Reg5stered number: 04584694 Charity number: 1095435 The Alnwick Garden Trust IA company limited by guarantee) Annual report 31 March 2025 The Alnwick Garden Trust (A company limited by guarantee) Contents Page Reference and administrative details Chairman's slatemenl Trustees, report 3-13 Trustees, responsibilities statement 14 Independent auditor's report 15-18 Consolidated statement of financial activities 19 Consolidated balance sheet 20 Company balance sheet 21 Consolidated statement of cash flows Notes to the financial statements 23-48 The Alnwick Garden Trust (A company Ilmlted by guarantee) Reference and admlnlstratlve detalls Year ended 31 March 2025 Trustees The Duchess of Northumberland Jonathan Blackie CBE, Chair John Lovett Sir James Leigh-Pemberton Sir James Mackey (resigned 27 June 2025) Catherine Kalson Christopher Robson (appointed 20 June 2024) Company reglstered numbor 04584694 Charlty registered numb•r 1095435 Reglslered offlco The Alnwick Garden Gardeners Cottage Greenwell Road Alnwick Northumberland NE66 1HB Chlef •x8cutlv• offlcer Mark 8rass811 Independent audltor UNW LLP Citygate St James. Boulevard Newcastle upon Tyne NE14JE Bankers Baiclays Bank Morpeth Northumberland NE613YY Sollcltors Muckle LLP Time Central 32 Gallowgale Newcastle upon Tyne NE14BF The Alnwlck Garden Trust IA company Ilmlt•d by guaranteo) Chalrman's statemant Year onded 31 March 2025 Tha chaI￿an presènts h1& statemènt for thé ￿Ar. Tho 2024125 Ilnandal year marf(ed Ihe first lull year of operalk)n for Ulidorel and a period In which Ihe Trusl è81ablish*J a strorKJ relatlonshlp acros5 bolh Lilldorel, the new play village, and The Gwdon. Togethor. the two Sltes are op8ratlng In harn￿ny, offartng vlsltors dlsllnct complementary axpedgnces. ft was a yoar of wntrasts. An excepth)nally wet and wlndy sprlng arKI Èumfflar ¢reatsd a ¢hallenglng first h01f ol ihe ￿ar. However. the latter months brought a remarkable lumaround, an outs18TrJlng Chrlsfrna8 Beason. 8 strong Fèbwary. and our best M8r¢h on record. Rising Costs fdbwlng the Govemmenl's Autumn Budoal required lhe TnJ$t to tak8 difficult bul necgssary decisions. Including q restructuro lo deh'ver grnalgr aificiency. Desplie Ihfrse pressures. aThJ even loglng o day to StOTm DaTh8gh In Dec8mber. ovr Chi181mas programma achieved significanl grov•1h. Tho refreshed Winter Light Trall drew large audiences of 59.359, while lamilies with younger thlldren enjoyed Lilidorel's Father Chrlslma8 exp8rfence. axtandlng Ihalr vlslts and enhancinp ihelr ovarall Ilm• wlth us, Wo w8lcom8d over 822.000 peoplo across Ihe year, Indudlng thoge wb) our Winlef Llght Trall, wllh 374,722 blslk)rs lo The G3￿10n and 248,148 vlsliors to Lllldorol. Tho Comblned Tkkot. bet4voen the h¥0 sltas. has been one of the year's most Succ￿$s1U1 initialNe8, encouraging visllors to enloy both Lilidorei and The Gardon k) a slnglo viJll. Thls has ￿08dened appeal, Introduclng now audieneth. p8rtlcularly youngér fam11188, lo Th• Garden, whle driving record levels of loorfall across bolh slte$, Theso result$ are hlghly enrouroging, oven as we continu8 lo n9v￿at0 flslng ¢o$ls. Now efflcloncy m￿Sur0$ aro already making a poslllvo Impact, wllh aOUr￿ rn8er4es as wo movo inlo thè aéeond half 012025. Be￿nd vlsltor grovAh, our communlty work has reach•J now he*h15. Our relreshad Educalon Offef and 23 tallored proorammes are dellv8rlna m8anlngful beneflts lo peoF4e ol all ag85 and backgrounds. Looklng ahead to our 251h anniversary h 2026, we are exclted to ¢al8brate a quarter of a e*nlury of th8 Trusl's impact. I èncourag8 yoil lo read our 2024125 Soclal Impact Report, avallable on our web$lte. It $hOw￿$e8 the breadth and dèpth of tr* Trusl's con1nl￿110n, and we ar8 proud lo shgre t￿8• ?chle¥em8nls with you. Nono of thIF would have been posslblg wIlh￿l lh6 de1Sts￿on of my fellow InJsle88, the unwavertng Support of thè Outhess ol Norihurnberland, and th8 lirn105s efforts ol all our staff and volunleevs. I would also like lo extend my Ihènks lo the Duke of Northumberland and Ihe Northumbgdand Eslales lor Ihgir wnlinued 5UPPOrt. Jonalh•n Bl•ckl• CBE Chalr of The AIn1￿ck Garden Tru81 8•pl•mb•r 202S The Alnwick Garden Trust (A company limited by guarantee Trustees. report Year èndad 31 March 2025 The trustees present their annual report together with the audited financial statèments of tha Company for the 1 April 2024 to 31 March 2025. The annual report serves the purposes of bolh a trustees. report and a directors, report under company law. The trustees confirm that the annual report and financial statements of the charitable company comply w¢th the current statutory requir8ments, th8 requirements of the charitable CoMpan￿S governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). Oblectlv03 and actlvltles Pollcle8 and objectlves The mission of The Alnwick Garden is to inspire and connect people in an inclusive space of beauty and learnin9 that ultimalely enriches people's lives. Our valu05 Trust Resp8Ct Positivity Quirky Diverse and Inclusive Caring Our objectlves Th& breadth of our community work is highlighted through our broad spectrum of Charitable Objects. These are.. (Al The acquisition and preseNation and improvement for the benefit of the public of places of historical or archaeological interest or of natural or cultivated beauty in the county of Northumberland and the provision of ready access lo them by the public. (B) The advancemenl of the education of the public through such means as the Irustees think fit In accordance with the law of charity. (C) The provision of facilities 01 services in the interests of social welfare for individuals who hava need of such facilities or services by reason of their youth, age. infifmily or disability, financial hardship or Social cir¢umstan¢es wrth the object of improving their conditions of life. (D) The advancement of health by promoting public participation in healthy outdoor recrealion and leisure aclivities; and (E) Ancillary to the above, the furtherance of such other charitable purposes for the benefit of the public as Ihe trustees from time to time determine in the County of Northumberland and surrounding areas. The goals we sel In order to achleve our Charitable Objects are: Goal 1- To be a key driver of social and economic support for Alnwick and the wider area., Goal 2 - Commercially sustained success through growth in visilor numbers, memberships and an excellent food and beverage offer that includes a wide variety of events; Goal 3 - To be a leader in the fight against Climate Change, educaling others and tackling the challenge of reducing carbon in the atmosphere while protecting biodiversity; Goal 4- Happy and high functioning team lo ensure the continued success of the Trust. The Alnwick Garden Trust (A company limited by guarantee Trustées. réport (continued) Year anded 31 March 2025 Objectlves and actlvltles Icontlnued) In setting goals and planning for activities. the trustees have given due consideration lo general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity {P82}'. • Actlvltles undertaken lo achleve objectlves The Alnwick Garden Trust consistenlly adapts its community programmes to address the evolving needs of the people it serves. Our Community and Education team remain deeply engaged wrth local groups and stakeholdars. ensuring that our efforts are both relevant and impacfful. With the above in mind The Trust assessed its activities and ensures they encompass one of the following theme8'. Wellbeing Education Empowerrnent Strateglc report Achlev•m•nts and performance • Maln achl•v•m•nt8 of th• company R•vlew of the flvo charltable objtctlve¥ agalnst aGtlvllle8 dellvered In 2024125 Wellbelng T8rge¢ed outcomes.. Reduce tha impacts of isolation and loneliness for people over the age of 55. Provide inclusive learning experiences for young people wllh additional neads theraby improving confidence, communication and social skills. Reduce food waste whilst providing a positive social space for local visitors and the community. Develop children's cognitive, physical and social skills and improving amotional wellbeing in a fun and inspiring environment. ActiVit￿S and programmes,. Elderborrles A wida range of programmes is delivered under the 'Elderberries' umbrella, engaging with people aged over 55 to combat isolation, provide stimulating and meaningful activities, as well as increasing physical exercise and promoting mental wellbeing. All activilies and group sessions follow at least one of the NHS 5 Steps to Wellbeing. Young Gardeners Young Gardenefs is a horticutture iniliatiV8 designed to support young people wilh additional needs, and their families, The programme provides opportunities to learn new skills while also fostering friendships and meaningful connections with others. Community Frldgo - The purpose of the fridge is to reduce food wastage whilst providing a positive social space for local visitors and th8 community. Lllldorel's Free Frfdays Inltlatlve Free Fridays is an initialive offering Northumberland primary school children the chance to visit Lilidorei free of charge during term lime with their schools. By removing cost barriers, the programme ensures that children who may not otheThvise have the opportunity to visil, can take part. The concept of LilKlorei is rooted in the promotion of imagination and play, helping children to develop their cognitive, physical and social skills, and improving their emotional wellbeing in a fun and inspiring environment. The Alnwick Garden Trust (A company Ilmlted by guarantee) Trustees. report (contlnued) Year ended 31 March 2025 Strategic report Achlevements and performancè {conllnued> Growing Together Northumberland - Growing Tog8th8r Northumberfand is an exciting 5-year project aimed at reaching local communities, supporting people aged 16 and over who are NEET (Not in Education. Employment, or Training). economically inactive, or unemployed. The project aims to improve wellbeing. cultivate skills, and raise aspirations, enabling participants to take their next steps into training, employment. or volunteering opportunities within their local community. Supportlng the Creative Sector In addltion to the above. the Trust also promotès arts and culture with a specific focus on the local creative Sector. This is predominantly done through The Garden and Lilidorei's event programmes. The following evenls were delivered through the 2024125 financial year.. Winter Light Trail- A unique, immersive light trail set to inspire Ihe imagination of the Christmas splrit, Using local, talented artists and technicians to create an exciting adventure around a wintery garden. Alnwick Story Fesl - a vibrant, volunteer-run celebration of storylelling held annually across Alnwick. Over 8 long weekend the leslival brings together bestsalling authors, illustrators, poets. musicians, and creatives for workshops, children's events, talks, live music, and a Iiv8ly fringe program. Buskers, Alnwick Allslars Music Group, KEVI St8918and - Showcasing talent and enabling people to enjoy music in idOlic Surroundings. Ev8ready Brass Band, Chilli Road B8nd. Mililary Youth 88nd, Smalllown Brass - performed at music evenings and special events through the year. What A Wonderful Wortd Festival - Sel up by a taam of local paople, this climate action themed festival was held al The Garden for ils inspiring natural beauty. Perfomiers visited from all over the county, playing variety of local songs and melodies, with local schools taking an active role in creating and performing music. Duck R8ce - This fun and exciting yearly evenl attracts exceptional visitor numbers and is run by the local Alnwick Round Table. Gay Day - Every year, The Garden brings the community together for Gay Day. celebrating inclusivily, acceptance. and the LGB Ta+ community. Economlc Impact of The Trust Over the past 24 years, the Tnjsl has delivered a lasting financial and s(Kial contribulion lo the region. Having welcomed more than 8.3 million visitors to date, alongside countless non-ticketed guests to the retail shop and tha Treehouse, the Trust continues to be a major driver of local tourism and community engagement. Supporting the regional economy remains central to our mission. In 2024125 alone, over £1.2 million was spent directly with North East suppliers and producers. By prioritising local partnerships, we not only strengthen business networks but also help lower carbon emissions through reduced transportation. Our commilment to nurturing local talent extended to a dedicated programme supporting food vendors throughout the year. This initiative both enriched the culinary offer for visitors and provided a valuable platfomi for independent businesses to grow. The Alnwick Garden Trust (A company Ilmlted by guarantee) Trustees, report (contlnued) Year ended 31 March 2025 Strateglc report (contlnued) Achl•vem•nts and performan¢a (¢ontinued) The tourism sector across the North East faces the persistent challenge of seasonality. Th8 Trusl has worked slrategically to overcome this by investing in year-round events and promotions, ensuring a steady flow of visitors even in the traditionalty quieter months. As a result. we have been able to create more secure, high- quality jobs, while also delivering a broader boost lo the local economy. This has been done through both our direcl spending and the increasad foottall thal benefits nei9hbouring businesses. The Trust has contributed an estimated £378 million to the local economy. with £183 million spent directly with local $(tppliers. This o¢onomic 8Ctivily has supported 2,238 direct jobs and 1,300 indirect jobs. The Trust now employs 216 full time equivalent employees. Fundralglng actlvltleg Fundraising efforts this year were targeted towards the provision of our community and education programmes. Applications were made to a range of ¢h8ritable trusts. public bodies and individuals, and the key donors were as follows.. Communlty Foundatlon Tyné and Wear The National Lottery Community Fund The Stuart Halbert Foundation CEO Sl8epout Bernicia Franklin Food and Drinks Bidfood Jane Robertson Alnwick Hazelhurst Trust Carr-Ellison Trust • Flnanclal key parformanc• Indlcatorn Full details of the charitabla companys financial position can be found in the accompanying financial statements attached to this report. Th8 consolidated statement of financial activities shows total incoming resources of £9,454,631 (2024.. £10,085,659), tolal resources expended of £11,568,867 {2024.' £11,242,396) and net outgoing resources for the year of £2.114,236 (2024.. Olrtgoing resources of £1,156,737>. When assessing the consolidaled balance sheet, it is important to note thal in the year to 31 March 2025. the creditors amount includes a long-term interest f￿e loan which the charity has received from Northumberland Estates. FRS 102 requires that such loans are recognis8d at net present value as calculated by reference to an applicable discount rate. The charity has calculated the net present value of the £8m loan to be £2.220,041 al 31 March 2025 (£2.094.378 at 31 March 2024), based on a discount rate of 60A, Ihe agreed repayment structure and the settlement date in 2047. The Alnwick Garden Trust IA company Ilm5ted by guarantee) Trustees. report (continued) Year ended 31 March 2025 Strategic report (continued) Achlevements and perfomiance Icontlnued) • Non.flnanclal koy performance Indlcators The followin9 arè som8 of the non-financial key perfornance indicators: 374.772 Garden visitors (including Light Trail visitors) (2023124= 334,560) 248,148 Lilidoffji visitors {2023124'. 159,317) 59,359 Winter Light Trail visitors (2023124.. 41,804) 21.360 Adventure Golf visitors (2023124.. 30,061) Our social impacts also showed strong gr0￿h this year wrth some of the kéy indicators being.. 449 individuals reached through EldeTb8rries programme. 3,453 attendances at the Elderberries Drop-in cenlre, 8,646 hours of Elderberries events and activitiés. 516 hours of work experience delivered though the Grow Into Work programme. 514 young people engaged in our careers outreach support programmes. 27 individuals participated in our new Growing Together Northumberland programmo. 7 new community gardens were crealed supporting a further 320 communily members. Over 200 attendees at our Careers Fair with 21 local businesses attending. 19 individuals supported through our Grow Into Work programme. 14 individuals participated in oui Seeds for SuGGess programme. 1,440 hours of delivery through our Employability programmes. Year 12 and 13 pupils from the Duch8ss Community High School participated in our new Leorning Through Nature sessions. 9 families supported through our Young Gardener8 programme. 129 pupils participated in the Rools and Shoots programm8 from 9 different schools. 921k of pupils participating in Rools and Shoots programme felt they were likely to eat healthy foods. 429 pupils participated in our Drugs Education programme. 1,000 attendees at our Winter Light Trail community initotive. 2,321 school children benefitted from the Lilidorei Frae Fridays initiative. 95,975 visitors to the Poison Garden receiving an education piece about drug$ misusa. More information on the Trusl's social impacl is contained in the 2024r25 Social Impact Report available on The Alnwick Gaiden web51te. Flnanclal r•vlow • Golng concern The Truslees confim that they have reviewed Ihe Trust's financial position and performance and have a reasonable expectation that the Trust has adequate resources to continue for the foreseeable future. The Trust's free cash reserves increased from £350,860 at the start of the year to £666,350 by year end. This increase was driven by a strong second half to the financial year and achieved despite the Trust meeting final rèsidual paym8nts of £193,000 relating to Ihe Lilidorei ConstrLtclion Project. Income for the year rose by 40 compared with 2023124, with EBITDA after charitable activities improving from a deficit of £28.397 to a Sufplus of £389,405. Th8 beginning of thé 202￿26 financial year has been exceplional, with both si18s recording th8 busiest Easter on record. The introduction of a combined entry ticket has proven particularly successful, becoming the most popular ticket type as visitors seek a full day out offering value for monèy. This uplift in visitor numbers has had a significant positive effect on free reserves as the Trust enters the autumn period. The Alnwick Garden Trust (A company limlted by guarantee) Trustéas. rèport (continued) Year 8nd8d 31 March 2025 The Trustees recognise thal the hospitality and leisure sectors continue lo face cost pras$ures. However, the Trust remains highly responsive to the changing competitive environment, adopting new innovations and identifying efficiencies. This approach supported the organisation through 2024125, particularly as operational fequirements of Lilidorei became bett8r understood and structural changes were implemented. The rebuilding of the Trust's free reserves 1$ firmly undeThvay, and the Trustees are confident in the organisation's resilience and future prospects. As the Trust looks ahead to celebrating The Garden's 25th anniversary in 2026. the Trustees are positive about the opportunities to build on recent 8uccess8s and ensu long-term sustainability. For this reason, they continue to adopt the going Concern basis in preparing the financial stat8ments. Further details regarding the adoplion of Ihe going concern basis can be found in the accounting policies. Reserves pollcy The Trust has reserves totslling £12,397,667 (2024.. £14,511.903). Of this, £532,835 (2024.. £517,826) is held in restricled funds and £11,373,603 (2024: £13,776,891) is held in capital funds. Unrestricted free reserves are therefore £491.22912024'. £217.186). In 2020121, the Trustees recognised the importance of being more resilient again$t major risks in the future. As result, they decidad to incrèase the free cash reserves target to six months of operating c¢st8, setting the goal at £1,4 million, A key objective for the Trust is to grow hts cash reseD48S to maat this18rgèt. At the end of the financial year. the Trust's operating cash stood at £874,926 (2024.. £655,174). After adjusting for Net Wofking Capital, the estimated free cash was £866.350 (2024.. £350,860). The financial year end typically eligns wrth the time when the Trust's Cash reserves are at their lowest, just before the main incorne generating season begins. The TTUSt1g focused on building cash reserves to the targeted level by the end of the 2025126 financial year. The Alnwick Garden Trust (A company Ilmlted by guaranteo) Trustees. report {contlnued) Year ended 31 March 2025 • Financlal perfomiance summary 5.139.549 4,999.997 Z6qO.468 2.837.413 £441Jg1 2 554414 946.247 8TJ.556 571A57 276 718 564697 77.017 1784.J95 1281.539 2.OH.675 356335 153.859 144262 153.931 213W6 139,038 IW.H8 14q9 89.481 182. 763.043 724782 IW7.148 1.789.XV 1.038.179 847JH 626.382 971712 806J99 W6,4M 486J76 4XIJ93 s21,4￿) 474J82 2331335 2295.592 1.793.472 I.413J￿7 431.803 15.613 W.792 4918.622 2.7alJO¢ IJ79.675 1.46I706 353.227 303.012 303.477 277.fXJ4 334.928 591250 575.764 324.893 23W7 IXI.673 337*6 939.433 681,438 450J98 457A32 39BJ93 39ZIIT th￿u￿￿1￿￿(QNdA 21279 25J61 7.422 9J41 102A61 9J.071 gDJ57 385.787 246.182 q48J52 Z3L476 249￿1 181799 133 11 Indud•dlnA•ondA 1.721 333 674 452.728 516.138 3WAZ9 378Q 173496Y If44526 IA388 lv￿.552 IJJ7.746 1.7641151 635271 ￿7￿13 JJ76AIII 199A>44 6x122 C•ph•l Invul￿.￿￿1￿dto Pwolltandlo C•ph•lIn¥e5¢ry￿.c￿PI1￿ll3•d Bornl Int•r¥st￿¥1F*•$ 2BI188 25OAK16 227.158 188y8 164.031 233.720 173.107 262.204 170.887 278.653 227.618 297.517 639.413 639.823 5J4 2B7.512 1142,354 241.174 164,6BB) 214,660 135.8BB 137,JS2 250.830 153.4441 (23.16GI P8.3501 DDnation%toward Impartktivity 12Ab4) ats396 p5￿5) "Capit•l In¥a5tThnt thjfpdtothe ParnlL I￿1￿1•$th• lryvutrmnt Intoth•Christm#sLltht showas *Yll bs lèryEr maintenarvwork ￿￿•11¥ •llot•t*dto R•p¥lrs •nd M*ShtehJnce•nthe managerr￿tacCounts. "lilidorei woject¢ornpletiOnSCaSts t0th?￿l￿￿of£5S,A64Ww+Cl1XthlIS*d iThth22024P5yeHrDrernf I￿1￿je￿In thEfinJnctsl p•fDrm•¥KR r•5uits#bDV• •r•cOnst￿lOn prol•rt rd4t•d. hef I￿ryne In202OAlfel•tedtoth￿C1•Sff )ther I￿￿Me1n2021/Zz1el￿te￿fQ mc0vld3tartvp￿ntsIY1J • IwJsln•sslntRrruptloTh I￿r•n(erI•lffl 10 The Alnwick Garden Trust (A company limited by guarantee) Trustees. report {contlnued) Year endad 31 March 2025 The table demonstrates the Trust's growth with the opening of Lilidorei. Despite unprecedented poor weather through spring and summer, revenue increased by 4.2% in the 2024125 financial year and operating revenue by 250/0, This bodes well for the future when more normal weather patterns can be expected. There are primarily three areas for ongoing investment to expand and enhance Ihe Charitys public benefit which are.. Firstly. delivering the Trusl's social impacts through its Community and Education activities. A signifKanl amount is also ieceived from external donations to supplement this, however, in rec8nt years there has baen l&$$ rèliance on external donations due to the healthy cash flows the Trust has been able to generate. Secondly, capital investment required as part of the infrastructure maintenance plan. Thirdly, investment in the development of new projects such a$ the envisaged Education Centre and completion of Phase 3 of The Garden. Foolnole.. The numbers al)ove orepresented fft non4tatulory fom lo demonstrnla tho undorfylng profrtablhty ollhe fru$1 s operatlons prfor lo Trust taklng on slgrtlficanl debt as $•t out &lsowhere in Ihe report. Cl•ssilkallons b•lween Incomo and expwidlture ol diffwenl *)peTalions in this lofm81 ond Ihe stalulory Madlrw and chatllablts lunclions descnbed elsewhe￿ in financial statements dlmer due to 8om• charflablo acll¥lll•$ belng Income genérnlw￿ in oKler lo support th• wld•r op•rallons ol Trnsl The lol•l Income #nd •xp•ndltur• 881 out 8b?¥e can be re¢on¢lledto th• prevknusly audrted finèn¢i81 statements of ¢he gmup. • Prlnclpal fundlng The Trust generates the majority of Its income through Its admlssions and othér activities, Grants and donations were received from the Friends, private individuals. Irusls and corporate donors. Fundraising in general is increasingly difficult on account of both economic conditions and source8 of funding having fewer resources as well as a higher number of applications, Tha charlty Is ragisterad with the Fundraising Regulator and the fundraising activities undertaken by the charity are carried oul in accordance with raference to Ihe Code of Fundraising Practice. All complaints received by the charity are recorded and investigated in line with Ihe charity's complaints procedures, During the year the charity received no complaints related to its fundraising activities (2024. none). NO complaints were received from the Fundraising Regulator. As a charity we do not use the seniices of unsolicilad fundralsing m&thod$, exiemal call centres or external sales canvassing companies to support our fundraising actlvities, Structure, govornance and management • Constitutlon The Alnwick Garden Trust is reglstered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 29 Octob8r 2002. The Trust is constituted under its Memorandum of Association and is a registered charity (number 1095435). Updated Articles of Association of the charitabl8 company w&re adopted by a special resolution on 20 November 2023. The Articles of Association have been appraved by the Charity Commission. Th8 principal objecls of Ihe Trust as stsled in the Appendix lo the Articles of Association are the acquisition, preservation and improvement for the benefit of the public of places of historical or archaeological interest or of natural or cultivated beauty in the County of Northumberfand and the provision of ready access to them by the public,. and the advancement of the education of the public through such means as the Irustees think fit in accordance wilh the Law of Charity. The Alnwick Garden Trust (A ¢¢mpany Ilmited by guarantee) Trustoes. report {continued) Year end8d 31 March 2025 Structure, governance and management (contlnuod} • Methods of appolnlment or electlon of trustees The management of the Trust is the responsibility of the trustees. New truste8s ar8 sel8Ct8d by existing trustees and are appointed by Members of the Trust at the Trusl's annual general meeting. New trustees receive a full induction on appointment lo the Board. The trustees hold no shares in the Trusl but each trustee, as a membar, is a guarantor ofthe Trust to an amount not exceeding £1 in the event of the Trust being wound up. • Organlsatlonal structure and doclslon-maklng policies The Trust is responslble for the d6v8lopmènt and activities of The Garden and Lilidorei. The Trust is Ihe sole member of Alnwick Garden Enterprises Limited and has the power to appoint or remove directors of that company. The activities of the 8ubsidiary company are commercial in nature. These activities include non charitable retailing, catering and events adivilies. In total the non charilable activitie$ are self financing and are carried out to 8UPPOrt The Trust and to assist in keeping admlsslon prlces to visitors to a minimum. Thè day to day running of the Trust and its subsidiary company is delegaled to appropriate members of staff and to the directors of the subsidiary company. Truste88 exercise financial control ovei the activities of tha subsidiary company by means of an agreed annual budget. 8ubstanlial variations thereto having lo be agreed in advance. Trustees meet quarterly to review the activities of Ihe Trusl and its subsidiary. BehNeen the3e meetings. trustees are informed on a monthly basis of actual perfomiance of both entities. The Trust's Chlèf Executivé Officer was Mark Brassell for the entire reporting period. There is a scheme of delegation whereby the trustees have granted powers for the Chief Executive Officer to act on their behalf with tha axception of $p&cified matters. Twstees have also instigated an annual governance assessment in line with the Charity Governance Code to ensure The Tiusl is managed ethically and in compliance wilh industry best practice. Policies and practices are adjusted based on the outcomes of this assessment. • Relatlonshlp wlth Northumberland Eglates The charitable company and Northumberland Eslales hava a clos8 working relationship. The charitable company has received significant financial support dating back to when The Garden was first created and currently comprises of an interest frae loan to the value of £8m. In addition to this the Trust occupies land under a number ol long te￿1 leases with Northumberland Estates. In the 2019120 financial year the legal relationship with Northumberland Estates was altered significanlly. Firstly. the repayment dale of the interest free108n was extended for a further 12 years to 31 March 2047. In addition to this the leases were also extended to the year 2047 to align with the loan repaymenl date. This s8cur8S the futur8 of The Alnwick Garden in its current form until 2047 and ensures charitable outputs for a further 12 years. Each year certain categories of expenditure involving both the Trust and Alnwick Castle that have been incurred by the Trust are recharged back to Alnwick Castle to ensure the Twsl only bears its share of the cosl. All car parking Charges for Alnwick Castle are banked by the Trust in the first instance. Similarly, Alnwick Castle raises invoices for group visits lo the Trust and banks receipts from them. Reimbursement is made on a r￿ular basis by the relevant entity. These arrangements provide managerial and financial benefrts to the charilable group. 12 The Alnwlck Garden Trust (A eornpany Ilmlt•d by 9u•ranl••) Trustees. report (contlnuod) Year •nd8d 31 March 2025 8tfuctUM, gov•rnanc• •nd m•nag•m•nl (¢ontlnu•d • Fln•ncl•l rl•k m•nag•mont The major rl8k$ to thSch thè charitablo oNnpany Is ex￿39d hav8 been Id8ntitknd, and systems h8v8 been ¢slabli8hed to mltigate Ihose tlsks. A full r￿eW of all risks was carried out in 2024 and 2025. The Financé and Audll Commltl88 assoss ri$k$ fegularty with Ihe Senlor Management Team lo keep track of maSor risks and mttigaihjn measures put In placa. Pl•n• ft4r fulur• p•rlod• The Tru8t remoins firnily committèd to completing ihe development ol The Garden. Wllh Phasès l and 11 successlulty delivered, plannlng Is now foeJJ8od on Phas8111, whlth wll indud8 a new Educalion Centre and d8dlcaled gardeners, faci16ty. This final 8lag8 WP en3bl8 trk8 Trust to expand Its edueallon programrnos 61gnlltcantly. d88pénlng Its impact on 8choolJ. comm•Jnllles, arnl visitors. The past year has been one of grcmth and momentum lor thè Trust. and the trust6es are delerrnined to bulld on th18 progress. Looklng ah¢ad, the 25th anniversary ol The Garfen In 2026 will provkle 8 powerfijl opportunty lo celebrate and showcasè translorniallon81 role It has played In the reglon both 8odally and economlcally. Alongsido thls, an exdllng slralegl¢ review is undwmay lo shapo the Twst's amblllons for the next 5 10 10 yaar5, ensurlng e cloar find sustalnabl8 path for future developrnnt. Dl8¢loiur• ol Inforni•tlon lo •udltor Each of the pernons org Irusl8e8 al the brne when Ihls IN8tee8' report is approvad has confirmed thot.. so lar as Ihat trustee Is aware. there h no ralgvant audlt Infomatlon of whlch Ihe ¢horttablo oroup'8 audllor 1$ unaw8ré, and thal tNste• h$s lakan all the 3teps that ought to have been taken as a trustee In tydof to be aware of any relevant audlt Inlormallon and to establish that th8 ch8rilable group's audllor Is awarn ol that Infom18110n. Audltor The audllor. UNW LLP. hAs indlc4led his wlllngness to ccffillnu• In Office. Thé dgslwaled Iru$teos wlll propos• 8 rnolion reappolnllng the audllor al a meeung of th• trustees. Approved by order of t￿ members of the board of tru$te88 on 24 Soplomb¢r 2025 and syngd on Ih•lr behalf by.. Jonalh4n Bla¢kl• CBE 13 The Alnwick Garden Trust (A company Ilmlted by guarantee) Trustees. responsibillties statement Year ended 31 March 2025 The trustees (who are also tha directors of the company for the purpDS8S of company law) are responsible for preparing the trustees, report including the str£tegic report and the financial statements in accordance with applicable law and Uniled Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the truste8S to prepare financial statements for each financial year. Under company law, the trustees must not approve the financial statements unless they are satisfied that they give a tru8 and fair view ol the stale of affairs of the Group and the company and of their incoming resources and application of resources, including their income and expenditure, for that period. In préparing these financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistently., observ8 th8 mathods and principles of the Charities SORP (FRS 1021.. make judgments and accounting estimates that are reasonable and prudent; State whether applicable UK Accounting Standards (FRS 102) have been followed, subjed to any material departures disclosed and explained in the financial statemènts., prepare the financial statemènts on the going ￿ncern basis unless it 18 inappropriate lo presume that the Group will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient lo show and èxplain the Group and the company's Iransaclions and disclose with reasonable accuracy at any time the financial position of the Group and the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding Ihe assets of the Group and the company and hence for taking reasonable steps for th• prevention and detection of fraud and other irregularities. 14 Independent auditor's report to the Members of The Alnwick Garden Trust Opinion We have audited the financial statements of The Alnwick Garden Trusl (the 'parent charrtable company'l and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the consolidated statement of financial activities, the consolidated balance sheet. Ihe company balance sheet, the con501idated statement of cash flows and th8 related notes, including a summary of significant accounling policies. Th8 financial reportin9 framework Ihat has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice}. In our opinion the financial statements.. give a true and fair vi&w of the state of tha group's and of th8 parent charitable company'8 affairs as at 31 March 2025 and of the group's incoming resources and application of resources, including its income and expenditure for the year then ended; have bean properly pmpared in accordance with United Kingdom Generally Accepted Accounting Practice", and have been prepared in accordance with the requirements of the Companies Act 2006. Bagls for oplnlon We conducted our audit in accordance with Intemational Standards on Auditing (UK) ('ISAs (UK),) and applicable law. Our responsibilities under those standards are further described in the 'Auditols responsibilrtias for the audit of the financial statements, section of our report. We are independent of the group in accordance wilh the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, Including the Financial Reporting Councifs Ethical Standard. and we have fulfilled our other èthical responsibilities in accordance with these requirernents. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion, Concluslons relating to going ¢on¢ern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financi81 $tatement$ 1$ appr¢priate, Based on the work we have perforrned, y￿ have not identified any material uncertainties relating to events or conditiong that, individually or collectively, may cast S￿nIfiCent doubl on the group's or Ihe parenl charitable company's ability to continue as a going concern for a p8riod of at least ￿e1ve months from when the financial slalements are authorised for i56ue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sedions of this report. 15 111 Independent auditor's report to the Members of The AlnwiGk Garden Trust (contlnued Othar Infomiatlon The other information comprises the infomation included in the annual report olher than the financial slatem8nts and our auditorfs r8port thereon. The trustees ale responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except lo Ihe extent othemiise explicitly stated in our report, ￿ do not express any form of assurance conclusion thereon. Our responsibility 15 to read the oth8r information and, in doing so. consider whether the other information is materially inconsistent with Ihe financial statements or our knowledge obtained in the course of the audit, or otheThvise app8ars to be materially misslated. If we identify such material inconsistencies or apparent matelial misstatements, we are required to determine whether this gives rise to a material misstatement in the financial $tatemenls themselves. If, based on Ihe work we have performed, we conclude that there is a material misstatement of this other infonnation, vrfe ar& required to report that fact. We have nothing to report in Ihis regard. Oplnlon on other matters prescrlbed by the Companles Act 2006 In our opinion. based on the work undertaken in the course of the audit.. the information given in the trustees, report including the strategic report for the financial year for which the financial statements are prepared 1$ consistent with the financial statements. the trustees. report and the strategic report hav8 been prepared in accordance with applicable legal requirements. Matters on whlch w• aro requlrnd to report by •xc•ptlon In the lighl of our knowledge and understanding of the charitable company and it8 environment obtained in the course of the audit, we have not identified material misstatements in th8 trustees, report including the strategic report. We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion.. the parent charitable company has not kepl adequate and sufficient accounting records, or returns adequate for oui audit have not been received from branches not visited by us: or the parent charitable company financial statemants are not in agreement with the accounting records and returns., or certain disclosures of trustees, remuneration specified by law are nol made., or we have not received all the information and explanation5 we require for our audit. 16 1111 Independent auditor's report to the Members of The Alnwick Garden Trust (continued) Responsibilltlès of trustees As explained more fully in the trustees, responsibilities statement, the trustees (who are also the directors of the charitsble company for the purpo$es of company law) are responsible for the preparation of the financial stalements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement. whether due to fraud or error. In preparing the flnanclal statements, the trustees are responsible for assessing the group's and the parant charitable companls ability lo continu8 as a going concern, disclosing, as applicable, matters related to going concern and using the going ¢oncem basis of accounting unless the twstees eilher intend to liquidate the group or thè parant charitabla company or to céa$• oporations, or havè no r&ali$tic alternative but to do so. Auditor's ro$pon$ibiliti•$ for tho audlt of the flnanclal Statements Our obje¢tive$ are to obtain reasonable assurance about whether the financial stalemenls as a ￿hOle 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 a￿ayS delect a material misstatement when it exists. Misslatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonabty be expected to infiuence the economic decisions of users laken on the basis of these financial statements. A further description of our responsibilities for the audil of the financial statements is located on Ihe Flnancial Reporting Council's website at.. This description forms part of our auditor's report. Extant to whlch the audlt was consldernd capable of detè¢tlng Irregularitim, including fraud Irregularities, including fraud, are inslances of non-compliance with laws and r8gulalions. W8 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. However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud. We obtain and update our understanding of the company, its aclivities, ils control environment, and likely future developments, including in relation to Ihe legal and regulatory framework applicabl8 and how the company is complying with that framework. Based on Ihis undewstanding, we idenlrfy and assess the risks of material misstalemant of the h'nancial statements, whether due to fraud or error, design and perfomi audit piocedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations. including fraud. Based on our understanding of the company, we identified that the principal risks of non*ar 24677,726 26,768,912 19 {13,898,518 (13,803.6521 N•t a•••ts •x¢ludlno p•n*lon •M•t 10,779,208 12,963.260 Tot•1 n•1 4••ot• 10,779,208 12,963,260 Chirlty fvnd• Capital lurKJ Rasldcled fund8 Unrèstrlclod lunds 11,753.196 532035 <1,506￿23> 14.058.596 517,828 (1,613,162) Tolal lund• 10,779,208 12,963.260 Tho comp8nsls net m¢)vem8nl In funds for the ypar was a k)88 of £2.184,05212024'. loss 01 £1.028.3691. The tru8tee8 acknowledg8 thèir r8sponslbilities lor complying wllh the requirements ol tho Act wllh re8PéCt to accountlng records an¢ preparation of financlal slalements. Tho flnanclal $tal•ments were approved and &uthorl88d issu8 by thè tntytees on 24 September 2025 and fjwned on their b8h8lf by: -JtlJa Th• nolas on pages 23 to 48 lorm part of Ih0S9 financial ststements. 21 The Alnwick Garden Trust (A company limited by guarantoel Consolidated statement of cash flows Year ended 31 March 2025 2025 2024 Cash flows from operatlng actlvltles Net cash used in operating activities 983,604 1,009.343 Cash flows from Invastlng aclfvltles Proceeds from the sale of tangible fixed assets Purchase of tangible fixed assets 10,994 5.632 1228,271) (2,691.354) Net cash used In Investlng actlvltles 1217,2771 (2,685,722) Cash flows from flnanclng actlvlti Interest receivabl8 Retail charity bond interest payable 62,234 1620,000 65.638 1620,000) Net cash u$ad in financing a¢tlvltle$ (557,766) 1554,362) Change In cash and cash equlvalents In tho year Cash and cash equivalents at the beginning of the year 208,461 (2,230.741) 3,450.100 1,219,3S9 Cash and cash equlvalents at the end of the year 1,427,820 1,219,359 The notès on pag&$ 23 to 48 fomi part of these financlal statements 22 The Alnwlck Garden Trust {A company Ilmlted by guarantee Notes to the flnanclal statements Year endad 31 March 2025 Accountlng pollclos 1.1 Basls of preparatlon of flnanclal statsments The financial statements have been prepared in accordance with the Charities SORP (FRS 102) Accounting and Rèporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland {FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The Alnwick Garden Trust meets the definition of a public benefrt enlty under FRS 102. Assets and liabilities are initially ieco9nised at hislorical cost or transaction value unless other¥vise stated in the relevant accounting policy. The financlal statements are presented in pounds sterling which is tho functional currency of the company and are rounded to the nearest £1. 1.2 Company 8tatus The company is a company limited by guarantee. incorporated and domiciled in England. The members of the company are the truste8s named on page 1. In the event of the company baing wound up, the liability in respect of the guarantee is limited to £1 per member of the company. 1.3 Ba318 of consolldatlon The consolidatad statement of financial activities (SOFA) and Consolidated balance sheet consolidate the financial statements of the group and its subsidiary undertaking. The results of the subsidiary are consolidaled on a line by line basi$. The group has taken advantage of the exemplion allowed under section 408 of the Companies Act 2006 and has not presented it$ own statement of financial activities in these financial statements. 1.4 Golng concern As noted within the trustees report, the Trust's free cash reseNes Incr8ased from £350,860 al the start of the year to £666,350 by year end. This increase was driven by a strong second half to the financial year and achieved despite the TNSt meoting final residual payments of £193.000 relating to the Lilidorei Construction Project. Income for the year rose by 40/ts compared with 2023r24, with EBITDA after charitabl6 activities improving from a deficit of £28,397 to a surplus of £389,405. A 10-year cash flow forecast has been prepared and is regularly updated to projecl the financial flows for both Lilidorei and The Garden, factoring in the costs ¢f Bonds and Iheir eventual redemption. After making appropriate enquiries and considering the forecasts prepared, the Iruslees have reasonable expeclation that the company and the group has adequate resources lo continue in operational exislence for the foreseeable future and meet its liabilities as they fall due. Consequentty, the trustees conlinuo to believe the going concem basis of accounting is appropriate in preparing these financial statements. 23 The Alnwick Garden Trust {A company limited by guarantee) Notes to tho financial statèments Year ended 31 March 2025 A¢¢ounting policies (¢ontinued) 1.5 Fund accountlng General funds are unrestricted funds which are available for use at the discretion of the trustaes In furtherance of the general objectives of the group and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustee3 for particular purposes. Tha aim and use of exh designated fund is set out in the noles to the financial statements. The capital fund isolates Ihe capital cost of The Garden from the revenue expenditure required to op8n The Garden for public benefit. The costs of depreciating The Garden over Ihe lease term, and the finance costs relating to borrowings lo create the asset are channelEed through this fund. The costs associated with the development of the Lilidorai project are also being channeled through this fund, as well as all finance costs and liabilities. The fund remains unrestricted. Restricted funds ara fund$ which are to be used in accordance wilh specific restrictions imposed by donors or which have been raised by Ihe GfOUP for particular purposes. The costs of raising and administering such funds are charged against the specific fund. Where funds are raised for specifi¢ eapilal expenditure, the funds are restricted until expended on the capital project, and are then transferred to the capital fund as the restriction has been released. The aim and use of each reslricted fund is set out in the noles to the financial statements. 1.6 Income All income is recognised once the company has entitl8m8nt to the income. it is probablè that the income will be ieceived and the amount of income receivable can be measured reliably. Income from visitors comprises admissions lo The Garden, net of VAT, and is recognised as it is received. Income from Friends 18 deferred over the period in which the Friends are entitled to oblaln access to The Garden. Trading income compiises amounts received for catering, car park and retail services and is recognised as the goods or servi￿5 are supplied. Grants are included in the consolidated statement of financial activities on a receivable basis. The balance of income received for specific purpos85 but not expended during the period is shown in the re18vant funds on the balance sheet. Where income is received in advance of entillement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. Donated services or facilitie5 are recognised when the company has control over the item. any conditions associated wilh the donated item have been met, the receipt of economic benefrt from the use of the company of the item is probable and that economic benefit can be measured reliably. In accordan￿ with the Charities SORP (FRS 102) the volunteer time of the Friends is nol recognised. On receipt. donated professional ser￿1C8S and facilities are recognised on the basis of the value of the gift to the company which is the amount it would have been willing to pay to obtain seprfices or facilities of equivalent economic benefit on the open market: a corresponding amount is then recognised in expenditurè in the period of receipt. 24 The Alnwick Garden Trust (A company limtted by guarantee) Notes to the financial statements Year ended 31 March 2025 Accountlng policles (contlnued 1.6 Income {contlnued) Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Income tax recoverable in relation to investment incorne is recognised at the time the investment income is receivable. Other income is recognised in the period in which it 18 receivable and to the extent the goods have been provided or on completion of the service. 1.7 Expendltur• Exp8nditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities, Where costs cannot be directly attributed lo particular activrties they have been allocated on a basis consistent with the use of the resources, Charrtablo activities comprise visitor services, provision of programmes, and garden maintenance. Support Costs are those ¢ost$ incuired directly in Support of expenditure on the object8 of the charty, includin9 those incurred in connection with the adminislration of the Charity and compliance with constitutional and statutory requirements. They are apportioned against Ihe aclivities of the charity in line with the estimated usago of those costs. Cosls of raising funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds. Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable Ihat a transfer of economic benefits will ba raquiréd In settlement and the amounl of the obligation can be measured reliably. Expenditure 18 classified by activity. The costs of each activity are made up of the total of direcl costs and shared costs, including support costs involved in undertaking each activrty. Direct costs 8ttributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which a￿ not attributable to a single activity are apportioned bebween those activities on 8 basis consistent wrth the use of re8ourc8s. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its chaiitable purposes and includes costs of all fundraising activities events and non 20.235 (22,902) 2.089 (6) 6,966 16,168 14,035 320,529 1,079 1,233 3,288 10,000 2.469 5,331 5,000 10,347 4,160 1,020,967 300 1,437 3,808 (2,262) (9) (1,000,000) (880) {1,148) {6,500) 3,114 7,046 5,000 188 (645) (4,040) 2,325 12,303 (1,710) (434) 548,325 1,085,631 (81.3641 (1,034,766) 517.826 Total of funds 15.668,640 10.085,659 (11.242,396) 14,511.903 42 The Alnwick Garden Trust (A company Ilmlted by guarantee) Notes to the flnanclal statements Year 8nd8d 31 March 2025 Desi nate fun The trustees have designaled the following funds for specific purposes: Appeals Unrestricted donations received through appeals and from donations to sponsor benches and trees In Tre Gardan are set aside by the trustees to be used for specific charitable purposes and activities rather than to support the ganeral running of The Garden. Programme Fundralslng This fund repr8s8nted general donations. mainly from donation boxes In The Garden. These funds are Used to top up specrfic programmes when needed, Tractors This fund represented donations received to purchase and maintain ride on Ira¢tors. Bee ProJ•Gt Project to address the Climate Crisis, including Ihe Bee Project that addresses biodiversity loss and how action can be taken to protect biodiversity as well as climate Change action. The donation received will be used to build a climate action interpretive centre. Unrestricted ca Ital fund This represents the capital ￿$1 of The Garden; a8 assets are purchased the amounts are transferred into this furMI. Where long teim loan financa 1$ used to finance the development of The Garden, the ¢orresponding liability is also transferred into the fund as the funds are spent. Rostrl¢t•d funds Funds with specific restrictions on their utllisation are as follows: Roots & Shoots (Young Peopla & Enl•rprls•) This project is focused on educating school children and families on the benefits of healthy living, whilst having fun in the Roots and Shoots garden. The project is funded mainly by The Shears Foundation as well as other smaller donations in th8 year. Urban Project Iyoung People & Entorprlsel This project delivers visits lor schools from disadvantaged areas of Newcastle upon Tyne. supported by the William Leech Trust. Young Gardeners (Young People & Entorprlse} This project provides horticultural, inclusive activities for families with children who have addilional needs. Drugs Educatlon (Young People & Enterprls•) The Drugs Educalion programme is funded via donations from visitors lo The Poison Garden and s88ks lo reach young people across Northumberfand, to educale them around the dangers of substance misuse and 8ncotsrage their resilience to make posrtive1rf8style choices. Enterprise Programme The Grow into Work programme funded by The Mercers, Company seeks to support young people into sustainable employment. Through empowering young people, it supports them to harness their entrepreneurial talent, offers flexible work experience placements and gives them the necessary skills to enable them to Succeed in the workplace. 43 The Alnwlck Garden Trust (A company limited by guarantee) Notes to the financial statements Year 8nd8d 31 March 2025 Elderberrle5 Th8 Elderberries programme is funded through fundraising activits'es, along with the remaining grant from The Stuart Halbert Foundation and a donation from Sir John and Lady Mae Hall, Bloomlng Woll (Elderbèrrlos) This project provides therapeutic horticullural and wellbeing activities for those in the eaty stages of dementia, and is funded by Ihe Kavli Trust. Growlng Together Northumberland This is a S-year project, funded by The National Lottery Community Fund - Reaching Communities, which supports people aged 18 and ovèr who are NEET (Not in Education, Employment. or Training), economically inactive, or unemployed. The projecl aims to improve wellbeing, cultivate skills, and raise aspirations, 6nabling participants to take their next steps into training, employment, or volunle8ring opportunities within their local communty. Play Arèa Funds ware received from the Hobson Trust and Northumberland County Coun¢il'8 Aiming High project towards the conslruction of a children's play area. this being one of ihe future project aims ol the trustees. Wlnter Lighting Project This fund represents donation8 received from weddings held at The Garden and is to be used to fund further installatlons of winter lighting. Eld•vbarrlo$ Drop In Centre Icapftal and costs) In 2014 The Rank Foundation awarded a substantial grant to part fund the capital build of a new centre for the Elderberries programme. The Drop In Centra is a wonderful facility with a home from home feel to support those aged over 55 to raduco isolation. Capltal donatlons This was established in 2014 as a result of a significant donation received. A further substantial donation was received from The Barbour Foundation in 2015. The funds are to be used for the upkeep or purchase of assets for The Garden. Communlty Frldge Funded through Hubbub. this is an initiative to reduce food waste. Provides a social space for people to learn about sustainable eating as well as exchanging food to reduce waste and its environmentsl impact. Seeds for Success Business start-up course funded by North of Tyne Combined Authority providing workshops to help entrepreneurs start up their own small businesses. Grow Into Work Employability Programme funded through North of Tyne Combined Authority that incorporatés a work placement alongside classr￿M-ba5ed sessions on employability skills. Wellbelng Hubs Funded by The Stuart Halbert Foundation, The Alnwick Garden supported a national initiative and opened to provide a warm 8pac8 during the winter months, threa evenings a week. Attendees benefited from hot food and refreshments and a place lo stay warm and help a118viat8 rising energy costs. Horticulture for Health Programme funded by North of Tyne Combined Authority to improve confidence, wellbeing and provide a sens8 of purpose through therapeutic horticulture, helping those who need it, lo move a step closer towards employment. The Alnwick Garden Trust (A company limited by guarantee) Notes to the financial statements Year ended 31 March 2025 Employablllty Projects A Ready for Work programme funded by Bernicia. focusing on teamworking skills and intervi8W preparation. Developed to assist people to be work ready - giving them the additional skills, pieparation to progress into work, enhance self-confidence, gain new ski118 and ￿levant qualification. Lllldorei Travel Fund Established with a donation from a private donor to subsidise travel and support schools to access education programmes at Lilidorei. Other small grants Other small gr8nt6 consist of.. Travelling Elderb¢rries', This project 18 funded by the Combatting Isolation Fund at The Communty Foundation for Tyna & Wear and Northumberland to extend Elderberries activities into the local communities who have not yet a¢¢essed our older peoples work. Mobility Scooters.. In 2014 Motability Operations Limrted donatad some mobility 8COOters to be used by visitors to The Garden. Souper Tuesdays.. Free 30up and refreshments wère offered every Tuesday during tho winter, with advice given on energy efficiency and healthy eating on a budget. Insulated cups wer8 also given to attendees lo reduce the amounts of time a kettle may need to be boiled, thus saving energy. Souper Tuesdays were funded by Communty Action Northumberland. 21. Analys18 of net ass•t8 betwogn funds Analys18 of net assets between funds - current year Unrastrlcted capltal Restrfcted Unrnstrlcted fund funds funds 2025 2025 2025 Totsl funds 2025 Tangible fixed assets Currenl assets Creditots due within one year Creditors due in more than one yaar 25,869,133 25,869,133 1,806,393 2,339,228 (1,246,164) {1,246,164) {69.000) 114,664,530) 532,835 (14,495,530) Total 11,373.603 532,835 491.229 12,397,667 45 The Alnwick Garden Trust (A company Ilmlted by guarantee) Notes to the flnanclal statements Year ended 31 March 2025 21. Anatysls of net assets between funds {contInu￿) Anatysls of net a8Sats between funds- prlor year Unrestricted capital fund 2024 Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Tangible fixed assets Current assets Creditor5 due withln one year Creditors due in more than one year 28,121,8S6 28,121,856 1,640,126 2,157,952 <1.335,940) (1,335,940) (87,000) {14,431.965) 517,826 (14,344,965) Total 13,776,891 517,826 217,186 14,511,903 22. R•conclllatlon of net movement In funds lo net cash flow from opérating actlvltlos Group 2025 Group 2024 Net expenditu￿ for the year (as per Statement of Financial Activities) 12,114,2361 (1,158,737) Adjustments for: Depreciation charges Interest receivable Retail charity bond interest payable Loss on the sale of f￿ed assets Decreasel(incrgase) in stocks Decrease in debtors Decrease in creditors Non cash changes to loan finance Effective interest on loan finance 2,468,500 162,2341 620,000 1,500 2.127,058 (65,638) 620,000 24,222 (84,625) 1,062 326.212 182,296) (1,019,866) 24,902 27.452 125,663 211,265 Net cash provlded by operatlng aclivities 983.504 1,009,343 The Alnwick Garden Trust (A company Ilmlted by guarantee) Notes to the financial statements Year ended 31 March 2025 23. Analysls of cash and cash equivalents Group 2025 Group 2024 Cash in hand 1,427.820 1,219,359 Analysls of changes in net debt At 1 Aprfl 2024 Cash flows Non•cash At 31 March changos 2025 Cash at bank and in hand Dabt dua after 1 year Relail Charity Bond 1.219.359 12.094.378) (12,260,687 208,461 1,427,820 (126,663) 12,220,041) 124,9021 112,276,489) (13.125.606 208,461 1150,5651 113,067,710) Non•cash movéments represent effective Interest rate adjustments and rel&age of amortisad costs. 25. Penslon commltments The group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cosl charge represents Contribulions payable by the group to the fund and amounted to £128,154 (2024.. £117,050). Contributions lotalling £44.043 {2024: £10,846) were payable to the fund at the balance sheel date and are included in creditors. 26. Operating lease Gommhmenl¥ At 31 March 2025 the group had commitments to make future minimum lease payments under non- cancellable operating leases as follows: Group 2025 Group 2024 Amounts payablé: Not later than 1 year 25,456 25,760 47 The Alnwick Garden Trust {A company Ilm5ted by guarantee) Notes to the financlal statements Year ended 31 March 2025 27. Related party transactlons The charrtable company is controlled by ils trustees who hold a majority of the voting rights. Various entities of Northumberland Estates are related partias of the group. Control of these entities is exercised by a Board of Trustees, of which the Duke of Northumberland, husband of the Duchess of Northumberland (a director of the charitable company) is a member. The charitable company and Northumberland Estates have a close working relationship. With effect from 1 October 2009 certain categories of expenditure involving both The Garden and Alnwick Castle Ventures have been incurred by Alnwick Garden Enterprises Limiled and recharges have been made lo ensure The Garden only bears its share of the costs. All car parking charge5 for Alnwick Castle Ventures are banked by Alnwick Garden Enterprises Limited in the first instance. Similarly, Alnwick Castle Venlures rai$&s in￿1¢0$ for Group visits lo The Alnwick Garden and banks ro¢eipts from them. Reimbursement is made on a regular basis by the relevant enlty. These arrang8ment8 provide mana9erial and financial benefils to the charitable company. The group received goods and services during the year from entities within Northumberland Estates costing £38,226 (2024.. £66,783). The group recharged goods and services during the year to Northumberland Eslates totalling £46.509 (2024.. £43,667). The group also operated a joint ti¢keting scheme with Alnwick Castle Ventures., ticket income collected by ACV on behalf of the group of £148,084 {2024.' £174.145) and car park income of £105,374 {2024', £108,410} was collected on behalf of Alnwick Castle Ventures during the year. At the year end. the group was owed £35,229 (2024: owed to £1.731) by Northumberfand Estates. The group held lon9 tenn loans from the 9th Duke of Northumberfand's Will Trust. 10th Duke of Northumberland's referent181 settlement.. Duke's appointed fund, this being an enlty within Northumberland Estates, of £2,220,041 (2024.. £2,094,378), of which £nil falls dua within on? ￿ar. Further details are given In note 19. During the year, Jonathan Blackie, a trustee, received remuneration amounting to £6,000 for non-trustee consultancy services supplied to the charily in the year (2024: £6,000). During the year, John Lovett, a trustee, was paid £nil (2024.. £2,OQO) in relation to consultancy wo undertaken in the development of the Lilidorei Project and for the next phase of The Garden'8 developmenl. During the year, Opencast Soffvlare provided pro bono work for the charitable company. Cate Kalson. trustee, is the Chief People Offi'cer at Opencast Software. The value of the work provided was £nil (2024.. £20,610). 48