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2021-12-31-accounts

REGISTERED COMPANY NUMBER: 03163187 (England and Wales) REGISTERED CHARITY NUMBER: 1053446

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 FOR THE GARDENS TRUST

Able & Young Ltd Chartered Certified Accountants Airport House Purley Way Croydon Surrey CR0 0XZ

THE GARDENS TRUST

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

Page
Report of the Board of Trustees 3 to 7
Independent Examiner's Report 8
Statement of Financial Activities 9
Balance Sheet 10 to 11
Notes to the Financial Statements 12 to 20
Detailed Statement of Financial Activities 21 to 22

2

THE GARDENS TRUST

REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number 03163187 (England and Wales)

Registered Charity number 1053446

Registered office

70 Cowcross Street London EC1M 6EJ

Trustees

Christopher Blandford Sarah Dickinson Dr Marion Harney Virginia Hinze (resigned on 03.09.21) Peter Hughes QC Dr Sally Jeffery David Lambert (resigned on 03.09.21) Dr David Marsh Maureen Nolan Thadian Pillai (resigned on 03.09.21) Rachel Savage Paul Titcombe Peter Waine Elizabeth Watson Ex-officio and non-voting members of the Board: Chloe Bennett Joanna Davidson * Refers to trustees who completed their term of office on 03.09.21 pursuant to Article 34.2 of the Articles of Association, but were co-opted to serve until the next Annual General Meeting by the Board on 03.09.21 pursuant to Article 37.1 to fill vacancies on the Board.

Company Secretary Maureen Nolan

Independent examiner Rekha Shah Association of Chartered Certified Accountants Able & Young Ltd Chartered Certified Accountants Airport House Purley Way Croydon Surrey CR0 0XZ During the year Averillo & Associates merged with Able & Young and now practise under that name

Bankers Barclays Bank plc Leicester LE87 2BB

CAF Bank Limited PO Box 289 West Malling Kent, ME19 4TA

3

THE GARDENS TRUST

REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

REPORT OF THE BOARD OF TRUSTEES

The Board of Trustees (who are also Directors for the purposes of the companies law) present their Annual Report together with the Financial Statements of The Gardens Trust ("the Charity") for the year ended 31 December 2021.

The Trustees confirm that the Annual Report and financial statements of the Company comply with the current statutory requirements, the requirements of the Company's governing document and the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities", further details being set in the accounting policies.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Constitution

The Company is a charitable company limited by guarantee constituted under Articles of Association, as amended by Special Resolution dated 24 July 2015, and is a Registered Charity number 1053446, Registered Company number 03163187 (England and Wales).

Method of election of Board of Trustees

Board members are elected for a three-year term of office and are then required to retire at the next Annual General Meeting but are eligible for re-election for a further three-year term. The names of those who are due to retire and wish to stand for reelection to the Board are listed in the papers for the Annual General Meeting .

Policies adopted for the Induction and Training of Board Members

Newly elected Trustees are provided with copies of the previous Annual Report and Financial Statements, the Trust's Articles of Association, the Trust's Business Plan, the Risk Register, Trust policy documents, Minutes of previous Board meetings and Charity Commission advice on the duties of Trustees. All Trustees serve on Committees or otherwise have responsibilities within the Trust in addition to serving as Trustees.

Organisational structure

The Board has Committees responsible for: Conservation; Audience Development, Marketing, and Communications and Education and Training. The Board also has a Steering Group as required by the terms of grant funding provided by the National Lottery Heritage Fund., which acts as a Management Committee. The Board meets quarterly, with additional ad-hoc meetings as required, and the Committees and Steering Group meet on a regular basis.

In 2021, the Trust had a complement of staff comprising: an administrator; finance officer; Strategic Development Officer; two conservation case workers & a conservation case logger; and two Volunteer Support Officers. During the year, assisted by the NLHF grant, the Trust recruited an Audience Development and Engagement Officer . All staff are employed part-time.

OBJECTIVES AND ACTIVITIES

1. Charitable objectives

The objects of the Charity are for the public benefit:

2. Public benefit

The Board of Directors, as Trustees, confirm that they have complied with the duty in Section 4 of the Charities Act 2006 to have due regard to the Charity Commission's general guidance on public benefit.

'We have:

4

THE GARDENS TRUST

REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

ACHIEVEMENT AND PERFORMANCE

CHAIRMAN’S REPORT

This is my second annual report since becoming Chairman of the Board of Trustees. 2021 will be remembered as the year dominated by the pandemic. Normal day-to-day life was significantly affected and restricted by periods of lockdown. By its end there was a general feeling of weariness and desire for some return to normality. As I write this report almost midway through 2022, whilst the impact of Covid appears to have receded – at least for the moment - fresh anxieties have come to the fore; in particular the situation in Ukraine and the resulting impact on the global economy. The unwelcome return of inflation will provide additional challenges for charities such as ours.

The work of the Trust in 2021 centred on the project supported by the National Lottery Heritage Fund to review our operations, make us more independent and resilient as an organisation, and increase public awareness of the value of what we do and widen and diverse support for our activities. The project enabled us to recruit Frankie Taylor as Audience Development and Engagement Officer, and with the financial support provided by the lottery, we have been able to engage consultants to help us plan for the future. We are now at about the mid-point in the project and developing a business plan to set out our strategy for the next three years and beyond. Work on the project has been led by our vice-chair, Chris Blandford with assistance from another trustee, Paul Titcombe, and we are grateful for the time and effort that they have put into it.

The pandemic had a material bearing on the operation of the Trust in 2021. The office at Cowcross Street was closed, staff worked from home, and Board and committee meetings were all held on Zoom. In September, our long-serving Administrator, Louise Cooper, gave notice that she intended to step down from her position at the end of the year. We had planned to meet face-to-face for the first time since March 2020 at the December meeting of the Board, and to hold a small party afterwards to say thank you to her and to present her with a leaving gift. Sadly, we had to abandon the face-to-face meeting and the party because of a rise in Covid cases. Louise Cooper made a significant contribution to the work of the Gardens Trust, and to its predecessor, the Garden History Society over many years. As part of her leaving present, we made her an honorary life member of the Trust, and we hope that she will continue to be involved in the Gardens Trust for many years to come.

Following Louise Cooper’s decision, the Board reviewed the Trust’s staffing structure. We decided to create a new position of Head of Operations and Strategy and to invite Linden Groves to accept the appointment. She took up her new role with effect from the 1[st] January 2002. It is a key role within the organisation, leading the Trust’s complement of staff, and is our first fulltime appointment. Like Louise Cooper, Linden Groves has made a significant contribution to the work of the Gardens Trust and we wish her well in her new role. To provide her with administrative support, the Board decided to create a new part-time position of Administration and Membership Officer. The successful candidate, Catherine Ford took up her role in mid-June 2022.

An important part of the work of the Administration and Membership Officer will be to maintain the membership records of the Trust. Since the Trust was formed, the responsibility for maintaining our membership records has been out-sourced to our printers, the Lavenham Press. The disadvantage of this is that we do not have direct control of the records and the ability to ensure that they are kept up-to-date. This is vital now that so much personal information is stored digitally. During 2021, the Board explored the feasibility of bringing the records ‘in house’ and the decision has since been taken to do this. Our Finance Officer, Teresa Forey, has done a great deal of work on organising the migration of the membership records and finding the best software system for this. We are extremely grateful to her, and to the work of the Audience Development, Membership, and Communications Committee and its Chair, Rachel Savage, for all that they have done to make this possible. Catherine Ford will work alongside Teresa Forey on the process of completing the work required to migrate the membership records and to ensure that we have accurate information for all our members.

The volume of planning applications referred to the Trust in its role as statutory consultees continued to grow in 2021, and the number of high-profile and controversial applications, which require the most careful attention, is increasing. The responsibility on the shoulders of our Casework Officers, Margie Hoffnung and Alison Allighan, and our Casework Logger, Daniel Bowles is immense. They are much assisted by County Gardens Trusts up and down the country, and without their support, they would not be able to handle all the increasing volume of work. The members of the Conservation Committee, chaired by Sarah Dickinson, play a vital part too, and their remit during 2021 involved wider considerations of topical issues such as reform in the planning system, environmental protection, and climate change.

5

Notwithstanding the impact of the pandemic, the Trust’s accounts and balance sheet for 2021 provide a robust and sound financial picture. Much of this is due to two factors. One is the wise and careful financial management of our Treasurer, Lisa Watson. The other is the continuing success of our online programme of lectures. These have gained the admiration of other charities who have seen with envy the resourcefulness of what the Gardens Trust has provided. We are pleased to see that others have sought to follow our lead. An exceptionally wide and diverse range of subjects was covered during 2021. It included contributions from County Gardens Trusts, as part of our theme focussing on Unforgettable Gardens, featuring gardens in their area. The online programme has enabled up to reach out to people in the United Kingdom and abroad, who would otherwise not be aware of us or what we do, and it has been a financial lifeline during the pandemic.

We owe a huge debt of thanks to the chair of our Education and Training Committee, Dr David Marsh, his team of volunteers, who organise, administer, and compere the lecture programme, and to all those who have been willing to take part in the programme and share with us their knowledge and expertise. The intention is that we will maintain and develop our online programme and that it will continue to be an important part of what we offer to our members and to a wider audience.

During 2021, we began the process of reviewing all our policies and procedures, under the lead of our Company Secretary and Trustee, Maureen Nolan. She has the experience of working for other organisations in the charitable sector, and her knowledge and expertise has been invaluable. It is an ongoing process which we plan to complete by the end of 2022. In my first annual report, I referred to the need to revise our Articles of Association and the impact of the ‘six year’ rule on the retirement of trustees who took office when the Trust was formed in 2015. To manage the process, a number of trustees required to retire in 2021, agreed to stay on the Board as co-opted members until this year’s AGM. At this year’s Annual General Meeting, we say good-bye to a number of trustees who have given invaluable service to the Trust and helped to guide it through its crucial formative years since 2015; Sarah Dickinson, Marion Harney, Sally Jeffrey, and Peter Waine. Although they will no longer be on the Board, we hope that they will continue to contribute to the work of the Trust. We also say good-bye to Paul Titcombe, who is leaving the Board because of the increasing demands of his work. He only became a trustee in the early days of the pandemic and all his meetings have been on Zoom, and never face-to-face. He has, though, made a valuable contribution because he has provided us with fresh ideas from his wide experience of corporate business.

The Trust has undertaken two recruitment exercises for new trustees. One for a new Treasurer to replace Lisa Watson. The other to fill general vacancies on the Board. We were encouraged to receive applications from an excellent range of candidates. The Board is recommending the appointment of five new trustees to the Annual General Meeting; Mary Davis with a view to succeeding Lisa Watson as Treasurer, Deborah Evans, Clare Hickman, Jill Sinclair and Paul Rabbitts. Their biographical details are to be found in the accompanying notice of the AGM. They provide a wide range of knowledge and experience. Together they will provide the Board with fresh minds and fresh ideas as we plan for the future. Lisa Watson, Maureen Nolan, and Dr David Marsh have all completed their terms of office, but have agreed to stay on the Board as co-opted members for a period. This is because of their key roles, and the need to provide continuity for the new Board in a time of transition.

Finally, I would like to pay tribute to my fellow Board members, to all our volunteers who assist us in our work in a variety of ways - serving on committees, delivering our online programme and promoting the GT on social media - and to all our staff. They have done a terrific job in exceptionally difficult times, and they have been unstinting in the help and support they have given me.

Peter Hughes QC

6

THE GARDENS TRUST

REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

FINANCIAL REVIEW FOR THE YEAR ENDED 31 DECEMBER 2021

In 2021 the Gardens Trust achieved a surplus before investment gains/losses of £50,787. This exciting figure was largely a result of the continuing success of the programme of on-line lectures, talks and presentations. The Trust also benefitted from a donation of £10,000 from the Sanderson Foundation. There were economies enforced by on-going pandemic restrictions and resulting adjustments to our ways of working. We were able to invest in additional staff time during 2021 and now are able to look forward to consolidating the structure in the coming year.

The Gardens Trust has continued to benefit from support from Historic England funding, not only in respect of our statutory casework and County Gardens Trusts support activities, but also in other project work. The Engaging with our Future project, funded by the National Lottery Heritage Fund, continues apace.

Overall our investments fared well and the valuation of our investments at market rates at the end of the year showed unrealised net gains of investment of £32,183. So I am delighted to report that total funds have increased to £618,540 at year-end 2021, from £535,570 at year-end 2020, which reflects net income for the period of £82,970.

Lisa Watson, Honorary Treasurer

STATEMENT OF THE BOARD OF DIRECTORS RESPONSIBILITIES

The trustees (who are also the directors of The Gardens Trust for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Risk Management

Following Charity Commission guidance, the Board has adopted a Risk Management Policy and agreed a Risk Register. This is monitored and reviewed annually and actions agreed to manage significant risks. The Board has reviewed the Risk Register during the year and agreed actions to address or mitigate the identified significant risks.

Approved by order of the Board of Trustees on 20[th] June 2022 and signed on its behalf by:

Peter Hughes QC – Chairman

7

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE GARDENS TRUST

Independent examiner's report to the trustees of The Gardens Trust ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2021.

Responsibilities and basis of report

As the charity's trustees of the Company (and also 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 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 your charity's accounts as 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 your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Institute of Chartered Accountants in England & Wales which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

  2. 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

  3. 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.

Rekha Shah Association of Chartered Certified Accountants Able & Young Ltd Chartered Certified Accountants Airport House Purley Way Croydon Surrey CR0 0XZ

Date: 4[th] July 2022

8

THE GARDENS TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021

2021 2020
Unrestricted Restricted Total funds Total funds
funds funds
Notes £ £ £ £
INCOME AND ENDOWMENTS FROM
Subscriptions and donations 2 73,290 - 73,290 93,731
Charitable activities
Grants receivable
Historic England - 103,980 103,980 102,881
Historic England Projects - 2,500 2,500 19,198
Heritage Lottery Fund - Repton - - - 8,250
Other Projects - 63,610 63,610 16,886
Publications 5,639 - 5,639 6,990
Other trading activities
Advertising 1,872 - 1,872 2,070
Events 118,513 - 118,513 36,011
Investment income 3 10,340 - 10,340 11,771
Total 209,654 170,090 379,744 297,788
EXPENDITURE ON
Raising funds 4 4,130 - 4,130 3,785
Charitable activities
Events 59,240 - 59,240 12,244
Wages and salaries 42,815 132,038 174,853 149,556
Printing and distribution 23,606 - 23,606 22,902
Membership 7,695 - 7,695 7,729
Office management costs 5 23,111 - 23,111 18,523
Other support costs 5 6,710 - 6,710 7,050
Historic England - - - 7,301
Historic England Projects - 130 130 12,356
Heritage Lottery Fund - Repton - - - 8,309
Other Projects 29,481 29,481 15,550
Total 167,308 161,649 328,957 265,305
NET INCOME / (EXPENDITURE) BEFORE GAINS 42,345 8,441 50,787 32,483
AND LOSSES
Net gains on investments 32,183 - 32,183 5,381
NET INCOME/(EXPENDITURE) 74,528 8,441 82,970 37,864
RECONCILIATION OF FUNDS
Total funds brought forward 534,041 1,529 535,570 497,706
TOTAL FUNDS CARRIED FORWARD 608,569 9,970 618,540 535,570

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

9

THE GARDENS TRUST

BALANCE SHEET AT 31 DECEMBER 2021

2021 2020
Unrestricted Restricted Total funds Total funds
funds funds
Notes £ £ £ £
FIXED ASSETS
Tangible assets 10 63,715 - 63,715 63,715
Investments 11 494,881 - 494,881 456,602
558,596 - 558,596 520,317
CURRENT ASSETS
Debtors 12 41,041 - 41,041 3,169
Cash at bank and in hand 71,445 - 71,445 49,203
112,486 - 112,486 52,372
CREDITORS
Amounts falling due within one year 13 (52,542) - (52,542) (37,119)
NET CURRENT ASSETS 59,944 - 59,944 15,253
TOTAL ASSETS LESS CURRENT LIABILITIES 618,540 - 618,540 535,570
CREDITORS
Amounts falling due after more than one year 14 - - - -
NET ASSETS 618,540 - 618,540 535,570
15
FUNDS
Unrestricted funds 608,569 534,041
Restricted funds 9,970 1,529
TOTAL FUNDS 618,540 535,570

10

THE GARDENS TRUST

BALANCE SHEET - CONTINUED AT 31 DECEMBER 2021

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 22 June 2021 and were signed on its behalf by

Peter Hughes QC -Chairman

11

THE GARDENS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2020)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

No depreciation is provided for on the Trust's library as, in the Board's opinion, the library will be maintained in perpetuity.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Board in furtherance of the general objectives of the company and which have not been designated for any other purpose.

Designated funds comprise unrestricted funds that have been set aside by the Board for a particular purpose. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the company for particular purposes. The cost 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.

12

THE GARDENS TRUST

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021

1. ACCOUNTING POLICIES - continued

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date.

Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction.

Exchange differences are taken into account in the Statement of Financial Activities.

Company status

The company is a company limited by guarantee. The directors of the company are the Board members named in the reference and administrative details. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.

Investments

Investments are stated at market value at the balance sheet date. The statement of Financial Activities includes the net gains and losses arising on revaluations and disposals throughout the year.

Investments are held for the long-term to generate income or capital growth.

2. SUBSCRIPTIONS

Donations
Subscriptions
CGT Insurance surplus		 2021
£
13,329
58,048
1,913
73,290		 2020
£
29,579
61,540
2,612
93,731

Subscription income includes a gift aid tax reclaim of £4,098 (2020: £4,178).

3. INVESTMENT INCOME

Dividends and interest from investments
Interest receivable on liquid investments		 2021
£
10,267
72
10,340		 2020
£
11,676
95
11,771

13

THE GARDENS TRUST

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021

4. RAISING FUNDS

Investment management costs

Investment management fees 2021
2020
£
£
4,130
3,785

5 SUPPORT COSTS

Management
£
Conservation travel and subsistence
-
Office and Trustees' travel and subsistence
-
Postage and stationery
-
Depreciation
-
Insurance
-
IT
4,729
Bank charges
1,347
Office sundries
751
Rent
6,840
Communications advisor
8,330
Legal Fees
1,114
Independent Examiner
-
Bookkeeping
23,111		 Other
£
-
-
2,678
-
-
-
-
-
-
-
-
3,600
432
6,710		 Totals
2021
£
-
-
2,678
-
-
4,729
1,347
751
6,840
8,330
1,114
3,600
432
29,821		 Totals
2020
£
629
289
2,136
-
650
2,996
1,171
1,336
6,840
5,530
-
3,600
396
25,573

6. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Depreciation - owned assets 2021
£
-		 2020
£
-

7. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.

Trustees' expenses

There were no trustees' expenses reimbursed for the year ended 31 December 2021.

14

THE GARDENS TRUST

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021

8. STAFF COSTS

Wages and salaries
Social security costs
The average monthly number of employees during the year was as follows:
Management and administration
Conservation		 2021
£
164,493
10,360
174,853
2021
2
5
7		 2020
£
139,863
9,693		 2020
£
139,863
9,693
149,556
2020
2
5
7

No employees received emoluments in excess of £60,000.

9. 2020 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted Restricted Total funds
funds funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 93,731 - 93,731
Charitable activities
Grants receivable - 147,215 147,215
Publications 6,990 - 6,990
Other trading activities 38,081 - 38,081
Investment income 11,771 - 11,771
Total 150,573 147,215 297,788

15

THE GARDENS TRUST

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021

9. 2020 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued

Unrestricted Restricted Total funds
funds funds
£ £ £
EXPENDITURE ON
Raising funds 3,785 - 3,785
Charitable activities
Events 12,244 - 12,244
Wages and salaries 42,856 97,007 139,863
National insurance 3,001 6,692 9,693
Printing and distribution 22,902 - 22,902
Membership 7,729 - 7,729
Other management costs 18,523 - 18,523
Other support costs 7,008 42 7,050
Historic England - 7,301 7,301
Historic England Projects 12,356 12,356
Other Projects 15,550 15,550
Heritage Lottery Fund - Repton - 8,309 8,309
Total 118,048 147,257 265,305
Net gains on investments 5,381 - 5,381
NET INCOME/(EXPENDITURE) 37,906 (42) 37,864
RECONCILIATION OF FUNDS
Total funds brought forward 496,135 1,571 497,706
TOTAL FUNDS CARRIED FORWARD 534,041 1,529 535,570

16

THE GARDENS TRUST

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021

10. TANGIBLE FIXED ASSETS

COST
At 1 January 2021
Scrapped
At 31 December 2021
DEPRECIATION
At 1 January 2021
Eliminated on scrapping
At 31 December 2021
NET BOOK VALUE
At 31 December 2021
At 31 December 2020		 Library
Furniture,
fixtures &
fittings
Computer
equipment
£
£
£
63,715
14,778
10,327
-
-
(10,327)
63,715
14,778
-
-
14,778
10,327
-
-
(10,327)
-
14,778
-
63,715
-
-
63,715
-
-		 Totals
£
108,820
(10,327)
78,493
25,105
(10,327)
14,778
63,715
63,715

The library comprises books and journals donated to the Trust from time to time and is valued at the estimated cost when donated. The library is housed at the Library of the University of Bath, BA2 7AY and the Library of the University of York, YO10 5DD.

11. FIXED ASSET INVESTMENTS

Listed
investments
Unlisted
investments
£
£
MARKET VALUE
At 1 January 2021
456,102
500
Additions
155,551
-
Disposals
(140,348)
-

Revaluations
23,076
-
At 31 December 2021
494,380
500
NET BOOK VALUE
At 31 December 2021
494,380
500
At 31 December 2020
456,102
500		 Totals
£
456,602
155,551
(140,348)
23,076
494,880
494,880
456,602

There were no investment assets outside the UK.

Unlisted investments comprises a Pen and Wash painting that was donated in earlier years and is included at its estimated market value.

17

THE GARDENS TRUST

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021 2020
£ £
Other debtors 41,041 3,169
41,041 3,169
13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£ £
Social security and other taxes 6,425 4,393
Accruals and deferred income 46,117 32,726
52,542 37,119
Accruals and deferred income for 2020 includes grants received from Historic England in respect of the
following year.
14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£ £
Accruals and deferred income - -
15. MOVEMENT IN FUNDS
Net movement
At 1.1.21 in funds At 31.12.21
£ £ £
Unrestricted funds
General fund 324,387 74,528 398,915
Library Fund 63,715 - 63,715
Fighting Fund 30,758 - 30,758
Fund for Conservation 112,341 - 112,341
College Lectures 2,840 - 2,840
534,041 74,528 608,569
Restricted funds
Historic England - - -
Other Projects - 8,441 8,441
Frank Clark 1,000 - 1,000
G Drummond Volunteer Award 529 - 529
1,529 8,441 9,970
TOTAL FUNDS 535,570 82,970 618,540

18

THE GARDENS TRUST

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021

15. MOVEMENT IN FUNDS – continued

Net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement in
resources expended losses funds
£ £ £ £
Unrestricted funds
General fund 209,654 (167,308) 32,183 74,528
College Lectures - - - -
209,654 (167,308) 32,183 74,528
Restricted funds
Historic England - - - -
Other Projects 170,090 (161,649) - 8,441
G Drummond Volunteer Award - - - -
170,090 (161,649) - 8,441
TOTAL FUNDS 379,744 (328,957) 32,183 82,970

Comparatives for movement in funds

Net movement
At 1.1.20 in funds At 31.12.20
£ £ £
Unrestricted funds
General fund 285,939 38,448 324,387
Library Fund 63,715 - 63,715
Fighting Fund 30,758 - 30,758
Fund for Conservation 112,341 - 112,341
College Lectures 3,382 (542) 2,840
496,135 37,906 534,041
Restricted funds
Historic England - - -
Frank Clark 1,000 - 1,000
G Drummond Volunteer Award 571 (42) 529
1,571 (42) 1,529
TOTAL FUNDS 497,706 37,864 535,570

19

THE GARDENS TRUST

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement in
resources expended losses funds
£ £ £ £
Unrestricted funds
General fund 150,573 (117,506) 5,381 38,448
College Lectures - (542) - (542)
150,573 (118,048) 5,381 37,906
Restricted funds
Historic England 147,215 (147,215) - -
G Drummond Volunteer Award - (42) - (42)
TOTAL FUNDS 297,788 (265,305) 5,381 37,864

The purpose of each material fund may be summarised as follows:

Designated funds:

The Library Fund comprises books and journals donated to the Trust from time to time.

The Fighting Fund comprises funds designated by the Board as such from time to time to help build a general reserve.

The Fund for Conservation comprises gifts to the Trust designated to be held to support the Trust's objectives in conservation work.

The College Lecture Fund is designated to be used for educational purposes.

The G Drummond Volunteer Award Fund was contributed by CGTs.

General funds:

The General fund represents net assets of the charity that are not Designated Funds or Restricted Funds.

Restricted funds:

The grant from Historic England has been applied to conservation and localism work in England.

The Frank Clark Fund contains a grant to be used towards work on a publication of the life and work of the Trust's founding President, Frank Clark.

16. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2021 or 2020.

20

THE GARDENS TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021

INCOME AND ENDOWMENTS
Subscriptions and donations
Donations
Subscriptions
CGT Insurance surplus
Other trading activities
Advertising
Contributions from member's events etc.
Investment income
Dividends from investments
Interest receivable on liquid investments
Charitable activities
Publications
Grants receivable
Total incoming resources
EXPENDITURE
Investment management costs
Investment management fees
Charitable activities
Wages and salaries
Events
Printing and distribution
Membership
Historic England Projects
Historic Lottery Fund - Repton
Support costs
Management		 2021
£
13,329
58,048
1,913
73,290
1,872
118,513
120,385
10,267
72
10,339
5,639
170,090
175,729
379,744
4,130
174,583
59,240
23,606
7,695
29,611
-
295,006
23,111
23,111		 2020
£
29,579
61,540
2,612
93,731
2,070
36,011
38,081
11,676
95
11,771
6,990
147,215
154,205
297,788
3,810
149,556
12,244
22,902
7,729
35,207
8,309
235,947
18,523
18,523

21

THE GARDENS TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021

Other
Conservation, travel and subsistence
Office and Trustees’s travel and subsistence
Postage and stationery
Bookkeeping
Independent Examiner
Depreciation of tangible fixed assets
Total resources expended
Net income before gains and losses
Realised and unrealised gains and losses
Net realised gains/(losses) on fixed asset investments
Unrealised gains/(losses) on revaluations of fixed assets investments
Net income		 2021
£
-
-
2,678
432
3,600
-
6,710
328,957
50,787
9,107
23,076
82,970		 2020
£
629
289
2,136
396
3,600
-
7,050
265,305
32,483
4,731
650
37,864

22