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 2023
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 - 24 |
CASTLE HOWARD ARBORETUM TRUST
(A Company Limited by Guarantee)
TRUSTEES’ REPORT FOR THE YEAR ENDED 31 JANUARY 2023
Trustees
Mr Greville Worthington, Chair[2] The Hon. Nicholas Howard[1] Mrs Jane Ingham[1] Mrs Julia Willison[3 ] Professor Nicola Spence[2] Mr Michael Sturge[2] Mrs Victoria Howard[1] Dr Helen Crews[2 ] Dr Alan Suggett[2 ] Mr Christopher Bridge[2 ] Mr Richard Hallam Barley[3] Professor Ian Graham[3] (Appointed 03/10/2022) Professor Sue Hartley[3] (Resigned 02/02/2022)
-
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 2023
The Trustees present their report and the financial statements of the charity for the year ended 31 January 2023. 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 £280,386 (2022 £426,359), after expenditure of £429,222 (2022: £362,743) the deficit before revaluations was £148,836 (2022: surplus £63,616), after (losses)/gains on investments of (£7,395) (2022: £37,650) there was an overall deficit for the year of £156,221 (2022: surplus of £101,266), resulting in total funds carried forward of £1,665,749 (2022: £1,821,970). Unrestricted funds carried forward were £1,457,464 (2022: 1,602,682). Restricted funds carried forward were £56,872 (2022: £68,882). Endowment funds carried forward were £151,413 (2022: £150,406).
Page 2
CASTLE HOWARD ARBORETUM TRUST
(A Company Limited by Guarantee)
TRUSTEES’ REPORT FOR THE YEAR ENDED 31 JANUARY 2023
Achievements and performance - continued
b. Achievements and performance
In 2022-23 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. Visitation fell from the previous year’s high, but membership recruitment and retention were good.
Volunteering effort remained strong, with (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. The enclosure was completed in autumn 2022. Sourcing Red Squirrels to occupy it was a challenge, but through the BIAZA Red Squirrel Studbook network a male and two females were obtained in December 2022.
Plans for developing the Tree Health Centre’s activities were disrupted by staff changes and only a few courses were offered. A new appointment to the role of Head of Tree Health and Training was made in December 2022.
A workshop to develop a Strategic Plan for 2023-28 was held in September 2022, when Trustees agreed the following statements, confirmed at the board meeting in January 2023:
Mission Statement
To be the best tree collection of the North of England.
Strategic Aims
Achieve long-term financial viability and resilience
Be a recognised resource of tree health, research, training and expertise. To have an emphasis on the impact of climate change
Be a leading provider of education on tree and related biodiversity
Diversify and curate the collection to enhance its scientific significance and educational value
As part of the ongoing Governance Review the terms of reference for a Personnel Committee were prepared and approved by the board: the committee met twice during the year as required.
School visits were reduced from previous levels, as our Education Officer is employed for only one day per week following the covid pandemic. The cost of travel to the arboretum is seen as a significant limiting factor. Despite this 800 pupils from 15 schools visited the arboretum.
We welcomed a number of professional colleagues to the arboretum, representing Action Oak, the International Plant Sentinel Network, Bartlett Tree Experts, RHS Harlow Carr, Bedgebury National Pinetum, Perennial and the National Trust. A significant visitor on 6 June was Lord Benyon, Minister for Rural Affairs, access to nature and Biosecurity, accompanied by Nicola Spence (trustee and UK Chief Plant Health Scientist). The arboretum was used for ongoing research on plant health matters by scientists from Fera Science Ltd.
A number of art exhibitions were held. 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.
Curatorial notes
Weather throughout 2022 was challenging. A dry spring turned into a prolonged drought summer, necessitating extra watering of newly established trees until the drought broke in late August. A moist autumn led to a good recovery of most trees, though it is expected that drought damage will be expressed in succeeding years. Periods of hard frost followed in December and January, with temperatures reaching -9oC on several nights in both periods. Some losses attributable to freezing have occurred, but fewer than expected. Few serious wind events occurred, resulting in little damage to the trees.
Page 3
CASTLE HOWARD ARBORETUM TRUST
(A Company Limited by Guarantee)
TRUSTEES’ REPORT FOR THE YEAR ENDED 31 JANUARY 2023
New planting included the restoration of the car park landscape, following the construction of the Peter Sowerby Building, with the trees being dedicated to the Queen’s Green Canopy initiative, making Her Late Majesty’s Platinum Jubilee, will be made in 2022.
Research into disease in Sweet Chestnuts in Ray Wood continued, but no conclusive results have been found.
c. Plans for future periods
In 2023 there will be a focus on opening the Red Squirrel Enclosure to the public, enabling visitors to learn more about these native mammals and their antagonist the Grey Squirrel, as part of our tree health education work.
Tree health education will continue to be developed.
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 £314,000, 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 £90,980 (2022: £279,983).
Page 4
CASTLE HOWARD ARBORETUM TRUST
(A Company Limited by Guarantee)
TRUSTEES’ REPORT FOR THE YEAR ENDED 31 JANUARY 2023
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:
Greville Worthington (Dec 20, 2023 12:19 GMT) ……………………………………… Mr Greville Worthington Trustee and Chair
Date: 20/12/2023
Michael Sturge
Michael Sturge (Dec 20, 2023 12:35 GMT)
……………………………………… Mr Michael Sturge Trustee
Date: 20/12/2023
Page 5
CASTLE HOWARD ARBORETUM TRUST
(A Company Limited by Guarantee)
INDEPENDENT EXAMINER’S REPORT FOR THE YEAR ENDED 31 JANUARY 2023
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 2023.
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
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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
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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 (Dec 20, 2023 13:14 GMT) ……………………………………… Laura Masheder FCA, DChA BHP LLP
Date: 20/12/2023
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 2023
| 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 (expenditure/income before investment gains/(losses) Net (losses)/gains on investments 14 Net (expenditure)/income before transfers Transfers between Funds 18 Net movement in funds Reconciliation of funds: Total funds brought forward 18 Total funds carried forward 18 |
Unrestricted funds 2023 £ 142,608 111,072 5,531 1,175 |
Restricted funds 2023 £ 20,000 - - - |
Endowment funds 2023 £ - - - - |
Total funds 2023 £ 162,608 111,072 5,531 1,175 |
Total funds 2022 £ 282,496 116,366 8,906 18,591 |
||
|---|---|---|---|---|---|---|---|
260,386 |
20,000 | - | 280,386 |
426,359 |
|||
12,447 384,765 |
- 32,010 |
- - |
12,447 416,775 |
8,552 354,191 362,743 |
|||
397,212 |
32,010 |
- | 429,222 | ||||
(136,826) (8,392) |
(12,010) - |
- 1,007 |
(148,836) (7,385) |
63,616 37,650 101,266 - |
|||
(145,218) ____-_ (145,218) 1,602,682 |
(12,010) - |
1,007 - |
(156,221) - |
||||
| (12,010) 68,882 |
1,007 150,406 |
(156,221) 1,821,970 |
101,266 1,720,704 |
||||
1,457,464 |
56,872 |
151,413 |
1,665,749 |
1,821,970 |
The consolidated statement of financial activities complies with the requirements for an income and expenditure account under the Companies Act 2006 and includes all gains and losses recognised in the year.
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 2023
| 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 (liabilities)/ 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 |
£ 36,690 8,649 |
2023 £ 1,366,484 349,895 1,716,379 (19,816) |
2023 £ 1,366,484 349,895 1,716,379 (19,816) |
£ 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 |
|---|---|---|---|---|---|---|
45,339 (65,155) |
205,571 (22,545) |
|||||
(30,814) 1,665,749 |
(30,814) |
(41,125) 1,821,970 |
(41,125) |
|||
| 151,413 56,872 1,457,464 |
150,406 68,882 1,602,682 |
|||||
1,665,749 |
1,821,970 |
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:
Greville Worthington (Dec 20, 2023 12:19 GMT) ~~……………………………………~~ … Michael Sturge (Dec 20, 2023 12:35 GMT) ~~………………………………………~~ Michael Sturge Mr Greville Worthington Mr Michael Sturge (Trustee & Chair) (Trustee) Date: 20/12/2023 Date: 20/12/2023
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 (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
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 Going concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
1.4 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.
Page 9
CASTLE HOWARD ARBORETUM TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
1. Accounting Policies – continued
1.5 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.
1.6 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.
1.7 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.
Page 10
CASTLE HOWARD ARBORETUM TRUST (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
1. Accounting Policies – continued
1.8 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.
1.9 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.
1.10 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.
1.11 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.
1.12 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.
Page 11
CASTLE HOWARD ARBORETUM TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
1. Accounting Policies – continued
1.13 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.
1.14 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.
There are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
Page 12
CASTLE HOWARD ARBORETUM TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
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 2022 |
Unrestricted funds 2023 £ - 21,401 37,579 - - 11,000 22,435 - 50,193 142,608 121,000 |
Restricted funds 2023 £ - 20,000 - - - - - - - |
Endowment funds 2023 £ - - - - - - - - - |
Total funds 2023 £ - 41,401 37,579 - - 11,000 22,435 - 50,193 |
Total funds 2022 £ 15,000 18,246 27,004 50,000 73,903 10,000 20,750 22,593 45,000 282,496 |
|---|---|---|---|---|---|
| 20,000 | - | 162,608 |
|||
| 161,496 | - | 282,496 |
3. Charitable activities
| Arboretum - entrance fees Education - education income Events and other income Tree Health Centre Income Total 2022 |
Unrestricted funds 2023 £ 81,303 4,922 19,013 5,834 |
Restricted funds 2023 £ - - - |
Endowment funds 2023 £ - - - |
Total funds 2023 £ 81,303 4,922 19,013 5,834 |
Total funds 2022 £ 104,936 1,594 7,481 2,356 |
||
|---|---|---|---|---|---|---|---|
| 111,072 | - | - | 111,072 | 116,367 | |||
| 116,367 | - | - | 116,367 |
Page 13
CASTLE HOWARD ARBORETUM TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
| 4. Investments Investment income (listed investments) Interest on Loan Investment income (cash) Total 2022 |
Unrestricted funds 2023 £ 4,413 1,000 118 |
Restricted funds 2023 £ - - - |
Endowment funds 2023 £ - - - |
Total funds 2023 £ 4,413 1,000 118 |
Total funds 2022 £ 8,273 625 8 |
|---|---|---|---|---|---|
| 5,531 | - | - | 5,531 | 8,906 | |
| 8,906 | - | - | 8,906 |
| 5. Other income Miscellaneous income HMRC Job Retention Scheme Total 2022 |
Unrestricted funds 2023 £ 1,175 - |
Restricted funds 2023 £ - - |
Endowment funds 2023 £ - - |
Total funds 2023 £ 1,175 - |
Total funds 2022 £ 2,118 16,473 |
|---|---|---|---|---|---|
| 1,175 | - | - | 1,175 | 18,591 | |
| 18,591 | - | - | 18,591 |
6. Raising funds
| Donations, fundraising, grants & membership costs Total 2022 |
Unrestricted funds 2023 £ 12,447 |
Restricted funds 2023 £ - |
Endowment funds 2023 £ - |
Total funds 2023 £ 12,447 |
Total funds 2022 £ 8,552 |
|---|---|---|---|---|---|
| 8,552 | - | - | 8,552 |
Page 14
CASTLE HOWARD ARBORETUM TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
7. Analysis of expenditure on charitable activities
| Arboretum Ray Wood Education Tree Health Centre Red Squirrels Visitor Centre Governance Costs Total 2022 |
Unrestricted funds 2023 £ 244,958 8,424 13,696 18,767 1,315 95,355 382,515 2,250 384,765 |
Restricted funds 2023 £ - - - 32,010 - - 32,010 - 32,010 69,313 |
Endowment funds 2023 £ - - - - - - |
Total funds 2023 £ 244,958 8,424 13,696 50,777 1,315 95,355 |
Total funds 2022 £ 203,125 7,518 8,590 60,109 - 72,549 |
|---|---|---|---|---|---|
- - - |
414,525 2,250 416,775 |
351,891 2,300 354,191 |
|||
| 284,878 | - | 354,191 |
8. Analysis of Expenditure by expenditure type
| Expenditure on raising voluntary income Costs of raising funds Arboretum Ray Wood Education Visitor Centre Red Squirrels Tree Health Centre Charitable activities Expenditure on governance Total 2022 |
Staff costs 2023 £ - |
Depreciation 2023 £ - |
Other costs 2023 £ 12,447 |
Total 2023 £ 12,447 |
Total 2022 £ 8,552 |
|
|---|---|---|---|---|---|---|
| - | - | 12,447 | 12,447 | 8,552 | ||
| 147,350 7,397 9,553 44,111 - 38,143 246,554 |
31,984 - - - - - 31,984 |
65,624 1,027 4,143 51,244 1,315 12,634 135,987 2,250 |
244,958 8,424 13,696 95,355 1,315 50,777 414,525 |
197,210 7,501 8,571 72,391 - 66,218 351,891 |
||
- |
- | 2,250 |
2,300 |
|||
| 246,554 | 31,984 | 138,237 | 416,775 | 362,743 | ||
| 231,368 | 38,418 | 92,936 | 362,743 |
Page 15
CASTLE HOWARD ARBORETUM TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
9. Analysis of expenditure by activities
| Arboretum Ray Wood Education Tree Health Centre Red Squirrels Visitor Centre Total 2022 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 2023 £ 174,983 7,022 9,598 31,635 1,046 67,159 291,443 |
Support costs 2023 £ 69,975 1,402 4,098 19,142 269 28,196 123,082 |
Total 2023 £ 244,958 8,424 13,696 50,777 1,315 95,355 |
Total 2023 £ 244,958 8,424 13,696 50,777 1,315 95,355 |
Total 2022 £ 197,210 7,501 8,571 66,218 72,391 |
|---|---|---|---|---|---|
414,525 |
351,891 |
||||
| 285,147 | 66,744 | 351,891 | 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 |
||
| Unrestricted funds 2023 £ 55,825 1,790 9,473 3,184 7,503 7,102 9,971 1,994 2,555 6,108 17,577 123,082 |
Total funds 2023 £ 55,825 1,790 9,473 3,184 7,503 7,102 9,971 1,994 2,555 6,108 **17,577 ** |
||||
| 123,082 |
10. Governance costs
| Independent examination fee Trustees' expenses Total 2022 |
Unrestricted funds 2023 £ 2,250 **- ** |
Restricted funds 2023 £ - - |
Endowment funds 2023 £ - - |
Total funds 2023 £ 2,250 - |
Total funds 2022 £ 1,500 800 |
|---|---|---|---|---|---|
| 2,250 | - | - | 2,250 | 2,300 | |
| 2,300 | - | - | 2,300 |
Page 16
CASTLE HOWARD ARBORETUM TRUST (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
11. Net (expenditure)/income/
This is stated after charging:
| Depreciation of tangible fixed assets: - owned by the charity Independent examination |
2023 £ 31,984 2,250 |
2022 £ 38,418 1,500 |
|---|---|---|
During the year, no Trustees received any remuneration (2022- £NIL). During the year, no Trustees received any benefits in kind (2022 - £NIL).
During the year, no Trustees received reimbursement of expenses (2022 – 1 Trustee received £800).
12. Staff costs
Staff costs were as follows:
| Wages and salaries Social security costs Other pension costs |
2023 £ 252,130 15,326 8,098 |
2022 £ 233,276 14,892 9,566 |
|---|---|---|
| 275,554 | 257,736 |
The above costs include £29,000 which was included in capital additions in relation to the building of the Red Squirrel Enclosure (2022: £36,705 for the Tree Health Centre), leaving a net staff cost of £246,554 (2022: £221,031) in total expenditure (note 8).
The average monthly number of employees was as follows:
| 2023 | 2022 |
|---|---|
| No. | No. |
| 14 | 13 |
No employee received remuneration amounting to more than £60,000 in either year.
Page 17
CASTLE HOWARD ARBORETUM TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
13. Tangible fixed assets
| Cost At 1 February 2022 Additions Disposals At 31 January 2023 Depreciation At 1 February 2022 Charge for the year Disposals At 31 January 2023 Net book value At 31 January 2023 At 31 January 2022 |
Long-term leasehold property £ 380,620 1,930 - |
Plant and machinery £ 213,965 7,591 - |
Office / Workshop £ 182,772 - - |
Tree Health Centre Red Squirrel enclosure £ £ 855,251 37,476 19,190 46,968 - - |
Tree Health Centre Red Squirrel enclosure £ £ 855,251 37,476 19,190 46,968 - - |
Other £ 1,360 - (1,360) |
Total £ 1,671,444 75,679 (1,360) |
|||
|---|---|---|---|---|---|---|---|---|---|---|
| 382,550 | 221,556 |
182,772 |
**874,441 ** | 84,444 | **- ** | 1,745,763 | ||||
| 115,236 9,404 - |
194,844 10,452 - |
23,441 3,384 - |
13,774 8,744 - |
- - - |
1,360 - (1,360) |
348,655 31,984 (1,360) |
||||
| 124,640 | 205,296 |
**26,825 ** | 22,518 | - |
**- ** | 379,279 | ||||
| 257,910 265,384 |
16,260 19,121 |
155,947 159,331 |
851,923 841,477 |
84,444 37,476 |
- - |
1,366,484 | ||||
| 1,322,789 |
Page 18
CASTLE HOWARD ARBORETUM TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
14. Fixed asset investments
| Market value At 1 February 2022 Revaluations At 31 January 2023 Historical cost Subsidiary undertakings The following were subsidiary undertakings of the company: Name Arboretum Trust Trading Limited |
Listed securities £ 357,279 (7,385) |
Shares in group undertakings £ 1 - |
Total £ 357,280 (7,385) |
|---|---|---|---|
349,894 |
1 | 349,895 |
|
| 218,622 | 1 | 218,623 | |
The aggregate of the share capital and reserves as at 31 January 2023 and of the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:
| Name Arboretum Trust Trading Limited 15. Debtors Trade debtors Amounts owed by group undertakings Prepayments and accrued income |
Aggregate of share capital and reserves £ 89 |
Profit/(loss) £ 88 |
|---|---|---|
| 2023 £ 4,570 9,147 22,973 |
2022 £ 1,961 35,435 16,947 |
|
| 36,690 | 54,343 |
Amounts owed by group undertakings include £29,063 (2022: £28,063) which is due in more than 1 year, the terms of this loan are fully disclosed in note 22 to these Financial Statements.
Page 19
CASTLE HOWARD ARBORETUM TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
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 |
2023 £ 30,183 10,434 12,775 9,512 2,251 |
2022 £ 2,750 8,874 7,710 1,710 1,501 |
|---|---|---|
| 65,155 | 22,545 |
Other taxation and social security
| Other taxation and social security | |||||
|---|---|---|---|---|---|
| PAYE/NI VAT Creditors: Amounts falling due after one year HSBC Loan |
2023 £ 7,127 5,648 |
2022 £ 5,888 1,822 |
|||
| 12,775 | 7,710 | ||||
| 2023 £ 30,814 |
2022 £ 41,126 |
||||
| 30,814 | 41,126 |
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 at 2.5%.
Page 20
CASTLE HOWARD ARBORETUM TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
18. Statement of funds
Statement of funds - current year
| General Funds Endowment funds Howard Fund Howick Fund Restricted funds, Tree Heath Centre Business Red Squirrel Project Education Shelter Total of funds |
Balance at 1 February 2022 £ 1,602,682 |
Income £ 260,386 |
Expenditure £ (397,212) |
Transfers in/out £ - |
Gains/ (Losses) £ (8,392) 1,007 - |
Balance at 31 January 2023 £ 1,457,464 145,529 5,884 |
|
|---|---|---|---|---|---|---|---|
144,522 5,884 |
- - |
- - |
- - |
||||
| 150,406 | - | - | - | 1,007 | 151,413 | ||
32,010 36,872 - |
- - 20,000 |
(32,010) - - |
- - - |
- - **- ** |
- 36,872 20,000 |
||
| 68,882 | 20,000 | (32,010) | - | - | 56,872 | ||
1,821,970 |
280,386 |
(429,222) |
- | (7,385) | 1,665,749 |
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 Business monies raised for the running of the Tree Health Centre. Red Squirrel Project represents monies raised for a capital Red Squirrel Project.
Education Shelter represents monies donated by the Icthius Trust to contribute to an Outdoor Education Shelter. 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 21
CASTLE HOWARD ARBORETUM TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
18. Statement of funds – continued
Statement of funds - prior year
| Balance at 1 February 2021 £ General Funds 1,501,506 Endowment funds Howard Fund 126,273 Howick Fund 5,884 132,157 Restricted funds Tree Health Centre Capital (1,111) Tree Health Centre Business 41,393 Red Squirrel Project 36,211 Grey Squirrel Project 9,697 Arborist 850 87,041 Total of funds 1,720,704 Summary of funds - current year Balance at 1 February 2022 £ General funds 1,602,682 Endowment funds 150,406 Restricted funds 68,882 1,821,970 Summary of funds - prior year Balance at 1 February 2021 £ General funds 1,501,506 Endowment funds 132,157 Restricted funds 87,041 1,720,704 |
Balance at 1 February 2021 £ General Funds 1,501,506 Endowment funds Howard Fund 126,273 Howick Fund 5,884 132,157 Restricted funds Tree Health Centre Capital (1,111) Tree Health Centre Business 41,393 Red Squirrel Project 36,211 Grey Squirrel Project 9,697 Arborist 850 87,041 Total of funds 1,720,704 Summary of funds - current year Balance at 1 February 2022 £ General funds 1,602,682 Endowment funds 150,406 Restricted funds 68,882 1,821,970 Summary of funds - prior year Balance at 1 February 2021 £ General funds 1,501,506 Endowment funds 132,157 Restricted funds 87,041 1,720,704 |
Income £ 264,863 |
Expenditure £ (293,430) - - - - (46,335) - (7,978) (15,000) (69,313) (362,743) Expenditure £ (397,212) - (32,010) |
Transfers in/(out) £ 110,342 |
Gains/ (Losses) £ 19,401 |
Balance at 31 January 2022 £ 1,602,682 144,522 5,884 150,406 - 32,010 36,872 - - 68,882 1,821,970 Balance at 31 January 2023 £ 1,457,464 151,413 56,872 |
|||||
|---|---|---|---|---|---|---|---|---|---|---|---|
- - |
- - |
18,249 - |
|||||||||
| - | - | 18,249 | |||||||||
72,593 36,952 36,951 - 15,000 |
(71,482) (36,291) (1,719) (850) |
- - |
|||||||||
| 161,496 | (110,242) - |
- | |||||||||
426,359 |
37,650 | ||||||||||
| (429,222) | (7,385) | 1,665,749 | |||||||||
Expenditure £ (293,430) - (69,313) |
Gains/ (Losses) £ 19,401 - 18,249 |
Balance at 31 January 2022 £ 1,602,682 150,406 68,882 |
|||||||||
| 1,720,704 | (362,743) | 37,650 | 1,821,970 |
Page 22
CASTLE HOWARD ARBORETUM TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
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 Creditors due after one year |
Unrestricted funds 2023 £ 1,366,484 204,366 (17,417) (65,155) (30,814) |
Restricted funds 2023 £ - - 56,872 - |
Endowment funds 2023 £ - 145,529 5,884 - |
Total funds 2023 £ 1,366,484 349,895 45,339 (65,155) (30,814) |
|---|---|---|---|---|
| 1,457,464 | 56,872 | 151,413 | 1,665,749 | |
| 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 |
20. Capital commitments
At 31 January 2023 the charity had capital commitments as follows:
| Contracted for but not provided in these financial statements | 2023 £ 10,000 |
2022 £ 60,000 |
|---|---|---|
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 £8,098 (2022: £9,566). Contributions totalling £9,512 (2022: £1,710) were payable to the fund at the balance sheet date and are included in creditors.
Page 23
CASTLE HOWARD ARBORETUM TRUST (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
22. Related party transactions
The charity has a 100% subsidiary The Arboretum Trust Trading Company Limited which gift aids its surplus of £27,776 (2022: £14,004) over to the Trust.
Amounts due from The Arboretum Trust Trading Company Limited of £9,147 (2022: £35,435), are included within debtors. The amount includes a loan due from the subsidiary company of £25,000 plus interest of £4,062, 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 £4,750 (2022: £6,230).
The charity paid rent of £10,699 (2022 - £10,159) to Castle Howard Estates Limited, a company with common directors.
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 24
Castle Howard Arboretum Trust - Accounts
2023
Final Audit Report
2023-12-20
Created: 2023-12-18 By: Emily Jones (emily.jones@bhp.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAEZJ4szeE_zJpNYFR6Z2ai-1Gh09wg6VS
"Castle Howard Arboretum Trust - Accounts 2023" History
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