This page does not form part of the statutory financial statements. Page 25
MEANWOOD VALLEY URBAN FARM LIMITED MANAGEMENT INFORMATION For the Year Ended 31 March 2024 31.3.24 31.3.23 LIVESTOCK AND PRODUCE REVENUE ACCOUNT * Sales 8,499 40,924 Cost of Sales Stock at l April 2023 Purchases 5,573 10.878 6,028 22,491 16,451 (5,504) 28,519 (5.57J) Stock at 31 March 2024 (10,947) (22,946) Surplus/(deficit) (2,448) 17,978 SHOP Accouiyr * Sales 15,352 13,404 Cost of Sales Stock at l April 2023 Purchases 2,255 7,778 2,398 6.968 10,Oi3 (2,814) 9,366 (2,255) Stock at 31 March 2024 (7.219) (7.111) Surplusl(deficit) 8.133 6,293 Iyote . * Excludes associated salary costs Please note that the Income and Expenditure figures above are included separately in the Income and ExpenditUTe Account on pages 24 and 25. This page does not forn] part of the statutory financial statements. Page 26