SITOPIA FARM CIC

Company limited by guarantee

Company Registration Number:
13000845 (England and Wales)

Unaudited statutory accounts for the year ended 30 November 2023

Period of accounts

Start date: 1 December 2022

End date: 30 November 2023

SITOPIA FARM CIC

Contents of the Financial Statements

for the Period Ended 30 November 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

SITOPIA FARM CIC

Directors' report period ended 30 November 2023

The directors present their report with the financial statements of the company for the period ended 30 November 2023

Directors

The director shown below has held office during the whole of the period from
1 December 2022 to 30 November 2023

Chloe Dunnett


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
12 March 2024

And signed on behalf of the board by:
Name: Chloe Dunnett
Status: Director

SITOPIA FARM CIC

Profit And Loss Account

for the Period Ended 30 November 2023

2023 2022


£

£
Turnover: 58,748 48,116
Gross profit(or loss): 58,748 48,116
Distribution costs: ( 1,495 ) ( 3,237 )
Administrative expenses: ( 57,032 ) ( 46,875 )
Operating profit(or loss): 221 (1,996)
Profit(or loss) before tax: 221 (1,996)
Profit(or loss) for the financial year: 221 (1,996)

SITOPIA FARM CIC

Balance sheet

As at 30 November 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 39,397 37,495
Total fixed assets: 39,397 37,495
Current assets
Debtors: 4 7,712 13,742
Cash at bank and in hand: 8,357 2,651
Total current assets: 16,069 16,393
Creditors: amounts falling due within one year: 5 ( 8,930 ) ( 7,573 )
Net current assets (liabilities): 7,139 8,820
Total assets less current liabilities: 46,536 46,315
Total net assets (liabilities): 46,536 46,315
Members' funds
Profit and loss account: 46,536 46,315
Total members' funds: 46,536 46,315

The notes form part of these financial statements

SITOPIA FARM CIC

Balance sheet statements

For the year ending 30 November 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 12 March 2024
and signed on behalf of the board by:

Name: Chloe Dunnett
Status: Director

The notes form part of these financial statements

SITOPIA FARM CIC

Notes to the Financial Statements

for the Period Ended 30 November 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenueearned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similarallowances.Sale of goodsTurnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This isusually at the point that the customer has signed for the delivery of the goods.Rendering of servicesTurnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract ismeasured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extentof recoverable expenses when the outcome of a contract cannot be estimated reliably.

    Tangible fixed assets depreciation policy

    Plant & Machinery SL over ULComputer Equipment SL over UL

SITOPIA FARM CIC

Notes to the Financial Statements

for the Period Ended 30 November 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 2 2

SITOPIA FARM CIC

Notes to the Financial Statements

for the Period Ended 30 November 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 December 2022 42,431 42,431
Additions 5,931 5,931
Disposals
Revaluations
Transfers
At 30 November 2023 48,362 48,362
Depreciation
At 1 December 2022 4,936 4,936
Charge for year 4,029 4,029
On disposals
Other adjustments
At 30 November 2023 8,965 8,965
Net book value
At 30 November 2023 39,397 39,397
At 30 November 2022 37,495 37,495

SITOPIA FARM CIC

Notes to the Financial Statements

for the Period Ended 30 November 2023

4. Debtors

2023 2022
£ £
Trade debtors 7,712 13,742
Total 7,712 13,742

SITOPIA FARM CIC

Notes to the Financial Statements

for the Period Ended 30 November 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Other creditors 8,930 7,573
Total 8,930 7,573

COMMUNITY INTEREST ANNUAL REPORT

SITOPIA FARM CIC

Company Number: 13000845 (England and Wales)

Year Ending: 30 November 2023

Company activities and impact

PART 1 - GENERAL DESCRIPTION OF THE COMPANY’S ACTIVITIES AND IMPACTIn the space provided below, please insert a general account of the company’s activities in the financial year to which the report relates, including a description of how they have benefited the community. Sitopia Farm is a not for profit social enterprise. We grow food to advance social, health andenvironmental objectives. We believe we can and should grow more food in the city.With thanks to the generosity and vision of the landowners, the Woodlands Farm Trust, wegrow on two acres on their wider farm. We are proudly female-led and have an entirely female team. Our Advisory Board is also 60% female and 40% BAME.We are passionate believers in the transformative health, social and environmental benefits amore localised food system, using efficient organic and regenerative agricultural techniques, can bring.Our current food system is not fit for purpose, contributing to the global syndemic of climatechange and biodiversity collapse; diet-related disease; and food poverty, even in wealthy countries such as the UK. Urban areas currently hold great untapped potential for food growing. Through enacting and demonstrating the health, social and environmental benefits our way of farming can bring, we also want to expand the use of land in London to grow food for our community, spread the word about the changes needed in the food system, and model the wider changes we want to see.During December 2022-November 2023 we achieved the following:-completion of 100% of planned new beds, representing approx. 1.6 acres of our 2 acre site now converted into food and flower cropping areas-with the aid of a generous grant from the Worshipful Company of Gardeners, we built a new compost bay structure using eco-friendly materials, and aim to supply the vast majority of our own compost needs in future.-c. 3-400 different crop varieties grown, producing tonnes of vegetables-expanded our hyperlocal veg bag scheme, providing fresh organic vegetables to our local area through the winter-provided food at subsidised rates to low income households and donated to community groups-approximately 70% sold within a few miles’ radius of the farm (majority on site/ withinGreenwich and Bexley boroughs)-trained over 35 people through our horticulture courses including offering 10% ofplaces for free to those on low income, particularly targeting BAME groups under-represented in horticulture-successfully passed annual Soil Association inspection and organic status renewed.-300+ volunteers engaged.-12 companies participated in a team day at the farm, learning about organic, regenerative farming and the changes needed to the food system-2000 additional social media followers-several full and part-time jobs created-1000+ visitors to farm-significant local/national media coverageSome of these activities were supported by a generous grant from the City Bridges Trust.

Consultation with stakeholders

PART 2 – CONSULTATION WITH STAKEHOLDERS – Please indicate who the company’s stakeholders are; how the stakeholders have been consulted and what action, if any, has the company taken in response to feedback from its consultations? If there has been no consultation, this should be made clear.Sitopia Farm has diverse and multiple stakeholders. In its broadest sense our mission is tochange the food system, which affects everyone. In seeking to model what can be achieved ina short time scale, we are also seeking to influence others to support or create similar farmselsewhere.We work closely with the Woodlands Farm Trust, the landowners, and meet regularly toshare concerns and plan joint activities. We have a co-opted position on the Woodlands Farm Trust Board which meets monthly. This means that we support the wider board and specifically help on fundraising, seek to link in with other activities and signpost volunteering opportunities and volunteer at their events. We also consult with them on our activities on a frequent basis.Our more visible engagement is with our local stakeholders: those living near the farm whobuy our produce, who visit our farm, whose children attend schools or local communityprojects we have spoken or donated food to, those who donate their time to volunteer at thefarm. Specifically one of the key benefits of having an on-site pop up shop through most of the year as well as attendance at the major events run by Woodlands Farm Trust allows us direct face to face conversations with our customers and local people.We also engage heavily through our social media channels, in particular through Instagram where most posts receive significant positive follower interaction.Rather than formal consultations at this stage we seek in all we do to engage closely with our community and seek feedback where relevant on our produce and activities.

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
12 March 2024

And signed on behalf of the board by:
Name: Chloe Dunnett
Status: Director