SOCIAL FARMS AND GARDENS

Company limited by guarantee

Company Registration Number:
02011023 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 1 April 2023

End date: 31 March 2024

SOCIAL FARMS AND GARDENS

Contents of the Financial Statements

for the Period Ended 31 March 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

SOCIAL FARMS AND GARDENS

Directors' report period ended 31 March 2024

The directors present their report with the financial statements of the company for the period ended 31 March 2024

Principal activities of the company

Review of Activities 2023-24 The charity has a wealth of resources and experience, built up over 40 years to offer new members and the sector. SF&G have taken part in demonstration projects, primary research and policy writing for the sector to ensure this growth continues and is supported by local, devolved and central government. Our members contribute significantly to individual, community and environmental health and well-being delivering climate action at a hyper local level - regenerative land use, increase of biodiversity, community land management and stewardship, while producing fresh local food. SF&G has operated an Executive Team management model, with representation across the UK, since February 2021. This has increased competency and collaboration at both a strategic and operational level and has provided significant economic efficiency in challenging financial times. SF&G has attracted additional funding across the UK from a range of funders and consultancy contracts. The Board would like to acknowledge the resilience and effort of all staff.

Political and charitable donations

Social Farms and Gardens strives to have diverse funding streams. A large proportion of our funding is from Charitable Trust grants, we continue to receive grant support from the Scottish Government. In addition, SF&G tenders for contract work with devolved country governments and Local Authorities. In Wales, we have secured European Union Funding through the Welsh Government for predominantly capital programmes. We also earn income from: training programme delivery, consultancy work, partnership initiatives, research projects, managing grants to our members and modest philanthropic donations.

Additional information

Financial management and checks A trustee and the Company Secretary are delegated to carry out financial controls on income and expenditure including payroll, credit cards and bank transfers. Random sample checks are undertaken by other trustees. A system is in place that significant expenditure is authorised by a trustee and all expenditure is monitored, checked and countersigned. Expenditure against budget is monitored monthly. The Trustees are confident that appropriate checks are in place. Additional financial controls include: Providing clear and accurate management reports, quarterly The Trustees are informed promptly of any major changes in our financial position. Financial policies and strategies are up to date, agreed by the Board and implemented. Continuing to work to the SORP and any other accepted good practice. The Trustees have assessed the major risks to which the organisation is exposed, in particular those associated with finance and operations and are satisfied that systems are in place to mitigate exposure to major risks. Internal risks are minimised by the implementation of effective systems and control procedures, which ensure appropriate authorisation of projects and transactions, and consistent quality of delivery.



Directors

The directors shown below have held office during the period of
1 June 2023 to 31 March 2024

Caroline Hutton
Malachy Dolan


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
31 December 2024

And signed on behalf of the board by:
Name: Caroline Hutton
Status: Director

SOCIAL FARMS AND GARDENS

Profit And Loss Account

for the Period Ended 31 March 2024

2024 2023


£

£
Turnover: 1,375,559 1,463,352
Gross profit(or loss): 1,375,559 1,463,352
Administrative expenses: ( 1,441,681 ) ( 1,603,527 )
Other operating income: 1,578
Operating profit(or loss): (66,122) (138,597)
Profit(or loss) before tax: (66,122) (138,597)
Profit(or loss) for the financial year: (66,122) (138,597)

SOCIAL FARMS AND GARDENS

Balance sheet

As at 31 March 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 6,802 163,126
Total fixed assets: 6,802 163,126
Current assets
Debtors: 4 237,223 707,713
Cash at bank and in hand: 98,943 94,724
Total current assets: 336,166 802,437
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 5 ( 126,144 ) ( 529,208 )
Net current assets (liabilities): 210,022 273,229
Total assets less current liabilities: 216,824 436,355
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): 216,824 436,355
Members' funds
Profit and loss account: 216,824 436,355
Total members' funds: 216,824 436,355

The notes form part of these financial statements

SOCIAL FARMS AND GARDENS

Balance sheet statements

For the year ending 31 March 2024 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 31 December 2024
and signed on behalf of the board by:

Name: Caroline Hutton
Status: Director

The notes form part of these financial statements

SOCIAL FARMS AND GARDENS

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 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

    All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and it is probable that the income will be received. For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained, then income is deferred until those conditions are fully met or the fulfillment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Assets costing less than £1000 are not capitalised. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: Plant and machinery: 15% on reducing balance Computer and office equipment: 30% on reducing balance Long leasehold: over 60 years Building: over 60 years

    Other accounting policies

    Expenditure recognition All expenditure is accounted for on an accrual basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. It is categorised under the following headings: Expenditures from raising funds include advertising and marketing for donations and fees charged by online giving platforms Expenditures from charitable activities include activities in furtherance of the charity’s objects Expenditures on trading activities and other costs represent those items not falling into the categories above and include governance costs. Governance costs are those incurred in connection with the administration of the company and compliance with constitutional and statutory requirements. Irrecoverable VAT is charged as an expense against the activity for which the expenditure arose.

SOCIAL FARMS AND GARDENS

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 20 20

SOCIAL FARMS AND GARDENS

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2023 196,758 7,246 74,668 278,672
Additions 0 0 0 0
Disposals ( 196,758 ) 0 0 ( 196,758 )
Revaluations 0 0 0
Transfers 0 0 0
At 31 March 2024 0 7,246 74,668 81,914
Depreciation
At 1 April 2023 43,349 7,246 64,951 115,546
Charge for year 0 0 2,915 2,915
On disposals ( 43,349 ) ( 43,349 )
Other adjustments 0 0
At 31 March 2024 0 7,246 67,866 75,112
Net book value
At 31 March 2024 0 0 6,802 6,802
At 31 March 2023 153,409 0 9,717 163,126

SOCIAL FARMS AND GARDENS

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Debtors

2024 2023
£ £
Trade debtors 237,223 707,713
Total 237,223 707,713

SOCIAL FARMS AND GARDENS

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 29,231 213,132
Other creditors 96,913 316,076
Total 126,144 529,208

SOCIAL FARMS AND GARDENS

Notes to the Financial Statements

for the Period Ended 31 March 2024

6. Financial Commitments

Reserves Policy In accordance with the guidelines from the Charity Commission, the Trustees and Executive Team have reviewed the policy and continue to plan for ‘free reserves ‘of between three and six months running costs. This was calculated on ‘core’ costs, but at request of the staff, we have started making the calculation based on all costs. At 31 March 2024, the accounts show the following (previous year, 31 March 2023) General reserves: £13,103 (£64,902) Designated reserves – set aside for specific work: £77,298 (£280,361) this includes a fixed asset reserve of £6,802 (£163,126) Restricted reserves – advance payments on continuing projects: £126,203 (£89,762) To achieve a more appropriate level of reserves, the charity will continue to practice: Comprehensive funding bids: to cover overheads as well as direct costs. Some grant funding streams provide inadequate coverage for overheads Rigorous funding review process: a panel of senior staff with Board representation to ensure that all projects contribute to overheads and don’t endanger the organisation. Efficient operations and sound management of resources with oversight by the Executive Team and the Finance Manager Income generation by providing charged services such as consultancy and training. The Reserves policy is reviewed annually, and the reserves required are calculated quarterly to take account of changes in operating costs.