REfJSTERED COMPANY NUMBER: 03163187 (England and Wale5) REGISTERED CHARITY NUMBER: 1053446 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 FOR THE GARDENS TRUST Able & Young Ltd Chartered Certified A(cntantS AirFort House Purley Way Croydon Surrey CRO OXZ
THE GARDENS TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Page Report of the Board of Trustees 3to7 Independent Examiners Rewrt Statement of Finarla[ ACtItIeS Balance Sheet 10t011 Notes to the Financial stateffnt5 12to20 Detailed Stateff*nt of Financial Activities 21to22
THE GARDENS TRUST REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 REFERENCE AND ADMINISTRATIVE DAlLs Registered Cornpany number 03163187 IEngland and Wales) Reglstered Charfty number 1053446 Reglstered office 70 Cowcr055 Street London EC1M 6EJ Trustees Christopher John Blandford Deborah Jane Evins Dr Clare Hickman Peter Thomas Hughes KC Dr Sally Roberta Jeffery {re5igned 8th September 2022. reappointed pllrsLiant to Ariicle 37.1 1st lanuary 2023) Dr David john Edward Marsh (resigned W September) Maureer) Patricia Nolan {re5igned f September pursuant to Artide 37.1) Catriona Stenhouse (appointed W September 2023) Francesca Murray (Ippointed f September 2023) Paul Anthony Rabbitts Rachel Jane Savage Gillian Sian Sinclair Elizabeth Jane Watson Ex officio and nOtyOting members of the Board: Joanna Elizabeth Davidson Company Secretary Catriona Stenhouse Independent examiner Rekha Shah Able & Young Ltd Chartered Certified Accountants Airp)rt House Purley Way Croydon Surrey CRO OXZ Bankers Barclays Bank plc Leicester LE87 2BB CAF Bank Limited PO Box 289 West Malling Kent. ME19 4TA
THE GARDENS TRUST REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 REPORT OF THE BOARD OF TRUSTEES The Board of Trustees Iwho are also DireCtc$ for purEM)5es of companies lawl present their Annual Report together with the Finanaal Statements of The Gardens Trust ("the Charity-} for the year ended 31 December 2023. The Trustees confirm that the Annual Rewrt and financial staten*nts of the Company comply with the current statutory requirements, the requirements of the Company5 governing docurrent and the provisions of the Statement of Recommended Practice ISORPI '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 electfon of Board of Trustees Board mernber5 are elected for a three-year term of offi-ce and are then required to retire at the next Annual General Meeting but are eligible for re-electIc for a further three-year temi. The natTES of those wh) are due to retire and wish to stand for re- election to the Board are listed in the paper5 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 Rewrt and Financial Statements, the Trust's Articles of Asx)ciation, the Trust's Busine55 Plan, the Risk Register, Trust policy docurrents, Minutes of previous Board meeting5 and Charity Commission advice on the duties of Trustees. All Trustees see on Committees or ot¥1$e have resp)nsibilities within the Trust in addition to serving as Tmstees. Organisational structure The Board has Committees resp)nsible for- Conservation- Audience DeveloprrEnt, Marketing, and Communications and Education and Training. In 2002, the Board also had a Steering Group as required by the terms of grant funding provided by the National Lottery Heritage Fund. This acted also as a Management Committee and from the 1st January 2023, it was replaced by a Management Committee comprising the Officers and the Chairs of Committees. The Board meets quarterly, with additional ad- hoc meetings as required, the Managerrent Committee rts rnthly, normally on the second Friday of the month, and the Committees meet on a regular basis. By the end of 2022, the Trust had a complerrEnt of Staff compri5ing= Head of Operation5 and Strategy- Administration and Membership Officer,. Finance Officer. Conservation Officer. Casework Manager,. Assistant Casework Manager. Audience Development and Engagellt Officer and three Volunteer Support Officer5. one of whom wa5 engaged during the year on a specific project assisted by a grant from Historic England. All staff apart from the Head of Operations and Strategy were employed part-time. OBJECnVES AND AcllviTIES Charitable objectives The objects of the Charity are for the wblic benefit= to promote the study of the history of gardens and gardening, landscape gardening and horticulture in all its aspects. to promote the protection and conservation of historic park5. gardens and designed landscapes and to promote and advise on their conservation. to prornote the County Garden5 Trusts and thr¢)ugh tFEm. educatr"on. appreciation and involvement of the public in matters connected with the arts and sciences of Garden Land; and to encourage the creation of new parks. gardens and designed land5caFE. Public benefit The Board of Directors, as Trustees, confimi that have complied with duty in Section 4 of the Charities Act 2006 to have due regard to the Charity Commission's general guidarKe on public benefi.t.
THE GARDENS TRUST REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 ACHIEVEMENT AND PERFORMANCE CHAIRMAN'S REPORT This is my fourth annual repjrt as Chairman of the Board of Trustees. 2023 has to tE seen a5 a year of challenge and change for all those organisations involved in the charitable sector and the Gardens Trust is no exception. It was the year in which, in some respects, life began to return to normal after the Covid pandemic, tt in other respects new challenge5 emerged. These included an unwelcome return to high inflation, a cost of living crisis affecting charitable wving, and, of even nK)re acute concern, a much nK>re dangerous world with war in Europe and in OCtor 2023. fresh conflict in the Middle East. As national charities £0, the Gardens Trust 15 a relatively small organisation. but it has an imFQrtant part to play as the voice for the country's rich heritage of parks and gardens and for their protection and conservation. It is the only charity which is exclusively dedicated to this. It has a special role as the only statutory con5ultee in the planning system which speaks solely on behalf of the designed landsca rather than buildings and archaeological remains. We have always had to fight for our voice to be heard, and with the pressure for rnore house iKJilding and the development of large envir1)nEntal project5 such as solar farm5, we will need to shout all the louder in the future. To fulfil our charitable objectives, we dend on a small and dedicated team of staff, trustees, and volunteers. Just as vital, though, 15 the supw)rt we receive from our ThErnber5, tx)th indiwdual members and the thirty Six County Garden5 Tru5t5 and the Welsh Historic Gardens Trust. In the past, we have received essential financial assistance from grants, provided mainly by Historic England. The national financial climate, though, is now such. that thi5 source is no longer as dependable or generous a5 in the past. We must look for alternative means of financial SUPFrt)rt. This includes our EMrS, SUPFX)rters, and other initiatives to raise funds. During 2023 the restrictions of the Covid pandemic were gradually relaxed but life did not just return to pre-pandemic normality. The pandemic disrupted estIng networks and pattems of doing things. Teams of volunteers had been disbanded and needed to be re- fomied. In-person events had been suspended and when they could be re-intrcKJuced, tEople had got out of the habit of attending events. Some still felt a reluctance to mix. Online talks and events, which had been such a lifeline during lockdowns, whilst still popular, were less-well supported. In comrrL)n wth other charities, the Gardens Trust has faced financial challenges coming out of the pandemic. In my last annual rewrt, I referred to the 1mplenntatIOn of our strategic Business Plan and the need carefully to manage our resources, and the need to rely to a limited extent on our reserves. Our objective was to provide a sound and resilient platform from which to build the future of the organisation. There are a number of priorities for the future of the Trust that have been identified. One is in relation to our role as Statutory consultees in the planning system. The number of planning applications has grown year-on- year and there is an increasing number of sensitive and controversial protx)sals. Our conservation team do an incredible job but we need to expand our team to ensure that we can rrEet the trden of the work for the future. ANJther is to grow our membership, to tind new ways of explaining what we do and why it is imwrtant, and to encourage younger people to join us. A third is to broaden our financial appeal. We cannot rely on rreMr5hiP 5ubscriptr.ons alone. In 2023 we appointed our first fund raising officer, Tara Hamdi. She has considerable exFtrience in the field and is working on ways to attract new sources of financial support. Our trustees knew that 2023 was always going to be a difficult year as we implemented the Business Plan. It has, though proved more challenging than anticipated. Thi5 has been. in part, because of the economic and financial climate but a150 a consequence of the pandemic. We have been obliged to rely on our reserves to a greater extent than we had planned for and would have wished. The altemative would have trten to scale back on our actiwtie5 and plan5 for the future. The Board considered that thi5 would have been a retrograde step, and that our underlwng financial p)sition was sufficiently secure for us to avoid taking such aSureS. It does, t)Ugh, add to the urgency for the future of raising our own fund5 and reducing our dependerKy on 5UPFK)rt from public funds. On the w51tive side, though, 2023 wa5 also a year of achievement for the Garden5 Trust. More information can be found in our Impact Report for the year and the committee rep)rts on Conservation, Audience Development, Marketing and Communications, and Education and Training. In brief, though, we received 777 planning consultations affecting registered parks and gardens and submitted 545 written responses. These were the highest figures ever. Our conservation team, Margie Hoffnun£, Alison Allighan, and Daniel Bowles, and meMrS of the Conservation Committee chaired by Chris Blandford, and our volunteers in the County Gardens Trusts around the country did an amazing job. We successfully used scKial media to engage with authences we would othernise not reach and alert them to what we do and why it is so important for the future. There were over 145.CKM) visitors to our weekly blog and an incredible 224,851 views of posts on social media. In addition we provided training for 660 volunteers. This success owes much to Frankie Taylor, our Engagement Officer, and the members of our Audience Development Committee chaired by Rachel Savage. The attendance figures for our programme of online and in Ferson lectures and events for the year exceeded 12,(XKJ. These achieverrents would not have been possible without the hard work of the Education and Training Committee chaired by Sally Jeffery, supwrted by a team of volunteers helping to produce the online talks. In addition. we continued to publish Garden History. the GT New5 and the online Ebulletin, thanks to the support and commitment of Barbara Simms, editor of Garden History, Susannah Charlton and Charlotte Cassel. Sally Jeffery retired as both a trustee and chair of the Education and Training Comrnittee at the end of the year, txjt will continue to 5UPPOrt the work of the committee. We are immensely grateful to her for her contribution over many years.
Towards the end of the year, Chris Blandford inforrned rre that he needed to reduce his cornmitrnent5 and relinquish his role as Vice- ChaTr of the Board of Tnjstees and chair of the ConseNation Committee. This is a decision that he took with reluctance. As Chairman, I have benefited f rom hi5 experience and Sound advice. He ha5 alx) made a huge contribution through his work leading the proce5S to create the Business Plan and through chairing the Conservation Committee. Happily we will not be losing him entirely and he has agreed to continue to serve a5 a trustee. This will be my last annual report. I have chaired the Board for four years through a period of significant change for the Trust. It 15 due time for someone younger to take the helm. Someone who can provide new vigour and lead the Trust forward. In 2025, the Gardens Trust will celebrate its tenth birthday, and by the of the 2025 Annual General Meeting, the Board of Trustees will have a new chair. It has been a priwlege to serve as a trustee and to chair t Trust. I look foNard to the Gardens Twst continuing to grow in stature over the years to come and to prowde a strong voice for garden history, for the protection of our rich heritage of parks and gardens, and for their conservation for the benefit and enjoynEnt of future generations. Peter Hughes KC
THE GARDENS TRUST REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 FINANCIAL REVIEW FOR THE YEAR ENDED 31 DECEMBER 2023 In 2023 the operating outcome for the Gardens Trust was a negative figure of I£115.756}, before gainsllosses. This was broadly in line with what was expected. As in the pre5 year, we ded to increase our investment in staff hours, although we would have been grateful for a mre realistic level of grant funding given the scott of activity required. The Gardens Twst has continued to benefit from supwrt from Historic England funding, Th)t only in respect of our statutory casework and County Gardens Tmsts SUPFX)rt activities, but also in other projert work, such as the very popular Suffolk's Unforgettable Gorden Story research project. We delivered our Lottery-Funded Engaging with our Future project. Our Historic England-funded Volunteers Save Spocel Project has been very successful in finding ways to engage new IOPle th historic park and garden volunteering. The Gentian Trust was very generous in facilitating the Gardens Trust to fund other small projects. The value of our investment5 began to rise again, and at the end of the year our net gain was £8,638. Taking account of this increase and our 0ratIng loss the negative outcome for the year was (£107,118), with total funds carried fOard of £418,333. Lisa Watson. Honorary Treasurer STATEMENT OF THE BOARD OF DIRECTORS RESPONSIBIUTIES The trustees Iwho are also the directors of The Gardens Trust for the wrw)ses of company lawl are resw)nsible 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 re9)urce5 and application of resources. including the income and expenditure, of the charitable company for that period. In preparing those finarla[ statements, the trustees are required to select suitable accounting FL)licies and then apply them consistently. obsetve the methods and principles in the Charity SORP; make Judgerrents and estimates that are reasonable and prudent- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. 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 finanaal statements comply wth the Companies Act 21x16. They are also reswnsible 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 Cornmission guidance. the Board ha5 adopted a Risk Kinagerrent Policy and agreed a Risk Register. This 15 monitored and reviewed annually and actions agreed to manage significant risks. The Board has reviewed the Risk Register during the year and agreed action5 to addre55 or mitigate the identified 5ignifi.cant ri5k5. Approved by order of the Board of Trustees on 9th July 2024 and signed on its behalf b Peter Hughes QC- Chairman
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE GARDENS TRUST Independent exarniner's report to the trustees of The Gardens Trust Ithe Compan> I report to the charity tnjstees on my examination of the accounts of the Company for the year ended 31 December 2023. Responsibilities and basis of report As the charitys trustees of the Company land also its directors for the purwses of company lawl you are reswnsible for the preparation of the accounts in accordance with the requirents of the Companie5 Act 2006 {'the 2006 Act'l. 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 rewrt in respect of my examination of your charitys accounts as carried out under section 145 of the Charities Act 2011 1.the 2011 Act'}. In carwng out my examination I have followed the Directions given by the Charity Commission under section 145151 Ibl of the 2011 Act. Independent examiner's statement Since your charitys gross incorrE exceeded £250.(KKJ your examiner must be a rrember of a listed body. I can confimi that l am qualified to undertake the examination because l am a registered tTEmber of the AsscKiation of Chartered Certified Accountants which 15 one of the listed trKKh"es. I have completed my examination. I confi.rm that no matter5 have come to my attention in connection with the examination giving cause to believe: accounting records were Th)t kept in respect of the Company as required by section 386 of the 2CQ6 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 2CK16 Act other than any requirement that the accounts give a true and fair view which 15 not a matter considered a5 part of an independent examination; or the accounts have not been prepared in accordance with the thodS and principles of the Statement of RecOmEnded Practice for accounting and rep)rting by charities lapplicable to charities preparing their accounts in accordance with the Financial Rewrting Standard applicable in the UK and Republic of Ireland IFRS 10211. I have no concerns and have come acr055 no other matters in connection Vrfith the examination to which attention should be drawn in this rewrt in order to enable a proper understanding of the accounts to reached. Rekha Shah Association of Chartered Certified Accountants Able & Young Ltd Chartered Certitied Accountants Airport House Purley Way Croydon Surrey CRO OXZ Date: July 2024
THE GARDENS TRUST STATEMENT OF FINANCIAL AcnvmES FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Total funds Unrestricted funds Restricted funds Total funds Notes INCOME AND ENDOWMENTS FROM Subscriptions and donations 80,660 64,889 Historic England Historic England Projects Other Projects 124,897 124,897 1¢X),925 2,500 40.965 5,404 Publications 7.658 7,658 18,752 Advertising Events InVeStEnt Inco 906 67,647 11,902 1,182 96,510 11,434 67,818 11,902 Total 168.944 134,301 303,245 337,160 EXPENDITURE ON Raising funds Charitable attltieS Events 3,426 3,426 4,022 39,428 39,428 46,313 Wages and salaries Printing and distribution Membership offi.ce rnanagernent costs 93,833 21,842 2,430 36.152 179,995 273,828 21,842 2,430 36.152 225,339 38,708 8,385 24.536 Other sUPPOrt C05t5 Other Projects 3,960 37,935 4,241 22,987 12,277 25,658 Total 213,349 205,652 419,CQ1 374,591 NET INCOME I (EXPENDITURE) BEFORE GAINS AND LOSSES .44.405 -71,351 -115,756 -37,431 Net gain511105sesl on investEnts 8.638 8,638 -55,657 NET INCOMEI{EXPENDITURE) -35.767 -71.351 -107,118 -93,088 RECONCILIATION OF FUNDS Total funds brought forward 558.915 -33,467 525,451 618,540 TOTAL FUNDS CARRIED FORWARD 523.150 -104,818 418,333 525,451 CONTINUING OPERATIONS All income and expenditure has arisen from continuing activities.
THE GARDENS TRUST BALANCE SHEET AT 31 DECEMBER 2023 2023 Total funds 2022 Total funds Unrestricted funds Restricted funds Notes FIXED AsSs Tangible assets Investments 63,715 337.961 63,715 337,961 63,715 437,748 10 401.676 401,676 501,463 CURRENT ASSETS PrepayEnt Debtor5 Cash at bank and in hand 1,187 50,823 6,731 1,187 50.823 6,731 34,332 44,175 58.741 58,741 78,507 CREDITORS AnuntS falling due wthin one year 12 142.0851 142,0851 154,5191 NET CURRENT ASss 16,656 TOTAL ASSETS LESS CURRENT UABIUTIES 418.333 418,333 525,451 CREDITORS AnK)unts falling due after mre than one year 13 ASS5 418 333 418 333 525 451 14 FUNDS Unrestricted fund5 Restricted funds 523,150 -104,818 558,915 -33,467 TOTAL FUNDS 418,333 525 451 10
THE GARDENS TRUST BALANCE SHEET- CONTINUED AT 31 DECEMBER 2023 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2CQ6 for the year ended 31 December 2023. The member5 have not required the charitable company to obtain an audit of its financial statenEnts for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006. The directors acknowledge their reswnsibilities for la ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of State of affairs of the charitable company as at the end of each finanaal year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2LNJ6 relating to financial statements, so far as applicable to the charitable company. Ibl These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial 5taternent5 were approved by the Board of Tru5tee5 and authorised for i55ue on 9th July 2024 and were signed on its behalf by Peter Hughes QC -chairnn
THE GARDENS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING pouaES 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 Rewrting by Charities: Statement of R0MMended Practice applicable to charities preparing their accounts in accordance with the Financial Retx)rting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20201., Finanthal ReFX)rting Standard 102 The Financial Rewrting Standard applicable in the UK and Republic of Ireland. and the Companies Act 2CN)6. The finanthal 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 15 recogni5ed in the Staterrent of Financial Activities once the charity has entitlement to the funds, it is probable that the income will received and the aUnt can be measured reliably. Expenditure Liabilities are recogni5ed a5 exkEnditure a5 soon a5 there 15 a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic tenefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals ba515 and has been classitied under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to actr"vitie5 on a basis cons1Stent with the use of resources. Tangible fixed assets Depreciation is provided at the follong annual rates in order to write off each asset over its estimated useful life. Furniture, fi'xtures & fittings - 25% on reducing balan 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 corForation 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 fund5 comprise unre5trirted fund5 that have trEen Set aside by the Board for a particular purpose. The aim and use of each designated fund is set out in the rteS to the fIarla1 stateffEnts. Restricted funds are funds which are to te used in accordance with specific restrictions imposed by donors which have been raised by the company for particular purFK)ses. The cost of raising and administering such funds are charged against the SFEcific 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 2023 ACCOUNTING pouaES - continued Foreign currencies Monetary assets and liabilities dencffiinated 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 statu5 The company is a company limited by guarantee. The directors of the company are the Board members nand in the reference and adrninistrative details. In the event of the compary being w(xJnd up. the liability in respect of the guarantee is limited to £1 per nmber of the company. Investments Investments are stated at market value at the balance sheet date. The Statent of Financial Activities includes the net gain5 and 1055es arising on revaluations and di5wsa15 throughout year. Investments are held for the long-term to generate income or catal growth. SUBSCRIPTIONS 2023 2022 tk)nations Subscriptions CGT Insurance surplus 27,412 52,690 558 55,981 268 INVESTMENT INCOME 2023 2022 Dividends and interest from investments Interest receivable on liquid investments 11,648 254 11,282 152 11,902 11,434 13
THE GARDENS TRUST NOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2022 RAISING FUNDS Investment management costs 2023 2022 Investment management fees 3,426 4,022 SUPPORT COSTS Totals 2023 Totals 2022 ManageEnt Other Postage and stationery IT Bank charges Office sundries Rent Communications advisor Independent Examiner Exchange difference okkeeping 6,391 12,567 798 8,694 4.020 3,635 6,391 12,567 798 8,694 4,020 3,635 3,960 48 2,278 3,235 1,291 3,585 4,467 9,680 3,780 461 36,152 40,112 28,777 TRUSTEES. REMUNERATION AND BENEFrrs There were no trustees. rerratIOn C other benefits for the year ended 31 December 2023 nor for year ended 31 December 2022. Trustees. expenses There were rK) tru5tee5' expenses re1mlr5ed for the year ended 31 December 2023. 14
THE GARDENS TRUST NOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2023 STAFF COSTS 2023 2022 Wages and salaries Social security c05t5 251,855 207,137 273,828 225,339 The average nnthlY number of employees during the year was as follows: 2023 2022 Managet and admini5tratr.on ConseNation 10 10 No employees received enK>luments in excess of 0.[. 2022 COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcllviTIES Unrestricted fund5 Restricted funds Total funds INCOME AND ENDOWMENTS FROM tk)nations and legacies Charitable actItieS Grants receivable Publications 64,889 64,889 144,390 144,390 18,752 18,752 Other trading actiwties InVeStEnt income 97,692 97,692 Total 192,767 144,390 337,160 15
THE GARDENS TRUST NOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2023 2022 COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcllviTIES - continued Unrestricted Restricted funds funds Total funds EXPENDITURE ON Raising funds Charitable attltTe$ Events Wa£e5 and salaries National insurance Printing and distribution Membership Other management Costs Other support costs Historic England Historic England Projects Other Projects Heritage Lottery Fund - Repton 4,022 4,022 46,313 60,559 46,313 225,399 164,840 38,708 8,385 24,536 4,241 38,708 8,385 24.536 4,241 22.987 22,987 Total 186.764 187,827 374,591 Net gains on investments -55,657 -55,657 INCOMEI{EXPENDITURE) -49,654 -43,437 -93,088 RECONCIUATION OF FUNDS Total funds brought forward 608,569 9,970 618,540 TOTAL FUNDS CARRIED FORWARD 558.915 -33,467 525,451 16
THE GARDENS TRUST NOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2022 TANGIBLE FIXED ASss Furniture, fixtures & fitting5 Computer eqUIpent Library Totals COST At 1 January 2022 At 31 December 2023 63.715 DEPRECIATION At 1 January 2022 At 31 December 2023 NET BOOK VALUE At 31 December 2023 At 31 December 2022 63.715 63,715 The library comprises books and joumals donated to the TNst from titTE to time and is valued at the estimated C05t when donated. The library 15 housed at the Library of the University of Bath, BA2 7AY and the Library of the University of York, Y010 5DD. 10. FIXED Ass INVESTMEltrs Listed inve5trrents Unlisted inve5trnent5 Totals MARKET VALUE At 1 January 2023 Addition5 Diswsals Revaluations 437,248 101.998 1210,423} 8,638 5LIJ 437,748 101,998 1210,4231 8,638 At 31 December 2023 337,461 5(KJ 337 961 NET BOOK VALUE At 31 December 2023 337,461 337,961 At 31 December 2022 437 248 5LIJ 437 748 There were no investment assets outside UK. Unlisted investments comprises a Pen and Wash painti 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 2023 DEBTORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2023 2022 Other debtors 52,010 34,332 52,010 34,332 12. CREDITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2023 2022 ial security and other taxes Accnjals and deferred income 8,673 33,412 6,303 48,216 Accmals and deferred income for 2023 includes grants received from Historic England in respect of the follng year. 13. CREDITORS: AMOUF5 FALUNG DUE AFtER MORE THAN ONE YEAR 2023 2022 Accruals and deferred income 14. MOVEMENT IN FUNDS Net movement in fund5 At 1.1.23 At 31.12.23 Unrestricted funds General fund Library Fund Fighting Fund Fund for Conservation College Lectures 349.261 63,715 30,758 112,341 -35,767 313,494 63,715 30,758 112,341 558,915 -35,767 523,150 Restricted funds Other Projects Frank Clark G DruMnd Volunteer Award -34,996 -71,351 -106,347 529 529 -33.467 -71,351 -104,818 TOTAL FUNDS 525.451 -107,118 418,333 18
THE GARDENS TRUST NOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2023 14. MOVEMENT IN FUNDS- continued Net rnvement in funds, included in the aLe are as follows= Incoming resource5 Resources expended Gains and Movement in 1055es fund5 Unrestricted funds General fund 168.944 213,349} 8,638 -35,767 168.944 {213.349} -35,767 Restricted funds Historic England Other Projects 124,897 1159,261 } 46.391 } -34,364 -36,987 134,301 1205,652) 71,351 TOTAL FUNDS 303,245 419,(K11 } -107 118 Comparatives for movernent in fund5 Net movement in funds At 1.1.22 At 31.12.22 Unrestricted funds General fund Library Fund Fighting Fund Fund for ConseNation College Lecture5 398,915 63,715 30,758 112,341 2,840 -49.654 349,261 63,715 30,758 112,341 608,569 -49,654 558,915 Restricted funds Historic England Other Projects Frank Clark G DrumrTh)nd Volunteer Award 8,441 -43,437 -34,996 529 529 9,970 -43,437 -33,467 TOTAL FUNDS 618,540 -93,088 525,451 19
THE GARDENS TRUST NOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2023 Comparative net movement in funds, included in the atrmjve are a5 follows: Incorning resources Resource5 expended Gain5 and losses Movernent in funds Unrestricted funds General fund 192.767 186,764} -55,657 -49,654 192.767 {186,764} -55,657 -49,654 Restricted funds Historic England Other Projects 144.390 187.827} 187 827) TOTAL FUNDS 337.160 374.591 } -55,657 -93,088 The purFK)se of each material fund may be summarised as follows: Degnated funds: The Library Fund comprises and journals donated to the Trijst from time to tin. 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 comprise5 gifts to the Trust designated to be held to supwrt the Twst's objective5 in conservation work. The College Lecture Fund is designated to be used for edUCati(al purp)ses. The G Dnjmmond Volunteer Award Fund was contritrmjted by CGTS. General funds: The General fund represents net assets of charity that are not Designated Funds or Restricted Funds. Restricted funds: The grant from Historic England has teen applied to Corer¥atIon and IalIsM 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. 15. RELATED PARTY trfSCLOSURES There were no related party transactions for the year ended 31 Decemtser 2023 or 2022. 20
THE GARDENS TRUST DETAILED STATEhlENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 INCOME AND ENDOWMENTS Subscriptions and donations tk)nations Subscriptions CGT Insurance surplus 27,412 52,690 558 55,981 268 80.660 64.889 Other trading activities Advertising Contribution5 from memberfs events etc. 906 67.818 1,182 96,510 68,724 97,692 Investment income Dividends from investments Interest receivable on liquid investments 11,648 254 11,282 152 11.902 11,434 Charitable activities Publications Grants receivable 7,658 136,856 18,752 144,390 144,514 163,142 Total Incomlng resources 303,245 337,160 EXPENDITURE Investment management costs Investment management fees 3,426 4,022 Charitable activitie5 Wages and salaries Events Printing and distribution Membership Historic England Projects 273,828 39,428 21,842 2,430 225,399 46,313 38,708 8,385 374,468 345,814 Support costs Management 36,152 24,536 36.152 24,536 21
THE GARDENS TRUST DETAILED STATEhlENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Other Independent Examiner 3,960 3,960 Total resource5 expended 419.CK)1 374,591 Net income l (expenditure) before gains and losses -115,756 -37,431 Reallsed and unreallsed galns and losses Net realised gain51llossesl on fixed asset investrrents Unrealised gainslllossesl on revaluations of fixed assets inveStntS 6.145 2,493 2,506 -58,163 Net Income l (expenthture) -107 118 22