2023-03-31-accounts

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PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY

Annual Report and Consolidated Financial Statements

Year Ended 31 March 2023

Company Number: 3166339 (England & Wales) Charity Number: 1059559 (England & Wales) Charity Number: SC038951 (Scotland)

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

2 Reference and Administrative Details
3 Trustees’ Report
18 Auditor’s Report
21 Consolidated Statement of Financial Activity
23 Consolidated Balance Sheet
24 Charitable Company Balance Sheet
25 Consolidated Cash Flow Statement
26 Principal Accounting Policies
31 Notes to the Financial Statements

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

Reference and Administrative Details

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 Amy Hammond Patrick James James Jansen Timothy Jones Dr Jill Kowal Hien Vi Luong Anthony Payne Dr Rosetta Plummer Sally Thomas

Chief Executive

Ian Dunn

Resigned 5 October 2022 Appointed 5 October 2022 Resigned 17 April 2023

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

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

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

Trustees’ Report

The trustees of Plantlife International present their Annual Report for the year ended 31 March 2023 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 26 to 30 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 2019).

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 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 its objects and has therefore included mention of fungi in the above.

Plantlife Trading Limited

The Charity has one subsidiary company – Plantlife Trading Limited (PTL), company number 02742265. 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.

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

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 courses 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

Grant making

Grants may be awarded as part of larger partnership projects where Plantlife is the catalyst and enabler, bringing together parties to provide a greater positive impact on nature than could be achieved independently.

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, Vice-Chair 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

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

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.

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 by the Board. 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 the 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
Vickie Wood	Director of Fundraising & Marketing

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 31 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.

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

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 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.

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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:

Protect and restore the diversity of wild plants and fungi to enhance our countryside, towns and cities.
Connect people with nature to improve wellbeing and inspire action to save species and their habitats.
Work in partnerships so that all people and all sectors of society can contribute to tackling the climate and nature crisis we face.
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.

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

Achievements and performance

2022/23 was a very busy year for Plantlife’s staff, volunteers and partners, resulting in the delivery of amazing conservation ranging from protecting individual species at risk to advocacy on the world stage. Progress continues to be made under each of our strategic priority areas.

1. Protect and restore

Plantlife was the beneficiary of a number of major grants and project awards, whilst at the same time completing projects coming to the end of their funding. Large scale, multi partner projects such as Natur am Byth! in Wales and Species on the Edge in Scotland each progressed to their next stage. Our focus this year shifted towards grasslands as we continue to develop our wide-ranging Grasslands Action Plan, and to temperate rainforests with particular recognition to both the Building Resilience project in the South West of England and the Alliance for Scotland’s Rainforests. Work continued apace on protecting our peatlands and on a whole range of species at risk. Two major projects – Back from the Brink and Meadows Makers came to a conclusion, and we were delighted with the outcomes achieved.

2. Connect people with nature

We made real progress in this strategic activity this year. No Mow May is gaining traction in the UK and internationally as a way for everyone to do something for nature by leaving their mower in the shed for the month of May. Many thousands participated in our citizen science programmes – surveying Waxcaps, Cowslips and for fungi in the Cairngorms. We were particularly delighted to receive significant funding from the Digital Skills for Heritage scheme (part of the National Lottery Heritage Fund) enabling development of our Virtual Volunteering Virtually Everywhere programme. Our membership grew by nearly 25% again this year.

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. The Cairngorms Rare Plants and Wild Connections project brought together experts from multiple fields to help save rare mountain ecosystems. We worked alongside WWF UK and Highlands Rewilding on grassland economics, carbon capture and management plans. 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.

4. Collaborate and influence

Plantlife has been active this year in multiple areas, from nitrogen pollution through to nature friendly farming and engaging with the new land management laws. Plantlife and Kew RBG shared a stand at COP15 in Montreal where we worked alongside government delegations as well as being invited to give a number of speeches. We were delighted, as a function of this advocacy, that the Global Partnership for Plant Conservations has been asked to develop complimentary actions for plant conservation as part of the Global Biodiversity Framework actions arising from the Kunming-Montreal Protocol. We further strengthened both our policy team and our international team in the year allowing us to increase our promotion of Important Plant Areas around the world, with over 50 countries now either protecting or in the process of identifying their IPAs.

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

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 reduce as much as possible emissions from all of these sources. Plantlife believes that a Carbon Net Zero policy of removing as much or more carbon 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 are identifying our carbon emitting activities and are reporting on these annually. Our measured carbon emissions under scopes 1 and 2 of the Greenhouse Gas Protocol are:

	2021/22	2020/21	Base year 2019/20
Scope 1 & 2 emissions	9.81 tonnes	6.57 tonnes	14.64 tonnes
Scope 3 emissions (partial)	43.66 tonnes	Not measured	Not measured
Intensity metric (CO2e per staff FTE)	182 kg	126kg	293 kg

We began measuring scope 3 emissions in the year 2021/22, and currently record business travel, paper and electricity transmission & distribution - further items will be included over time. The year 2020/21 was impacted by covid operating conditions. Plans are being devised to reduce emissions wherever possible.

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 whilst maximizing income. 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 Esmée 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 demands 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 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.

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

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.

Staffing

Staff operate within a departmental structure, comprising Conservation; Communications, Engagement and Income Generation; and Finance and Operations. The majority of our staff are out-posted in various locations around the UK, with the remainder benefitting from hybrid working arrangements through our head office in Salisbury.

During the year the HR team completed a thorough salary benchmarking exercise, culminating in the introduction of a new salary structure. Plantlife believes its comprehensive remuneration package is now very attractive, evidenced by an increase in both the volume and quality of applicants for jobs. The biennial staff satisfaction survey produced positive responses in most areas, improving on previous results and overall scoring favourably against sector leaders. Key HR indicators including absence and staff turnover are regularly monitored by the senior management team and trustees. During the year 15 people moved on to other opportunities and 21 new members of staff joined the team. Our average full time equivalent staff number during the year was 58, and we employed a headcount of 71 people at the end of the year.

Volunteers

The generous contribution of volunteers supporting our conservation, plant surveys, awareness raising, and business activities is instrumental in enabling the achievement of our conservation targets. This year our volunteers provided 2,844 days of support; 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 £676,585 worth of contributions.

Ethnicity, Diversity and Inclusion.

We recognise that the conservation sector is one of the least diverse in the UK and are committed to increasing diversity both within Plantlife and throughout our wider supporter base. We have established an EDI committee and have appointed a trustee to champion this issue. Our strategy and action plan is being developed, and awareness of the issue and opportunities to contribute to the discussion have been made available throughout the staff body.

Health & Safety

Plantlife operates a Health & Safety (H&S) Committee, comprising 6 representatives from across the organisation and chaired by a member of SMT. The committee meets formally on a quarterly basis and has a remit to produce and maintain policies and codes of practice, address any matters that arise in day-to-day H&S working practices, raise issues and concerns on behalf of all staff and promote a positive health, safety and welfare culture throughout Plantlife. The committee report regularly to the SMT and board of trustees, one of whom is assigned special responsibility for H&S matters.

The trustees would like to thank all staff and volunteers for their hard work and dedication throughout the year.

Plantlife Trading Limited

Our paid for services are delivered through Plantlife Trading Ltd (PTL). PTL works on commercial terms with landowners, land managers and others with influence over how land is utilised to help them place the abundance and diversity of native plants and fungi at the heart of restoration, creation and management of natural spaces to deliver measurable conservation outcomes. All PTL work is mission led - working to enable others to deliver on Plantlife’s mission and providing services which are always complementary to our core charitable work. This extension to the Plantlife portfolio helps us address the scale and speed at which improvements to biodiversity need to be made.

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

Financial review

Results for the Year

2022/23 was another extremely positive year for Plantlife, making lasting positive change for wildflowers, plants and fungi whilst maintaining total funds in order to build resilience for the future. By joining forces with others we have ensured our money, influence and impact has a wider reach than we alone could effect.

Income

This year we were particularly pleased to achieve revenue growth across all areas of activity.

Income received to directly fund specific conservation projects increased by 27% to £2,983k (2021/22: £2,348k). A major new initiative this year, generating over £1m of this income, is the biodiversity enhancement programme funded by National Highways. Working on our own reserves and in partnership with other landowners, we will implement management plans that aim to achieve considerable long term improvements to the biodiversity on that land. 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 were very excited to begin work on two new major integrated species recovery partnership projects this year, Natur am Byth funded by Natural Resources Wales and Species on the Edge funded by NatureScot.

Total income from donations and legacies increased by 5% to £1,469k ( 2021/22: £1,392k), despite a reduction in legacy receipts of £204k, an income stream which is by its nature variable. Income from other donations and gifts received from our supporter base increased by 43% to £938k (2021/22: £655k). We are proud to have received the first in a series of payments from two new funders this year. Income from The Garfield Weston Foundation is supporting our ongoing work on road verges, and the Prince of Wales’s Charitable Foundation is contributing to the establishment of a new Science and Impact programme. During the year we ran three appeals highlighting the variety of habitats we work in – temperate rainforests, grasslands and mountains.

We are fortunate to have a loyal and growing membership base. This year saw our member numbers exceed 17,000, generating £834k of income (2021/22: £663k).

Income earned from our listed investments remained steady at £70k (2021/22: £67k), whilst bank interest increased as we benefitted from interest rates rises.

The rejuvenation of our paid for services through Plantlife Trading Limited has this year contributed £123k of new income to our results.

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

Expenditure

The majority of our expenditure was once again targeted directly to our conservation work. This year we spent £3,152k on our various conservation projects, up from £2,975k last year. We made good progress in our work with our priority habitats of grasslands and rainforests, and continued our work with threatened species, commencing new projects in Wales and Scotland. The Dynamic Dunescapes project rolled into its third year, and the biodiversity enhancement programme was launched. As part of this programme, a grant was made to enable a third party landowner to participate in the programme, increasing the grassland hectarage Plantlife can influence.

We have again increased our work relating to the engagement and education of people, with £1,095k being spent (2021/22: £864k). We have continued our campaign against peat extraction, promoted grasslands and dunescapes, and begun work to raise awareness of the importance of temperate rainforests.

The cost of raising donations and legacies has increased to £644k (2021/22: £451k). We are beginning to see a return on our continued investment in the recruitment of new members, as evidenced in our increased membership noted above, and are trialling new methods of recruitment and retention.

Expenditure on support and governance costs is £675k, a decrease of £23k since last year resulting from targeted cost savings within administration. 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

Ongoing volatility in the investment markets has resulted in a net loss in the value of our investments when measured at 31 March 2023 compared to their value at 31 March 2022. The total value of our portfolio stood at £3,364k on 31 March 2023, a decrease of £153k since March 2022 (increase 2021/22: £228k). Both our investment funds fell in value during the year, with the permanent endowment fund falling 3.7% and the unrestricted fund losing 6.9%.

Market movements during 2022 have impacted the portfolio's longer term performance. Given the current climate of elevated inflation, performance against CPI has proved a challenging target for both funds. Over a 5 year review period and with the exception of the pandemic drawdown and the current year, the permanent endowment fund has performed ahead of inflation and outperformed its own benchmark. The unrestricted portfolio has also outperformed its own benchmark over this period, however this fund has fallen behind the CPI plus 3% target. During the year we undertook a full tender process for the management of our investment business, the outcome of which was a decision to retain our existing fund managers for a further three years.

Financial Reserves

In addition to our endowment funds, our total charitable funds comprise both restricted and unrestricted reserves.

At 31 March 2023 our restricted funds totalled £2,944k (2022: £2,364k). These funds include the £1.4m 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

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

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 £3,167k (2022: £3,291k). 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. This includes a fund of £395k for the development of our support systems and capabilities including the updating of our brand platform and strengthening our IT systems and capability. £50k has been allocated to begin investigations into green financing and its potential to contribute to the achievement of Plantlife’s strategic goals. A revaluation reserve of £54k 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 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 twenty four corporate partnerships, including commercial partners that generate donations from the sale of their products.

In 2022-23 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 received five complaints from our direct and agency led fundraising activity which were investigated and resolved and no removal 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 Fundraising 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.

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

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 or water pollution. This policy is reviewed biennially by the trustees.

Management of our investment assets is reviewed and offered for tender every three years and is currently 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 six-monthly basis with the Finance and General Purposes Committee.

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 5 to the accounts. This year the Charity did not transfer any monies into unrestricted funds (2021: £nil) . At 31 March 2023 the endowment funds of £2,633k 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 3 percentage points above CPI from combined income and capital growth in the medium-term.

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

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 2023 the target reserve amount stands at £1.64m. Plantlife’s free cash reserve metric at 31 March 2023 is 1.4 times the reserve target, or nine months of coverage.

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.

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

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 instituted 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 NGOs (eNGOs) 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.
Competition from larger eNGOs puts pressure on the income of their smaller counterparts. The large eNGOs are finding their voice at a national level and becoming more vocal. This, linked to the economic background, may result in the big three or four capturing a large share of the available income – whether individual or corporate.
On-going decline of plants & fungi across the UK and internationally. External factors and societal pressures reduce the focus on the natural world.
Our staff and volunteers are insufficiently skilled, motivated and properly equipped. In the fast evolving employment world we may fail to maintain best practice.
Staff retention and succession planning. The market for ecologists is highly competitive and will become more so. Reliance on fixed term contracts results in constant churn and loss of key staff and their skills.
Plantlife lags in the development of its IT systems and associated training, curtailing our ability to reach our full potential.
Health, safety and welfare. We negatively impact the health of our people, those who work with us, or the environment.
Governance & compliance. Policies do not comply with current legislation, and/or staff do not apply or refer to them.
Climatic impact is inherent in Plantlife’s daily activity. We are slow to deliver carbon net or gross zero which, given our conservation activity, is judged as inadequate.

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.

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

Thank you

We are extremely grateful to all our members, supporters, funders and other organisations that so generously supported us in 2022/23, 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

Cairngorms National Park Authority Natural England Chivas Brothers Limited Natural Resources Wales Future Woodlands NatureScot Department for Environment Food & Rural Affairs RSPB EU LIFE Programme Scottish Environment LINK Joint Nature Conservation Committee Scottish National Heritage Loch Lomond & The Trossachs National Park The Welsh Government National Heritage Lottery Fund The Woodland Trust National Highways Wiltshire Council

Charitable Trusts and Foundations

The Daniell Trust John Feldberg Foundation The Charlotte Bonham-Carter Charitable Trust Lady Yuen Peng McNeice Charitable Foundation Ernest Kleinwort Charitable Trust The Lyon Family Charitable Trust The Esmée Fairbairn Foundation The Neil & Pauline Pettefar Charitable Trust The Eureka Charitable Trust Norman & Evelyn Proffitt Trust Garfield Weston Foundation Prince of Wales’s Charitable Fund Gibbs Foundation Rees Jeffreys Road Fund Henocq Law Trust Samuel Storey Family Charitable Trust Highlands and Islands Environment Foundation Scott (Eredine) Charitable Trust Hugh Fraser Foundation The Swire Charitable Trust The Ian Addison Charitable Foundation The Waterloo Foundation

Corporate Partners and Supporters

Black Bee Honey Limited Maidstone Distillery Ltd Chivas Brothers Limited Mitie Landscapes Ltd Formula Botanica Pauline Burbidge Quilts Laurent-Perrier (UK) Ltd Thakeham Homes Ltd Lidl Great Britain Limited Thyme

Legacy Gifts

We are once again hugely thankful to everyone who remembered Plantlife in their will.

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

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:

Professor DA Hill	A Rowswell
Chair	Treasurer
26 July 2023	26 July 2023

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

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 2023 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 2023 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 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,

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

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 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.

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

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 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.

Jon Noble (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

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.

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

Financial Statements

Consolidated Statement of Financial Activities For the year ended 31 March 2023

(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 Other trading activities 4 Total income and endowments Expenditure on: Raising funds Raising donations and legacies 6 Other trading activities 6 Investment management costs 6 Charitable activities Conservation activities 7 People engagement, education and membership 7 Total resources expended Net income/(expenditure) Net (loss)/gains on investments 12 Taxation 13 Net movement in funds Reconciliation of funds Total funds brought forward at 1 April 2022 Total funds carried forward at 31 March 2023	Unrestricted Funds Restricted Funds Endowment Funds Total 2023 2023 2023 2023 £ £ £ £ - - - - 907,462 561,248 - 1,468,710 345,129 2,637,662 - 2,982,791 833,784 3 - 833,787 44,930 - 56,584 101,514 123,070 48 - 123,118 2,254,375 3,198,961 56,584 5,509,920 644,335 - 644,335 49,303 - - 49,303 4,748 - 16,797 21,545 698,386 - 16,797 715,183 795,793 2,356,338 - 3,152,131 833,009 261,863 - 1,094,872 1,628,802 2,618,201 - 4,247,003 2,327,188 2,618,201 16,797 4,962,186 (72,813) 580,760 39,787 547,734 (48,925) - (139,884) (188,809) (1,554) - - (1,554) (123,292) 580,760 (100,097) 357,371 3,290,618 2,363,540 2,733,468 8,387,626 3,167,326 2,944,300 2,633,371 8,744,997	Total 2022 £ 2,451 1,389,816 2,348,211 663,169 73,086 -
		4,476,733 450,640 - 22,196
		472,836 2,975,196 864,202
		3,839,398
		4,312,234
		164,499
		194,571 -
		359,070
		8,028,556
		8,387,626

All amounts derive from continuing activities.

All gains and losses recognised in the year are included in the Statement of Financial Activities.

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

Consolidated Statement of Financial Activities (continued)

(incorporating an income and expenditure account)

Prior financial year – for the year ended 31 March 2022

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 6 Investment management costs 6 Charitable activities Conservation activities 7 People engagement, education and membership 7 Total resources expended Net income/(expenditure) Net gains/(losses) on investments 12 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 17,376 4,312,234
	160,377 (34,286) 38,408 164,499
	64,903 - 129,668 194,571
	225,280 (34,286) 168,076 359,070
	3,065,338 2,397,826 2,565,392 8,028,556
	3,290,618 2,363,540 2,733,468 8,387,626

All amounts derive from continuing activities.

All gains and losses recognised in the year are included in the Statement of Financial Activities.

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

Consolidated Balance Sheet

Company number: 3166339

Note Fixed assets Intangible assets 14 Tangible assets 15 Heritage assets 16 Investments 17 Current assets Stocks 19 Debtors 20 Investments 21 Cash at bank and in hand Liabilities Creditors: amounts falling due within one year 22 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 23 Total net assets Funds of the charity Capital funds Endowment funds – general 26 Income funds Restricted funds 28 Unrestricted funds General unrestricted funds 27 Designated reserve 27 Revaluation reserve 27 Total charity funds	as at 31 March 2023 £ 40,161 77,439 1,582,805 3,363,716 5,064,121 42,514 1,972,699 904,816 1,383,742 4,303,771 (530,444) 3,773,327 8,837,448 (92,451) 8,744,997 2,633,371 2,944,300 2,667,721 445,174 54,431 8,744,997	as at 31 March 2022 £ - 58,420 1,582,805 3,517,486
		5,158,711 42,514 1,090,192 1,290,444 1,203,582
		3,626,732 (397,817)
		3,228,915
		8,387,626
		-
		8,387,626
		2,733,468 2,363,540 2,674,391 512,871 103,356
		8,387,626

The notes on pages 25 to 44 are an integral part of these financial statements.

Approved by the Board of Trustees on 26 July 2023 and signed on its behalf by:

Professor DA Hill

Chair

A Rowswell Treasurer

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

Charitable Company Balance Sheet

Company number: 3166339

Note Fixed assets Intangible assets 14 Tangible assets 15 Heritage assets 16 Investments 17 Current assets Stocks 19 Debtors 20 Investments 21 Cash at bank and in hand Liabilities Creditors: amounts falling due within one year 22 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 23 Total net assets Funds of the charity Capital funds Endowment funds – general 26 Income funds Restricted funds 28 Unrestricted funds General unrestricted funds Designated reserve Revaluation reserve Total charity funds	as at 31 March 2023 £ 40,161 77,439 1,582,805 3,363,718 5,064,123 42,514 1,967,002 904,816 1,382,733 4,297,065 (527,875) 3,769,190 8,833,313 (92,451) 8,740,862 2,633,371 2,944,300 2,663,586 445,174 54,431 8,740,862	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
		-
		8,390,117
		2,733,468 2,363,540 2,676,882 512,871 103,356
		8,390,117

The notes on pages 26 to 44 are an integral part of these financial statements.

Approved by the Board of Trustees on 26 July 2023 and signed on its behalf by:

Professor DA Hill

Chair

A Rowswell Treasurer

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

Consolidated Cash Flow Statement For the year ended 31 March 2023

	2023	2022
	£	£
Cash flows from operating activities
Net cash absorbed by operating activities	(185,999)	(64,283)
Cash flows from investing activities
Investment income	101,514	73,086
Purchase of intangible and tangible fixed assets	(85,944)	(44,927)
Net investment income reinvested	(35,039)	(33,588)
Transfer from/(to) short term deposit account	385,628	(253,874)
Net cash provided by/(absorbed by) investing activities	366,159	(259,303)
Cash flows from financing activities	-	-
Increase/(Decrease) in cash and cash equivalents in the reporting period	180,160	(323,586)
Cash and cash equivalents at the beginning of the reporting period	1,203,582	1,527,168
Cash and cash equivalents at the end of the reporting period	1,383,742	1,203,582
Reconciliation of Net (Expenditure)/Income to Net Cash Flow From Operating Activities
	2023	2022
	£	£
Net income for the reporting period (as per the statement of financial activities)	357,371	359,070
Investment income recognised in the statement of financial activities	(101,514)	(73,086)
Fair value gains and losses on investments	188,809	(194,571)
Depreciation & amortisation	26,764	18,965
(Increase) in debtors	(882,507)	(200,454)
Increase in creditors	225,078	25,793
Net cash absorbed by operating activities	(185,999)	(64,283)

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

Principal Accounting Policies – Consolidated Group and Charitable Company

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

The financial statements incorporate the results of Plantlife International – The Wild Plant Conservation Charity and its sole subsidiary Plantlife Trading Limited, consolidated on a line by line basis. The company has taken advantage of the exemption provided by section 408 of the Companies Act 2006 not to include the Statement of Financial Activities for the charity alone. The income and expenditure dealt with in the accounts of the charitable company was a surplus of £350,745. Previous year’s results of the subsidiary company were not material to the group.

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.

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

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 performance conditions are accrued when the recipient has been notified of the grant and any remaining unfulfilled conditions attaching to the grant are outside the control of the charity.

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.

Intangible fixed assets

Intangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of amortisation and any impairment losses. Amortisation is recognised so as to write off the cost or valuation of assets over their useful lives estimated at 3 years on a straight line basis. 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.

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

Principal Accounting Policies continued

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

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.

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.

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

Principal Accounting Policies continued

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.

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. Taxation for the trading subsidiary is accrued on its taxable profit.

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.

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

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.

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

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 2023 2023 2023 £ £ £ 401,481 - 401,481 450 28,198 28,648 76,740 431,403 508,143 478,671 459,601 938,272 428,791 - 428,791 - 101,647 101,647 428,791 101,647 530,438 - - - 907,462 561,248 1,468,710	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

2. Income from charitable activities

Conservation activities Membership income	Unrestricted funds Restricted funds Total 2023 2023 2023 £ £ £ 345,129 2,637,662 2,982,791 833,784 3 833,787 1,178,913 2,637,665 3,816,578	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

3. Investment income

Income from listed investments Deposit account interest	Unrestricted funds Endowment funds general Total 2023 2023 2023 £ £ £ 13,453 56,584 70,037 31,477 - 31,477 44,930 56,584 101,514	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

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

Notes to the Financial Statements continued

4. Other trading activities

Included in the consolidated accounts are the results of the wholly owned subsidiary, Plantlife Trading Limited, which delivers a range of paid for services comprising botanical consultancy and evaluation work. Its summary statement of comprehensive income is:

Turnover Cost of sales Gross profit Administrative expense Other operating income Profit before taxation Tax on profit on ordinary activities Profit after tax and profit for the financial year	Total 2023 £ 113,103 (50,092) 63,011 (55,504) 673 8,180 (1,554) 6,626	Total 2022 £ - -
		- (710) 710
		-
		-
		-

The aggregate capital and reserves for Plantlife Trading Limited at the end of the reporting period was £4,137 (2022: (£2,489)).

5. Income from listed investments

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 2022 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 2023 Trust for investment Unapplied total return	Trust for investment Unapplied total return Total endowment £ £ £
	1,700,000 - 1,700,000 - 1,033,468 1,033,468
	1,700,000 1,033,468 2,733,468 - 56,584 56,584 - (139,884) (139,884) - (16,797) (16,797)
	- (100,097) (100,097) - - -
	- (100,097) (100,097) 1,700,000 - 1,700,000 - 933,371 933,371
	1,700,000 933,371 2,633,371

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

Notes to the Financial Statements continued

6. Costs of raising funds

Raising donations and legacies Staff direct Staff support Other direct Other support Governance Other trading activities Investment management costs Total cost of raising funds	Unrestricted funds Endowment funds general Total 2023 2023 2023 £ £ £ 150,355 - 150,355 3,761 - 3,761 485,682 - 485,682 2,825 - 2,825 1,712 - 1,712 644,335 - 644,335 49,303 - 49,303 4,748 16,797 21,545 698,386 16,797 715,183	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

7. 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 Share of governance costs Total people engagement, education and membership Total cost of charitable activities	Unrestricted funds Restricted funds Total 2023 2023 2023 £ £ £ 233,150 39,234 272,384 475,560 1,736,790 2,212,350 48,887 8,700 57,587 757,597 1,784,724 2,542,321 29,946 566,782 596,728 8,250 4,832 13,082 795,793 2,356,338 3,152,131 806,419 231,956 1,038,375 21,105 28,412 49,517 5,485 1,495 6,980 833,009 261,863 1,094,872 1,628,802 2,618,201 4,247,003	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

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

Notes to the Financial Statements continued

8. Grant making activities

Biodiversity enhancement programme	Activities undertaken directly Grant funding of activities to institutions Support costs Total 2023 2023 2023 2023 £ £ £ £ 91,110 232,176 130,590 453,876 91,110 232,176 130,590 453,876	Total 2022 £
		-
		-

The first in a series of grants has been made this year in furtherance of Plantlife’s new biodiversity enhancement programme. This grant was made for Gainsbank Field, Worcester, to enable participation in a 15-year meadow restoration plan with the object to demonstrably enhance biodiversity on the land.

9. Support costs

Staff costs Other support Governance costs Analysed between Fundraising Charitable activities	Support costs Governance costs Total 2023 2023 2023 £ £ £ 372,798 - 372,798 280,032 - 280,032 - 21,774 21,774 652,830 21,774 674,604 6,585 1,712 8,297 646,245 20,062 666,307 652,830 21,774 674,604	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

10. 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 Amortisation of owned intangible assets Operating lease charges	2023 2022 £ £
	16,071 13,717 26,620 18,965 144 - 48,414 68,704

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

Notes to the Financial Statements continued

11. Employees and staff costs

The average number of full-time equivalent employees in the year was:

Charitable activities Generating funds Management and administration	2023 2022 number number
	41 39 8 7 9 8
	58 54

The average number of staff on a head count basis in the year was 69 (2022: 67).

The aggregate remuneration comprises:

Wages and salaries Social security Pensions Ex-gratia payments	2023 2022 £ £
	1,967,420 1,659,278 193,862 149,066 105,767 90,603 16,160 22,512
	2,283,209 1,921,459

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 £285,879 (2022: £281,029). None of the trustees received any remuneration or other benefits from Plantlife.

At the period end £nil (2022: £nil) of pension contributions had yet to be paid over by the charity.

The number of higher paid employees was:

£90,001 - £100,000	2023 2022 Number number 1 1

12. Net (losses)/gains on investments

Revaluation of investments	Unrestricted funds Endowment funds general Total 2023 2023 2023 £ £ £ (48,925) (139,884) (188,809)	Unrestricted funds Endowment funds general Total 2022 2022 2022 £ £ £
		64,903 129,668 194,571

13. Taxation

Provision for corporation tax at 19% has been accrued on the taxable profits of Plantlife Trading Limited.

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

Notes to the Financial Statements continued

14. Intangible fixed assets - Group and Charitable Company

Cost At 1 April 2022 Additions Disposals At 31 March 2023 Depreciation At 1 April 2022 Charge for the year Disposals At 31 March 2023 Net book value as at 31 March 2023 as at 31 March 2022	Website Total £ £
	- - 40,305 40,305 - -
	40,305 40,305
	- - 144 144 - -
	144 144
	40,161 40,161
	- -

15. Tangible fixed assets - Group and Charitable Company

Cost At 1 April 2022 Additions Disposals At 31 March 2023 Depreciation At 1 April 2022 Charge for the year Disposals At 31 March 2023 Net book value as at 31 March 2023 as at 31 March 2022	Fixtures and fittings Computer equipment Motor vehicles Total £ £ £ £
	51,621 140,707 40,003 232,331 2,913 30,972 11,754 45,639 - (88,375) - (88,375)
	54,534 83,304 51,757 189,595
	41,911 103,747 28,253 173,911 3,432 17,494 5,694 26,620 - (88,375) - (88,375)
	45,343 32,866 33,947 112,156
	9,191 50,438 17,810 77,439
	9,710 36,960 11,750 58,420

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

Notes to the Financial Statements continued

16. Heritage assets - Group and Charitable Company

at 1 April 2022 and at 31 March 2023 £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 5 years to 31 March 2023.

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.

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

Notes to the Financial Statements continued

17. Fixed asset investments

Group

Cost or valuation At 1 April 2022 Additions Valuation changes Disposals Dividend and interest income net of fees At 31 March 2023 Carrying amount as at 31 March 2023 as at 31 March 2022 Listed investments at fair value comprise: UK fixed interest Overseas fixed interest UK equities International equities Property Alternative assets	Listed investments Cash and settlement pending Total £ £ £	Listed investments Cash and settlement pending Total £ £ £
	3,431,202 86,284 3,517,486 653,879 (653,879) - (277,838) 89,029 (188,809) (541,703) 541,703 - - 35,039 35,039
	3,265,540 98,176 3,363,716
	3,265,540 98,176 3,363,716
	3,431,202 86,284 3,517,486
		2023 2022 £ £
		168,326 210,132 153,187 97,315 841,016 1,100,641 1,467,735 1,336,605 198,822 231,653 436,454 454,856
		3,265,540 3,431,202

The historical cost at the end of the period was £2,908,168 (2022: £2,913,932).

The investment consists of two funds: Unrestricted £730,344 (2022: £784,017); and Permanent Endowment Fund £2,633,371 (2022: £2,733,468).

Charitable Company

In addition to the group investments detailed above, the charitable company also owns 2 ordinary shares of £1 representing 100% of the issued share capital of Plantlife Trading Limited. See also note 32.

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

Notes to the Financial Statements continued

18. Financial instruments

Carrying amount of financial instruments

Financial assets Investments Trade debtors Cash at bank and in hand Financial liabilities Creditors due within one year Creditors due after more than one year	Group Measured at Total 2023 Total 2022 Amortised Cost Fair Value £ £ £ £ 904,816 904,816 1,290,444 1,043,461 1,043,461 24,327 1,383,742 1,383,742 1,203,582 (530,444) (530,444) (397,817) (92,451) (92,451) -	Charitable Company Total 2023 Total 2022 £ £
		904,816 1,290,444 1,007,613 24,327 1,382,733 1,203,050 (527,875) (397,817) (92,451) -

All financial assets and financial liabilities qualify as basic financial instruments.

Valuation methods applied

Investments are valued at the current value of invested funds.

Creditors due after more than one year are valued at the present value of the future payments discounted at a market rate of interest for a similar debt instrument as determined at initial recognition. The total amount payable of £139,725 has been discounted at the United Kingdom 15 Year Government Bond rate of 4.584%.

19. Stock - Group and Charitable Company

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 (2022: £42,514).

20. Debtors

Trade debtors Other debtors Prepayments and accrued income Amounts owed by subsidiary undertakings	Group 2023 2022 £ £ 1,043,461 24,327 876,689 1,039,773 52,549 26,092 - - 1,972,699 1,090,192	Charitable Company 2023 2022 £ £
		1,007,613 24,327 29,909 3,021 876,931 1,039,773 52,549 26,092
		1,967,002 1,093,213

All amounts are receivable within one year from the balance sheet date.

Included within other debtors are grants receivable of £342,948 (2022: £532,672) and legacies receivable of £532,000 (2022: £475,224).

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

Notes to the Financial Statements continued

21. Current asset investments - Group and Charitable Company

Unlisted investments	2023 2022 £ £
	904,816 1,290,444

22. Creditors: Amounts falling due within one year

Trade creditors Accruals for grants payable Accruals and deferred income Social security and other taxes Other creditors	Group 2023 2022 £ £ 184,020 185,791 139,725 - 142,105 160,173 52,364 41,291 12,230 10,562 530,444 397,817	Charitable Company 2023 2022 £ £
		184,005 185,791 139,725 - 141,105 160,173 50,810 41,291 12,230 10,562
		527,875 397,817

Accruals and deferred income includes £nil (2022: £5,000) in respect of deferred incoming resources.

23. Creditors: Amounts falling due after more than one year - Group and Charitable Company

Grant payments due	2023 2022 £ £
	92,451 -
	92,451 -

Grant payments due comprise amounts in relation to the biodiversity improvement programme and will be paid in three equal instalments in March 2028, 2032 and 2037.

24. Government grants

The charity received grants from government, government agencies and similar bodies both local and national for conservation projects to the sum of £2,221,436 (2022: £1,284,108).

25. 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 £105,767 (2022: £90,603).

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

Notes to the Financial Statements continued

26. Endowment funds - Group and Charitable Company

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 2021 Movement in funds Incoming resources Resources expended Transfers Revaluations gains and losses Balance at 31 March 2022 Movement in funds Incoming resources Resources expended Transfers Revaluations gains and losses Balance at 31 March 2023	Permanent endowments £
	2,565,392 55,784 (17,376) - 129,668
	2,733,468
	56,584 (16,797) - (139,884)
	2,633,371

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 5 for more information.

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

Notes to the Financial Statements continued

27. Unrestricted funds

The income funds of the charity include unrestricted funds comprising the following unexpended balances:

Balance at 1 April 2021 Movement in funds Incoming resources Resources expended Revaluation gains and losses Balance at 31 March 2022 Movement in funds Incoming resources Resources expended Revaluation gains and losses Taxation Balance at 31 March 2023	General fund Investment valuation reserve Designated For: Total Systems & capacity development Green finance initiative £ £ £ £ £
	2,806,885 38,453 220,000 - 3,065,338 1,663,419 - 400,000 - 2,063,419 (1,795,913) - (107,129) - (1,903,042) - 64,903 - - 64,903
	2,674,391 103,356 512,871 - 3,290,618
	2,204,374 - - 50,000 2,254,374 (2,209,490) - (117,697) - (2,327,187) - (48,925) - - (48,925) (1,554) - - - (1,554)
	2,667,721 54,431 395,174 50,000 3,167,326

The investment valuation reserve values unrestricted investments at fair value. Changes in value from initial cost are reflected in the investment valuation reserve.

The trustees have designated certain unrestricted funds for specific purposes. An amount has been assigned to fund the ongoing development of Plantlife’s operational systems and capacity. This includes the implementation of a new customer relationship management system, updating our brand platform and strengthening our IT systems and capability. £50,000 has been allocated to begin investigations into green financing and its potential to contribute to the achievement of Plantlife’s strategic goals.

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

Notes to the Financial Statements continued

28. Restricted funds - Group and Charitable Company

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 2021 Movement in funds Incoming resources Resources expended Balance at 31 March 2022 Movement in funds Incoming resources Resources expended Balance at 31 March 2023	Nature reserves Land purchasing fund Ranscombe Farm Reserves management Biodiversity enhancement programme Conservation action Total £ £ £ £ £ £ £
	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
	- - - 29,845 1,057,500 2,111,616 3,198,961 - - - (39,233) (453,876) (2,125,092) (2,618,201)
	1,167,532 121,019 225,000 29,545 603,624 797,580 2,944,300

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. 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.

Biodiversity enhancement programme

Working on our own reserves and in partnership with other landowners, this project aims to achieve considerable improvements to the biodiversity of various sites through the implementation of long term management interventions.

Conservation action

Plantlife's conservation action programmes receive grants raised from government agencies, charitable trusts and income from specific appeals.

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY Annual Report and Consolidated Financial Statements for the year ended 31 March 2023

Notes to the Financial Statements continued

29. Analysis of net assets between funds

Fund balances are represented by:

Balance at 31 March 2022 Unrestricted funds Restricted funds Endowment fund Total Balance at 31 March 2023 Unrestricted funds Restricted funds Endowment fund Total	Intangible assets Tangible assets Heritage assets Investments Current assets/ (liabilities) Creditors: amounts due after more than one year Total £ £ £ £ £ £ £
	- 58,420 190,272 784,018 2,257,908 - 3,290,618 - - 1,392,533 - 971,007 - 2,363,540 - - - 2,733,468 - - 2,733,468
	- 58,420 1,582,805 3,517,486 3,228,915 - 8,387,626
	40,161 77,439 190,273 730,345 2,129,108 - 3,167,326 - - 1,392,532 - 1,644,219 (92,451) 2,944,300 - - - 2,633,371 - - 2,633,371
	40,161 77,439 1,582,805 3,363,716 3,773,327 (92,451) 8,744,997

30. 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	2023 2022 £ £
	35,785 42,062 105,248 158,488 - -
	141,033 200,550

The total leasing costs during the year were £48,414 (2022: £68,704.)

31. Related party disclosures

Neither the trustees nor any persons connected with them received any remuneration during the year (2022: nil). The travelling expenses of 5 (2022: 5) trustees to the value of £1109 (2022: £1,239) were reimbursed during the year.

32. Subsidiaries

At 31 March 2023 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%

PLANTLIFE INTERNATIONAL – THE WILD PLANT CONSERVATION CHARITY

Contents

Reference and Administrative Details

President

Vice President

Chair

Vice Chair

Treasurer

Other Trustees

Chief Executive

Registered name

Principal and Registered Office

Company Number

Charity Number (England & Wales)

Charity Number (Scotland)

Website

Facebook

Instagram

LinkedIn

Auditors

Principal bankers

Investment managers

Solicitors

Trustees’ Report

Structure and charitable objects

Constitution

Charitable Objects

Plantlife Trading Limited

Public Benefit

Grant making

Custodian Trusteeship

Governance and management

Appointment and Induction of Trustees

The Working of the Board and its Committees

Mission and strategy

Mission Statement

Strategy to 2030

Achievements and performance

1. Protect and restore

2. Connect people with nature

3. Work in partnerships

4. Collaborate and influence

Carbon and climate-related issues

Income Generation

Our People

Staffing

Volunteers

Ethnicity, Diversity and Inclusion.

Health & Safety

Plantlife Trading Limited

Financial review

Results for the Year

Income

Expenditure

Investments

Financial Reserves

Fundraising and our commitment to supporters

Investment policy

Financial reserves policy

Principal risks and uncertainties

Thank you

Grant Funders

Charitable Trusts and Foundations

Corporate Partners and Supporters

Legacy Gifts

Statement of trustees' responsibilities

Auditors

ON BEHALF OF THE TRUSTEES:

Independent Auditor's Report to the Trustees and Members of Plantlife International – The Wild Plant Conservation Charity

Opinion

Basis for Opinion

Conclusions relating to going concern

Other information

Opinions on other matters prescribed by the Companies Act 2006

Matters on which we are required to report by exception

Responsibilities of trustees

Auditor’s responsibilities for the audit of the financial statements

Extent to which the audit was considered capable of detecting irregularities, including fraud

Use of our report