## **PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY**
Annual Report and Financial Statements
Year Ended 31 March 2022
Company Number: 3166339 (England & Wales) Charity Number: 1059559 (England & Wales) Charity Number: SC038951 (Scotland)
**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
## **Contents**
- 2 Reference and Administrative Details
- 3 Trustees’ Report
- 17 Auditor’s Report
- 21 Financial Statements
- 25 Principal Accounting Policies
- 29 Notes to the Financial Statements
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**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
## **Reference and Administrative Details**
## **Patron**
HRH The Prince of Wales
## **President**
Philip Mould OBE
## **Vice President**
Rachel de Thame
## **Chair**
Prof David Hill CBE
## **Vice Chair**
Dr Tim Stowe
## **Treasurer**
Ann Rowswell **Other Trustees**
Clive Aslet Richard Benyon MP _Resigned 13 May 2021_ Patrick James _Appointed 15 December 2021_ James Jansen _Appointed 15 July 2021_ Timothy Jones _Appointed 15 July 2021_ Dr Jill Kowal _Appointed 15 December 2021_ Hien Vi Luong _Appointed 15 July 2021_ Philippa Lyons _Resigned 23 August 2021_ Anthony Payne _Appointed 15 December 2021_ Robin Payne _Resigned 15 July 2021_ Dr Rosetta Plummer Helen Priday _Resigned 15 July 2021_ Sally Thomas _Appointed 15 July 2021_
**Chief Executive** Ian Dunn
## **Registered name**
Plantlife International – The Wild Plant Conservation Charity
## **Principal and Registered Office**
Brewery House, 36 Milford Street, Salisbury, Wiltshire, SP1 2AP
## **Company Number**
3166339
**Charity Number (England & Wales)** 1059559
## **Charity Number (Scotland)**
SC038951
## **Website**
www.plantlife.org.uk
## **Twitter**
@Love_plants
## **Facebook**
@LovePlantlife
## **Instagram**
plantlife.loveplants
## **LinkedIn**
Plantlife International
## **Auditors**
Azets Audit Services, Athenia House, 10-14 Andover Road, Winchester, Hampshire, SO23 7BS
## **Principal bankers**
Unity Trust Investment Bank, Nine Brindley Place, 4 Oozells Square, Birmingham, B1 2HB
## **Investment managers**
Investec, Quayside House, Canal Wharf, Leeds, LS11 5PU
## **Solicitors**
CMS Cameron McKenna Nabarro Olswang LLP, Cannon Place, 78 Cannon Street, London, EC4N 6AF
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**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
## **Trustees’ Report**
The Trustees of Plantlife International present their Annual Report for the year ended 31 March 2022 including the Directors’ and Strategic Reports, together with the audited financial statements for the year.
The financial statements have been prepared in accordance with the accounting policies set out on pages 25 to 28 and comply with the charity's Articles of Association, the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016).
## _**Structure and charitable objects**_
## **Constitution**
Plantlife International - The Wild Plant Conservation Charity _(hereafter referred to as Plantlife)_ is constituted as a company limited by guarantee, registered in England number 3166339. It is a charity registered with the Charity Commission in England and Wales under charity number 1059559 and with the Office of the Scottish Charity Regulator under charity number SC038951.
The trustees have no interest in the shares or debentures of the company, nor any right to subscribe for such shares or debentures. Plantlife is governed by its Articles of Association.
Established in 1989, Plantlife International is dedicated to conserving plants and fungi in their natural habitats and helping people to enjoy and learn about them.
## **Charitable Objects**
The objects of Plantlife are set out in its Articles of Association and are to:
- promote and undertake, for the public benefit, the conservation of plants
- educate the public so as to increase their knowledge, understanding and appreciation of plants and fungi, and their awareness of their value and the need for their conservation
- promote and undertake, for the public benefit, the establishment and maintenance of places of botanical interest for the cultivation and preservation of plants
- promote, organise and undertake study and research in the principles and practice of the conservation of plants and fungi and their uses, provided that all the useful results of such research shall be published
- promote such other charitable objects or charitable purposes which are conducive to the aforesaid objects, as the Board may from time to time in its discretion determine.
Plantlife is increasingly aware of the importance of fungi in the delivery of it objects and has therefore included mention of fungi in the above.
## **Plantlife Trading Limited**
The Charity has one subsidiary company – Plantlife Trading Limited (PTL). Plantlife Trading Limited delivers a range of chargeable services and non-core activities, always with the furtherance of Plantlife's mission at its heart. As a wholly owned subsidiary of Plantlife, PTL abides by Plantlife’s policies and procedures. The work of the subsidiary is overseen by a board of directors which is accountable to its shareholder – Plantlife - with day-to-day management delegated to its managing director.
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**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
## **Public Benefit**
The trustees confirm that they have given due regard to the Charity Commission’s guidance on public benefit and have considered how our aims and activities demonstrate this, in fulfilling our charitable objects. Plantlife provides multiple benefits for the public which are wide-ranging and long-lasting, including:
- Free access to all of our nature reserves across the UK
- Influencing policy and politicians for the benefit of a healthier natural world
- Campaigning for positive change: NoMowMay, road verge management, removing peat from commercial use, reducing nitrogen pollution in our rivers and on land
- Botanical training course and engagement opportunities
- Public speaking and lecture series
- Broad communications on plants and fungi across many media platforms
- Enabling partner organisations to be as effective as possible in plant and fungi conservation
- Speaking up for plants and fungi
## **Custodian Trusteeship**
No assets were held as custodian trustee during this reporting period or any other.
## _**Governance and management**_
The directors of the company, who are the charity trustees, form the Board of Plantlife which is the governing body for the organisation.
## **Appointment and Induction of Trustees**
The directors (who are also referred to as board members and trustees), are elected for a maximum seven-year term, with an initial period of four years followed by a possible reappointment for a further three years. Board members who stand down after their initial period of appointment ends are eligible for re-election unless they have served two successive periods, in which case they can only be re-elected as a trustee in exceptional circumstances. They may be re-elected as Chair, Vice Chair or Treasurer. Board members elect the Chair, ViceChair and Treasurer, at their next meeting following the AGM.
New trustees are recruited in accordance with the board member recruitment policy, which aims to promote open and inclusive recruitment and identifies the attributes, skills and expertise looked for in potential trustees. The policy works in tandem with the procedure for nomination of new members to the Board. Trustee vacancies are advertised widely in public environmental and charitable arenas. Applicants are shortlisted for interview by the Chair and two other trustees, and those chosen as a result of the interview process are appointed after receipt of satisfactory references. This enables the suitability of potential trustees to be assessed with reference to the particular skills needed at that point in time and ensures that they understand the role of board member before final confirmation of their nomination is made.
Once elected, new trustees follow a formal induction programme, including meeting the members of the staff team. New trustees also receive an introduction on becoming a charity trustee and company director. Trustees are provided regularly with internal and external information relevant to charity law and governance. In addition, the Board aims to identify knowledge gaps through a regular skills audit alongside its annual performance review process.
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**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
## **The Working of the Board and its Committees**
Trustees are responsible for the proper governance of the Charity and determine the strategy and policy to be undertaken in accordance with the objectives as stated in the Articles of Association. They seek to achieve the objectives whilst at the same time ensuring that the Charity is not exposed to undue risk. The Charity's risk management strategy includes the procedures and actions required to mitigate the risks identified. The risk management strategy is reviewed regularly by the Board. Our trustees all give their time voluntarily.
The Charity has a Finance and General Purposes Committee (F&GP), chaired by the Treasurer with three other Board members, and attended by the Chief Executive and other key members of staff. Committee members are appointed annually by the Board at the first Board meeting after the AGM. The Committee meets quarterly to monitor and provide advice on financial and operational issues, to monitor the internal controls of the Charity and to ensure regular reporting to the Board. The Committee also fulfils some of the functions required under the procedure for nomination of new members of the Board.
The Board delegates the day-to-day running of the Charity to the Chief Executive, who is supported by the staff team and the volunteers. The Chief Executive provides the Board with an operational report four times a year and between Board meetings works closely with the Chair and Officers on matters of governance and strategic issues. The Chief Executive works with the members of the Senior Management Team (SMT) and other members of staff to oversee the implementation of Plantlife's strategies and policies. The members of the SMT during the year were:
Ian Dunn _Chief Executive_ Nicola Hutchinson _Director of Conservation_ Nicola Savage _Director of Finance & Operations_ Joanna Bromley _Director of Communications (resigned October 2021)_ Vickie Wood _Director of Fundraising & Marketing (appointed October 2021)_
The directors consider that the key management personnel of the Charity include the Board of directors, who are also the charity trustees. No director received any remuneration in the year. Details of directors’ expenses are disclosed in note 9 to the accounts. The other key management personnel are the SMT. The pay of the SMT is determined according to the pay and remuneration policy, which aims to provide appropriate incentives to encourage enhanced performance and to reward staff fairly and responsibly for their individual contributions to Plantlife’s success. Pay reviews aim to match increases in the cost of living and to keep step with others in the sector by benchmarking against pay levels in similar conservation organisations. Any pay increases are agreed by the Chief Executive and the directors.
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**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
## _**Mission and strategy**_
## **Mission Statement**
Our mission is to secure a world rich in plants and fungi. Underpinning the health of our environment, wild plants and fungi are the foundations upon which we can help resolve the climate, ecological and societal challenges we face.
## **Strategy to 2030**
Plantlife launched its new strategy during this year. It recognises that we face three urgent challenges in the coming decade: a climate crisis, alongside an ecological and societal one. We have put the planet on a path to a warmer world. We continue to destroy diversity in our plant, fungi and animal kingdoms. Only three per cent of the UK’s meadows survive compared with their area less than a century ago. We have lost our connection with nature and its power to sustain mental and physical wellbeing.
**----- Start of picture text -----**
ecological societal
crisis crisis
plants and fungi
bring positive
change
climate
crisis
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The global response to the Covid-19 pandemic has shown what society is capable of when faced with a major disruptive threat. As existential threats, climate change and biodiversity loss are even more serious to humankind. They will make living on our planet ever more challenging to our populations and to us as individuals, unless we take radical action now. Plantlife is a cutting-edge, innovative conservation charity with a track record of success. Across arable farmland, heathland, coastal dunes, ancient woodlands, grasslands and wetlands, we are driving great gains for nature. From the open spaces of our nature reserves to the corridors of governments, Plantlife works nationally and internationally to raise the profile of wild plants and fungi, to celebrate their beauty and to protect their future.
Plants are now showing us the impact of a warming world and they are a warning that all is not well. Plants and fungi can also help us to put this right and, we can help them by restoring the habitats that were commonplace for generations before us.
Plantlife has a unique opportunity to encourage people everywhere to be part of the solution. We know how to protect, restore and strengthen species and habitats. By working in partnership with those who care for our countryside, those who farm the land, re-wild it, those who are protecting our wonderful landscapes, building new homes and designing new cities, we can help to re-balance our world. We can help us all be part of the solution and we all need to be so.
Together we can re-build a healthy natural world and our relationship with it. This will be the focus of Plantlife’s work in the coming decade - plants and fungi are central to doing so.
In this strategy period Plantlife will:
1. Protect and restore the diversity of wild plants and fungi to enhance our countryside, towns and cities.
2. Connect people with nature to improve wellbeing and inspire action to save species and their habitats.
3. Work in partnerships so that all people and all sectors of society can contribute to tackling the climate and nature crisis we face.
4. Collaborate and influence on the world stage to empower societies across the globe to help protect plants and fungi.
Successful delivery of this strategy will lead to a world full of colour, beauty and life – from inner cities to our wildest places. Plants, and the animals that depend on them, will thrive and be connected in every way possible.
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**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
## _**Achievements and performance**_
2021/22 was another very busy year for Plantlife’s staff, volunteers and partners, resulting in the delivery of amazing conservation whilst grappling with the myriad challenges facing the world today. Initial progress has been made under each of our strategic priority areas, and firm foundations established upon which future achievements will be built.
## **1. Protect and restore**
Plantlife was the beneficiary of two major Green Recovery Challenge Fund awards. _Meadow Makers_ focused on restoring 500 hectares of meadows over 100 sites and developing the skills of six trainee meadow makers, whilst _Juniper_ is working to restore healthy populations of one of the three species of native conifers in the south of England, where they have been in steep decline for many years.
After a two-year hiatus due to Covid-19 we were able to recommence work on our nature reserves to protect the rare species and assemblages of plants present across the sites.
## **2. Connect people with nature**
During our two month-long lecture series we were joined by over 15,000 participants who were entranced, enthralled and enthused by a variety of presentations covering topics ranging from lichens to soils, and bryophytes to the secret messages within flowers. Thousands more participated in our citizen science programmes – surveying Waxcaps and Cowslips, taking part in _Every Flower Counts_ and participating in the Breckland flora group. Our on-going engagement programmes continued to connect people with nature in many different ways and locations, from the Cairngorms in Scotland to the West of England and throughout Wales. Our membership grew by over 25% in the year and many more individuals and companies supported our appeals and communications. _NoMowMay_ , a Plantlife initiative, gained significant momentum in the year with many people recognizing that the small differences they make - such as not mowing their lawns for a month – can have hugely beneficial outcomes both for plants and pollinators.
We continued to enhance our Welsh language capability with 40% of our 10 staff in Wales having some degree of Welsh fluency, and one of our trustees has Welsh as their first language. Our new strategy for Wales identifies strengthened communications in Welsh as a key component of connecting with local communities.
## **3. Work in partnerships**
We deliver much of our impact through our partnership and enabling work. Our existing partnerships include all the main environmental and conservation NGOs in the UK and in this financial year we have strengthened our relationships with the corporate sector and private landowners. A good number of our nature reserves are managed in collaboration with neighbouring landowners to secure the best possible conservation outcomes.
As a member of _Rethink Nature_ - a collaboration of seven species focused conservation organisations, and the various environment Link consortia in England, Wales and Scotland, we are able to amplify our influence and environmental impact.
Notable partnership conservation projects in the year include the _Alliance for Scotland’s Rainforests_ and _Dynamic Dunescapes._ The highly acclaimed _Back from the Brink_ multi partner project focusing on species conservation reached its conclusion during the year.
## **4. Collaborate and influence**
Plantlife was delighted to be awarded Observer status for the COP (Conference of the Parties) negotiations and actively participated in preparation for and attendance at COP 26 in Glasgow, thereby giving a voice to plants. As
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**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
part of this initiative, we launched a collaborative approach called Grasslands+ alongside Butterfly Conservation and the Bumblebee Conservation Trust, motivating nearly 8,000 people to write letters of support for plant habitats, and grasslands in particular, to their constituency MPs in the run-up to the event. We were delighted that, for the first time, the COP communiques gave greater recognition to the role of nature in responding to the climate crisis. We strengthened both our policy team and our international team in the year. In policy terms our focus was on protections for peat, reducing nitrogen pollution and on farming practices beneficial to nature. Internationally we were instrumental in delivering the review of the European Progress towards the Global Strategy for Plant Conservation and in the work of the Global Partnership for Plant Conservation.
Our publication _Securing the Future of Scotland’s Biodiversity_ in preparation for the Scottish Parliamentary Elections of May 2021 was very well received and much of its content adopted across the political spectrum.
## **Carbon and climate-related issues**
Plantlife recognises the importance of reducing and ideally removing greenhouse gas emissions from its activities at all sites across the UK. We will endeavour to understand and monitor our scope 1, 2 and 3 emissions and put a plan in place to eliminate and reduce emissions from all of these sources. Plantlife believes that a Carbon Net Zero policy of removing as much carbon or more than it emits is of greater importance than a Carbon Neutral policy, as the latter can simply be achieved by a payment to offset emissions instead of removing carbon from the atmosphere.
Plantlife is at an early stage in its journey of understanding its climatic impact and how it can reduce its footprint on the world. We have identified our carbon emitting activities and are capturing data on these annually. Our measured carbon emissions under scopes 1 and 2 of the Greenhouse Gas Protocol for the year 2020/21 were 7.19 tonnes. This exercise will be repeated annually and actions implemented to reduce emissions wherever possible. In 2021 we took the step of down-sizing our office footprint by over 30% both in response to changes in working patterns associated with Covid-19 and to minimize the climate impact of our office space.
Our responsible purchasing policy seeks to source the purchase of goods and services that minimise negative and enhance positive impacts on the environment and society whilst meeting our operational requirements. By incorporating social, environmental and ethical considerations into purchasing decisions we endeavour to make a positive contribution to the environment and society.
## **Income Generation**
Our income generation strategy is based on diversification of income sources to manage risk. Grants, individual giving, legacies and trusts provide most of our income, with other sources making contributions. These include businesses, merchandise, consultancy, advertising, nature reserve rents and tenancies and community fundraising. Investment income, including dividends and interest, is earned through holding assets for investment purposes. Whilst we wish to maintain and grow all our income streams, our strategy is to invest in those where we see the best combination of growth potential, sustainable unrestricted income and sufficient return on investment.
Major grant givers, trusts and foundations have funded a considerable amount of plant and fungi conservation this year. We are very grateful for the support of The National Lottery Heritage Fund, the Esmee Fairbairn Foundation, Natural England, the Welsh Government, Natural Resources Wales, NatureScot, and many others. We know that many of these funders and partners have increasing demand on their support, so we are grateful to them for trusting us to deliver great projects with high impact.
The vast majority of our conservation work is done in partnership with other organisations and individuals. We provide our expertise and work with them to implement action on the ground. The expenditure and associated income on these projects are often reflected in their accounts, not Plantlife’s, so turnover alone is not an accurate
**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
measure of impact. We are very grateful to the many organisations who have carried out plant conservation activities with us this year.
We would not be able to carry out our work without the help of thousands of individuals. Their donations fund our core work, and we are immensely grateful to everyone who helps us achieve such a major positive impact on plant conservation.
## **Our People**
None of this work would be possible without our fantastic staff, volunteers and trustees. The variety of skills and expertise they possess is amazing – we have botanical experts across a raft of specialisms, professionals in finance, HR, communications and advocacy and expert administrators, all meaning we can make the best possible use of our funding and resources. Plantlife is extremely proud of all its people.
Staff operate within a departmental structure, comprising Communications, Engagement and Income Generation; Finance and Operations; and Conservation. The majority of our staff are out-posted in various locations around the UK, with the remainder based at our head office in Salisbury. During the year we have refined our hybrid working arrangements, and those staff previously situated in office space are now benefitting from mixed working arrangements.
The achievement of conservation impact is dependent upon people. To that end, we have this year increased our core conservation staff headcount, enhancing the breadth of skills within the team. Staff turnover has increased this year after the hiatus resulting from the pandemic, with 18 people moving on to other opportunities and 17 new members of staff joining the team.
During the year our staff averaged a full time equivalent of 54 people, and we employed a headcount of 66 people at the end of the year.
The generous contribution of volunteer days supporting our plant surveys, awareness raising, plant conservation and business activities is instrumental in enabling the achievement of our conservation targets. After the interruption in volunteering opportunities caused by the Covid-19 pandemic last year, we are beginning to return to pre-pandemic levels, with our volunteers providing 2,056 days of support in this period; when costed (at £450 per day for professional level support, £250 per day for skilled and £100 per day for unskilled) this is the equivalent of £471,225 worth of contributions.
The Trustees would like to thank all staff and volunteers for their hard work and dedication throughout the year.
## **Covid-19 pandemic**
With the ongoing impact of Covid-19 still affecting opportunities for public engagement in person, Plantlife continued to run its highly successful digital engagement programme with _Spring Into Action_ and _Fall Into Nature_ both reaching increased levels of participation. As Covid-19 related restrictions started to ease we were able to work in the field again with volunteers, the public and land managers.
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**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
## _**Financial review**_
## **Results for the Year**
2021/22 was a really positive year for Plantlife, maintaining total funds whilst developing and investing in forward looking strategies to help build resilience for the future. Our result – net income of £359k – was a commendable outcome given another difficult year for the world as a whole and illustrates the growing recognition of the enormous importance of global environmental issues.
## **Income**
Income from conservation activities increased by 24% to £2,348k _(2020/21: £1,898k)._ This includes grants received to directly fund specific conservation projects, together with income earned through our consultancy work. Two of our major projects for the year – _Meadow Makers_ and _Juniper_ - were financed by the Green Recovery Challenge Fund, which was delivered by the National Lottery Heritage Fund in partnership with Natural England and the Environment Agency. Notable amongst our other funders were EU LIFE Programme and the National Heritage Lottery Fund as part of the _Dynamic Dunescapes_ partnership, and the Welsh government supporting meadows projects in Wales.
We are fortunate to have a loyal and growing membership base, and were pleased to see an increase in member numbers during the year of 27%. This generated income of £663k, an increase of £127k.
Total income from donations and legacies was lower this year at £1,392k _(2020/21: £1,616k)._ Last year we received £143k of government support from the Coronavirus Job Retention Scheme not repeated this year. Legacy income also decreased year on year, at £734k ( _2020/21: £954k)._ This income stream is by its nature variable.
Income from other donations and gifts received from our fabulous supporter base increased by 26% to £655k (2020/21: £518k). During the year we ran three appeals to support our work in rainforests and grasslands, and received much valued support from individual major donors, corporates and trusts.
## **Expenditure**
The majority of our expenditure was once again targeted directly to our conservation work. This year we spent £2,975k on our various conservation projects, up from £2,222k last year. Our projects this year varied from celebrating meadows in England and Wales, working on habitats as diverse as dunescapes and rainforests and continuing our work with threatened species.
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**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
We have increased our work relating to the engagement and education of people this year, with £864k being spent (2020/21: £686k). Various new initiatives have been undertaken, including campaigning against peat extraction and promoting grasslands and dunes, and the continuation of our supporter engagement activities.
This year we have allocated additional funds to the recruitment of new members, increasing the amount spent on raising donations and legacies to £451k _(2020/21: £168k)_ . This strategy has already seen membership numbers increase and is expected to generate an increasing income benefit in future years.
Expenditure on support and governance costs is £698k, an increase of £92k since last year. Whilst we strive to maximise the amount available for expenditure directly on the furtherance of the charity’s objects, the trustees are mindful that they must ensure the provision of robust support systems to ensure all administrative and governance requirements are met.
## **Investments**
Despite tricky market conditions in early 2022 our investment portfolio has generated a positive return in the year, albeit at a lower level than last year. During the year we earned income of £73k (2020/21: £78k), and the total value of our portfolio stood at £3,517k on 31 March 22, an overall increase of £228k since March 2021 _(increase 2020/21: £460k)_ . Both our investment funds generated good returns in the year, with the permanent endowment fund averaging returns of 6.6% and the unrestricted fund generating 8.3%.
## **Financial Reserves**
In addition to our endowment funds, our total charitable funds comprise both restricted and unrestricted reserves.
At 31 March 2022 our restricted funds totalled £2,364k _(2021: £2,398k)._ These funds include the £1.6m purchase price of our heritage assets (nature reserves), a restricted reserve which represents income already received and used to purchase assets which are shown on the balance sheet, together with any other restricted funds in hand at the year-end such as those for projects, appeals and legacies which are legally restricted to certain projects or activities.
The unrestricted funds of the charity amount to £3,293k _(2021: £3,068k)._ Some of these funds have been set aside by the trustees for specific purposes to help Plantlife increase its resilience and lay the foundations for future growth. An amount of £113k has been designated to finance the development and implementation of a new customer relationship management system and £400k has been allocated for investment in strengthening capacity. A revaluation reserve of £103k is retained in relation to listed investments. The general reserve is being utilised in furtherance of our strategic objectives, and will continue to do so over the upcoming years – enabling the achievement of conservation targets, whilst ensuring we retain the levels of free cash reserves required by our reserve holding policy.
## **Fundraising and our commitment to supporters**
The Board of Trustees ensures that our fundraising complies with legal and regulatory requirements and is guided by our core values and mission.
Fundraising - or any fundraising undertaken on our behalf - is monitored to ensure it is fair, transparent, and compliant. We are members of the Fundraising Regulator and ensure all our activity is carried out in line with the Code of Fundraising Practice, charity law, and all relevant legislation including the General Data Protection Regulations and Privacy and Electronic Communications Regulations. All those undertaking fundraising for Plantlife receive training and support to ensure we have the correct processes and procedures in place.
We rely on generous donations from all our supporters and funders and undertake a range of fundraising activities to support our work in securing a world rich in plants and fungi. This includes building our membership
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**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
base through regular and one-off donations, appeals, events, legacy giving and challenges in support of Plantlife alongside the sale of merchandise. We also make applications to trusts, foundations and statutory donors for funds for specific projects. We receive ongoing support from seventeen corporate partnerships, including commercial partners that generate donations from the sale of their products.
In 2021-22 we used a professional fundraising agency to undertake membership recruitment on our behalf by attending events with Plantlife stands across the country and talking to the public about membership. We carry out regular training with these fundraisers and undertake close reviews of this activity to ensure compliance. The agency is also a member of the Fundraising Regulator and the Chartered Institute of Fundraising.
We take any complaint about fundraising and supporter feedback very seriously and make sure we record this and feed it into ways to improve our work. Over the past year we have received one complaint from our direct and agency led fundraising activity which was investigated and resolved and no requests from the Fundraising Preference Service from thousands of fundraising communications across a range of channels.
We periodically review our policies, procedures and guidance and over the past year have worked to strengthen them. We have a Vulnerable Persons policy and process in place to direct our approach to people who are in vulnerable circumstances and have updated our Complaints policy. Both policies are published on our website.
Whenever we undertake new fundraising activity, we consider any risks and put in place mitigation measures. We really appreciate the support we receive and are committed to maintaining high standards of fundraising and supporter care.
## **Investment policy**
The charity’s governing document enables it to invest moneys not immediately required for its purposes in or upon such investments, securities or property as may be thought fit. Any such investments are governed by Plantlife’s investment policy, which takes into account income requirements, the risk profile and the fund manager's view of the market prospects in the medium term. Plantlife is also committed to incorporating social, environmental and ethical considerations into its investment decisions. The Trustees are therefore mindful of the need to balance investment performance with our social and environmental responsibilities.
We encourage our investment managers to:
- seek to understand the ESG and ethical policies of the companies in which investments are made;
- consider ESG and ethical policies, particularly in relation to climate change and biodiversity loss, when evaluating companies for investment;
- encourage the organisations in which they invest to adopt and pursue socially and environmentally responsible business practices and good governance; and
- exercise the right to vote in respect of their holdings, taking ESG and ethical considerations into account as appropriate.
We will not invest in companies whose activities have a detrimental impact on the environment and our policy is to invest only in companies with an “above average” environmental rating. This means we will not invest in fossil fuels or the mining sector and will avoid those companies involved in the most carbon intensive industries or those who contribute to deforestation. This policy is reviewed annually by the trustees.
Management of our investment assets is undertaken by Investec Wealth & Investment Ltd. Reports on the performance are provided quarterly and are reviewed at meetings with the fund manager which are held on a sixmonthly basis with the Finance and General Purposes Committee.
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**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
Trustees apply a _total return approach_ in respect of the endowment fund using powers granted by the Charities (Total Return) Regulations 2013 made under Section 104A of the Charities Act 2011. This was adopted in 2017 after taking legal and investment advice.
Under this policy, trustees will draw both income and capital growth gained from investment of the endowment to be used to further charitable objectives, whilst at the same time maintaining the real value of the relevant permanent endowments (being £1,700k at the time of adopting the total return approach) so that it can continue to provide for future beneficiaries. Accumulated returns in excess of this value form a fund from which the Charity may draw from time to time to further its charitable objectives. This unapplied total return was established at £712k on the date of the resolution. Trustees will review any such distribution from time to time and adjust funds being drawn as necessary to take account of prevailing rates of investment return, in order to safeguard the endowment and its long-term returns whilst accepting medium-term fluctuations in value.
The movements in unapplied total return are shown in note 4 to the accounts. This year the Charity did not transfer any monies into unrestricted funds _(2021: £nil)_ . At 31 March 2022 the endowment funds of £2,733k were in excess of the value of the permanent endowment for investment and the unapplied total return.
The overall aim of our investment policy is to maximise the amount that can be spent on charitable activities from income and medium-term capital growth whilst protecting the original value of the permanent endowment that forms part of the fund for the future. Our current portfolio aims to yield 6% from combined income and capital growth in the medium-term.
## **Financial reserves policy**
We maintain a policy on financial reserves, which is periodically reviewed in line with guidance from the Charity Commission.
The Trustees have decided that Plantlife International will hold six months’ core operating costs as a free, unrestricted financial reserve. This reserve is to cater for the following:
- An amount needed to discharge any contractual obligations should there be, for example, a catastrophic fall in income leading to a serious financial problem. This should also prevent the need for immediate cuts in expenditure and ensure our increasingly longer-term conservation projects can be completed.
- An amount to facilitate cash management. Our income is not received evenly throughout the year, and most large conservation projects require cash expenditure by Plantlife well in advance of the eventual recoupment of funding from project financiers.
- An operational reserve, for use on extraordinary costs such as IT upgrades, building moves or renovation or income generation and particularly to maintain the upkeep of our nature reserves at all times.
The reserve amount is linked to core expenditure rather than a fixed amount, allowing for fluctuations in organisation size. Based on operating expenditure for the six months to March 2022 the target reserve amount stands at £1.06m. Plantlife’s free cash reserve metric at 31 March 2022 is 1.55 times the reserve target.
Plantlife may also hold additional unrestricted reserves. These reserves will be used within a reasonable period of receipt of the funds. When judging what is reasonable, the trustees will bear in mind that the conservation of plants and fungi often requires effort over a number of years and it can be some time before results are seen in plant populations.
13
**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
## _**Principal risks and uncertainties**_
The charity is exposed to a number of risks and uncertainties. Responses to these risks are managed within well established systems and have been established to mitigate identified risks and are subject to continuous review.
Trustees periodically review the strategic risks facing the organisation and monitor the effectiveness of actions taken to mitigate the impact of such risks
The principal risks and uncertainties identified by the trustees are:
- Reduced funding available for plant conservation. Due to other societal pressures the available funds for conservation and environmental NGO’s is diminished, reducing our ability to make an impact.
- Our areas of work, trustees, staff, volunteers and supporters do not yet fully reflect societal diversity in all aspects. This reduces our ability to deliver conservation effectiveness in accordance with our strategic objectives.
- Plantlife lags in development of its IT systems and associated training, curtailing our ability to reach our full potential.
- Plantlife recognizes climate related risk as part of its daily activity. Through our conservation and monitoring work we are seeing significant changes in assemblages of species and their distribution. We seek to address this as far as possible through ensuring robust and resilient plant communities on our own reserves and through working with our partners.
Systems have been established to mitigate identified risks and are subject to continuous review. The detailed considerations of risk are delegated to the F&GP committee, assisted by the SMT. Risks are identified, assessed and controls established throughout the year. A formal review of the charity’s risk management process is undertaken on an annual basis at the main board.
Trustees consider that there is appropriate monitoring, measurement, and mitigation in place to avoid the principal risks and uncertainties to the organisation and its effectiveness, notwithstanding the fact that some will need continued attention as contributory factors continue to bring challenges.
14
**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
## _**Thank you**_
We are extremely grateful to all our members, supporters, funders and other organisations that so generously supported us in 2021/22, including all donors who wish to remain anonymous. Unfortunately we do not have space to individually name all our supporters, but on behalf of everyone at Plantlife we would like to acknowledge the following who provided support of £1,000 or more:
## **Grant Funders**
Association of Deer Management Groups Cairngorms National Park Authority City of London Corporation Department for Environment Food & Rural Affairs EU LIFE Programme Highland and Island Environment Foundation John Muir Trust Joint Nature Conservation Committee Loch Lomond & The Trossachs National Park National Heritage Lottery Fund National Lottery Community Fund People & Places Wales Revenue Grants
Natural England Natural Resources Wales NatureScot Reforesting Scotland RSPB Scottish Environment LINK Scottish Land and Estates SNH The Welsh Government The Woodland Trust Trust for Oxfordshire’s Environment and Grundon Waste Management Ltd
## **Charitable Trusts and Foundations**
D'Oyly Carte Charitable Trust Emily Weircroft Charitable Trust Esmee Fairbairn Foundation Frognal Trust Harbinson Charitable Trust Hugh Fraser Charitable Foundation Ian Addison Charitable Foundation John and Shenagh Norman Charitable Trust Lady Yuen Peng McNeice Charitable Foundation Lord O'Neill Charitable Trust Mrs M A Lascelles Mrs R P Allen's Charitable Trust Neil & Pauline Pettefar Trust Nineveh Trust
Norman and Evelyn Proffitt Trust Oakdale Trust Orchard Community Energy Orr Mackintosh Foundation Peter and Olive Ward Charitable Trust Rees Jeffreys Road Fund Samuel Storey Family Charitable Trust Scott (Eredine) Charitable Trust Tay Charitable Trust The Daniell Trust The Lawson Trust The Waterloo Foundation Wyfold Charitable Trust
## **Corporate Partners and Supporters**
Black Bee Honey Limited Bramley Products Ltd Broadstone Ground Control Ltd Herb & Hedgerow Ltd
Laurent-Perrier (UK) Ltd Maidstone Distillery Ltd Meadows Honey Limited Mitie Landscaping Ltd Vina Concha y Toro S.A.
## **Legacy Gifts**
We are once again hugely thankful to everyone who remembered Plantlife in their will.
15
**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
## _**Statement of trustees' responsibilities**_
The trustees, who are also the directors of Plantlife International - The Wild Plant Conservation Charity for the purpose of company law, are responsible for preparing the Trustees' Annual Report (including the Strategic Report) 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. Under company law trustees must not approve the financial statements unless they are satisfied that they 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 year.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP 2019 (FRS 102);
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). 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.
In so far as the trustees are aware:
- there is no relevant audit information of which the charitable company’s auditor is unaware: and
- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
## **Auditors**
A resolution proposing the re-appointment of Azets Audit Services as auditors to the company will be put to the annual general meeting.
## **ON BEHALF OF THE TRUSTEES:**
A Rowswell Professor DA Hill Treasurer Chair Dated: 27 July 2022 Dated: 27 July 2022
16
**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
## **Independent Auditor's Report to the Trustees and Members of Plantlife International – The Wild Plant Conservation Charity**
## **Opinion**
We have audited the financial statements of Plantlife International - The Wild Plant Conservation Charity (the ‘charitable company’) for the year ended 31 March 2022 which comprise the statement of financial activities, the summary income and expenditure account, the balance sheet, the statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
- give a true and fair view of the state of the charitable company’s affairs as at 31 March 2022 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended:
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006.
## **Basis for Opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the
17
**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of our audit:
- the information given in the trustees’ report, which includes the directors’ report and the strategic report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the strategic report and the directors’ report included within the trustees’ report have been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic and directors’ report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 require us to report to you if, in our opinion:
- the information given in the financial statement is inconsistent in any material respect with the trustees’ report; or
- adequate accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records; or
- we have not received all the information and explanations we require for our audit; or
- certain disclosures of directors’ remuneration specified by law are not made.
## **Responsibilities of trustees**
As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charitable company for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
## **Auditor’s responsibilities for the audit of the financial statements**
We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with the regulations made under those acts.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in
18
**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
## **Extent to which the audit was considered capable of detecting irregularities, including fraud**
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.
We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.
In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:
- enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;
- reviewing minutes of meetings of those charged with governance;
- assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entity through enquiry and inspection;
- reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
- performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
## **Use of our report**
This report is made solely to the charitable company's members, as a body, in accordance with chapter 3 of part 16 of the Companies Acts 2006, and to the charitable company’s trustees, as a body, in accordance with regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company's members and trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume
19
**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
responsibility to anyone other than the charitable company, the charitable company's members as a body and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
**Michael Tizard (Senior Statutory Auditor) for and on behalf of Azets Audit Services**
**Chartered Accountants Statutory Auditor**
Athenia House 10-14 Andover Road Winchester Hampshire United Kingdom SO23 7BS
27.07.2022
Azets Audit Services is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under of section 1212 of the Companies Act 2006.
20
**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
## **Financial Statements**
## **Statement of Financial Activities For the year ended 31 March 2022**
(incorporating an income and expenditure account)
## _**Current financial year**_
|_Note_
**Income from:**
Donations and legacies
Job retention scheme grant
_1_
Other donations and legacies
_1_
Charitable activities
Conservation action
_2_
Membership income
_2_
Investment income
_3_
**Total income and endowments**
**Expenditure on:**
Raising funds
Raising donations and legacies
_5_
Investment management costs
_5_
Charitable activities
Conservation activities
_6_
People engagement, education
and membership
_6_
**Total resources expended**
Net gains on investments
_11_
**Net movement in funds**
**Reconciliation of funds**
Total funds brought forward at
1 April 2021
**Total funds carried forward at**
**31 March 2022**|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Endowment**
**Funds**
**Total**
**2022**
**2022**
**2022**
**2022**
**£**
**£**
**£**
**£**
2,451
-
-
2,451
1,019,757
370,059
-
1,389,816
360,741
1,987,470
-
2,348,211
663,169
-
-
663,169
17,302
-
55,784
73,086
**2,063,420**
**2,357,529**
**55,784**
**4,476,733**
450,640
-
-
450,640
4,820
-
17,376
22,196
455,460
-
17,376
472,836
736,178
2,239,018
-
2,975,196
711,405
152,797
-
864,202
1,447,583
2,391,815
-
3,839,398
**1,903,043**
**2,391,815**
**4,312,234**
64,903
-
129,668
194,571
**225,280**
**(34,286)**
**168,076**
**359,070**
3,067,829
2,397,826
2,565,392
8,031,047
**3,293,109**
**2,363,540**
**2,733,468**
**8,390,117**|**Total**
**2021**
**£**
143,209
1,472,608
1,897,890
535,728
77,544|
|---|---|---|
|||**4,126,979**
168,275
19,119|
|||187,394
2,222,051
686,145|
|||2,908,196|
|||**3,095,590**|
|||415,714|
|||**1,447,103**|
|||6,583,944|
|||**8,031,047**|
All amounts derive from continuing activities
All gains and losses recognised in the year are included in the Statement of Financial Activities.
21
**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
## **Statement of Financial Activities (continued)**
(incorporating an income and expenditure account)
## _**Prior financial year – for the year ended 31 March 2021**_
|**Income from:**
Donations and legacies
Job retention scheme grant
_1_
Other donations and legacies
_1_
Charitable activities
Conservation action
_2_
Membership income
_2_
Investment income
_3_
**Total income and endowments**
**Expenditure on:**
Raising funds
Raising donations and legacies
_5_
Investment management costs
_5_
Charitable activities
Conservation activities
_6_
People engagement, education and
membership
_6_
**Total resources expended**
Net gains/(losses) on investments
_11_
**Net movement in funds**
**Reconciliation of funds**
Total funds brought forward at
1 April 2020
**Total funds carried forward at**
**31 March 2021**|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Endowment**
**Funds**
**Total**
**2021**
**2021**
**2021**
**2021**
**£**
**£**
**£**
**£**
143,209
-
-
143,209
1,256,429
216,179
-
1,472,608
15,852
1,882,038
-
1,897,890
535,728
-
-
535,728
14,338
-
63,206
77,544|
|---|---|
||**1,965,556**
**2,098,217**
**63,206**
**4,126,979**
168,275
-
-
168,275
2,039
-
17,080
19,119|
||170,314
-
17,080
187,394
447,290
1,774,761
-
2,222,051
686,145
-
-
686,145|
||**1,133,435**
**1,774,761**
-
**2,908,196**|
||**1,303,749**
**1,774,761**
**17,080**
**3,095,590**|
||34,234
-
381,480
415,714|
||**696,041**
**323,456**
**427,606**
**1,447,103**|
||2,371,788
2,074,370
2,137,786
6,583,944|
||**3,067,829**
**2,397,826**
**2,565,392**
**8,031,047**|
All amounts derive from continuing activities
All gains and losses recognised in the year are included in the Statement of Financial Activities.
22
**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
## **Balance Sheet**
## **Company number: 3166339**
|**Company number: 3166339**|||
|---|---|---|
|_Note_
**Fixed assets**
Tangible assets
_12_
Heritage assets
_13_
Investments
_14_
**Current assets**
Stocks
_16_
Debtors
_17_
Investments
_18_
Cash at bank and in hand
**Liabilities**
Creditors: amounts falling due within one year
_19_
**Net current assets**
**Total assets less current liabilities**
**Funds of the charity**
**Capital funds**
Endowment funds – general
_22_
**Income funds**
Restricted funds
_24_
Unrestricted funds
General unrestricted funds
_23_
Designated reserve
_23_
Revaluation reserve
_23_
**Total charity funds**|**as at**
**31 March**
**2022**
**£**
58,420
1,582,805
3,517,488
5,158,713
42,514
1,093,213
1,290,444
1,203,050
3,629,221
(397,817)
**3,231,404**
**8,390,117**
2,733,468
2,363,540
2,676,882
512,871
103,356
**8,390,117**|**as at**
**31 March**
**2021**
**£**
32,458
1,582,805
3,289,329|
|||4,904,592
42,514
892,759
1,036,570
1,526,636|
|||3,498,479
(372,024)|
|||**3,126,455**|
|||**8,031,047**|
|||2,565,392
2,397,826
2,809,376
220,000
38,453|
|||**8,031,047**|
The notes on pages 25 to 40 are an integral part of these financial statements. Approved by the Board of Trustees on 27 July 2022 and signed on its behalf by:
**Professor DA Hill**
Chair
**A Rowswell**
Treasurer
23
**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
## **Cash Flow Statement For the year ended 31 March 2022**
|**Cash flows from operating activities**
**Net cash (absorbed by)/provided by**
**operating activities**
**Cash flows from investing activities**
Interest received
Purchase of tangible fixed assets
Purchase of investments
Proceeds on disposal of investments net of investment
management costs
Transfer to short term deposit account
**Net cash used in investing activities**
**Cash flows from financing activities**
**Decrease in cash and cash equivalents in the reporting**
**period**
Cash and cash equivalents at the beginning of the reporting
period
**Cash and cash equivalents at the end of the reporting**
**period**
**Reconciliation of Net (Expenditure)/Income to Net Cash Flow**
Net (expenditure)/income for the reporting period
_(as per the statement of financial activities)_
Investment income recognized in the statement of financial activities
Fair value gains and losses on investments
Depreciation
Fees paid by investment portfolio monies
Decrease/(Increase) in debtors
Increase in creditors
**Net cash (absorbed by)/provided by operating activities**|**2022**
**2021**
**£**
**£**
**(64,283)**
**866,894**
73,086
77,544
(44,927)
(20,840)
-
(2,422,827)
(33,588)
1,436,511
(253,874)
-
**(259,303)**
**(929,612)**
-
-
**(323,586)**
**(62,718)**
1,526,636
1,589,354
**1,203,050**
**1,526,636**
**From Operating Activities**
**2022**
**2021**
**£**
**£**
359,070
1,447,103
(73,086)
(77,544)
(194,571)
(475,729)
18,965
23,446
-
19,118
(200,454)
(146,914)
25,793
77,414
**(64,283)**
**866,894**|**2021**
**£**
**866,894**
77,544
(20,840)
(2,422,827)
1,436,511
-|
|---|---|---|
|||**(929,612)**
-|
|||**(62,718)**
1,589,354|
|||**1,526,636**|
|||**866,894**|
24
**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
## _**Principal Accounting Policies**_
## **Nature of operations and general information**
Plantlife International – The Wild Plant Conservation Charity is a private company limited by guarantee and a Public Benefit Entity as defined by FRS 102. It is incorporated and domiciled in England, the address of its registered office is Brewery House, 36 Milford Street, Salisbury, Wiltshire, SP2 1AP. Plantlife’s financial statements are presented in Pounds Sterling (£), which is also the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest whole pound.
## **Basis of preparation**
The financial statements have been prepared in accordance with the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of listed investments at fair value.
## **Preparation of consolidated financial statements**
In the opinion of the Trustees, the results of the subsidiary company are not material to the group. The company has therefore taken advantage of the exemption provided by Companies Act 2006, Financial Reporting Standard 102 and the Charities SORP (FRS 102), not to prepare group accounts.
## **Going concern**
At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The Trustees therefore continue to adopt the going concern basis of accounting in preparing the financial statements.
## **Accounting judgements and assumptions**
The preparation of financial statements under SORP (FRS 102) requires the company to make judgements and assumptions that effect the application of policies and reported amounts. Assumptions and judgements are based on historical experience and other factors including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from the estimates derived from applying those judgements and assumptions. The judgements and assumptions which have a significant impact on the carrying value of assets and liabilities are considered to be those surrounding the valuation of fixed assets including heritage assets.
The trustees do not conceive there to be any significant risk of material adjustment during the next reporting period as a result of the judgements and assumptions applied to the financial statements.
## **Charitable funds**
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
25
**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
## **Principal Accounting Policies continued**
## **Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Income from general donations is recognised upon receipt or once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
Income from government and other grants is recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received, and the amount can be measured reliably. If entitlement is not met these amounts are deferred. Income received during the year relating to grants wholly covering periods commencing after the year end is held as deferred income.
Investment income is earned through holding assets for investment purposes. It includes dividends and interest. Income from fixed interest investments is recognised when received. Dividend income is recognised as the charity's right to receive payment is established.
Annual membership and life membership subscriptions are recognised in full on receipt as this income is in the nature of a gift. No accrual is included for the cost of providing annual or life members with future publications as, whilst the Trustees expect to continue to provide this service, they believe there is no contractual requirement or expectation to do so.
## **Expenditure**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. Where support costs cannot be directly attributed to a particular heading they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources, according to staff numbers engaged in an activity.
## **Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings 10% and 25% straight line Office equipment 33% straight line Computer equipment 25% straight line Motor vehicles 25% straight line
All fixed assets are initially recognised at cost. The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in net income/(expenditure) for the year.
26
**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
## **Principal Accounting Policies continued**
## **Heritage assets**
The charity acquires and maintains nature reserves in support of the charity's main objectives. The nature reserves are recorded in the Balance Sheet at cost and the Board of Trustees consider the assets to have an infinite useful life and therefore do not consider it appropriate to charge depreciation.
## **Fixed asset investments**
Cash investments are stated at cost. Listed investments are initially measured at transaction price excluding transaction costs and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
A subsidiary is an entity controlled by the charity. Investments in subsidiaries are measured at cost less impairment.
## **Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## **Stocks**
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
## **Cash and cash equivalents**
Cash and cash equivalents include cash in hand, and highly liquid bank accounts. Cash held as part of an investment portfolio is included with the investment to which it relates. Cash held in deposit accounts with a maturity of more than 90 days held for investment purposes rather than to meet short-term cash commitments as they fall due are included in current asset investments.
## **Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
27
**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
## **Principal Accounting Policies continued**
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
## **Foreign exchange**
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in net income/(expenditure) for the period.
## **Fund Accounting**
Where funds are received for a specific purpose set out by the donor or implied by the terms of appeal, these are shown as restricted income in the Statement of Financial Activities. Funds donated to be held as capital are shown as Endowment Funds. Expenditure for the purpose specified is applied against the income and any amount unexpended at the balance sheet date is shown within Restricted Funds.
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.
The Trustees, at their discretion, may set aside funds to cover specific future costs. Such funds are shown as designated funds within unrestricted funds. Should the Trustees decide such funds are no longer required for the purposes intended, they may be released by transfer to the general unrestricted funds.
28
**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
## **Notes to the Financial Statements**
## **1. Income from donations and legacies**
|**Donations and gifts**
Core funding
Reserves management
Conservation action
**Legacies receivable**
Core funding
Conservation action
**Job retention scheme grant**|**Unrestricted**
**funds**
**Restricted**
**funds**
**Total**
**2022**
**2022**
**2022**
**£**
**£**
**£**
194,692
194,692
2,082
22,620
24,702
93,979
342,124
436,103
**290,753**
**364,744**
**655,497**
729,004
-
729,004
-
5,315
5,315
**729,004**
**5,315**
**734,319**
**2,451**
**2,451**
**1,022,208**
**370,059**
**1,392,267**|**Unrestricted**
**funds**
**Restricted**
**funds**
**Total**
**2021**
**2021**
**2021**
**£**
**£**
**£**|
|---|---|---|
|||311,152
-
311,152
-
13,607
13,607
-
193,572
193,572|
|||**311,152**
**207,179**
**518,311**
945,277
-
945,277
-
9,000
9,000|
|||**945,277**
**9,000**
**954,277**
**143,209**
**-**
**143,209**|
|||**1,399,638**
**216,179**
**1,615,817**|
## **2. Income from charitable activities**
|Conservation activities
Membership income|**Unrestricted**
**funds**
**Restricted**
**funds**
**Total**
**2022**
**2022**
**2022**
**£**
**£**
**£**
360,741
1,987,470
2,348,211
663,169
-
663,169
**1,023,910**
**1,987,470**
**3,011,380**|**Unrestricted**
**funds**
**Restricted**
**funds**
**Total**
**2021**
**2021**
**2021**
**£**
**£**
**£**|
|---|---|---|
|||15,852
1,882,038
1,897,890
535,728
-
535,728|
|||**551,580**
**1,882,038**
**2,433,618**|
## **3. Investment income**
|Income from listed investments
Deposit account interest|**Unrestricted**
**funds**
**Endowment**
**funds**
**general**
**Total**
**2022**
**2022**
**2022**
**£**
**£**
**£**
11,248
55,784
67,032
6,054
-
6,054
**17,302**
**55,784**
**73,086**|**Unrestricted**
**funds**
**Endowment**
**funds**
**general**
**Total**
**2021**
**2021**
**2021**
**£**
**£**
**£**|
|---|---|---|
|||9,269
63,206
72,475
5,069
-
5,069|
|||**14,338**
**63,206**
**77,544**|
29
**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
## **Notes to the Financial Statements continued**
## **4. Other income**
## **Permanent endowment invested on a total return basis**
The charity has exercised its rights by the Trustees under section 104(A) of the Charities Act 2011 on 14 October 2017. This power permits the Trustees to invest permanently endowed funds to maximise total return and therefore to apply an appropriate portion of the unapplied total return to income. The unapplied total return remains invested as part of the permanent endowment until that power is exercised. When exercised it allows the Trustees to apply an appropriate portion of the unapplied total return to income each year. During the current year the Trustees have transferred £nil (2021: £nil) to unrestricted income funds. In deciding this amount, the Trustees considered the level of income received since adopting the total return basis and determined this approach appropriate.
|**at 31 March 2021**
Trust for investment
Unapplied total return
**Movements in the period**
Investment return – dividends and interest
Investment return – realised and unrealised gains and (losses)
Investment management fees
Unapplied total return allocated to income in the period
**Net movements in the period**
**at 31 March 2022**
Trust for investment
Unapplied total return|**Trust for**
**investment**
**Unapplied**
**total return**
**Total**
**endowment**
**£**
**£**
**£**|
|---|---|
||1,700,000
-
1,700,000
-
865,392
865,392|
||1,700,000
865,392
2,565,392
-
55,784
55,784
-
129,668
129,668
-
(17,376)
(17,376)|
||-
168,076
168,076
-
-
-|
||-
168,076
168,076
1,700,000
-
1,700,000
-
1,033,468
1,033,468|
||**1,700,000**
**1,033,468**
**2,733,468**|
## **5. Costs of raising funds**
|**Raising donations and legacies**
Staff direct
Staff support
Other direct
Other support
Governance
**Investment management costs**|**Unrestricted**
**funds**
**Endowment**
**funds**
**general**
**Total**
**2022**
**2022**
**2022**
**£**
**£**
**£**
112,383
-
112,383
34,201
-
34,201
274,204
-
274,204
27,723
-
27,723
2,129
-
2,129
**450,640**
**-**
**450,640**
**4,820**
**17,376**
**22,196**
**455,460**
**17,376**
**472,836**|**Unrestricted**
**funds**
**Endowment**
**funds**
**general**
**Total**
**2021**
**2021**
**2021**
**£**
**£**
**£**|
|---|---|---|
|||76,217
-
76,217
16,045
-
16,045
58,715
-
58,715
16,174
-
16,174
1,124
-
1,124|
|||**168,275**
**-**
**168,275**|
|||**2,039**
**17,080**
**19,119**|
|||**170,314**
**17,080**
**187,394**|
30
**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
## **Notes to the Financial Statements continued**
## **6. Charitable activities**
|**Conservation activities**
Reserves management
Conservation action
International
Share of support costs
Share of governance costs
**Total conservation activities**
**People engagement,**
**education and membership**
Communicating and educating
members and the public
Share of support costs
**Total people engagement,**
**education and membership**|**Unrestricted**
**funds**
**Restricted**
**funds**
**Total**
**2022**
**2022**
**2022**
**£**
**£**
**£**
88,295
13,696
101,991
210,425
2,117,981
2,328,406
29,832
-
29,832
328,552
2,131,677
2,460,229
394,078
107,341
501,419
13,548
-
13,548
**736,178**
**2,239,018**
**2,975,196**
592,089
152,797
744,886
119,316
-
119,316
**711,405**
**152,797**
**864,202**
**1,447,583**
**2,391,815**
**3,839,398**|**Unrestricted**
**funds**
**Restricted**
**funds**
**Total**
**2021**
**2021**
**2021**
**£**
**£**
**£**|
|---|---|---|
|||61,588
92,761
154,349
53,034
1,521,088
1,574,122
-
53,289
53,289|
|||114,622
1,667,138
1,781,760
317,831
107,623
425,454
14,837
-
14,837|
|||**447,290**
**1,774,761**
**2,222,051**|
|||553,886
-
553,886
132,259
-
132,259|
|||**686,145**
**-**
**686,145**|
||||
|||**1,133,435**
**1,774,761**
**2,908,196**|
## **7. Support costs**
|Staff costs
Other support
Governance costs
**Analysed between**
Fundraising
Charitable activities|**Support**
**costs**
**Governance**
**costs**
**Total**
**2022**
**2022**
**2022**
**£**
**£**
**£**
317,752
-
317,752
364,906
-
364,906
-
15,677
15,677
**682,658**
**15,667**
**698,335**
61,923
2,129
64,052
620,735
13,548
634,283
**682,658**
**15,677**
**698,335**|**Support**
**costs**
**Governance**
**costs**
**Total**
**2021**
**2021**
**2021**
**£**
**£**
**£**|
|---|---|---|
|||290,220
-
290,220
299,712
-
299,712
-
15,961
15,961|
|||**589,932**
**15,961**
**605,893**|
|||32,219
1,124
33,343
557,713
14,837
572,550|
|||**589,932**
**15,961**
**605,893**|
## **8. Net movement in funds**
|**Net movement in funds**||
|---|---|
|**Net movement in funds is stated after charging:**
Fees payable to the company’s auditor for the audit of the financial statements
Depreciation of owned tangible assets
Operating lease charges|**2022**
**2021**
**£**
**£**|
||13,717
14,566
18,965
23,446
68,704
47,899|
31
**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
## **Notes to the Financial Statements continued**
## **9. Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. This year the lifting of Covid-19 restrictions allowed the resumption of in-person trustee meetings. During the year 5 trustees _(2021: nil)_ were reimbursed travel expenses totalling £1,239 _(2021: nil)._
## **10. Employees and staff costs**
The average number of full-time equivalent employees in the year was:
|Charitable activities
Generating funds
Management and administration|**2022**
**2021**
**number **
**number **|
|---|---|
||39
40
7
6
8
6|
||**54**
**52**|
The average number of staff on a head count basis in the year was 67 _(2021: 65)._
The aggregate remuneration comprises:
|Wages and salaries
Social security
Pensions
Ex-gratia payments|**2022**
**2021**
**£**
**£**|
|---|---|
||1,659,278
1,570,839
149,066
142,094
90,603
93,169
22,512
13,314|
||**1,921,459**
**1,819,416**|
The key management personnel of the charity comprise the trustees and the senior management team. The aggregate employee benefit received by Plantlife’s key management personnel was £281,029 _(2021: £232,212)._ None of the trustees received any remuneration or other benefits from Plantlife.
At the period end £nil _(2021: £nil)_ of pension contributions had yet to be paid over by the charity.
The number of higher paid employees was:
|£90,001 - £100,000|**2022**
**2021**
**Number **
**number **|
|---|---|
||1
1|
32
**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
## **Notes to the Financial Statements continued**
## **11. Net gains/(losses) on investments**
|Revaluation of investments|**Unrestricted**
**funds**
**Endowment**
**funds**
**general**
**Total**
**2022**
**2022**
**2022**
**£**
**£**
**£**
**64,903**
**129,668**
**194,571**|**Unrestricted**
**funds**
**Endowment**
**funds**
**general**
**Total**
**2021**
**2021**
**2021**
**£**
**£**
**£**|
|---|---|---|
|||**34,234**
**381,480**
**415,714**|
## **12. Tangible fixed assets**
|**Cost**
At 1 April 2021
Additions
Disposals
**At 31 March 2022**
**Depreciation**
At 1 April 2021
Charge for the year
Disposals
**At 31 March 2022**
**Net book value**
**as at 31 March 2022**
as at 31 March 2021|**Fixtures**
**and fittings**
**Computer**
**equipment**
**Motor**
**vehicles**
**Total**
**£**
**£**
**£**
**£**|
|---|---|
||47,289
114,630
28,003
189,922
6,850
26,077
12,000
44,927
(2,518)
(2,518)|
||**51,621**
**140,707**
**40,003**
**232,331**|
||37,787
93,706
25,971
157,464
6,642
10,041
2,282
18,965
(2,518)
(2,518)|
||**41,911**
**103,747**
**28,253**
**173,911**|
||**9,710**
**36,960**
**11,750**
**58,420**|
||9,502
20,924
2,032
32,458|
33
**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
## **Notes to the Financial Statements continued**
## **13. Heritage assets**
at 1 April 2021 and at 31 March 2022 £1,582,805
Heritage assets represent Nature Reserves and are recorded in the Balance Sheet at cost. In the year to 31 March 2018, there were additions to heritage assets totalling £195,092. There have been no other transactions in heritage assets in the 4 years to 31 March 2022.
## _**Acquisition**_
The ownership of nature reserves is to be undertaken with direct reference to the fulfilment of at least one of Plantlife’s strategic objectives. To be considered for acquisition, acceptance or retention, a strong case from any one of the three following criteria must be met:
- To deliver a strategic and long-term contribution to the conservation of rare and threatened plants or fungi species, communities and assemblages where this cannot practically be achieved by means other than land acquisition.
- To provide a means through which we are better able to influence the management of landscapes that are of strategic importance to Plantlife (principally those within IPAs).
- To generate active support for Plantlife and plant conservation through face-to-face engagement with the public and provision of an inspirational visitor experience.
In all cases the area of the land should be considered. An area greater than 50 hectares is preferable, but small, critically important sites may be of interest dependent on other criteria measures. In situations where a parcel of land contributes or is contiguous to existing protected areas or links such areas, a smaller hectarage will be more acceptable.
Where Plantlife is acquiring the land, independent professional advice should be obtained in respect of the value of the land and the price being charged. Payment of a premium may be acceptable for land of critical botanical importance.
In all cases the on-going financial and human resource commitment required to manage the land must be taken into consideration.
If the proposed acquisition is instrumental in engaging a new or broad audience with a particular focus on meeting our equality, diversity and inclusion objectives Plantlife may from time-to-time compromise on the quality of the conservation potential.
## _**Disposal**_
Plantlife views its reserves as being held in perpetuity for the benefit of all Plantlife members and the public as places to see and enjoy wild plants and to protect and conserve the wild plant interests at each site. Plantlife has no plans to dispose of any of its reserves but if required to do so through, for example, compulsory purchase orders, would seek to ensure that similar or better standards of management and preservation were required of the new owners.
34
**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
## **Notes to the Financial Statements continued**
## **14. Fixed asset investments**
|**Fixed asset investments**||
|---|---|
|**Cost or valuation**
At 1 April 2021
Additions
Valuation changes
Disposals
Dividend and interest income
net of fees
**At 31 March 2022**
**Carrying amount**
**as at 31 March 2022**
as at 31 March 2021|**Listed**
**investments**
**Cash and**
**settlement**
**pending**
**Other**
**investments**
**Total**
**£**
**£**
**£**
**£**|
||2,912,841
376,486
2
3,289,329
476,853
(476,853)
-
-
199,149
(4,578)
-
194,571
(157,641)
157,641
-
-
-
33,588
33,588|
||**3,431,202**
**86,284**
**2**
**3,517,488**|
||**3,431,202**
**86,284**
**2**
**3,517,488**|
||2,912,841
376,486
2
3,289,329|
Other investments comprise investments in subsidiaries £2 _(2021: £2)._ See also note 28.
Listed investments at fair value comprise:
|UK fixed interest
Overseas fixed interest
UK equities
International equities
Property
Alternative assets|**2022**
**2021**
**£**
**£**|
|---|---|
||210,132
184,469
97,315
91,424
1,100,641
1,074,066
1,336,605
1,047,460
231,653
185,418
454,856
330,004|
||**3,431,202**
**2,912,841**|
The historical cost at the end of the period was £2,913,932 _(2021: £2,825,777)._
The investment consists of two funds: Unrestricted £784,017 _(2021: £723,934);_ and Permanent Endowment Fund £2,733,468 _(2021: £2,565,395)._
## **15. Financial instruments**
|**inancial instruments**||
|---|---|
|**Carrying amount of financial assets**
Instruments measure at fair value through profit or loss|**2022**
**2021**
**£**
**£**|
||**1,290,444**
**1,036,570**|
## **16. Stock**
During the year ended 31 March 2017 the charity entered into an agreement to acquire a flock of 416 sheep. The charity owns the sheep and has provided them to a farmer for the purpose of grazing the land on a nature reserve. The flock retains its value at £42,514 _(2021: £42,514)._
35
**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
## **Notes to the Financial Statements continued**
## **17. Debtors**
|**ebtors**||
|---|---|
|Trade debtors
Amounts owed by subsidiary undertakings
Other debtors
Prepayments and accrued income|**2022**
**2021**
**£**
**£**|
||24,327
65,274
3,021
3,021
1,039,773
797,956
26,092
26,508|
||**1,093,213**
**892,759**|
All amounts are receivable within one year from the balance sheet date.
Included within other debtors are grants receivable of £532,672 _(2021: £502,110)_ and legacies receivable of £475,224 _(2021: £289,018)._
## **18. Current asset investments**
|**urrent asset investments**||
|---|---|
|Unlisted investment|**2022**
**2021**
**£**
**£**|
||**1,290,444**
**1,036,570**|
## **19. Creditors: Amounts falling due within one year**
|**reditors: Amounts falling due within one year**||
|---|---|
|Trade creditors
Accruals and deferred income
Social security and other taxes
Other creditors|**2022**
**2021**
**£**
**£**|
||185,791
177,223
160,173
148,460
41,291
40,080
10,562
6,261|
||**397,817**
**372,024**|
Accruals and deferred income includes £5,000 _(2021: £72,323)_ in respect of deferred incoming resources.
## **20. Government grants**
In addition to the Job Retention Scheme grant shown in note 1, the charity received government grants for conservation projects to the sum of £1,284,108 _(2021: £1,109,931)._
## **21. Retirement benefit schemes**
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. The charge to profit or loss in respect of defined contribution schemes was £90,603 _(2021: £93,169)._
36
**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
## **Notes to the Financial Statements continued**
## **22. Endowment funds**
Endowment funds represent 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 assets form part of the fund.
|Balance at 1 April 2020
Movement in funds
Incoming resources
Resources expended
Transfers
Revaluations gains and losses
**Balance at 31 March 2021**
Movement in funds
Incoming resources
Resources expended
Transfers
Revaluations gains and losses
**Balance at 31 March 2022**|**Permanent**
**endowments**
**£**|
|---|---|
||2,137,786
63,206
(17,080)
-
381,480|
||**2,565,392**|
||55,784
(17,376)
-
129,668|
||**2,733,468**|
An amount of £700,000 was donated to Plantlife in 1992 by an anonymous donor and an amount of £1,221,575 was donated to Plantlife in 2010 also by an anonymous donor. The gifts were made to the charity on condition that they be held as permanent endowment, the income from which is to be applied to fund the activities of the charity. From 14 October 2017 the permanent endowment has been managed on a total return basis. Refer to note 4 for more information.
## **23. Unrestricted funds**
The income funds of the charity include unrestricted funds comprising the following unexpended balances:
|Balance at 1 April 2020
Movement in funds
Incoming resources
Resources expended
Revaluations gains and losses
**Balance at 31 March 2021**
Movement in funds
Incoming resources
Resources expended
Revaluations gains and losses
**Balance at 31 March 2022**|**General fund**
**Investment**
**valuation**
**reserve**
**Designated**
**for**
**Development:**
**Systems**
**Designated**
**for**
**Development:**
**Capacity**
**Total**
**£**
**£**
**£**
**£**
**£**|
|---|---|
||2,367,568
4,220
-
-
2,371,788
1,689,625
-
275,930
-
1,965,555
(1,247,817)
-
(55,930)
-
(1,303,747)
-
34,233
-
-
34,233|
||**2,809,376**
**38,453**
**220,000**
**-**
**3,067,829**|
||1,663,419
-
-
400,000
2,063,419
(1,795,913)
-
(107,129)
-
(1,903,042)
-
64,903
-
-
64,903|
||**2,676,882**
**103,356**
**112,871**
**400,000**
**3,293,109**|
The investment valuation reserve values unrestricted investments at fair value. Changes in value from initial cost are reflected in the investment valuation reserve.
37
**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
## **Notes to the Financial Statements continued**
## **24. Restricted funds**
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
|Balance at 1 April 2020
Movement in funds
Incoming resources
Resources expended
**Balance at 31 March 2021**
Movement in funds
Incoming resources
Resources expended
**Balance at 31 March 2022**|**Nature**
**reserves**
**Land**
**purchasing**
**fund**
**Ranscombe**
**Farm**
**Reserves**
**management**
**Conservation**
**action**
**Total**
**£**
**£**
**£**
**£**
**£**
**£**|
|---|---|
||1,167,532
121,019
225,000
38,355
522,464
2,074,370
-
-
-
84,414
2,013,803
2,098,217
-
-
-
(92,761)
(1,682,000)
(1,774,761)|
||**1,167,532**
**121,019**
**225,000**
**30,008**
**854,267**
**2,397,826**|
||-
-
-
22,620
2,334,909
**2,357,529**
-
-
-
(13,695)
(2,378,120)
**(2,391,815)**|
||**1,167,532**
**121,019**
**225,000**
**38,933**
**811,056**
**2,363,540**|
## **Nature reserves**
A total of 23 nature reserves are owned or leased by Plantlife. The purchase of nature reserves is funded by grants, sponsorship monies and private and public donations. Funds raised for specific reserves have been set against the full cost of land purchase, with any surplus allocated to management or general land purchase funds, within the terms of the appeal.
## **Land purchasing fund**
This fund comprises monies dedicated to land purchase received via public appeal or legacy that has not yet been spent.
## **Ranscombe Farm**
Ranscombe Farm was acquired by Medway Council in 2004. Medway Council wished to establish the site as a form of country park and Plantlife wished to secure ownership and management of the site to conserve the rare plants there. It was agreed that Plantlife would acquire the freehold to 44 hectares for the consideration of £225,000 and the leasehold to the remaining 185 hectares for a period of 25 years at a cost of £1.00 per annum. In addition, a service agreement was put in place covering an initial period of five years. The restricted fund comprises the monies raised for the freehold purchase.
## **Reserves management**
The terms of certain appeals, grants and donations restricts monies raised to the maintenance and management of specific reserves or reserves in general.
## **Conservation action**
Plantlife's conservation action programmes receive grants raised from government agencies, charitable trusts and income from specific appeals.
38
**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
## **Notes to the Financial Statements continued**
## **25. Analysis of net assets between funds**
Fund balances are represented by:
|Balance at 31 March 2021
Unrestricted funds
Restricted funds
Endowment fund
TOTAL
**Balance at 31 March 2022**
Unrestricted funds
Restricted funds
Endowment fund
**TOTAL**|**Tangible**
**assets**
**Heritage**
**assets**
**Investments**
**Current**
**assets/**
**(liabilities)**
**Total**
**£**
**£**
**£**
**£**
**£**|
|---|---|
||32,458
190,272
723,937
2,121,162
3,067,829
-
1,392,533
-
1,005,293
2,397,826
-
-
2,565,392
-
2,565,392|
||32,458
1,582,805
3,289,329
3,126,455
8,031,047|
||58,420
190,272
784,020
2,260,397
3,293,109
-
1,392,533
-
971,007
2,363,540
-
-
2,733,468
-
2,733,468|
||**58,420**
**1,582,805**
**3,517,488**
**3,231,404**
**8,390,117**|
## **26. Operating lease commitments**
The total future minimum lease payments under non-cancellable operating leases in respect of property and office equipment are as follows:
|Expiring not later than one year
Expiring later than one year and not later than five years
Expiring later than five years|**2022**
**2021**
**£**
**£**|
|---|---|
||42,062
42,870
158,488
4,893
-
-|
||**200,550**
**47,763**|
The total leasing costs during the year were £68,704 _(2021: £47,899.)_
## **27. Related party disclosures**
Neither the trustees nor any persons connected with them received any remuneration during the year (2021: nil). The travelling expenses of 5 _(2021: none)_ trustees to the value of £1,239 _(2021: £nil)_ were reimbursed during the year. During the year, the charity received donations and membership fees from trustees and related parties of the trustees to the sum of £266 _(2021: £489)._ These donations were received without conditions attached.
39
**PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Financial Statements for the year ended 31 March 2022**
## **Notes to the Financial Statements continued**
## **28. Subsidiaries**
At 31 March 2022 the charity had one subsidiary:
Name of undertaking Plantlife Trading Limited Registered company number 02742265 Registered territory England & Wales Nature of business Other professional, scientific and technical activities not elsewhere classified Class of shares held Ordinary Percentage shareholding (direct) 100%
The aggregate capital and reserves for Plantlife Trading Limited excluded from consolidation was £2,489 _(2021: £2,489),_ and its annual result was £nil _(2021: £nil)._
40