Charity Registration No. 516925 Company Registration No. 01934024 (England and Wales) ACORN VENTURE ASSOCIATION AND ITS SUBSIDIARY ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
ACORN VENTURE ASSOCIATION LEGAL AND ADMINISTRATION INFORMATION Trustees A D Burke F C Hartshome R T Muspratt P E Prayle R V Rishworth (Appointed on 16 January 2025} C J Roderick APWare Secretary T J Trumble Charity number 516925 Company number 01934024 Registered office Acorn Venture Fami Depot Road Kirkby Knowsley Merseyside L33 3AR Independent Auditor JS. Audit Limited James House Stonecross Business Park Yew Tree Way Warrington Cheshire WA3 3JD Bankers National Westminster Bank PIC Aintree Black Bull Comer of Longmoor Lane and Cedar Road Aintree Liverpool L9 OEG
ACORN VENTURE ASSOCIATION CONTENTS Page Trustees, report Statement of Trustees, responsibilities 10 Independent Auditorfs report Consolidated statement of financial activities Group balance sheet 16 Company balance sheet 17 Consolidated statement of cash flows 18 Notes to the financial statements 19-34
ACORN VENTURE ASSOCIATION TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees have pleasure in presenting their annual report, which also contains the requirements of a directors. report under the Companies Act 2006, and the audited financial statements for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out in note and comply with the Charity's governing document, the Companies Act 2006 and "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 I"FRS102") leffeclive 1 January 20191. Legal and administrative details are provided on a separate information page at the front of these financial statements. Objectives and activities OurAim To provide a high quality. affordable and inclusive resource for the local community. We believe that everyone has a valued social role to play wtthin their community and therefore we provide opportunities for individuals with disabilities and young people to fully participate in the day to day running of the farm. Public Benefit We review our aims, objectives, and activities each year. We have referred to the guidance contained in the Charity Commission's Charities and Public Benefit document. Al of our charitable activities focus on the provision of skills developmenl and recreational opportunities for persons designated as having special needs and the promotion of other charitable purposes for the benefit of the community. A recent comment from a visitor which stated, Will definitely be back. Amazing value.. £15 for 2 adults, 2 kids and pel food- suggests that we are succeeding in providing public benefit. This annual report sums up what we have achieved and the outcomes of our work in the year to 31 December 2024. It looks at the success of each key aclivity and the benefits which they have brought to those groups of people which we are set up to help. Achievements & Performance a) Daytime Support Programme One of the major ways we fvlfil our aims is in the running of our very successful daytime activities programme for people with special needs. We currently provide 100 placements per week to 37 different individuals. This results in us having a maximum of20 individuals who we support attending the farm each day and ensures that each individual gains maximum benefrt from the time that they spend here. Most individuals now purchase the service through their personal budget. This is either done on Iheir behalf by the local authority via the Intemal Setvice Fund or by the individual themselves via a Direct Payment. However. we still have service level agreements for the provision of community support services with several local authorities. This service continues to be well attended and has been here for many years. This suggests that they are very happy at Acorn. The charity is well supported by its board of trustees and is led by a highly experienced and respected management team. Our dalme activities programme includes= Horticulture Horticultural activities range from the production and selling of bedding plants and hanging baskets to maintaining the sensory garden, lawns, and flower beds. Conservation activities include maintaining the woodland walk, which is widely used by visitors as our ovefflow car park is accessed through this area and the tree shelterbelt.
ACORN VENTURE ASSOCIATION TRUSTEES, REPORT- continued FOR THE YEAR ENDED 31 DECEMBER 2024 Fami Maintenance Farm Maintenance tasks around the farm site include building animal shelters, repairing benches and picnic tables, flagging, fencing, plumbing and painting. Animal Care Activilies include collecting and grading the eggs and feeding and mucking out the animals. During school holidays additional activities include assisting in the small animal petting sessions and giving horse rides to visitors to the fami. Although we have these three specific daytime support programmes Acorn Farm is a truly inclusive project. Therefore, individuals with disabilities are involved in every aspect of running the farm on a daily basis. Young People We conlinue to enable young people to volunteer al the fami at weekends. Under the supetvision of the Weekend Manager. they help to run the farm, carying out all the tasks from caring for the animals to helping with horse rides and in the small animal petting area. We have an average of eight young people who help out each day and a waiting list of those who would like to volunteer. Taking on these responsibilities enables them to develop their self-esteem and sense of pride in their community and consequently encourages them to become responsible citizens. b) Plant Sales We had another busy plant sales season. The high quality of the plants together with the competitive pricing and outstanding customer service has led to a large number of customers returning year after year. The success of this enterprise is a credit to our Horticultural Unit Manager Mike Taylor and his team. Although the vast majorrty of the plants are sold in the spring and summer we do have planls, tubs, baskets, and perennials on sale throughout the year. This enterprise is run parallel to the horticultural daytime programme. c) Livestock The fami's livestock continue to be a major atlraction for everyone involved. including our visitors. During the year 11 lambs were bom to our ewes which included 1 set oftriplets and 4 sets of Ins. Pearl the pygmy goat gave birth to Iwins, male and female. They were named Ryder and Ruby after Thomas Ryder {CEOI from Applied Nutrition. Doris the Gloucester Old Spot sow gave birth to a litler of 12 piglets and Mabel the Duroc cross sow gave birth to a litter of 8 piglets wrthin 3 weeks of each other in June. They were all identical, black and white, the spitting image of dad Billybob who is a Saddleback Boar. Watching them play provided much joy to all who saw them. Lola and Jimmy, the horses, continue to put plenty of smiles on little faces every weekend and during school holidays when they give horse rides to visiting children. The meerkal wntinues to be very popular and she keeps us busy filling in the holes she has dug. Our four miniature Southdown Sheep have now retired from going out to schools as part of our Animobile project. Annie (Herdwick) and Jasper (Ram) take it in tums now to go out to the schools. We purchased 2 new calves in July from Market Drayion Market. A Ix)mpetition was held on Facebook to name the calves,. the winning names were Boris and Bruce.
ACORN VENTURE ASSOCIATION TRUSTEES, REPORT- continued FOR THE YEAR ENDED 31 DECEMBER 2024 All the animals on the farm are cared for during the week by the people who we support and at the weekends by our young volunteers. The animal sponsorship scheme, which we operate, continues to be popular and helps us to offset the cost of keeping the animals. Sponsors are rewarded with a certificate, a visitorfs pass to the fann, a photograph of their animal, birthday and Christmas cards and a mention on the Roll of Honour on our website. We have extended the scheme to enable sponsors to add the cost of a bale of hay or straw or a bag of animal feed onto their sponsorships. d) Visitor Facilities and Attractions Horse Rides This activity is very popular with visitors. We do horse rides every weekend throughout the year as well as during school holidays. Bookings may also be made by groups during term time. During the period we were open the horses have given rides to 8,060 children. Small Animal Petting Sessions This attraction continues to be extremely popular with many repeat visitors. Over 21,546 people attended sessions during the period covered by this report. Activtlies include stroking a rabbit. guinea pig and a pet rat, holding a bantam hen, and feeding Toby, Teddy, and Paddy the pygmy goats. The petting area is open to visitors every weekend and bank holiday and every day during school holidays. e) Educational services All the activities below are promoted and delivered by our Education Worker, Marie Moulsdale. School VisitslGuided Tours We hosted 1,684 visitors from 48 establishmentswhich include mother and toddler groups, nurseries. and primary schools. Incubator Hire We have five incubators available for hire to schools and other registered groups. We supply the whole package including incubator. brooder, fertile eggs and feed. We are able to take the resultant chicks back where the hens join our laying flock producing free range eggs for sale in our shop. The incubators were hired out a total of six times over the 3-month period and 12 dozen eggs were distributed to schools with their own incubator. Animobile (Mobile Farm Unit) This is a hugely successful project whereby we take a selection of the farm animals out to groups in the community who would othetwise have difficulty accessing our servIs. These include children's centres, nursery schools, residential and nursing homes, and (x)mmunity fijn days as well as mainstream and special schools. The selection of animals taken includes a goat. sheep. hen, duck. rabbit. guinea pigs and pet rats. Lambs, goat kids, ducklings and chicks are also taken when available. Over the period covered in this report, the Animobile made 41 visits seeing a total of 2.735 people. Demand for this service always exceeds the number of sessions which we are able to deliver during our peak season. Animal Handling Workshops This topic is appropriate for secondary school pupils studying animal-based courses. Each group of students participates in an animal handling workshop which Gan include working with the horses, sheep and goats. The horse workshop entails learning about health and safety around horses before grLNJming and tacking up Lola and Jimmy and leading them around the arena. The sheep workshop entails the students safely fitting the hamess and lead rope on to the sheep and individually walking them around the field in a controlled manner. They then muck out the sheep shed and, using teamwork, herd the sheep into the shed.
ACORN VENTURE ASSOCIATION TRUSTEES, REPORT- continued FOR THE YEAR ENDED 31 DECEMBER 2024 The goat workshop entails looking at the different breeds of goat that we have on the farm. Safe and appropriate ways of handling and restraining them are demonstrated and praclised. A foot trimming demonstration is also given. Each group is given information aboutthe animalsthey areworking with and encouraged to ask questions. Fann themed Activity Days We held 7 'Farm Experience Days, and 3 'Horse Days, this year. They were attended by 94 young people who thoroughly enjoyed themselves. as well as leaming new skills. n Events Halloween This year we held our daytime event on the Friday of Halloween. Activities included Halloween themed games., Feed the ghost, Witches Broomsticks, Pin the nose onto the Skelelon, Splat the rat. We also held a fancy dress compelition. The lambing shed was converted into a fabulous spooky Haunted House with real live 'ghosts' and ghouls! The event was a huge SucsS with 756 people attending. We were greatly helped on the day by a team of corporate volunteers from Co-op, friends, and family of Acorn Farm's Staff. Christmas Grotto This was open for 3 weeks in the lead up to Christmas for pre-booked school visits and also over 2 weekends for visitors to the farm. The lambing shed was transformed into a magical grotlo by farm staff and volunteers. The grotto proved popular once again with 260 Children visiting from 7 schools and nurseries during the week. Over the weekends 238 children came to see Father Christmas and receive a gift. g) Visitors We had another successfvl year in terms of visitor numbers. During the e1Ve-mOnth period covered by this report we received 90.890 visitors. h) Awards We have been re-awarded the Wisit Britain" accreditation as a Quality Assured Visitor Attraction- receiving an overall score of 76 % which was an increase (up from 73 % ) from our last inspection. In the Visit England Annual Trends Report Survey. we were ranked Top 20 most visited paid attraction in the Northwest up with the likes of Knowsley Safari Park and Chester Zoo. We were also ranked 5th in the Go Outdoor survey as one of the most cost effective days out in England. i) Local Fundraising Our supporters continue to fundraise for us and Lady Derby who is our Patron continues to support us yeady. Thomas Ryder (CEO) from Applied Nutrition asked us to make a wish list of what we needed here at the fami. Our dairy floor was in need of refurbishment and ice cream making had to be suspended. Thomas organised his contractor to come and re-lay the floor so that we could start making ice cream again. He also supplied and erected 3 new animal sheds. 9 members of our staff climbed Snowdon in October and raised over £2,000. j) Trading Company Acorn Farm Trading Company continues as a thriving operation. The shop and café who trade through this company have both had a busy summer. However, during busy periods both the kitchen and café area struggle to cope with the volume of customers due to insufficient seating in the café area and lack of workspace in the kitchen. Similarly, the shop can get very congested.
ACORN VENTURE ASSOCIATION TRUSTEES, REPORT - continued FOR THE YEAR ENDED 31 DECEMBER 2024 k) Risk Management The trustees have conducted a review of the major risks to which the charity is exposed. This has led to the implementation of a number of policies including the Reserves Policy, which states that in order to safeguard the future of the farm we will hold in reserve six months of resources expended. There are a number of other risks which we have identified and are detailed in our Reserves Policy. We also have a Business Continuity Procedure. Intemal risks are minimised by the implementation of additional policies including Policy and Practi on Payments, Banking and Custody Procedure, Payroll Financial Procedure, Capital Purchases Policy, and Asset Control. Procedures are in pla to ensure compliance with health and safety of staff, people we support, volunteers and visitors. These include a comprehensive set of risk assessments. The implementation of safeguarding policies for both Vulnerable Adults and Children ensure that we deal with any safeguarding issues which may arise in a consistent manner. Al policies are reviewed on a regular basis by the trustees. Staff Team Permanent Staff: Name Job title Hours Tracy Trumble Rebecca Little Mike Taylor Craig Ellingham Marie Moulsdale Heather Dowell Jane McKillop Zaneta Radilova Lisa Hughes Lisa Gunn Philip Dowsett Sue Rowan Lynn Fitzpatrick Val Kelly Marta Silva Jo Mountain Megan Roberts Hannah Duddle Millie Jordan Val Kelly Jennifer Hardie Erin Rhead Amy Martlew Suzanne Austin Donna Tyrer Chelsea Truesdale Farm Manager Depu Mana er Horticultural Unit Manager Fami Maintenance Worker Education Worker Administrative Assistant Cafe Mana Weekday Cafe Assistant Shop Worker Farm Animal Supervisor Farm AssislanUDriver GardenerlSuptK)rt Worker Weekend Manager (Job Share) Weekend Manager (Job Share) Weekend Cafe Team Leader Weekend Café Assistant (Job Share) Weekend Cafe Assistant (Job Share) Weekend Shop Worker Weekend Animal Petting Area Supervisor Sundayl School holiday Horse Ride Supervisor Saturday Horse Ride Supervisor Weekend Horse Ride Helper Weekend Horse Ride Helper Fami Assistant Weekday Cleaner Weekday Cleaner 37.5 37.5 37.5 37.5 28 22.5 37.5 15 30.2 37.5 30 er 12 12 12.5 10
ACORN VENTURE ASSOCIATION TRUSTEES, REPORT - continued FOR THE YEAR ENDED 31 DECEMBER 2024 Seasonal staff: Name Hollie Lan Vacant Gemma Guepla Edwina Johnson Job litle Weekend Admissions Kiosk Petting Area (School Holidays} Admissions Kiosk {School Holidays) Horse Rides (School Holidays) Horse Rides (School Holida Horse Rides Ischool holidaysl Horse Rides (School Holidays) Plant Production Assistant {Weekdays)Seasonal Weekend Plant Sales Assistant Seasonal Plant Sales Assistant (Weekdays) Seasonal Hours 11.5 32.5 30 10 10 10 10 25 10.5 28.5 an Holly Fitzpatrick Josh Tristam Sue Rowan Helen Corrin Chrislelle Winlersdroff Staff Developments Acorn Farm continues to succeed largely through the high level of commitment shown by the staff leam, who are always willing to turn their hand to whatever needs doing. All stsff are encouraged to undertake training relevant to their role. m> Site Developments Site Reconfi uralion A greal deal has been achieved in temis of our planned site reconfiguration. We are now undertaking a major fundraising campaign to enable us to achieve our dream of a new community hub. FUTURE PLANS Our plans for 2025 include.. l Fundraising for a new purpose built fami hub I Working with DK Architects on the construction of the farm hub Introducing new animals Site Im rovements We are continually making improvements and doing repairs to the farm site- thus, ensuring that it is safe for the animals who live here and the people who Ix)th visit and work here. n) Conclusions Acorn Farm continues to provide a highly valued and affordable resource for both the local community and visitors from further afield. We are proud that our facilities are enjoyed by all. A visitor posted on Tripadvisor- 'From start to finish Acorn Fami was a magical experience for us all. It all started on the car park where we met Roddy. the sheep. From paying the very reasonable admission charges in the well-stocked shop to walking round beautifully maintained animal enclosures, the whole experien was a delight. All around the Fami there were helpers who were a credit to the venue in the way that they greeted us and directed us to different parts ofthe Fami. To top it all. the cafe offered a sumptuous range ofdishes and a spacious seating area. Thank you for a wonderful day out. We will certainly visit again,. In the coming year we will strive to continue to serve the community to the highest standards.
ACORN VENTURE ASSOCIATION TRUSTEES, REPORT - continued FOR THE YEAR ENDED 31 DECEMBER 2024 Financial review Income from charitable actrvrties and other trading activities increased to £1,192k (2023.. £887kl. Expenditure for the year increased to £764k {2023= £712k), resulting in a net surplus before investment gainsl(losses) of £429k (2023.. £175k). Unrealised investment gains of £149k {2023'. Losses (£97k)I were achieved in the year. Reserves Policy The Acom Farm Board of Trustees recognises the need to hold reserves to allow for unforeseen circumstances which could result in a substantial drop in income. These could include.. 1. A global pandemic. 2. A lack of funding could cause local authorities to terminate the contracts which they have with us for the provision of day ServIS for people with disabilities. 3. A fire, flood or similar incident could result in business interruption whilst repairs are undetway. 4. Severe weather could result in damage to the farm buildings making Ihe site unsafe for visitors until repairs are undertaken. 5. Outbreak of animal disease (e.g. Foot and Mouth. e.coli) which could result in the compulsory closure of the farm for a period of time. 6. Outbreak of food poisoning which could result in the Glosure of the Gafé andlor dairy whilst investigations by the Environmental Health Office are undertaken. Additionally, the reserves would allow for unforeseen capital works or purchases which may be required to ensure the safety of the farm site (e.g. replacement of unsafe animal housing or to replace faulty tools and equipment). To cover such eventualities, the trustees believe that Acorn Venture Association needs to hold in reserves 6 months of resources expended and have maintained this position throughout the year. The actual level of free reserves held is slated in our annual accounts. Structure, governance and management The Association is a charitable company limited by guarantee. incorporated on 26 July 1985 and registered with the Charity Commission on 4 March 1986. The Association was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. The charity is a company limited by guarantee and has no share capital. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to date of signature of the financial statements were= A D Burke F C Hartshome R T Muspratt P E Prayle R V Rishworth C J Roderick APWare (Appointed 16 January 2025)
ACORN VENTURE ASSOCIATION TRUSTEES, REPORT - continued FOR THE YEAR ENDED 31 DECEMBER 2024 None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up. All trustees have completed a Declaration of Confidentiality and a Declaration of Commitrnent and Eligibility to be a trustee having regard to Section 72 of the Charities Act. Appointment and induction of trustees We are always keen to welcome new trustees on to the board. Our aim is to recruit trustees who are able to complement the skills and experience of our existing board. In line with our Memorandum and Articles of Association the truslees may appoint any inlerested party as a member ofthe board eitherto fill a casual vacancy or by way ofan addition to the board. Any member so appointed shall retain their office only until the next AGM. but they shall then be eligible for re-election. Trustee induction and training At present, new trustees are inducted into the charity in the following way- Potential new trustees are invited to the premises to attend an initial discussion with the Chair. They are introduced to the stsff team and people we support and given a tour of the farm, prior to applying to join the board. Invitation to attend the next trustee meeting, where new members will be elected. then follows. This is also an opportunity to meet other Board members. Potential new trustees are issued with an infomiation pack. upon retuming the completed pack they are appointed as a trustee. Organisation The Board of Trustees is responsible for the administration of the charity. The day-to-day running of the organisation is delegated to the Secretary. The full board meets quartedy. The board has one key sutFcommittee of the Finance Committee, this also meets quarterly. The Personnel Committee meets as and when required. We have in place a number of policies relevant to the trustees which help to ensure that governance of the charity is perfomied to the highest standard. These include a Trustee Recruitment Policy, a Conflict of InteresULoyalty Policy. a Register of Interests and a Trustee Code of Practice. Disclosure of infomiation to auditor Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditors are aware of such information.
ACORN VENTURE ASSOCIATION TRUSTEES, REPORT - continued FOR THE YEAR ENDED 31 DECEMBER 2024 This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006. Registered office.. Signed by the order of the Trustees Acom Venture Farm Depot Road Kirby Knowsley Merseyside L33 3AR C J Roderick Trustee Approved by the Trustees on 31 October 2025
ACORN VENTURE ASSOCIATION STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees who are also the directors for the purpose of company law, are responsible for preparing the Trustees. Report and financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the slate of affairs of the Charity and the Group and the incoming resources and application of resources, including the net income or expenditure, of the Group for the year. In preparing those financial statements. the Trustees are required to= select suitable accounting policies and then apply them consistently- make judgements and estimales thal are reasonable and prudent., observe the methods and principles in the Charities SORP- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accurary at any time the financial position of the Charity and the Group and to enable them to ensure that the financial slatements complywith the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and the Group and hence for taking reasonable steps for Ihe prevention and detection of fraud and other irregularities. 10
ACORN VENTURE ASSOCIATION INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ACORN VENTURE ASSOCIATION Opinion We have audited the financial slatements of Acom Venture Association for the year ended 31 December 2024 which comprise the consolidated statement of financial activities, the group balance sheet.lhe company balance sheet, the consolidated stalement of cash flows and the 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, including Financial Reporting Standard 102"The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).. In our opinion, the financial statements: give a true and fair view of the state of the group's and the parent charitsble company's affairs as at 31 December 2024 and of the group's incoming reSoUrS and application of reSoUrs. for the year then ended- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audil in accordance with Intemational Stsndards on Auditing {UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are furiher described in the Auditor's responsibilities for the audit of the accounts section of our report. We are independent of the charitsble company in accordance with the ethical requirements that are relevant to our audit of the accounts 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 ststements, we have concluded that the Trustees use of the going concern basis of accounting in the preparation of the financial statement is appropriate. Based on the work we have performed. we have not identtfied any material uncertainties relating to events or conditions that, individually or collectively, may cast significanl doubt on the charity's ability to continue as a going concern for a period of at least iwelve monlhs from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the TrUStS wilh respect to going concern are described in the relevant sections of this report. Other infomiation The Trustees are responsible for the other information. The other information comprises the information included in the annual report. other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, exp1 to the extent otherwise explicitly stated in our report. we do not express any fomi 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 infomiation 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 there is a material misstatement in the financial statements or a material misstatement of the other infomiation. 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.
ACORN VENTURE ASSOCIATION INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ACORN VENTURE ASSOCIATION -continued Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of our audit.. the information given in the Trustees. Report, which includes the directors, report prepared for the purposes of company law. for the financial year for which the financial statements are prepared is consistent with the financial statements- and the directors. report included within the Trustees. Report has been prepared in acGordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors, report included within the Trustees, ReporL We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion- adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us., or the parent charitable company financial statements are not in agreement with the accounting records and returns- or certain disclosures of trustees, remuneration specified by law are not made- or we have not received all the infomiation and explanations we require for our audit- or the Trustees were not entitled to prepare the financial statements in accordan with the small companies regime and take advantage of the small companies, exemptions in preparing the Trustees, Report and from the requirement to prepare a Strategic Report. Responsibilities of the Trustees As explained more fully in the Statement of Trustees. Responsibilities, the Trustees, who are also the directors of the charity for the purpose of company law. are responsible for the preparalion 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 neSSary 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 charity's ability to continue as a going concern, disclosing, as applicable, matters related to going Goncern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations. or have no realistic alternative but to do so. Auditorfs responsibilities forthe audit of the financial statements Ourobjectives are to obtain reasonable assuran aboutwhetherthe financial statements as a whole are free from material misstatement, whether due to fraud or error. and to issue an auditorfs report thal 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 aayS 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 responsibililies, oullined atK)ve, to delecl material misstatements in respect of irregularities. including fraud. The extent to vthich our prOdureS are capable of detecting irregularities, including fraud, is detailed below. 12
ACORN VENTURE ASSOCIATION INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ACORN VENTURE ASSOCIATION -continued Based on our understanding of the charitable company and sector. we identified that the principal risks of non-compliance with laws and regulations related to, but were not limited to, the Companies Act 2006, the Charities Act 2011. employment, pension and health and safety legislation and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and the Charities, Statement of Recommended Practice. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to management bias in accounting estimates and judgements and the risk of fraud in revenue recognition. Our procedures to respond to risks identified included the following- reviewing the financial statement disdosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements- enquiring of management about actual and potential litigation and claims, their policies and procedures to prevent and detect fraud as well as whether they have knowledge of any actual, suspected or alleged fraud- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud,. reading minutes of meetings of those charged with govemance: obtaining an understanding of provisions and holding discussions with management to understand the basis of recognition or non-recognition of provisions., and in addressing the risk of fraud through management override of controls.. testing the appropriateness of joumal entries., assessing whether the accounting estimates, judgements and decisions made by management are indicative of a potential bias., and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team mernbers and remained alert lo any indications of fraud or non-compliance with laws and regulations throughout the audit. There are inherent limitalions in our audit procedures described above. The more removed Ihat laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Audtting standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and olher management and the inspection of regulatory and legal coespondenCe, if any. Material misstatements that arise due tofraud can be hardertodetect than those that arise from erroras they may involve deliberate concealment or collusion. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at= httP=Ilwww.frc.org.uklauditorsresponsibilities. This description forms part of our auditorfs report. 13
ACORN VENTURE ASSOCIATION INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ACORN VENTURE ASSOCIATION -continued Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Parl 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. F P PFL:. Peter Atkinson F.CA. (Senior Statutory Auditor) for and on behalf of JS. Audit Limited Chartered Accountants Statutory Auditor 31110/2025 James House Stonecross Business Park Yew Tree Way Warrington Cheshire WA3 3JD 14
ACORN VENTURE ASSOCIATION CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted Restricted Total funds Total funds Year to Year to 31 December 31 December 2024 2023 Funds Funds Note Incomin Resources Incoming resources from generated funds: Donations and legacies Charitable activities Other trading activities Investments Other income 13.044 296.278 602.525 43.055 237.509 250,553 296,278 602,525 43,055 6,566 346,643 502,709 30,576 279 Total incoming resources enditure on: Costs of generating funds Charitable activities Govemance costs 954,902 237,509 1,192,411 886,773 316,381 434.527 7.122 316,381 440,079 7,122 231,842 473,751 5,991 5.552 Total expenditure 758.030 5.552 763,582 711,584 Net incoming resources before gainsl(losses) on investments 196.872 231.957 428,829 175,189 Net gainslllosses) on investments Nel movement in funds 148.697 148,697 96.819 345.569 231,957 577,526 78,370 Fund balances al 31 Dember 2023 2.339.055 251,438 2,5,493 2.512,123 Fund balances at 31 December 2024 2.684.624 483.395 3.168.019 2.590,493 The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. 15
ACORN VENTURE ASSOCIATION GROUP BALANCE SHEET AS A T 31 DECEMBER 2024 Note 31 December 2024 31 December 2023 Tangible fixed assets 15 934,878 945,106 Investments 16 1448 318 2.383,196 1 282018 2,227,124 Current assets Stock Debtors Investments Cash at bank and in hand 8.877 19,594 415.521 385 287 829,279 1.000 16,726 17 18 380 661 398,387 Creditors: amounts falling due within one year Net current assets 19 {44.456) (35.018} 784,823 363,369 Net assets 3,168,019 2,590,493 Funds employed Restricted funds 21 483,395 251,438 Unrestricted funds Designated funds Fixed asset fund General funds Total unrestricted funds 21 21 21 1,650,000 688,992 345.632 1,306,332 693,668 339,055 2,684,624 2,339,055 Total funds 3,168,019 2,590,493 These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime within Part 15 ofthe Companies Acl 2006. Approved for issue on 31 October 2025 C J Roderick Trustee Company Registration No.01934024 16
ACORN VENTURE ASSOCIATION COMPANY BALANCE SHEET AS A T 31 DECEMBER 2024 Note 31 December 2024 31 December 2023 Tangible fixed assets 15 932.175 942,403 Investments 16 1.448.319 1,282,019 Current assets Debtors Investments Cash at bank and in hand 2.380.494 2,224,422 17 18 35,053 415,521 368,055 818,629 23,500 365,349 388,849 Creditors: amounts falling due within one year: Net current assets Net assets 19 (31,238) 122,912) 787,391 3.167,885 365,937 2,590,359 Funds employed Restricted funds 21 483.395 251,438 Unrestricted funds Designated funds Fixed asset fund General funds 21 21 21 1.650.000 688,992 345.498 1,306,332 693,668 338,921 Total unrestricted funds 2,684,490 2,338,921 Total funds 3,167.885 2,590,359 These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime within Part 15 of Ihe Companies Act 2006. Approved for issue on 31 October 2025 C J Roderick Trustee Company Registration No. 01934024 17
ACORN VENTURE ASSOCIATION CONSOLIDATED STATEMENT OF CASH FLOWS AS A T 31 DECEMBER 2024 2024 2023 Note Cash flows from operating activities Cash generated from operations 26 416.528 184.532 Investing activities Purchase oftangible fixed assets Proceeds on disposal of fixed assets Investment income received Short term investment (10.983) (16.938) 17,872 3,933 14,602 Net cash {oufflow)linflow from invesling activities 411902 Nel increase in cash and cash equivalents 189 399 Cash and cash equivalents at beginning of year 380 661 191262 Cash and cash equivalents at end of year 385,287 380,661 Relating to= Cash at bank in hand 385,287 380,661 385.287 380,661 18
ACORN VENTURE ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 1. Accounting policies Charity Infonnation Acorn Venture Association is a private company limited by guarantee incorporated in England and Wales. The registered Offi is Acom Venture Fami, Depot Road. Kirkby. Knowsley, Merseyside, L33 3AR. 1.1 Accounting Convention The accounts have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and °Accounting and Reporting by Charities.. Statement of Recommended Practi 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). The charity is a Public Benefit Entty as defined by FRS 102. The accounts are prepared in sterling, vthich is functional Gurrencyofthe charity. Monetary amounts in these financial statements are rounded to the nearest£. The financial statements have been prepared under the historical cost convention, rnodified to reflect certain financial instruments at fair value. The principal accounting policies adopted are sel out below.. 1.2 Going Concern At the time of approving the financial statements. the trustees have a reasonable expectation that the charity has adequate reSoUrS to continue in operational existence for the foreseeable future. Thus the trustees continLbe to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Basis for consolidation The consolidated financial ststements comprise Acorn Venture Association and its trading subsidiary. Acorn Venture Trading Co. Ltd. The results of the subsidiary are consolidated on a line by line basis. The summarised Profit and Loss Accountfor the yearended 31 December 2024 and Balance Sheet as at 31 December 2024 for Acorn Venture Trading Co. Ltd are given in the notes to these accounts. The charity has availed itself of the provisions of the Companies Act and adapted the Companies Act formats to reflect the special nature of the charity's activities. No separate SOFA has been presented for the charity alone as peitted by Section 408 of the Companies Act 2006 and Paragraph 397 of the SORP. 19
ACORN VENTURE ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 1.4 Charitable Funds General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Fixed asset funds relate to the assets in relation to the construction of the farm building. Designated unrestricted funds relate to funds that the trustees have designated for a particular project within the objectives of Ihe charity- Restricted funds are funds which are to be used in accordance with specific reslrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds is charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. All income and expenditure is shown in the Statement of FinanGial Activities (SOFA). Investment income and gains are allocated to the appropriate fund. 1.5 Incoming resources All incoming resources are induded within the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. Other trading income is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts. 1.6 Resources expended Expenditure, including irrecoverable VAT is recognised on the accruals basis. In particular, the policy for including items within costs of generating funds is as follows= Charitable activities comprise those costs incUed by the charity in the delivery of its aGtivities and services for ils beneficiaries.11 includes both the costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. All costs are allocated between the expenditure categories of the Statement of Financial Activities on bases designed to reflect the uses of particular resources. Costs relating to a particular activity are allocated directly, while others are apporboned on an appropriate basis. 20
ACORN VENTURE ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 1.7 Tangible fixed assets Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at the following annual rates in order to write off each asset, with the exception of land, over its estimated useful life- Long leasehold land and buildings Renovations Outbuildings and paddock Fixtures and fittings Motor vehicles Play equipment Over the temi of the lease 20 % per annum on a straight line basis 10 % per annum on a straight line basis 200/0 per annum on a straight line basis 25 % per annum on a straight line basis Over 15 years The gain or loss arising on the disposal of an asset is detemiined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the statement of financial activities. 1.8 Fixed asset investments Listed investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomel{expenditure) for the year. Transaction costs are expensed as incurred. Investments in subsidiaries are inttially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impaimient losses are recognised immediately in net incomellexpenditure) for the year. A subsidiary is an entity controlled by the charity- Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities. 1.9 Impainnent of Fixed Assets At each reporting end date. the charity reviews the carying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to detemiine the extent of the impairment loss {rf any). 1.10 Stocks Stocks are valued at the lower of cost and net realisable value. 1.11 Investments Current asset investments relate to cash held on deposit and are stated al market value. 1.12 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid investments with original maturtties of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.13 Financial Instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 21
ACORN VENTURE ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Derecognition of financial assets Financial assets are derecognised only when the contractual rights to the cash flows from the assel expire or are settled. or when the charity transfers the financial asset and subslantially all Ihe risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to anolher party that is able to sell the asset in its entirety to an unrelated third party. Basic financial liabilities Basic financial liabilities. including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured al the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rale method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as currenl liabilities if paymenl is due within one year or less. If not, they are presented as non-current liabilities. #ierm18 are recognised initially at transaction price and subsequently measured at amorlised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.14 Employee benefils The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 1.15 Retiremenl benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 22
ACORN VENTURE ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 Donations and legacies Unrestricted Restricted Funds funds Total 2024 Total 2023 Donations and legacies For the year ended 31 December 2023 13,044 237,509 250,553 6,566 6,566 6,566 Donations and gifts Donations Donations - restricted 13.044 13,044 237,509 237,509 13,044 237.509 250,553 6,566 6,566 3 Charitable artivities Total 2024 Total 2023 Daytime activities programme Product sales Educational income Other income 245,208 15.533 34,270 1.267 296,278 236,937 78,693 29,327 1.686 346,643 l income for both years relate to unrestricted general funds. Other trading activities Total 2024 Total 2023 Sponsorship Admission charges Horse riding charges Petting pavilion charges Room hire Shop sales Café sales Animal feed Plant sales 836 242.033 20.203 35,809 2,859 74.385 134.865 27.601 63,934 602.525 1,322 204.374 21,185 38,402 2,782 74,900 127.700 32,044 502.709 All income for both years relate to unrestricted general funds. 23
ACORN VENTURE ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 5 Investment income Total 2024 Total 2023 Income from listed investrnents Interest receivable 28,453 26,643 14,602 3,933 43,055 30,576 All income for both years relate to unrestricted general funds. 6 Other income Total 2024 Total 2023 Net gain on disposal of tangible fixed assets 279 279 l income for both years relate to unrestricted general funds. 7 Costs of generating funds Totsl 2024 Total 2023 Fundraisin and ublici Other fundraising costs Investment management administration costs Staff costs Costs of generating funds Premises costs General administrative costs 56,112 10,850 114,633 128,347 2,170 4,269 316.381 827 5,293 102,502 117,959 1,439 3,822 231,842 All costs for both years relate to unrestricted general funds. 24
ACORN VENTURE ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 Charitable activities Total 2024 Total 2023 Staff costs Depreciation and impairment Costs of activities in furtherance of the charity's objectives Indirect employee costs Premises costs General administrative costs Professional fees in support of charitable activities Direct employee costs 311,704 294,784 21,211 24,953 34,798 55,638 546 1,219 55,155 60,235 11,767 18,512 1,451 15,863 3,447 2,547 440,079 473,751 Analysis by fund Unrestricted funds Restricted funds 434,527 467,739 5,552 6,012 440,079 473,751 9 Governance costs Total 2024 Total 2023 Governance costs 7,122 7,122 5,991 5,991 I costs for both years relate to unrestrided general funds. 25
ACORN VENTURE ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 10 Movement in total funds for the year This is stated after charginty(crediting): Total 2024 Total 2023 Auditors. remuneration Depreciation 7,000 21,211 24,953 11 Staff costs Total 2024 Total 2023 Wages and salaries Social securty costs Pension costs 397,897 20,920 7,520 426,337 371,667 19,239 6,380 397,286 The average number of fvll-time equivalent employees, analysed by function was: Total 2024 Total 2023 Charitable activities 35 33 35 33 There were no employees whose annual emoluments were £60,000 or more. 12 Pension costs The charity operates a company pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £7,520 (2023 £6,380). 13 Trustees None of the trustees (or any persons connected with them) received any remuneration during the year12023 £Nil). 26
ACORN VENTURE ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 14 Surplus for the financial year As permitted by Section 408 of the Companies Act 2006 and Paragraph 397 of the SORP, no separate SOFA has been presented for the Charity alone. Relevant information is as follows= 2024 2023 Charity's gross income Charity's surplus for the financial year 930.445 653,010 78,370 577,526 27
ACORN VENTURE ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 15 Tangible fixed assets - Group Lony leasehold land arKI Outhuildings and Fixiurè4 fittlngs and equipmont Motor vehicles Totsl buildiny$ paddocks Cost at 1 January 2024 Additions Disposals Cost at 31 December 2024 1,062,346 1,548 582,328 129,975 9,435 (250) 139,160 15,490 1,790,139 10,983 (250) 1,800.872 1,063.894 582,328 15,490 Accumulated depreciation al 1 January 2024 Charge for the year Eliminated on disposal Accumulated depreciation al 31 December 2024 Net book value At 31 December 2024 At 31 December 2023 123.998 19.474 579,982 1.086 125,563 651 (250) 15,490 845,033 21,211 1250) 143.472 581.068 125,964 15.490 865,994 920.422 938,348 1.260 2,346 13,196 4,412 934,878 945,106 Tangible fixed assets - Charity Longlease land and buiMling$ Outbulldlngs and Motor f19$ aThl twipmènt vehicles Cost at 1 January 2024 Additions Disposals Cost at 31 December 2024 Accumulated depreciation al 1 January 2024 Charge for the year Eliminated on disposal Accumulated depreciation al 31 December 2024 Net book value At 31 Dember 2024 At 31 December 2023 1,062.346 1.548 582,328 116,767 9,435 15,490 1,776,931 10,983 1.063.894 582.328 126,202 15.490 1,787,914 123,998 19.474 579,982 115,058 651 15,490 834,528 21,211 143,472 581,068 115,709 15,490 855,739 920,422 938,348 1.260 2.346 10,493 1,709 932,175 942,403 28
ACORN VENTURE ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 16 Fixed asset investments - Group Listed investments Total Cost or valuation at 1 January 2024 Valuation changes Income reinvested Managemenl fees Cost or valuation at 31 Dmber 2024 Carrying amount As at 31 December 2024 As at 31 December 2023 1,282,018 148.697 28.453 10,850 1,448,318 1,282,018 148,697 28,453 10,850 1,448,318 1,448,318 1,282.018 1,448,318 1.282,018 16 Fixed asset investments - Charily Listed Other investments investments Total Cost or valuation at 1 January 2024 Valuation changes Income reinvested Management fees Cost or valuation at 31 December 2024 Carrying amount As at 31 December 2024 As at 31 December 2023 1.282,018 148,697 28,453 10,850 1.448,318 1.282,019 148,697 28,453 10,850 1,448,319 1,448,318 1,282,018 1.448.319 1,282,019 2024 2023 Other investments comprise= Investments in subsidiaries The investments held by the company represent the investrnent in the subsidiary companies as follows.. Company Country of incorporation Shares held Class Subsidia undertakin Acorn Venture Trading Co. Ltd England & Wales Ordinary 100 The principal activity of this undertaking for the last relevant financial period was as follows: Principal activity Cafeteria services and the sale of gifts Acorn Venture Trading Co. Ltd 29
ACORN VENTURE ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 17 Debtors 2024 Group 2024 Company 2023 2023 Group Company Trade debtors Prepayments and accrued income Balance due from subsidiaries Other debtors 13,518 2,772 10,819 5,111 15,819 3,304 13,961 2,679 13,961 2,679 6,860 3,304 86 19,594 35,053 16,726 23,500 18 Current asset investments 2024 Group 2024 Company 2023 2023 Group Company Short term investments 415,521 415,521 415.521 415.521 19 Creditors: amounts falling due within one year 2024 Group 2024 Company 2023 Group 2023 Company Trade creditors Taxation and social security Accruals and deferred income Other creditors 12,131 9,004 23.115 206 44,456 13,318 8,071 7,459 19,386 102 35,018 6,801 2,705 13.406 17.920 31,238 22,912 20 Taxation The group is exempt from corporation tax on its charitable activities. 30
ACORN VENTURE ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 21 Statement of funds- Group At 31 Income Expenditure Gains and At31 December losses J December 2023 transfers 2024 General reserve Designated fund Fixed asset fund 1,306,332 693,668 339,055 2,339.055 343,668 1,650,000 10,983 (15.659) 688.992 943,919 {742,371) {194,971) 345,632 954,902 758,030 148,697 2,684,624 General funds Restricted funds Restricted funds Farm building refurbishment 357 251,081 237,509 251,438 237,509 2,590,493 1.192,411 {357) 5,195 5,552 763,582 483,395 483,395 148,697 3,168,019 Statement of funds - Charity At 31 Income Expenditure Gains and At31 December losses l December 2023 transfers 2024 General reserve Designated fund Fixed asset fund General funds 1.306,332 693,668 338,921 2.338,921 343,668 1,650.000 10,983 (15,659) 688,992 681,953 {480,405) {194,971 } 345,498 692.936 496.064 148.697 2.684.490 Restricted funds Reslricted funds Farm building refurbishment 357 251,081 251,438 2,590,359 {357) 5,195 5.552 501,616 237,509 237.509 930,445 483,395 483.395 148,697 3.167,885 The designated funds have been set aside out of unrestricted funds by the trustees for the redevelopment of the fami. The fixed asset fund relates to the fixed assets that were bought using unrestricted fund income with the annual depreciation charge of these assets being allocated against the brought forward balances. The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. The restricted and farm building refurbishment funds relate to fixed assets that were bought using restricted income with the annual depreciation charge of these assets being allocated against the brought forward balances. 31
ACORN VENTURE ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 22 Analysis of group net assets between funds Unrestricted funds Restricted funds Total 2024 Fund balances as at 31 December 2024 are represented by: Tangible fixed assets Investments Current assets Current liabilities 688,992 1,448,318 591,770 (44,456) 245,886 934,878 1,448,318 829,279 {44,456) 237,509 2,684,624 483,395 3,168,019 Unrestricted funds Restricted funds Total 2023 Fund balances as at 31 December 2023 are represented by: Tangible fixed assets Investments Current assets Current liabilities 693,668 1,282.018 398.387 (35,018) 251,438 945,106 1,282,018 398,387 (35,018) 2,339,055 251,438 2,590,493 23 Share capital The charity has no share capital being a company limited by guarantee. Members guarantee lo contribute an amount not exceeding £1 each in the event of a winding up situation. 24 Control The charity is controlled by the trustees. 32
ACORN VENTURE ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 25 Net income from trading The company owns 100.kn of the shares in Acom Venture Trading Co. Ltd (AVT), which is incorporated in the United Kingdom and registered in England {Company Registration No.. 05381159). The subsidiary is based at Acom Farm. The shop and café trade through the subsidiary. All income and expenditure for the above subsidiary has been consolidated on a line by line basis in the SOFA. The total nei profit is gifted to the charity- A summary of the financial postiion for the year ended 31 December 2024 is given below.. Profit and loss account 2024 Avr 2023 Airr Turnover 308.492 241.973 Cost of sales (135,363) (124,367) Gross profit 173.129 117.606 Administrative expenses (134,311) (116,725) Operating profit Other income 38.818 881 Profit on ordinary activities 38,818 881 Profits donated to Acom Venture Association (38.818) (881) Retained result for the year Balance sheet 2024 2023 Tangible assets Current assets Creditors- falling due within one year 2.703 30.800 (33.368) 2.703 16,398 {18.9661 Net assets 135 135 Called up share Gapital and reserves 135 135 The Acom Venture Trading Co. Ltd figures as shown above relating to the provision of shop and café sales have been included as income and expenditure in the Statement of Financial Activities and the related notes rather than commercial trading operations, to better refleGt the nature of the Charity's activities. 33
ACORN VENTURE ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 26 Cash generated from operations 2024 2023 Surplus for the year 577,526 78,370 Adjustments for.. Investment income rec(NJnised in statement of financial activities {43,055) (30,576) Gain on disposal of tangible fixed assets 1279) Fair value Igainsylosses on investments (148,6971 96,819 Depreciation and impairment of tangible fixed assets Investment management fees deducted from portfolio Movements in working Gapital.. 21,211 24,953 10,850 5,293 (Increase}Idecrease in stock (Increase}Idecrease in debtors Increasel{decrease) in creditors (7.877) (2,868) 3,689 Cash generated from operations