REGISTERED COMPANY NUMBER: 04366549
REGISTERED CHARITY NUMBER: 1090796
The Batsford Foundatlon
Report of the Trustees and
Audited Financial Statements
for the Year Ended 31st January 2024
Woodward Hale Llmited
38 Dollar Street
Cirencester
Gloucestershire
GL7 2AN

Registered number: 04366549
The Batsford Foundation
Contents of the Flnanclal Statements
for the Year Ended 31st January 2024
Page
Report of the Trustees
Report of the Independent Auditors
Consolidated Statement of Financial Actlvities
io
Charity and Consolidated Balance Sheet
li
Consolidated Cash Flow Statement
12
Notes to the Consolidated Cash Flow Statement
13
Notes to the Financial Statements
14 to 29

Registered number: 04366549
The Batsford Foundation
Report of the Trustees
for the Year Ended 31st January 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their
report with the financial statements for the year ended 31st January 2024. The accounts consolidate the
financial statements of the charity and its subsidiary undertaking, Batsford Garden Centre Limited. The trustees
have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice
applicable to charities preparing their accounts in atcordance with the Financial Reporting Standard applicable
in the UK and Republlc of Ireland IFRS 1021 {effective l January 20191.
OBJECTIVES AND ACTIVITIES
Objectlves and aims for the public benefit
Under the memorandum of association, the objects of the charity are the general purposes of such charitable
bodies or for such other purposes as shall be exclusively charitable as the trustees may from time to time
decide particularly-
the advancement of the education of the public in the knowledge and practice of all forms of cultivation and
the study of historic buildings and their contents and surroundings including gardens, arboretums and historic
landscapes and the promotion of research therein
the promotion of the conservation, protection and improvements of the physical and natural environment
The charity's strategy for pursuing its objectives fall into the following main activities=
adherence to good practice in the management of the arboretum
providing educational opportunities to schoolchildren
efficiently administering the charity
controlling the charity in an effective manner
management of investments to optimise returns
Significant activities for the public benefit
Conservation at Batsford falls broadly into two categories; botanical conservation of exotic plant varieties and
conservation of native flora and fauna. The former is the main priority but with such a varied habitat there is
plenty of scope to develop the latter as well. Various botanic gardens have supplied wild collected seeds and
plants to the arboretum. These are all recorded enabling them to be traced if the source garden requires anv
information or plant material for breeding programmes in the future.
In particular, the plant collections will be managed to:
maintain or improve their integrity or educational value
maintain and enhance the aesthetic appeal of the arboretum
source plant material having due regard to the arboretum's history, its links with the orient and the
collections created by the 2nd Lord Dulverton Irecognising the need to conserve biodiversity, the arboretum
will as far as possible obtain plants from known sourcesl
be accurately labelled, recorded onto a database and the information made readily available if required
It 15 the aim of the trustees of the arboretum to encourage more people to vlsit this unique heritage
throughout the seasons.
Page I

Registered number: 04366549
The Batsford Foundation
Report of the Trustees
for the Year Ended 31st January 2024
ACHIEVEMENT AND PERFORMANCE
In a sector where performance is much influenced by the weather, the extension to the main building proved
its worth in supporting activity and visitor numbers in a year dominated by wet conditions {which did extend
the season for autumn colourl. We have continued to benefit from the development of Seven Leys as an
addition area of the arboretum with panoramic views from the top, increasingly established planting and the
new lakelreservoir. Drawing on springs, that reservoir provides a new wildlife habitat and gives a water reserve
to protect our plants, giving resilience in the face of advancing cllmate change. The successful development of
an array of solar canopies in the upper car park now supplies a significant fraction of the electricity used on the
property, ensuring and protecting the Foundation's operations in a way consistent with the Foundation's remit.
The management and improvement of the collectlon wlth the natural challenges in doing this has continued. A
disease resistant elm was planted to mark the coronation of His Majesty King Charles111. Contact was resumed
after the pandemic with the local gardening clubs. A plant search facility has been developed for the website
and can be developed further a5 a guide to the arboretum. The work of the foundation has been promoted to
the wider public. The Foundation is looking forward to further enhancing the arboretum with what it offers to
visitors and the support given to education and visiting groups as well as its donations and suppprt given to
gardening clubs.
FINANCIAL REVIEW
Investment policy
The tru5tees' policy is to undertake investments that provide income for current activities while enhancing
underlying capital value. They periodically review performance to ensure the best outcome.
Re5erve5 policy
The trustees, policy is to maintain a level of reserves at approximately IO% of incoming resources from
generated funds, sufficient to provide a stable base for the charity's continuing activities while at the same
time ensuring excessive funds are not accumulated. Net current assets at 31st January 2024 were £435,958
12023.. £273,296} against IO% of unrestricted incoming resources from other trading activities and investment
income of £129,028 (Page 10112023= £109,819). The high value of stocks within net current a55ets belie the
actual funds held in cash and in bank.
Performance
Total unrestricted incoming resource5 were £2,096,597 (Page 101 {2023: £1,836.1381 and total unrestricted
resources expended were £1,856,809 (Page 10112023.. £1,655.6491. The principal funding sources were garden
centre sales and arboretum admissions. Net income lunrestricted funds) shows a surplus of E199,230 (Page 101
compared to £176,192 in the prior year. Total unrestricted funds have increased to £5.458,857 from
E5,259,627 in the prior year (Page 101.
FUTURE PLANS
The Foundation is working to ensure that its facilities give the greatest benefit both through their efficient use
and smooth operation and by developing the conservation activity and experience offered to visitors.
The Foundation continues to attend to developing the collection and the condition of the fabric of the
arboretum. The planting programme is designed to extend the season, enhancing the arboretum for the spring
to complement its traditional strengths in the autumn and developing the collection for the future.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is a company limited by guarantee and is governed by its memorandum and articles of association.
Page 2

Registered number: 04366549
The Batsford Foundation
Report of the Trustees
for the Year Ended 31st January 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT- continued
Organisational structure
The strategic direction and development of the charity is managed by the trustee board. It receives regular
reports on all aspects of the work of the charity and meets at least three times a year. The day-to.day
operation of the charity is devolved to the company secretary and the director of operations. The charity has a
wholly-owned subsidiary called Batsford Garden Centre Limited. The company is limited by shares and is used
for non-primary purpose trading activities,
Induction and training of new trustees
New trustees receive an induction to brief them on their legal obligations under charity and company law, the
content of the memorandum and articles of association, the decision-making processes, the business plan and
the recent financial performance of the charity. Trustees are encouraged to attend appropriate external
training events where these will facilitate the undertaking of the role.
Pay policy for senior employees
The day-to-day operation of the charity is devolved to the company secretary and the director of operations.
The remuneration of senior staff is reviewed annually and aims to pay a competitive package to ensure the
retention of individuals that demonstrate ability. The trustees give their time freely.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
04366549
Registered Charity number
1090796
Registered office
Harts Barn Farmhouse
Monmouth Road
Longhope
Gloucestershire
GL17 OQD
Trustees
Sir James Chichester Bt
NDDunn
T D Russell- resigned on 10th February 2023
N M William5-Ellis
The Hon R l H Wills
Company Secretary
J P Moody
Auditors
Woodward Hale Limited
38 Dollar Street
Cirence5ter
Gloucestershire
GL7 2AN
Page 3

Registered number.. 04366549
The Batsford Foundation
Report of the Trustees
for the Year Ended 31st January 2024
REFERENCE AND ADMINISTRATIVE DETAIL5- continued
Bankers
HSBC
High Street
Moreton-in-marsh
Gloucestershire
GL56 OAR
Solicitors
Farrer & Co
66 Lincoln's Inn Fields
London
WC2A 3LH
Director of Operations
S Priest
PUBLIC BENEFIT
The trustees confirm that they have complied with the duty in section 17151 of the Charities Act 2011 to have
due regard to public benefit guidance published by the Charity Commission.
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The trtjstees {who are also the directors of The Batsford Foundation for the purposes of company lawl are
responsible for preparing the Report of the Trustee5 and the financial statements in accordance with applicable
law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and
fair view of the state of affairs of the charitable company and of the incoming resources and application of
resources. including the income and expenditure, of the charitable company for that period. In preparing those
financial statements. the trustees are required to
select suitable accounting policies and then apply them consistentlv;
observÈ the methods 2nd principles in the Charity SORP.
make judgements and estimates that are reasonable and prudent,.
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
charitable company will continue in business.
The trustees are responsible for keeping proper accounting record5 which disclose with reasonable accuracy at
any time the financial position of the charitable company and to enable them to ensure that the financial
statements comply with the Companies Act 2006. They are also responsible for safeguarding the a55ets of the
charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other
irregularities.
In 50 far as the trustees are aware:
there is no relevant audit information of which the charity's auditors are 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 auditors are aware of that information.
Page 4

Registered number.. 04366549
The Batsford Foundation
Report of the Trustees
for the Year Ended 31st January 2024
Approved by order of the board of trustees on
and signed on its behalf by-
I￿)￿1. (ALL
Sir James Chichester Bt - Trustee
Page 5

Registered number: 04366549
Report of the Independent Auditors to the Members of
The Batsford Foundation
Opinion
We have audited the financial statements of The Batsford Foundation Ithe 'parent charitable company'l and its
subsidiary Ithe 'group'l for the year ended 31st January 2024 which comprise the Consolidated Statement of
Financial Activities, the group and parent charitable company Balance Sheets. the Consolidated Cash Flow
Statement 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 FRS 102 The Financial Reporting Standard applicable in the UK and Republic of
Ireland Iunited Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and faif view of the state of the group's and of the parent charitable company's affairs as at
31st January 2024 and of the group's and parent charitable company's incoming resources and application
of resources. including its income and expenditure, for the year then ended..
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice:
and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUK)) and applicable
law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the
audit of the group financial statements section of our report. We are independent of the group and parent
charitable company in accordance with the ethical requirements that are relevant to our audit of the financial
statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is
sufficient and appropriate to provide a basis fof our opinion.
Conclusions relating to going concern
In auditing the financial statements. we have concluded that the trustees, use of the going concern ba515 of
accounting in the preparation of the financial statements 15 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 Slgnificant doubt on The Batsford Foundation'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 trustees are responsible for the other information. The other information comprises the information
included in the Annual Report, other than the group financial statements and our Report of the Independent
Auditors thereon.
Our opinion on the group 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 group financial
statements or our knowledge obtained in the course of the audit or otherwise appears to be materiallv
misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to
determine whether this gives rise to a material misstatement In the group financial statements themselves. If,
based on the work we have performed, we conclude that there is a material misstatement of th15 other
information, we are required to report that fact. We have nothing to report in this regard.
Page 6

Registered number: 04366549
Report of the Independent Auditors to the Trustees of
The 8atsford Foundation
Opinlons on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit..
the information given in the Report of the Trustees for the financial year for which the financial statements
are prepared is consistent with the financial statements
the Report of the Trustees has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exceptlon
In the light of the knowledge and understanding of the group and the parent charitable company and their
environment obtained in the course of the audit, we have not identified material misstatements in the Report
of the Trustees.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006
requires us to report to you if, in our opinion..
adequate accounting records have not been kept by the parent charitable company, or returns adequate for
our audit have not been received from branche5 not visited by us,. or
the parent charitable company financial statements are not in agreement with the accounting records and
return5; or
certain disclosures of trustees, remuneration Specified by law are not made; or
we have not received all the information and explanations we require for our audit- or
The trustees were not entitled to prepare the financial statements in accordance with the small companies
regime and take advantage of the small companie5. exemption5 in preparing the tru5tees' report and from
the requirement to prepare a strategic report.
Responsibilities of trustees
As explained more fully in the Statement of Trustees, Responsibilities, the trustees (who are also the directors
of the parent charitable company for the purposes of company lawl 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 trustee5 determine is necessary to enable the preparation of financial statements that are free from
material misstatement, whether due to fraud or error.
In preparing the financial statements. the trustees are responsible for assessing the group's and the parent
charitable company's ability to continue as a going concern, disc105ing, a5 applicable, matters related to going
concern and using the going concern basis of accounting unless the trustees either intend to liquidate the
group or the parent charitable company or to cease operations. or have no realistic alternative but to do so.
Page 7

Registered number.. 04366549
Report of the Independent Auditors to the Trustees of
The Batsford Foundation
Auditor's 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 audit 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 {UKI 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.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below..
We identify and access the risk of material misstatements to the financial statements, whether due to fraud or
error, and then design and perform audit procedures responsive to those risks. including obtaining audit
evidence that is sufficient and appropriate to provide a basis for our opinion. In identifying and addressing
risks of material misstatements with respect to irregularities, including fraud and non-compliance with laws
and regulations, our procedures included the following.. we obtained an understanding of the laws and
regulations that affect the charity, focussing on those that have a direct effect on the financial statements or
that have a fundaments effect on its operations,. we enquired of the directors and reviewed directors meeting
minutes for evidence on non-compliance with relevant laws and regulations.. we reviewed controls the
directors have in place to ensure compliarice,. we gained an understanding of the controls that the directors
have in place to prevent and detect fraud; we enquired of the directors about any incidences of fraud that had
taken place during the accounting period.. the risk of fraud and non-compliance with laws and regulations was
discussed within the audit team and tests were planned and performed to address these risk5,' we reviewed
financial statements disclosures and tested to supporting documentation to access compliance with the
relevant law5 and regulation5- we enquired of the directors about actual and potential litigation and claims,. we
performed analytical procedures to identify any unusual or unexpected relationships that might indicate risk5
of material misstatements due to fraud: and finally- in addressing the risk of fraud due to management
override of internal controls, we tested the appropriateness of journal entries and assessed whether the
judgements made in making accounting estimates were indicative of a potential bia5. Due to the inherent
limitations of an audit, there is an unavoidable risk that we may not have detected all material mi5Statements
in the financial statements, even though we have properly planned and performed our audit in accordance
with accounting standards. For example, as with any audit, there remains a risk of non-detection of
irregularities that arise from collusion. forgery, intention31 omissions. misrepresentations, or the override of
internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and
cannot be expected to detect all fraud and non-compliance with laws and regulations.
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
Report of the Independent Auditors.
Page 8

Registered number: 04366549
Report of the Independent Auditors to the Trustees of
The Batsford Foundation
Use of our report
This report is made solely to the parent 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 auditorfs 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 parent charitable company and the parent charitable company's members as a body and the
parent charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have
formed.
Vincent Cowling (Senior Statutory Auditor)
for and on behalf of Woodward Hale Limited, Statutory Auditor
Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006
38 Dollar Street
Cirencester
Gloucèstershire
GL7 2AN
28th January 2025
Page 9

Registered number.. 04366549
The Batsford Foundation
Consolidated Statement of Financial Activities
(Incorporating an Income and Expenditure Account)
for the Year Ended 31stJanuary 2024
2024
Total
funds
2023
Total
funds
Unrestricted
fund
Restricted
funds
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2,000
7,580
9,580
3,743
Charitable activittes
Arboretum
Other trading activities
Investment income
804,316
1,149,921
140,360
804.316
1,149,921
140,360
737,948
995.181
103,009
Total
2,096.597
7,580
2,104,177
1,839.881
EXPENDITURE ON
Raising funds
Fundraising
Other trading activities
Investment management costs
1,005
1,089,329
96,015
1,005
1,089,329
100.535
996,907
83,302
4,520
1,186,349
4,520
1,190,869
1,080,209
Charitable activities
Arboretum
Donations
665.330
5.130
1,872
667,202
5.130
575,427
6.000
Total
1.856,809
6.392
1.863,201
1.661.636
Net gain51llossesl on investments
17
{40,5581
140,5581
14,2971
NET INCOME/{EXPENDITURE)
199,230
1,188
200,418
173,948
RECONCILIATION OF FUNDS
Fund balances brought forward
5,259.627
66,711
5,326,338
5.152.390
Fund balances carried forward
21
5.458,857
67,899
5,526,756
5,326.338
All activities relate to continuing activities. There were no other reco8nised gains or losses other than those stated
above.
The notes form part of these financial statements
Page 10

Registered number.. 04366549
The Batsford Foundation
Balance Sheets
31stJanuary 2024
The Group
The Charity
2024
2023
2024
2023
Notes
FIXED ASSETS
Tangible assets
Investments
16
17
4,699,430
391,368
4,642,605
410,437
4,591,461
496,368
4,544,014
515,437
5,090,798
5,053,042
5,087,829
5,059,451
CURRENT ASSETS
Stocks
Debtors
Cash at bank and in hand
18
19
293,616
76,721
423,888
274,272
118,748
155,807
285,625
361.328
343.081
155,807
794,225
548,827
646,953
498,888
CREDITORS
Amounts falling due within one year
20
1358,267)
1275.5311
1199.1561
(199,1191
435,958
273,296
447,797
299,769
TOTAL ASSETS LESS CURRENT LIA81LITIES
5,526,756
5,326,338
5,535,626
5,359,220
NET ASS￿5
5,526,756
5.326.338
5,535,626
5,359.220
FUNDS
Unrestricted funds:
Geneial fund
Restricted funds..
Leaves for Learning project
Play Area project
The Art of Conservation lino print
Bricks in the Wall project
Head gardener seed collection travel costs
Forest School project
Floating islands project
21
5.458.857
5,259,627
5,467,727
5,292.509
39,838
43,358
1,000
864
16.008
5.000
481
39,838
43,358
1,000
864
16,008
5,000
481
734
19,751
5.000
332
2,244
734
19,751
5.000
332
2,244
TOTAL FUNDS
5.526,756
5,326,338
5,535,626
5,359.220
The financial statements were approved by the Board of Trustees and authorised for issue on .. ..
were signed on its behalf by:
James Chichester Bt - Trustee
The notes form part of these financial statement5
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Registered number: 04366549
The Batsford Foundation
Consolldated Cash Flow Statement
for the Year Ended 31st January 2024
2024
2023
Notes
Cash flows from operatin8 activities
Cash generated from operations
492,344
119,301
Net cash provided by operating activities
492,344
119,301
Cash flows from investing actlvlties
Purchase of tangible fixed assets
Purchase of fixed asset investments
Sale of tangible fixed assets
Sale of fixed asset investments
Interest received
Dividends received
1212,5391
121,4931
i.soo
11,076,293>
1439,6101
41.750
612.096
127
11,510
2,786
5,483
{224,2631
{850.4201
Change in cash and cash equivalents in the reporting period
268,081
1731.1191
Cash and cash equivalents at the beginning of the reporting
period
155,807
886,926
Cash and cash equivalents at the end of the reporting period
423.888
155,807
The notes form part of these financial statements
Page 12

Registered number.. 04366549
The Batsford Foundation
Notes to the Consolidated Cash Flow Statement
for the Year Ended 31st January 2024
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING
ACTIVITIES
2024
2023
Net income for the reporting period (as per the Statement of Financial
Activities)
Adjustments for:
Depreciation charges
Loss/lgainl on investments
IProfit)/loss on disposal of fixed assets
Interest received
Dividends received
{Increasel/decrease in stocks
Ilncreaselldecrease in debtors
Increase/{decreasel in creditors
200,418
173,948
153,481
40,558
734
{2,7861
{5,4831
{19,3441
42,027
82.739
121,153
4,297
{9971
1127}
{11,5101
{70.760}
149.5791
147,1241
Net cash provided by operations
492,344
119,301
ANALYSIS OF CHANGES IN NET FUNDS
At 112123
Cash flow
At 31/1124
Net cash
Cash at bank and in hand
155,807
268.081
423,888
The notes form part of these financial statements
Page 13

Registered number.. 04366549
The Batsford Foundation
Notes to the Financial Statements
for the Year Ended 31stJanuary 2024
ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 1021 '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
IFRS 102) (effective l January 20191,, Financial Reporting Standard 102 'The Financial Reporting Standard
applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have also
been prepared under the historical cost conventlon, with the exception of investments which are included at
market value, as modified by the revaluation of certain assets.
These financial statements consolidate the results of the charity and its wholly-owned subsidiary Batsford
Garden Centre Limited on a line by line basis. Transactions and balances between the charity and its
subsidiary have been eliminated from the consolidated financial statements. Balances between the two
entities are disclosed in the notes of the charity's balance sheet. A separate statement of financial activities,
or income and expenditure account, for the charity itself is not presented because the charity has taken
advantage of the exemptions afforded by section 408 of the Companies Act 2006.
Public benefit entity
The charitable company meets the definition of a public benefit entity under FRS 102.
Critical accounting judgements and key Sources of estimation uncertainty
The trustees are required to make judgements, estimates and assumptions about the carrying value of assets
and liabilities based on their experience and professional advice received. Inevitably, the actual outcome may
differ from predictions. There is only one key estimate which includes a risk of material misstatement and it
relates to the economic life, and hence depreciation rate. assumed for the visitor centre. Professional advice
suggested that a figure of 50 years might be appropriate and the trustees have adopted this figure as they
consider it a reasonable estimate. Estimates and underlying assumptions are reviewed on an ongoing basis to
ensure that they remain relevant.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds,
it is probable that the income will be received and the amount can be measured reliably. Income from
visitors and members is measured at fair value of the consideration is received or receivable. The point of
recognition of the income is when admission is granted to the arboretum or shop goods are accepted by a
customer and the purchase transaction completes. Income that is attributable to future visits that members
will make to the arboretum is deferred and released to the Consolidated Statement of Financial Activities
over the period to which the membership relates. Gift Aid income resulting from membership is matched to
the period to which it relates, as is all other income.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the
charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement
and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accrual basis
and has been classlfied under headings that aggregate all cost related to the category, Where costs cannot be
directly attributed to particular headings they have been allocated to activities on a basis consistent with the
use of resources,
Allocation and apportionment of costs
All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis
designed to reflect the use of the resource.
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Registered number.. 04366549
The Batsford Foundatlon
Notes to the Flnancial Statements- continued
for the Year Ended 31st January 2024
ACCOUNTING POLICIES- contlnued
Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided on these assets at annual
rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life
as follows:
Improvements to property
Plant and machinery
Office equipment
Motor vehicles
2% to 5% on cost
15% on reducing balance
25% on reducing balance
25% on reducing balance
Freehold buildings (excluding the visitor centrel are not depreciated on the grounds of immateriality as any
disposal proceeds are expected to be at least equal to the residual value in the accounts. The visitor centre is
depreciated on a straight-line basis over its expected useful economic life of 50 years. Freehold land is not
depreciated.
A review for impairment of a fixed asset would be carried out if events or changes in circumstances indicate
that the carry amount of the fixed asset may not be recoverable.
Fixed asset investments
Fixed asset investments are held to generate income or for their investment potential, or both. Listed
investments are stated at market value.
Investments in subsidiaries
Investments in subsidiaries are at cost.
Stocks
Stocks are valued at the lower of c05t and estimated selling price less costs to complete and sell. after making
due allowance for obsolete and slow moving items. Cost price is calculated by deducting sales margin from
selling price.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted f unds are funds which have been raised by the charity for particular purposes and are to be used
In accordance with Specific restrictions imposed by donors. The aim and use of each restricted fund is set out
in the notes to the financial statements.
Government grants and assistance
Government grants are recognised when the charity has complied with any conditions attached to them and
there is reasonable assurance that the amounts will be received.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financlal Activities on a 5traight-line
basi5 over the period of the lease.
Page 15

Registered number.. 04366549
The Batsfofd Foundation
NotÈs to the Financial Statements- continued
for the Year Ended 31st January 2024
ACCOUNTING POLICIES- continued
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the pension scheme
are charged to the Statement of Financial Activities in the period to which they relate.
Heritage assets
The charity holds a heritage asset comprising an arboretum and plant collectlon of international importance.
The value of the original 60 acre site is not reflected in the balance sheet.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a
going concern.
DONATIONS AND LEGACIES
2024
2023
Donations
Appeals
Bench sponsorship
2.640
4.940
2,000
3,743
9,580
3,743
INCOME FROM CHARITABLE ACTIVITIES
2024
2023
Arboretum entrance fees
804.316
737,948
INCOME FROM OTHER TRADING AcfiviTIES
2024
2023
Arboretum shop sales
Garden centre plant sales
Garden centre shop sales
Events
200,559
389,324
550,533
9,505
172,869
344,016
471.287
7,009
1.149,921
995,181
INVESTMENT INCOME
2024
2023
Rents receivable
Dividends and slmilar distributions
Interest receivable
132,091
5,483
2,786
91,372
11,510
127
140,360
103,009
Page 16

Registered number: 04366549
The Batsford Foundation
Notes to the Financial Statements- continued
for the Year Ended 31st January 2024
FUNDRAISING
2024
2023
Bench purchases
1,005
EXPENDITURE ON OTHER TRADING AcfiviTIES
2024
2023
Opening stock
Purchases
Closing stock
Salaries and wages
Point of sale costs
Hire of plant and machinery
Travel and accommodation
Telephone
Stationery and postage
Sundries
Repairs and consumables
Depreciation of tangible fixed assets
Support costs (see note 101
274.272
644.843
1293,616}
301,818
11,077
203,512
618,572
1274,2721
290,461
11,496
6.399
744
1,569
195
ioi
888
9,584
127,658
988
1,801
354
831
16.989
129,972
1.089.329
996.907
INVESTMENT MANAGEMENT COSTS
2024
2023
Depreciation
Repairs and consumables
Support costs (see note 101
5,781
4,131
94,754
79.171
100,535
83,302
CHARITABLE ACTIVITIES COSTS
2024
2023
Salaries and wage5
Trees and plants
Repairs and consumables
Hire of equipment
Telephone
Stationery and postage
Point of sale costs
Advertising
Sundries
Depreciation of tangible fixed assets
IProfitl/loss on Sale of tangible fixed assets
Support costs {see note 10)
248,246
8,295
43,951
4,220
1,131
1.182
19,886
32,561
586
25,952
11,0611
282,253
220.716
5.678
34,635
3,356
784
1,104
29,393
23,915
254
17,141
19971
239,448
667,202
575,427
Page 17

Registered number.. 04366549
The Batsford Foundation
Notes to the Financial Statements- continued
for the Year Ended 31stJanuary 2024
10. SUPPORT COSTS
Other
trading
activities
Investment
management
costs
2024
Total
activities
2023
Total
activities
Arboretum
Salaries and wages
Pensions
Rates and water
Insurance
Light and heat
Telephone and internet
Postage and stationery
Sundries
Health insurance
Training and college fees
Motor and travel
Repairs and maintenance
Staff uniforms
Cleaning
Advertising and public
relations
Legal and professional fees
Bookkeeping
Bank charges
Subscriptions
Refreshments
Security
Computer expense5
Company secretary's fees
Audit fees
Accountancy
Trustees, travel costs
Penalty interest and charges
Depreciation of tangible
fixed assets
IProfitl/loss on sale of tangible
fixed assets
36,818
6,927
3,690
1.983
11,630
3,346
1,390
782
5,725
1,526
8,196
693
1,069
10.912
5,878
418
3,163
6,942
9,967
39,337
7.949
3.690
10,908
11,631
6,291
3,242
3,663
6,212
1,526
9,278
22,681
713
32,111
82,033
15,294
10,543
19,833
33,228
9,637
4,632
4,445
12,181
3,052
17.474
38,685
1,782
43,023
71,465
14,751
7.819
16,049
32,547
6,363
2,574
2,001
7,895
5.090
20,443
30.520
2,852
34,489
244
15,311
8,022
261
11,002
256
2,528
1.032
2.709
3,792
4,200
7.454
9.000
102
8,022
8.875
24.449
294
4.541
2.064
5.417
10,835
12,000
13,247
14.737
102
13.961
3.792
18,867
341
3,222
1,787
5,423
6.184
12.000
12,590
18,155
1,200
3,600
261
11,002
8,353
2,445
38
16
1,997
1.032
2.708
542
3,600
561
677
6,501
4,200
5,232
5.060
33.891
70.868
104,759
90,297
1,795
1,795
129,972
94.754
282,253
506,979
446,277
Governance includes company secretary's fees of £12,000 12023: £12,000), audit fees of £13,247 {2023:
E12,5901, accountancy fees of £14,73712023.. £18,155), trustee5' travel costs of £10212023: £1,200}, a total
of £40,086 {2023: £43,945}.
Page 18

Registered number.. 04366549
The Batsford Foundation
Notes to the Financial Statements- continued
for the Year Ended 31st January 2024
ii.
INCOME/{EXPENDITUREI
Net income/lexpenditurel is stated after charging/lcreditingl:
2024
2023
Depreciation - owned assets
Hire of plant and machinery
IProfitl/loss on disposal of fixed assets
153,481
4,220
11,0611
121,153
9,755
{9971
12.
TRADING SUBSIDIARY
The charity owns the entire share capital of Batsford Garden Centre Limited, a company registered in England
and Wales. The company number is 13839161. The charity and the subsidiary share the same registered
office address.
The subsidiary is used for non-primary purpose trading activities. All activities have been consolidated on a
line by line basis in the statement of financial activities. Available profits are distributed under Gift Aid to the
parent charity.
A summary of the results of the subsidiary are shown below-
2024
2023
Turnover
Cost of sales
1,149,921
1942,368}
995,181
1853,2661
Gross profit/lloss)
Other expenditure
Charged by the parent undertaking=
Support costs
Rent
Loan interest
207,553
{16,9891
141,915
115,9831
(129.9721
128.7001
17.8801
1127,658}
{24,9001
16,2561
Profit/llossl on ordinary activities
Taxation on profit on ordinary activities
24,012
132,8821
Profit/llossl for the financial year
24,012
{32,8821
The assets and liabilities of the company were..
Fixed assets
Current assets
Current and long term liabilities
107,969
362,556
(374,395)
98,591
276,186
1302,6591
Total net a55ets
96,130
72,118
Share capital £1 ordinary shares
Retained profits
105,000
18,8701
105.000
132,8821
96,130
72,118
The figures above are stated before consolidation adjustments.
Page 19

Registered number.. 04366549
The Batsford Foundation
Notes to the Financial Statements- continued
for the Year Ended 31st January 2024
13. TRUSTEES, REMUNERATION AND BENEFITS
There was no trustees, remuneration or significant other benefits during the year. One trustee was
reimbursed for travel costs to the value of £10212023: £1,200) during the year.
14. STAFF COSTS
2024
2023
Wages and salaries
Other pension costs
632,097
15,294
582,642
14,751
647,391
597,393
The key management personnel of the charity comprise the trustees and senior management. There was no
trustees, remuneration or benefits during the year. Senior management received £70,659 (2023.. £72,096).
The average monthly number of employees during the year was as fo51ows:
2024
15
io
2023
18
Garden centre and arboretum shop
Arboretum
Office
27
29
Only one employee had a salary in excess of £60.000, namely the director of operations. Total emoluments.
which included gross salary, accommodation paid by Salary sacrifice and private medical insurance, fell within
the band £70.000 to £79.999.
Page 20

Registered number: 04366549
The Batsford Foundation
Notes to the Financial Statements- conttnued
for the Year Ended 31st January 2024
15. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
Restricted
funds
Total
funds
INCOME AND ENDOWMENTS FROM
Donations and legacies
3,743
3,743
Charitable activities
Arboretum
737,948
737,948
Other trading activities
Investment income
995.181
103.009
995,181
103.009
1,836,138
3.743
1.839.881
EXPENDITURE ON
Raising funds
Other trading activities
Investment mar)agement costs
996,907
78,379
996,907
83.302
4,923
1,075.286
4,923
1.080,209
Charitable activities
Arboretum
574,363
1,064
575,427
Other
6,000
6,000
Total
1,655,649
5,987
1.661,636
Net gains/llossesl on investments
{4,2971
14,2971
NET INCOME/(EXPENDITURE)
176,192
12.2441
173.948
RECONCILIATION OF FUNDS
Total funds brought forward
5,083,435
68,955
5,152,390
5,259.627
66.711
5,326,338
Page 21

Registered number.. 04366549
The Batsford Foundation
Notes to the Financial Statements- continued
for the Year Ended 31st January 2024
16.
TANGIBLE FIXED ASSETS
Group
Freehold
property and
improvements
"Leaves for
Learning"
classroom
Leasehold
improvements
Plant and
machinery
COST
At 1st February 2023
Additions
Recharged to tenant
Disposals
5,077,544
58,376
160,000}
18,957
20,440
70,295
362,673
175,983
114,509)
At 31stJanuary 2024
5,075,920
39,397
70,295
524.147
DEPRECIATION
At 1st February 2023
Charge for year
Eliminated on disposal
747,300
101.715
1,177
1,801
25,314
3,520
158,288
33,091
112,3271
At 31stJanuary 2024
849,015
2,978
28,834
179,052
NET BOOK VALUE
At 31st January 2024
4,226,905
36,419
41,461
345.095
At 31st January 2023
4.330,244
17.780
44,981
204,385
Office
equipment
Motor
vehicles
Totals
COST
At 1st February 2023
Additions
Recharged to tenant
Disposals
60,287
17,740
71,128
5,660,884
272,539
160,0001
115,2731
{7641
At 31st January 2024
77,263
71,128
5,858,150
DEPRECIATION
At 1st February 2023
Charge for year
Eliminated on disposal
46.739
5,436
{7121
39.461
7,917
1,018,279
153.480
113,0391
At 31stJanuary 2024
51,463
47,378
1,158,720
NET BOOK VALUE
At 31stJanuary 2024
25.800
23,750
4,699.430
At 31st January 2023
13,548
31,667
4,642,605
Page 22

Registered number: 04366549
The Batsford Foundation
Notes to the Financial Statements- continued
for the Year Ended 31stJanuary 2024
16.
TANGIBLE FIXED ASSETS- continued
Charitv
Freehold
property and
improvements
"Leaves for
Learning"
classroom
Plant and
machinery
COST
At 1st February 2023
Additions
Recharged to tenant
Disposals
5,077,544
58,376
{60,0001
70,295
303,870
170,149
114,5091
At 31st January 2024
5,075,920
70,295
459,510
DEPRECIATION
At 1st February 2023
Charge for year
Eliminated on disposal
747.300
101.715
25,314
3,520
153,660
24.577
112.3271
At 31st January 2024
849,015
28,834
165,910
NET BOOK VALUE
At 31stJanuary 2024
4,226,905
41,461
293,600
At 31stJanuary 2023
4.330.244
44.981
150,210
Office
equipment
Motor
vehicles
Totals
COST
At 1st February 2023
Additions
Recharged to tenant
Disposals
60,287
17,648
40,713
5,552,709
246,173
{60,0001
{15,2731
(7641
At 31st January 2024
77,171
40,713
5,723.609
DEPRECIATION
At 1st February 2023
Charge for year
Eliminated on disposal
46,739
5,422
17121
35,682
1,258
1,008.695
136,492
113.0391
At 31st January 2024
51,449
36,940
1,132,148
NET BOOK VALUE
At 31stJanuary 2024
25,722
3,773
4,591,461
At 31stJanuary 2023
13,548
5,031
4,544.014
Page 23

Registered number.. 04366549
The Batsford Foundation
Notes to the Financial Statements- continued
for the Year Ended 31st January 2024
17.
FIXED ASSET INVESTMENTS
2024
Group
2023
Group
2024
Charity
2023
Charity
Listed investments
Investment in subsidiary company
391,368
410,437
391,368
105,000
410,437
105,000
391,368
410,437
496,368
515,437
Listed investments
Group and
charity
Market value
At 1st February 2023
Additions
Revaluations
410.433
21,490
140,5581
Market value
Cash
391.365
At 31stJanuary 2024
391,368
The listed investment is comprised entirely of shares in the CF Ruffer Charity Asset5 Accumulation Trust Fund.
The objective of this fund is low volatility and positive returns in all market conditions from an actively
managed portfolio of equities or equity related securities (including convertibles) and corporate and
government bonds and currencies. The constituent investments are located both within and outside the UK.
Cost or valuation is represented by:
Group and
charity
Valuation
Cost
{42.2171
433,585
At 31st January 2024
391.368
Investment in subsidiary company
Investments held by the charity include an investment of £105,000 in the subsidiary company at cost.
Page 24

Registered number.. 04366549
The Batsford Foundation
Notes to the Financial Statements- continued
for the Year Ended 31st January 2024
18. STOCKS
2024
2023
Stocks
293,616
274,272
No stocks were held by the charity.
19. DEBTORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR
2024
Group
2023
Group
2024
Charity
2023
Charity
Trade debtors
Amounts due from subsidiary undertakings
Income tax recoverable
Social security and other taxes
Other debtors
Prepayment5 and accrued income
28,888
73,396
22,508
215,284
6.914
71,482
226,247
7.135
2,536
13.297
22,384
6,914
7,135
2,536
13,297
22,384
3,990
36,929
3,990
36,929
76,721
118.748
285,625
343,081
The amounts due from subsidiary undertakings represents a loan from the charity at commencement of
trading together with financial support since. The figure includes £196,142 falling due after more than one
year.
20.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
Group
2023
Group
2024
Charity
2023
Charity
Trade creditors
Value Added Tax
Social security and other taxes
Other creditors
Accruals and deferred income
56,424
160,545
5.619
57.244
79,756
4,856
2.453
131,222
30,691
51.591
3.320
43,824
43,449
2,453
109,393
135,679
113,554
358,267
275.531
199,156
199,119
Page 25

Registered number.. 04366549
The Batsford Foundation
Notes to the Financial Statements- continued
for the Year Ended 31stJanuary 2024
21.
MOVEMENT IN FUNDS
Net
movement
in funds
At 1/2/23
At 31/1124
Unrestrirted funds
General fund
5,259,627
199,230
5,458,857
Restricted funds
Leaves for Learning project
Play Area project
The Art of Conservation lino print
Bricks in the Wall project
Head gardener seed collection travel costs
Forest School project
Floating islands project
43,358
1,000
864
16,008
5.000
481
(3,5201
{I,0001
{1301
3,743
39,838
734
19.751
5,000
332
2.244
11491
2.244
66,711
1,188
67,899
TOTAL FUNDS
5.326.338
200.418
5,526,756
Net movement in funds, included in the above, are a5 follows:
Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
Unrestricted funds
General fund
2,096,597
11,856,809)
140,558)
199,230
Restrirted funds
Leaves for Learning project
Play Area project
The Art of Conservation lino print
Bricks in the Wall project
Forest School project
Floating islands project
13,5201
11,0001
11301
11,1971
11491
13961
13.5201
{I,0001
{1301
3,743
11491
2.244
4,940
2.640
7,580
(6,392
1.188
TOTAL FUNDS
2,104,177
11.863,2011
140.5581
200,418
Page 26

Registered number: 04366549
The Batsford Foundation
Notes to the Financial 5tatements- continued
forthe Year Ended 31st January 2024
21.
MOVEMENT IN FUNDS- continued
Comparatives for movements in funds
Net
movement
in funds
At 1/2/22
At 3111/23
Unrestrirted funds
General fund
5,083,435
176,192
5,259,627
Restrirted funds
Leaves for Learning project
Play Area project
The Art of Conservation lino print
Bricks in the Wall project
Head gardener seed collection travel costs
Forest School project
46,781
2.500
1.016
13,028
5,000
630
13,4231
11,5001
11521
2,980
43,358
1,000
864
16,008
5,000
481
(1491
68,955
{2.2441
66,711
TOTAL FUNDS
5,152,390
173.948
5.326,338
Net movement in funds, included in the above, are as follows..
Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
Unrestricted funds
General fund
1,836,138
(1,655.649)
14,2971
176.192
Restrirted funds
Leaves for Learning project
Play Area projett
The Art of Conservation lino print
Bricks in the Wall project
Forest School project
{3.4231
{1,5001
(1521
1763)
1149}
(3,4231
(1,5001
{152)
2,980
11491
3,743
3.743
15,9871
(2.2441
TOTAL FUNDS
1,839,881
{1,661.636}
14,2971
173,948
Page 27

Registered number.. 04366549
The Batsford Foundation
Notes to the Financial Statements- continued
for the Year Ended 31st January 2024
22. RELATED PARTY DISCLOSURES
During the year, J P Moody, company secretary, provided secretarial and advisory services to the charity
amounting to £12,00012023: £12,000).
During the year, S Priest (director of operation51 occupied a property on the premises necessarily for the
proper performance of his duties and paid rent during the year of £5,000 {2023.' £5,000) by salary sacrifice.
The open market rental value might be about £13,000 per year.
23.
ULTIMATE CONTROLLING PARTY
The charity is jointly controlled by the trustees.
24. LEGAL STATUS OF THE CHARir
The charity is a company limited by guarantee and has no share capital. The liability of each member in the
event of winding-up is limited to £1.
25.
LEAVES FOR LEARNING PROJEcr
The charity launched an appeal in 2013 to raise funds to construct a classroom on the premises.
A classroom was required to enhance the educational opportunities the charity offers youngsters to learn
about the conservation work the charity does at Batsford as well as National Curriculum subjects such as how
trees and plants grow, ecosystems and the importance of wildlife and the environment.
The target of £40.000 has been achieved, the construction is now complete and we are pleased to announce
that the classroom is available for hire. The names of donors have been attached to a large tree mural which
has become a permanent feature in the new facility.
The classroom will also allow the charity to increase the range of events for adults, including horticultural
evenings and countryside courses.
We would like to thank each and every donor for their generous support.
26.
BRICKS IN THE WALL PROJEcr
The charity launched an appeal in 2018 to raise funds to restore and conserve our Victorian grade 11 listed
kitchen garden wall.
The project will provide opportunities for members of the public to attend demonstrations and workshops
directly related to the restoration with topics including stonemasonry, brick laying, dry stone walling and lime
mortar preparation.
The project will also create training and apprenticeship opportunities in heritage wall repairs to ensure that
these skills are passed on to the next generation and bring to life the garden tools of the past by displaying
them in a "Potting Shed" museum.
The fundraising target is £80,000.
Page 28

Registered number: 04366549
The Batsford Foundation
Notes to the Financial Statements. continued
for the Year Ended 31stJanuary 2024
27. FOREST SCHOOL PROJEcr
We provide opportunities for pre-schoolers up to the age of 4 to engage with nature and explore our newly
established Forest School site led by our Forest School leader.
Activities include a mud kitchen, hunts for bugs, exploring, play and stories.
The sessions last for an hour and a half and we provide a snack and a drink as part of the admission fee.
Adults and children in arms are free.
We are appealing for donations to fund running costs.
28. HERITAGE ASSETS
The Foundation holds heritage assets in the form of an arboretum and plant collection of international
importance that has developed over more than a century and covers an area of approximately 60 acres.
This collection includes acers, bamboo, magnolias, pines, Japanese cherries, oaks and sorbus and is held in
fuitherance of the charity's objects.
In the opinion of the trustees there are substantial difficulties over attributing a value to the arboretum and
plant collection and they are excluded from the balance sheet for this reason.
Page 29