2022-03-31-accounts - The National Botanic Garden Of Wales

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Report ofthe Trustees incorporating	the Strategic Report	1-13
Report ofthe Independent Auditors		14-17
Statement ofFinancial Activities		18
Balance Sheet		19-20
Statement ofCash Flows		21
Notes to Financial Statements		22-45

The group's financial position at the end ofthe	The group's financial position at the end ofthe	year ended 31March 2022:	year ended 31March 2022:
The financial position ofthe group at 31 March		2022 and comparatives for the		prior period, as more
fully detailed in the accounts, can be	summarised	as	follows:-
			2022	2021
Net income			877,540	623,037
Unrestricted revenue funds available	for the general		purposes
ofthe group			748,011	(689,581)
Unrestricted fixed assets			5,049,717	4,514,214
Total unrestricted funds			5,797,728	3,824,623
Designated revenue funds			275,000
Total designated funds			275,000
Restricted revenue funds			324,535	738,300
Restricted fixed asset funds			20,790,032	21,746,832
Total restricted funds			21,114,567	22,485,132
Totalfunds			27,187,295	26,309,755

approval ofthe r	eport and during the accounting period were as follows:	eport and during the accounting period were as follows:
Executive Senior H Francis	Management Team: Chief Executive Officer (Director), left 8'" March 2022
Dr N De Vere	Head of	Science, Conservation and Research, left 31August 2021
W Ritchie	Curator,	left 28'" December 2021
A Summers SC Evans	Curator, Interim	appointed 1November 2021 Director (from 8'" March 2022) &Head of Finance
D Cattell	Head of	Facilities, left 28 December 2021
D Hardy	Head of	Marketing and Communications
M Ward	Head of	Trading and Admissions, left 28 December 2021
C Williams	Head of	Hospitality

						Total	Total
			Note	Unrestricted	Restricted	funds	funds
				funds	funds	2022	2021
				E	E		f
Income and endowments		from:
Donations and legacies				748,755	24,220	772,975	1,029,547
Charitable activities				1,652,675	2,558,196	4,210,871	3,536,183
Investment income				2,737		2,737	3,135
Other trading activities				1,150,933	4,380	1,155,313	407,244
Total income and endowments				3,555,100	2,586,796	6,141,896	4,976,109
Expenditure on:
Raising funds				1,075,336		1,075,336	317,207
Charitable activities				2,151,300	2,037,720	4,189,020	4,035,865
Totol expenditure				3,226,636	2,037,720	5,264,356	4,353,072
Netincomef(expenditurel				328,464	549,076	877,540	623,037
Transfers between	funds		19,21	1,919,641	(1,919,641)
Net movementin funds				2,248,105	(1,370,565)	877,540	623,037
Reconciliation ofFunds
Total funds brought	forward		19,21	3,824,623	22,485,132	26,309,755	25,686,718
Total funds carried	forward		21,22	6,072,728	21,114,567	27,187,295	26,309,755

				2022		2021
			Note	f
Fixed assets:
Tangible assets			12		25,839,749		26,261,036
Current assets:
Stocks			14	124,597		100,507
Debtors			15	441,137		721,418
Cash at bank	and in	hand		1,887,707		1,424,911
				2,453,441		2,246,834
Liabilities:
Creditors: Amounts		falling due within
one year			16	(1,020,210)		(749,432)
Net current assets					1,433,231		1,497,404
Net assets					27,272p980		27,758,440
Creditors: Amounts		falling due after
one year			17		(85,685)		(1,448,685)
Total net assets					27,187,295		26,309,755
The funds of	the charity:
Restricted income funds			19		21,114,567		22,485,132
Unrestricted	funds
General funds			21	5,797,728		3,824,623
Designated	funds		20	275,000
					6,072,728		3,824,623
Total charity	funds		22		27,187,295		26,309,755

			2022		2021
		Note	E
Fixed assets:
Tangible assets		12		25,832,166		26,252,269
Investments		13		1		1
				25,832,167		26,252,270
Current assets:
Stocks		14	16,262		21,479
Debtors		15	493,109		788,502
Cash at bank and in	hand		1,885,276		1,422,006
			2,394,647		2,231,987
Liabilities:
Creditors: Amounts	falling due within
one year		16	(960,801)		(734,630)
Net current assets				1,433,846		1,497,357
Total assets less current llobllltles				27,266,013		27,749,627
Creditors: Amounts	falling due after one
year		17		(85,685)		(1,448,685)
Total net assets				27,180,328		26,300,942
The funds ofthe charity:
Restricted income funds		19		21,114,567		22,485,132
Unrestricted funds
General funds		21	5,790,761		3,815,810
Designated funds		20	275,000
				6,065,671		3,815,810
Total charity funds		22		27,180,328		26,300,942

				Note	2022	2021
					E	E
Net cash provided by operating activities				25s	2,412,319	1,794,812
Cash flows from investing octivitiesi
Dividends, interest and rents from investments				5	2,737	3,135
Purchase ofproperty plant and equipment				12	(582,299)	(1,128,7721
Proceeds from disposal offixed assets					5,500
Net cash used in investing activities					(574,062)	(1,125,637)
Cash flows from financing activities:
New finance				25		3,000
Repayments ofborrowing				25	(1p375~460)	(6230)
Net cash (used in)/ from financing activities					(1,375,460)	(3,230)
Change in cash and cash equivalents	in the reporting	period			462,797	665,945
Cash and cash equivalents at the beginning ofthe reporting			period		1,424,911	758,966
Cash and cash equivalents atthe end	ofthe reporting	period		25	1,887,708	1,424,911

Freehold	premises		%straight	line
Leasehold	premises		%straight	line
Plant and	machinery	4% - 33%	%straight	line
Motor vehicles		10%- 25%	%straight	line

		Unrestricted	Restricted	Total	Total
		funds	funds	2022	2021
		E	E	E	E
Donations		109,532	24,220	133,752	130,083
Legacy		5,958		5,958	4,988
Grants		633,265		633,265	894,476
		748,755	24,220	772,975	1,029,547
rants were received	from the following	sources:
				Total	Total
				2022	2021
				E	E
Welsh Government	(Core)			594,000	834,000
Welsh Government	—Rural Development	Wales		39,265	60,476
				633,265	894,476

	INCOME FROM CHARITABLE ACTIVITIES	INCOME FROM CHARITABLE ACTIVITIES	INCOME FROM CHARITABLE ACTIVITIES	INCOME FROM CHARITABLE ACTIVITIES
					Unrestricted	Restricted	Total	Total
					funds	funds	2022	2021
	~Grou				f	f	f	f
	Admission fees				1,102,839		1,102,839	365,107
	Educational and contract income				86,187	4,769	90,956	38,683
	Grants					2,553,155	2,553,155	2,811,702
	Membership income				273,143		273,143	213,388
	Other income				22,290	272	22,562	40,582
	Plant and seed sales				168,216		168,216	66,721
					1,652,675	2,558,196	4,210,871	3,536,183
	Grants were received	from the		following	sources:
					Unrestricted	Restricted	Total	Total
					funds	funds	2022	2021
	Garou				f	f
	Apprenticeship Fund					23,000	23,000
	European Regional Development
	Fund					178,208	178,208	734,515
	RHS Flourish Fund					14,500	14,500
	Welsh Government	Landfill Tax
	Community Scheme					39,920	39,920
	HMRC Job Retention	Scheme				14,140	14,140	285,488
	The National Lottery	Heritage		Fund		138,058	138,058	978,725
	The Waterloo Foundation							111,000
	Welsh Government	Capital Funds				1,725,000	1,725,000	195,000
	Welsh Government	COVID-19						148,293
	Welsh Government	Enabling	Natural
	Resources and Wellbeing					355,181	355,181	358,681
	Welsh Government	Visit Wales—
	Brilliant Basics					65,148	65,148
						2,553,155	2,553,155	2,811,702
5.	INVESTMENT INCOME
					Unrestricted	Restricted	Total	Total
	~dd d tt				funds f	funds f	2022 f	2021 f.
	Bank interest				2.737		2,737	3,135
					2,737		2,737	3,135

			Unrestricted	Restricted	Total	Total
			funds	funds	2022	2021
				E	E	f
Corporate	and wedding	income	36,834		36,834	1,787
Event income			4,741		4,741	567
Food and drink sales			726,231		726,231	211,647
Other sales			1,392		1,392	700
Renewable	income		41,952		41,952	70,680
Rental income			42,367		42'367	6,679
Sale ofgoods			297,416	4,380	301,796	115,184
			1,150,933	4,380	1,155,313	407,244

			Total	Total
			2022	2021
			E	E
Middleton	Garden	Limited	1,265,830	445,391
Horticulture			43,928	29,581
Education			63,022	10,082
Admission	and membership		1,468,903	650,578
Operations	and central		704,134	1,207,991
Fundraising	and events		4,543	767
Science			4,741	2,447
Restricted	funds		2,586,795	2,629,272
			6,141,896	4,976,109

	Raising				Total	Total
	funds E	Direct E	Support E	Governance f	2022 E	2021 f
Advertising and
marketing	46,849	22,194	120		69,163	49,303
Audit fees				12,028	12,028	12,500
Bad debt			1,878		1,878	(1,445)
Catering consumables	28,773				28,877	6,650
Cleaning and waste
management	1,044	34,007	3		35,054	20,620
Depreciation	3,574	966,623	19,426		989,623	979,476
Educational and research
expenditure	52	27,326			27,378	22,366
Equipment hire, repairs
and maintenance	18,178	121,556	378		140,112	78,186
Event and attraction
expenses	18,686	921	18		19,625	408
Farm expenses	12,473	999			13,472	11,787
Health and safety	5	2,908			2,913	6,532
Horticulture costs	678	83,435			84,113	150,518
Insurance		72,346			72,346	53,533
Interest, card and bank
charges	11	248	34,581		34,883	19,214
ITcosts	2,450	32,863	26,749		62,062	59,955
Lease costs		505	5,557		6,062	5,944
Legal and professional
fees	2,539	117,096	33,122		152,757	103,981
Light, heat, power	1,206	215,535	49		216,790	176,691
Loss on sale ofasset		8,463			8,463
Other costs		8,154	1,418		9,629	3,465
Other staff and volunteer
costs	4,979	60,728	55,239		120,946	68,036
Printing, postage,
stationery	5,420	28,659	777		34,856	33,372
Premises repairs and
maintenance	31.111	201,290			232,401	236,089
Purchases	410,343	92,359			502,702	147,635
Rent, rates and water		16,246	25		16,271	10,162
Subscriptions and licenses	9,364	11,420	2,109		22,893	16,378
Telephone and mobiles	127	17,533	701		18,361	16,605
Translation and
interpretation	150	36,659			36,809	15,492
Travel and subsistence	561	17,206	146		17,913	6,417
Wages and salaries	476,663	1,494,563	302,750		2,273,976	2,043,201
	1,075,336	3,691,946	485,046	12,028	5,264,356	4,353,072

			2022f	2021 E
Middleton	Garden Limited		1,184,602	426,545
Horticulture			459,159	321,726
Education			74,795	56,332
Admission	and membership		146,640	63,678
Operations		and central	1,088,770	617,003
Fundraising		and events	145,133	74,272
Science			94,864	86,529
Interpretation			32,673	30,054
Restricted	funds		2,037,720	2,676,933
			5,264,356	4,353,072
ET INCOME		FOR THE YEAR
et income	forthe period was stated after charging:
			2022	2021
~Grou			f
Auditors remuneration:
Audit fees			11,028	11,500
Accountancy		services	1,000	1,000
Depreciation			989,624	979,476
Operating	leases		10,505	11,175

			Total	Total
			2022	2021
			E	E
Wages and salaries			2,015,002	1,781,194
Freelance and contracted	labour		60,460	80,394
Social security costs			128,359	119,335
Pension costs (defined contribution		scheme)	70,156	62,278
			2,273,977	2,043,201

2022	2021
No.	No.
113	102
113	102

			2022	2021
			No.	No.
Charitable	activities		78	73
Fundraising		activities	1
Management		and administration	12	13
			91	86

ANGIBLE FIXEDASSETS
			Fixtures,
			fittings,
	Land and	Plant and	vehicles and
~Grou	buildings	machinery	plants	Total
		E	E
Cost
At 1April 2021	29,849,567	9,347,350	2,446,964	41,643,881
Additions	229,993	255,959	96,348	582,300
Disposals	(1,445)	(28,810)	(202,486)	(232,741)
At 31March 2022	30,078,115	9,574,499	2,340,826	41,993,440
Depreciation
At 1April 2021	9,767,755	4,533,677	1,081,413	15,382,845
Charge forthe year	495,326	410,597	83,701	989,624
Disposals	(405)	(27,778)	(190,595)	(218,778)
At 31March 2022	10,262,676	4,916,496	974,519	16,153,691
Net book value
At 31March 2022	19,815,439	4,658,003	1,366,307	25,839,749
At 31March 2021	20,081,812	4,813,673	1,365,551	26,261,036
~Charit
Cost
At 1April 2021	29,849,567	9,336,249	2,443,452	41,629,268
Additions	229,993	254,712	96,348	581,053
Disposals	(1,445)	(28,810)	(202,486)	(232,741)
At 31March 2022	30,078,115	9,562,151	2,337,314	41,977,580
Depreciation
At 1April 2021	9,767,755	4,528,244	1,081,000	15,376,999
Charge for the year	495,326	408,165	83,702	987,193
Disposals	(405)	(27,778)	(190,595)	(218,778)
At 31March 2022	10,262,676	4,908,631	974,107	16,145,414
Net book value
At 31March 2022	19,815,439	4,653,520	1,363,207	25,832,166
At 31March 2021	20,081,812	4,808,005	1,362,452	26,252,269

			2022	2021
				E
Profit and Loss Account
Turnover			1,267,665	445,391
Expenditure			(1,184,589)	(426,545)
Operating profit			83,076	18,846
Statement ofChanges	in Equity
Balance brought forward			8,769	8,179
Profit and total comprehensive		income
forthe period			83,076	18,846
Distributions to parent	charity under gift
aid			(84,879)	(18,256)
Balance carried forward			6,966	8,769
Capital and Reserves:
Reserves			6,965	8,768
Share capital			1	1
			6,966	8,769

14.	STOCK
			Total	Total
			2022	2021
	~6rou		6	f
	Stock		124,597	100,507
			124,597	100,507
	Chailthi,
	Stock		16,262	21,479
			16,262	21,479
15.	DEBTORS
			Total	Total
	~6rou		2022	2021f
	Trade debtors		22,266	9,183
	Prepayments		107,823	57,554
	Other debtors		311,048	654,681
			441,137	721,418
	Chaiity
	Trade debtors		22,266	9,183
	Prepayments		107,823	57,554
	Other debtors		311,048	654,681
	Amounts	owed by group undertakings	51,972	67,084
			493,109	788,502

					Total	Total
					2022	2021
~Grou					E	f
Bank loans and overdrafts					13,000	25,460
Trade creditors					452,270	332273
Deferred income					40,040	466
Accruals					502,511	389,703
Other creditors					12,389	1,530
					1,020,210	749,432
~Charit
Bank loans and overdrafts					13,000	25,460
Trade creditors					392,861	317,995
Deferred income					40,040	466
Accruals					502,511	389,179
Other creditors					12,389	1,530
					960,801	734,630
Deferred Income	relates to:
Deferred income	relates to wedding,	education,		rental income and grants received in advance
relating tothe 2022/23 financial year.
Movement in deferred income
					2022	2021
~Grou					E	f
Balance at the start ofthe reporting		period			466	139,221
Amounts added	in current period				81,941
Amounts released to income from		previous	periods		(42,367)	(138,755)
Balance at the end ofthe reporting		period			40,040	466
~Charit
Balance at the start ofthe reporting		period			466	136,745
Amounts added	in current period				81,941
Amounts released to income from		previous	periods		(42,367)	(137,211)
Balance at the end ofthe reporting		period			40,040	466

										Total	Total
										2022	2021
&~&C&										6	f
Loans										85,685	1,448,685
										85,685	1,448,685
The balance can be broken down as follows:
Less than one year										13,000	25,460
Between 2and 5years										85,685	1,448,685
										98,685	1,474,145
Loans included in	the above		include f80,000due to Welsh Government					which		is due to be repaid in
2027 and has no	interest	attached to it and f18,685(2021:f31,145)due							to The Esmee Fairburn
Foundation which	is due	to be repaid in 2023		and carries a 6%interest				charge.
ASSETSOFTHE CHARITY CHARGED TO MEET				ITS LIABILITIES
A legalrnortgage	is in place on the company's			freehold		land and leasehold			buildings in favour ofThe
National Lottery Communities			Fund to secure	all monies and liabilities				advanced by the			Fund to the
company. This mortgage		restricts the use of the assets to that of					a	botanical garden.			The Welsh
Government and	Lombard		Property Facilities		Limited	also have	legal		charges over		part of the
leasehold and freehold		land	ofthe company.		NatWest	Bank has a	registered			debenture,	but there
are currently no borrowings			outstanding.
										Total	Total
										2022	2021
										E	f
Amount secured	is estimated to be:								19,815,439		21,915,389

			Balance at				Balance at
			1April				31March
G~dh tt			2020 f	Income f	Expenditure f	Transfers f	2021 f
Fixed Asset Fund			21,640,510	195,000	(939,741)	851,063	21,746,832
Growing the Future			463,007	545,715	(533,956)	(13,485)	461,281
Regency Restoration			158,900	741,025	(247,102)	(709,604)	(56,781)
Apprenticeship Scheme			131,522	38,260	(62,475)		107,307
The Waterloo Foundation		/
Borneo			2,265		(25)		2,240
Welsh Government-	Sundry		2,750				2,750
Caru Natur Cymru'/Biophilic
Wales Project				358,681	(313,781)		44,900
Postcode Lottery			18,470		(669)		17,801
Sustainable management
scheme			104,398	206,403	(123,082)	(28,917)	158,802
Coronavirus Job Retention
Scheme				285,488	(285,488)
I MS				11,000	(15,025)	4,025
Heritage Lottery Emergency
Fund				247,700	(155,589)	(92,111)
			22,521,822	2,629,272	(2,676,933)	10,971	22,485,132
20. DESIGNATED	FUNDS
			Balance at				Balance at
			1April				31March
~dd dh			2021 f	Income f	Expenditure f	Transfers f	2022 f
General fund						125,000	125,000
Property asset
development fund						54,835	54,835
Project development	fund					95,165	95,165
						275,000	275,000

			Balance at				Balance at
			1April				31March
~Grou			2021 E	Incomef	Expenditure	Transfers E	2022 f
General unrestricted		funds	3,824,623	3,555,100	(3,226,636)	1,644,641	5,797,728
Designated	funds					275,000	275,000
			3,824,623	3,555,100	(3,226,636)	1,919,641	6,072,728
Charity
General unrestricted		funds	3,815,810	2,374,147	(2,043,837)	1,644,641	5,790,761
Designated	funds					275,000	275,000
			3,815,810	2,374,147	(2,043,837)	1,919,641	6,065,761
			Balance at				Balance at
			1April				31March
			2020	Income	Expenditure	Transfers	2021
~Grou			E	f	E	E	F.
General unrestricted		funds	3,164,896	2,346,837	(1,676,139)	(10,971)	3,824,623
			3,164,896	2,346,837	(1,676,139)	(10,971)	3,824,623
~Chari
General unrestricted		funds	3,156,718	1,918,577	(1,248,514)	(10,971)	3,815,810
			3,156,718	1,918,577	(1,248,514)	(10,971)	3,815,810

ANALYSIS OF NET ASSETSBETWEEN FUNDS	ANALYSIS OF NET ASSETSBETWEEN FUNDS
	Unrestricted	Designated	Restricted	Total
~Grou	funds E	funds	funds	2022f
Fixed assets	5,049,717		20,790,032	25,839,749
Net current assets	833,696	275,000	324,535	1,433,231
Long term liabilities	(85,685)			(85,685)
	5,797,728	275,000	21,114,567	27,187,295
Charithl
Fixed assets	5,042,134		20,790,032	25,832,166
Investments	1			1
Net current assets	834,311	275,000	324,535	1,433,846
Long term liabilities	(85,685)			(85,685)
	5,790,761	27S,OOO	21,114,567	27,180,328
~previo iver
		Unrestricted	Restricted	Total
		funds	funds	2021
~Grou		E	E	f
Fixed assets		4,514,204	21,746,832	26,261,036
Net current assets		759,104	738,300	1,497,404
Long term liabilities		(1,448,685)		(1,448,685)
		3,824,623	22,485,132	26,309,755
~CharH
Fixed assets		4,505,437	21,746,832	26,252,269
Investments		1		1
Net current assets		759,057	738,300	1,497,357
Long term liabilities		(1,448,685)		(1,448,685)
		3,815,810	22,485,132	26,300,942

The following	The following	operating	operating		leases	were in place as at31March 2022:	were in place as at31March 2022:	were in place as at31March 2022:	were in place as at31March 2022:	were in place as at31March 2022:
											Total	Total
~Grou											2022	2021
											E	E
Within one	year										10,505	11,175
Within two	to five years										11,284	16,&35
											21,789	28,010
Chaiitll
Within one	year											5,474
Within two	to five years											669
												6,143
RECONCILIATION			OF NET MOVEMENT IN					FUNDS TO NET CASH FLOW			FROM OPERATING
ACTIVITIES
~Grou											2022	2021
											E	E
Net income		forthe reporting				period					877,540	623,037
Adjustments		for:
Depreciation		charges									989,624	979,477
Loss/(gain)	on disposal										8,463	3,550
(Increase) /		decrease		in	stocks						(24,090)	7,846
(Increase) /		decrease		in	debtors						280,281	303,283
Decrease in		creditors									283,238	(119,246)
Dividends,	interest and				rents from investments						(2,737)	(3,135)
Net cash provided by				operating			activities				2,412,319	1,794,812
Anal sisof	Ca h		and Cash E uivalents
Cash in hand											1,887,707	1,424,911
Total Cash	and Cash Equivalents										1,887,707	1,424,911
Anal sis ofcha			es in	net funds
									At 1	New	Cash	As at 31
								April	2021	finance	flows	March 2022
									E	E	E	E
Cash								1,424,911			462,796	1,8&7,707
Loans falling		due	within		one year			(25,460)			12,460	(13,000)
Loans falling		due	after	more than
one year								(1,448,685)			1,363,000	(85,685)
								(49,234)			1,838,256	1,789,022

				Total
		Unrestricted	Restricted	funds
		funds	funds	2021
		f	f	E
Income and endowments	from:
Donations and legacies		981,287	48,260	1,029,547
Charitable activities		964,203	2,571,980	3,536,183
Investment income		3,135		3,135
Other trading activities		398,212	9,032	407,244
Total income and endowments		2,346,837	2,629,272	4,976,109
Expenditure on:
Raising funds		317,207		317,207
Charitable activities		1,358,932	2,676,933	4,D35,865
Total expenditure		1,676,139	2,676,933	4,353,072
Net income/(expenditure)		670,698	(47,661)	623,037
Transfers between funds		(10,971)	10,971
Net movementin funds		659,727	36,690	623,037
Reconciliation ofFunds
Total funds brought forward		3,164,896	22,521,822	25,686,718
Totalfunds carried forward		3,824,623	22,485,132	26,309,755