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2024-03-31-accounts

Company number: 1413661

Charity number: 1088221

The Garden Museum (A Charity Group) Audited Group Financial Statements and Report of the Trustees

for the year ended 31 March 2024

(A Charity Group)

The Garden Museum

Index to the Financial Statements

for the year ended 31 March 2024

Page
Index to the Financial Statements 2
Report of the Trustees 3 - 18
Independent Auditors' Report 19 - 21
Consolidated Statement of Financial Activities 22
Charity Statement of Financial Activities 23
Consolidated and Charity Balance Sheets 24
Consolidated Cash Flows 25
Group Accounting Policies 26 - 27
Notes to the Consolidated Accounts 28 - 38

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(A Charity Group)

The Garden Museum

Report of the Trustees for the year ended 31 March 2024

The trustees present their annual report and consolidated financial statements of The Garden Museum and its subsidiary for the year ended 31 March 2024. The financial statements comply with applicable accounting standards, the Companies Act 2006 and the Statement of Recommended Practice - Accounting and Reporting by Charities SORP FRS 102.

1) Reference and Administrative Details

1.1 Constitution

The Garden Museum Ltd changed its name from The Museum of Garden History by written special resolution dated 20 November 2008. It is a company limited by guarantee and a registered charity governed by its memorandum and articles of association adopted by special resolution on 25 April 2001 and amended by written resolution on 25 July 2001.

1.2 Trustees

The trustees of The Garden Museum, who are also directors of the charity company for the purpose of company law, during the year to 31 March 2024 and since that date have been:

Chairman: - Appointed 7 June 2023 Rupert Tyler Treasurer: Trustees: Alexander Fortescue - Deceased 17 May 2024 Bridget Ann Pinchbeck Bryan Sanderson CBE Charles Spicer - Appointed 18 September 2024 Edward McMullan Edwina Valentine Sassoon Hazel Ann Gardiner Jane Ruffer - Appointed 13 September 2023 Jason Gatenby* - Appointed 18 September 2024 Jeremy Clay Lady Burlington - Resigned 5 February 2024 Lady Ritblat Sir Charles Saumarez-Smith Tania Compton The Lady Egremont The Marchioness of Normanby Thomas Stuart-Smith * = Executive committee member ** = Tradescant Trading Company Limited Director

1.3 Secretary

The constitution adopted by written special resolution on 20 November 2008 does not require the appointment of a company secretary.

1.4 Director and Chief Executive Officer

Christopher Woodward

1.5 Address and Registered Office:

The Garden Museum, Lambeth Place Road, London SE1 7LB.

1.6 Independent Auditors

Armstrong & Co, Chartered Accountants and Statutory Auditors, 4a Printing House Yard, Hackney Road, London E2 7PR.

1.7 Bankers

Bank of Scotland, 14-16 Cockspur Street, London SW1Y 5BL Barclays Bank PLC, 108 Queensgate, London SW7 5LS CAF Bank Ltd, West Malling, Kent, ME19 4JQ

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The Garden Museum (A Charity Group)

Report of the Trustees for the year ended 31 March 2024

2) Structure, governance and management

2.1 Structure and governance

The Board of Directors (Trustees) is responsible for the governance, purpose, strategy and long-term planning of the Museum and meets four times each year.

The Board is advised by an Executive Committee, whose purpose is to be responsible for finance, performance to budget, administration, and human resources. Summaries of its detailed discussions are reported to the Board. The Committee meets four times each year and is composed of the Chair and three Trustees, with attendance by the Senior Management Team and Director.

The Board of Trustees is structured to represent a range of expertise from museums to garden design, commercial income to fundraising. Appropriate Trustees are delegated to attend meetings on prioritised issues between Board meetings.

The Museum has a wholly owned subsidiary, the Tradescant Trading Company Limited, established in 1994. It is responsible for all substantial commercial income (the shop, venue hire and since 1 April 2019, the cafe). Its Directors must be Trustees of the Museum and are appointed by the Trustee Board. The Director at 31st March 2024 was Rupert Tyler (Chairman).

The Garden Visits Committee is a group of volunteers who organise seven visits to private gardens each year and is composed as follows:

The Museum’s Director continues to be Christopher Woodward, and the team of staff is supported by over 75 volunteers in Front of House, learning, curatorial and gardening.

3) Objectives and Activities

The objectives of the charity are:

This year the Museum also rewrote its Vision, Mission and Values:

Mission: Telling the stories of people, plants and gardens, inspiring change, debate and supporting creativity and offering wellbeing for all.

Vision: We will grow our unique role at the intersection of gardens, art, education and wellbeing/health to become nationally and internationally recognized for our high quality innovative and multisensory programmes.

Values:

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The Garden Museum (A Charity Group)

Report of the Trustees for the year ended 31 March 2024

In order to achieve these objectives we undertake the activities described in “Achievements and Performance” below.

4) Achievements and Performance

4.1 National Portfolio Organisation Status – Christina McMahon, Deputy Director

In April 2023 the Museum officially became a National Portfolio Organisation (NPO), in receipt of £122,250 p.a. from Arts Council England and the Department of Culture, Media and Sport (DCMS). This investment has enabled the Museum to establish a programme of activities which a) engages Lambeth and local residents and b) supports our dynamic business model. Specifically:

This year we have launched our first ever learning programme for family audiences. A new Family Learning Officer, Gemma Clarke, joined us in June 2023, and ran 46 free, drop-in sessions across the year targeting London families, including ‘Tuesday Tots’ and specific sessions for families with experience of neurodivergence. A further 42 sessions for families were run a part of our Food Learning Programme, and together this led to triple the number of children visiting the museum than in any year prior.

NPO investment funded our programme of weekend festivals and fairs:

It also supported the creation of a seventh new festival:

In total, our festivals brought 6,723 people to our site across the year – a record number. Festivals provide vital opportunities for audience engagement and also a financial boost to our restaurant and shop.

NPO investment has allowed us to make the Nave – our central, historic space – totally free of charge for the first time ever, returning it to the community hub our building has been for centuries.

To draw visitors, we programmed free-of-charge exhibitions in the Nave, including Growing Curiosities , a children’s exhibition about plant science.

The biggest project, however, has been the creation of Branch Out, a new weekly series of free-of-charge workshops, talks, performances, and more taking place in the Nave. Branch Out aims to welcome London and Lambeth residents for skills building, meeting new people and connecting people with the natural world through activities centred on green living. This has included hazel weaving, strawberry science, a lecture on a 19th century botanical artist, Tradescant-themed storytelling, cyanotype photography, and more. The programme has been wildly successful, drawing 1,300 people across the year.

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(A Charity Group)

The Garden Museum

Report of the Trustees for the year ended 31 March 2024

Objectives for 2024/25:

4.2 Visitors and Exhibitions – Bea Olivier, Front of House Manager

Objectives in 2023-24:

Admission figures have continued to grow at the Garden Museum. From April 2023 to March 2024 the museum welcomed 46,394 visitors, excluding Café diners. Of this total, 5,616 of these visitors attended the Nave for free, as part of our new Nave Free Entry scheme, made possible through our funding from Arts Council England as a National Portfolio Organisation. This is an increase of just over 29% on the previous year’s admissions which saw 35,787 visitors through our doors. During this we have expand our programming and activities even further, allowing both paid and free visitors alike to get involved the with the Garden Museum, and bringing new audiences and communities with them.

Introduce free entry for visitors Nave-Only

On the 1st of April 2023, as part of the funding as National Portfolio Organisation, the Garden Museum welcomed visitors for free to the Nave only for the first time. From April 2023 to March 2024 the museum welcomed 5,616 visitors for free, surpassing our initial target of 3,000 free admissions to the Nave. During this period, these visitors have been able to enjoy free exhibitions, such as our free family exhibition Growing Curiosities: The Science of Gardens , inspired by zoologist and children’s author Nicola Davis. As we look towards 2024-25, we hope to welcome just as many free visitors, who will be able to enjoy even more free exhibitions, such as Ian Berry: The Secret Garden in Summer 2024.

Provide more activities and crafts available to all visitors

Alongside free entry to the Nave only, we have also expanded the activities and crafts available to visitors, both paid and free. As part of our funding as a National Portfolio Organisation, we have acquired purpose-built tables, which remain permanently in the Nave for all to enjoy. Featured on these tables are an array of crafts and activities developed by the Front of House staff and volunteers. These interactive crafts are inspired by the current exhibitions on display. These have included creating paper flowers, designing and making tropical paper birds, and creating your own bookmark to take away. Where possible, these crafts have been developed to have a minimal environmental impact, using waste paper and old gardening magazines donated by staff and volunteers.

Introduce regularly occurring ‘relaxed’ mornings, allowing visitors to enjoy the museum with reduced sensory stimulation

Whilst the introduction of ‘relaxed’ mornings has been temporarily delayed due to the increase of visitor numbers, several plans have been put in place to increase the offerings available to our visitors who are neurodivergent or would like to enjoy the museum with reduced sensory stimulation. The Learning Team and Front of House are working together to introduce sensory explorer backpacks in 2024, which provide an array of activities that would allow visitors to engage with our collection in new ways, as well as providing items such as ear defenders and a printed social story to make these interactions more accessible.

Facilitate our new ‘Branch Out’ programme, which introduces free, drop-in workshops weekly in the Nave

From April 2023 to March 2024, we had the great pleasure of hosting over 40 free, drop-in workshops, allowing visitors to engage in new topics and activities related to gardening and the natural world. From bulb layering demonstrations to lactofermentation workshops, 1,268 visitors participated in ‘Branch Out’ events throughout the year, and we look forward to welcoming many more in 2024-25.

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(A Charity Group)

The Garden Museum

Report of the Trustees for the year ended 31 March 2024

Objectives for 2024/25:

Objectives in 2023-24:

To explore the garden paintings of artist Jean Cooke

Guest curated by Andrew Lambirth our exhibition Jean Cooke: Ungardening brought together 35 rarely seen works by the artist. It explored Cooke’s paintings of her gardens: a wild, overgrown city plot in Blackheath, London and a clifftop meadow at her coastal Sussex cottage. Her gardens were predominantly uncultivated as Cooke left nature to its own devices.

To explore Antiguan Artist Frank Walter’s work and life through an immersive exhibition

With over 200 paintings, sculptures, letters, documents and photographs which had never been exhibited before, and an immersive set by award-winning designer Jeremy Herbert, this exhibition transported visitors to the warm climate of Walter’s ‘castle on a hill’ studio in coastal Antigua. One of the most significant Caribbean visual artists of the twentieth and twenty-first centuries, Artist, Gardener, Radical delved into Walter’s prolific body of work exploring Antiguan plants and landscapes, environmentalism, Caribbean and Black identity, social justice and the complexity of nature. The exhibition was shortlisted for the Museum and Heritage Award’s Exhibition of the Year, and was a partnership with David Zwirner and guest curator Prof Barbara Paca.

To continue to develop the museum’s online exhibition content

The museum developed curator’s choice films and a tour of the exhibition by Jean Cooke’s son David Bratby exploring his memories of his mother’s garden and artworks. Film maker Thomas Freund created a documentary film to accompany Frank Walter: Artist, Gardener, Radical which explored the themes of his artwork, garden and environmental interests

To continue the programme of selling exhibitions in support of the Museum’s learning work through an exhibition of Jean Marie Toulgouat and the gardens at Giverny and a further exhibition of Studio Coverdale

Jean-Marie Toulgouat: Gardening Giverny presented, in collaboration with David Messum Fine Art, the development of Claude Monet’s garden in Giverny and Toulgouat’s subsequent involvement in the garden’s conservation and restoration. Initially resisting becoming a painter, Toulgouat left Giverny in 1947 to train as an architect. The exhibition explored his return in 1964 to Giverny and his subsequent development as an artist. The exhibition featured 35 original paintings and documents relating to the garden’s renovation. Natasha Coverdale: Digital Botanical explored the work of Sussex based artist and designer who uses digital illustration as her medium. This show featured a special edition artwork inspired by an assortment of visual treasures found in the Garden Museum Archive including seed packets, vintage Suttons catalogues and original botanical plates. A further exhibition Toast x Rosie Harbottle: In Nature We Play was produced in collaboration with Toast. It showcased a new body of work which explored the theme of outdoor pursuits. Inspired by the playfulness of outdoor activities and our interaction with nature Rosie created works in rich colours and bold motifs that celebrated flowers and insects evoking a sense of optimism and joy. Rosie Harbottle led still life workshops encouraging our Branch Out participants to explore oil pastel still life drawing. This incredibly successful programme of exhibitions helped to fund the museum’s educational and community work.

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(A Charity Group)

The Garden Museum

Report of the Trustees for the year ended 31 March 2024

To continue the programme of contemporary artwork and a celebration of community art through The Magazine Space

The museum explored a wide variety of topics through further exhibitions in the museum’s nave and community spaces. Following a series of workshops and drop-in sessions led by our education team the museum showcased a display of participants artworks which celebrated Earth Day. Cabinet Cultures brought together academics, artists and social media content creators to explore the practice of ‘hacking’ mass-produced display cabinets to create indoor greenhouses. It explored how we can collectively change our attitudes towards houseplants for a more ecologically just future. Project Giving Back: Gardens for Good Causes showcased 15 gardens created for RHS Chelsea Flower Show that were inspired by the charities where the gardens were permanently rehouse. Through an interactive display the exhibition explored the collaborative design process and innovative garden design and the communities the gardens now support.

To develop family audiences, family exhibitions and events

Families were encouraged to explore the science of our gardens and the natural world in Growing Curiosities: The Science of Gardens . Inspired by zoologist and children’s author Nicola Davies, and featuring original artwork by illustrators Emily Sutton and Mark Hearld, the exhibition introduced budding biologists to DNA, biodiversity, composting and microbes. Through handson interactives, workshops and science sessions children were encouraged to develop science and creative skills.

To redisplay and reinterpret the Ark gallery and continue to introduce visitors to the Tradescant’s collection

The Museum completed a major research project commissioned from Emily Fuggle, a former Curator, to explore the elder Tradescant’s relationship with the slave trade. This combined with a re-display of The Ark, as five-year loans from the Ashmolean drew to a close, including a new film. The Pitt-Rivers leant precious artefacts including a bow and arrows from 17thcentury West Africa, and were consulted on the labels and interpretation as they have led reflections on relationships between decolonialization and collections. This project was funded by a Restricted Fund established by the Director’s Sponsored Swim in The Arctic Circle in 2017.

To continue to acquire works which illustrate the art, history, design and impact of gardens and gardening

The museum acquired a rare 17th century Mortlake tapestry depicting the month of March and a scene of gardeners working in an estate garden. Dating from 1630s it offers the earliest depiction of a female gardening in our collection.

Other additions to the collection through purchase or donation include:

To develop the museum’s collection displays in diverse and engaging ways.

Working with the museums digital officer the museum has created a series of reels and social media posts which feature the museum's collections in informative and accessible films and posts.

A long-term loan of a portrait of John Ystumllyn has enabled us the put on show an exceptionally rare depiction of a black man painted in his own right and celebrates his gardening career.

Objectives for 2024 – 25

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The Garden Museum (A Charity Group)

Report of the Trustees for the year ended 31 March 2024

4.4 Fundraising – Stefanie Woodford, Head of Development

Objectives for 2023-24

Continue to grow the Friends and Patrons

This year was exceptional for membership. The Friends group grew from 1,528 in May 2023 to 1,821 in May 2024; a huge increase of 19% across the year.

The Patrons group continues to steadily increase with 5 new Patrons signed up during 2023-24. This is particularly successful considering we also increased the Patrons price to £750 from £500 during this financial year.

To conduct a review of pricing structure for the Friends and Patrons schemes

During 2023-2024 we conducted a pricing review and in November in 2023 we increased the suggested Patrons price for the first time since the scheme’s inception in 2009, from £500 to £750. Friends prices also increased for the first time since 2018, with a Friend membership increasing from £40 to £45, Friend + Guest from £55 to £60, and Couple from £60 to £70.

These increased reflect both that there is more to experience at the Museum than ever before, including our exciting programme of exhibitions, talks and garden visits, but also, simply that costs have been rising. This rise will ensure we are able to continue to deliver the same wonderful benefits to Patrons and Friends moving forward and support the wider Museum.

To formerly launch The Design Circle, a new Patrons group specifically for garden designers

Without a full-time fundraiser in the team for Q4 and lack of initial demand to launch the new Design Circle scheme this objective was paused. With a new full-time Head of Development to join in 2024-25 this can be revisited.

Objectives for 2024-25

4.5 Education - Janine Nelson, Head of Learning

Objectives for 2023-24

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The Garden Museum (A Charity Group)

Report of the Trustees for the year ended 31 March 2024

To continue to develop wellbeing strands and Creative Health through food, art and gardening linked to exhibitions.

Janine ran 15 Clay for Dementia sessions and 10 community group sessions linking especially to the Frank Walter exhibition but also to Toulgouat and Jean Cooke.

Gemma and Janine organised two Branch Out events, one making ceramic plates, linked to Frank Walter’s circular paintings and a second one linked to Windrush Day. The Frank Walter exhibition was popular with community groups and visits to the exhibition were combined with bath salt making activities. An example of an activity linked to the Toulgouat exhibition was a mental health group painting paper fans inspired by his paintings (which one lady then brought back with her to use at a subsequent summer session).

Janine and Gemma ran an outreach session at Evelina Hospital School in March 2024 working with children in the classroom and on the wards. Artwork from another session at Evelina Hospital School was included in our Wild Escape display in April 2023. An enterprise project with Queen Elizabeth II Jubilee School (SEND) included making wellbeing products for selling. Ceri continued to run social prescribed seasonal cookery classes

To continue to develop our horticultural and cooking programmed for local teenagers – Sow Grow Eat

We established our monthly Sow Grow Eat sessions in spring 2023 which culminated with a celebration meal in December 2024. 5 teens completed the programme which aimed to teach them how to plant and harvest their own food, as well as how to prepare meals with the produce. Planning for year 2 began at the start of 2024.

To provide engaging programmes for families and community groups linked to our exhibition programmes, including the summer family exhibition, ‘The Science of Gardening’ and our Frank Walter exhibition.

Families – We ran 20 sessions linked and inspired by our exhibitions across Early Years, Family Sunday and Half Term Sessions. These included sessions inspired by our Growing Curiosities, Frank Walter and Studio Coverdale exhibitions. Family food learning sessions took place too.

To provide new family learning programmes including a consistent, year-round parent/carer and toddler programme and a consistent term-time, weekend family programme.

We began consistent sessions in August 2023 with our holiday sessions and have run holiday sessions in every holiday apart from Christmas when the museum is closed, totalling 14 sessions. We launched weekly termtime Family Sunday Sessions and Tuesday Tots Sessions at the beginning of October 2023 and ran 14 Sundays and 17 Tots sessions.

To develop our family SEND and neurodiverse offer.

As part of our holiday programme we have added in a neurodiverse offer which began in October 2023, a total of 2 in that year with more planned for 2024/25.

To build further relationships with community family groups such as IRMO, a Spanish speaking, Lambeth based refugees group.

We ran bespoke sessions in Family Learning during the summer and half term holidays with IRMO. Our Family Learning officer also provided outreach at Lollard Adventure playground, planting seeds with children and young people.

To continue to develop relationships with schools through newsletters for primary and secondary schools and to develop the offer for secondary schools targeting enrichment opportunities.

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(A Charity Group)

The Garden Museum

Report of the Trustees for the year ended 31 March 2024

Samia ran 36 plant science school sessions during this period and three GCSE Biology revision sessions during the Easter holidays reaching 947 pupils in total. The revision sessions were well attended, and several pupils had to be turned away as the classes were full and tutorial in nature.

The first newsletter was sent out to secondary schools detailing successful sessions that had occurred during the year and the range available the following academic year. Due to a funding grant all Lambeth schools from September 2023 to July 2024 were able to attend science sessions without charge. A secondary school teachers evening was held which included two speakers. The plant science lecture was promoted to schoolteachers in the autumn in lieu of a teacher evening the following academic year.

A session for trainee teachers from Brunel University was well attended on February 26th, and it was decided to host this next academic year too. Samia also ran a Branch Out session on the science behind banana ripening as part of a public programming event and later an Instagram film on the same topic. Samia has forged links with a plant scientist who is prominent on social media to exchange ideas to develop new enrichment sessions that will be cross circular.

Objectives for 2024-25

4.6 Archive – Rob Hillman, Archivist

Objectives 1st April 2023 – 31st March 2024

Complete the cataloguing of the Penelope Hobhouse Archive.

Thanks to generous funding from The John R Murray Charitable Trust, the listing and packaging of this collection is now nearly completed, with only final amendments to be made before the collection can be accessible.

Install the Penelope Hobhouse Archive Exhibition.

A Penelope Hobhouse Archive Exhibition has not yet been installed, but remains a priority for a future exhibition.

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(A Charity Group)

The Garden Museum

Report of the Trustees for the year ended 31 March 2024

Begin cataloguing the Andrew Lawson Archive.

Thanks to generous funding from The John R Murray Charitable Trust, this work is now under way. A plan to digitise much of the material in order to make it more readily accessible is also being worked on, which would also allow us to be better able to preserve the slides themselves. Work is also under way to take in a large digital accrual to this collection.

Complete the consultancy work for the Halliday Archive as part of The Records at Risk grant.

The consultancy work has been fully completed, and discussions have taken place with organisations that might be suitable to take in the collection. So far a solution has not emerged, but we will continue conversations with all potential parties.

Complete work to set up the online module for our archive catalogue.

Competing options for an online catalogue platform have been researched, in order to find one that best meets the needs of the archive and our material. Two potential contenders are being considered, and a decision will be made shortly. This will then be implemented and launched in the coming year.

To seek funding for further work to catalogue and make accessible collections In the archive.

We have and will continue to explore potential opportunities, and engage in discussions with potential funders.

Continue working on the Archives Accreditation application form.

Work on improving and implementing policies and procedures has continued, and we are now nearly in a position to make an application. Our newly appointed archivist will lead on this work in the coming year.

Continue to make connections and broaden our audience through the Places, Plants and People Network.

The Archive of Garden Design has continued its participation in the 'People, Places, Plants' Network, attending regular meetings.

Continue to cultivate an online archive presence through The Russell Page Instagram account and regular newsletter features.

We have continued to cultivate our online presence through both blog posts (one regarding the Penelope Hobhouse collection, and one around the Andrew Lawson collection) and through posts on the Garden Museum’s social media channels.

To fundraise for a full time Archivist role

This has been completed, and a full-time Archivist has been appointed, having started at the end of March. This role will lead on many of the key targets for next year, such as applying for accreditation, redisplaying archive material in the galleries, new acquisitions, and activities such as our annual journal and film.

Objectives for 2024-25

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The Garden Museum (A Charity Group)

Report of the Trustees for the year ended 31 March 2024

4.7 The Church Building and Gardens - Christopher Woodward, Director

Objectives for 2023-24

To continue our ambitions for Lambeth Green with Dan Pearson and architect Mary Duggan

In 2021 Mary Duggan Architects were the winner of an open competition in partnership with The Architect’s Journal to design a new pavilion for Lambeth Green, on the site of St Mary’s Gardens, a project in collaboration with Dan Pearson Studio. The pavilion is for horticultural maintenance and training.

A pre-application submission was made to Lambeth Council and the proposals met with great positivity, with the loss of 84 sq m of public space recognised as being offset by the training opportunities and greater investment in the neglected site. The only revision to the design was to the new pedestrian opening in the churchyard wall, which had to be revised to protect the plane trees within the churchyard; in effect, a section of the listed wall has to be demolished to protect the roots of the planes (which have Tree Preservation Orders).

Design work resumed with a generous gift from the Richard Mather David Scrase Foundation to fund Mary Duggan’s fees up to planning, and from the Swire Charitable Trust for the wider team of consultants. The planning application was submitted in March 2024.

To build additional beds in the Healing Garden to help accommodate demand

In Old Paradise Gardens the community activity came to life with weekly sessions, and we welcome groups such as Roots & Shoots and from our own learning programme. The BAND Trust funded a new community garden club led by Jerome Webb each Saturday; furniture was donated by The Whitgift TRA, and The Bessemer Giving Fund through its support of Sow Grow Eat; the Stanley Smith Horticultural Trust funded a new sensory bed. Head Chef Myles Donaldson also grows herbs.

We continued to host meetings of the Whitgift Estate TRA and this is an opportunity to share any issues raised by the new garden.

Objectives for 2024-25

4.8 Public Programmes – Ollie Whitehead, Curator of Public Programmes

Objectives for 2023/24:

To deliver the 2023 Literary Festival at Parham House

The 2023 Literary Festival took place at Parham House in West Sussex, and was hosted by Lady Emma Barnard and her husband James. This was the latest in our series of intimate, boutique festivals which travel to magnificent gardens around the country, including Chatsworth House (2022), Helmingham Hall (2021), Houghton Hall (2019), Boughton House (2017), Haffield House (2015) and Petworth House (2014). Selling out before the line-up of speakers is announced, this year's Literary Festival included talks from Olivia Harrison, Tom Stuart-Smith, Alan Titchmarsh, Shane Connolly, and Robert Sackville-West amongst many, many more.

To mount a fifth iteration of our British Flowers Week exhibition

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(A Charity Group)

The Garden Museum

Report of the Trustees for the year ended 31 March 2024

The annual British Flowers Week exhibition returned in 2023 to champion British-grown flowers, sustainable floristry and the immense talent in floral design found across the country. Five florists hand-picked by the Garden Museum built immersive floral installations around the museum, and transformed the space with the scents and colours of beautiful British-grown blooms over five days in June.

We focus on exhibiting a diverse range of florists from a range of backgrounds, including Botanical Tales, Lucy Vail Floristry, Mahal Kita Flowers, SAGE and Yinari who each created sculptural flower installations using seasonal, sustainably-sourced, British-grown flowers, arranged with environmentally friendly materials and methods. 2023’s edition was opened by Her Majesty, The Queen.

To create a new festival, Winter Flowers Week, celebrating seasonal, sustainable floral design in the festive season

In December 2023 we hosted the first Winter Flowers Week, a week-long celebration of seasonal flowers and foliage through immersive floral festive installations. Our inaugural Winter Flowers Week exhibitors were returning British Flowers Week alumni, all trailblazers in the field and passionate about improving sustainability in the floristry industry: Shane Connolly & Co, Carly Rogers Flowers, Hazel Gardiner Design, Tattie Rose Studio and Floribunda Rose.

Building on the success of our annual summer British Flowers Week exhibition, this new winter edition championed a seasonal and sustainable approach to festive decoration. Like British Flowers Week, our five floral designers will transform the museum into a winter wonderland like no other: with sustainability at the heart, their floral installations used British-grown seasonal flowers and foliage, and environmentally-friendly materials and methods. It became our most visited week of the year.

To expand our programme of talks end lectures even further, and to discuss new and exciting themes and stories

The talks and lectures programme has continued to be a popular and successful strand of activity, and throughout the year has kept growing - lectures now taking place on occasional Friday evenings in addition to regular Tuesday evenings throughout the year.

Using the programme platform to explore themes of art, design, food, sustainability and well-being, we hosted talks with Evan Davis, Dan Pearson and Mary Duggan, Tom Massey and Sarah Price, Tom Marks, Arthur Parkinson and Arit Anderson. The programme has also been useful in building and maintaining partnerships with organisations such as the Architecture Foundation, Goldsmiths, University of London, and Lambeth Council.

Following the success of evening talks, we have also expand the format to include daytime lectures and longer form daytime conferences on themes relating to our exhibition programme and issues faced in the wider greening sector.

Objectives for 2024 - 25:

4.9 Benton End - Christopher Woodward, Director

Objectives for 2023 – 24:

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The Garden Museum (A Charity Group)

Report of the Trustees for the year ended 31 March 2024

To begin the renewal of the walled garden at Benton to be opened to the public in the spring of 2026

To maximise the impact of the Nurture Landscapes garden at the RHS Chelsea Flower Show

In the year under the review the Head Gardener James Horner began the renewal of the walled garden at Benton End, leading to the preparation of a concept with the guidance and advice of Sarah Price as a design consultant; that design will be presented to the Gardens Committee at Benton End and, then, to the Trustees of the Garden Museum. Sarah Price designed the Nurture Landscapes Garden at the Chelsea Flower Show in 2023, and her involvement continues the impact of that exceptional garden.

A grant of £25,000 was received from The Tanner Trust towards the garden renewal and associated learning works, adding to a gift of £30,000 from Project Giving Back and £5,000 from The Broadwall Trust.

James was joined by Jonathan Zerr, a graduate of Hamburg Botanical Gardens, as a Horticultural Trainee funded by WRAGS, and in the garden a weekly group of volunteers from the Hadleigh Environmental Action Team.

To commission the survey, Activity Plan and architectural appraisal required for an Expression of Interest to be submitted to the NLHF

The Expression of Interest for a grant of £2.9 million towards a transformative project of c.£5 million was submitted to the NLHF and a decision is expected in June 2024.

To open Benton End to visits by specialist groups, and for ‘Hidden Hadleigh’

More than 800 people visited for Hidden Hadleigh. This was also the year in which the house came to life with guided tours led by Matthew Hodges, Manager, and with learning groups. In the calendar year 2024 three of Hadleigh’s four schools will visit.

To purchase a safe so that the archive and collection is safe from fire and theft

A safe was purchased with the support of the Barbara Whatmore Charitable Trust, so that a nascent collection and archive – including, for example, the donation by Ian Collins of ‘Shindig’, an anonymous work depicting students partying in the kitchen – is secure.

To formalise the relationship with Babergh District Council in the bid to the NLHF

The application was supported by the Leader of Babergh District Council and included a long-term partnership with Gainsborough’s House on the long-term loan of works by Cedric Morris.

To identify local champions for Benton End To address the risks posed by the possible changes of hands of adjacent properties

Beyond the walls, a group of investors led by a GM Trustee purchased a property Willowbrook to prevent its sale for speculative development at the death of its owner. This property will return a guaranteed investment of 3% p.a., and at the end of 5 years the Garden Museum will have first refusal on its purchase, but no commitment. Although this may be a major opportunity in years to come, Willowbrook is not essential to the project to be presented to the NLHF.

With a generous loan from a Trustee of the Garden Museum the coach-house redecoration commenced and is due to be let out to generate income to subsidise the property.

With a grant from the [Nigel Farrow] Trust Cedric’s old bedroom was decorated and furnished so that the first guests including artists can stay.

Objectives for 2024 – 25:

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(A Charity Group)

The Garden Museum

Report of the Trustees for the year ended 31 March 2024

5) Group Financial Review

The group shows a surplus before depreciation provisions of £204,805 (2022/23: £24,646) which reduces to a deficit of £62,874 (2022/23: £238,429) after depreciation provisions of £267,679 (2022/23: £263,075).

Overall, income increased by £485,973 (17%) to £3,357,899 (2022/23: £2,871,926).

Income from donations and legacies increased to £1,053,148 (2022/23: £837,842) where two new grants from the Foyle Foundation and the Fidelity Foundation were received in towards the end of the financial year. Income from Charitable activities decreased slightly to £551,109 (2022/23: 555,811) and trading income grew by 18% to £1,628,217 (2022/23: 1,379,608).

Grants:

In 2023/24 the Museum has continued to receive strategic grants for its core activities. Grants income increased by 94% to £719,099 in the year (2022/23: £370,742). Notable successes include:

Funding streams:

Historically, the Endowment Fund comprised of restricted income applied to capital expenditure on projects before the 2015-17 Development project. This fund reduces annually by the depreciation applied to this expenditure. The balance on this non-cash element of the fund is currently £114,752 (2022/23: £126,667).

In addition, during 2022/23 the Museum launched an Endowment appeal which would be invested to generate interest / investment income for the Museum for long-term stable funding of our core charitable activity. The capital sum is ring-fenced for this purpose. The appeal generated £81,595 of income in 2023/24 and the balance on the fund was £199,663 at 31 March 2024.

Liquidity:

The Museum ended the year with a positive cash balance of £409,631 (2022/23: £298,254). Creditors within one year amounted to £813,427 (2022/23: £743,060).

Trading activities:

Trading activities have continued to go from strength to strength. Venue hire rose by 22% to £418,573 (2022/23: £343,291) and Café sales by 20% to £1,043,799 (2022/23: £872,678). Shop income grew by 1% to £165,845 from £163,638 in the prior year.

Admissions income was to £289,813 (2022/23: £293,316), boosted by the success of the Lucian Freud: Plant Portraits exhibition in the prior year.

Conclusion:

The year under review has seen significant growth in income from both grants and trading activities. In the year ahead, the group’s financial performance will continue to benefit from becoming an Arts Council National Portfolio Organisation and the forthcoming Gardening Bohemia Exhibition.

Page 16

(A Charity Group)

The Garden Museum

Report of the Trustees for the year ended 31 March 2024

6) Statement of Public Benefit

The public benefit of the Garden Museum is primarily based upon conservation and education, and Trustees agree the year’s budget, programme and projects with these aims in mind.

The most basic conservation benefit is the preservation and opening up of the ancient church of St Mary’s for all visitors – including paying visitors and those coming to use the café, or view the garden. In addition to its role as a Museum, the church building is a place of historic meaning and significant local interest, and in recent years the Learning programme has worked to reconnect the site to the local community of its ancient parish through a varied education programme based around green space, gardening, food, craft and more. The site also has a value to the wider environment: its juxtaposition with Lambeth Palace makes for an iconic London view, and the beautifully planted garden will provide an intimate oasis from hectic city life, which is of great importance to local residents, museum visitors and passers-by.

Our collection of objects and art relating to the history of gardens in Britain is unique, and a major public benefit of the Museum is the care, conservation and display of this national collection. Over 5,000 items embody the story of the relationship between British people and gardens. This is a new angle from which to tell old stories: of who we are, how we express ourselves, and how we interact with others and our own landscape.

Finally, our public programme has a value beyond the Museum in the appreciation and public awareness of gardens which are being rescued, restored or re-designed. There is an increasing recognition of the benefit of gardens and green space to individual well-being, especially in cities.

Our 2017 redevelopment project enabled the Museum to fulfil its potential and increase its benefit to its various publics in national and local terms by enabling it better to (1) support itself financially (through improved café and venue hire facilities, and exhibitions and displays which attract more visitors); (2) conserve the Museum’s historic building through works undertaken as part of the project, and the opening up of heritage narratives within the new church interior and exterior, such as the church tower and memorials and monuments; and (3) directly undertake educational work more effectively through the much-expanded display of the collection, protection of the archive, and greatly increased educational spaces for teaching or private study. In the year under review the Museum was also leading two capital projects; Lambeth Green, our ongoing public realm project in partnership with Lambeth Council, and Benton End, which will revive the former home and art school of Sir Cedric Morris in Hadleigh, Suffolk, as a space for artistic and horticultural training. Both these projects take the Museum’s charitable objectives beyond our walls, providing access to green space and education for more and more people.

7) Risk Register

The Trustees approved a new comprehensive Risk Register June 2023. The Director is responsible for reviewing this Register and informing the Executive Committee and Board of any necessary changes when required. Special monitoring procedures are put in place during critical periods and judgements are taken by the Board and as appropriate by Committees with delegated powers or the Executive about the risks of undertaking, or not undertaking, a certain course of action, and the ways in which such risks can be mitigated. Financial viability continues to be the principal risk facing the Museum, as we continue to operate as an independent charity. Other key risks which are regularly reviewed by Trustees are the governance and control of Benton End, and the significant and importance of the relationship with Lambeth Palace.

8) Trustees' Responsibilities in relation to the Financial Statements

The Trustees (who are also Directors of The Garden Museum for the purposes of company law) are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Practice) as modified by the Financial Reporting Standard 102.

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

In preparing these financial statements, the trustees are required to:

Page 17

The Garden Museum (A Charity Group)

Report of the Trustees for the year ended 31 March 2024

The Trustees are responsible for keeping proper 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 and charity law and regulations. They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention of fraud and other irregularities.

9) Statement as to disclosure of information to auditors

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.

10) Senior Management Team

At the end of the year under review the Senior Management Team was composed of:

11) Auditor

The statutory auditor, Anthony Armstrong FCA of Armstrong & Co, has indicated his willingness to be proposed for reappointment in accordance with Section 485 of the Companies Act 2006.

The charitable company's accounts have been audited under the Companies Act 2006 for the period ended 31st March 2024. The charitable company is required to be audited under charities legislation.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The trustees acknowledge and confirm their responsibilities for preparing the financial statements and providing appropriate information to the auditors as detailed above.

This report was approved by the Board of Trustees and signed on their behalf on 16 December 2024 by:

Rupert Tyler Chair, Trustee

Page 18

(A Charity Group)

AT The Garden Museum

Independent Auditor's Report to the Members and Trustees of The Garden Museum

We have audited the financial statements (the 'financial statements') of The Garden Museum (the 'parent company') and its subsidiary (the 'group') for the year ended 31 March 2024 which comprise the group and parent company statement of financial activities, the group and parent company balance sheets and 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:

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 auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent 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 the provisions available for small entities, in the circumstances set out in Note 2 to the financial statements, 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 charity'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 in the annual report, but does not include the financial statements and our report of the auditors thereon. The trustees are responsible for the other information.

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.

In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Page 19

AT The Garden Museum

(A Charity Group)

Independent Auditor's Report to the Members and Trustees of The Garden Museum

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities set out on page 6, the trustees (who are also the directors of the charitable company for the purposes 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 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 group and parent 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 group or parent charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

These include the Companies Act 2006, the Charities Act 2011, FRS 102, the Charities SORP and GDPR legislation. The charitable company operates locally and is not significantly impacted by international law or regulations.

Taxation law and regulations applicable to charities also apply to the charity group but it is not involved in any complex matters that increase the risk of non-compliance.

Each area of audit review includes in the audit documentation reference to potential non-compliance and awareness of potential non-compliance is embedded in our audit procedures.

Our pre-audit questionnaire specifically makes enquires about fraud and this is supported by audit documentation. We also review Board minutes to identify any matters of concern or risk. None were identified.

Page 20

AT The Garden Museum

(A Charity Group)

Independent Auditor's Report to the Members and Trustees of The Garden Museum

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities . This description forms part of our auditor's report.

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 Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members 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 and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Anthony Armstrong FCA (Senior Statutory Auditor) 4a Printing House Yard for and on behalf of Armstrong & Co Hackney Road Chartered Accountants & Statutory Auditors London E2 7PR 16 December 2024

Page 21

(A Charity Group)

The Garden Museum

Consolidated Statement of Financial Activities incorporating an income and expenditure account

for the year ended 31 March 2024

Notes
Income from:
Donations and legacies
3
Charitable activities
4
Investments
5
Trading activities
6
Other incoming resources
7
Endowment income
8
Total income
Expenditure on:
Raising funds
- Museum activities
9
- Venue, gift shop & café
9
Charitable activities
- Operating expenses
9
- Depreciation provisions
8,12
Total expenditure
Net income/(expenditure)
Transfers between funds
General to endowment
31
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 2024
2023
Total Funds
Total Funds
£
£
1,053,148
837,842
551,109
555,811
5,073
399
1,628,217
1,379,607
38,757
-
81,595
98,267
3,357,899
2,871,926
786,797
356,686
1,109,770
1,016,473
-
-
1,256,527
1,474,121
267,679
263,075
3,420,773
3,110,355
(62,874)
(238,429)
-
-
(62,874)
(238,429)
5,376,548
5,614,977
5,313,674
5,376,548
Unrestricted
Funds		 Restricted
Funds		 Endowment
Funds
£
456,299
551,109
5,073
1,628,217
38,757
-		 £
596,849
-
-
-
-
-		 £
-
-
-
-
-
81,595
2,679,455 596,849 81,595
786,797
1,109,770
-
866,184
18,947		 -
-
-
390,343
236,817		 -
-
-
-
11,915
2,781,698 627,160 11,915
(102,243)
(19,801)		 (30,311)
-		 69,680
19,801
(122,044)
422,813		 (30,311)
4,728,801		 89,481
224,934
300,769 4,698,490 314,415

All incoming resources and resources expended are derived from continuing activities.

There are no gains and losses other than those noted above and therefore no separate statement of total recognised gains and losses has been prepared.

The statement of financial activities incorporates an income and expenditure account.

The accompanying accounting policies and notes form an integral part of these financial statements.

Page 22

(A Charity Company Limited by Guarantee, company number 1413661)

The Garden Museum

Charity Statement of Financial Activities incorporating an income and expenditure account for the year ended 31 March 2024

Notes
Income from:
Donations and legacies
Charitable activities
Investments
Other income
Endowments
Total income
Expenditure on:
Raising funds
Charitable activities
- Operating expenses
- Depreciation provisions
Total expenditure
Net income/(expenditure)
Transfers between funds
General to endowment
31
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 2024
2023
Total Funds
Total Funds
£
£
1,416,417
837,842
551,109
555,811
4,748
264
38,757
-
81,595
98,267
2,092,626
1,492,184
786,797
356,686
-
-
1,256,527
1,474,121
264,799
263,075
2,308,123
2,093,882
(215,497)
(601,698)
-
-
(215,497)
(601,698)
5,007,336
5,609,034
4,791,839
5,007,336
Unrestricted
Funds		 Restricted
Funds		 Endowment
Funds
£
819,568
551,109
4,748
38,757
-		 £
596,849
-
-
-
-		 £
-
-
-
-
81,595
1,414,182 596,849 81,595
786,797
-
866,184
16,067		 -
-
390,343
236,817		 -
-
-
11,915
1,669,048 627,160 11,915
(254,866)
(19,801)		 (30,311)
-		 69,680
19,801
(274,667)
53,601		 (30,311)
4,728,801		 89,481
224,934
(221,066) 4,698,490 314,415

All incoming resources and resources expended are derived from continuing activities.

There are no gains and losses other than those noted above and therefore no separate statement of total recognised gains and losses has been prepared.

The statement of financial activities incorporates an income and expenditure account.

The accompanying accounting policies and notes form an integral part of these financial statements.

Page 23

(A Charity Company Limited by Guarantee, company number 1413661)

The Garden Museum

Consolidated and Charity Balance Sheets

as at 31 March 2024

as at 31 March 20241 March 2024arch 2024rch 2024ch 2024h 202402424
2024
2023
2024
2023
The Charity
The Group
~~ee~~
Notes £ £ £
£
Fixed assets
Tangible fixed assets 14,15 6,141,441 6,394,571 6,136,672
6,391,154
Investments 16,17 - - 2
2
6,141,441 6,394,571 6,136,674
6,391,156
Current assets
Stocks 19 41,480 55,914 -
-
Debtors 20 195,774 90,459 174,883
68,575
Cash at bank and In hand 26 409,631 298,254 342,360
240,178
646,885 444,627 517,243
308,753
Creditors: falling due within one year 21 (813,427) (743,060) (1,200,853)
(972,983)
Net current assets/(liabilities) (166,542) (298,433) (683,610)
(664,230)
Total assets less current liabilities 5,974,899 6,096,138 5,453,064
5,726,926
Creditors: falling due after one year 23 (661,225) (719,590) (661,225)
(719,590)
Net assets 5,313,674 5,376,548 4,791,839
5,007,336
The funds of the charity
General funds
Designated funds		 29, 30 (1,470,200)
(1,353,905)
(1,992,035)
(1,723,117)
1,770,969
1,776,718
1,770,969
1,776,718
~~		 IL_JL_JL_~~
Total unrestricted funds 300,769 422,813 (221,066)
53,601
Restricted funds 31, 32 4,698,490 4,728,801 4,698,490
4,728,801
Endowment funds: Fixed assets
Endowment funds: Appeals
Total endowment funds		 114,752
199,663
314,415
~~a~~		 126,667
98,267
224,934
~~ee ~~		 114,752
126,667
199,663
98,267
314,415
224,934
~~ee~~
Total charity funds 25, 26, 27, 28 5,313,674 5,376,548 4,791,839
5,007,336

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard 102.

The financial statements were approved by the Board of Trustees on 16 December 2024 and signed on its behalf by:

Rupert Tyler Chair, Trustee

The notes on pages 26 to 38 form part of these accounts.

Page 24

(A Charity Company Limited by Guarantee, company number 1413661)

The Garden Museum

Consolidated Cash Flows

for the year ended 31 March 2024

Notes
Cash flows from operating activities:
Net cash provided by/(used in) operating activities
1
Cash flows from investing activities:
Dividends, interest and rents from investments
Purchase of property, plant and equipment
Net cash provided by/(used in) investing activities
Cash flows from financing activities:
Net repayments of borrowing
Net inflows from borrowing
Net cash provided by/(used in) financing activities
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at the beginning of the reporting period
2
Cash and cash equivalents at the end of the reporting period
2
Notes to the Cash Flow Statement
1)
Adjustments for:
Depreciation charges
Dividends, interest and rents from investments
(Increase)/decrease in stock and work in progress
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by/(used in) operating activities
2)
Analysis of cash and cash equivalents
Funds in hand
Total cash and cash equivalents
Reconciliation of net income/(expenditure) to net cash flow from
operating activities
Net income/(expenditure) for the reporting period (as per the statement of
financial activities)		 2024
£
176,714
5,073
(12,885)
(7,812)
(57,525)
-
(57,525)
111,377
298,254
409,631
2024
£
(62,874)
266,015
(5,073)
14,434
(105,315)
69,527
176,714
2024
£
409,631
409,631		 2023
£
170,956
399
(7,454)
(7,055)
(121,300)
-
(121,300)
42,601
255,653
298,254
2023
£
(238,429)
265,955
(399)
15,733
111,129
16,967
170,956
2023
£
298,254
298,254

Page 25

The Garden Museum

(A Charity Group)

Group Accounting Policies

for the year ended 31 March 2024

a. Accounting Convention

The financial statements have been prepared under the historical cost convention and in accordance with:

a) Applicable UK accounting standards, including the provisions of section 1A (Small Entities) of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)".

b) 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 2015) - (Charities SORP FRS 102);

c) the Companies Act 2006.

d) the Charities Act 2011.

b. Group financial statements

These financial statements consolidate the results of the charity and its wholly-owned subsidiary, Tradescant Trading Company Limited, on a line by line basis.

c. Public benefit entity

The charity meets the defination of a public benefit entity under FRS 102.

d. Going concern

The charity's income is derived from both non self-generated sources, such as donations, grants, service level agreements and other governmental or NGO sources and self-generated sources, such as entrance fees, hire income, cafe income, Friends and Patrons subscriptions, etc. The trustees consider that there are no material uncertainties about the likelihood that this support will continue, and accordingly, the accounts have been prepared on a going concern basis.

e. Income recognition

Voluntary income and donations (including legacies) are accounted for once the charity has entitlement to the income, it is probable the income will be received and the amount of income receivable can be reliably measured. Income from the recovery of tax on gift aided donations is accounted for once the tax reclaim has been applied for.

Income from grants is recognised when the charity has a contractual or other right to its receipt, it is probable that the income will be received and that the amount can be measured reliably. Grant income with conditions attached to its receipt is recognised when those conditions have been fulfilled.

Legacies are accounted for in the period in which the charity becomes entitled to receipt.

Friends and life subscriptions are recognised on receipt.

Income from art sales is recognised when the charity has a contractual or other right to its receipt, it is probable that the income will be received and that the amount can be measured reliably.

Income in advance from venue and other hire is treated as deferred income until the event has occurred.

Interest from investments is included when received by the charity.

f. Expenditure recognition

Resources expended are included in the Statement of Financial Activities on an accruals basis.

Cost of generating funds are those costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Charitable activities include the opening of the Museum and gardens to the public, staging of exhibitions, events and seminars and a programme of educational activities. Costs of these activities includes those costs directly attributable to them together with a proportion of support costs.

Governance costs include costs incurred in the governance of the charity and its assets, and are primarily associated with compliance with constitutional, regulatory and statutory requirements.

Support costs include all central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, in proportion to the total of all direct costs attributed to each activity.

Page 26

The Garden Museum

(A Charity Group)

Group Accounting Policies for the year ended 31 March 2024

g. Deferred income

Income received which is contractually or otherwise not expendable until a future period is deferred to the period in which it meets the criteria for income recognition.

h. Hire purchase and leasing commitments

The building occupied by the Museum, the deconsecrated church of St. Mary at Lambeth, is rented from the South London Church Fund and the Southwark Diocesan Board of Finance for a period of 99 years to 28th August 2079 at a rent of £1 a year. Rents payable under operating leases are charged to the Statement of Financial Activities as incurred over the term of the lease(s).

i. Pensions

The charity operates defined contribution schemes which are administered by outside independent pensions providers. Contributions payable for the year are charged to the Statement of Financial Activities.

j. Tangible Fixed Assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Phase 2 - 4% on cost Land & buildings - 2% on cost Gallery - 3% to 33% on cost Furniture & fixtures - 10% to 20% on cost Office equipment - 33% on cost Collections - Nil

k. Heritage Assets

It is the policy of the museum not to capitalise heritage assets.

l. Stocks

Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

m. Investments

Investments are stated at market value at balance sheet date. The statement of financial activities includes net gains and losses arising on revaluations and disposals throughout the period. Investments in subsidiaries are held at cost.

n. Fund structure and accounting

Restricted funds are to be used for specified purposes as laid down by the funder. Direct and support expenditure which meets these criteria are identified to the fund together with a fair allocation of other costs.

Endowment funds are restricted funds which are capital in nature. Permanent endowments exist where there is no power to convert the capital into income. The funds can reduce where there are decreases in value, either by losses or depreciation, of assets represented by the funds.

Designated funds are general funds that the trustees have formally set aside for specific purposes. Apart from set asides for specific projects, the trustees have also set up a designated fund to represent the net book value of fixed assets financed out of general funds. The purpose of this is to represent the amount of general funds that are not available to the charity as they have been expended on assets that sit on the balance sheet.

General funds are funds received which have no restrictions placed on their use and are available for all purposes of the charity.

o. Foreign Currencies

Transactions in foreign currencies are recorded at the rates applying at the date of the transactions.

Page 27

(A Charity Group)

The Garden Museum

Notes to the Consolidated Accounts

for the year ended 31 March 2024

1 FRC Ethical Standard - Provisions available for small entities

In common with many other entities of our size and nature we use our auditors to assist with the preparation of the financial statements and to provide advice relating to statutory and regulatory compliance.

Group Charity
2 Net outgoing resources 2024 2023 2024 2023
Net outgoing resources are stated after charging: £ £ £ £
Auditor's fees - audit services 9,000 9,000 7,000 7,000
Auditor's fees - other services 4,800 4,800 3,800 3,800
Depreciation - owned assets 266,015 265,955 264,799 263,075

The incoming resources and surplus are attributable to the principal activities of the charity group.

Trustees' emoluments

Emoluments include salaries, fees, bonuses, expense allowances and estimated non-cash benefits receivable. All trustees serve in a voluntary capacity and do not receive payment for their services.

3
Donations and legacies
Donations
Friends & patrons subscriptions
Legacies
Grants & trust income
Corporate & sponsorship income		 Unrestricted
£
213,804
84,507
-
122,250
35,738		 Restricted
£
-
-
-
596,849
-		 2024
Total
£
213,804
84,507
-
719,099
35,738
1,053,148		 Unrestricted
£
173,049
72,571
216,480
-
5,000
467,100		 2023
Restricted
Total
£
£
-
173,049
-
72,571
-
216,480
370,742
370,742
-
5,000
370,742
837,842
456,299 596,849
4
5
6		 Charitable activities
Education
Public programmes
Admissions
Other
Investments
Bank & other interest
Trading activities
Tradescant Trading Company Ltd:
Gift shop sales
Venue hire fees
Café sales		 Unrestricted
£
9,875
166,807
289,813
84,614		 Restricted
£
-
-
-
-		 2024
Total
£
9,875
166,807
289,813
84,614
551,109
2024
Total
£
5,073
5,073
2024
Total
£
-
165,845
418,573
1,043,799
1,628,217		 Unrestricted
£
112,770
102,500
293,316
47,225
555,811
Unrestricted
£
399
399
Unrestricted
£
-
163,638
343,291
872,678
1,379,607		 Restricted
£
-
-
-
-		 2023
Total
£
10,120
102,500
293,316
149,875
551,109 - - 555,811
Unrestricted
£
5,073		 Restricted
£
-		 Restricted
£
-		 2023
Total
£
399
5,073 - - 399
Unrestricted
£
-
165,845
418,573
1,043,799		 Restricted
£
-
-
-
-		 Restricted
£
-
-
-
-		 2023
Total
£
-
163,638
343,291
872,678
1,628,217 - - 1,379,607

Page 28

(A Charity Group)

The Garden Museum

Notes to the Consolidated Accounts

for the year ended 31 March 2024

7
Other incoming resources
Museum and galleries exhibition
tax relief
8
Endowment income
Endowment Appeal		 Unrestricted
£
38,757		 Restricted
£
-		 2024
Total
£
38,757
38,757
Unrestricted
£
81,595
81,595		 Unrestricted
£
-
-
£
-
-		 Restricted
£
-		 2023
Total
£
-
38,757 - - -
2024
Total
£
81,595		 2023
Total
£
98,267
81,595 98,267

In 2022-23 the Museum launched an Endowment appeal which would be invested to generate interest / investment income for the Museum which would go towards funding its core operating costs. The capital sum is ring-fenced for this purpose.

9
Expenditure on:
voluntary
income
£
Staff costs
-
Other direct costs
-
Support costs
-
-
10
Analysis of support costs
generating
voluntary
£
Premises
-
Operating
-
Finance and IT
-
-
11
Charitable activities
Human
resources
£
Museum, garden and public opening
-
Events, lectures and seminars
-
Education
-
-
12
Charitable activity support costs
Staff
£
Museum, garden and public opening
-
Events, lectures and seminars
-
Education
-
-		 Staff costs
£
409,299
27,287
54,573		 Raising funds
£
1,023,271
582,865
293,311
1,899,447
Raising funds
£
112,835
132,807
47,669
293,311
Other direct
costs
£
252,883
422,294
-
675,177
Operating
£
128,672
8,661
17,323
154,656		 Charitable
activities
£
491,159
675,177
343,075
1,509,411
Charitable
activities
£
132,459
154,656
55,960
343,075
Support
£
285,687
19,129
38,259
343,075
Finance and
IT
£
46,633
3,109
6,218
55,960		 2024 Total
£
1,514,430
1,258,042
636,386		 2023 Total
£
1,331,805
1,116,305
650,363
3,408,858 3,098,473
2024 Total
£
245,294
287,463
103,629		 2023 Total
£
252,517
304,361
93,485
636,386 650,363
2024 Total
£
947,869
468,710
92,832		 2023 Total
£
1,425,768
159,792
139,754
491,159 1,509,411 1,725,314
Premises
£
110,382
7,359
14,718		 2024 Total
£
285,687
19,129
38,259		 2023 Total
£
425,377
41,770
57,255
132,459 343,075 524,402

Page 29

(A Charity Group)

The Garden Museum

Notes to the Consolidated Accounts

for the year ended 31 March 2024

13
14
15		 2024
2023
Endowment expenses
Unrestricted
Restricted
Total
Total
Depreciation provisions
£
£
£
£
The Ernest Cook Trust
-
278
278
277
Education Fund
-
255
255
255
Gallery Project
-
9,676
9,676
9,650
Gallery projects donations
-
470
470
468
The Weston Foundation
-
1,236
1,236
1,233
-
11,915
11,915
11,883
Staff costs
2024
2023
2024
2023
£
£
£
£
Staff salaries
1,352,903
1,159,870
800,782
662,225
Staff social security
118,684
101,138
75,419
62,871
Staff pensions
42,842
70,796
33,352
62,092
1,514,428
1,331,804
909,553
787,188
1
1
1
1
54
46
41
33

Tangible fixed assets: Group
Courtyard
Building
Gallery
Other Land &
buildings
Furniture &
fixtures
Office
equipment
Total
£
£
£
£
£
£
Cost
As at 1 April 2023
6,007,608
489,761
1,623,305
335,114
58,941
8,514,729
Additions
-
-
-
8,233
4,652
12,885
As at 31 March 2024
6,007,608
489,761
1,623,305
343,347
63,593
8,527,614
Depreciation
As at 1 April 2023
1,434,500
309,464
10,361
312,308
53,525
2,120,158
Charge for the year
240,963
16,960
152
4,507
3,433
266,015
As at 31 March 2024
1,675,463
326,424
10,513
316,815
56,958
2,386,173
Net book value
As at 31 March 2024
4,332,145
163,337
1,612,792
26,532
6,635
6,141,441
As at 31 March 2023
4,573,108
180,297
1,612,944
22,806
5,416
6,394,571
Group
Charity
Employees paid in excess of £60,000 during the current year and
previous year:
Average number of employees during the year was:
The charity considers its key management personnel to be the trustees and the executive director. The total employment benefits
(including employer pension contributions) of the key management personnel were £114,945 (2023: £102,019).		 2024
Total
£
278
255
9,676
470
1,236		 2023
Total
£
277
255
9,650
468
1,233
11,915 11,883
63,593 8,527,614
53,525
3,433		 2,120,158
266,015
56,958 2,386,173
6,635 6,141,441
5,416 6,394,571

Page 30

(A Charity Group)

The Garden Museum

Notes to the Consolidated Accounts

for the year ended 31 March 2024

16 Tangible fixed assets: Charity Courtyard Other Land & Funiture & Office
Building Gallery buildings fixtures equipment Total
£ £ £ £ £ £
Cost
As at 1 April 2023 6,007,608 489,761 1,623,305 330,291 53,867 8,504,832
Additions - - - 5,665 4,652 10,317
As at 31 March 2024 6,007,608 489,761 1,623,305 335,956 58,519 8,515,149
Depreciation
As at 1 April 2023 1,434,500 309,464 10,360 307,743 51,611 2,113,678
Charge for the year 240,963 16,960 152 4,045 2,679 264,799
As at 31 March 2024 1,675,463 326,424 10,512 311,788 54,290 2,378,477
Net book value
As at 31 March 2024 4,332,145 163,337 1,612,793 24,168 4,229 6,136,672
As at 31 March 2023 4,573,108 180,297 1,612,945 22,548 2,256 6,391,154
Fundwise allocation of the NBV of charity assets at 31 March 2024
Designated 96,772 33,006 1,612,793 24,168 4,229 1,770,968
Endowment - 114,752 - - - 114,752
Restricted 4,235,373 15,579 - - - 4,250,952
Total 4,332,145 163,337 1,612,793 24,168 4,229 6,136,672

Included in Other land & buildings additions is a property, Benton End, which was sold to the Museum at undervalue in 2021. The fair value of the property was £1.6m and was purchased for £350K.

17 Investments
Market Value at 31 March
Equities		 2024
2023
£
£
-
-
-
-
Group		 2024
2023
£
£
-
-
-
-
Group		 2024
2023
£
£
-
-
-
-
Group		 2024
2023
£
£
2
2
2
2
Charity		 2024
2023
£
£
2
2
2
2
Charity
2
Type Units Unit value Total
Investment in Tradescant TradingCompanyLtd Equities 2 1.000 2
Total market value at year end 2

Page 31

The Garden Museum

(A Charity Group)

Notes to the Consolidated Accounts

for the year ended 31 March 2024

18 Investments in subsidiary: Charity

At 31 March 2024, the aggregate share capital and reserves of Tradescant Trading Company Limited amounted to a surplus of £521,842 (2023: surplus of £369,219) and an operating surplus before tax for the period of £152,623 (2023: £363,269 surplus).

The Tradescant Trading Company Limited is wholly owned by the Charity and operates a gift shop for museum visitors and venue hire for the general public. The subsidiary has been valued at cost in the accounts of the charity.

The results of Tradescant Trading Company Limited are

Retained profit/(loss) brought forward
Retained profit/(loss) carried forward
Current assets
Current liabilities: due within one year
ompany Limited are
Tangible fixed assets
Interest receivable
Turnover
Cost of sales
Gross profit
Administration expenses
Net profit/(loss) for year
Share capital
Represented by:
Retained profits
Other income		 2024
£
4,769
738,817		 2023
£
3,418
585,157
743,586
(221,744)		 588,575
(219,356)
521,842 369,219
2
521,840		 2
369,217
521,842 369,219
1,628,217
(430,962)		 1,379,607
(403,275)
1,197,255
-
(1,044,957)
325		 976,332
5,000
(618,198)
135
152,623
369,217		 363,269
5,948
521,840 369,217

Balance sheet at 31 March:

Profit and loss account

Stocks
Goods for resale
Debtors: amounts falling due within one year
Operating debtors
Staff wages
Prepayments
Accrued income		 2024
2023
£
£
41,480
55,914
41,480
55,914
2024
2023
£
£
22,668
21,380
-
559
101,659
68,520
71,447
-
195,774
90,459
Group
Group		 2024
2023

£
£
-
-
-
-
2024
2023
£
£
4,901
1,815
-
559
98,535
66,201
71,447
-
174,883
68,575
Charity
Charity

19 Stocks

20 Debtors: amounts falling due within one year

Page 32

The Garden Museum

(A Charity Group)

Notes to the Consolidated Accounts

for the year ended 31 March 2024

21
Creditors: amounts falling due within one year
Operating creditors
Sundry creditors
Amount due to subsidiary
VAT liability
PAYE
Payroll deductions
Pension fund
Accued expenses
Deferred income
Private loan
CAF bank loan
Barclays Bounce Back loan
Dawnay Holdings loan		 2024
2023
£
£
304,123
242,670
19,500
11,650
-
-
44,886
43,050
34,527
31,739
315
-
74,773
89,139
47,126
25,611
191,705
203,572
33,000
33,000
37,571
36,728
10,000
10,000
15,901
15,901
813,427
743,060
Group		 2024
2023
£
£
238,019
159,342
-
-
609,162
449,270
44,886
43,050
34,527
31,739
315
-
74,773
89,139
18,296
16,441
84,403
88,373
33,000
33,000
37,571
36,728
10,000
10,000
15,901
15,901
1,200,853
972,983
Charity

During 2021/22 the Trustees became aware of a potential under-payment in employer's contributions in respect of the Director and a provision of £35,000 was made in the accounts as an accrued expense. Any under-payment could incur an ancillary claim against the Museum for loss resulting from the failure to make payments as and when they fell due. The exact liability is under review and is yet to be determined but a further £35,000 has been accrued in 2022/23 taking the total pension provision to £70,000. Pending the outcome of the review the Trustees have agreed to make additional payments of £2,000 per month into the Director's pension from May 2023 to March 2026 in respect of the contractual shortfall and any consequential loss.

22
Deferred income reconciliation
Balance as at 1 April 2023
Amount released to income earned from charitable activities
Amount deferred in year
Balance as at 31 March 2024
23
Creditors: amounts falling due after one year
Private loan
CAF bank loan
Barclays Bounce Back loan
Deferred purchase payment
24
Maturity of loans
Amount falling due:
In one year or less
Between one and two years
Between two and five years
In five years or more		 2024
2023
£
£
203,572
234,857
(203,572)
(234,857)
191,705
203,572
191,705
203,572
2024
2023
£
£
12,000
30,000
281,725
312,090
17,500
27,500
350,000
350,000
661,225
719,590
2024
2023
£
£
96,472
95,629
69,092
65,864
132,017
510,265
460,116
153,461
757,697
825,219
Group
Group
Group		 2024
2023
£
£
88,373
152,884
(88,373)
(152,884)
84,403
88,373
84,403
88,373
2024
2023
£
£
12,000
30,000
281,725
312,090
17,500
27,500
350,000
350,000
661,225
719,590
2024
2023
£
£
96,472
95,629
69,092
65,864
132,017
510,265
460,116
153,461
757,697
825,219
Charity
Charity
Charity		 2024
2023
£
£
88,373
152,884
(88,373)
(152,884)
84,403
88,373
84,403
88,373
2024
2023
£
£
12,000
30,000
281,725
312,090
17,500
27,500
350,000
350,000
661,225
719,590
2024
2023
£
£
96,472
95,629
69,092
65,864
132,017
510,265
460,116
153,461
757,697
825,219
Charity
Charity
Charity
757,697 825,219

The CAF loan is repayable by September 2031 and is charged at 2.95% above base rate. The loan is secured by a charge on the assets and activities of the charity.

Page 33

The Garden Museum

(A Charity Group)

Notes to the Consolidated Accounts

for the year ended 31 March 2024

25
26
27		 The funds of the Group - current year
Restricted funds
Endowment funds: fixed assets
Endowment funds: appeals
Restricted funds
Total restricted funds
Unrestricted funds
Designated funds
General funds
Total unrestricted funds
The funds of the Group - prior year
Restricted funds
Endowment funds: fixed assets
Endowment funds: appeals
Restricted funds
Total restricted funds
Unrestricted funds
Designated funds
General funds
Total unrestricted funds
The funds of the charity - current year
Restricted funds
Endowment funds: fixed assets
Endowment funds: appeals
Restricted funds
Total restricted funds
Unrestricted funds
Designated funds
General funds
Total unrestricted funds		 Opening
balance
£
126,667
98,267
4,728,801		 Resources
arising
£
-
81,595
596,849
678,444
10,317
2,669,138
2,679,455
3,357,899
Resources
arising
£
-
98,267
370,742
469,009
6,222
2,396,695
2,402,917
2,871,926
Resources
arising
£
-
81,595
596,849
678,444
10,317
1,403,865
1,414,182
2,092,626		 Resources
utilised
£
(11,915)
-
(627,160)
(639,075)
(16,066)
(2,765,632)
(2,781,698)
(3,420,773)
Resources
utilised
£
(11,883)
-
(530,389)
(542,272)
(15,021)
(2,551,062)
(2,566,083)
(3,108,355)
Resources
utilised
£
(11,915)
-
(627,160)
(639,075)
(16,066)
(1,652,982)
(1,669,048)
(2,308,123)		 Other
movements
£
-
19,801
-		 Closing
balance
£
114,752
199,663
4,698,490
4,953,735 19,801 5,012,905
1,776,718
(1,353,905)		 -
(19,801)		 1,770,969
(1,470,200)
422,813 (19,801) 300,769
5,376,548 - 5,313,674
Opening
balance
£
138,550
-
4,890,448		 Other
movements
£
-
-
-		 Closing
balance
£
126,667
98,267
4,730,801
5,028,998 - 4,955,735
1,785,518
(1,199,539)		 -
-		 1,776,718
(1,353,905)
585,979 - 422,813
5,614,977 - 5,378,548
Opening
balance
£
126,667
98,267
4,728,801		 Other
movements
£
-
19,801
-		 Closing
balance
£
114,752
199,663
4,698,490
4,953,735 19,801 5,012,905
1,776,718
(1,723,117)		 -
(19,801)		 1,770,969
(1,992,035)
53,601 (19,801) (221,066)
5,007,336 - 4,791,839

Page 34

(A Charity Group)

The Garden Museum

Notes to the Consolidated Accounts

for the year ended 31 March 2024

28
29
30		 The funds of the charity - prior year
Opening
balance
£
Restricted funds
Endowment funds: fixed assets
138,550
Endowment funds: appeals
-
Restricted funds
4,890,448
Total restricted funds
5,028,998
Unrestricted funds
Designated funds
1,785,518
General funds
(1,205,481)
Total unrestricted funds
580,037
5,609,035
Designated funds: Group & Charity - current year
Opening
balance
£
Fixed assets fund
1,776,718
1,776,718
Designated funds: Group & Charity - prior year
Opening
balance
£
Fixed assets fund
1,785,518
1,785,518		 Opening
balance
£
138,550
-
4,890,448		 Resources
arising
£
-
98,267
370,742
469,009
6,222
1,016,954
1,023,175
1,492,184
Resources
arising
£
10,317
10,317
Resources
arising
£
6,222
6,222		 Resources
utilised
£
(11,883)
-
(532,389)
(544,272)
(15,021)
(1,534,589)
(1,549,610)
(2,093,882)
Resources
utilised
£
(16,066)
(16,066)
Resources
utilised
£
(15,021)
(15,021)		 Other
movements
£
-
-
-		 Closing
balance
£
126,667
98,267
4,728,801
5,028,998 - 4,953,735
1,785,518
(1,205,481)		 -
-		 1,776,718
(1,723,117)
580,037 - 53,601
5,609,035 - 5,007,336
Transfers &
adjustments
£
-		 Closing
balance
£
1,770,969
1,776,718 - 1,770,969
Opening
balance
£
1,785,518		 Transfers &
adjustments
£
-		 Closing
balance
£
1,776,718
1,785,518 - 1,776,718
Fixed assets fund
Funds expended on fixed asset purchases. The balance of the fund represents the net
book value of fixed assets not funded by restricted funds or loans. The movement on the
fund represents the affect of additions, disposals and depreciation charges.
31
Restricted funds: Group & Charity - current year
Collections
Archives
Benton End
Crescent Trust
Development
Education
Endowment and legacies
Exhibitions
Lambeth Green
Building, Infrastructure and Gardens		 Opening
balance
£
-
44,383
77,842
10,000
4,487,769
46,783
-
15,000
(6,250)
53,270		 Incoming
resources
£
14,000
117,630
108,099
-
-
76,600
85,890
19,000
151,630
24,000
596,849		 Resources
expended
£
14,000
62,107
77,380
-
236,817
82,661
4,000
15,000
84,932
50,263
627,160		 Transfers &
adjustments
Closing
balance
£
£
-
-
-
99,906
-
108,561
-
10,000
-
4,250,952
-
40,722
-
81,890
-
19,000
-
60,448
-
27,007
-
4,698,490
4,728,801

Page 35

(A Charity Group)

The Garden Museum

Notes to the Consolidated Accounts

for the year ended 31 March 2024

32
Restricted funds: Group & Charity - prior year
Archives
Benton End
Crescent Trust
Development
Education
Exhibitions
Lambeth Green
Building, Infrastructure and Gardens		 Opening
balance
£
22,671
-
10,000
4,723,939
58,112
-
36,365
39,357		 Incoming
resources
£
65,000
154,002
-
-
67,722
17,000
8,500
58,518
370,742		 Resources
expended
£
43,288
76,160
-
236,170
79,051
2,000
51,115
44,605
532,389		 Transfers &
adjustments
Closing
balance
£
£
-
44,383
-
77,842
-
10,000
-
4,487,769
-
46,783
-
15,000
-
(6,250)
-
53,270
-
4,728,801
4,890,448

Restricted funds (continued)

Projects financed by restricted funds are supported by unrestricted funding where necessary. This occurs where the funding is in arrears or the incidence of expenditure on the project occurs disproportionately at the beginning of the project compared to the income flows. Where restricted projects end the year with a deficit, this is met by after year-end restricted income or transfers from unrestricted funds.

Fund name Purpose of restricted funds
Collections Acqusitions aspart of collections.
Archives Funding the cost of the Archive of Garden Design including two Archivist roles and running
and project costs.
Benton End To fund the garden development, administrative work and business strategy for Benton
End, Suffolk.
Crescent Trust To fund the creation of a new film for the Archive of Garden Design.
Development To fund the expansion of the Museum enabling the provision of enhanced facilities for
Research, Conservation, Exhibitions and Events within the terms of the application to the
Heritage Lottery Fund.
Education Funds for Community, Science and Food Learning, including Clay for Dementia, and
school visits.
Endowment and legacies Recruitment of the new role of Development Manager: Endowment and Legacies, and
associated campaign activities to establish and grow an endowment.
Exhibitions Funding received for support of current and future Exhibitions – Frank Walter in 2022/23
and Lost Gardens of London in 2023/24.
Lambeth Green Project to transform 5.3 acres of public realm adjacent to the Garden Museum into a series
of new parks and interconnected public green spaces, and to build a landmark new public
garden.
Building, Infrastructure and
Gardens		 To fund an annual Traineeship for a recent talented graduate in Horticulture and
development of the Healing Garden in Old Paradise Gardens..
33
Net assets attributable to funds: Group - current year
Tangible fixed assets
Investments
Current assets
Current liabilities
Long term liabilities
Net assets represented by funds		 Unrestricted
funds
£
1,775,737
-
(316)
(813,427)
(661,225)
300,769		 Restricted
funds
£
4,250,952
-
447,538
-
-
4,698,490		 Endowment
funds
Total
£
£
114,752
6,141,441
-
-
199,663
646,885
-
(813,427)
-
(661,225)
314,415
5,313,674

Page 36

(A Charity Group)

The Garden Museum

Notes to the Consolidated Accounts

for the year ended 31 March 2024

34
Net assets attributable to funds: Charity - current year
Tangible fixed assets
Investments
Current assets
Current liabilities
Long term liabilities
Net assets represented by funds
35
Net assets attributable to funds: Group - prior year
Tangible fixed assets
Investments
Current assets
Current liabilities
Long term liabilities
Net assets represented by funds
36
Net assets attributable to funds: Charity - prior year
Tangible fixed assets
Investments
Current assets
Current liabilities
Long term liabilities
Net assets represented by funds		 Unrestricted
funds
£
1,770,969
2
(129,958)
(1,200,853)
(661,225)
(221,065)
Unrestricted
funds
£
1,780,135
-
105,328
(743,060)
(719,590)
422,813
Unrestricted
funds
£
1,776,718
2
(30,546)
(972,983)
(719,590)
53,601		 Restricted
funds
£
4,250,952
-
447,538
-
-
4,698,490
Restricted
funds
£
4,487,769
-
241,032
-
-
4,728,801
Restricted
funds
£
4,487,769
-
241,032
-
-
4,728,801		 Endowment
funds
£
114,752
-
199,663
-
-		 Total
£
6,136,673
2
517,243
(1,200,853)
(661,225)
314,415 4,791,840
Endowment
funds
£
126,667
-
98,267
-
-		 Total
£
6,394,571
-
444,627
(743,060)
(719,590)
224,934 5,376,548
Endowment
funds
£
126,667
-
98,267
-
-		 Total
£
6,391,154
2
308,753
(972,983)
(719,590)
224,934 5,007,336

37 Taxation

The holding company is a registered charity and does not trade or undertake non-charitable activities and therefore is exempt from tax under UK taxation law.

Tradescant Trading Company Limited is a trading company and is taxed on its profits at the prevailing small companies rate. Where funds allow, Tradescant Trading Company Limited donates its profits to The Garden Museum.

38 Post balance sheet events

There were no significant post balance sheet events.

39 Pension commitments

The charity contributes to employee's defined contribution stakeholder pension schemes. The assets of the schemes are held separately from those of the charity in an independently administered fund.

The unpaid contributions outstanding at the year end were:

2024 2023
£ 74,773 £ 89,139

Page 37

The Garden Museum

(A Charity Group)

Notes to the Consolidated Accounts

for the year ended 31 March 2024

40 Transactions with trustees

At 31st March 2024, the charity owed Mark Fane, a trustee, £30,000 (2023: £48,000).

The Bryan and Sirkka Sanderson Foundation provided an interest free loan to the charity to meet its working capital requirements. The loan is repayable on demand. At 31st March 2024, the charity owed the foundation £15,000 (2023: £15,000).

In 2021/22 Dawnay Holdings PLC, a company controlled by Edward McMullan, a trustee, provided a loan of £85,500 at an interest rate of 1% per annum. The loan was provided to pay off the balance owed to Rooff Ltd who were charging interest at 5.25% on the balance outstanding. Subsequent to the year-end, Edward McMullan personally made a donation to the Museum to cover the interest charged by his company, effectively making the loan cost free. The loan is repayable in 21 equal monthly installments. At 31 March 2024, the charity owed the company £15,901 (2023: £15,901).

During the year the charity paid £3,000 (2023: £Nil) to Hazel Gardiner Design, a floral studio owned by Hazel Gardiner, a trustee. The payments are for floral installations at Gardening Giverny, Winter Flowers week and speaking at the Literary Festival.

41 Contingent liabilities

The charitable group had no material contingent liabilities at 31 March 2024.

42 Related parties transactions

Apart from those detailed in note 40, there were no other related party transactions during the year.

43 Gifts in kind and volunteers

During the year, the charitable group benefited from unpaid work performed by volunteers.

44 Holding company status

The holding company is limited by guarantee and has no share capital. The guarantor's liability in the event the company is wound up is restricted to a maximum of £1 each.

Page 38