The trustees present their report and financial statements for the year ended 31 August 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charitable company'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 (FRS 102) (effective 1 January 2019)".
The Trustees of Kehelland Horticultural Centre Ltd ('charitable company'), Staff and Volunteers continue to be committed to the charity’s mission statement: -
“The provision of a rural, horticultural setting for the support of young people and adults with learning and/or physical disabilities. Developing personal and social skills, individual opportunities and active participation in the local Community”
Adhering to the charity's mission statement, the charitable company was incorporated in 1983. Since standing alone as a charity in 2011, the charitable company has maintained close and positive partnerships with Cornwall Council and the department of Adult Social Care and Cornwall Adult Education. The charitable company is also a registered training provider with OCN London.
The Charity trades as the Kehelland Trust.
The focus this financial year has been to continue to maintain our service as best as possible and diversify services to meet organisational and individual needs.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charitable company should undertake.
The Trustees consider that they have complied with their duty in section 17 (5) of the Charities Act 2011, which requires them to have due regard to guidance published by the Charity Commission.
Over the past 12 months we have:
Provided support for 73 trainees on individual budgets within our day service.
Continued to work with Cornwall Adult Education and OCN London (our awarding body for the education programme) to deliver meaningful and enriching education programmes to young adults aged 16-25 who have an Education, Health and Care Plan. These programmes develop training and support opportunities for young people and those in transition from education to employment. Our education provision continues to be externally assessed as exemplary.
Continued developments in the classroom areas and IT network to ensure efficient use of all resources and a professional image.
Enhanced our education assessment methods further, with video and photographic evidence of achievement now being utilised in more units.
Expanded our embedding of engaging with educational ICT throughout our offering, with elements such as Canva, Kahoot and Blooket being regularly used by tutors.
Developed work experience programmes with learners partnering with Camborne Town Council on several tree planting events across Camborne and surrounding public parcs and grounds.
Continued to celebrate & enhance our brand image to provide a clear message about who we are and what we do without restricting our potential to expand. On social media we now have 3.5k page likes and 4.3k followers with 750 posts and 1253 followers on Instagram with an average monthly reach of 32,839.
Opened a new shop on Camborne high street on 20th January 2024, with financial support from CIOS Growth Hub and Camborne BID project A-Void supporting new shops with necessary infrastructure works for opening such as signage and shop fittings.
Reduced wastage on site, fully utilising our produce wherever possible resulting in improved profitability. The new retail outlet in Camborne allows a steady flow of produce from site to sale meaning vastly reduced waste, improved profitability as our reliance on wholesale has reduced and better visibility and support for our fresh, local & seasonal produce.
Continued to supply a range of local provenance, native perennial wildflower stock with partnership working with Cormac’s new biodiversity team ‘Urban Green Shoots’ running meadow workshops to include scything demonstrations and a meadow experiment to look at optimum sowing schedules for best results.
Designed and planted bedding contracts for Helston Town Council, Perranporth Garden Charities, grew on plants for Camborne Town Council perennial scheme, designed and supplied a gardening project for supporting re-housed refugees, started partnership working with Baker Tom.
Continued to grow native trees from seed and graft heritage Cornish Apple Trees from our Community Tree Nursery thanks to funds from Cornwall Council’s Forest for Cornwall Project. This is led by our Learner Horticultural Work Experience team with events organised and run by our Horticulture & Projects Manager alongside skilled staff and guest partners such as Resilient Orchards Cornwall.
Maintained and enhanced our 16-acre site.
Maintained our peat-free & minimal chemical use status for our own growing, using biological controls against pests. Reducing the amount of single-use-plastic as far as possible. Continuing with a no-dig approach to the land across site to further improve our biodiversity.
Ran many specialist workshops across the year: Apple tree pruning (winter and summer), grafting, pruning, wreath making, nest box making & tree planting. We ran an Orchard conference in the Spring of 2024 which was fully booked for talks, lectures and demonstrations about all manner of orchard-related experiences, skills and knowledge. Speakers on Wildlife, Ramial mulch and biochar, orchard biodiversity, meadow creation and more.
Hosted guided tours for visiting groups and did outreach talks and slide shows for Community Groups. Fuchsia Society, a group of women growers from Myanmar who feed 1000s of individuals displaced by civil war in the country. They harvested and pressed apples from our apple tree grown by a village resident from the pip of an apple eaten in Myanmar and took the juice back with them to Myanmar – very special! Godolphin Community Group, Kerrier U3A, St Ives U3A, Leedstown CAMEO group.
Continued to develop our group volunteer programmes. Groups have included Seasalt Cornwall who visited twice totalling 40 members of staff. Other community days and volunteering days have attracted people to the site.
We attended outreach events; Camborne GreenFest, Camborne Show, Stithians Show, West of England Steam Rally.
What do we need to focus on for 2024/2025?
Ensuring there is adequate & appropriate infrastructure for our day service and education programmes.
Market our education programmes to ensure we have full capacity of delivery for 2025/2026.
Ensure care and support services continue as best as possible to ensure full capacity.
Monitoring and responding to the impact of the ongoing cost-of-living crisis on our staff team, trainees, learners, volunteers & visitors.
31 trainees every day on our day service. The Trust currently provides a service for 67 trainees, an average of 29 placements per day.
Continue to develop our education programmes to ensure they meet the highest standards and identified skills needs, aligned with learner and local priorities, with a target of 36 learners per year.
To do what we can to maintain stability for the charity, staff team, trainees, learners, volunteers & visitors.
Continue to build on our existing marketing strategy and our presence on the worldwide web and social media network
Further develop corporate volunteering and sponsorship initiatives.
Ensure that weddings, private functions & vibrant community-led events and celebrations continue.
Maintain and build on sales income & particularly our profit margins, supporting & upholding our provision. Build on our in-house production of sales items, improve our seed-saving capabilities by ordering suitable seeds.
Continue to develop our online sales presence.
Continue to develop our native plant growing & Community Tree Nursery programmes to support re-wilding and pollinator projects across the County.
Continue to grasp opportunities across funding streams, educational provision and life-skills support for all those we work with and want to work with into the future.
Continue to nurture positive business partnerships.
Further invest in site enhancement and maintenance.
The introduction of our new Business Plan for 2025-2030.
Reasons to celebrate at the turn of the financial year
We continue to work under Cornwall Council’s Framework for our day service. This has a far-reaching impact; not only on our accessibility, but on the levels of care we can provide.
Our staff team continues to develop, both to facilitate growth, ensure exemplary education programmes & day-care support. Staff continue to be supported to develop their skillsets, with designated members of staff now being responsible for the Bespoke provision, running our social media and delivering training on the technology we use to external providers. We continue to look for ways we can facilitate our staff in developing their interests in a way that also has benefits for our learners, trainees, the Trust and other professionals.
At our external monitoring visit from our awarding organization (OCN London), our feedback once again reflected that our provision is exemplary across the board, with no areas for improvement.
Our Education Provision continues to provide excellent programmes with 27 learners this year, thanks to a subcontract with Adult Education. We also delivered Bespoke programs (through Cornwall Council) to two learners.
In our end-of-year learner questionnaire, all learners rated the Kehelland Trust as being the top possible mark for “do you feel safe at Kehelland”.
The charitable company has been successful in its application to provide the Duke of Edinburgh Award for our learners, with 21 learners enrolled.
The Board of Trustees would like to thank the whole team at Kehelland Trust for showing extraordinary adaptability and dedication to the work of the charity, to each other, the trainees, learners, families, and volunteers. It has been another challenging year which we have faced confidently & positively. We can be assured that Kehelland Trust will continue to provide exemplary care, support & educational opportunities for young people and adults with disabilities in Cornwall; all set within the stunning backdrop of 16 acres of productive land, rich in both managed crops & wildlife providing both sustenance and sanctuary.
During this period, the Kehelland Trust achieved incoming resources of £1,481,090 (2023 - £1,341,268) and outgoing resources of £1,595,073 (2023 - £1,471,427), an overall deficit in income over expenditure of £113,983 (2023 - £130,159).
Our main expenditure continues to be staff salaries in order to maintain a skilled and experienced staff team that can support the changing needs of our service users, and the diversification of services / business development needed.
Over the last 5 years, Kehelland Trust had been pulling back from a large deficit, however, the deficit these last 2 years is indicative of funding resources not keeping pace with the increase in costs of goods and services as well as the National Living Wage.
Investment in staff has continued to account for our highest cost but has the highest return as maintaining a highly skilled and experienced staff team enables us to continue to provide excellent services for the people we support.
| 2023/2024 | 2022/2023 | 2021/2022 (17 months) | 2020/2021 | 2019/2020 |
Income | £1,481,090 | £1,341,268 | £1,614,888 | £940,877 | £696,563 |
Outgoings | £1,595,073 | £1,471,427 | £1,559,458 | £783,387 | £633,524 |
Income over expenditure | -£113,983 | -£130,159 | +£55,430 | +£157,490 | +£63,039 |
Reserves policy
The Board of Trustees recognise that in order that the charitable company may not only survive, but fulfil its objectives, it requires adequate finances to ensure that we can meet our statutory requirements and both working capital and capital expenditure requirements. The charitable company strives to maintain a healthy solvency barrier and adheres to the Reserves and Solvency Policy, which is reviewed annually.
Summary of Funds
| 31/08/2024 | 31/08/2023 | 31/03/2022 | 31/03/2021 | 31/03/2020 |
Total Funds | £286,034 | £400,017 | £530,176 | £430,537 | £317,256 |
Cash at bank and in hand | £233,180 | £344,267 | £433,165 | £347,564 | £234,698 |
Tangible assets and stock | £58,507 | £62,832 | £68,081 | £70,205 | £69,481 |
Debtors less creditors | -£5,653 | -£7,082 | £28,930 | £12,768 | £13,077 |
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be at least £250,000. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. At 31 August 2024 the total funds held by the charity were £286,034 (2023: £400,017).
After excluding tangible fixed assets of £36,061 (2023: £40,315) and restricted funds of £7,762 (2023: £nil), the free reserves balance is £242,211 (£359,702) which falls slightly below the target level. The trustees are obviously mindful of this and focused on ensuring we operate efficiently and effectively in the challenging environment we operate in. We are now operating at full capacity which ensures revenue from Cornwall Council is maximised. We are mindful of keeping costs under control and adapting our resources accordingly. We are aiming to build up our reserves over the coming year and ensure that we are well in excess of the minimum.
The trustees assessed the major risks to which the charitable company is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
The organisation is a Charitable Company limited by guarantee, incorporated on 13th April 1983 and registered as a charity on 20 January 1984.
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.
Business and Management are driven by the Mission Statement as noted under 'Objectives and activities'.
The charitable company has continued to face difficulties due to increases in the cost of living, goods and services, national minimum wage and staff salaries, and funding not keeping pace with these. Our priority has continued to be to operate in a safe and secure manner for all our trainees, learners & staff, whilst effectively delivering services.
Our thanks to all the staff, trainees, carers, volunteers, and partners who have demonstrated that a flexible and adaptable approach can help us overcome obstacles. We have continued to fulfill our mission statement, maintain a cohesive and ever-growing team managing both horticultural support work and day care provision and our own education programmes alongside supporting the immediate community.
The Board of Trustees continues to govern the charity in a positive and solution-focused way.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
None of the trustees has any beneficial interest in the charitable company. All of the trustees are members of the charitable company and guarantee to contribute £5 in the event of a winding up.
The Trustees consider that they have complied with their duty in section 17 (5) of the Charities Act 2011, which requires them to have due regard to guidance published by the Charities Commission.
The Company is managed by a Board of Trustees; the members of which discharge the functions of a Board of Directors. The number of Trustee seats on the Board must be no less than 3. The Trustees are as stated above and are unremunerated. Induction procedures are in place for newly appointed Trustees, with DBS checks and references requested and recorded.
During the reporting period the Board of Trustees met at regular intervals to receive reports from the Chief Executive and make decisions. Key Performance Indicators, Risk Registers, Finance Reports and staff structure updates formed the basis of meetings with the Chief Executive reporting to the board, making recommendations and the Board voting on decisions as necessary. Day-to-day management of the company is carried out by the Chief Executive and Team Leaders. Management keeps in touch with members of the board as appropriate.
In accordance with the company's articles, a resolution proposing that Azets Audit Services be reappointed as auditor of the company will be put at a General Meeting.
The trustees' report was approved by the Board of Trustees.
The trustees, who are also the directors of Kehelland Horticultural Centre Limited for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (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 state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Opinion
We have audited the financial statements of Kehelland Horticultural Centre Limited (the ‘charitable company’) for the year ended 31 August 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes 1 to 21 to the financial statements, including 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:
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements 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.
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.
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 for the financial year for which the financial statements are prepared, which includes the directors' report prepared for the purposes of company law, is consistent with the financial statements; and
the directors' report included within the trustees' report has been prepared in accordance with applicable legal requirements.
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' report.
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, or returns adequate for our audit have not been received from branches not visited by us; or
the 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 information and explanations we require for our audit; or
the trustees were not entitled to prepare the financial statements in accordance 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.
As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charitable company for the purpose of company law, are responsible for the preparation 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 necessary 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 charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern 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.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that 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 always 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.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Extent to which the audit was considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.
We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.
In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:
Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;
Reviewing minutes of meetings of those charged with governance;
Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entity through enquiry and inspection;
Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 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 auditor's 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.
Other trading activities
Staff costs and charitable expenditure
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Kehelland Horticultural Centre Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Kehelland, Camborne, Cornwall, TR14 0DD, United Kingdom.
The company has no share capital. The liability of each member who has subscribed to the company's Memorandum & Articles of Association is limited in the event of a winding up to £5.
The financial statements have been prepared in accordance with the charitable company'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 (FRS 102) (effective 1 January 2019)". The charitable company is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest pound sterling.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The trustees have assessed the use of the going concern basis and have considered possible events or conditions that might cast a significant doubt on the ability of the charity to continue as a going concern. The trustees have considered a period of at least twelve months from the date of approval of these financial statements. In particular, the trustees have considered the charity's available cash balances in conjunction with expected working capital requirements and have concluded that there is a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future.
The trustees are of the view that there are no material uncertainties that may create significant doubt over the charity's ability to continue as a going concern. The charity therefore continues to adopt the going concern basis in preparing its financial statements.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Income is recognised when the charitable company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charitable company 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 charitable company 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.
Grant income is recognised when the charity has entitlement to the funds, any performance conditions attached to the grant have been met, it is probable that the income will be received and the amount can be measured reliably.
Trading income is recognised when the goods or services have been provided, typically at the point of sale, or as services are performed.
Interest income is recognised using the effective interest rate method.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs 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.
The charity is partially exempt for VAT purposes due to the nature of its incoming resources. On a quarterly basis the VAT is attributed to the expenses to which it originated from.
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
At each reporting end date, the charitable company reviews the carrying 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 determine the extent of the impairment loss (if any).
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
The charitable company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charitable company's balance sheet when the charitable company 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.
Basic financial assets, which include debtors, 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.
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 at 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 rate 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 current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the charitable company’s contractual obligations expire or are discharged or cancelled.
The charity is exempt from corporation tax on its charitable activities.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Government grants
Personal Budgets
Education Income
Personal Budgets
Education Income
Adult social care
Kitchen income
Lettings income
Staff costs and charitable expenditure
Staff costs and charitable expenditure
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Advertising
Travel and subsistence
Motor expenses
Rent
Uniform and protective clothing
Repairs and renewals
Cleaning and laundry
Staff training
Professional fees
Dance and other activities
Bank charges
IT support and broadband
Payroll services
Support costs are not attributable to a single activity but rather provide the organisational infrastructure that enables output activities to take place.
During the year the trustee S L Pyner received a salary of £34,858 (2023: £33,013) in respect of her employment as the Horticultural Coordinator.
Other than the above, none of the trustees (or any persons connected with them) received any remuneration or benefits from the charitable company during the year (2023: none).
The average monthly number of employees during the year was:
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
Payments for Provision of Assets
i) Pre 1 April 1985
In order that the company may have the use of assets at a cost excluding VAT, certain assets were purchased by Cornwall Council utilising funds raised by the Company. Although the title of these assets remains with Cornwall Council, the Company understands that the Council will permit the assets to be treated as though the title vested with the Company.
ii) Post 1 April 1985
From 1 April 1985, when the company registered for VAT purposes, all assets have been purchased through the company and title rests with the company.
The charitable company had no debt during the year.
Growth Hub Grant - In order to address the pressures on space on our site at Kehelland, we located a town centre shop site in Camborne for our sales operations. This allowed us to apply for a grant from the Cornwall and Isles of Scilly Growth Hub to assist us with developments in town and fund much needed infrastructure improvements on site. The grant, which we were required to match-fund, allowed better digital & physical access in the shop in Camborne; it covered the cost of our new Electronic Point of Sales System, disabled access lift, kitchen & accessible toilet. The grant also part funded providing power and WiFi to our onsite shop.
At the reporting end date the charitable company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
The remuneration of key management personnel is as follows.
During the financial year S Pyner, spouse of Sally Pyner (trustee), was employed by the charity and was paid a gross salary of £1,553 (2023: £1,607).
During the period payments were made to Resilient Orchard Cornwall CIC, a CIC in which Sally Pyner (trustee) is a director, of £480 (2023: £945) relating to event expenditure. There was no outstanding balance at the year end (2023: £240).