for the Period Ended 30 November 2023
Directors report | |
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes | |
Community Interest Report |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 30 November 2023
Principal activities of the company
Directors
The directors shown below have held office during the whole of the period from
1 December 2022
to
30 November 2023
The director shown below has held office during the period of
1 December 2022
to
23 August 2023
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
And signed on behalf of the board by:
Name:
Status: Director
for the Period Ended
2023 | 2022 | |
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Turnover: |
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Cost of sales: |
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Gross profit(or loss): |
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Distribution costs: |
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Administrative expenses: |
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Other operating income: |
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Operating profit(or loss): |
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Profit(or loss) before tax: |
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Profit(or loss) for the financial year: |
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As at
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Fixed assets | |||
Tangible assets: | 3 |
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Current assets | |||
Cash at bank and in hand: |
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Creditors: amounts falling due within one year: | 4 |
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Total assets less current liabilities: |
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Creditors: amounts falling due after more than one year: | 5 |
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Total net assets (liabilities): |
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Members' funds | |||
Profit and loss account: |
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Total members' funds: |
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The notes form part of these financial statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 30 November 2023
Basis of measurement and preparation
Turnover policy
Tangible fixed assets depreciation policy
for the Period Ended 30 November 2023
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Average number of employees during the period |
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for the Period Ended 30 November 2023
Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total | |
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Cost | £ | £ | £ | £ | £ | £ |
At 1 December 2022 |
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At 30 November 2023 |
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At 1 December 2022 |
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At 30 November 2023 |
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At 30 November 2023 |
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At 30 November 2022 |
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for the Period Ended 30 November 2023
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Trade creditors |
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Other creditors |
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Total |
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for the Period Ended 30 November 2023
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£ | £ | |
Other creditors |
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Total |
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In 2022-2023 we have maintained good membership levels throughout the year and, therefore, maintained good veg box outputs and excellent income levels. Fulfilling these good box numbers has resulted in significantly higher service provider costs than in previous years. Despite these factors, and aided by some savings made elsewhere, the overall result for the year was a surprisingly modest balance of £8568 on the year, and an end-of-year bank balance £11,321 (includes £2043 from Grants received) that provides a strong start point for 2023-2024. We continue to benefit from the automated software solution Smartsheets that gives real time visibility and when any financial decisions are required the core management team has the information they need to make informed decisions. In 2022-2023 we maintained a good weekly output, averaging 71 boxes per week. We started the year on equal 38 boxes for small and standard going out, then we saw the standards drop off and the smalls increase, by half way into the year we noticed a complete switch over 37 standards and 29 small boxes per week. . In fact, Standard boxes remain more than Small boxes from 1868 to 1799. This drove a 6.7% increase in “Standard Box Equivalents” during the year. This measure is important as it drives our budgetary model each year – we use it to predict income and buying-in costs, as well as helping our Growers to plan their planting and cropping schedules. Our waiting list of potential members is at an all-time low, so in the coming year the intention is to start a marketing campaign to increase our waiting list and also member list. Actual income was a steady line throughout the year, although this doesn’t reflect the budget, overall we fared better than anticipated through the latter part of the year. The overall result was a balance of £8,568 over the year. The service provider costs were higher than expected, our lead grower left mid-year, due to loss of experience and height of the growing season we covered this with our seasonal grower and added a new role ‘Site Manager/Volunteer Coordinator’ to support overall management. Given the changing situation the cost impact was £1300 over budget, so this is an excellent result in the circumstances. Veg box income for the year was again up by just 2% on last year, to £48,489, reflecting the lower veg box numbers and higher service provider hours as mentioned earlier. The work required to produce the average 71 number of boxes was substantial, however due to our strong and excellent leadership with increased volunteer support we were able to build a profit. The rising cost of living in all areas did influence other cost expenses, which include rent, insurance, packaging costs, web support, and seed purchase etc were 30% higher this year, which is double last year. The buying in of produce increased also from £8,353 to £10,787 which is not surprising and was only slightly under estimated budget. We have carefully considered rising costs through all aspects of our expenses to mitigate risks. The gross profit was £8,568 with a loss of £2924 due to higher administrative expenses and subcontractors costs. Therefore we have considered our budget for 2023–2024 carefully to ensure that we maintain achievements and support other ventures on our journey. In 2022/23, we achieved key milestones in completing the planting of 37 apple trees in our orchard and hosting two beehives. We built our cool store for our lovely veg over the winter months. Next we built ‘The Cabin’ this will transform the heart of our community enterprise, making way for us to hold more community driven events on site. We also took another step to reducing our environmental impact by going fully electric with all the machinery we use on site to manage the land. Our biggest challenges of the year were much the same as 2023. We experienced extreme weather, high rainfall for March then a long dry spell during the early summer months and a very wet Autumn, and winter storms wreaked havoc on two of our polytunnels. Farming is always a process of learning and refining, our Growing Team continues to grow over 100 different varieties of veg, using no-dig and organic methods. In 2023, 49% of produce in the weekly veg boxes was being bought in from local growers, 22% was spent on buying in from our overall income. Data taken from our annual survey sees our members preferring us to buy from local producers rather than organically-grown produce. Cornwall has very few organic farms to choose from. The team is supported by around 30 regular volunteers offering a variety of skills including growing; picking & packing; building and maintaining; and administration. Not to mention compost turning, nature conserving, pollinator counting, grass mowing, hedge trimming, shed tidying, pick-up point hosting, social media posting, chutney making. The number of volunteer hours is around the equivalent of two full-time workers, our volunteers are our greatest asset, and we are extremely grateful and proud they choose to join us each week. We continue to make changes on site so that both our paid workers and volunteers feel more welcome. We aim for our volunteer sessions to be more inclusive and rewarding, making it easier to volunteer. We held a number of successful events on site; a visit from Wadebridge Rotary Club, a volunteer orchard rake and barbecue afternoon, a visit from BBC Spotlight to talk about the community growing report produced by Sustainable Food Cornwall, our annual Apple day and an end of year Christmas social. Lastly we took part in a case study, to discuss our business model including finance, governance and volunteer management. Arca film crew came to record footage of the site and surroundings including drone footage to be used for a legacy film to mark the end of the project ‘Arca circular food project. While the year certainly presented the farm with varied challenges, we have felt the strength and resilience of our core management team, volunteers and community coming together. The farm’s achievements and outputs are helping our members make sustainable food choices. Camel CSA continues to stay true to its core values by prioritising organic vegetables that are locally grown, fresh and seasonal.
The Company’s stakeholders are local residents, living within a ten-mile radius of the project. Apart from the Annual General Meeting, no formal consultations were conducted in 2023. Members continue to receive a weekly email keeping them in touch with developments. Our Instagram and Facebook page also attracts interest. At Treraven next to a public footpath we continue to have a lot of face to face contact with the public. During the weekly picking & packing, volunteer sessions and monthly meetings the opportunity is taken to discuss plans and to consult informally on proposals concerning planting, marketing strategy and the organisation of community events.
Directors’ receive remuneration in form of Subcontractor fees, see full details in our accounts for transparency/accountability Director fees is now split out from non-director subcontractor fees on Profit & Loss.
No transfer of assets other than for full consideration
This report was approved by the board of directors on
7 August 2024
And signed on behalf of the board by:
Name: Diana Barry
Status: Director