IRIS Accounts Production v24.3.0.553 Other Company accounts True false Pounds 1.4.23 31.3.24 31.3.24 FY FRS 102 Independent examiner Small companies regime for accounts Full Charities SORP true false true true true false true false true iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh025770672023-03-31025770672024-03-31025770672023-04-012024-03-31025770672022-03-31025770672022-04-012023-03-31025770672023-03-3102577067ns0:CharitableCompanyLimitedByGuarantee2023-04-012024-03-3102577067ns15:PoundSterling2023-04-012024-03-3102577067ns11:FRS1022023-04-012024-03-3102577067ns11:IndependentExaminationCharity2023-04-012024-03-3102577067ns11:SmallCompaniesRegimeForAccounts2023-04-012024-03-3102577067ns11:FullAccounts2023-04-012024-03-3102577067ns11:CharitiesSORP2023-04-012024-03-310257706722023-04-012024-03-3102577067ns16:EnglandWales2023-04-012024-03-3102577067ns11:RegisteredOffice2023-04-012024-03-3102577067ns0:Trustee12023-04-012024-03-3102577067ns0:Trustee22023-04-012024-03-3102577067ns0:Trustee32023-04-012024-03-3102577067ns0:Trustee42023-04-012024-03-3102577067ns0:Trustee52023-04-012024-03-3102577067ns0:Trustee62023-04-012024-03-3102577067ns0:Trustee72023-04-012024-03-3102577067ns0:Trustee82023-04-012024-03-3102577067ns0:Trustee92023-04-012024-03-3102577067ns0:Trustee102023-04-012024-03-3102577067ns0:Trustee112023-04-012024-03-3102577067ns0:Trustee122023-04-012024-03-3102577067ns0:Trustee132023-04-012024-03-3102577067ns0:Trustee142023-04-012024-03-3102577067ns11:CompanySecretary12023-04-012024-03-3102577067ns0:TotalUnrestrictedFunds2023-04-012024-03-3102577067ns0:TotalRestrictedIncomeFunds2023-04-012024-03-3102577067ns0:Activity82023-04-012024-03-3102577067ns0:Activity8ns0:TotalUnrestrictedFunds2023-04-012024-03-3102577067ns0:Activity8ns0:TotalRestrictedIncomeFunds2023-04-012024-03-3102577067ns0:Activity82022-04-012023-03-3102577067ns0:Activity92023-04-012024-03-3102577067ns0:TotalUnrestrictedFundsns0:Activity92023-04-012024-03-3102577067ns0:Activity9ns0:TotalRestrictedIncomeFunds2023-04-012024-03-3102577067ns0:Activity92022-04-012023-03-3102577067ns0:Activity112023-04-012024-03-3102577067ns0:Activity11ns0:TotalUnrestrictedFunds2023-04-012024-03-3102577067ns0:Activity11ns0:TotalRestrictedIncomeFunds2023-04-012024-03-3102577067ns0:Activity112022-04-012023-03-3102577067ns0:Activity122023-04-012024-03-3102577067ns0:TotalUnrestrictedFundsns0:Activity122023-04-012024-03-3102577067ns0:Activity12ns0:TotalRestrictedIncomeFunds2023-04-012024-03-3102577067ns0:Activity122022-04-012023-03-3102577067ns0:TotalUnrestrictedFunds2023-03-3102577067ns0:TotalRestrictedIncomeFunds2023-03-3102577067ns0:TotalUnrestrictedFunds2024-03-3102577067ns0:TotalRestrictedIncomeFunds2024-03-3102577067ns10:WithinOneYear2024-03-3102577067ns10:WithinOneYear2023-03-3102577067ns10:AfterOneYear2024-03-3102577067ns10:AfterOneYear2023-03-3102577067ns10:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-04-012024-03-3102577067ns10:PlantMachinery2023-04-012024-03-3102577067ns10:FurnitureFittingsToolsEquipment2023-04-012024-03-310257706722023-04-012024-03-310257706732023-04-012024-03-3102577067ns10:OwnedAssets2023-04-012024-03-3102577067ns10:OwnedAssets2022-04-012023-03-3102577067ns0:TotalUnrestrictedFunds2022-04-012023-03-3102577067ns0:TotalRestrictedIncomeFunds2022-04-012023-03-3102577067ns0:Activity8ns0:TotalUnrestrictedFunds2022-04-012023-03-3102577067ns0:Activity8ns0:TotalRestrictedIncomeFunds2022-04-012023-03-3102577067ns0:TotalUnrestrictedFundsns0:Activity92022-04-012023-03-3102577067ns0:Activity9ns0:TotalRestrictedIncomeFunds2022-04-012023-03-3102577067ns0:Activity11ns0:TotalUnrestrictedFunds2022-04-012023-03-3102577067ns0:Activity11ns0:TotalRestrictedIncomeFunds2022-04-012023-03-3102577067ns0:TotalUnrestrictedFundsns0:Activity122022-04-012023-03-3102577067ns0:Activity12ns0:TotalRestrictedIncomeFunds2022-04-012023-03-3102577067ns10:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-03-3102577067ns10:PlantMachinery2023-03-3102577067ns10:FurnitureFittings2023-03-3102577067ns10:FurnitureFittings2023-04-012024-03-3102577067ns10:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2024-03-3102577067ns10:PlantMachinery2024-03-3102577067ns10:FurnitureFittings2024-03-3102577067ns10:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-03-3102577067ns10:PlantMachinery2023-03-3102577067ns10:FurnitureFittings2023-03-3102577067ns10:BetweenOneTwoYears2024-03-3102577067ns10:BetweenOneTwoYears2023-03-3102577067ns10:BetweenTwoFiveYears2024-03-3102577067ns10:BetweenTwoFiveYears2023-03-31
REGISTERED COMPANY NUMBER: 02577067 (England and Wales)
REGISTERED CHARITY NUMBER: 1008028









REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

DEEN CITY FARM LIMITED
(A COMPANY LIMITED BY GUARANTEE)

DEEN CITY FARM LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Report of the Trustees 1 to 4

Independent Examiner's Report 5

Statement of Financial Activities 6

Statement of Financial Position 7 to 8

Notes to the Financial Statements 9 to 16

DEEN CITY FARM LIMITED (REGISTERED NUMBER: 02577067)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024



The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES
Aims
The charity's objectives, as set out in the governing document are:



-
To advance education and provide facilities for leisure and recreation to improve quality of life for local
people, particularly young people


-
The promotion and advancement of agriculture, horticulture, and home crafts through education of local
people


-
To educate local people in the care and consideration for all animals by exhibiting and caring for the livestock
and domestic animals.
-The education and training of local people in the need to prepare them to earn their own livelihood.


-
To relieve local people with a physical and mental disability by providing facilities for them to ride horses and
ponies.


Objectives and activities

The Farm offers its facilities free-of-charge to visitors, principally from Merton but also from further afield. The organisation's objectives are realised through a range of services: the operation of an active educational programme offered by a dedicated member of staff, with a programme of tours and workshops held at the Farm and outreach projects delivered in the community; volunteering and work experience programmes that encourage young people to become involved in animal care and horticulture; the operation of a riding school that offers lessons to novice and experienced riders of all ages and abilities. The Farm also offers a programme of community events throughout the year, run by the Visitor Services department.

In planning these activities, the members of the Board of Trustees have given due consideration to the Charity
Commission's published guidance on the Public Benefit requirement under the Charities Act 2011. The Board considers that the charity's activities contribute to the public benefit in several areas:

-The advancement of education.
-The advancement of citizenship and community development
- The advancement of heritage and science.
-The relief of those in need, by reason of youth, age, ill-health, disability, financial hardship or other
disadvantages, and
-The advancement of animal welfare.







DEEN CITY FARM LIMITED (REGISTERED NUMBER: 02577067)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024


OBJECTIVES AND ACTIVITIES
Achievements and performance
The charity's objectives continue to be fulfilled through our activities, described below:

Education
The Farm is a unique educational resource for even the most casual visitor. The interpretational information around the Farm is renewed and expanded regularly to appeal to visitors of all ages. In addition, the Farm runs a range of popular educational activities targeted at specific groups. Nursery groups and schoolchildren visit the farm and enjoy guided tours, often combined with workshop activities. In the year under review the Farm hosted over 2,500 children from schools all over Merton and its neighbouring boroughs. Our Livestock department and Riding School offered work experience to over 150 students on animal care and equestrian courses, through short-term placements running throughout the year.

Volunteering
The range of volunteering opportunities is one of the Farm's most important contributions to the community. The popular Junior Volunteering weekend scheme brings together young people (ages 12-17) from a range of backgrounds and promotes healthy, social, outdoor activity. Over 130 young people have attended over the year. Weekday volunteering is well-attended, with adult volunteers working in all areas of the Farm. Over 30 volunteers attend most weeks.

Farm, Café and Shop
The Farm is a unique resource within the borough, offering residents the chance to glimpse rural life, to get close to a range of animals that includes all the types of livestock found on British farms. The financial year saw the Farm continue with 'business as usual' with over 130,000 visitors throughout the year.
Key projects undertaken by staff and trustees during the period included:
-the opening of the Pavilion, a new outdoor accessible classroom and animal handling facility,
-transformation of the gardens and allotment, starting a growing programme and educational garden club,
-introduction of accessible picnic benches,
-update internal policies and procedures,
-confirmation of a new 20 year lease for the Bunces Meadow site from the National Trust,
- renewal of the Charity's Articles of Association.

Riding School
The Riding School taught over 3,000 lessons with 402 individual riders across the year. Riders of all abilities can learn, return and develop in a safe and friendly equestrian environment. Evening and weekend classes run in all weathers.

FINANCIAL REVIEW
Going concern
The Trustees consider that the charity has sufficient resources to continue in operational existence for the foreseeable future. They therefore continue to adopt the going concern basis while preparing the financial statements.

Financial Risk Management objectives and policies
The nature of the charity's activities do not give rise to meaningful foreign exchange, interest rate, credit or liquidity risks. Income is generally collected ahead of activities being delivered, or is received from donations and grants. Internal financial procedures are reviewed regularly and payments require dual authority from managers, and the Farm's funds are held in accounts with a major high street bank.

Principal funding sources
Principal funding comes from earned income generated on the Farm, supplemented by grants, donations and occasional
legacies. The most significant grant remains that received from Merton Borough Council.

Review of the period
Details of the income and expenditure in the year and the fund balances at the year end are set out in the statement of financial activities.

Reserves policy
The charity has long held the policy that reserves should be built up to cover core expenses should income be affected by adverse events. This remains a challenge, and the Board and staff continue to be aware of the need to build up reserves.


DEEN CITY FARM LIMITED (REGISTERED NUMBER: 02577067)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024


PLANS FOR FUTURE PERIODS
While the Farm continues to receive generous support from Merton Borough Council, the trustees have acknowledged for many years that this cannot be relied on to continue indefinitely. In March 2022, the trustees agreed with the Council to a phased reduction in the grant received by 10% per annum for 5 consecutive years from the financial year 2023/24 onwards. The Board, and staff, focus is therefore to continue to improve our voluntary and earned income. Increasing the latter may require investment in new facilities, as we are reaching full capacity in several areas. A priority for trustees for the forthcoming year is to therefore review our assets to ensure that we are maximising their value to us. Further to this review, trustees will determine whether an accompanying investment strategy needs to be developed to implement the recommendations

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is constituted as a company limited by guarantee and was incorporated on 28 January 1991. The company 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. In the event of the company being wound up, members are required to contribute an amount not exceeding £1.

Recruitment and appointment of new trustees
The directors of the charitable company ('the charity') are its trustees for the purpose of charity law and throughout this report are collectively referred to as the Board. Trustees are elected to the Board by members of the charity. The chairman of the trustees is elected by the Board of Trustees.

Organisational structure
The charitable company is governed by its Trustee Board which is responsible for setting the strategic direction of the organisation and the policy of the charity. The Trustees carry the ultimate responsibility for the conduct of the charity and for ensuring that it satisfies its legal and contractual obligations. The Trustee Board meets at least quarterly and there are additional meetings of appropriate members or groups as required. The day-to-day operation of the organisation has been delegated to the General Manager and senior management team In addition, there is an experienced team of paid staff and a substantial team of volunteers who are key to providing the services offered. by the charity.

Risk management
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate exposure to major risks.

The sources of the Farm's income continue to broaden, and the proportion of earned income has risen. Management are working to continue to reduce the charity's dependence on the funding it receives from the London Borough of Merton.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
02577067 (England and Wales)

Registered Charity number
1008028

Registered office
39 Windsor Avenue
Merton Abbey
London
SW19 2RR


DEEN CITY FARM LIMITED (REGISTERED NUMBER: 02577067)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024


Trustees
M N Linden - Chair
E Flanagan - Treasurer
J Crush (appointed 26/9/23)
R Dollimore (appointed 26/9/23)
J Grainger (appointed 26/9/23)
D R J Laird (appointed 28/4/23)
H R L Nelless
K T Turner
L J Liell (resigned 25/7/24)
V H Challacombe (appointed 28/4/23) (resigned 7/5/24)
G W S Cheung (resigned 7/5/24)
S J Conkling (resigned 7/5/24)
L Davis (appointed 28/4/23) (resigned 7/5/24)
A Ryan (resigned 23/4/23)

Company Secretary
K T Turner

Independent Examiner
Hartley Fowler LLP
Chartered Accountants
4th Floor Tuition House
27-37 St George's Road
Wimbledon
London
SW19 4EU

Bankers
CAF Bank Limited
25 Kingshill Avenue
Kingshill
Kent
E17 5AH

Approved by order of the board of trustees on 16 October 2024 and signed on its behalf by:





M N Linden - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
DEEN CITY FARM LIMITED


Independent examiner's report to the trustees of Deen City Farm Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.

Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.








Jonathan Askew
The Institute of Chartered Accountants in England and Wales

Hartley Fowler LLP
Chartered Accountants
4th Floor Tuition House
27-37 St George's Road
Wimbledon
London
SW19 4EU

16 October 2024

DEEN CITY FARM LIMITED

STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Unrestricted Restricted Total Total
fund funds funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Grants and donations 233,719 17,140 250,859 177,256

Charitable activities
Riding school 166,039 - 166,039 162,032
Visitor services 140,414 - 140,414 130,429
Livestock and animals 70,439 - 70,439 82,040
General 6,740 - 6,740 5,417

Investment income 2 1,266 - 1,266 442
Total 618,617 17,140 635,757 557,616

EXPENDITURE ON
Charitable activities
Riding school 163,314 5,086 168,400 182,602
Visitor services 125,654 2,405 128,059 112,464
Livestock and animals 118,233 11,771 130,004 112,472
General 214,402 - 214,402 160,939
Total 621,603 19,262 640,865 568,477

NET INCOME/(EXPENDITURE) (2,986 ) (2,122 ) (5,108 ) (10,861 )


RECONCILIATION OF FUNDS
Total funds brought forward 114,374 2,122 116,496 127,357

TOTAL FUNDS CARRIED FORWARD 111,388 - 111,388 116,496

CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.

DEEN CITY FARM LIMITED (REGISTERED NUMBER: 02577067)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 9 34,460 50,503

CURRENT ASSETS
Stocks 10 6,655 6,051
Debtors 11 16,512 6,318
Cash at bank and in hand 108,916 113,682
132,083 126,051

CREDITORS
Amounts falling due within one year 12 (42,062 ) (36,784 )

NET CURRENT ASSETS 90,021 89,267

TOTAL ASSETS LESS CURRENT LIABILITIES 124,481 139,770

CREDITORS
Amounts falling due after more than one year 13 (13,093 ) (23,274 )

NET ASSETS 111,388 116,496
FUNDS 16
Unrestricted funds 111,388 114,374
Restricted funds - 2,122
TOTAL FUNDS 111,388 116,496

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.


DEEN CITY FARM LIMITED (REGISTERED NUMBER: 02577067)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 16 October 2024 and were signed on its behalf by:





M N Linden - Trustee

DEEN CITY FARM LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

a) Preparation of the accounts on a going concern basis

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

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the charity where this can quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers.

Donated services or facilities are recognised when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognised and refer to the trustees' report for more information about their contribution.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

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


DEEN CITY FARM LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


1. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Improvements to property - 15% on reducing balance
Plant and machinery - 10% on cost
Fixtures and fittings - 15% on reducing balance

All assets costing more than £1,500 are capitalised.

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

Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

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

Fund accounting
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.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Basic financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayment are valued at the amount repaid net of any trade discounts due.

Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.


DEEN CITY FARM LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. INVESTMENT INCOME
2024 2023
£    £   
Deposit account interest 1,266 442

3. SUPPORT COSTS
Management
£   
Riding school 121,621
Visitor services 114,467
Livestock and animals 102,559
General 176,776
515,423

Support costs, included in the above, are as follows:

Management
Livestock
Riding Visitor and
school services animals
£    £    £   
Wages 100,345 98,996 96,405
Social security 6,411 4,994 3,569
Pensions 1,799 1,274 1,007
Insurance 8,228 709 -
Advertising - 690 -
Operational costs 886 6,628 26
Premises costs - 443 800
Bank charges and interest 3,952 733 752
Loan interest - - -
Independent examiner's fees - - -
Bookkeeping and accountancy - - -
Depreciation of tangible and heritage assets - - -
121,621 114,467 102,559
2024 2023
Total Total
General activities activities
£    £    £   
Wages 68,610 364,356 329,998
Social security 4,141 19,115 22,775
Pensions 1,270 5,350 4,781
Insurance 10,445 19,382 12,358
Advertising 908 1,598 6
Operational costs 49,274 56,814 20,088
Premises costs 13,647 14,890 13,918
Bank charges and interest 713 6,150 8,182
Loan interest 720 720 961
Independent examiner's fees 1,520 1,520 1,450
Bookkeeping and accountancy 7,723 7,723 6,510
Depreciation of tangible and heritage assets 17,805 17,805 14,819
176,776 515,423 435,846

DEEN CITY FARM LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. NET INCOME/(EXPENDITURE)

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

2024 2023
£    £   
Depreciation - owned assets 17,803 14,820

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.


6. STAFF COSTS

The average monthly number of employees during the year was as follows:

2024 2023
Staff 15 21

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

7. INDEPENDENT EXAMINER'S REMUNERATION

20232022
££
Independent examination1,4501,350
Accountancy3,4753,290
4,9254,640

8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund funds funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Grants and donations 167,199 10,057 177,256

Charitable activities
Riding school 162,032 - 162,032
Visitor services 130,429 - 130,429
Livestock and animals 82,040 - 82,040
General 5,417 - 5,417

Investment income 442 - 442
Total 547,559 10,057 557,616

EXPENDITURE ON
Charitable activities
Riding school 182,602 - 182,602

DEEN CITY FARM LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
fund funds funds
£    £    £   
Visitor services 112,437 27 112,464
Livestock and animals 105,137 7,335 112,472
General 154,492 6,447 160,939
Total 554,668 13,809 568,477

NET INCOME/(EXPENDITURE) (7,109 ) (3,752 ) (10,861 )


RECONCILIATION OF FUNDS
Total funds brought forward 121,483 5,874 127,357

TOTAL FUNDS CARRIED FORWARD 114,374 2,122 116,496

9. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 April 2023 14,284 61,873 67,295 143,452
Additions - - 1,760 1,760
At 31 March 2024 14,284 61,873 69,055 145,212
DEPRECIATION
At 1 April 2023 11,674 25,624 55,651 92,949
Charge for year 391 15,468 1,944 17,803
At 31 March 2024 12,065 41,092 57,595 110,752
NET BOOK VALUE
At 31 March 2024 2,219 20,781 11,460 34,460
At 31 March 2023 2,610 36,249 11,644 50,503

10. STOCKS
2024 2023
£    £   
Animal supplies, shop and cafe 6,655 6,051


DEEN CITY FARM LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 5,865 1,443
Other debtors 3,122 -
Prepayments 7,525 4,875
16,512 6,318

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 14) 10,183 9,931
Trade creditors 6,921 392
VAT 12,176 10,807
Other creditors 8,932 8,104
Accrued expenses 3,850 7,550
42,062 36,784

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 14) 13,093 23,274

14. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year on demand:
Bank loans 10,183 9,931
Amounts falling between one and two years:
Bank loans - 1-2 years 10,441 10,183
Amounts falling due between two and five years:
Bank loans - 2-5 years 2,652 13,091

15. ANALYSIS OF NET ASSETS BETWEEN FUNDS
2024 2023
Unrestricted Restricted Total Total
fund funds funds funds
£    £    £    £   
Fixed assets 34,460 - 34,460 50,503
Current assets 132,083 - 132,083 126,051
Current liabilities (42,062 ) - (42,062 ) (36,784 )
Long term liabilities (13,093 ) - (13,093 ) (23,274 )
111,388 - 111,388 116,496


DEEN CITY FARM LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


16. MOVEMENT IN FUNDS
Net
movement At
At 1/4/23 in funds 31/3/24
£    £    £   
Unrestricted funds
General fund 114,374 (2,986 ) 111,388

Restricted funds
Jack Petchey Fund 1,200 (1,200 ) -
Mayor's Community Fund 922 (922 ) -
2,122 (2,122 ) -
TOTAL FUNDS 116,496 (5,108 ) 111,388

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

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 618,617 (621,603 ) (2,986 )

Restricted funds
Jack Petchey Fund - (1,200 ) (1,200 )
Mayor's Community Fund - (922 ) (922 )
Wimbledon/London Community Fund 9,687 (9,687 ) -
Together Fund: Changing Lives Through
Horses

3,003

(3,003

)

-
Community Drugs & Alcohol Services
(CDARS)

4,450

(4,450

)

-
17,140 (19,262 ) (2,122 )
TOTAL FUNDS 635,757 (640,865 ) (5,108 )


Comparatives for movement in funds

Net
movement At
At 1/4/22 in funds 31/3/23
£    £    £   
Unrestricted funds
General fund 121,483 (7,109 ) 114,374

Restricted funds
General 5,847 (5,847 ) -
Visitor services 27 (27 ) -
Jack Petchey Fund - 1,200 1,200
Mayor's Community Fund - 922 922
5,874 (3,752 ) 2,122
TOTAL FUNDS 127,357 (10,861 ) 116,496

DEEN CITY FARM LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


16. MOVEMENT IN FUNDS - continued

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

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 547,559 (554,668 ) (7,109 )

Restricted funds
General - (5,847 ) (5,847 )
Livestock 7,335 (7,335 ) -
Visitor services - (27 ) (27 )
Jack Petchey Fund 1,800 (600 ) 1,200
Mayor's Community Fund 922 - 922
10,057 (13,809 ) (3,752 )
TOTAL FUNDS 557,616 (568,477 ) (10,861 )

The restricted funds represent amounts that have been donated or granted to the farm on the basis that they are used in a specific manner. The exception to this is the general fund where costs have been funded by grant giving bodies to meet the general running overheads of the farm. These grants in particular are particularly appreciated due to the flexibility they give us in managing the farm's activities.

17. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2024.

18. ULTIMATE CONTROLLING PARTY

The trustees are the immediate and ultimate controlling party.

Each of the trustees signs up as a "Friend of the Farm" and so makes a donation that varies between £5 a month and £15 per annum. No other significant donations from trustees have been noted.

19. COMPANY LIMITED BY GUARANTEE

The charity is a company limited by guarantee. The members of the company are the trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.