Registered number: 03006258 Charity number: 1044931
CASTLE HOWARD ARBORETUM TRUST
(A Company Limited by Guarantee)
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022
CASTLE HOWARD ARBORETUM TRUST
(A Company Limited by Guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 -5 |
| Independent Examiner’s Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 - 23 |
CASTLE HOWARD ARBORETUM TRUST
(A Company Limited by Guarantee)
TRUSTEES’ REPORT FOR THE YEAR ENDED 31 JANUARY 2022
Trustees
Mr Greville Worthington, Chair[2] The Hon. Nicholas Howard[1] Mrs Jane Ingham[1] Mrs Julia Willison[3 ] (Appointed 01/06/2022) Mr Tony Kirkham[3 ] (Retired 01/06/2021) Professor Nicola Spence[2] Mr Michael Sturge[2] Mrs Victoria Howard[1] Dr Helen Crews[2] Mr Christopher Bridge[2 ] Mr Richard Hallam Barley[3 ] Professor Ian Graham[3] (Appointed 01/01/2023) Dr Alan Suggett[2] Professor Sue Hartley[3 ] (Retired 01/06/2021)
-
1 Castle Howard Estate Ltd representative
-
2 Independent representative
3 Royal Botanic Gardens Kew representative
Company registered number
03006258
Charity registered number
1044931
Registered office
The Estate Office, Castle Howard, York, YO60 7DA
Company secretary
Mr Michael Sturge
Chair
Mr Greville Worthington
Independent examiner
Laura Masheder FCA DChA, BHP LLP, Rievaulx House, 1 St Mary's Court, Blossom Street, York, YO24 1AH
Bankers
CafCash, 25 Kings Hill Avenue, West Malling, Kent, ME19 4JQ
Solicitors
Crombie Wilkinson, Forsyth House, 3 Market Pl, Malton, YO17 7LP.
Page 1
CASTLE HOWARD ARBORETUM TRUST
(A Company Limited by Guarantee)
TRUSTEES’ REPORT FOR THE YEAR ENDED 31 JANUARY 2022
The Trustees present their report and the financial statements of the charity for the year ended 31 January 2020. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019.
Since the charity qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.
Objectives and Activities
a. Policies and objectives
The Trust was founded in 1997. Its prime purpose is the curation of its extensive botanical collections for the purpose of dendrology, botanical science, education and conservation. In 2017 a Strategic Plan 2018-22 was adopted that sets out the vision for the Trust’s work and activities over a five year period. It states that:
Our mission is to grow the widest possible range of trees for conservation, for education, for people and for inspiration.
The mission is encapsulated in our motto: Inspiration, Education, Conservation.
Our vision is to be one of the finest collections of temperate trees set in a rich and attractive landscape.
The tree collection in the Yorkshire Arboretum and the garden in Ray Wood is overseen by the Director. In 2021-22 the collection was maintained by two full time Operations Team employees and a full-time Collection Manager. The Collection Manager is also responsible for activities in the satellite garden in Ray Wood.
The Trust maintains an electronic catalogue of its collection, which is available to search online in conjunction with an interactive map.
Further information on the Trust can be found at www.yorkshirearboretum.org.
Achievements and performance
a. Financial review
Income for the year totalled £426,359 (2021 £675,721), after expenditure of £362,743 (2021: £360,623) the surplus before revaluations was £63,616 (2021: £315,098), after gains/(losses) on investments of £37,650 (2021: (£2,807)) there was an overall surplus for the year of £101,266 (2021: £312,291), resulting in total funds carried forward of £1,821,970 (2021: £1,720,704). Unrestricted funds carried forward were £1,602,682 (2021: 1,501,506). Restricted funds carried forward were £68,882 (2021: £87,041). Endowment funds carried forward were £150,406 (2021: £132,157).
Page 2
CASTLE HOWARD ARBORETUM TRUST
(A Company Limited by Guarantee)
TRUSTEES’ REPORT FOR THE YEAR ENDED 31 JANUARY 2022
Achievements and performance - continued
b. Achievements and performance
In 2021-22 the Trust continued to manage and improve the grounds and collection in both the Yorkshire Arboretum and Ray Wood, and pursued an active programme of education for all ages.
Covid restrictions in place in the early part of the year meant that the arboretum reopened after the extended winter closure period on 20 March, with appropriate covid safety measures in place. Full reopening of the Visitor Centre and Café occurred in May and no further restrictions were imposed, meaning that normal activities could proceed for the rest of the year. Despite the initial period of closure admissions for the year were excellent, with 35,000 visits (including membership visits), setting a new record. Membership recruitment was also excellent.
Advantage was taken to reduce staffing costs during the covid restriction period by use of the Government’s furlough scheme, which saw most staff reduce their hours for a period. Recruitment resumed in summer. Volunteering effort remained strong, with new (voluntary) Volunteer Coordinators being a great assistance. Volunteering covers all aspects of the Trust’s activities, from furniture renovation to sponsorship coordination, but is especially important in the curatorial side of our work. Volunteer teams work with staff each day of the week.
Much volunteering effort throughout the year was taken up in the construction of the Red Squirrel Enclosure, a project that forms part of the arboretum’s tree health initiative. Placed on hold in 2020, it became apparent that quotations received in 2021 were no longer valid and new quotes were beyond budget. The decision was taken to build it in house and work progressed through the year and into 2022.
Construction of the Peter Sowerby Building was completed during the year. The office was occupied in April and the building was formally opened in September by Helen Simpson, Chair of the York and North Yorkshire LEP. Exhibits on tree health subjects were provided by Defra, APHA, Forestry Commission, Forestry England and Observatree and remained in place for a week of tree health related activities, including lectures, guided tours and an activity trail. A pilot programme of tree health related courses was held in the late summer and autumn and were well received.
A highlight of the autumn was a three-day visit by the International Dendrology Society, whose Council met in the Peter Sowerby Building for a hybrid in person/Zoom meeting. They toured the arboretum and Ray Wood next day and held a tree pests and diseases study day.
Plant virologists and nematologists from Fera Science Ltd visited during the autumn to collect samples, and research into froghopper movements continued through the season. The local Forestry Commission Tree Health Officer visited in December to collect samples from diseased trees in the arboretum, avenue and Ray Wood. Research into Grey Squirrel feeding behaviour was undertaken by scientists from APHA.
A number of art exhibitions were held, and an anthology of verse about the arboretum was published. Art classes and nature walks were well attended, and garden talks were given in person and by Zoom. The Open Gardens programme was well received and contributed useful funds.
In September the retirement of Tony Kirkham as trustee was marked with a dinner held at Castle Howard. As long-term Liaison Officer for RBG Kew and then as trustee (representing RBG Kew) Tony made a significant contribution to the arboretum’s development for nearly 25 years.
Curatorial notes
The generally mild winter was punctuated by very cold wind in February, while March was mild to warm, prompting much early growth. Winter came in April, with 27 nights of air frost in the month, with several records of -6 or -7[o] C. There was a great of damage to new shoots and open flowers, and some normally hardy shrubs in the Woodland Garden were killed outright. May was frost-free and there was useful rainfall, enabling plants to grow out strongly; generally warm temperatures and regular rain ultimately made 2021 the best growing season for several years.
Page 3
CASTLE HOWARD ARBORETUM TRUST
(A Company Limited by Guarantee)
TRUSTEES’ REPORT FOR THE YEAR ENDED 31 JANUARY 2022
Autumn storms caused some damage in both the arboretum and Ray Wood requiring a lot of effort by staff, volunteers and contractors to clear up. Disease in Sweet Chestnuts in Ray Wood was of concern and is under investigation by the Forestry Commission and Forest Research.
Measurements of trees (height and girth) have confirmed that the collection holds a significant number of national (94) and North Yorkshire champions (257), the largest of their kind by height and/or girth. Some headline collection statistics are:
-
There are over 10,000 live individual plants in the collection 20% of which have been collected in the wild.
-
The collection represents 1850 species of woody plants within 100 different families and 332 genera.
c. Plans for future periods
Development of an active Tree Health Training Programme and completion of the Red Squirrel Enclosure are the Trust’s development priorities for 2022 and beyond. They are expected to contribute to Trust revenue as well as delivering a strong educational message.
A Strategic Plan for 2023-28 will be developed in 2022.
A new planting, as part of the Queen’s Green canopy initiative will be made in 2022.
d. Investment policy and performance
The charity's Investment policy has two components:
i) funds which may be required for expenditure within the next three years are held in deposit instruments which may be realised at short notice without capital loss; and
ii) funds which are held for the medium to long term in a balanced portfolio of equities and bonds which seeks to achieve capital growth without undue risk, and also to provide a sustainable income to support the Arboretum's operating costs.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
b. Reserves policy
The Trustees' objective is that reserves should not fall below the level of 9 months recurrent expenditure which, on the basis of current expenditure levels, gives a minimum level of required reserves of £325,000, although they are prepared to accept a short-term reduction to this sum whilst fund raising campaigns take place. At the year end, the free reserves of the charity equated to £279,893 (2021: £342,881).
Page 4
CASTLE HOWARD ARBORETUM TRUST
(A Company Limited by Guarantee)
TRUSTEES’ REPORT FOR THE YEAR ENDED 31 JANUARY 2022
Structure, governance and management
a. Constitution
The charity is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association in June 1997
The charity is constituted under a Memorandum of Association dated June 1997 and is a registered charity number 1044931.
The principal object of the charity is the curation of its extensive botanical collections for the purposes of dendrology, botanical science, education and conservation.
b. Method of appointment or election of Trustees
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association. Rights of nomination exist for an independent Chair and equal numbers of Trustees as between Castle Howard Estate Ltd and the Royal Botanic Gardens, Kew. Three Trustees have been appointed by each and six Trustees are independent of those bodies and have been appointed by the Trustees.
c. Policies adopted for the induction and training of Trustees
New Trustees are given a tour of the Arboretum and meet with staff. They also meet with the Chair of Trustees. They receive papers such as the business plan, budget and latest annual accounts, together with the charity's Memorandum and Articles of Association.
d. Public benefit
The Castle Howard Arboretum Trust continues to maintain and extend its nationally important hardy wood reference collections using primarily wild source material as a complement to the National Collections at the Royal Botanic Gardens, Kew and Wakehurst Place and other collections in the UK. In doing so it also makes these collections available to the public, and visitor numbers are growing year on year.
We seek to ensure the scientific integrity of the records and to encourage the wider use of the collection for science and conservation and to develop its educational and information services. The outdoor education programme to extend the use of the arboretum by schools and to share the experience of such environmental education with a wide range of other users has been particularly successful.
This report was approved by the Trustees and signed on their behalf by:
……………………………………… Mr Greville Worthington Trustee and Chair
Date: 30-Jan-2023
Page 5
CASTLE HOWARD ARBORETUM TRUST
(A Company Limited by Guarantee)
INDEPENDENT EXAMINER’S REPORT FOR THE YEAR ENDED 31 JANUARY 2022
Independent Examiner's Report to the Trustees of Castle Howard Arboretum Trust (the 'charity')
I report to the charity Trustees on my examination of the accounts of the charitable company for the year ended 31 January 2022.
Responsibilities and Basis of Report
As the charity trustees of the company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.
I have completed my examination. I can confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Laura Masheder
Laura Masheder (Jan 30, 2023 13:47 GMT)
……………………………………… Laura Masheder FCA, DChA
30-Jan-2023 Date:
BHP LLP
Chartered Accountants Rievaulx House 1 St Mary's Court Blossom Street York YO24 1AH
Page 6
CASTLE HOWARD ARBORETUM TRUST
(A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (incorporating the income and expenditure account) FOR THE YEAR ENDED 31 JANUARY 2022
| Note Income and endowments from: Donations and legacies 2 Charitable activities 3 Investments 4 Other income 5 Total income and endowments Expenditure on: Raising funds 6 Charitable activities 10,7 Total expenditure 8 Net income/(expenditure) before investment gains/(losses) Net gains/(losses) on investments Net income / (expenditure) before transfers Transfers between Funds 17 Net income / (expenditure) before other recognised gains and losses - Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2022 £ 121,000 116,366 8,906 18,591 |
Restricted funds 2022 £ 161,496 - - - |
Endowment funds 2022 £ - - - - |
Total funds 2022 £ 282,496 116,366 8,906 18,591 |
Total funds 2021 £ 560,566 78,925 9,078 27,152 |
|
|---|---|---|---|---|---|---|
264,863 |
161,496 |
- |
426,359 |
675,721 |
||
8,552 284,878 |
- 69,313 |
- - |
8,552 354,191 |
4,029 356,594 |
||
293,430 |
69,313 |
- |
362,743 |
360,623 |
||
(28,567) 19,401 |
92,183 - |
- 18,249 |
63,616 37,650 |
315,098 (2,807) |
||
(9,166) 110,342 |
92,183 (110,342) |
18,249 - |
101,266 - |
312,291 - |
||
101,176 101,176 1,501,506 |
(18,159) (18,159) 87,041 |
18,249 18,249 132,157 |
101,266 101,266 1,720,704 |
312,291 312,291 1,408,413 |
||
1,602,682 |
68,882 |
150,406 |
1,821,970 |
1,720,704 |
The notes on pages 9 to 23 form part of these financial statements.
Page 7
CASTLE HOWARD ARBORETUM TRUST
REGISTERED NUMBER: 03006258
(A Company Limited by Guarantee)
BALANCE SHEET AS AT 31 JANUARY 2022
| Note Fixed assets Tangible assets 13 Investments 14 Current assets Debtors 15 Cash at bank and in hand Creditors:amounts falling due within one year 16 Net current assets Creditors:amounts falling due after more 17 than one year Net assets Charity Funds Endowment funds 18 Restricted funds 18 Unrestricted funds 18 Total funds |
£ 54,343 151,228 |
2022 £ 1,322,789 357,280 1,680,069 183,026 |
2022 £ 1,322,789 357,280 1,680,069 183,026 |
£ 66,951 191,075 |
2021 £ 1,158,625 319,630 |
|---|---|---|---|---|---|
1,478,255 242,449 |
|||||
205,571 (22,545) |
258,026 (15,577) |
||||
(41,125) 1,821,970 |
(41,125) |
- 1,720,704 |
|||
| 150,406 68,882 1,602,682 |
132,157 87,041 1,501,506 |
||||
1,821,970 |
1,720,704 |
The charity's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The Trustees consider that the charity is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the charity to obtain an audit for the year in question in accordance with section 476 of the Act.
The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf, by:
………………………………………
Mr Greville Worthington (Trustee & Chair)
30-Jan-2023 Date:
The notes on pages 9 to 23 form part of these financial statements.
Page 8
CASTLE HOWARD ARBORETUM TRUST (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022
1. Accounting Policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.
Castle Howard Arboretum Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2 Company status
The charity is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity.
1.3 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees 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 with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Endowment funds represent those assets which must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund. Investment management charges and legal advice relating to the fund are charged against the fund.
Investment income, gains and losses are allocated to the appropriate fund.
1.4 Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Page 9
CASTLE HOWARD ARBORETUM TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022
1. Accounting Policies – continued
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated to the applicable expenditure headings.
Irrecoverable VAT is charged against the expenditure heading for which it was incurred.
Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.
Charitable activities and Governance costs are costs incurred on the charity's educational operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.
1.6 Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost.
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Long-term leasehold property | - | 50 years |
|---|---|---|
| Plant and machinery | - | 5 years |
| Office/Workshop | - | 50 years |
| Tree Health Centre | - | 100 years |
| Other | - | 3 years |
Assets under the course of construction are not depreciated.
1.7 Heritage Assets
An independent Charitable Trust was formed in June 1997 by joint agreement between Castle Howard and the Royal Botanic Gardens Kew to oversee the curation of the extensive collections of woody plants held in both the Arboretum and in the woodland garden of Ray Wood at Castle Howard which is situated within the Howardian Hills Area of Outstanding Natural Beauty.
The Trust holds a 99 year lease dated 23rd June 1997 with regards to the Arboretum and a licence to manage Ray Wood.
Trustees consider the plant collection has inestimable value for environmental conservation, scientific research, education and also public enjoyment. To value these assets would not only involve very considerable expense but conventional valuations would, in certain cases, lack sufficient reliability. Even if reliable valuations could be obtained, the Trustees consider that the cost would be wholly disproportionate to any likely benefit to the Trust or to other users of the accounts. Accordingly. the Trust does not recognise heritage assets on its Balance Sheet and no value is placed on these assets.
Maintenance and curation costs:
These are charged and reported in the accounts under Charitable Activities by fund type in the year they are incurred.
Further information is given in the accounts.
Page 10
CASTLE HOWARD ARBORETUM TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022
1. Accounting Policies – continued
1.8 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless fair value cannot be measured reliability in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading ‘Gains/(losses) on investments’ in the Statement of Financial Activities.
1.9 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
1.10 Cash at Bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
1.11 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.
1.12 Employee benefits
The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.
When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
1.13 Critical accounting estimates and areas of judgment
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Page 11
CASTLE HOWARD ARBORETUM TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022
2. Income from donations and legacies
| Wespelaar Donations Gift Aid Peter Sowerby Foundation (THC) Prince of Wales Grant IDS Grant Tree Adoptions LEP – Local Growth Fund (THC) Membership Total 2021 |
Unrestricted funds 2022 £ - 18,246 27,004 - - 10,000 20,750 - 45,000 121,000 87,020 |
Restricted funds 2022 £ 15,000 - - 50,000 73,903 - - 22,593 - |
Endowment funds 2022 £ - - - - - - - - - |
Total funds 2022 £ 15,000 18,246 27,004 50,000 73,903 10,000 20,750 22,593 45,000 |
Total funds 2021 £ 15,850 102,192 15,070 108,869 - 10,000 9,500 260,252 38,833 560,566 |
|---|---|---|---|---|---|
| 161,496 | - |
282,496 |
|||
| 473,546 | - |
560,566 |
3. Charitable activities
| Charitable activities | |||||||
|---|---|---|---|---|---|---|---|
| Arboretum - entrance fees Education - education income Events and other income Tree Health Centre Income Total 2021 |
Unrestricted funds 2022 £ 104,936 1,594 7,481 2,356 |
Restricted funds 2022 £ - - - |
Endowment funds 2022 £ - - - |
Total funds 2022 £ 104,936 1,594 7,481 2,356 |
Total funds 2021 £ 78,060 708 157 |
||
| 116,367 | - | - | 116,367 | 78,925 | |||
| 78,925 | - | - | 78,925 |
Page 12
CASTLE HOWARD ARBORETUM TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022
4. Investments
| Investment income (listed investments) Interest on Loan Investment income (cash) Total 2021 |
Unrestricted funds 2022 £ 8,273 625 8 |
Restricted funds 2022 £ - - - |
Endowment funds 2022 £ - - - |
Total funds 2022 £ 8,273 625 8 |
Total funds 2021 £ 8,245 625 208 9,078 |
|---|---|---|---|---|---|
| 8,906 | - |
- | 8,906 | ||
| 9,078 | - |
- | 9,078 |
5. Other income
| Miscellaneous income HMRC Job Retention Scheme Total 2021 |
Unrestricted funds 2022 £ 2,118 16,473 |
Restricted funds 2022 £ - - |
Endowment funds 2022 £ - - |
Total funds 2022 £ 2,118 16,473 |
Total funds 2021 £ - 27,152 |
|---|---|---|---|---|---|
| 18,591 | - |
- | 18,591 | 27,152 | |
| 27,152 | - |
- | 27,152 |
6. Raising funds
| Raising funds | |||||
|---|---|---|---|---|---|
| Donations, fundraising, grants & membership costs Total 2021 |
Unrestricted funds 2022 £ 8,552 |
Restricted funds 2022 £ - |
Endowment funds 2022 £ - |
Total funds 2022 £ 8,552 |
Total funds 2021 £ 4,029 |
| 4,029 | - |
- | 4,029 |
Page 13
CASTLE HOWARD ARBORETUM TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022
7. Analysis of expenditure on charitable activities
| Arboretum Ray Wood Education Tree Health Centre Visitor Centre Governance Costs Total 2021 |
Unrestricted funds 2022 £ 180,147 7,518 8,590 13,774 72,549 282,578 2,300 284,878 284,621 |
Restricted funds 2022 £ 22,978 - - 46,335 - 69,313 - 69,313 71,793 |
Endowment funds 2022 £ - - - - |
Total funds 2022 £ 203,125 7,518 8,590 60,109 72,549 |
Total funds 2021 £ 262,776 15,398 17,969 - 59,347 |
|---|---|---|---|---|---|
- - - |
351,891 2,300 354,191 |
355,490 1,104 356,594 |
|||
- |
356,594 |
8. Analysis of Expenditure by expenditure type
| Expenditure on raising voluntary income Costs of raising funds Arboretum Ray Wood Education Visitor Centre Tree Health Centre Charitable activities Expenditure on governance Total 2021 |
Staff costs 2022 £ 4,571 |
Depreciation 2022 £ - |
Other costs 2022 £ 3,961 |
Total 2022 £ 8,552 |
Total 2021 £ 4,029 |
|
|---|---|---|---|---|---|---|
| 4,571 | - | 3,961 | 8,552 |
4,029 | ||
150,810 6,627 7,544 28,014 33,802 |
24,644 - - - 13,774 |
21,756 874 1,027 44,377 18,642 |
197,210 7,501 8,571 72,391 66,218 |
262,776 15,398 17,969 59,347 - |
||
| 226,797 | 38,418 | 86,675 2,300 |
351,891 |
355,490 | ||
- |
- |
2,300 |
1,104 |
|||
| 231,368 | 38,418 | 92,936 |
362,743 |
360,623 | ||
| 223,201 | 26,647 | 110,775 |
360,623 |
Page 14
CASTLE HOWARD ARBORETUM TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022
9. Analysis of expenditure by activities
| Analysis of expenditure by activities | ||||||
|---|---|---|---|---|---|---|
| Arboretum Ray Wood Education Tree Health Centre Visitor Centre Total 2021 Analysis of support costs Wages and salaries Postage and stationery Computer support, equipment and software Health and safety Bank charges Insurance Bookkeeping, payroll and accountancy Legal and professional fees Staff training Travel and expenses Marketing costs |
Activities undertaken directly 2022 £ 146,885 6,627 7,572 60,107 63,956 |
Support costs 2022 £ 50,325 874 999 6,111 8,435 |
Total 2022 £ 197,210 7,501 8,571 66,218 72,391 |
Total 2021 £ 262,776 15,398 17,969 - 59,347 |
||
285,147 |
66,744 |
351,891 |
355,490 |
|||
| 285,155 |
70,335 |
355,490 |
Total funds 2021 £ 35,688 2,167 3,886 3,399 4,522 3,431 1,695 7,462 984 1,059 6,042 70,335 |
|||
| Unrestricted funds 2022 £ 20,687 1,741 10,297 3,116 6,163 4,777 3,713 126 5,191 1,224 9,709 |
Total funds 2022 £ 20,687 1,741 10,297 3,116 6,163 4,777 3,713 126 5,191 1,224 9,709 |
|||||
| 66,744 | 66,744 |
10. Governance costs
| Governance costs | |||||
|---|---|---|---|---|---|
| Independent examination fee Trustees' expenses Total 2021 |
Unrestricted funds 2022 £ 1,500 800 |
Restricted funds 2022 £ - - |
Endowment funds 2022 £ - - |
Total funds 2022 £ 1,500 800 |
Total funds 2021 £ 1,350 (246) |
| 2,300 | - |
- | 2,300 | 1,104 | |
| 1,104 | - |
1,104 |
Page 15
CASTLE HOWARD ARBORETUM TRUST (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022
11. Net income/(expenditure)
This is stated after charging:
| Depreciation of tangible fixed assets: - owned by the charity Independent examination |
2022 £ 38,418 1,500 |
2021 £ 26,647 1,350 |
|---|---|---|
During the year, no Trustees received any remuneration (2021- £NIL).
During the year, no Trustees received any benefits in kind (2021 - £NIL).
1 Trustee received reimbursement of expenses in the year amounting to £800 (2021 - refunded £246).
12. Staff costs
Staff costs were as follows:
| Wages and salaries Social security costs Other pension costs |
2022 £ 233,276 14,893 9,566 |
2021 £ 237,733 13,276 9,802 |
|---|---|---|
| 257,736 | 260,811 |
The above costs include £36,705 (2021: £37,610) which was included in capital additions in relation to the building of the Tree Health Centre, leaving a net staff cost of £221,031 (2021: £223,201) in the cost of raising funds (note 8).
The average monthly number of employees was as follows:
| 2022 | 2021 |
|---|---|
| No. | No. |
| 13 | 12 |
No employee received remuneration amounting to more than £60,000 in either year.
Page 16
CASTLE HOWARD ARBORETUM TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022
13. Tangible fixed assets
| Cost At 1 February 2021 Additions At 31 January 2022 Depreciation At 1 February 2021 Charge for the year At 31 January 2022 Net book value At 31 January 2022 At 31 January 2021 |
Long-term leasehold property £ 380,620 - |
Plant and machinery £ 212,711 1,254 |
Office / Workshop £ 182,772 - |
Tree Health Centre £ 688,855 166,396 |
Projects £ 1,183 36,293 |
Other £ 1,360 |
Total £ 1,467,501 203,943 |
||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 380,620 105,832 9,404 |
213,965 182,987 11,857 |
182,772 20,058 3,383 |
855,251 - 13,774 |
37,476 - - |
1,360 1,360 |
1,671,444 310,237 38,418 |
|||||||
| 115,236 265,384 |
194,844 19,121 |
23,441 159,331 |
13,774 841,477 |
- 37,476 2,543 |
1,360 - |
348,655 1,322,789 - 1,158,625 |
|||||||
| 274,788 | 29,725 |
162,714 | 688,855 |
Page 17
CASTLE HOWARD ARBORETUM TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022
14. Fixed asset investments
| 14. Fixed asset investments |
|||||
|---|---|---|---|---|---|
| Listed securities Shares in group undertakings Total £ £ £ Market value At 1 February 2021 319,629 1 319,630 Disposals - - Revaluations 37,649 - 37,649 At 31 January 2022 357,279 1 357,280 Historical cost 218,622 1 218,623 Subsidiary undertakings The following were subsidiary undertakings of the company: Name Holding Arboretum Trust Trading Limited 100% The aggregate of the share capital and reserves as at 31 January 2022 and of the profit or loss for the year ended on that date for the subsidiary undertakings were as follows: Name Aggregate of share capital and reserves Profit/(loss) £ £ Arboretum Trust Trading Limited 27,777 27,526 15. Debtors 2022 2021 £ £ Trade debtors 1,961 - Amounts owed by group undertakings 35,435 32,905 Other debtors - 30,156 Prepayments and accrued income 16,947 3,890 54,343 66,951 |
Listed securities £ 319,629 - 37,649 |
Shares in group undertakings £ 1 - - |
Total £ 319,630 37,649 |
||
357,279 |
1 |
357,280 |
|||
| 218,622 | 1 |
218,623 |
|||
| 2022 £ 1,961 35,435 - 16,947 |
2021 £ - 32,905 30,156 3,890 |
||||
| 54,343 | 66,951 |
Amounts owed by group undertakings include £28,063 (2021: £26,813) which is due in more than 1 year, the terms of this loan are fully disclosed in note 22 to these Financial Statements.
Page 18
CASTLE HOWARD ARBORETUM TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022
16. Creditors: Amounts falling due within one year
| Trade creditors HSBC Loan Other taxation and social security (see below) Other creditors Accruals and deferred income Creditors: Amounts falling due after one year HSBC Loan Other taxation and social security PAYE/NI VAT |
2022 £ 2,750 8,874 7,710 1,710 1,501 |
2021 £ 7,218 - 5,369 1,635 1,355 |
||
|---|---|---|---|---|
| 22,545 | 15,577 | |||
| 2022 £ 41,126 |
2021 £ - |
|||
| 41,126 | - | |||
| 2022 £ 5,888 1,822 |
2021 £ 5,369 - |
|||
| 7,710 | 5,369 |
17. Creditors: Amounts falling due after one year
The HSBC Loan (which is a government guaranteed Business Bounce Back Facility) is repayable over a maximum of 5 years commencing 1 April 2022, interest is charged on the loan.
Page 19
CASTLE HOWARD ARBORETUM TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022
18. Statement of funds
Statement of funds - current year
| General Funds Endowment funds Howard Fund Howick Fund Restricted funds Tree Health Centre Capital Tree Heath Centre Business Red Squirrel Project Grey Squirrel Project Arborist Grant Total of funds |
Balance at 1 February 2021 £ 1,501,506 |
Income £ 264,863 |
Expenditure £ (293,430) |
Transfers in/out £ 110,342 |
Gains/ (Losses) £ 19,401 18,249 - |
Balance at 31 January 2022 £ 1,602,682 144,522 5,884 150,406 - 32,010 36,872 - - 68,882 1,821,970 |
|
|---|---|---|---|---|---|---|---|
126,273 5,884 |
- - |
- - |
- - |
||||
| 132,157 | - |
- | - | 18,249 | |||
(1,111) 41,393 36,211 9,697 850 |
72,593 36,952 36,951 - 15,000 |
- (46,335) - (7,978) (15,000) |
(71,482) (36,291) (1,719) (850) |
- - |
|||
| 87,041 | 161,496 |
(69,313) |
(110,342) | - |
|||
1,720,704 |
426,359 |
(362,743) |
- |
37,650 |
Endowment funds
The Howard Fund is capital given to provide income from interest to support the maintenance of the collections. The Howick Fund is capital given to provide income for the maintenance of the botanical collections
Restricted funds
Tree Health Centre Capital represents monies raised for the Tree Health Centre Project. Tree Health Centre Business monies raised for the running of the Tree Health Centre Red Squirrel Project represents monies raised for a capital Red Squirrel Project Grey Squirrel Project represents monies raised for a Grey Squirrel Research Project Arborist represents monies raised for carrying out arboreal works to the collection
Transfers out of restricted into unrestricted funds represents capital appeals where capital expenditure has been incurred and there is no ongoing restriction in the underlying use of the assets.
Page 20
CASTLE HOWARD ARBORETUM TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022
18. Statement of funds – continued
Statement of funds - prior year
| Statement of funds - prior year | ||||||
|---|---|---|---|---|---|---|
| Balance at 1 February 2020 £ General Funds 1,048,643 Endowment funds Howard Fund 134,130 Howick Fund 5,884 140,014 Restricted funds Tree Health Centre Capital 75,481 Tree Health Centre Business 73,533 Red Squirrel Project 36,211 Grey Squirrel Project 27,185 Ray Wood 7,346 Arborist - 219,756 Total of funds 1,408,413 |
Income £ 202,175 - - - 457,696 - - - 15,850 473,546 675,721 |
Expenditure £ (288,650) - - - - (32,140) - (17,488) (7,346) (15,000) (71,973) (360,623) |
Transfers in/(out) £ 534,288 |
Gains/ (Losses) £ 5,050 |
Balance at 31 January 2021 £ 1,501,506 |
|
- - |
(7,857) - |
126,273 5,884 |
||||
| - | (7,857) | 132,157 |
||||
| (534,288) - |
- - |
(1,111) 41,393 36,211 9,697 - 850 |
||||
| ((534,288) - |
- | 87,041 | ||||
| (2,807) | 1,720,704 |
Summary of funds - current year
| Balance at 1 February 2021 £ General funds 1,501,506 Endowment funds 132,157 Restricted funds 87,041 1,720,704 Summary of funds - prior year Balance at 1 February 2020 £ General funds 1,048,643 Endowment funds 140,014 Restricted funds 219,756 1,408,413 |
Balance at 1 February 2021 £ 1,501,506 132,157 87,041 |
Income £ 264,863 - 161,496 426,359 Income £ 202,175 - 473,546 675,721 |
Expenditure £ (293,430) - (69,313) (362,743) Expenditure £ (288,650) - (71,973) (360,623) |
Transfers in/(out) £ 110,342 - (110,342) - Transfers in/(out) £ 534,288 - (534,288) - |
Gains/ (Losses) £ 19,401 18,249 - |
Balance at 31 January 2022 £ 1,602,682 150,406 68,882 1,821,970 Balance at 31 January 2021 £ 1,501,506 132,157 87,041 1,720,704 |
|---|---|---|---|---|---|---|
| 1,720,704 | 37,650 | |||||
| Gains/ (Losses) £ 5,050 (7,857) - |
||||||
| 1,408,413 | (2,807) |
Page 21
CASTLE HOWARD ARBORETUM TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022
19. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Creditors due after one year Analysis of net assets between funds - prior year Tangible fixed assets Fixed asset investments Current assets Creditors due within one year |
Unrestricted funds 2022 £ 1,322,789 212,758 130,806 (22,545) (41,125) |
Restricted funds 2022 £ - - 68,881 - |
Endowment funds 2022 £ - 144,522 5,884 - |
Total funds 2022 £ 1,322,789 357,280 205,571 (22,545) (41,125) |
|---|---|---|---|---|
| 1,602,682 | 68,881 |
150,406 |
1,821,970 |
|
| Unrestricted funds 2021 £ 1,158,625 193,357 165,101 (15,577) |
Restricted funds 2021 £ - - 87,041 - |
Endowment funds 2021 £ - 126,273 5,884 - |
Total funds 2021 £ 1,158,625 319,630 258,026 (15,577) |
|
| 1,501,506 | 87,041 |
132,157 |
1,720,704 |
20. Capital commitments
At 31 January 2022 the charity had capital commitments as follows:
Contracted for but not provided in these financial statements
| 2022 £ 60,000 |
2021 £ 820,103 |
|---|---|
21. Pension commitments
The charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £9,566 (2021: £9,802). Contributions totalling £1,710 (2021: £1,635) were payable to the fund at the balance sheet date and are included in creditors.
Page 22
CASTLE HOWARD ARBORETUM TRUST (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022
22. Related party transactions
The charity has a 100% subsidiary The Arboretum Trust Trading Company Limited which gift aids its surplus of £14,004 (2021: £15,070) over to the Trust.
Amounts due from The Arboretum Trust Trading Company Limited of £35,435 (2021: £32,905), are included within debtors. The amount includes a loan due from the subsidiary company of £25,000 plus interest of £3,062, which is due for repayment on 30 June 2026. Interest is charged on this loan at 2% per annum above base rate.
During the year, donations made by individual Trustees totalled £6,230 (2021: £5,500).
23. Heritage assets
The Trust's plant holdings are found on two sites. Yorkshire Arboretum opened to the public for the first time in 1999 as part of the celebration of Castle Howard's tercentenary year although planting of the new Arboretum began in 1975, instigated by the shared vision of the late Lord Howard and Dr James Russell. It was James Russell's talented plantmanship and extraordinary planting design that was brought to bear on the creation of the present Arboretum. In the 120 acre Arboretum, a native flora of species-rich grassland nestle beneath exotic trees gathered from around the temperate world, providing a landscape that is unique in both style and substance.
The land at Ray Wood covers 40 acres and contains a collection of rhododendrons, some 500 species and 300 important hybrids along with many other rare shrubs and trees, among them other members of the family Ericaceae, such as Vaccinium and Gaultheria and considerable collections of genera such as Sorbus, Magnolia, Rose and Acer. Many of the plants such as Rhododendron Thomsonii, along with other rhododendrons from the Sino Himalaya are of historic importance. The collection also includes plants gathered by many great plant collectors, for example, Hooker, Wilson, Farrer, Purdom, Rock and Kingdon-Ward.
An education programme offers a range of activities for school and community groups, families, and all visitors in general.
Page 23