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 2024
CASTLE HOWARD ARBORETUM TRUST {A Company Limited by Guarantee) CONTENTS Page Reference and Administrative Details of the Charity, its Trustees and Advisers Trustees, Report Independent Examiner's Report Statement of Financial Activities Balance Sheet Statement of Cash Flows Notes to the Financial Statement5 10-24
CASTLE HOWARD ARBORETUM TRUST {A Company Llmlted by Guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 JANUARY 2024 Trustees Mr Greville Worthington, Chair The Hon. Nicholas Howard1 Mrs Jane Ingham, IRets"red 24104120241 Mrs Julia Willison, Professor Nicola Spence, Mr Michael Sturge, Mrs Victoria Howard, Dr Helen Crews, Mr Christopher Bridge, Mr Richard Barley Mr Alan SugEett (Retired 241041241 Professor lan Graham Mr John Wood, (Appointed 24104120241 Caskle Howard Estate Ltd representatwe Independent repre5entatTrve Royal Botanic Garden5 Kew representative Company registered number 03006258 Charity reglstered number 1044931 Registered office The Estate Office. Castle Howard. York, Y060 7DA Company secretary Mr Michael Sturge Chair Mr Greville Worthington Independent examiner Mr G Baragwanath FCA C & GB Associates 37-39 Westgate, Thirsk Y07 IQR Bankers Cafcash. 25 Kings Hill Avenue, West Malling, Kent, ME19 4JQ Solicitors Crombie Wilkinson, Forsyth House, 3 Market Pl, Malton, Y017 7LP. Page I
CASTLE HOWARD ARBORETUM TRUST IA Company Limited by Guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 JANUARY Z024 The Trustees present their report and the financial statement5 of the charity for the year ended 31 January 2024. The trustees have adopted the provisions of the Statement of Recommended Practice ISORPI "Accounting and Reporting by Charities" IFRS 1021 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 Charitie5- 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 15 not required. Objectives and Activitie5 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. A new Strategic Plan is being developed. The tree collertion in the Yorkshire Arboretum and the garden in Ray Wood is overseen by the Director. In 2023-24 the collection was maintained by two full time Operations Team employees and a part-time Plant Records Officer. 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. orkshirearboretum.or Achievements and performance a. Financial review Income for the year totalled £535,91312023'. £280,386), after expenditure of £515,46312023.' £429,222) the surplus before revaluations was £20,45012023: deficit1£148,83611, after gains/llossesl on investments of1£3,816112023'.1£7,38511 there was an overall surplus for the year of £16,634 12023- deficit 1£156,2711, resulting in total funds carried forward of £1,682,38312023: £1.665.7491. Unrestricted funds carried forward were £1,531,20012023: 1,457,464). Restricted funds carried forward were £13.75012023'. £56.8721. Endowment funds carried forward were £137.43312023'. £151,413). Page 2
CASTLE HOWARD ARBORETUM TRUST {A Company knmited by Guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 JANUARY 2024 Achievements and perAormance- continued b. Achievements and performance In 2023-24 the Trust continued to manage and improve the grounds and collection in both the Yorkshire Arboretum and Ray Wood and continued programme of education for all ages, Visitor numbers increased, and membership recruitment and retention were good. The most important development in the year was the opening of the Red Squirrel Enclosure on l April. Funded by the King Charles111 Charitable Fund, designed by Ben Paterson (Yorkshire Arboretum arborist) and built by volunteers, the enclosure encompasses 2500 m and includes several mature oaks and older trees. A boardwalk provides access for visitors, who are enabled to have close-up views of the squirrels. The founding population of two females and a male, obtained through the BIAZA Red Squirrel Studbook network, rapidly started breeding and over the course of the year produced 12 kits. These attracted a lot of media interest and publicity, substantially boosting arboretum revenue while interpretation educates the visitors about both Red and Grey Squirrels. The appointment of Ginette Alexander as Head of Tree Health and Training enabled a much fuller programme of Tree Health Centre activities, with a shift in emphasis away from direct teaching and training to provision of information and interpretation materials. A major project undertaken was a pilot study into the provision of tree health training using virtual reality, in collaboration with Askham Bryan College a nd Fera Science Ltd. The arboretum was used for ongoing research on plant health matters by scientists from Fera Science Ltd. Volunteering effort remained strong, with (voluntary) Volunteer Coordinators being great assistance. Volunteering covers all aspects of the Trust'5 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. School visits were comparable previous levels, despite our Education Officer being employed for only one day per week following the covid pandemic. Unfortunately there is no opportunity for outreach work with schools and this has ceased. However, the cost of travel to the arboretum is seen as a significant limiting factor. During the year we welcomed a number of professional colleagues to the arboretum. A meeting of the Royal Horticultural Society's Woody Plant Committee was held here in September, followed by a study day for the International Dendrology Society. The Director continued to work one day/week on the International Dendrology Society's Trees and Shrubs Online, making reliable information on woody plants available worldwide. 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 After a dry spring a wet summer and autumn enabled exceSlent growth of the trees and shrubs in the collection, though wet ground made some curatorial tasks difficult. A mild but very wet winter followed. A diversity of trees and shrubs was planted across the site. The discovery of Phytophthora ramorum in a Rhododendron necessitated the removal of a stand of larch in the vicinity, which was undertaken by the arboretum team through the summer and autumn. The area Page 3
CASTLE HOWARD ARBORETUM TRUST (A Company Limited by Guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 JANUARY 2024 remains carefully monitored. c. Plans for future periods Following staff changes in 2023 it Is anticipated that 2024 will see a period of consolidation and further work towards creating a strategy for robust sustainability. d. Investment policy and performance The charity's Investment policy has two components: il 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 ill 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 reviTew . 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 two principal financial risks to be covered by the charity's Reserves Policy are the volatility of net income, and the impact from material operational disruption including, but not limited to, enforced closures of the Arboretum. The Trustees consider that a minimum level of reserves of £325,000 should be held to mitigate these two risks. At 31 January 2024 the free reserve5 of the charity equated to £198,28112023.' £90,9801. The Trustees accept the current shortfall relative to the above policy whilst the charity's strategic plan 15 being reviewed and updated. 5trurture, governance ond monogement a. Constitution The charity is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association injune 1997 The charity is constituted under a Mernorandum 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. Page 4
CASTLE HOWARD ARBORETUM TRUST {A Company Llmited by Guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 JANUARY 2024 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 term5 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 Eiven 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. Appointment of Independent Examiners Following a tender process, the Trustees appointed C & GB Associates to act as Independent Examiners of the Accounts for the year ended 31 January 2024. The Trustees are grateful or the services of BHP LLP who acted in previous years. e. Public benefit The Castle Howard Arboretum Trust continues to maintain and extend its nationally important hardy wood reference collections using primarily wild source material a5 a complement to the National Collections at the Royal Botanic Gardens, Kew and Wakehurst and other collections in the UK. In doinE 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 o other users has been particularly successful. Director In July 2024 the Director, John Grimshaw MBE, advised his resignation following his appointment as Editor in Chief of the prestigious Curtis's Botanical Magazine. He will leave at the end of September 2024. Trustees are immensely grateful to John for his 12 years of service at the Arboretum during which huge advances were made, as well as significant challenge5 faced, not least those arising from the covid pandemic. Throughout John served with skill, passion and dedication. This report was approved by the Trustees and signed on their behalf by.. Mr Greville Worthington Trustee and Chair Date.. kn.oe.L Page 5
CASTLE HOWARD ARBORETUM TRUST (A Company Limited by Guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 JANUARY 2024 Independent Examiner's Report to the Trustees of Castle Howard Arboretum Trust (the 'charity'l I report to the charity Trustees on my examination of the accounts of the charitable company for the year ended 31 January 2024. Responsibilities and Basis of Report As the charity trustees of the company land its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'the 2006 Act'l. 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 20111'the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent Examiner's Statement Since the charity's gross income exceeded £250,000 your examiner must be a metnber of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l 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 IFRS 1021. 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. 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 2024 Unrestricted funds 2024 Restrlcted funds 2024 Endowment funds 2024 Total funds 2024 Total funds 2023 Note Income and endowment5 from: Donations and legacies Charitable activities Investments Other income 311,027 194,308 11,828 18,750 329,777 194,308 11,828 162,608 111.072 5.531 Total income and endowments 517 163 535 913 280 386 Expenditure on: Raising funds Charitable activities 6,102 6,102 509 361 12,447 416 755 10.7 Total expendlture 510 463 515 463 429 222 Net income/lexpenditurel before investment gains/(losses) Net Ilossesl/gains on investments Net income/(expenditure before transfers 6,700 13,750 20,450 1148,8361 10,980 13,750 18,096) 16,634 1156.2211 Transfers between Funds Net lincomellexpenditurel before other recognlsed gains and losses 17 73,736 143,122) {13.9801 16,634 1156,2211 - Net movement in funds 73,736 143,122) {13,9801 16,634 1156,221} Reconciliation of funds: Total funds brought forward 1457 464 151413 1665 749 1821970 Total funds carried forward 74 The notes on pages 9 to 23 form part of these financial statements. Page 7
CASTLE HOWARD ARBORETUM TRUST {A Company Limited by Guarantee) REGISTERED NUMBER: 03006258 BALANCE SHEET AS AT 31 JANUARY 2024 2024 2023 Note Fixed assets Tangible assets 13 1,332,919 1,366,484 Investments 14 196 079 349 895 1,528,998 1,716,379 Current assets Debtors 15 144,401 36,690 Cash at bank and in hand 225,688 45,339 Creditors: amounts falling due within one year 16 Net current Iliabilitiesl/ assets 175 609 Creditors: amounts falling due after more than one year 17 Net assets 74 Charity Funds Endowment funds 18 137,433 151,413 Restricted funds 18 13,750 56,872 Unrestricted funds 18 1 531 200 1457 464 Total funds 166574 The charity's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regirne. 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 20061"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 financ I stat ments were approved and authorised for issue by the Trustees and signed on their behalf, by.. Mr Greville Worthington {Trustee & Chairl Date.. 09.2L The notes on pages 9 to 23 form part of these financial statements. Page 8
CASTLE HOWARD ARBORETUM TRUST IA Company Limited by Guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Note Cash flows from operatlng activities Net cash used in operating activities 24 Cash flows from investing attivities Dividends and interest Purchase of fixed assets Proceeds from sale of investments 11,828 17,6851 150 000 5,531 175,6791 Net cash provided by/{used in) investin8 activities 154 143 Change in cash and cash equivalents in the year 72,638 {142,5791 Cash and cash equivalents brought forward 151228 Cash and cash equivalents carried forward 25 Page 9
CASTLE HOWARD ARBORETUM TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 {CONTINUED) Accounting Pollcies 1.1 Basis of preparation offinonclal 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 IFRS 1021. 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 liabilitie5 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 Compony status The charity is a company limited by guarantee. The members of the company are the Trustees named on page l. 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 uccountlng 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 bv the charity for particular purposes. The costs of raising and administèring 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 10
CASTLE HOWARD ARBORETUM TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 (CONTINUED) Accounting Poll¢ies- 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 Tangiblefixed assets and deprecitytion 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 Plant and machinery Office/Workshop Tree Health Centre Red squirrel enclosure 20- 50 years 5 years 50 years 50 years 25 years Assets under the course of construction are not depreciated. 1.7 Heritage Asset5 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 envirollmental conservation, scientific research, education and 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 account5. Page 11
CASTLE HOWARD ARBORETUM TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 (CONTINUED) Accounting Policies- continued 1.8 Inve5tmentS 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/llossesl 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 discount5 due. 1.10 Cash at Bunk 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 Liabilitie5 rlnd provisions Liabilitie5 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 arnount 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 und areas ofiudgment 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 rnay differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are reco8nised 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 12
CASTLE HOWARD ARBORETUM TRUST IA Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 (CONTINUED) Income from donations and legacies Unrestricted funds 2024 Restricted funds 2024 Endowment funds 2024 Total funds 2024 Total funds 2023 Donations Donation from trading subsidiary Gift Aid IDS Grant Tree Adoptions Memorials Squirrel adoptions and donations Membership 125,366 3,527 63,780 12,000 26,525 5,838 4,139 15,000 140,366 3,527 67,530 12,000 26,525 5,838 4,139 41,401 27,776 9,803 11,000 22,435 3,750 Total 2023 00 Charltable activities Unrestricted funds Restricted funds Endowment funds Total funds Total funds 2024 2024 2024 2024 2023 Arboretum - entrance fees Education income Events and other income Tree Health Centre Income 149,810 6,132 20,375 17,991 149,810 6,132 20,375 17,991 81,303 4,922 19,013 5,834 194 iii Total 2023 iii Page 13
CASTLE HOWARD ARBORETUM TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 (CONTINUED) Investments Unrestricted funds 2024 Restricted funds 2024 Endowment funds 2024 Total funds 2024 Total funds 2023 Investment income Ilisted investrnentsl Interest on Loan Investment income Icashl 9,601 1,600 627 9,601 1,600 627 4,413 1,000 118 li Total 2023 Other income Unrestricted funds 2024 Restricted funds Endowment funds 2024 Total fund5 Total funds 2023 2024 2024 Miscellaneous income 1,175 Total 2023 17 Raising funds Unrestricted funds 2024 Restricted funds 2024 Endowment funds 2024 Total funds 2024 Total funds 2023 Donation5, fundraising, grants & membership costs 02 Total 2023 Page 14
CASTLE HOWARD ARBORETUM TRUST IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 (CONTINUED) Analysis of expenditure on ¢haritable activitles Unrestricted funds Restricted funds 2024 Endowment funds 2024 Total funds Total funds 2023 2024 2024 Arboretum Ray Wood Education Visitor Centre Red Squirrels Tree Health Centre 244,961 9,661 9,253 142,174 10,949 244,961 9,661 14,253 142,174 10,949 226,810 8,424 13,696 104,759 1.315 5,000 502,810 1,551 5,000 Governance Costs 507,810 1,551 414,525 2,250 504 77 Total 2023 41 Analysis of Expendlture by expenditure type Staff costs 2024 Depreciation 2024 Other costs 2024 Total 2024 Total 2023 Expenditure on raising voluntary income 6,102 6,102 12,447 Costs of ruisingfvnds Arboretum Ray Wood Education Visitor Centre Red Squirrels Tree Health Centre 179,319 8,331 12,095 70,840 10,576 56,056 1,330 2,158 61,834 7,264 15,942 244,961 9,661 14,253 142,174 10,949 85,812 226,810 8,424 13,696 104,759 1,315 59,521 9,500 3,685 17,489 52,381 Churitable ortivities 322 976 507 810 414 525 Expenditure on governance 1,551 1,551 2,250 97 41 46 77 Total 2023 24 Page 15
CASTLE HOWARD ARBORETUM TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 {CONTINUED) Analysis of expenditure by activities Activitie5 undertaken directly 2024 Support CQ5t5 2024 Total 2024 Total 2023 Arboretum Ray Wood Education Red Squirrels Visitor Centre Tree Health Centre 166,574 6,174 7,547 9,441 89,395 64,509 78,387 3,487 6,706 1,507 52,779 21,304 244,961 9,661 14,253 10,948 142,174 85,813 244,958 8,424 13,696 1,315 95,355 50,777 Total 2023 12 Analysis of support costs Unrestricted funds Total funds 2024 Total funds 2023 2024 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 expense5 Marketing costs Other 94,857 2,993 8,202 3,701 10,042 8,682 11,682 8,536 450 7,182 15,539 17,796) 94,857 2,993 8,202 3,701 10,042 8,682 11,682 8,536 450 7,182 15,539 17,796) 55,825 1,790 9,473 3.184 7,503 7,102 9,971 1,994 2,555 6,108 17,577 12 io. Governance costs Unrestricted funds 2024 Restricted funds 2024 Endowment funds 2024 Total funds 2024 Total funds 2023 Independent examination fee Trustees, expenses 1,450 ioi 1,450 ioi 2,250 Total 2023 Page 16
CASTLE HOWARD ARBORETUM TRUST (A Company Limited by Guarantee) NOTE5 TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 (CONTINUED) ii. Net income/{expendlture) This is stated after charging: 2024 2023 Depreciation of tangible fixed assets.. owned by the charity Independent examination 41,251 31,984 During the year, no Trustees received any remuneration12023- £NILI. DurinE the year, no Trustees received any benefits in kind12023 £NILI. During the year, l Trustee received reimbursement of expenses of £IOI12023 -ENill. 12. Staff costs Staff costs were as follows.. 2024 2023 Wages and Salaries Social security costs Other pension costs 295,583 17,773 12,220 252,130 15,326 8,098 97 54 The above costs include £3,000 which was included in capital additions in relation to the building of the Red Squirrel Enclosure12023.' £29,000), leaving a net staff cost of £322,97612023- £246,554) in the cost of raising funds Inote 81. The average monthly number of employees was as follows: 2024 No. 2023 13 14 No employee received remuneration amounting to more than £60,000 in either year. Page 17
CASTLE HOWARD ARBORETUM TRUST IA Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 {CONTINUEDI 13. Tangible fixed assets Long-term leasehold property Plant and machinery Office / Workshop Tree Health Centre Red Squirrel enclosure Total At l February 2023 Additions 382,550 221,556 182,772 874,441 84,444 7,685 1,745,763 7,685 At 31 January 2024 382,550 221,556 182,772 874,441 92,129 1,753,448 At l February 2023 Charge for the year 124,640 9,500 205,296 7,184 26,825 3,392 22,518 17,489 379,279 41,250 3,685 At 31 January 2024 134,140 212,480 30,217 40,007 3,685 420,529 Net book value At 31 January 2024 24 94 14. Fixed asset investments Shares in group undertakings Listed securities Total Murket vulue At l February 2023 Proceeds of sale in year Revaluations 349,894 1150,000) 349,895 (150,000) At 31 January 2024 96 96 Historlcal cost 122 Page 18
CASTLE HOWARD ARBORETUM TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 (CONTINUED) SubsldiTary undertoking5 The following were subsidiary undertakings ot the company= Name Holding Arboretum Trust Trading Limited loo% The aggregate of the share capital and reserves as at 31 January 2024 and of the prof it or Ios5 for the year ended on that date *or the subsidiary undertakings were as follows- Aggregate of share capital and reserves Name Profit/llossl Arboretum Trust Trading Limited 15. Debtors 2024 2023 Trade debtors Amounts owed by group undertakings Prepayments and accrued income 10,059 44,025 90,317 4.570 9,147 22,973 44 Amounts owed by group undertakings include £30,66312023.. £29,063) which is due in more than l year. the terms of this loan are fully disclosed in note 22 to these Financial Statement5. Page 19
CASTLE HOWARD ARBORETUM TRUST {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 {CONTINUED) 16. Credltors: Amounts falling due within one year 2024 2023 Trade creditors HSBC Loan Other taxation and social security (see belowl Other creditors Accruals and de*erred income 11,548 9,512 13,957 7,349 7,713 30,183 10,434 12,775 9,512 2,251 17. Creditors: Amounts falling due after one year 2024 2023 HSBC Loan 22,224 30,814 Other taxation and social security 2024 2023 PAYE/NI VAT 2,501 11,456 7.127 5,648 The HSBC Loan Iwhich is a government guaranteed Business Bounce Back Facility) is repayable over a maximum of 5 years commencing l April 2022, interest is charEed on the loan. Page 20
CASTLE HOWARD ARBORETUM TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 (CONTINUED) 18. Statement of funds Statement of funds- current year Balance at i February 2023 Transfers Balance at 31 in/out Gains/ {Lossesl January 2024 Income Expenditure General Funds 1457 464 517 163 510 463 1531200 Endowmentfvnds Howard Fund Howick Fund 145,529 5,884 {8,096) 137,433 {5,884} 151413 18,096 137 433 Restrlrtedfunds Red Squirrel Project Education Shelter Education visits 36,872 20,000 {36,8721 {20,0001 18,750 {5,000) 13,750 Total of funds 16 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 Restrlcted funds Red Squirrel Project represents monies raised for a capital Red Squirrel Project. Education visits represents monies to support school visits. 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 ARBORum TRUST IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 (CONTINUED) 18. Statement of funds- contlnued Statement of funds- prior year Balance at l February 2022 Transfers in/(out) Gains/ Balance at 31 (Losses) January 2023 Income Expenditure General Funds 1602 682 260 386 397 212 1457 464 Endowmentfunds Howard Fund Howick Fund 144,522 5,884 1.007 145.529 5,884 150 406 151413 Restrictedfvnd5 Tree Health Centre Business Red Squirrel Projett Education Shelter 32,010 36,872 132.0101 36,872 20,000 20,000 68,882 Total of funds 621 80 222 Summary of funds- current year Balance at I February 2023 Transfers Inl{outl Gains/ Balance at 31 {Lossesl January 2024 Income Expenditure General funds Endowment funds Restricted funds 1,457,464 151,413 56,872 517,163 (510,463) 62,756 15,884) (56,872) 4,280 18,0961 1,531,200 137,433 13,750 18,750 (5,0001 Summary of funds- prior year Balance at l February 2022 Transfers in/lout) Gains/ Balance at 31 (Losses) January 2023 Income Expenditure General funds Endowment funds Restricted funds 1,602,682 150,406 68,882 260,386 1397,2121 18,3921 1,007 1,457,464 151,413 56,872 20,000 132.0101 21 Page 22
CASTLE HOWARD ARBORETUM TRUST {A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 (CONTINUED) 19. Analysls of net assets between fund5 Analysis of net assets between funds- current year Unrestricted funds 2024 Restricted funds 2024 Endowment funds 2024 Total funds 2024 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Creditors due after one year 1,332,919 58,646 211,938 {50,0791 122,224) 1,332,919 196,079 225,688 (50,0791 122,224) 137,433 13,750 Analysis of net assets between funds- prior year Unrestricted funds 2023 Restricted funds 2023 Endowment funds 2023 Total funds 2023 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Creditors due after one year 1,322,789 204,368 {17,4171 {65,155} {30,8141 1,322,789 349,895 45,339 (65,1551 130,814) 145,529 5,884 56,872 20. Capital commitments At 31 January 2024 the charity had capital commitments as follows.. 2024 2023 Contracted for but not provided in these financial statements 00 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 £12,22012023'. £8,098). Contributions totalling £7,34912023: £9.5121 were payable to the fund at the balance sheet date and are included in creditors. Page 23
CASTLE HOWARD ARBORETUM TRUST IA Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 (CONTINUED) 22. Related partytransartions The charity has a 100% subsidiary The Arboretum Trust Trading Company Limited which gift aids its surplus of £3,52712023= £27,7761 to the Trust. Amounts due from The Arboretum Trust Trading Company Limited of £44,02512023.' £9, 1471, are included within debtors. The amount includes a loan due from the subsidiary company of £25.000 plus interest of £5,663, 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 E4,72312023: £6,230). 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 wa5 James Russell's talented plantmanship and extraordinary planting design that was brought to bear on the creation of the present Arboreturn. 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. 24. Reconciliation of net movement in funds to net cash flow from operating activitles 2024 2023 Net incomellexpenditurel for the year la5 per Statement of financial activities) 16.634 1156,2211 Adjustment for: Depreciation IGainsl/losses on investments Dividends and interest Ilncreasel/decrease in debtors IDecreasel/increase in creditors under one year IDecreasel in creditors over one year 41,250 3,816 111,8281 {107,711) (15,076) 31,984 7,385 15,5311 17,653 42,610 Net Cash used in operating actiViTties 81 431 25. Analysis of cash and cash equivalents 2024 2023 Cash at bank and in hand Total 287 Page 24