2024-03-31-accounts

REGISTERED COMPANY NUMBER: 2909098 (England and Wale8 REGISTERED CHARITY NUM8ER: 1036354 Report d tho Trusteos and Group Report of th• Tru8tees and Consolldated Flnancl•l Statèments for th• Y•ar Ended JI Mareh 2024 The Natlonal Botanlc Gard•n of W•1 'ADH5RZP4N* 1211212024 COMPANIES HOUSE A21

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The Natlonal Botanlc Garden of Wales Contents of the Consolldaled Flnanclal Statements for the Year Ended 31 March 2024 Page Report ofthe Trustees 1to11 Report of the Independent Auditors 12to14 Consolidated Statement of Financial Acts'vtties 15 Consolidated Balance Sheet 16 Congdidated Cash Flow Statement 17 Notes to the Consolidaléd Flnancial SL2tements 18to35

The Nallonal Botanlc Garden of Walos Report of the Trustees for the Year Ended 31 March 2024 Tnjslees who are also dirnctor¥ of the charity for the purpogQ5 of the Companies Acl12CVJ6), Pf•senl Ihelr report with the financial statements ol the charity lor the year ended 31 March 2024. The Trustees have adopted the provisions of Accounting and Reporting by Charities.. Stslemenl of Recommended Piactice applicable lo ¢harrtie$ PTeparing Iheir aCt￿vnI$ in a¢cordan¢e wrth the Flnanclal Reporting Stsndèrd Applicable in the UK and Republic of Ireland (FRS 1021 (effedive 1 January 2019>. . The TNslees are pleased lo pr6senl thelr annual dirnctors. rnport, bthich In0)￿OrateS the Slralegi¢ Trport logelherwith th¢ consolidated financial slalemenls of charity and its substiliary for Ihe year endi￿ 31 March 2024. These are pTep8red to meet Ihg requirements for a directors, report And account$ for Comp4nies Act (2006} pury>oses. The accounts have been prepared in accordance with the accounting policieg sel oul in nole 110 the accounts and (xlmpty with Ihe chaTtys Memorandum and Artidas of Association, the Companies Acl120061 and'Accounlin9 and Reportin9 by Chafilie$'. Slalemenl of Recommended Pr#clKe applicab￿ lo chartti85 preparing Ihelr accounts in accordance wllh the Fln•nci•l R¢portirvJ sland9￿ Ippli￿ble In th• UK •nd Republlc ol lrnland {FRS 1021" leffecli¥e 1 Janu8ry 2019). Unless slated Othe￿Ise, an Matte￿ reported upon relate lo th¢ group and all Tele￿¢¢$ lo TNs1••5' In Ihls r¢port •rn to the Trustees ollhe parent chaiity. The purpose$ of Ihe chgrity, as sel out in Its govomlng do¢um•nl. are lo promole for the public b•nefft.' 1. The idvancm•nl of ￿ucation In th• s¢￿￿¢0 ol plants •nd rèlatod sublocis tho conièr4811on of P￿fit speM of lh• world elp￿IlIty Ihom ol W•lo0. Grnal 8rttln •nd W••l•m EurO￿•n So•bo•rd. In p•rtlcul•r bul nol •xdu$lv•Sy by.. A. T.he e$labli$hmenl. development and malnlenance of a natk)nal botanic garfen for Wal•8 open lo the publi¢. B. Thè eslabliNhmonl of • n•llon41 con8ON•tlon 8s801 of local, nalionAI and Inlemallonal plant sp•cl•s,' C. The developmènt ol • CeTrtv• for r•s•8￿h In plant blodi￿rn￿ and th• cr•4llon of •n •xemplar of good horticultural praclic', D. The provision of lornal and informal gducalion and inte￿relatIon experiences for people of all ages and abilthes p•rticulafty lo fjnhan¢e yndernlandlng of th¢ inl¢raction of people. plants. landgcape and Ihe envlronmenl In •U8tainable future; AND 2. Th• Adv•n￿ment of p￿71¢ appr•ci•llon of Welsh ¢uttur• And hbtorle•l h811￿1• by tm r•slorallon of th• hl$tsd¢ 1•nthG￿•d •nvlronm8nl •nd bullding at the 8lle of th• nallonal bolanlc gard•n, The Garfon's vision Is= A Ihal v•lu•s blod1tr￿1ty, prot8¢18 plants •nd Its plan•L The Gardèn's mission Is de(liGaled lo tho rvsearch and consor¥allon ol btodiversty. to $u$talnabilty, lifelonyloaming and the enjoymenl ollho vlsilor. The Truste05 confirm Ihal they have hod r¢gaid lo tho Ch#nty Commission'$ guld•nce on PL**llc bonefil in man•9ing the •¢livities of the ¢haTty- Significant activhle$ Ih•t were undertaken during year demonstrate public ber￿11 and a outlined In the attached paggs. Page 1

The National Botanle Garden of Wales Report ol the Trugtees for the Year Ended 31 March 2024 STrATEGIC REPORT Achhv¢m•nt and p•rfornianc• The maln achlev•ments and pgrfomian¢e of the charlty durfng th• year. Th¢ N•lion41 Bot•ni¢ G4rd•n ofW•lès und•M•nl further m4¢r change through 202>24 und•r theltrodorshlp ol Itg Board and Director Df LLW Sulhertand. A chango managemonl process was implemented and NBGW undortook business improvements and a restwcture, with the aim of strengthening tho Charity for the fulure. s￿nifIcant cost pressures were CTOalod Ihroygh the subslgnlial Tlse in ngllonal mlnlmum w99• in 202&24 ond n{￿ fvr 2024-25. budgel pressure created Murd not be sustained urLder Ihe exisling stNcture and bu$in¢ss as u8u•I model. Tho majority of job redUct￿n$ were lost through voluntary redundan&¢s to ueaie • leaner business model for Impl6menlation in tho 202&25 financi81 year. [￿lIng the year Ihere has been signrficanl ellort focused on the delivery of major projeds.. The new £250,000 3-year National Lottery Herila9e Fund H8nts ￿$t Prn$ent ￿dFUl￿rn proj8ct has been led by Or Kevin McGinn and Or LguTa Jonos. Thè prolèct's Sclence Engagemonl Officer rol• was offered a$ a sg¢ondm8nl and hortKullLtrrisl El James has been In-post sinc8 O¢lobeT 2023. By benchmathing technical aspects wilh other inslilulions, the projed leam have estsblished a curnlion, data and d￿rt•s￿lI0n worthow that li sensitivèty conseNing Iht$¢ import•nl heritge coll￿tIonS for the future and producing a digital collection Ihat is accessible online. A now volunteer programme was dgveiop¢d ond launched In M•rch 2024 10 support the curatton and digit￿allOn work. InK PTO A new I￿year 0.6 FTE mle Qu•nlin Kay Coll8cllons and Rese8Kh A$sisl•nt w•• r•cTurfed. Ellyn Baker suc¢es8lulty comW•d lor Ihls rol• 4tKI has b•en in-P06t $ince gulumn 2023. Th18 8aty- career opportunrty has l>een mad¢ possible Ihanks to Ihe ger￿[ouS d¢n4lion from Ihe eslale of tho late Swansea- based botanist Quanlln Kay. wllo made wnportant conlribution8 to the Gardèn's developmonl, the conservatKin of the Wel8h flora, gnd lo botany mofe broadty. Th• prolect is lo¢uiJ•d on supporting $oed bAnk actrvrti68 •nd reSe4￿h arKI ¢OnieN•l￿n ol Wolsh Flora. In 2023-24 the 2023 collectKJns have been processed and bank¢d. a gemiinalion l¢slln9 programme inlli4ted. coll¢cllon records brought uPl￿d￿le and colle¢lions planned for 2024-25. The rede•vJn 01 th• Gjrdon'i wob $li•. •upport•d by T￿ W4lerko Foundallon, wal laun¢hed In the summer of 2023. ann ol Ihe re40$19n w89 lo relresh the Garden 'bfand' ar￿ cfeate websrte Ihal is attractive, infomialive, educational and inleraclive, containing ¢asy-104¢¢ess infonnalion for vl¥ll0￿. Tho ryinl¢nl li comprised of inform•lion •boul Ihè Gard•n. blogs, podcasts and downloadab educal¢onal resour￿$. The web slte now inlegrales Ihfj Gafden's booking and payment system for ¥arlou# Iransaclions induding memberships, donations. and the online shop. WAS complel•d in 202>24 artd rts impl8menlalion is ￿ndIng è suce•sslul lundral8ing campalgn In the coming yea13. G n - A new heolth Ind wtrlwing partnership was Faunched with the Hywel Dd8 UnNersity He4tth Board in OGtob&r 2023. The organi$8li¢n$ are ¢ollaboraling on t￿ GwyrddK)'r Tlr- Shades of Green Project, lundtd by & Suslalnable Communilles grant Ihrough th• UK Governm•nl and C4mi8rth¢n$hir• County Council. The projecl Is dwveloping an Inl¢gr8led mo5alc ol green ¥pace Ihal reflects the heafth and wellbeing needs of the Community associated wrth Hèalth Board eslale. These areas will be considered for their potential wlthin wkler pickage of gmn prescriblng, th•rAp•ulk hortlculturn and w•llneJs actlvlli•• The proi•cl rum unlll De￿mbar 2024. Two maln Inffaslnjclure profvcts were also c•rrled out In 202>24: A major capiial works proj¢¢l was un(lertak8n on the ￿$¢ade on Ltyn Mavrt In response lo sl9nlfic4nl loaks arlsln9 throughout the structu Slruclural repalrs lo th• floor In th• north•481 vAng ol Iho Stable Block wef¢ und•rt4ken In November 2023 und•r listed building consent. The followin9 Garden achlmments wi 202>24 allqn wlth it¥ six $lrn1•g1¢ Obje￿1¥¢3.. Be a sucussful vlsltor d8stlnatlon of International stsnding th•t ¢ontrlbutes io the economic, socl•l, envlronmental and culturnl well-bglng of Wales. Overg11, the Garden reLivod 214,583 vi$it$ in 202&24. G•t¢ ¢nlry vtsi15 were sli9hlty up on 2022-23 figu￿5 by 8.910 with 169,711 visits. In addilron lo the gale enlry visits. there We￿ 11,316 education vislls (down 2,469 from previous year), 26.183 visits lo the Lumlnale Christmas event, 420 visils lo Ihe Brilish Binls of Pr•y Cenlre for special experienus 9nd 6,953 vlslls Grealed through ￿￿or#I¢ hire #clNities. The Garfen has intfoduced 8 biennial suNey plan lo build longitudinal d•14 on its v18tt0￿ and rnornbe￿. A volunleer leam adminislored the oxrt visllor survey during one week per monlh from March lo Soplemhr 2023. A membetship suNey was emailed lo Botanic Garden membets in Odober 2023 and 838 surveys were ¢ompleted. Th8 key findlngs from these surveys are bein9 used lo Info￿ man8gemenl decislons. marketing ond communi￿tiOn appfoaches. Page 2

The Nallonal Botanlc G•rd•n ol Wal•s Report of the Tft￿tees for th• Year Ended 31 March 2024 Stralfrgk feport The publtc pfoyramme includes a collection of events and aclTriilies that engage VLsilors ar￿ align to the (ts￿ wo of the Garden in science, conser¥81ion, horti¢uhuT¢ and lrfelong lemin9. Wisitor expori•nrAs in¢rt4sed •nd divor$ified in 202>2024 9$ part of an ongoing bu$ine$s d8v¢lopmenl plan. The number of ¢vonts incrnased lo fourteen. from Ihe Six events d￿1Vered In the previous year. There wern 312 drfferenl engagement acliville8 d&lfvered aGrts$$ the Garden, ètlracting al least 5530 participants. The aclfvlli•s Includ• r•gul8r Idlvltles such as Welty Wednésday. Nord￿ Cymru and Cwpan•d a Sgwrs sesslons, as well as onsite talks, tours. hol¢day •clivilies, music and Ihe8tre. In 4ddillon, the Science Team delivered 36 engagement a¢tlvils to 1018 pgople as part of its SCAenee and con$eNation projects. B• an Int•rnatk•n•lly r•nO74¥7)￿ centr• for blodl¥•rnlty COMer4•llon and rn8••r¢h. As an l¢onl¢ Wehh Instltullon, ¢ontr4bul• to promoung tho 8tstu• •nd rncoonltlon of Wal•s •t •n Internatlon•l levol. In 202&24. now rnsearch ¢ollaborollon$ worn •slabli8h•d. An Inlernatlonal re￿arch coNaborallon has commenced and 1$ locused on planlollinalor Inltrnclions wllhln Greenland. Seven instilules are collaborating lo investig¥le how climate changg wiu impacl planl polinalor a8semblage$ In • marginal landocape, infomlng woth in Iho •xtrome$ of Wol$h h4brt41s hoslirya arclic alpine3. Dr Laura Jones lolned the flrsl fièldwork gt•son lo Greenland. And supports the project with bioinlomiallc expertlse. Thg Arts and HumJnitlO5 Research Counul Collaborative Doctoral Partnernhlp IAHRC CDP) res8Ofch consortium was establ￿h8o vAlh Amgu&ddfa Cymw and lh8 Nalional Libr•ry olwates in 2023-24, providing a 8ouTc of fvndlng to support AHRC PhD proj•¢l$. Alo4nl NBGW orts PhD Sludenlshlp wilh Ab•rys￿h Unlvernlty SUC￿$¥fullY re¢oived funding (litled NatuTr Rfjslorntion past ondpresanl.. ¢h•ngin9 attitudes lo the n8lurnl wortd). Th• o)n8•Thallon WO￿ of th• N#lion•l Swd 8ank, e•tAbli$h•d in 2018,1s Iocu8lng on a poputallon l•v•l approach to GgPtur• and conserve bTogd genellG dN•rslty from muttiple srtes of We￿h floro. Supported by Mlllonnlum Seed Bank's UK Thfealened FIoT8 Projotl 8nd UK Tree Seed Projtrcts fundlng, 23 hlgh quglity Seed uJllecllons were made from red-listed species across Wales. as well a8 foul collectlons from tree speaes. This included challengino specios lo collect Irom, such as the end8ng8red N•rTowwleav•d Holleborin¢ orchld Ceph81•nth•rn longrfolio, tho vul￿1￿b￿ WAler-¥it)l•l Holtoni• p•luslns. 4nd the ènd•nger•d scar¢o Sptsll•d Cat'Har Hypochoeris mJGul•lè. A 9ern)in•lion18glin9 programme was initioled 89 port of wort undertak¢n in the National Seed Bank In e•fty 2024 a orill¢al la$k in obtaining baseline dal4 on $eed viability lo monilor ¢olleclion vlabilty in d&cades lo Mme. In addlllon lo this. critical documÈnlalion Ilandowner and con8ep4allon slle ¢ons•nl8} for 911 seed bank colledion8 hAI been wothed Ihrough ond att8ched lo the wlgvanl r•cord8 on the colloctKin¥ mBnaggmgnl system for Salo keeping nd e•sy retrièval Into the fuluro. O•v•lop and malntaln th• hortlculturnl and oth•r coll•ctlon• to th• hlgh••l GUrntorf•l •nd pm•ntsllon•l •landard¥. The specialist horticultuTr team contlnued lo care for lh• national and Intemation¥ty important plant colleclions. The Ngllong18olanic G8rd•n of Wale$ has joined other 9gTden$ Across the globe in planllng crilic•lty ¢ndan9ered Wollemi pine trees as part of the first global'mela¢ollection° lo save iconic spec¢es from exllnction and help prole the biodiversity of vrild tree5. Recent advances in genetic lechnlques havo engbled Auslralhgn plant sctence and n6eNalion experts lo Idenlrfy and breed genelicalty diverne Wollomi pines. For the first lime, these gonelical dlverso ¢ollèclion$ of uplln98 arg being rn•de available lo boi•ni¢ gArdèn$ across the workl. The managemenl of plant r?￿rdS is a cri¢Kal activty as parl ol living collertion managemenl. This wort Gonlinued and involved.. Verification of nt)mencl•lu Producing the plant labels for the Garden Taking pholo9raphs lo enhance the data gualty in the plant Rcords dalabase (lrisBGI and Garden Explorer. Exporting the ￿an1 record5 database lo the Garden Explorerwebslte, which 1$ a publicty accessible plarfomi lo vlew the Garden's plant colknction. Page 3

The Natsonal Botanlc Gardon of Wal•s Report of the Trustees lorlh Year Ended 31 March 2024 Strateglc veport Revi181i$allon of several colleellon3 ￿llectIonS was undertaken this year. in¢luding the following. The BroJwalk". Furthering the development of the UK nati￿ tsmory, and buikling on the woth of 2022-23, in collabornlion whh the Bfili5h Ptgridologieal Society. Further 8011 generation efforts through Irlalllng of greèn manure seed mixes. Trfalling of UK nalives wilh provenance in the fronl enlfan¢¢ displ8y$. Developmgnl of ph￿QgOo9(aphY colbctions li.e. North American, Japanase, Aslan. southem hemiophre, Medit•ff•neanl ond hardln•s$ Irlalg olwild ¢ollected M•dlleryanean laK4 from th• Gro•1 Gh$$houw. In addilion, Ihe long4enn collaboration wilh the Japanese Garden Society h8s roc•nlty ltxused on pFannin9 Inte￿relatIon and pro9Tr55ing Ihe future de￿lopMentS of Iho Japane$o Garden e.g. the inlrodudlon of wlld CO1￿¢18d material of Japanese origty), lrialling Japanese pruning melhods and the Inlmduction of specamens Irom the Inlemgtional Conitsr Consorvatson Programm•. Double Walled Garden.. Completion of the applè 9r•fting in H&ritsg• Or¢h•rd. Enh•n¢ing th• plo111 collo¢iK)n$ lo add ¥•riely Ind inlèf•$l for vi8il0rn. Gr•at Gla$$house Enhancing fealures such as tho Jasmlne archway •nd the Pelaryoniwn bed lo 8how¢a80 the diverg• g•nus. Conlinulng Iho rnlrofitting of an irru•lion system. Tropical House N•w pem)onenl dlspl•y ol orchldg If••lured on S4C, GarddK4 • mwyl. Enhan¢èmènl of the greenw411 and bromèliad dlsplay Worklng with Coed Talylan Land Tnjsl 10 grow and display mushrooms. whlch were the fi￿1 mushroom5 •ccm$lon•d at NGBW. Nursery glasshouses Succ••sfuSty propg•ting ￿￿k1 ¢ollècl•d pl•nts of Iho8•14x• where Ih•r• w$• only on• in lh• ¢oll•ell¢n D•llvor Insplratlonal Informal and K¢redIt￿ edu¢atlon •nd trnlnlng In hortlcuftur•, plant •clgnMJ, conJ•r¥atlon, •¢ology. •ustsln•blllty. and rnl•t•d STEM sub￿¢￿, to all ag•8 and abllltS•8. to prom•)t• grnater understsndlng of the Importanu ol th• ?nvlronm•nt In our sustalnable future. The Garden continues lo attracl school and yOLrth vistts a6 part ol Its education programm•. Th•rn was a lolal of 13,249 visils, dI￿4n Irorn Ihe 14,079 in 2022-23. Lbfvlong learning Is 41so a core componenl of projeds such as th• rtynamtc Coif8ction$ Project. A lolal of 29 engagement s•ssions were del1￿￿d ty the Sciencé team In 202&24. The Garden conllnues lo provld• 118 hortiGultural apprenti￿ShIP $ch•me •nd support the hortlGuMur81 Industry, wllh funding from private funders and the National Garden Sthm¢. Vlel$h 4*aklny horlicullurè $l•ff Mall Bryanl and 8•n Wlli8m$ workod with Ihg Urdd Gobailh Cymrn. a Nallonal Voluntary Youth Oryanisalion. for ilg 2023 Eisteddfod. The learn designed and built a living plant di8play for thig annual celebration of WelGh language and culture held in UalldO￿ry In 202>24. Continue lo bulld and secure a IlnanclAIty su¥lalnabl• organlsatlon to maxlmlse dellv•ry ol Ihe corn mlvlon actlvlty ollhe Botsnlc Garden. Pa9e 4

The Natlonal Botanlc Garden of Wales Report of the Trustees lor the Year Ended 31 March 2024 $tr4tsglc rnport The Garden generates income through a range of vlsilor and prolessional services. 85 reflected in Ihese financial slalemenls. The Horticult•Jre and Science teams provide professionol conlra¢led seplices lo support cons¢rv•lion and biodiversity projects in Wales. Services have been provided lo Nalutal Resource Wale$ {NRW lor the reintroduction of Ihr8atened Shore O¢xk Rumex rnpeslri4, into tho wild. Pon(tweed Potamoqeton spgc4es h4¥e conlinued lo be grown for Ricardo EMryy & Envlronmenl and Cymru. as well 8$ the Canal and RNors Tfy61. In collaborallon wlh Planuife. Ihg rorn Dog-screw Moss Tortula G8nescen$ is beiftg grown lo lyolster the F￿pulatIon for NRWS Nalur am Byth pr. The Luminal¢ Chfislm•$ event fan for a $e¢ond year In 2023, followlng a successful pilot for evenlng arts and cuftur• experience$ in the GI￿8n In 2022. Thls succe$$lul ev8nl allfacled 26,183 people in tts ••cond y••r. This Ovonl also 9eneraled income through tho Garden'$ relall oulknl and c41ering s¢rvicés. Supporters •re ¥il81 lo Ihe G￿en. In 202&24, the Garden admlnlstered 4417 mmbèrghlp. Tthlch Is frstimAled lo be 4round 11,297 members. The osllmaled membets are hl9her in 202>24 bttause of increased purchasing of famity memberships {•nd decroas• in joinl •nd Indivldu•l m•mb•rnhip•l mulling from lh• •pplicalion of •nlr¥nco l•v$ for ¢hiEdren 2 yoars ènd okler. The Garden al￿ (ecalves incom• and donallons from other supporters. Tho Tru$t•es wouks like to Ih•nk •ll p8rtnèrn for Ihelr generosity in h8lwng lh• Gar(len io achlevo its oims •nd •mbilbni. T1￿ followlng lisl r•wni$•i some ol th• MMI 11gntfKanl supporte￿ who havo helped this yo•r.' Welsh Govemmgnl The National Lottery Herllage Fund Carm•rthon&hlr• County Councll The Waterloo Foundallon Marther Applo Network Mel¢ourt Indu$lries Ltd Y81rad Nursery ond Agricultur•l Suppllg5 lty￿1 Dda Unlvgrsty Ho8llh 80ord Individual financial and in-kind support Including Ell8en KAY (ln honour of Quenlln Kayl,. Sandra Vemey, Andrew Lorge. Steve IMl$on, Ainsleigh Rlce, Carwyn Graves and Andrnw Morton. Volunl••r conlrlbutlon The Garden ts exlremefy graleful for the tremendous efforts ol volunteers who are Invohed In ils di¥er80 charty aclwllles (hort￿ul1UTe, scienc re50afch, seed l)anklng, herb8rium, be&keeping. landscape rangers, library, talks. bu99y driving, commerclal supporl, archaeolo9ical wo￿, admini$lr4lion and marteting support). Importantly. • team of ¥olunlo?rn adminryl•rnd a vljllor ourley ￿￿Tal month¥. Th• Garden has a lolal of 249 volunteeTS (including corporate volunleerfn9 groups from HSBC and Departmtnl ol Vlorkg & Pensions and ¥upport workorn for volunl¢ots from Mencap Cymru. Famity Support WAle8 and Ihe National Aulisllc Socitityl. In 202&24, Ihere was An increase of 22SO hours Irom Ihe PTtvious year and Ihe volunlary input w48 27,595 hourn (excluding Iho work olTfust•MI. Thh Is gquivAl•nl of 14 lum lim• 8l•ff12023'. oquiv•lenl 10 13 slaffj. The conlribulion ij valved 81 £287,540. Page 5

The National Botanle Garden of Wales Report of thè Trustees for the Year Ended 31 March 2024 Strnl•glc v•port A¢hhvemeDt and performonGe Plans for 202ty2025 and b•yond The next fin8nGl41 y8r. 2024-25. will seè th• introductlon of the pl•nned lo•n•r buiin¢81 opo141inp model 88 an outcome ofthe change man89ement work undertaken in 2023-24. Th• G￿0n wlll contlnu• lo 8lrfve lo create • betler fvlurn by belng 41 the lorofmnl ol pkinl re￿arch, •duullon, •￿1 horticuAuTe and public engagement. Realising our full polenltal will delNer hI9￿qUalIty ￿lent￿C evldence to infom) action, maxlmlse the national and global value of the National Bolanlcal Collection. and enrich and emptrwer individu•ls and c￿mUnItieS through leamlro and engagem•nl. A new >year slralegic p￿n be enacted in the 20225 financial yoai. A focus on the organ¢sation and key future $pi181ions forlhe n8litinal inslitullon has gvided the slrale9ic plan's development. Tho plan highlights the key mo¥8$ ne•ded lo shape the direction that lh• N•lional 8olani¢ Gardvns of Wales will lak• In tho coming y•ar¥. This plan w•$ inspired foll￿n9 hearty di8¢￿510n$ wrth NBGW Staff and Trustees in 2023. The eLxnomlG •nvironm•nl with cost￿l-lIVIng Gh•llenge$ in Walos conllnues lo lesl slral¢9iè8 lo ddve vlsits and vlgltor spend. Tho Garden wlll conts.nue to 8ddress Ihls through careful finoncl•l and r850urce managwnent, improving relums from ilg assels, and providing visilorn with a unKiue experience, as well a5 value for money. Furthemor•, reGNrting lo slrenglhen businY4$$ acumen will enable the Garden to deliver new initlallve5 lo divers 618 bu8lness operating model and redu￿ the full rollablllty on inwm• gener•led through vwtt$. Th8 Welsh Government'3 Nature NgtWOTk8 Fund wlll bo fundlng th¢ defr4•ry ofinfro$lnJcturn impfov•ments on IV8vn L$ Nilion81 Nature Regervt. Th1$ wll Bupport the G4rden'6 work In improving blodlver81ty v4hil• engg9ing vlsllorn on natur81 heritage. The projecl njns fmm 2024 10 2026 and will fund 4 0.4 FfE ConseThallon En94gement Offlcer Tole. Th• pr•pJf•llon of• Llvln9 collect￿nI Slralryywlll cornmen￿ In 2025. Th1$ proSectw$ dè14yed kn 202>24 pending the recruitment of a now Head ol Horticutturt (fomef Curator role). This 8lralegy will guide further development of lh¢ Gèrden's INin9 collections. The strategy wll pay partlcular attenlion lo Welsh native ftora and articul91¢ the prlorllles lor hortlcultural d￿010pMent and plonl Con￿￿40110n. 2024-25 will see the delivery of a mojor arts evenl Ihrough a collaborntlon with Waks bo$ed arts ¢hArity Walk th8 Plank. Thi8 gims lo be the $l•rl of •n 4nnual plan lo brin9 hlgh ¢alibTe art ex￿rianCeS lo the Garden •• p•rt of op•nlng up Ihe Garden al nighl offertng new vislloT experlence$ and 9eneraling new In￿Me. P•ge 6

The Natlonal Botan1¢ Garden of Wales Report of the Truste for the Year Ended 31 Mar¢h 2024 Strategic report Achlevemènt and perfomanc• Inv•$lment perfomiancè agalnst the Invostment objectlves. Tho Tru$le¢$, having r•g8rd lo lh• Ipluidity roquir•monl$ of tho Chanty, hft￿ kept avallable funds in inlorO8l••ring dtposit accounts and seek lo achieve a rale on deposit ￿1¢h malthes or exceeds Inflation as measured by the retail pri￿$ index. Due to w¢der economic Circumslances, deposil Tales have been low and infialion high, 50 thls aim was not achieved in the year. Th• inve¥lod fund$ h¢kl on d¢postt •¢hl¢v¢d In aver49• rala 012.6%12023'. 0.8%) aoainsl the relall pri￿ Index of 4.3%12023.' 13.5%> lor the y••r. Flnanclal r•view Flnanclal posltlon Thg 9roup'¥ flnan¢l•l po•ltlon •t th• •nd ol th• ye*r Md•d 31 M•r¢h 2024: Thg financlal positk>n ol the group Ot 31 March 2024 and comp•r4tlve$ for the pr￿r period, as fflore ful￿ detailed in tho a¢¢ounts. can be $wnm4rl$ed a• lolk+W8.' - 2024 2023 N•t ID•ficltVSuvplui 123510 Unroslricl•d revenue knds available for the gengral Pu￿05￿ of tho group Unreglricied heritage asGets Unreslrided Ilxed 8$sels Totsl Unrnstrlctod Fund• 505.405 986,423 5,857.099 7 348 927 516.985 6,590,474 7 107 459 Designated revenue fvnds Totsl deslgnat•d lunds 200,1)00 200,000 200 000 R••lrlcted Mvenue funds Reslrided f￿80 assel funds Total r•strlGtod lunds 166.462 18,780.514 18 946 977 244.388 19,758,958 Totsl Fund• 26 495 904 27 310 805 Flnanclal r•vlew of th• po$ltlon at reportlng dat•. 31 Ma￿￿ 2024 The financial year ending 31 March 2024 5•w • deficit of £815k on opvralln9 •divi11•g12023.' £124k surp1￿) dlhi lo lower grant Incom• •nd inGrea$ed cost$. In Ihe year. lolal resources 01 £4.5m {2023: £5.3ml were received Comprising £4.Om12023.. £3.7m} of unresldcled funds and £0.5m 12023.. £1.7ml of reslricled income. Total oxpended rg3ouTce$ in the year amounled lo £5.3m 12023.. É5.2ml wilh £3.8m 12023.. £3.7ml from unreslricled fvnd$, l¢•vin9 an unre$trid¢d fund balance carried lorw•rd of £7.5m12023.. £7.3m). £1.5m12023.' £1.Sml was expendod from reslitcled fund$, leaving o reslrid¢d fund balart￿ carried forward of £18.9m (2023.. £20.Om). T+)tal fvnd balan¢e$ •131 Mar¢h 2024 were £26.&n {2023'. £27.3rn1. Spe¢rfK changes in fixed assets are del8iled in Ihg notes lo the accounls. Tangible fixed èssels at cost or valuation decreased lo £24.6m {2023.' £26.3ml represenlin9 £24.3m {2023.' £25.Oml ol land, bulldings, pl8nl and rngchlnery and £0.3m12023.. £1.4m) In eslale vehiGl•s, fixtufe$ •nd fittings and. in 2023. living plants ènd planting ￿$t$.The main factor contributing lo the decrease in Ihe c4s1 or valuation olTangible fixed a$sel8 relates to Ihe Ifansfer of Ihg ¢harity's plant collection lo Herilage Assets. Heiitage A¥set8 a￿ ¢ategorised separalety on the balance sheet. in line wilh FRS 102. Page 7

The National Botanlc Garden of Wales Report of the Trustee$ forlhe Year Ended 31 Mar¢h 2024 Strateglc roport Financial revlew Reseryes poll¢y Reserve5 Are neoded lo brfdge the gap belween the 8pendlng and re¢èwin9 of income and lo cover unplanned emergency repairs and other expendilurn. The Trustees consider the laryel level of free reserves should be around £1,000.000. The G•rd8n'$ reserves pdiLy18 infomed by: forecasts lor levels ol income in future yea￿. forecasls for expenditure in future year5 on plann¢d ¥vAlvity: an•ty¥l$ Ind 4$8•$gmenl of fulur• n•eds. opportunlJ•$. contingencmis and risks. Unregldct¢d reserves increased by £205k from £7.3m lo £7.5m afterlransfeTS from roslricled lunds. These are funds whlch 4f¢ expgndable 01 the Board's dlscrelion In lurtherance ol the oblects or adminislialion of the Charity. Th• Ga￿en saw a dee￿aSt in ils free reserves Ifom £517k lo £505km as al 31sl March 2024. reflecting the surplu8 for the year. reduction in Ih? nel l)ook value ol unreslricled aS￿lS and Harbtage Assets rn-allocalion. .The Garden airy lo bulld its rn$trvo8 in lulure lo rnlch It8 larg81 level of re8erv•s. The consolidalgd b81onc¢ Tem#in$ sound net ¢Uffonl 8S8et8 01 £909k (2023.. £1m) and th• owngrship of lon9 leasehold inlero11. The Grfen $aw • decrt•8e In 618 cash balancos by £251k In th• yoor. The T￿￿tePS have revimd th• cir¢umst8n¢es ol the Garden and group and con¥ldor that odequate rnsourc¢s nlinue to be availablè lo fund th• aclwrfs of the Ganlen and group lor the forweable fulurt. The Trustees a ollhe vlaw Ihal the Garden and group gr• 4 going concem. The G￿￿0n lmts lo conllnu• lo bulkl tts rese￿•$ in the fulufe lo ensure finan¢ial $ust4inability. Furthermore. theTru81e8s approved 8 change man•gomenl pro¢¢ss in 202> 24, whith result¢d In T9du¢¢d $lffin9 ¢0$1$ going forward. Th? Trugleeg arè aware ol drficuh tradin9 condllion8 for the loreseeable ILrture given the ¢091 of li¥lng ¢ri81$, hlgh inflklion and increased inleresl rnles. The Trustees will rnonrtor Gosls and adivitl&$ duriNJ the year. Av•llablllty and ad•4u•cy ol of each olth• lund8 Tho Board of Trv61ees is satisfied Ihal the charity's assets In each fund are 4¥4ilablè and adequate lo lulfil its oblig•lions In rn8pecl of e•ch fund. The malor rlsks to thlch the Ch•rlty Is exp(•d 8nd rèv10￿ and 8y8t•m8 to mltlgat• them. Th• Try•t•e8 hav• A ft8k management Strategy whlch comprf8e$'. a b￿annUal revlew of the princlpal risks and uncerfoinlies Ih81 the charmy aThl Ils subsldlary la￿,. the esl#blishmènl ol por￿les. systems and procedures lo mitffjale Ihoso risks identified in the blannual I￿¢eV￿, rl•k regiiler Ih•l 18 upd•l•d and ple8￿1•d lo th• Board qu•rt•ty: and Iht imp12menlAlion of procedures designed to minimise or man8ge any Wenlial imp4¢t on the charlty should Iho$o ri$k$ mAleriallza. Thi$ WO￿ has identird that financlal suslalnabllty Is a financl81 rlsk for both the ¢harity and Its subsldiary. A key ¢lemenl in the managemenl of financial fisk is a regular review of avallable liquid funds lo sellle debts a5 they fall due, and adive mn#gèmènl ol Ir•de deblorn •nd crèdilorn b•lanc48 to •niure $ufficlonl worklng ￿p1th1 li •v•ll•b lo the Charity and its subsidiary company. Attenllon conlinu•s 10 be 1o¢uW on non-financiil rl$k$ •ri8lng Ifom flre, h••lth •nd ¥•f•ty of il•ff. volunl••rs and the public. These risks are managed by ensuring accredilalion is up to dale, having robusl pollcles and procedur08 in place. and rngular awarenegs tlaining for slaff and volunteern w0￿1n9 in oporational areas. Th8 Garden has Ihe folSow¢ng slral8gies for monoging Ihg principal ri5ks'. The Garden continues lo explore nthv and proffi1a￿e brand aligned revenue streams lo enhance the Garden's reach ond offersng as V•pII as redu￿ ils dependency on public sector funding. The Garden acknowledgvt$ thè st9nificanl value lo partnerin9 wilh other oryanl8allon8 lo dellver its mi$slon on financialty Sustainable basis and is commrtted lo working to develop these relationships lo the benefit of all. Tho Garden is now 24 years old and the need to malnlain infrnslruclure 4cros$ Ihe 568 aues represents • long-lem commrfmenl. WG and other capital funding is inle9rg1 lo meellng the ¢0519 of rnpairn and developmenl. The Garden is aware that its commercial infAime is ￿lated to the economic climate and fadois $uch as availab￿ di9posèble income, public secfor ¥pending and the gconomy in Wales and lurther afield, and regularty reviews martel trènd$ lo Identify likety impacls on the Garden. The Garden compelilivety and SU￿$￿1￿ applies for grant funds lo support various iniliatwes. P8ge 8

The Natlonal Botan1¢ Gardon ol Wal•$ Report of the Trustees for the Year Ended 31 March 2024 Stmcturn, governance and management Legal StnJ¢ture of thg ¢harity The Charty is conslrtuled as a company limiled by gu•ranlee. The govemlng docurnenl of the p•ronl ¢h•rlty 18 the Memorofmlum and Articles of As8OClation e81obli$hlng the company under company le9islalion. By operalion of law, all Twstees affj directo￿ under the Companies Ad 2006 and aH di￿10r$ 8fft Tnjstees under Chariltes legisfalion •nd have rnsponsibililies. 8$ gvch, undw bolh company and charfty legi8l•lKn. The TNslees of tho ¢h8rty arè #ll Individuals fjnd unpard. The Company Mèmbers of the Nalion•l Botsnic G•￿eft of Wales appoint Ihg Board in accordance wllh Ihe Garden con8lllulion al Iho annu81 genero1 m•ellng. Tru8l•es rellre by rolalion at Ihe Annual G•nero1 Meoling and may bg rfr818cled. Any vacan¢y is ad¥erti$ed openty and the Nominations Committee Cons￿er 411 applicalions and mak• eomrnendalions to the 808rd. The Tru$l••8 d•¥elowd and •pprov•d a n•w Govemanc Manual during 2018 and updllod It In 2022 lo •nJur• b¢sl pr8Glice in linty wllh Ihe Nolan PrinGiph$ lor standards in public lrfe, Chority Comml$slon gu￿an¢* and the Companies Act {20C6}. The Manual will be Pfovlded lo all prospectNe and new Trustees as partof an induct¢on pack during any lutur• Truste8 recrubtmenl proce58. Oryanls•tlonal •tnKIurn The Board of Truslees 8dmlnisteT5 Ihe charity. The Board meets quartety. and operates separate sub¢ommlttees covering nominations. remuneration land 18tar renamed HRI. finance and 8udil. A Chiof Executi¥• Iknov4n as the Dlrectorl is appointed ty Ihe Trustees lo manag8 the day-lfyday operallons of the charity. To lacllilale effecll operations, tho Ch￿1 Exe¢utpM has delegated authority, within lem18 of delegjlion approved by the Tru•lw$ and the GovernanG0 Manual, for operallongl mattern in¢lulin9 finance, employment and operation$. Page 9

The National Botsnlc Garden of Wales Report ol the Truslees for the Yèar Ended 31 March 2024 Stru¢tur•. gov•rnancè and m•nao•m•nt Governance Review During 2022-23 Ihe Boar(l of Trustees commen(d a compfehensive 9ovemance ￿VIew. to conshler any changes Ihe Bo•rd needed lo make lo Impro￿ overall pgrformonix of the organis4lion. Irb addit￿n to Iho ¢hange$ implernented in 2022-23 li.e. slrenglhening Board ovetslyhl ofheallh and safety i55ves, as well a3 risk management). the Board agreed in 202>2024 to eslablish fyvo additional subcommittees (Health and Safety and Govemance and Risk) lof commenrmenl in 202*2025. In 202>24, the Temi$ of Reference for all committeeg were developed

ndlor revlewed for impfemenlation in 202&25. The go¥ernancg review pro¢¢s$ wlll pn In 202￿25 4nd th•

8oar(S will conlinue to monltor its effectiveness and perfomiance. Chl•l Exttullve Offlcor •nd oth•r s•nlor m•n•o•m•nt p•rdonn•l to whom d•y to d•y mno•m•nt l• delegat•d: Tht sènior m8nag•m•nl pervjnnel of both the Charlty •nd Iradirq 8uhidi4ry •1 Ihg d¥1• ol •pprov•l of th r•port and during the ac¢ounling pgri¢J ware 85 lollows: Ex•cull¥• Sonlov M•n•g•m•nl T•am: Dr ￿ Sulhgrf8nd Chief Ex¢Gutiv8 Offi¢8r (Dirtctorl, appolnled October 2022 Ms SC Evans Head of Finan(, left December 2023 Mr MJ HowellJ Head ol Finance and CommerGi81 Opèralion$. Appoint￿ Ma￿￿ 2024 Mf M Newbol Head of Martt•ling and Communications, oppoinled July 2023 Mr J Smilh Head of Faciiiiies & Operalions, appointed April 2022 Mr A Summers Curalor, loft June 2023 Mr C Wlliams HeAd of Hospit81ty. lèft Mrch 2024 Ms AM Nlchol•$ HR Manager, appolnled Seplembor 2019 and joln¢d Senior M&nagem•nl Team offictalty In NOVem￿r 2022. S•ttlng pay and r•muneratlon of key manag•m•nt p•rsonno1 The Board ol direc10￿. who 8re Ihe Charity's Tru$leos, and th¢ senior manwment leam. comprise tho key mon4gemenl ￿￿onn￿l of the chgrity In ¢h8rgè of directing and conlrolllng. running and opèiAling the Chadty on • doy lo day basis. All dlrectors glvo of I￿1r lime frnely and no dlreclor receN¢d remunèrnlion In the year. There wern no direcloTr' expen￿5 or molorial related p•rty Irans8¢tion$ in the year under review. Th• of the senior 814ff18 revlewed pgrlodlcolly. In vi•w of th• nolur• ol lh• ch•TIty. dlr•¢torn l>enchma ag4ins1 p8y l&velJ irb other regional ¢haritifrs of 8 $Knilar n8￿re. Th• charlty ￿ • part ol 4 wld•r n•iwork The Garden works in partnernhip with a large number of partner organlsalions and indlvklual supportorn Ihrou9houl Wate8 and Ihè wider inlemallonal community. The areas of partnership include those from hgrlicullurè, ￿u¢•li0n. $u$lain•bility, cons•N•tion, S¢len￿ •nd resea￿h •• w•ll as hisloriG land&cap•, art8 and Wèljh culture. Th• ch•fSty's r•latlonsh4ps wlth rnlated partles. Th• Trustees volunleer and none rerAive remun¢rilion. Any ¢onn•¢tion between • Trugte• or senior manager of the charity must ￿ disclosed lo tho lull Board of Trusleos in Ihe same way 48 any other rJ)ntractu•l ro14lionship wlth relaled paty. In the currenl year no mateilal related party transactions were reported. The ch•rity¥ wholty owntd sub$stli3ry, Middlelon Garden LlmR•d, wo5 eslablish•d lo op•ral• the commerri•l ¢8lering, conforencing, farm and relail facililles al the Garden. Middleton Ga￿en Llmlled has a Ikense from the charlty lo oper41fj Ihos8 laciliti•$ and distributes rts profil8 lo the charlty {8e• note to the K¢ountsl. Related partles The parent charity is The N8lional Botani¢ Gardgn of Wales. The $ubsidi8ry is Middleton Garden Limlled. R•ter•n¢• •nd adrnlnlstrntlvè detall• Rgglstorgd Company numb•r 2909098 IEn9l•nd and Wales) Regist•1￿ Chaiity number 1036354 Re9l$tertd offic• Neuadd De9 Middleton Hall Uanarthne Carnorthenshire SA32 8HG Page 10

Th• Nailonal Botan1¢ Gardon of Wal•$ Report ol the Trustees for the Year Ended 31 MaKh 2024 Trustees Mr D G Davi88 (Chair) M$ M Doel Professor l Donni$on Mr D Howell Mfs J James Mr D Jenkins Mf T Jones Ms S Jennings Dr S H M Matthews IWIG¢-Chair) E Parrott DT P Smrth Mr R G Thomas Professor P Wall Mr S Williams Mr M Woods Mg E Whittle (Reappointed as Ch8ir 1 Dfjcemb¢r 2023) {Reappoinled 1 December 20231 (Reappointed 1 Decembef 20231 {Reappoinled 1 December 2023.. iesigned 23 February 2023) (Reappointed as Vir Chair 1 Llecember 20231 (Resigned 2 June 20231 (Reappointed 1 Oecember 2023) IResigne(11 Oecember 2023) (Reappointed 1 December 2023) IR•ppolnled 25 Novemb•r 20221 Audltors Haln05 lJ¥#tt$ 14V•l•• LLP, SIAlulory Audllor• 7 Neptune Court Vanguard Way Cardiff CF24 SPJ Statement of trust•es' rnspoThslbllltlos Truslees (who a￿ also the diroctors of The Nal¢onal Bolani¢ Garden ofwales forth• puws ofcompany law> 4r• fe$ponsibl? for prepgring the Report of the TnJ$lo￿ and the financial $18lem?nls in accordance with appIl￿b low and Uniled Kin9dom Accounllno Sl#ndards Iunilad Kin9dom Goneralty Accépl•d Accountsng Praclic•). Company law requires the Twslees lo prepare financial s14lements for each financial year which glve g In￿ and fair view of the $lalo of affairys of Ihe charllable ¢ompany and ol the Incoming resour￿5 and application of resou￿es, in¢ludlng the incom• #nd expendltur•. of tho ch•iil•bl• c4ynp•ny for Ih•l perlod. In PTep•rlng Ihoje fin•ncl•l slalemenls. Ihe TFu$leos 8r¢ requlr¢d 10 select $ullabl8 8ecountin9 policles and then appty them conslglenlty,. observ• the method8 and principlgs in the Chorily SORP: make judg¢ments •nd è$limale8 Ih•l reasonable and pnjdenl; slate whether applicable accounting slandards have been followed, 5ubj•ct lo any material depariurns dis¢tos•d ArKI explained in the financial slalemenls.. prepare Iho fin8nci41 $lqlemenl$ gn the going concem b•$is unlo$8 it is inappropflale lo pTrsum• th•1 th¢ ¢ho1ithble mpafiy wlll conllnue In busin088. The Tn4s1ees affj rnsponsible for keeping pl￿r •¢¢ounting reco￿$ ￿tch dis¢la8• With r•asonable aexuracy at any lime the fin•ncial position of the charilabb ¢ompgny and lo enable them lo ensurè Ihal the financlal Statements omply wrth th¢ Companles Acl 2006. Thèy are also responslble foi safgguèrding Ihg agsels of the charitabl• company and hence for14king reasonab￿ slep5 for th¢ ptvvention And delectlon ol fraud ond olher Irfè9ularilie8. In so far as the Trustees ar¢ aware.. Ihero Is no r•l•v•nl audit inloftnallon olwhl¢h th• ¢h8rf14bb comporfs aLtdllorn •rn unawAr•'. ond the Truste95 have laken all $leps Ihal they ought lo have tsken lo make themselves aware ol any relevaDI audil intoThation and lo eslabli5h th41 the audrtors are awore of Ihal Infom)alion. Audltorn The audrtors. Halnes Wotts Wales LLP, Stolulory A￿•410￿, will be proposed for wppointmenl al the lorthcoml Annual General Meeting. Report ollhe T slees, diroclors. on ...... g strategic raport. approved by ordèr of the Board of Trust￿s, •s Ihtr ¢ompany . and ¥igned on Ihe Boafd's ty.. DG Davies Chair ofTNslees PAge 11

R•port 01 tho Inde￿ndent Audltorn to the Mtmbers 01 The Natlonal Botanlc Garden of Wales Oplnlon We have audiled the fthancial statèments of The National Botan￿ Garden of Wale$ (Ihe'parenl ¢haritable company'l and 11$ subsidiary forlhe year ended 3151 March 2024 which comprise Ihe Slalemenl of Financial Aclivilles, Ihe Balance Shegl, the Cash Flow Stsiemenl and notes lo the financial slalements, Induding a Summary of signrficanl accounting poll¢s. The financial ￿pOrtIng framework that h3$ been applyèd in their preparalion 1$ applicable law and Unil&J Kingdom Accounting Sl8ndArds Iuniled Kingd)m G¢n¢ralty Accepted A¢￿untIng Practic¢>. In our opinion the financial stalemenls.. givè a Irue and fair vtew of Ihe stale of the group's and parent tharilable company's affairs as 813181 March 2024 and of Ils incoming resources and application of r050ur¢es. including tts Income •nd expendilurg. for Ihe yeaf Ih8n onded.. have been property p￿Pared in Bccotdance with United Kingdom Geneialty Accepted Accounting Pr•¢ti¢e: and have been prepared in a¢cordan¢8 wrth tho requirements ot the Companies Act 20C6. Basis for oplnlon Vrfe ¢ondu¢led our audit In •¢cordanc wlth InlomationAI Sland•rd$ on Audillng IUKI {ISAs (UK)) and applicable law. Our responsibiliti0¥ und•r those sl8ndord¥ Jre furthor doscribed In Ihe Audrtors, re¥p¢n$ibililles for tho audil of th• finènaal statements section of our repo.rt. We are independent of the chafiiable company ac￿rdanCe with Ihe ethical r¢quiremènl8 Ihal are revanl 10 our audrt of the finandal slalemenls in the UK, Including Ihe FRC'S Elhlcal Standard, ond T1￿ h4¥0 luffiued our Olhgr olhical respon81bllllie$ In 4cc4rd•nc• wtth these ftquirem•nls. Vle belve Ihql Ihe audlt ovidence we have oblalned 1$ sufficienl and appmprlale to provide a basls for our opin￿n. Con¢lu•lani rnhllng to golng In auditing the financlal slalemenls. we have conduded that Ihe Trustees. uso of the going concem basis ol accounliw in the prnparab'on of Ihe fjnancigl slalomenls is appropriJl#. Based on the work we have perlomi8d, we have not Id?nlified any material un¢ertalnlie$ ffjlalln9 to evenl$ or condilion$ Ihal, individu81ty Or colhctlvety, m•y ￿1 $ignffiranl doubl on Ihg Charitoble Company's ability lo continuè •s a going ¢onc•m for • p•riod of at kA81 months from when th• fin￿¢1•1 thtem•nts are Julhorl$•d for Issue. Our rn$pt)n8ibiliI￿S and th• r•spon$lbllitk•i of th• Trustees wilh r•sp•ct lo golng conc•m ar• d•8cdb•d In th rnlovint se¢Uons of this repoFI. Oth•r Infomi•llon The Irusl•o$ arg r•$ponslble for th• other Infomallon. Th• Ot￿r Infomallon ¢omprls•• th• inlom•tion includ•d In I Amual Report, other Ih8n the financial 5ts1omgnt¥ and our Report of Ihe Indeyndenl Audllors thereon. Our oplnlon on the flnanclal 614lwmenls dots not cover the oth•r Informallon •nd. excapl to the •xt•nl olhe(wis• explicftly Staled in our report. wè do not tsxpr•ss any lorn of assuranc• con¢lu$ion Ihereon. In connection wblh our •udil of Ihe financ￿1 8lalemenls. our r98pon3lbility15 to read lh• other Inlomalion and. in doln9 $0, consider whether the olher Infomialion is materialty inwisislenl wlh the financial slatsm¢nl$ or our knowledge obtained In the audit or otheTh¥48e appea￿ lo b? maloriBltry m1551algd. If wo identify svth maierf81 inconsistencies or appaffjnt rnalevlal misslolemenls, we are required lo delemine whether there Is i material mls81alemenl in Ihe financlal slalemenls or a material misslalement ofthe other infomialion. If, based on the Wofk we have pèrtormed. we condude Ih#l there is m•lert•l misJtJlgrnenl olthi$ olh•r inlomi•llon. ￿ 8f• r•qulred lo report Ihjl f•d. Wo h8¥• nolhirKd to roport in thi8 r•gArf. Opinlong on other matters prns¢ribed by the Companlgs Act 2006 In our opinion. based on Iho work undert8k•n in the course ollhe audlt.. the infomialion given in the Report of Ihe Tfuslge¥ lor the financial year for whith thè ffinanclal 8lal•m¢ntts af¢ prepared Is consislenl with the financi81 $lalemenls'. and the Report of the Trustees has bèen pmpar•d in 4ccordanui with applicabl• ho41 r•qulram•nli. matte￿ gn wh5ch we ar• requSrgd to v•port by •x¢ptlon In Ibe lighl of the knowledge and und8rsl•nding of Ihe charltabk ¢omp•ny and ils onvifonm•nt obtalr￿d in Ilw course of the audrt, we have not idenlrfwd material missla*menl$ in the Report of the Tru$l¢es. Vle have nolhlng Io f•POrt in re$ped of the lollvwing matters where Ihe Comp¥rAe¥ AGI 2006 r¢qulros ui lo report to you in OUT opinion.. adequate accounting ￿e0rd$ have not been kept or retums adequate for our audil have not been received from branch•8 nol visllèd by us,. or the financial slalemenls are not In agfeement with Ihe aC￿￿ThI4n9 records and relums., or certain disclosures of INslees' remuneration specifted by law are not made-, or w• h8¥e not ￿¢￿1ved all Iho Infomialion and explanalions we fequire for our audil. P8ge 12

Report ol th• Indewndent Audrtorn t• th• M•mb•rd ol Th• National Botanic Garden ol Wales R•sponslbllltles of tnvJtees As explained more lulty In the Stalemenl of Trustees, Responsibilrfie8, the TNslee$ (who are also the throctors of the chaiitable company for the p￿￿oSeS of company lawl are ￿sponsIble foi the preparation of the finanGial stslemenls and for being satisfied Ihal they grve a liue and lair vtew, and for suth intemal control as the Iruslees delemiine is necessary lo en4ble the preporation of fin4ncial 8lalemenls Ihal •re Ire& fTom malerlal missl8lem8nl, wholher due to frjud or error. In preparing the financial stalemenls, the Trustees are responsible for assessing the ¢haritsbfe compans1$ ability lo continue 85 a going coficem, disclosing. as appli¢abl¢. rnatters related to going concem And using Ihe going concern basi% of accounling unlo99 lh¢ Iruslges oilher Interh4 to liquidate tho ¢h8filgblw company oi lo ceafje oporalions. or hove no Il$ll¢ allem•lfvo bul lo do $0. Our regpon$ibllltl•s for the audit of thè financlal 8tal•ments OurobJ'e¢tives ar8 lo obtain re969n4bl¢ •s$ur•nce about whelherthe fin8nd8lslalemenls as a whole or8 free Irom malerial mi8$latement. wholhor due lo lrnud or error, and lo Issue a Report of the Independent Auditors Ihal Indud8$ our oplnS0n. Reasonable a55UTBnce is a high level of Assurance. bul ig nol a gugranlee that Sn aLM1il conducted in 8ccord#nc8 wth ISAS (UK) will afvdays delecl a material misslalemenl when il exists. Misslalemenls can arw from fr8ud or effor and are considered m•ltrial rf. Individualty or in Ihè 4ggre9ale, they Could roa$on8bty be expected lo Influence the econom decislons ol users lak•n on Ihe basis ol Ihew financial stl•ments. Inegularilies. induding fr8ud. are insl8nces of non-compliance with laws and regulations. We design proc4dures in fine with our responsibilili&s, oullinod above, lo deltct material mls$tal•menl$ in resped of irregularits, InclLKling fraud. Th• exlenl lo which our proc•dur8J •re c4pabh of d•l•Glln9 irregul•iili•¥, Indudlng ffayd is detallad bdow.. The extent lo whith our procedures 4r8 Ca￿ble of dol¢¢ting irrngularilie5, In¢￿ding ffaud Is delaiknd bolow.. Ourpl•nnin9 procedurns Id•nlKy the logal ind rngulalory framewo￿ lppllcable lo lh• QP•Talioni and flnancl•l ilalem•nt• ol Ihe group. These are r¢vlewed intemally wlh Iho •udrt 188m inctudlng rek¥¥nl Industry experien￿ 8nd ¢xpo¢talion$ •$ 11 as extemalty wllh the client management. The key laws and regulations we considered in this conl¢xl were I Compan1￿ Act 2006. Ch4rf1¢03 20114nd relevant lax legl$lalion. Onc• k1•ntffi￿, w• ••￿8 th• Ti$k6 of m•lerlal mls8lalem•nls Ki r•lllon to the laws and r•gulallon•. iffegularfli￿, in¢luding fraud and adjust our l¢stin9 accordlngty. Our audll pro¢4dure8 Include: Dl8cu$6ing with Trusloe$ and man•g•mgnl whlch •r045 of lh• bu$inos$ they bellev• lo b• mor• ¥usrApiib to frrdud. and whelh•r Ihoy have any kTr￿￿edge or Susplclon of fraudul•nl Klivlll•$'. Oblalning an unde￿landing ol the key controls pul in place by the group lo address risks idenlifi•d, assessing the effecliveness Df Ihose and discussing how I￿$e are malnlalned and monilofyd intematy,. A8ses$lng the rl8k of man8gemgnl override and and t￿ling of loumal enlrles made Inlo the •¢counlin9 Sy81em', Dlscus$ing wilh TNsl•es and ffl•rtagom•nt ￿0*1 and regul•lory oblwJ•lton8 oflhe buslne$$ and whether they havo ary knowledge or suspicion of non-compfiance. C)08pll• Ihe audit boing planned and conduGt•d In at￿ld1￿c• wlh ISA$ IUK) Ih•re rwnalnl •n un•void•bl• rlsk Ihlt maleri41 mi5slalements in the finandal slalements may nol be detected owing to Inherent IlmilA￿on¥ of Ihe audit. and that their very nature, any suth inslances of fraud or irre9ularilies likety Invol￿ collusion, forgery. inlenlional mi$repr¢sonlation. or the ov¢nido ol Intemal controls. A lurther d¢$¢ripllon ol our responsibllilies for the audit of the financlal slatem•nls 18 lo￿18￿ on the Financial Reporting Council's website al VhYW.fr¢.or9.ukIaudilor9￿3PQnslbi1rt18$. Thls description loms part of our Report of the Independent Auditors. P¥ge 13

Report of the Indep￿de￿I Audltors to the Mgmb•rs of The N•tional Botan1¢ Garden of Wales Uso of our roport This Teporf 1$ made solely lo the ch8rrt8ble company's members. as a body, In accordance wlth Chapler 3 01 Part 16 of Ihg Companies A¢1 2006. Our audit work has been undertaken 80 that Wo might $18le lo the ¢h8rii•bkn company'6 membern those matter$ we are required lo slate lo them in an auditors. report and for no olhof Pu￿0￿. To the fullest extent permitled by law. we do not accept or a$$ume re5pon$ibilily lo anyone other than the charilabl& company and Ihe eharitabla comp4nls members as a body, for our audlt work, for thi¥ report, or lor the opiniong we h•v• forned. Victoria Carter {Senlor Statutory Audltor) ft>r ar￿ on bphalf of Haines Watts Wales LLP. Statutory Audttorn 7 Neptune Court Vgnguard Way Cardrfl CF24 5PJ D•1• Page 14

Th• Nallonal Botanlc Gardon of Walos Consolldated Statement of Flnanclal Activlties (Incorporatlng an Income and Expendlluro Account lor the Year Ended 31 March 2024 2024 2023 R•stricted Totsl funds Tolal lunds lunds Unre81rfctrd fund Not•• Incomè and endovanents from Donations and legacies Charitable acts'vities Investment income Other trading activities 866.207 1,571,342 23,172 1.528.063 142,625 315,655 1,008.832 1,886.997 23.172 1,528,063 795,877 3,182,950 11.030 1.341.751 Total 3,988,784 458,280 4.447.064 5,331.608 Expendltur• on Ralsing funds Charitable acts'vities 1,540,875 2 242.453 1,540,875 3 721090 1,31S,934 3 892 164 1478 637 Total 3,783,328 1,478,837 5.261,965 5,208,098 Net In¢omèl(•xp•ndlture) Transfer betAeen lunds 205,456 (1.020.357) 36.012 (36,012) 1814,901) 123.510 20 Reconclllatlon of funds Total funds brought lorward 7,307.459 20,003,346 27,310,805 27,187,295 Total fund• ¢arrl•d forward 7.548,927 18,946,977 26.495,904 27,310,80S Contlnulng op•r•llon• AJI income and expenditure have arisen from ¢ontsnuing activities, Page 15

The National Botanlc Garden of Wal0$ Company Number: 2909098 Consolidated Balance Sheet At 31 March 2024 Group Charlty 2024 2023 2024 2023 Notes Flx•d Assets Tangible asset$ Her¢tage assets Investmenls 13 14 14 24,639,565 986,423 26,349,432 24,637,613 26.344,666 986.423 25.625.988 26.349,432 25,624.037 26,344,667 Currènt a$s•ts. Stock Debtor8 Cish * bank 15 16 162.369 144,485 1 143 537 170.875 502,461 1.394,690 22.9S8 212.465 1 141237 17,802 593,409 1392.313 1,450,391 2,068,026 1,378,658 2,003,524 Crndltor• knounls falllng dv• vthhin on• y04r 17 (541,475) {1,051.853} {467,431) {986.$40) N•t etsn•nt •••ts 908 916 1016 373 1016.984 Tolal a#￿ts le•J ¢urr•nt Il•bllltl•• 26,634,904 27.365,806 26,533.263 27,361,651 Cr•dltovs Amounts f•lling duo after moro Ih•n ono 18 year (39,OCh)) <55,0001 (39,lJOO} (55,000> N•t ••••ts 26 495 904 27 310 805 26 494 264 27 306 351 Fund nm Parnnl Subsldlary Company 20 7.547,289 1.639 7,303,305 4,154 Por8nt Tolal fund• 26.495,904 27,310,805 In accordance with Section 444 of the Companie$ Act 2006, the Income Statement has not been dellvered. The financial statements were approved by the Board of Trustees on . half by. and weTe signed on D Howell- Choir ofAudil &￿anCe Commiilee The nol•s foTh part of these finanGial statements Page 16

The National Bolanlc Garden of Wale$ Consolldated Cash Flow Statement for the Year Endèd 31 March 2024 2024 2023 Not•# Cash flows from operatlng actlv11108 Cash generated from operattons 23 1.(￿9.840 Cash flows from Investlng acllvltles Pufchase of property, plant and equipment Dividends and interest Proceeds Irom disposal ol fi'xed assets (290.412) 9.435 (l,561.L￿s) 11.030 Net ca$h (used in)Iprovided by investing acts'v1￿'eS (1.538.397 Ca8h 110￿ from Ilnanclng actlvltle¥ Repayments ol borrowlng Change In ¢a8h and cash equlvalents In the Mportlng perlod Cash Ind ¢a$h equlv*l•nts at th• bgglnnlng of th• r•portlng perlod (251.1 $3) <493.017) 1,394 690 1,887 707 Ca8h and cash equlvalents at the •nd of the rnportlng perlod 1,143 537 1,394 690 Page 17

The National Botanlc Garden of Wales Notes to the Consolldated Flnanclal Slatements for the Year Ended 31 March 2024 A¢countlng pollcles Basi$ of preparlng thè fInanc￿l statements The finanaal slatemenls of the charitable group, which is a public benefit entity under FRS 102. have been prepared in accordance with the Charities SORP (FRS 102) 'A¢counling and Reporting by Charrties: Statement of Recommended Practice applicable to ¢harib'es preparing their accounts in accordan¢e with the Financial Reporting Slandard applicable in the UK and Republic of Ireland IFRS 1021 leffectsve 1 January 2019}', Financ4al Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial ststements have been prepa￿￿ under the historical cost convention. Basls of consolldatlon The consolidated statement6 of the Group incorporate the financial Statements of The National Botanic Garden of Wales and its Subsidiary undertaking, which is made up to 31 March 2024. No separate ompany Statement of Financial Activities {SOFAI has been prepared for the Chanty as pem)itted by section 408 of the Companies Act 2006 and paragraph 24.37 of the SORP. Subsidlary undertaklng The charity has a subsidiary, Middleton Gardens Limited, company number 0308{￿57, a company which is incorporated In the UK and based al the same registered office as its parent. The National Botsnic Garden of Wales has Gontrol over the subsidiary by way of rts Board and Trustees. The results for th8 year ending 31 March 2024 were turnover of £1.550.281, expendlture of £1,552,792 glvin9 loss of£2,511. Golng ¢on¢érn At the tlme ol approvlng the finanaal slatement8, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the loreseeable future. Thus, the Tru$tee$ continue to adopt the going concern basis of accountlng In preparlng the financial slatements. The charitable activities are entirely dependent on continuin9 grant aid and voluntary donations as well as tradlng revenues. As a consequence. the going concern basls is dependent on the luture flow of these uncertain funding streams. Accordingly. the Trustees have obtained f0￿Cast8 and, after reviewin9 the firbanaal forecasts for future periods lo 31 March 2024, the Trustees are satisfied that. at the lime ol approving the financial statemènts, it Is appropriate lo adopt the goln9 concern basis in preparlng the financial statements. The Trustees are not aware of any material uncertainties about the charity's ability lo continue as a going concem. Inc¢m• Income is rewnised when the charity is legalty entitled to rt after any perforrnance Conditions have been mel, the amounts Gan be measured reliably, and il is probable that Income will be received. C&$h donations arè recognised on receipt. other donations are recognlsed once the charity ha8 been notified of the donation. unless performance conditions require deferral of the amount. Income from gr8nl$ is rècogni8ed when the charity has enlilJem8nl to the funds, any performance conditions attached to the grants have been mel. it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income from ch8Trtable activities and trading income is recognised in the penod to which the service relales wrth any amounts received in advarKe being deferred. Relail, café and plant sales are recognised at the date of sale. No amounts are included in the financial statements for services and time donated by volunteers. Interest on funds is included when receivable and the amount can be measured reliably by the charity., this is normally upon notification of the interest paid or payable by the bank. Tumover is measured al thè h'r value of the consideration received or recelvable and represents amounts receivable for goods and services prowded in the normal course of business, net of discounls, VAT and other sales relaled taxes. Page 18

The Nallonal Botanlc Garden of Wales Notes to the Consolldated Flnanclal Statemènts for the Year Ended 31 March 2024 A¢¢ountlng policles - cont Expenditure Expenditure is recognised once there is a legal or constructive obligation lo make a payment to a third party, it is probable that settlement will be required and Ihe amount of the obligation can be measured reliably. Expendrture is dassified under the following activity headings.. Costs ol raising funds comprise the costs in relation to generating income such as fundraising and events, marketing and publicity and certain costs associated with the Charty's tradin9 8ub$idiary. Expenditure on charitable activities includes all costs relating to the furtherance of the charlvs objectives as stated in the trustees, report Expendltur• Irrecoverable VAT is charged as a cost against the a¢tlvlty for wtrAch the expondituro was Incurred. An analysls has been provided for the charitable actbvities on a departmental basis. Costs where possible are attributed directly to the activity to which they relate. Vvhere costs cannot b? directly attributed to particular headlngs they hav• been allocated to activities on a basis consistent with Ihe use of the Tesour¢es. Support costs are thos8 functions that assist the work of the tharity but do not dlre¢Uy undertake charilable activities. Govemance c051s comprise all costs involving public accountabillty ol the charlly and it8 compliance wlh regulation 8nd good pra¢tlca. Inveslments Investrnents relate to 100Y• of Ihe share capital of the charty's wtholty owned trading subsidiary and is r￿QgnISed at ¢ost, stocks Stocks are valued at the lower of cost and net realisable value. Net realisable value is based on the estimated selling price after iaking into account all lurther costs and excess stod(s that are slow moving. Tanglblo Ilxed ass•ts Tangible fixed assets are initialty measured al cost 8nd subsequently measured al cost or valuation, net of depreciats'on and any impairm8nt losses, or in cases where fixed assetts have bgen donated lo th6 tharlty, 8t valuation al lime of acquisition. Individual fixed assets costing £1,000 or more are capitali$ed at cosL Depreciation is recognised $0 as to write off the cost or valuation of assets les5 their residual values over their useful live5 on the following bases.. Freehold premises and leasehold land Leasehold premises Plant and machinery Motor Vehides 0% 2Vg 4%- 33VJ 10/0-25% % straight line Yo Straighl line % straighl line Vo Straight line A regular annual review of the likelihood of asset impairment is undertaken. Heritsge assets Hentage assets relate to the charity's plant colledion. The plant collection purchased by the charity has been capitalised at cost. The plant collection has been categorised as heritage assets as they meet the scientific, geophysical. environmental, historic and artistic qualrties of being maintained for Ihe contribution to knovAedge and Culture in line with the charty's fundamental primary PUfPOSe. Page 19

The Natlonal Bolanlc Gard¢n of Wal•s Notes to the Consolldated Financial Statements for Ihe Year Ended 31 March 2024 Herftage Assets - contlnued No depreciation is provideo on the plant collection bwuse It is the practice to rnalntain and renew the plants on a ￿ntInual basis. Accordingly, the life is so long and the residual value so high that the Trustees consider that depreciation calculaled in accordance with accepted accounting Standards would be immaterial. Heritago assets have been reviewed at tha reporting date with no impairment noted. Taxalion As a reglstered charlty The National Botanic Garden ol Wa18818 entitled lo the exemption from taxation in respect of income and Capitsl gains received with sections 478489 01 the Corporation Tax Act 2010 and section 256 of the Taxation of Chargeable Gains Act 1992 to the extent Ihal these are applied to Its charitable obièGts' purposes only. Fund a¢¢ounllng General funds are unrestricted lunds vthich are avallable for use al the discretlon ol the board in furtherance of the general objectives of the charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance wrth specific feslrictions imposed by donor6 which have been raised by the chadty for particular purposes. The cost of raislng and administering suGh fvnds are Charged against the specific fund. The aim and use of each restricted fvnd18 Set out in the notes to the ilnancial statements. Designated funds comprise fwds which have been Set aside at the discretion ofthe trustees for specific purpose5. Th8 purposes and uses of the deslgnated lund8 are set out In the notes to the financial statements. Ac¢ountlng lor eapltal grants and Ilxed a8$et fund8. INhere the terms of the gift are met once the asset is acquifed, so allowing the charity to use the asset on an unrestricted basis, including the righl to re￿1Ve the proceeds of any future sale of the asset on an unrestn'cted basi6, then th• fixod as￿ is transferred to unre$tn'cted fiJnd8. As the related assets are depreciated, in accordance with Ihe depreclalion policy, in order to reflect the diminution in the asse( a transfer is made from the relevant fixed asset funds to elther unrestricted or restricted revenuè funds. as appropriale to the temis of the original gift. if any. Any resldual liability to the donor arising from. for example, the asset's future sale, Is dlsclosed as conts'ngent liability unless the event thal would triggef repayment of the grant becomes probable in vthlch Ca￿ o liability for repayment is recogniged. Rèlaled party exemptlon The company has taken advantage of exemption, under the lerms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republi¢ of Ireland,, not to disdose related paty transadions With wholty owned subsidiaries within the group. Penslon c¢yJts and other po8t•retlrement benellts The ch8ntable rJ)mpany operates a defined contribution pension scheme. Contributions payable to the charitable company's penslon scheme are charged to Ihe Slalement of Financial Activrties in the period to which they relate. Debtors, ¢redltots and cash Current assets and liabilities. including cash held at bank are rec4)gnised at cosl or valuation as at the year end. Operating leases Rentals payable under operaling leases are charged in the statement of financial activities on a straight line basis over Ihe lerm of the lease. Page 20

The Natlonal Botanlc Garden of Wales Notes lo the Consolldated Flnanclal Ststements for the Year Ended 31 March 2024 Donatlons and legacles 2024 2023 Donations Legacies Grants Totsl 263,302 107.003 638 527 1.(X)8.832 164,854 631023 795,877 Grants received, included in the above, are as follows: 2024 2023 Welsh Govemment (Core) Welsh Govemmenl- Rural Development Wale$ 586,992 594,000 638,527 631,023 Incom• from ¢harlt•bl• actlvltl•• 2024 2023 Actlvlty Educational and Contrai Income Membership Income Other income Plant and Seed Sales Grants Admi86ion Fees Charitable ActivNy Charitable Aclivlty Charitable Activity Charitable Activity Charitable Activity Charitable Activity 91,949 319.147 84,897 145,954 322,046 923 005 173,270 270,904 103,153 161.633 1,625.799 1886 997 3 182,950 Grants received. included in the above. are as follows.. 2024 2023 Apprenticeship Fund European Regional Development Fund & Leader Funds The National Lottery Heritage Fund The Waterloo Foundation Welsh Govemmenl Capital Funds Welsh Government Enabling Natural Resour￿$ and Wellb8ing British Soil Association Welsh Govemment Visrt Wales - Brilliant 8aslcs Royal Botanic Garden Kew Swansea Bay University Health Board Other Funds Dynamic Collections SPF- Plants HBG Training Programme Growing thè Future WCVA Welsh Govemment Events RBG Grant 2,O¢XI 5,000 99,122 241,224 15,000 1.320,000 (130,8251 982 14,852 14,500 45,764 2LX),000 467 14,500 130 41.100 26.491 8,150 13,728 9,980 3,500 322.048 1,825,799 Page 21

The National Botanle Garden of Wales Notes to the Consolldated Flnanclal Statements - eontlnued for the Year Ended 31 Mar¢h 2024 Invostment Income 2024 2023 Deposrt account interest 23,172 11,030 Income from other tradlng actfvltlos 2024 2023 Corporate and wedding Event Food and drink Other Renewable income Rental income Sales of goods 123.635 42,675 784,297 17.171 62,505 149,522 348,258 87,851 30,196 703,837 70.084 66,203 1,528.063 1.341.751 Page 22

The Natlonal Botsnlc Garden of Wales Noles to the Consolidated Financial Statements - contlnued for the Year Ended 31 March 2024 Exp•ndlture un Advertising and Ma￿alIng 31,407 279 350 32,036 63.923 Audit Fees 15.295 15.295 13,983 Bad debt (61) 1611 413 Catering Consumables 25.434 25.434 28.993 Cle•ning and Vh8te M4nagemenl 4,407 30,881 343 35,631 43,452 3,765 991.931 8,725 1,004.421 1,006.996 Educalion81 and Research E¥penditure 276 4.252 4,528 9,212 Equipm•nl Hlr•, R•ylr¥ •nd M•lntèn•n¢4 6,909 94,787 498 102,193 68,874 Event and Attrodion Expons05 33.553 59.019 145 92,718 20,321 Fami Exp6ns•s 13,937 13,937 10.351 H•alih and Salety 9,629 188 9,816 9,807 Hortlcullure Costs 29 47.594 47,624 53,447 Insurnnc• 73.253 73,253 105,871 Inl•re81. C•rd •Thl 8•nk Ch?rye• 15 45.294 45,309 40,550 IT Costs 6.760 30,263 22,603 59.625 70,812 L••w Cos1• 6,308 6,184 L•941 and Profo$sional Fèes 49,144 12.092 81,253 106.806 Ll9hl and Heal and Power 760 262,012 282,772 258,143 Loss on of ￿101 32.748 Other Costs 1,871 2,717 6,992 Olher Staff 8nd Volunleei Cosli 2.143 12,979 98.453 113.575 101.506 pps 9.767 19.409 3.935 33,111 31,812 Premi50s Repaits •nd Maintenan 92,829 92,829 141.256 Purch•$•8 603,315 18.416 845 622,576 694,939 Renl, Rates and Watsr 30,566 25 30,591 18.991 Subscriptions and Licenses 9,863 10.195 5.063 25.121 22,658 T0￿phone and Mobile$ 13.694 14,526 20,522 Translats'on and Intery)relallon 4,033 5.540 746 10,319 6.459 Travel and Subsb5ten¢e 1.265 9.623 1.186 12.073 21,298 Wagès and Salafl•s 757.594 1,293,632 361,210 2,412.43S 2,290.979 Total 1.501.875 3.174.473 570,322 15,295 5,261,965 5,208.098 Page 23

The Natlonal 8otanl¢ Garden of Wales Not¢8 lo Ihe Consolldatfrd Flnanclal Statements - ¢ontlnu•d for the Year Ended 31 March 2024 Exp•ndllur• - ¢ontlnu•d 2024 2023 Middlelon Garden Horticulture Education Admission and membershlp Operats'ons and central Fundraisin9 and events Science Inte.rpretation Restricted funds 1,404.579 375,977 130,072 212.778 1,372,359 195.439 68,914 23.210 1478 637 1,185,518 446.278 126,465 148.946 1,448.700 205.754 90.747 27,457 1528 234 Total 5,281,965 5,208,098 Not Incomel(expendlture Not incomel{expendilurè) 1$ 8tsl¢d after charglngl{credltlng)'. 2024 2023 Auditors, remuneration Auditors, remuneration for non.audlt wort Depreclation 14,29S 2.000 1,004.421 12,983 1.000 1.006,996 Trust￿•, r•mun•ratlon and b￿•11￿ There were no trustees, remunerabon or other benefits for the year ended 31 March 2024 nor for Ihe year ended 31 March 2023. Tru8teo8' •xp•n8•• 2024 2023 Tru8tees' expenses 120 297 No tru$l•e w88 remunerated or w8$ reimbursed for expense$ durlng the current or prlor ye8r Slaff costs 2024 2023 Wages and salaries Social Security cosls Freelance contract and labour Other pension cost8 2.126,409 160,585 51,825 2,236,561 153,346 49.400 2 412,435 2.510.402 Page 24

T￿ Natlonal Botanlc Garden ol Wale8 Notes to the Consolldated Flnanclal Statements - continued for the Year Ended 31 March 2024 Slaff costs - conllnued The key management personnel of the charty and the group. as noted in the tru5te8s' report. received benefits {induding gross salary. employerfs national insurance contributions and employerfs pension contributions) of £285.757 {2023'. £304,952). The average monthty number of employees during the year was as follows: The average monthly number of FTE emptoyees during tha year was as follows.. 2024 63 2023 70 Charitable adivitie8 Fundraising activities Management and adminislration 15 14 79 85 The average nL#mber ol staff employed by the group during the year wa$ 1¢)9 (2023.'113) The number of employees *fiose employee benefits (excluded employer pension costs) exceeded £60,000 wa5: 2024 2023 £80.001- £90.000 10. Comparatlv•• for th• con•olldthd stst•m•nl ol Ilnanclal actlvlll Unrestricled nd Restricted Total funds lunds In¢om• and •ndobym•nts from Donations gnd lega¢le$ Charitable activities Investment income Other Irading aclivities 734,588 1,586.345 11,030 61.291 1,596.605 795.877 3.182,950 11,030 1341751 164 Total 3.673.548 1,858,060 5.331,608 Expendlture on Raising funds Charitable activities Totsl 1,315,934 2,363.930 3 679 864 1.315.934 3,892,164 5 208 098 1,528,234 1 528 234 N•t In¢om•ll•xpendlture) (6.316> 129,826 123,510 Page 25

The Natlonal Botank Gardèn of Wales Notes lo th• Consolldat•d Flnanclal 8talement8 - ¢ontlnu•d for the Year Ended 31 March 2024 11. Tanglblo flxed assets - group Flxlur•$ flttings & vèhlcles Land and Bulldlngs Plant and machlnery Totals Cost At 1 April 2023 Additions Disposals Reda5sifiGation 31.338.213 209.168 9,677,361 64.269 (13,4801 2,352,475 43,368.049 16.975 290.412 {13.480) At 31 March 2024 31547 381 9 728 150 1.383 027 42 658 558 D•pr•clatlon At 1 April 2023 Charge for year Elimlnated on dlsposal 10,757,782 500.378 5,293,541 430.876 967.294 17,018.617 73,166 1,004.420 At 31 Mar¢h 2024 11258 160 5.720 373 1040 048 18 018 993 Net book value At 31 March 2024 20 289 221 4 007 777 342 567 24 639 585 At 31 March 2023 20,580,431 4,383,820 1,385,181 26,349,432 12. Tanglbl¢ flx•d a•s•ts - ¢h*rhy Flxturos & Ilttlngs v•hlcl•8 L•nd and Bulldlng8 Plant and machlnery Totals Cost Al 1 April 2023 Additions Disposa18 Redassffication 31,338.213 209,168 9.665,013 64,269 {13,480) 2,348,963 43.352,189 16.975 129,673 (13,480) At 31 March 2024 31547 381 9.715 802 1379 515 42.642.698 Depreclatlon At 1 April 2023 Charge for year Eliminated on diwsal 10,757,782 500.378 5,282,859 428,061 986,882 17.007,523 73,166 1.001,605 At 31 March 2024 11258,161 5 706 876 1040.048 18 005 085 Net book value At 31 March 2024 20,289,220 4,008,926 339,467 24.637.613 At 31 March 2023 20,580.431 4.382,154 1.382,081 26,344.866 Page 26

The Natlonal Botanlc Garden of Wale8 Notss to the Consolidated Flnanclal Statements - Conllnued for the Year Ended 31 Mar¢h 2024 13. Herftage assets - group and charity Plant COlle￿10n Colt Réclassification Net book value At 31 March 2024 At 31 March 2023 A reclassffication of the living plant collections to be classthèd as heritsge assets was agreed by the Board for this financial year. The plant ¢olle¢tion was hlstoriGally purchased and is valued at Purchase price In a¢¢ordanc• tho charity's accounb'ng pollcy. 14. Flxed asset Inve8tm•nts Shares in 8ubsidlary Mlddl•lon G•rd•n• Ltd Cost Ordlnary shares of £1 % Holdlng 100V• Middleton Gafdens Umlled 16. Stock Group Char6ty 2024 2023 2024 2023 Slod( 170 875 16. D•btorn: amounts falllng due wlthln one year Group Charlty 2024 2023 2024 2023 Trade debtors Prepayments and attrued income Other Amounts owed from group undertakings 28.412 109.497 6,576 33,￿3 79,528 389,570 11,846 109,497 6,578 84.546 27,994 79.528 389,571 96,316 144,485 502,461 212 465 593.409 P•gt 27

The Natlonal Botanlc Gafden ol Wal•8 Notes to the Con$olidatefl Flnanclal Statements - ¢ontlnued for tho Year Ended 31 March 2024 17. Creditors: amounts lalllng du• wlthln one y•ar Group Charlty 2024 2023 2024 2023 Trade creditors Social security and olher taxes other Creditors Loan Accruals and deferred income 380.577 399 8,911 13,000 138.588 798.792 31,697 204 19,225 201735 327.179 399 793,822 31,697 205 19,225 195.591 13,000 123.853 541,475 1.051.653 487,431 986,540 17. Credllorn: amounts falllng du• wllhln on• y•ar- ¢ontlnu•d Movement In dolerrod Income 2024 2023 Balance at the start of the reporting period Amounts added in current period Amounts released to income from previous period Balance at the end of the reporting period 8,348 7,250 {8.348} 7,250 40,040 34,511 (66,203) 18. Credltors: amounts falllng due after more than one year 2024 2023 Loans (see note 19) Other Ciedilor$ 39,000 55,000 42.CQO 55.000 Loans included in the above include £39,000 {2023.' £55,000) due to We15h Government which Is due to be repaid in 2027 and has no interest attached to IL Page 28

The Natlonal Botanle Garden of Wales Notes to the Consolidated Flnan¢lal Statements - contlnued for the Year Ended 31 March 2024 19. Leaslng agreements Minimum lease payments undèr nonpcancellable operaling leases fall due 88 follows.. 2024 2023 Wthin one year Behveen one and fwe years In more than five years 13,576 9.365 98,859 A legal mortgage is in place on the company's freehold land and 18a58hold buildings in favour of The 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 Facillties Limited also have le9al charges over part of the leasehold and freehold land of the company. NatWe$t Bank has a registered debenture, but there ar8 ¢urrently no borrowings outstanding. Total 2024 Total 2023 Amount secured is estimated lo be.. 18 780 514 19758958 The garden entered inlo a legal charge in 2018 with The National Lottery Heritage Fund to secure all monles and liabilltie8 oV￿d to it at any one time, up to £3.6m. Page 29

The Natlon41 Botan1¢ Garden of Wale8 Notes to the Consolldated Flnanclal Statements- contlnued for the Year Ended 31 March 2024 20. Movem•nt In funds Net Transfers movement bètweèn In funds funds At 31.3.24 At 1.4.23 Unr•8trletsd fund8 General fund General Fund- Designated 7,107,459 205.456 36.012 7.348,927 200.000 7,307,459 205.456 36.012 7,548,927 Re8trl¢ted funds Apprenticeship Schern8 Caru Natur Cymrul Biophilic Wales Project Archives Fund Fixed Asset Fund Flourish Fund Granlscape Growing the Future Poslcode Lottery Regency Restorallon Leader 2022 Feasibility Study {sculpturel National Afborelum for Wales Conserving Welsh Plants Dynamic Collects'ons Sustainable Communilles Fund Quentln Kay Student Scholarshlp Heritage Officer Fund 70,499 10,708 {65.4531 (9.870> 5.046 (838) 105 19,758.958 1.918 19,9801 137,755) 4.459 196,666 113,507) 19,000 {17,725} 20,000 (294) (810.4921 {1,7291 10.005 13,728 (1.2891 (218.153) 13,377 (19,000) {8.100) 189 (167.952) 18.780.514 189 (26) 24.027 (1.247) 89,359 1.943 67.872 1130) {25.825) 20,000 1,075 3,295 92.999 1,075 3,295 92.998 20 475) 20.003346 18946977 1020.357 TOTAL FUNDS 27,310.805 (814,901) 26,495.904 Page 30

The Natlonal Botanic Garden of Wales Notss to the Consolldated Financial Statements - Contlnued for the Year Ended 31 March 2024 20. Movement In lund$ - ¢ontlnu•d Net movement in funds, induded in the ai)ove are as follows: Intomlng resources Resourc•s Movement expendèd In lunds Unr•slrlct•d funds General fund 3.988.784 (3,783,328) 205,456 R•8trl¢ted fund$ Apprentlceshlp Scheme Canj Natur Cymrul Biophilic Wales Project Archives Fund Fixed Asset Fund Flourish Fund Granlscape Growing the Future Poslcode Lottery Regency Restoration Leader 2022 Feaslbility study Isculplure) Nationgl Arboretum for Wales Dynamic Colle¢tions Suslainable Communities Fund Quentin Kay Student Scholar8hlp Heritage oifi¢er Fund 52,750 568 (118.2041 (10,438) 1294) 200.000 {1.010.4921 {1.729) {65,453) {9,870) (2941 1810,492) 11,729) 10.005 13,728 (1.289) (218.153) 13,377 (19,000) (8.100) 1,075 3,295 92,998 10,005 13,728 (1,269} (218,153) (130) (19,000} 18.1001 (40.1551 (23,197) {7,002) 13,507 41,230 26.492 100.000 1020 357 TOTAL FUNDS 4,447,064 {5,261,V)51 1814,901) Page 31

Tho Nallonal 8otanlc Garden of Wa1•8 Notes to the Consolldated Financlal Ststements - contlnued for the Year End•d 31 March 2024 Movement In funds- contlnued Comparalives for movement In funds Not movement In funds Transfers between funds At 31.3.23 At 1.4.22 Unmtrlcted fund• General fijnd General Fund- Designated Propety Asset Development fund Proie¢l D￿elOPMent Fund 5,797,728 125,000 54.835 (6,316) 1,316,047 75,000 (54.835> 7,107,459 200,WO 6,072,728 {6,316) 1,241,047 7,307,459 Restrfcted funds Apprenb'ceship Scheme 8nlliant Basic Fund Caru Natur Cymrul Blophih'c Wales Project Archives Fund Fixed Asset Fund Flourish Fund Grantscape Growing the Future Postcode Lottery Regency Restoration Sustainable Management Scheme Leader 2022 Feasibility Study (sculpturè) National Arboretum for Wales Conserving Welsh Plants 104,595 15,493 150.204 (35,492> 12.077 (135,492) 1,396 (27.5701 (4,004) 70,499 10,708 105 278,038 {10,400} 18.681) 156,961) {7,101) 133,958 (43.3371 {18,163} 19,000 (17.7251 105 <1,309.112) 19,758,958 1,918 {9,980) (37,755) 4,459 196,868 20,790,032 12,318 (1.916> 54,738 12,959 (134,254) 110.398 617 {35,S32> {1,399) 196,962 (67.0811 4,858 113.507) 19,000 117.7251 20.000 21 114587 1241 047 129 826 ￿ 20 003 346 TOTAL FUNDS 27,183,141 123,510 27,310,805 Page 32

The Natlonal Botanlc Garden of Wales Notes to the Consolldaled Flnan¢lal Statements - contlnued for the Year Ended 31 March 2024 20. Compardtlves for movement In funds- eontlnued Comparative net movement In lunds, included in Ihè above afe as follows.. Incomlng Movoment resour¢06 Resources •xpond•d In lund8 Unrestrleted funds General fund 3,673.548 {3,679,864) (6,318} Restrfcted funds Apprents'ce6hip Scheme Brillianl Baslc Fund Caru Natur Cyrnrul Biophllic Wales Project Archives Fund Fixed Asset FurKI Flourish Fund Grantscape Growng the Future Postcode Lottery Regency Resloration Sustainable Management Scheme Leader 2022 Feasibility Study {sculpts&re) National Arboretum for Wales Con$ervin9 Welsh Plant$ 26.200 14,852 185.1x1) 1,000 1,325.IXIO (61,692) 12,775) {50,431) (895) (1.046.962} 110,400) (8,681) 1198,053) {7,101) {107,356} (35,492> 12,077 1135,492) 105 278,038 110,400) (8,681) 156,961) (7,101) 133.958 {43,337} {18,163} 19,000 (17.725) 139.092 241.314 (43,337> (18,1631 19,000 (17,725) 1658.060 1.528 234 TOTAL FUNDS 5,331,608 (5,208,098) 123,510 20. Movement In lund$- conllnued Apprentleè8hlp Schem• - Thls scheme funds apprentlceship placements for hortlcultural tralnees. It is supported by a combination of private donations and the Nats'onal Garden Scheme. Caru Natur Cymru'l8lophlllc Wal•8 ProlKt- Our'caru Natur Cymru'lBlophilic Wale8 project ceased in March 2022 but was extended for a year with funds from the Swansea Bay Universty Health Board. It aimed to increase the well-being of people. biodiversity and the environment within the health board area oreating nature themed green 8pa¢es. Ar¢hlves fund This represents donations re¢eNed to support the maintenance of the Garden's archive and volunteer archives group. Flxed Asset Fund . The purpose of these funds is described under the accounting policy 'ACe￿u￿ting forcaprtal grants and fixed asset funds,. Restricted fixed asset fund relates to the purchase, development and maintenance ofihe bolani¢ garden. The Millennium Commission supported the project by approving grants for £22.3m and the European Regional Development Fund by £6.3m. The Welsh Govemment (induding funds from Welsh Development Agency and Wales Tourist Board) also provided restricted 9rant funding of£4.8m. Flourlsh Fund This award from the RHS helped to build on our existing education. training and apprenticeship opportunities. in part¢cular developing a new pathway into our horticulture apprenticeship scheme whilst linking with new and diverse audiences. Pa9e 33

Th• Natlonal Botanlc Garden of Wale• Notes to tho Consolldated Flnan¢lal Statements - contlnued for thè Y•ar Ended 31 March 2024 20. Movement In funds - contlnuod Grantscape This grant is from Welsh Govemment 's Landfill Disposal Tax Communty Scheme 2021>21 and ￿11 enable the Garden to improve the condition of its hay mèadow habitat on the Waun Las National Nature Reserve and showrase how nature and farming can work in hamony. Growlng Ihe Future Th18 Is a flvfryear Wlelsh Government Rural Communities Rural Oevelopment Programme 201￿2020 project designed to promote Welsh horticulture, plants for pollinators, protecb'on of wldlife and the virtues of growing food for health and well-being. It is funded by the European Agricultural Fund for Rural Development and Welsh Government. Postcode Lottery- This project supports the delivery of horticultural and outdoor courses for health and well-being as part of our education programme. Regency Restoratlon ~ This 7 year-long project restored the Garden's historic parkland to tts original 19th century Regenvi waterpark landscape and wa8 completed in June 2022. The Garden now featur88 a nethlace of seven lakes. cascades, falls and weirs created more Ihan 21)) years ago, together with Regency planting scheme which formed the heart of its parkland. It was funded by the Heritage Lottery Fund, Garfield Weslon Foundation. Monument Trust. The M8rc8rs' Company. Welsh Govemment. Esmee Fairbairn Trust, Patsy Wo¢)d TrusL The Waterloo Foundation and other 9enerous donations. The balance of the fund aims to support the management and maintenance of the area and employ a heritage officer to 88feguard the hi$tori¢ a$￿ts of the Garden. Ltad•r 2022 - The objective of this 12-rnonth L84DER funded project was to pilot the use of digital techr￿lOgY in the form of GIS (Geographical Information Systems) resources to help support tourism in the Tywi Valley. F•aÉlblllty Study- Th16 study alms to establish the feaslbi1Sty of establlshing a Gculpture trail within the Garden, lunded by the Mosawi Foundati¢)n, CoNvinslon Charitable Trust and Waterloo Foundation. Natlonal Arborètum for Wale61Coedfa Genedlaethol Cymru- This project aims to creale a nalionally Important arboretum that engages with all visitors. inspires new communllies and audiences and delivers a key learning and conserrfation resource. A fundraising campaign will support the delivery of thi8 major project, vthich will take several years to wnplete. Conservlng Welsh Plants - This represents a donatlon received to enhance our Conserving Welsh Plants display. Dynamlc Collectlons The Plants Past Present and Future project is a £250.000 >year National Lottery Heritage Fund project funded through their Dyn8miG Collections Scheme (202*261. The project alms to curate, di9ilise and engage on the Botanic Garden's he￿ariuM of pre8s8d plants. opening up the Collection to new audiences and revealing untold stories. Sustalnable Communltles Fund Shades ol Green project plans to work 8cro$s the Hywel Dda University Health Board IHDUHBI estate and create focal F)oints for community ctrdeveloped green infrastructure projects. The sites wll surround hospitals, health-centres, mental health and residential facilibes. The project plans to develop an integrated mosai¢ of green space that reflects the health and wellbein9 needs of pab'ent ￿hortS, staff groups and communty partners associated with HDUHB and its Camarthenshire estate. Quentin Kay Student S¢holarshlp - The bequest from the estate of Prof Quentin Kay is SUPF)Orting the Botanic Garden's work on the conservation of the Welsh flora, through the research and seed banking of some of our mosl Ihreatened plant species. The new role of Research and Colledions Assistsnt created via this fund has supported an early career ecologist to develop new skills. Tf&nsler8 relate lo capital movement on the fixed asset fund ¢omprislng Testricted fund capital expenditure and other items allocated to unrestricted funds. Page 34

Tho Natlonal Botanlc Garden of Wales Nole8 to th• Consolldated Flnanclal Stalements - contlnued for tho Y•ar Ended 31 March 2024 Movement In funds - continued D•61gnat•d Fund• G•neral fund- thls fund has been set aside to meet additional costs arising from the cost of Ilvlng crisis. Project development fund -this was established In order to meet the costs of fvture feasibilty studies, provide initial project seed money. in¢luding providing match funding for new andlor ongoing project& As al 31 March 2024, this fund was ulilised and no longer requlred. Property ass•t development fund - this was created to contribute toward$ planned capital infrastructure costs with an aim of improving the facilty andlor increasing commercial returns. As at 31 March 2024. this fund was utilised and now not required. 21. Employ•e b•n•llt obllgatlon8 The charity operates a defined contribution penslon scheme lor all qualifying employees. The 886ets of the scheme are held separately from those of the charty in an independently administered fund. Pension ¢o$l$ are allocated to arlivities in proportion to the related staffing costs incurred. The charge to the profrt or1088 in respect ol defined contribution schemes was £73,616 (2023.. £71,095). There were no amounts outstanding as at 31 March 2024,12023: £ nil). 21 Ultlmat• ¢ontrolllng party The charfty is under the rAntrol of Its legal members. Every membèr ol the charity is obliged lo contribute such amount as may be required not exceeding £1 to the assets of the company in Ihe event of its being wound up while he or she is a member, or thin one year after he or she ceases to be a rnember. R•¢on¢lllatlon ol n•1 Incomell•xp•ndltur•) to ntl ¢••h flow frnm op•r•tlng aetlvlll•a 2024 2023 Net Incomel(expendltUM) for the roportlng perlod las por the Statement of flnanelal actlvltles Adlustments for: Depreciation charges Lossllgain on disposal) Decrease l (Increase) in stock Decrease l {IncAeasel in debtors (Decrease) I Increase in creditors Dividends and interest 1814.901) 123,510 1,004.421 1.006,996 32.748 {46,278) {61.324) 25.218 {11.030) 8,506 357,976 (506,950) (23,172) Net cash provided by (used In} operating activitie$ 25,877 1,069,840 24. Analysls of changes In net funds At 1.4.23 Cash flow At 31.3.24 Net cash Loarbs Cash at bank {74,225) 1.394 690 19.225 {251,153 (55.000} 1 143 537 Total 1.320,465 {231,928) 1,088,537 Page 35