2023-01-31-accounts - Trebah Garden Trust

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Reference end edminlslregve dstsgs
Report of the	Council of	Management		2-7
Report of the	Independent	Auditors		8-10
Consolidated	Statement	ofFlnendel	Activities
Consogdsled	Statement	ofFinendsl	PoslNon	12
Charity Statement of Financial Position				13
Statement of	Cash Flows			14
Notes to Ihe	Financial Stelemenls			15-33

COUNCIL OF	MANAGEMENT	Mr H SBradshew
		Mr R Dudley-Cooke	(Chairmen)
		Mr M Harvey
		Mr T Hubbard
		Mrs S Nathan
		Mrs 6F Plpkln
		Mr C R Richardson
		Mr R FTownsend
COMPANY SECRETARY		Mr N Burnett
OPERATIONS	DIRECTOR	Mr N Burneil
REGISTERED	OFFICE	Trebsh
		Mewnsn Smith
		Felmouth
		Comwell
		TR115JZ
COMPANY REGISTERED NUMBER		02461558 (England	end	Wales)
CHARITY REGISTERED NUMBER		1000067
AUDITORS		Hodgsons
		Chartered Accountants		snd Slelulory Audllors
		48 Anveneck Street
		Fslmouth
		Comwell
		TR113JH
BANKERS		Bsrclsys Bank Pic
		14 King Street
		Tmro
		Cornwsg
		TR12RB
SOLICITORS		Hine Downing
		8-14 Berkeley Vale
		Fslmouth
		Cornwsll
		TR11 3PA

						Unrestricted	Unrestricted	Restricted	Total Funds	Total Funds
					Notes	Funds	2023	Funds 2023	2023	2022
							6	6	6	6
Incoming	Resources
Incoming	resources from charitable	activkies:
	Garden entrance fees						336,591		336,591	358,023
	Membership subscrlpiions						123,155		123,155	73,278
Incoming	resources from generating		funds
	Voluntary income						295,517	1,088	298,605	448,874
	Grants						1,820	33,000	34,820
	Activlkes for generating	funds
	Rent receivable snd		feckily hire				18,000		18,000	18,800
	Commercial trading		operations				936,929		936,929	893,440
	Event income						73,887		73,887	60,865
	Education:childrens			trails			6,298		5,298
	Solar penal Income						13,683		13,683	11,078
	Government grants									60,141
	Sundry receipts						16,991		16,991	169,648
	Investment income						465		465
TOTAL INCOMING RESOURCES							82	34,088		2,08,9
Resources Expanded
Costs ofgenerskng funds
	Fundralslng snd pubgdty						58,288		58,288	42,504
	Commercial trading operekons						929,752		929,752	892,631
	Event costs						98,806	33,000	131,806	54,842
	Financing costs						28,412		26,412	28,998
						1,113,258		33,000	1,146,258	1,018,975
Net Incoming resources available		for	charitable
sppkcetion							708,878	1,088	709,966	1,064,970
Charitable	eckvitles expenditure
	Cost of operation ofthe	garden			10		683,593	19,821	703,214	690,514
	Cost of operating memberships				10		13,826		13,828	10,007
	Governance costs								30,726	12,003
Total Charitable Expendgure								19,621	747,764	712,524
TOTAL RESOURCES EXPENDED									1,694 022	1,729,499
Net (expenditure) / income before		tex					(19,285)	(18,533)	(37,798)	352,446
Tex movement
Net (expenditure) / income after tax							(15,710)	(18,533)	(34,243)	356,449
Other recognised gains
Gain on revaluation of investment		property								35,000
Net movement In funds
Salsnce brought forward at 1 February Balance carried forward et 31January				2022 2023	23 23	5,221,824 ~5(7TT2		375,122 55F655	5,598,948 ~E27(F)	5,205,497 F3(KÃlE

		Note
			f.	8
FIXEDASSETS
fnlengible Assets		11				688
Tangible Assets		12		4,323,992		4,069,833
investment Property		13
				4,958,992		4,705,521
CURRENT ASSETS
Stocks Debtors Cash at bank snd in hand		15 16	110,514 80,330 572,583 ~0		99,048 50,477 930,727 ~080,252
CREDITORS
Amounts felling due within one year		17	~131386		~170942
NET CURRENT ASSETS						903,310
TOTAL ASSETS LESSCURRENT LIABILlllES				5,571,033		5,608,831
PROVISIONS FOR LIABILITIES		18		(8,330)		(I1,886)
NET ASSETS
RESERVES
Restricted reserves		23		353,204		371,737
Unrestricted reserves		23		2,676,121		2,590,831
Restricted revelueUon	reserve	23		3,385		3,385
Unrestricted revaluation	reserve	23

				Trebah Garden Tru	st	st
			Charity Statement	of Financial Position	as st 31January 2023
						2023	2022
					E	E	E	E
FIXEDASSETS
Intangible Assets				11				688
Tangible Assets				12		4,277,630		4,004,205
Investmenis				14		2		2
Investment Properly				13
						4,912,632		4,639,895
CURRENT ASSETS
Stocks				15
Debtors				16	304,440		561,035
Cash sl bank end in hand
							1,109,823
CREDITORS
Amounts feglng due wghin one year							121,280
NET CURRENT ASSETS						695,449		988,543
TOTAL ASSETS LESSCURRENT			LIABILITIES			5,608,081		5,628,438
PROVISIONS FOR LIABILITIES
NET ASSETS
RESERVES
Restricted reserves				23		353,204		371,737
Unrestricted reserves				23		2,620,499		2,622,323
Restricted revelueUon	reserve			23		3,385		3,385
Unrestricted revslusUon	reserve			23
Chergy's surplus for ihe flnsndel		ye	ar			f20,357)		301,824

						Trebah	Garden Trust
						Statement	ofCash Flows
					for the	Year ended 31stJanuary 2023
									2023	2022
								Notes	8
Cash Rows fram operating activities:
Cash generated from operations								28	(11,721)	487,483
Interest paid									206	734
Net cash	provided by (used In)	operating		activities						88,7 9
Cash flows from investing activities;
Purchase	of Intangible fixed assets
Purchase	of tangible fixed assets								(350,549)	(40,930)
Proceeds	from sale of properly, plant end		equipment						80	5,000
Proceeds	from letting Investment	property							18,000	16,800
Net cash	provided by (used in)	investing		activities					332,469	19130
Cash flows from financing activities:
Capital repayment of borrowings									13,768	(14,938l
Net cash	provided by (used in)	financing		activities					13788	14,938
Change	in cash and cash equivalents		in	the	reporting	period			(358,164)	452,681
Cash snd cash equivalents at the beginning					ofthe reporting
period								29	930,727	478,046
Cash and cash equivalents at lhe end			ofthe		reporting
period								29	572,563	930,727

							2023		2022
							8		f
Ospretfistlon of lsngible		fixed assets —owned		assets			96,390		95,983
Amorfisetion of intangible		fixed assets					688		11,852
Profit/(Loss) on sale	of tangible assets						80		2,195
Other opersfing leases end equipment Audilor's remuneration Audilor's fees —other services			hire				14,360 5,446 ~6		14,430 4,380
VOLUNTARY INCOME
							2023		2022
							f
Nel donafions under	gift	aid					230,951		350,212
Tex recoverable							57,738		87,553
Sundry donefions							2,910		4,507
Legacies							5,000		6,402
							296,605
INVESTMENT INCOME
					Group			Charity
				2023		2022	2023		2022
				8		F.	9		8
UK deposit account interest				465			465
Gift aid donation from	subsidiary
undertaking

CHARITABLE ACTIVITIES EXPENDITURE	CHARITABLE ACTIVITIES EXPENDITURE
	2023	2023	2023	2022
	unrestricted	Restricted	Total	Total
	Funds	Funds	Funds	Funds
		6	6	6
Cost ofoperation ofthe garden
Garden salaries snd wages	270,811	933	271,744	259,648
Support salaries and wages	181,421		181,421	145,182
Subcontractors
Garden plants and sundry expenses	12,849	165	13,004	8,521
Insurance	30,813		30,813	25,577
Motor and travel expenses	7,207		7,207	4,340
Light end heat	9,364		9,384	5,013
Rates end water	5,138		5,138	2,025
Rent payable	12,000		12,000	11,000
Repairs snd renewals	49,834		49,834	104,687
Cleaning and household expenses	10,256		10,256	9,341
Sundry expenses and Ncences	10,346		10,346	5,623
Depreciation and emortisetion	55,905	18,633	74,438	84,630
(Profit)l loss on sale ofassets	(80)		(80)	(2,195)
Equipment hire	11,894		11,894	11,614
Staff training and recruitment	3,510		3,510	2,898
Health and safety	2,070		2,070	1,936
Printing, postage end stationery Telephone Flel expenses	7,444 1,191 ~t 620		7,444 1,191 ~1620	4,471 4,791
			03 4
Cost ofoperating memberships Salaries	~13826
Governance costs
Audit and accountancy	8,950		8,950	7,950
Legal snd professional fees Consultancy fees	2,718 ~905		2,718 ~95	3,228

Group
	Freehold Propeny	P re eh old Sugdlnga	Squlpment and Fixtures	Motor	Velaclea
	6	F.
COST OR VALUATION
At I February 2022	3,485,943	2,082,742	781,817		12,949
Additions		324,054	12,995		13,500
At 31 January 2023	3,485,943	2,406,796	794,812		26,449
DEPRE 0IATI0N
At I February 2022 Charge for the year		1,652,004 ~34718	633,740 ~57 028		7,874
At 31 January 2023			690768
NET BOOK VALUE
At 31 Jsnuery 2023
At 31January 2022
					Total
					F.
COST OR VALUATION
Al 1 February 2022				6,363,451
Addglons
At 31Jsnusry 2023				6	714
DEPRECIATION
At 1 February 2022				2,293,618
Charge for year
At 31January 2023
NET BOOK VALUE
At 31January 2023
At 31January 2022				4	983

Charity
	Freehold	Freehold		~qutprmnt	Motor
	Properly	Slrgdlngs		snd Fixtures	Vehicles
COST OR VALUATION
At I February 2022 AddlUons At 31January 2023	3,485,943 ~3485943	2,082,742 ~324 054 ~2406 796		501,487 ~9621 ~51I 108	12,949 13,500
DEPRECIATION
At I February 2022 Charge for year At 31January 2023		1,652,004 ~34718 ~1886722		419,038 34 388 ~453426	7,874
NET BOOK VALUE
At 31January 2023	3 8593
At 31January 2022		4	738	~82 449
					Total
					8
COST OR VALUATION
At I February 2022					6,083,121
AddiUons
At31 January 2023
DEPRECIATION
At I February 2022					2,078,916
Charge for year
At 31 Jsnusry2023
NET BOOK VALUE
At 31 January 2023
At 31 January 2022					004 205

Group
		Freehold	Freehold	Equipment
		Pro pe ay	auadlngs	And Fixtures
		E	E,	E
Revsluagon	reserve	2,634,378
Cost		851 566	~2405 798
Deemed cost		~3485943	~2405 796
			Motor
			Vehicles	Total
			E	E
Revaluation reserve Cost Deemed cost			~26 449 ~26 449	2,634,378
Charity
		Freehold	Freehold	Ecwlprllsnt
		~fcpsrtir	auadlngs	And Fixtures
		E	E	E
Revaluagon Cost	reserve	2,634,378 ~851565	2406796
Deemed cost		~3479758	~2406 796
			Motor
			Vehicles	Total
				E.
Revsluagon reseNe ~Cos Deemed cost			~26449 ~26 449	2,634,378

TANGIBLE FIXEDAS	SETS —CONTINUED
If Ihe freehold property	had nol been revalued	it would	have	been	Included et Ihe	fogowfng	historical cost	end	value:
				2023					2022
		Group			Charity		Group			Charity
			8			8		8		8
Freehold Property Historical cost Aggregate deprscisUon	851,565 ~892 ~63				851,565 ~8		845,380 ~39			845,380 631
INVESTMENT PROPERTY
Group and Charity										Total
										8
FAIR VALUE
At I February 2022
At 31 Jenuery 2023
NET BOOK VALUE
At 31January 2023
At 31January 2022
Fair value et 31st January 2023 is represented		by.
Valuation ln 2019										385,000
Veluagon In 2021										115,000
Valuation in 2022										35,000
Cost

FIXEDASSET INVESTM	ENT	S
Charity																	Shares in group undertakings
																			6
At I February 2022
end 31 January 2023
NET BOOK VALUE:
Al 31 Jenuery 2023
At 31 January 2022
The group end the company's '			Investments			at the		statement		of financial	poslgon		date in		the share		capital ofcompanies		include ihe
following .
Subsidiary: Trebah Enterprises				Limited
Company number: 02764907
Nature of business: Trading			subsidiary			in the		UK
Class ofshares: Ordinary shares
% holding: 100%
Address: Trebah, Mawnan		Smith, Falmouth,					Cornwell, TR115JZ										2023		2022
Aggregate capital end reserves																	(45,373)		(31,488)
Profit / (Loss) for the year
Commercial Trading Activities				ofSubsidiary
The Charity hss e wholly	owned			trading		subsidiary,			Trebeh Enterprises			Limited,		which		Is incorporated in the UK.			The principal
activities ere operating	Ihe	gift		shop,	cafeterfe			end	plant sales et		Trebah		Garden,		Mewnen		Smith, Felmoulh,	TR11 5JZ. A
summary of Its results ere shown				below.		Audited		accounts		have been	filed with		the	Registrar of			Companies.
Summary Profit and Loss Account																	2023		2022
																	8
Turnover																	936,929		893,440
Cost ofsales																	(336,157)		(320,198)
Administrative expenses																	(628,223)		(608,219)
Other operating income																	10,011		120,597
Tax on profit																	3,555		4,003
ProRt / (Loss) for the financial			year														13,885		89,625
The assets snd ilebgities	of Ihs subsidiary					at 31	January were:
Tangible assets																	46,358		65,624
Current assets																	226,865		491,306
Creditors: Amounts felling due			within one			year											(310,286)		(576,532)
Provisions for liabilities																	(8,330)		(11,886)
Total net lleblli8es																	(46,373)		(31,488
Share capital																	2		2
Aggregate reserves																	(45,375)		(31,490)
																	(45,373)		(31,488

15	STOCKS
				Group			Charity
			2023		2022	2023		2022
			6		9	8		9
	Catering stock		7,543		8,247
	Gift shop stock Plants end garden shop stock		67,793 ~35178		54,648 36 163
			110 4		990 8
	None of Ihe above stock hss been pledged ss security against any				lieblgtles.
16	DEBTORS:AMOUNTS	FALLING DUE	WITHIN ONE YEAR
				Group			Charity
			2023		2022	2023		2022
			9		6	6
	Trade debtors		5,331		9,449	5,000		7,894
	Amounts owed by group undertakings					248,683		520,870
	Other debtors Prepsyments end accrued income		25,191 ~29 8		14,460 ~568	25,176 ~25 681		14,480
17	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE			YEAR
				Group			Charity
			2023f		2022 f	2023 8		2022
	Bank loans snd overdrafts				13,768			13,768
	Trade creditors		64,304		76,885	34,669		48,195
	Social security end other taxes Accruels end deferred Income		31,851		30,728 ~5566 ~92	13,492 21 615 69 6		15,086
18	PROVISIONS FOR LIABILITIES
				Group			Charity
			2023 9		2022 9	2023f		2022 6
	Deferred lax		8,330		11,885
	Deferred tax					Gr'oup		Charity
						8		6
	Balance st I February 2022 Reversal of gmlng differences Balance at 31January 2023					11,885 ~3555 ~8330

	Total future minimum	Total future minimum	lease	payments	payments	under non-cancsgeble	under non-cancsgeble	under non-cancsgeble	operating	operating
											Group and Charity
											2023		2022
											6		6
	Due within one	year									6,683	9,445
	Due one to gve	years
	Lease peymenls	recognised			as an expanse during the			year	amount	to 69,510
20	BANK LOANS	AND	OVERDRAFTS
	An analysis ofths maturity			of	bank loans and overdrafls			ls gwan below:
											Group and Charity
											2023		2022
											6		6
	Amounts faglng	due	wghln	one year:
	Bankloans											13,766
	Amounts fsglng	due	between		one and	two	years:
	Banklosns
	Amounts falling	due	between		two snd	five	years:
	Bankloens
												137
21	SECURED DEBTS
	The fogowlng secured debts				sre Included within creditors:
											Group and Charity
											2023		2022
											E		F.
	Bank loans and	overdrefls
	The bank loan	end overdraft			of Ihe Charity		are secured	by way ofe		legal charge over the properties	known as Trebah Garden		and
	Trebeh Lodge.

Group
				Unrestricted	Restricted
				Reserves	Reserves	Total
					8
Al 1 February 2022 Retained surplus / (deficit)			for ihe year	5,221,824 ~15710	375,122 ~IB533	5,596,948
At 31January		2023			358 689
Included	within	Ihe above reserve.		Unrestricted	Restricted
				Revaluation	Revaluation
				Reserves	Reserves	Tote I
				8	8	6
At 1 February		2022 end 31 January 2023
Charity
				Unrestricted	Restricted
				Reserves	Reserves	Total
				6	f	8
At 1 February 2022 Retained surplus /(degcit) At 31 January 2023			for the year	5,253,316 ~1824 5 514	375,122 ~18533 ~55	5,628,438
Included	within	Ihe above reserves:
				Unrestricted	Restricted
				Revaluation	Revaluation
				Reserves	Reserves	Total
				8	8	F.
At I February		2022 snd 31 January 2023		2,630,993	3,385

ANALYSIS OF GROUP NET ASSE	ANALYSIS OF GROUP NET ASSE	TSBETWEEN RE	STRICTED FUN	DS
Group and Charily
		Beach Access Project	Water Course	Garden Improve- ments	Sculpture Pro/ect	Visitor Centre
		f		f		f
Balance st 1	February 2022	25,530	39,100	92,295		157,167
Income				1,088
Expenditure
Balance st 31January 2023
Represenled	by;
Fixed Assets		25,530	39,100	92,295	994	138,634
Bank
Other debtors
Deferred Income
		Walled Garden	Amphi- theatre	Major Hibbert Memorial	Theatre & Educational projects	Total Restricted Funds
		f		f
Balance at 1	February 2022	10,813	24,338	885	24,000	375,122
Income					33,000	34,088
Expenditure
Balance et 31 January 2023
Represented	by:
Fixed Assets		10,813	24,338			331,704
Bank				885	24,000	24,885
Deferred income
			Restricted	Unrestricted	Total
Group			fundsf	funds f	funds
Balance st 1	February 2022		375,122	5,221,824	5,596,948
Income			34,088	1,822,136	1,866,224
Expenditure
Balance st 31 January 2023
			Restricted	Unrestricted	Total
Charity			funds 6	fundsf	fundsf
Balance el 1	February 2022		375,122	5,253,318	5,828,438
Income			34,088	1,003,784	1,037,872
Expenditure
Balance et 31 January 2023					~IIIIPu

Group
The carrying amount of Ihe group's			flnandal			instruments ere as fogows:
										2023	2022
										8	8
Financial assets that are debt		instruments		measured			et amorgsed		cosh
-Trade debtors (note 16)										5,331	9,449
-Other debtors (note 16)										25,191	14,460
										30,522	23,909
Finsnmal 8abilitles measured		et emoNsed			cost:
- Bank loans and overdrafts	due within one				year (note		21)				13,768
-Trade creditors (note 17)										64,304	76,885
											90,653
Charity
The carrying amount of the	Chadly's		financial			instruments		ere ss	follows:
										2023	2022
										8	8
Financial assels that are debt		instruments			measured		at amorlised		cast
-Trade debtors (note 16)										5,000	7,894
- Other debtors (note 16)										25,176	14,460
- Amounts owed by group undertakings				(note 16)						248,683	520,870
										278,859	643,224
Finandal llabili6es measured		at smoriised			cosL'
- Bank loans and overdrafls	due within one year (note 21)										13,768
-Trade creditors (note 17)										34,669	48,195
										34,669	61,963
RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET									CASH FLOW FROM OPERATING ACTIVITIES
										2023	2022
Net income/(expenditure)	for the		reporting			period	(as per the		statement	of
financial activities)										(37,798)	352,446
Dspredagon snd amoNsatlon		expense								97,078	107,835
Interest expense										206	734
Income from Inveslmenl properly										(18,000)	(16,600)
Loss/(profit) on sale of fixed	assets									(80)	(2,195)
(Increase)/decrease in stocks										(11,467)	(31,280)
(Increase)/decrease in debtors										(9,853)	15,700
Increase/(decrease) in creditors
Net cash provided by (used		In) operating				activities
ANALYSIS OF CASH AND	CASH		EQUIVALENTS							2023	2022
										5	8
Cash In hand										190	1,053
Cash albank
Total cash and cash equivalents											930, 2

ANALYSIS O	F CHANGES	IN	NE	T DE	BT
								At 1
							February 2022		Caslr	'gows	Non-cash changes		At 31 January 2023
Cash and cash equivalents													9
Cash								930,727	(368,164)				572,563
								930,727	(358,164)				572,563
Borrowings
Loans fsUing	due within one year							(13,768)		13,974	(206)
								(13,768)		13,974	(206)
TOTAL
RELATED PARTY DISCLOSURES
Control
The Council	of Management,		detsged		on	page 2, share ultimate control.
Transactions	and Balances
The foUowlng	transactions	occurred between					Trebsh Garden	Trust and	Trebeh	Enterprises	Limited, a	wholly	ovmed subsidiary:
											2023		2022
												6	5
Management	charge from Trebeh			Garden		Trust to Trebah Enterprises			Limiled		110,924		108,750
Rent charged	by Trebah Garden			Trust	to	Trebsh Enterprises		Limited			17,664		17,664

					Unrestricted	Restricted
					Funds	Funds	Total Funds	Total Funds
				Notes	2022	2022	2022	2021
					f	6	f	6
Incoming Resources
Incoming resources from charitable			acgvities
Garden entrance fees					358,023		358,023	374,256
Membership subscrlpgons					73,278		73,278	90,509
Incoming resources from generegng			funds
Voluntary Income				6	446,774	1,900	448,674	286,197
Grants								24,000
Activites for generaBng		funds
Rent receivable	and facility hire				16,800		16,800	16,800
Commercial trading			opersgons		893,440		893,440	511,899
Event income					50,865		50,865	406
Solar panel income					11,076		11,076	13,132
Government grants					60,141		60,141	264,283
Sundry receipts					169,648		169,648	2,111
TOTAL INCOMING RESOURCES					2,080,045	1,900	2,081,945	1,583,593
Resources Expended
Costs ofgenerating funds
Fundreising end publicity					42,504		42,504	40,699
Commercial Irading operations					892,631		892,831	851,781
Event costs					54,842		54,842	3,372
Finandng costs					26,998		26,998	17,543
					1,018,975		1,016,975	913,395
Net Incoming resources avegable	for charitable
application					1,063,070	1,900	1,064,970	670,198
Charitable acgvlges expenditure
Cost ofoperegon of the		garden		10	666,542	21,972	690,514	599,593
Cost ofoperating memberships Governance costs Total Charitable Expenditure				10 10	10,007 12,003 arse	~	10,007 12,003 russ	11,969 16,916
TOTAL RESOURCES EXPENDED
Net income I (expenditure) before		lsx for Ihe			372,518	(20,072)	352,446	42,720
Tax movement
Net income I(expenditure) after tex
Other recognised gains
Gain on reveluagon					36,000		35,000	115,000
Net movemenlin funds					411,521	~20,072	391,449	160,111
Balance brought forward at I February 2021					4,810,303	~395194	5,205,497	5,214,902
Balance carried fonvard st 31 January 2022				24	6,221 824	375,122	5,596946	5,375013