2020-12-31-accounts

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Botanic Gardens Conservation International (a company limited by guarantee)

Charity No. 1098834 Company No. 04673175

Reports and Financial Statements

for the year ended

31 December 2020

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Botanic Gardens Conservation International . (a company limited by guarantee)

Contents	Page
Trustees’ and directors’ report	4-11
Independentauditors’ report	12-14
Statement of financial activities	15
Balance sheet	16
Notes	17-26

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Botanic Gardens Conservation International (a company limited by guarantee) Trustees’ and Directors’ Report for the year ended 31 December 2020 i

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Reference and Administrative details of the Charity, its Trustees and Advisors

Name of Charity: Botanic Gardens Conservation Intemational (also known as BGCl)

Charity registration number: 1098834

Company registration number: 04673175 Principal office: Descanso House

199 Kew Road Richmond Surrey TW9 3BW United Kingdom

Trustees and directors: The following were trustees and also directors of BGCI on the date the report was approved:

Prof Stephen Blackmore — Chair

Mr Stuart Clenaghan Dr Gerard Donnelly Mr Martin Gibson — Chair Finance and Audit Committee Dr Charlotte Grezo Dr Kathleen Mackinnon Ms Carmel Helene Mbizvo Ms Kirtida Mekani Mr Michael Murphy — Chair Development Committee HRH Princess Basma bint Ali bin Nayef Sir Ghillean Prance Ms Anna Quenby Dr Maricela Rodriguez-Acosta Dr Peter Wyse Jackson

The directors of the charitable company are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees.

At the Annual General Meeting held on the 15 September 2020, the three longest-serving trustees (out of a total of 11), being eligible, were re-appointed.

Company Secretary: Ms Nicole Lee

Secretary General: Dr Paul Smith

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Botanic Gardens Conservation International (a company limited by guarantee) Trustees’ and Directors’ Report for the year ended 31 December 2020 ‘

Other relevant organisations: Bankers HSBC pic Barclays Bank pic City of London Branch 8 George Street 60 Queen Victoria Street Richmond, Surrey London EC4N 4TR Tw9 1JU

Auditors

Riches & Company 34 Anyards Road Cobham, Surrey KT11 2LA

Solicitors DLA Piper UK LLP 160 Aldersgate Street London EC1A 4HT

Registered Office Descanso House 199 Kew Road Richmond Surrey TW9 3BW

Structure, Governance and Management

Constitution

Botanic Gardens Conservation International was established as the Botanic Gardens Conservation Secretariat by IUCN, the World Conservation Union, at the beginning of 1987. In 1990 it became a separate entity and in 1994 changed its name to Botanic Gardens Conservation International.

On 20 February 2003, Botanic Gardens Conservation International (a company limited by guarantee) was incorporated. Charitable status was granted, and with effect from 1 January 2004, all assets, rights and liabilities were transferred from Botanic Gardens Conservation International to this new company. Botanic Gardens Conservation International (the trust) became dormant from this date. Botanic Gardens Conservation international is governed by a memorandum and articles of association and the liability of the members is limited to £10 per member.

Organisational Structure

BGCI is governed by the Board of Trustees that meets quarterly to guide the organisation’s work programme and to review management accounts, future development and other organisational matters. Day to day management of the charity is delegated to the Secretary General, who acts as BGCl’s chief executive officer reporting to the Board.

The charity is guided by the International Advisory Council. The Council consists of highly respected leaders of the botanic garden and plant conservation community. They provide technical and scientific guidance and advice on the strategic direction of BGCI.

The charity has a Finance and Audit Committee which meets on a regular basis to review and monitor financial and risk management issues. The charity also has a Development Committee which meets regularly and a Remuneration Committee and Nominations Committee which meet on an ad hoc as required basis.

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Botanic Gardens Conservation International (a company limited by guarantee) Trustees’ and Directors’ Report for the year ended 31 December 2020 ‘ Appointment of Trustees

New Trustees (who are also Directors of the company) can be appointed by decision of the majority of the Trustees present and voting at any duly constituted meeting. The total number of Trustees shall be not less than three.

Affiliation BGCI is a worldwide membership organisation.

BGCI is the guarantor for Botanic Gardens Conservation International Africa Limited which was incorporated on 8 October 2018 in Kenya as a company limited by guarantee.

BGCI has sister organisations in the United States of America and the Russian Federation:

• ¢ BGCI US was established in 1998 and is registered as a Not for Profit Organisation in the State of Pennsylvania. It is tax exempt (IRS 0427 30954) and has 501(c) 3 status.

• BGCI Russia was established in 2002 and operates as a non-commercial partnership, registered under the laws of the Russian Federation.

Fundraising Preference Service

BGCI is registered with the Fundraising Preference Service.

Risk Management

A Risk Register which considers the major risks facing the charity, their impact and likelihood of occurrence and identified means of mitigating the risks is in place. The Risk Register is reviewed on an annual basis. The Trustees are satisfied that this process is adequate to assess the major risks to which the charitable company is exposed.

Grants Made for Projects

BGCl’s policy on making grants is set out in note 1(f) to the financial statements.

Volunteers and Donated Services and Facilities

BGCl's policy on the value of these services provided is set out in note 1(i) to the financial statements.

Objectives and Activities

Objectives

The objectives of Botanic Gardens Conservation International as set out in the organisation's constitution are as follows:

• « To promote for the public benefit the conservation and protection of plant species of the worid, in particular the cultivation and maintenance of such plants by Botanic Gardens

• « To promote the advancement of education of the public and vocational training and research conceming such plants and their conservation

• To gather and disseminate information on wild plants cultivated or maintained in Botanic Gardens for the purpose of such conservation

• « To establish an international network of plant resources via an international database for the purposes of such conservation

Public benefit

When planning its objectives and activities for the year, BGCI has considered the Charity Commission’s guidance on public benefit. All of the charitable activities of BGCI focus on plant conservation and are undertaken to further the organisation’s charitable purposes for the public benefit.

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Botanic Gardens Conservation International (a company limited by guarantee) Trustees’ and Directors’ Report for the year ended31 December 2020 '

Significant Activities and Achievements BGCI works within the established business case and strategic plan for the 5 year period to December 2020. A new 5 year strategic plan for the period from 2021 to 2025 has been developed and was approved by the board in November 2020.

The business case states:

‘BGCI is in a prime position to promote a more efficient, cost-effective and rational approach to plant conservation in botanic gardens.

We will do this in four ways by:

1. Leading and advocacy: We will provide leadership to the botanic gardens sector, grow our membership and promote the role of botanic gardens to policymakers and funders in delivering the Global Strategy for Plant Conservation.

2. Leading innovative and strategic projects that achleve outcomes In plant conservation policy, practice and education: BGCI will lead projects and networks delivering Global Strategy for Plant Conservation targets in red listing (Target 2), seed conservation (Targets 8 & 9), ecological restoration (Targets 4 & 8), plant health and biosecurity (Target 10), ecosystem services and livelihoods (Targets 12 & 13) and education (Target 14).

3. Building plant conservation capacity in botanic gardens and broader society: We will build technical capacity in the botanic garden sector and beyond by acting as a knowledge hub and a clearing house for best practice, training, resources and expertise (Targets 3 and 15).

4. Providing funding: We will accelerate our fundraising efforts in order to mobilise funding to deliver plant conservation projects and outcomes in the botanic gardens sector and wider society.’

Advocacy and Policy Support

COVID-19 restricted face-to-face conferences throughout 2020. Nonetheless BGCI's work in the area of Advocacy and Policy Support in 2020 progressed:

• e BGCI grew its membership by 9% in 2020, including a network membership agreement that allows us to reach smaller botanic gardens in Brazil

• e The 2020 Technical Review on sustainability in botanic gardens was completed and published

• e The International Advisory Council (IAC) meeting in Edinburgh could not take place, however panel decisions were taken online and a statement on the threat to biodiversity from large scale tree planting signed by 28 IAC members

• e The number of collections, taxa and institutions contributing to PlantSearch grew by up to 37%. e We published the Plant Conservation Report, working closely with the CBD Secretariat.

• e We worked in partnership with numerous trusts and corporates in research and conservation projects, including Crop Trust, the Global Genome Initiative, Horizon 2020 and The Morton Arboretum.

Leading Innovative Projects BGCI project work in 2020 included: Supporting networks promoting botanic garden and plant conservation

Virtual meetings of the European Consortium, the Mesoamerican Botanical Gardens and the South American Botanical Garden Network were heid in 2020. GCCO consortium members were confirmed for China, Southeast Asia and Mexico/Central America. GCC Oak US region was launched online. AETFAT and 7GBGC were postponed to 2022.

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Botanic Gardens Conservation International (a company limited by guarantee) Trustees’ and Directors’ Report for the year ended 31 December 2020 ‘ Databases

Some 5,000 updates have been made to the GlobalTreeSearch database. The Giobal Tree Assessment Portal is to be launched with the GTA report in 2021. Over 33,000 assessments were entered into ThreatSearch and its data used extensively, including in the RBG Kew State of World’s Plants and Fungi report and the FAO State of the World’s Forest Genetic Resources report.

The Global Tree Assessment (GTA) Nearly 11,000 assessments were submitted in 2020 and over 9,000 species were published on the IUCN Red List, including the completion of Global Oaks. We completed assessments for all trees endemic to Madagascar, Papua New Guinea and Brazil in 2020 and will publish these in 2027. We submitted the second GTA proposal covering 2021-23 and obtained approval for funding.

The Global Seed Conservation Challenge (GSCC)

The IUCN Seed Conservation Specialist Group (SCSG) website was launched and two leadership meetings held with new members from India and Chile. Seed collections were reviewed for Target 8 reporting for the Plant Conservation and SOWP reports. Targets were also developed for the next cycle, from 2021-2024.

The Ecological Restoration Alliance (ERA)

By the end of 2020 the ERA had 43 partner institutions in 21 countries, working on over 50 long-term restoration sites. The ER Directory of Expertise was established in 2020 to support these efforts. ERA members co-authored a paper on the Ten golden rules for reforestation, published in early 2021.

The International Plant Sentinel Network (IPSN)

In the International Year of Plant Health, IPSN completed the 3-year Euphresco project. Funding from DEFRA has now been agreed covering a pilot study, Emerald Ash Borer monitoring and workshops held in Australia and New Zealand. IPSN featured in Tree Health Week and at the Sibbaldia conference.

The Global Trees Campaign (GTC)

During 2020 we worked with partners in more than 20 countries to deliver targeted tree conservation actions for over 80 threatened tree species. Individuals of species that were critically endangered or thought extinct were discovered and numerous seedlings raised and planted in our recovery programmes. In 2020, we also launched The Tree Conservation Fund to direct funding to tree species on the brink of extinction.

Sustainabillty and engagement

We obtained funding for the WRAP food waste project to launch in 2021 and we developed e-learning modules for public engagement for UCL. Darwin projects in Uganda, Malawi and Cambodia, focusing on socio-economically important plant species, are underway.

Building plant conservation capacity

BGCI work in 2020 to build plant conservation capacity included:

Database development

BGCI maintains four significant databases.

ThreatSearch is the most comprehensive database available of plant conservation assessments and is a key tool in activities for achieving Targets 2, 7 and 8 of the Global Strategy for Plant Conservation. In 2020 ThreatSearch comprises some 360,000 conservation assessments, representing over 139,000 species.

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Botanic Gardens Conservation International (a company limited by guarantee) Trustees’ and Directors’ Report for the year ended 31 December 2020 PlantSearch is a unique global database of the living plant, seed and tissue collections maintained by botanic gardens, with 1.5 million records representing over 600,000 taxa maintained at more than 1,100 botanic gardens. A joint project between BGCI in the UK and US, and the Chicago and United States Botanic Gardens was launched in 2020 to develop further both the PlantSearch and GardenSearch databases to enhance their usefulness and accessibility.

GlobalTreeSearch is a global tist of the world’s tree species and their country distributions. in 2020, 900 species were added fo the tree list and over 9,000 geographic and taxonomic changes made. Garden Search is a digital directory of botanic gardens, their staff, facilities and expertise. Over 200 new Garden Editors were registered and 450 Garden Search profiles updated in 2020. In 2020, we launched the Directory of Expertise to enable experts within botanic gardens to make their skills and knowledge accessible to the community. 11 areas of expertise have been developed.

Funding proposals to develop PlantSearch and GardenSearch further have been successful and work is underway on accessions modules and the plant material exchange platform, and on integration with ThreatSearch and GlobalTreeSearch.

Educatlon

We delivered 14 courses in 2020 on a range of topics and trained nearly 1,600 people from stakeholders that included gardens, universities, botanical and forestry institutes, in spite of the challenges of COVID19.

We are developing online courses on the Moodle platform, starting with a soft launch for GTC partners on Vegetative Propagation of Threatened Tree Species in late 2020.

Accessibillty

We have made the PlantSearch/GardenSearch video available in Spanish and promoted it to the South American network. French and Chinese versions of the Botanic Garden Manual, which supports the building of capacity in botanic garden development and management are now under development.

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Publications and communication

BGCI produced a range of publications in 2020 including BGjournal, Roots and the e-newsletter Cultivate. In addition, we co-authored a paper in Biological Conservation on the assessment of ail 822 species of eucalypt, and the Red Lists of Dry Forest Trees of Madagascar, Acer and Oaks were published. A full list of BGCI authored and co-authored publications is available in the annual members’ review.

Connecting people

BGCI continues to play an active part in connecting people within our community. In 2020 we launched our online forum with the aim of supporting gardens, arboreta and other botanical institutions through the COVID-10 pandemic. Its scope has now expanded to cover other topics of general interest to the community. We awarded four grants through the Partnership Programme in conjunction with the Giobal Botanic Garden Fund.

The new South-East Asian coordinator joined us and will be active in promoting and advancing the network in 2021.

During the year, BGCI staff were actively engaged in supporting the global botanic garden community, participating in a wide range of conferences, workshops, meetings and symposia, albeit virtuaily.

We also experienced a lot of interest in our accreditation programme and will be investing in a new platform in 2021 to speed up the application process.

The BGC! website and databases continue to play a key part in making connections within our community providing a service for plant requests and job advertisements.

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Botanic Gardens Conservation International (a company limited by guarantee) Trustees’ and Directors’ Report for the year ended31 December 2020 ‘

The above is a short summary of the organisations’ activities in 2020. More information is available in our Member's Annual Review available from our office and in the detail of our work which is on our website www.bgci.org.

Providing funding

In 2020 we supported 115 institutions in 55 countries financially, including 40 small grants through the Global Botanic Garden Fund. We enjoyed the support of a range of government, quasi-government, trust and corporate funders, as well as raising funds through membership income and individual donations. We have developed a fundraising strategy, which will be implemented as part of our new 5-year plan.

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Botanic Gardens Conservation International (a company limited by guarantee) Trustees’ and Directors’ Report for the year ended 31 December 2020

Financial Review and Reserves

The transactions of the charity are summarised on page 15 of the financial statements, with further details of restricted funds transactions in note 16 on page 24.

The charity in common with many other similar charities receives its donation and grant income with fluctuations in timing and frequency. Payments are dependent on a number of factors such as the preference and cash flow of funders, the completion of work and the submission of reports. In some cases funding is provided in advance of work and in other cases the charity pre-finances expenditure. Some funding is provided through medium term agreements while other funding has shorter agreements or is one off in nature. All of these factors contribute to the need for the charity to hold unrestricted reserves. The trustees currently believe that the charity should aim to hold unrestricted funds in the order of £300,000. At the year-end net assets and total funds showed a surpius of £716,469 (2019 £646,466) which was made up of restricted funds of £333,352 (2019 £242 156) and unrestricted funds of £383,117 (2019 £404,310). The trustees anticipate that the charity will be able to maintain its target level of reserves. We will continue to monitor the level of reserves throughout the year and will review the policy on an annual basis. The trustees continue to monitor the impact of COVID-19 on all aspects of the charity, including restrictions and delays to conservation activities, and we are proactively managing associated risks. All staff have continued working, using agile techniques. We continue to work closely with our overseas partners and there has been very little impact on projects beyond delays to timing. We have used these delays to develop a range of digital tools that mitigate the COVID-19 threat and reduce BGCI’s carbon footprint from face-to-face meetings with its members and partners. These tools include an online discussion forum for member institutions coping with COVID (httos://forum.baci.org/), a Directory of Expertise for member institutions to promote their skills (https:/Avww.bgci.org/resources/baqcidatabases/directory-of-expertise/), a Moodle online learning platform for delivery of vocational training, an improved Customer Relationship Management database enabling specific services and knowledge products to be delivered to members, and a new donations/appeals page with a simplified payment system (hitps://app.sheepcrm.com/baci/appeais/). We have also launched a series of webinars to extend our reach.

Investnent Policy and Performance

The trustees updated their investment policy during 2018. They appointed an investment advisor, Rathbone Unit Trust Management, to guide their decision-making consistent with the aim of growing surplus capital with a reasonable income and with a balanced or medium attitude to investment risk. Sufficient cash is to be retained in current and deposit accounts to provide for the regular expenditure associated with the charity.

BGCt invested £200,000 during 2018 in Rathbone’s Core Investment Fund for Charities. !ncome in 2020 was £10,853 (2019 £5264). The valuation at 31 December 2020 was £220,322 (2019 £209,469) reflecting a strong year of investment performance. BGC! aims to be a long term investor with these surplus funds.

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Botanic Gardens Conservation International (a company limited by guarantee) Trustees’ and Directors’ Report for the year ended 31 December 2020 |

Plans for Future Periods BGCI plans its activities on an annual basis, in line with these goals defined in the 2021-25 year plan:

• e Connecting people e Sharing knowledge and resources e Saving plants e Addressing global challenges through public engagement and education e Ensuring an effective and resilient BGC]

Key activities and outcomes planned for 2021 include:

• Connecting people e Agree and disseminate post-2020 Global Strategy for Plant Conservation targets among the botanic garden community.

• e Further develop and disseminate Global Tree Assessment portal data e Publish a European genetic resources strategy and develop three strategic biodiversity partnerships

• e Support the EC global United for Biodiversity coalition, the development of a climate resilience tool and the integration of biodiversity into economic planning

• e Host IAC general meeting, broaden IAC representation and publish a Technical Review e Host regional network meetings in all key sites e Grow general and patron membership with improved communication and value-add

• e Establish 10-year plan for BGCI congresses e Launch BGCt initiatives to recognise outstanding contributions by inspirational individuais

Sharing knowledge and resources

• e Accredit 100 institutions through the BGCI Accreditation Scheme and co-brand with national/regional networks

• e Support a minimum of 20 institutions through BGCI consultancy services * Add 100 experts to Directory of Expertise and promote its use and usefulness ¢ Train a minimum of 500 individuals and extend use of Moodle

• e Extend existing database platforms and develop a climate resilience tool and a plant material exchange platform

• e Extend use of PlantSearch and add data sharing agreements e Develop mitigation tools for disaster scenarios, including Technical Review, Global Botanic Garden Fund sub-grant, and Directory of Expertise resource

• e Disburse £1.25m in grant funding

• Saving plants

• « Launch the Tree Conservation Fund and disburse funding for a minimum of eight species « Publish the Global Tree Assessment report, detailing the conservation status of global tree diversity, ensure that 70% of tree species have up-to-date assessments on the IUCN Red List, and launch the Global Tree Assessment Portal

• e Keep ThreatSearch and the conservation action tracker up-to-date and expand the Tree Conservation Database

• e Develop the next phase of the Global Tree Campaign, launching and extending GTC projects in Asia, Africa and the Americas

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• e Ensure six target tree groups and 25 threatened Global Conservation Consortia species are supported with conservation planning and in situ action

• e Identify four additional countries for the Ecological Restoration Alliance of Botanic Gardens’ national level approach with lead partner engaged and funding raised for one of these

• e Produce papers on socio-economically important plants and botanic garden support for their development and conservation

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Botanic Gardens Conservation International (a company limited by guarantee) Trustees’ and Directors’ Report for the year ended31 December 2020 |

• e Promote the use of the IUCN Seed Conservation Specialist Group, including publication of the first identification protocol and global list of exceptional plants

• e Run IPSN-related projects to collect data on pests and diseases in eastern Europe, Australia and New Zealand

Addressing global challenges through public engagement and education

• e Secure Phase 1 funding for the Sustainability Challenge, confirm project partners and chailenge trials, and identify and secure funding for at least two new sustainability projects

• e «Identify Education Consortium members and hold first meeting « Develop two new partnerships with other sectors and run five new campaigns with botanic garden members

• e Collect baseline data for evaluation of engagement programmes and develop outline training plan for impact monitoring

Ensuring an effective and resilient BGC]

• « Ensure BGCI regional offices are fit-for-purpose and robustly organised in compliance with local regulatory and other requirements

• e Increase media profile to support goal delivery, including creation of a visual and social media identity, development of brand guidelines and press kit, updated communications materials, and active promotion of BGCI output and activities

• e Review and restructure staffing to fill competency gaps and diversify and strengthen the board e Develop and monetise BGCI consultancy services to raise £75,000

• e Raise £100,000 in corporate sponsorships, developing relationships with at least five new corporate partners

• e Raise £2.5m through the Tree Conservation Fund and the Sustainability Challenge

• e Implement sustainable ethical travel, procurement, investment and other policies

• e Improve efficiency and reduce risk through automation and re-engineering of finance processes e Carry out five-year IT infrastructure investment review and agree investment plan

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Botanic Gardens Conservation International (a company limited by guarantee) Trustees’ and Directors’ Report for the year ended 31 December 2020 '

Directors’ and Trustees’ responsibilities for financial statements

Charity and company law require the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the income and expenditure of the company for that period. !n preparing those financial statements, the trustees are required to:

• select suitable accounting policies and apply them consistently;

• "observe the methods and principles in the Charities SORP; «make judgements and estimates that are reasonable and prudent, « state whether applicable UK accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;

• "prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure to auditor

(a) so far as the trustees are aware, there is no relevant audit information of which the company’s auditors are unaware, and

(b) they have taken ail the steps that they ought to have taken as trustees in order to make themselves aware of any relevant audit information and to establish that the company’s auditors are aware of that information.

Small companies regime

This report has been prepared taking advantage of the exemptions for small companies within Part 15 of the Companies Act 2006.

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On behalf of the Board:

Prof Stephen Blackmore — Trustee 25 May 2021

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Independent auditors’ report to the members of Botanic Gardens Conservation International (a company limited by guarantee)

We have audited the financial statements of Botanic Gardens Conservation International for the year ended 31 December 2020 set out in the Statement of Financial Activities, Balance Sheet, accounting policies and notes to the accounts. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generaily Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of freland’.

This report is made solely to the charitable company’s members, as a body, in accordance with the Companies Act 2006, Pt. 16, Ch. 3. 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 auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Opinion

In our opinion, the financial statements:

• give a true and fair view of the state of the charitable company’s affairs as at 31st December 2020 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;

• 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 (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern We have nothing to report in respect of the following matters in relation to which the ISAs(UK) require us to report to you where:

• the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or

• the directors have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charitable company’s ability to continue to adopt the going concem basis of accounting for a period of at least 12 months from the date when the financial statements are authorised for issue.

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independent auditors’ report to the members of Botanic Gardens Conservation International (a company limited by guarantee)

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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

We have nothing to report in this regard.

Opinions 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 trustees’ and directors’ report for the financial year for which the financial statements have been prepared is consistent with the financial statements; and

• the trustees’ and directors’ report has been prepared in accordance with applicable legal requirements.

Matters on which we are requlred to report by exception

In the light of the knowledge and understand of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ and directors’ report.

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, or returns adequate for our audit have not been received from branches not visited by us; or

• the financial statements are not in agreement with the accounting records and returns; or

• • certain disclosures of directors’ remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit.

Responsibilities of directors and trustees

As explained more fully in the directors’ and trustees’ responsibilities statement, the trustees (who are also the directors of Botanic Gardens Conservation International for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that the financial statements 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.

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Independent auditors’ report to the members of Botanic Gardens Conservation International (a company limited by guarantee)

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters relating to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or to have no realistic alternative but to do so.

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 auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but it is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

Nicaolas Caso (Senior Statutory Auditor) for and on behalf of Riches & Company hartered Accountants Statutory Auditors

2S UW“ Low: } 34 Anyards Road Cobham Surrey KT11 2LA

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Statement of financial activities including income & expenditure account for the year ended 31 December 2020

		Restricted funds	Unrestricted funds	Total funds	Total funds
Income	Note	2020 £	2020 £	2020 £	2019 £
Income from charitable activities	2	1,656,846	288,625	1,945,471	1,892,336
Donations	3	60,428	6,947	67,375	102,642
Investmentincome	4	-	6416	6416	9,659
Total Income		1,717,274	301,988	2,019,262	2,004,637
Expenditure
Expenditure on charitable activities	5	(1,626,078)	(264,072) (1,890,150)		(2,352,972)
Costs of raising funds	5	-	(69,962)	(69,962)	(66,417)
Total expenditure		(1,626,078)	(334,034) (1,960,112)		(2,419,389)
Net Income/(expenditure) and net
movement in funds forthe year before
losses on investments	7	91,196	(32,046)	59,150	(414,752)
Net gains/(losses) on investments	11	-	10,853	10,853	23,389
NetMovement In Funds		91,196	(21,193)	70,003	(391,363)
Reconciliation offunds
Total funds brought forward	16	242,156	404,310	646,466	1,037,829
Transferbetweenfunds		=	-	-	-
Totalfundscarriedforward	16	£333,352	£383,117	£716,469	£646,466

All amounts relate to continuing operations.

The company had no material recognised gains or losses other than those included in the gains and losses above, and therefore no separate statement of total recognised gains and losses has been presented.

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Botanic Gardens Conservation International (a company limited by guarantee)

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Balance sheet as at 31 December 2020

:

	Note	£	2020	£	£	2019	£
Fixed assets
Tangible fixed assets	10	18,095			18,159
Investments	11	224,071			213,218
			242,166			231,377
Current assets
Debtors	12	108,166			28,933
Cash at bank and in hand		§18,227			500,267
		626,393			529,200
Creditors: amounts falling
due within one year	13	(182,091)			(114,111)
Net current assets			474	302		415,089
Total assets less current liabilities			£716,469			£646	466
Funds
Restricted funds	16, 18		333,352			242,156
Designated funds	16,18			-			-
Unrestricted fund	16, 18		383,117			404,310
			£716,469			£646,466

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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Approved by the Board of Directors on: 25 May 2021

and signed on its behalf by:

Prof Stephen Blackmore

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Company Number: 04673175

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Botanic Gardens Conservation International (a company limited by guarantee) Notes forming part of the financial statements 1 Accounting policies

• (a) Accounting convention These financial statements have been prepared under the historical cost convention, and in accordance with applicable accounting standards, the Companies Act 2006, the Charities Act 2011, the Charities SORP 2 (FRS 102) and the Financial Reporting Standard (FRS 102). The principal accounting policies adopted in the preparation of the financial statements are set out below.

The company is registered in England with registration number 04673175 and its registered office is Descanso House, 199 Kew Road, Richmond, Surrey, TW9 3BW, United Kingdom.

The company has taken advantage of the exemption in FRS 102 from the requirement to produce a cash flow statement on the grounds that it is a small company.

These financial statements are presented in pounds sterling which is also the functional currency of the company.

The accounts present information about the company as an individual undertaking and not about its group on the grounds that the subsidiary companies have been dormant since incorporation and therefore the trustees are not required by Section 399 of the Companies Act 2006 to prepare group accounts for the year. The subsidiary companies are included at cost.

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

The trustees have considered the financial position, forecasts and cash flows of the organisation and are satisfied that it is appropriate to prepare the accounts on a going concern basis.

(b} Depreciation Computer equipment is depreciated at 25% per annum ona straight-line basis in order to write off the cost of the assets over their estimated useful lives.

{c) Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds are funds which are established by the Board from time to time for specific purposes. They are not restricted funds and any surplus or deficit remaining when the fund is closed will be transferred to or from the general funds.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The aim and use of each restricted fund is set out in note 16 to the financial statements.

(d) Income Voluntary income including donations, gifts and legacies and grants that provide core financing or are of general nature are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.

Such income is only deferred when the donor specifies that the grant or donation must only be used in future accounting periods or the donor has imposed conditions which must be met before the charity has unconditional entitlement.

Investment income is recognised on a receivable basis.

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Botanic Gardens Conservation International (a company limited by guarantee) Notes forming part of the financial statements (continued)

• (e) Expenditure Expenditure is recognised whena liability is incurred.

• ° Costs of raising funds are those costs incurred in attracting donations and . grants.Charitable activities include expenditure associated with the conservation and protection of plant species of the world including research, education and vocational training and the dissemination of information.

• ° Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.

• ° Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, e.g. allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

• (f) Grants Grants are awarded to members or other conservation organisations, who have agreed @ partnership in order to undertake direct, on the ground plant conservation projects that achieve the objectives of BGCI.

• (g) Pension costs The company operates a defined contribution pension scheme. Contributions are charged to the unrestricted fund as they become payable in accordance with the rules of the scheme.

• (h) Foreign currency Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Assets and liabilities at the year-end are converted into sterling at the year-end rate. Any loss or gain on foreign currency conversion is charged to overhead expenses as incurred.

• (i) Volunteers and donated services and facilities The value of services provided by volunteers is not incorporated into these financial statements, as it is not considered significant.

Where services are provided to the charity as a donation that would normally be purchased from our suppliers, this contribution is included in the financial statements at an estimate based on the value of the contribution to the charity.

• () Taxation As a registered charity, the company is exempt from liability to corporation tax on its charitable activities.

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• (k) Leasing arrangements Rentals payable under operating leases are charged to the unrestricted reserves on a straight-line basis over the lease term.

• (I) Fixed asset investments Investments are a form of financial instrument and are initially recognised at their transaction costs and subsequently measured at their fair value as the balance sheet dates using the quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation.

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Botanic Gardens Conservation International (a company limited by guarantee)

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Notes forming part of the financial statements (continued)

2!

2 Income from charitable activities

	2020 Restricted Funds	2020 Unrestricted Funds	2020 Total Funds	2019 Restricted Funds	2019 Unrestricted Funds	2019 Total Funds
	£	£	£	£	£	£
Grants	1,656,845	2,500	1,659,345	1,627,100	-	1,627,100
received
Membership
fees Sundryincome	- -	274,670 11,455	274,670 11,455	- -	259,144 6,092	259,144 6,092
	1,656,845	288,625	1,945,470	1,627,100	265,236	1,892336

3 Donations

The income from donations was £67,375 (2019 £102,642) of which £6,947 was unrestricted (2019 £49,679) and £60,428 was restricted (2019 £52,963).

4 Investment Income

;

		2020	2019
		£	£
income	distribution from investment	2,129	5,264
Interest	on cash deposits	4,287	4,395
		£6,416	£9,659

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Botanic Gardens Conservation International (a company limited by guarantee) Notes forming part of the financial statements (continued) 5 Analysis of expenditure on charitable activities and costs of raising funds

||Costs of|Charitable|Support|Govern-|2020|2019||| |---|---|---|---|---|---|---|---| ||raising
activities
Costs
ance
Total
Total
|
funds
costs
|
£
£
£
£
£
£
|||||||| |Staffcosts
Grants|67,618
-|617,116
785,378|88,719
31,501|17,503
-|790,956
816,879|700,340
1,104,574||| |Consultants|||||||| |& workshops|-|158,485|8,336|270|167,091|282,337|| |Printing|||||||| |& distribution|1,569|5,785|4,888|-|12,242|42,862|| |Travel|-|20,541|1,498|973|23,012|140,653|| |Other direct costs
Rent & services
Administration|-
-|635
-|-
45,508|-
.|635
45,508|16,206
44,233||
|
|| |costs|775|-|95,073|296|96,144|74,341|| |Depreciation|||||||| |& losson disposal|-|-|7,645|-|7,645|13,803|| |Allocation of|||||||| |governance costs|-|-|19,042|(19,042)|-|-|| |Reallocation of|||||||| |support costs|-|302,210|(302,210)|-|-|-|| ||69,962|1,890,150|-|-|£1,960,112|£2,419,389||

Included in rent and services are donated services of £6,000 (2019 £6,000).

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6 Analysis of governance and support costs

The company initially identifies the costs of its support functions. It then identifies those costs which relate to the governance function. Having identified its governance costs, the remaining support costs together with the governance costs are allocated to the costs of the charitable activities.

7 Net income/(expenditure) for the year

Net income/(expenditure) for the year is stated after charging:

	2020	2019
	£	£
Depreciation & loss on disposal	7,645	13,803
Auditfees	7,200	7,200
Non-financial statements audit fees	-	5,268
Feespaidtoauditorsfornon-auditservices	1,680	1,560

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9

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Botanic Gardens Conservation International (a company limited by guarantee) Notes forming part of the financial statements (continued)

8	Staffcostsand thecostofkeymanagementpersonnel
		2020	2019
		£	£
	Total remuneration:
	Salaries Socialsecuritycosts Pension costs	680,183 63,151 47 622	599,454 56,223 44,663
		£790,956	£700,340
	The average numberofpersons employed by the company	was:
	Management	Number 1	Number 1
	Programme staff	16	16
	Administration	4	4

The key management personnel of the charity comprise the trustees, the Secretary General and the other members of the senior management team. The total employment benefits, including employer pension contributions of the key management personnel was £368,683 (2019 £244,751), following the broadening of the senior management team.

In 2020 the emoluments of the highest paid member of staff were in the range £80,000- £89,999 (2019 - £80,000 - £89,999); pension contributions of £9,096 (2019 - £8,918) were made for this person.

Trustee remuneration and expenses and related party transactions

No remuneration was paid to the directors or trustees during the year. No travel costs were reimbursed to any director in 2020 (2019 £2,681 to 1 director).

No director or trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year (2019 — ENil). 10 Tangible fixed assets

Tangible fixedfixed assets
	Computer equipment
Cost:
At 1 January 2020	53,786
Additions in the year	8,284
Disposals	(875)
At31 December2020	61,195
Depreciation:
At 1 January 2020	35,627
Charge forthe year	7,716
Accumulated depreciation on disposals	(243)
At 31 December2020	43,100
Net book value:
At31 December2020	£18,095
	—_
At31December2019	£18,159

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Botanic Gardens Conservation International (a company limited by guarantee) Notes forming part of the financial statements (continued)

11	Fixed assetinvestments
	Movement Infixed assetinvestments	2020 £	2019 £
	Value broughtforward at 1 January	213,218	186,374
	Additions to investments atcost	-	3,455
	Net gain/(loss) on revaluation	10,853	23,389
	Market value as at 31 December	£224,071	£213,218
		———— a	—=
	Investments at fair value
	Comprised:	2019	2019
		£	£
	Unit trusts	220,322	209,469
	BGCI Trading Limited	294	294
	Botanic Gardens Conservation International Africa Limited	3,455	3,455
		£224,071	£213,218

investments are carried at their fair value. Investments in unit trusts are traded in the London Stock exchange. The holding in the unit trust is at the open price. The basis of fair value for quoted investments is equivalent to the market value, using the open price. Asset sales and purchases are recognised at the date of trade at cost (that is their transaction value). On Sth December 2006 the company formed a 100% subsidiary company, BGCI Trading Limited, registered in England with registration number 06019325. The registered office is Descanso House, 199 Kew Road, Richmond, Surrey, TW9 3BW, United Kingdom. Since incorporation this company has remained dormant. The share capital and reserves of BGCI Trading Limited at 31 December 2020 totalled £1. This investment is carried at cost.

On 8th October 2018 the company formed a subsidiary company, Botanic Gardens Conservation international Africa Limited, registered in Kenya with registration number CLGVXFAEQ. The company is limited by guarantee and Botanic Gardens Conservation International are the guarantor. Since incorporation this company has remained dormant. The reserves of Botanic Gardens Conservation International Africa Limited at 31 December 2020 totalled £0. This investment is carried at cost.

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Botanic Gardens Conservation International (a company limited by guarantee) Notes forming part of the financial statements (continued)

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12.	_—Debtors	2020	2019
		£	£
	Amounts due within one year:
	Grants, subscriptions and donations Prepayments andotherdebtors	90,195 17,971	20,780 8,153
		£108,166	£28,933
13	Creditors
		2020	2019
		£	£
	Amounts falling due within one year:
	Salaries and social security costs	18,075	15,792
	Accruals and other creditors	134,016	98,319
		£152,091	£114,111

14 Operating lease commitments

The company is committed to making the following payments during the next year in respect of operating leases, which expire in:

				Land and	buildings
				2020	2019
Less	than	one	year	£36,980	£35,777

15 Legal status of the company

The company is a private company limited by guarantee and has no share capital. The liability of each member in the event of winding-up is limited to £10.

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Botanic Gardens Conservation International (a company limited by guarantee) Notes forming part of the financial statements (continued)

16 Reconclliation and analysis of movement of funds

	At		Direct		At 31
	1 January 2020	Income	project expenditure	Indirect expenses	December 2020
Restrictedfunds Belvedere Trust	£ -	£ 5,000	£ (5,000)	£ -	£ -
Chanticleer Society	-	7,475	-	-	7,475
Chicago Botanic Garden	-	2,789	-	(2,789)	-
CHK Foundation Critical Ecosystems Partnership Fund	- 19,500	10,000 -	(10,000) (33,512)	- ~	- (14,012)
Department for Environment,
Food & Rural Affairs	-	46,618	(10,331)	(46,686)	(10,399)
EU Horizon 2020	27,378	-	(612)	(12,116)	14,650
Fondation Franklinia	50,083	1,061,521	(532,050)	(404,721)	174,833
Keidanren Nature
Conservation Fund	5,871	24,042	(16,002)	(6,908)	7,003
ICRAF IUCN	- 6,055	14,996 22,030	- -	(14,996) (23,170)	- 4,915
Maple Society	-	500	(428)	(72)	-
Mohamed bin Zayed Species
Conservation Fund	11,533	-	(9,344)	(1,044)	1,145
Missouri Botanical Garden	-	4,462	-	(4,462)	-
National Geographic	14,223	34,077	(21,778)	(3,991)	22,531
Rufford Foundation	-	15,000	(476)	(14,524)	-
The Darwin Initiative	7,741	341,574	(253,422)	(55,342)	40,551
The Food & Environment
Research Agency	-	7,250	-	(7,250)	-
The Klorane Institute	1,082	11,108	(7,252)	(5,777)	(839)
The Rothschild Foundation	13,361	17,827	(900)	(16,927)	13,361
UNEP-WCMC	1,952	7,782	(11,764)	2,030	-
University College London	-	11,968	(11)	(11,957)	-
University of British Columbia	-	2,913	-	(99)	2,814
WestonbirtArboretum	-	588	(416)	(176)	(4)
Anthony Hitchcock Fund	-	200	-	-	200
Global Botanic Garden Fund	54,277	65,424	(57,526)	(24,277)	37,898
Small Garden Sponsorship Fund	-	125	-	-	125
Sylvia Scholarship Fund	19,100	1,605	-	-	20,705
The Stanley Smith
Horticultural Trust	10,000	-	-	-	10,000
Tree Conservation Fund	-	400	-	-	400
	242,156	1,717,274	(970,824)	(655,254)	333,352
Unrestricted funds
General Fund	404,310	301,988	-	(334,034)	-
Net gains on investments	-	-	-	10,853	383,117
Total	£646,466	£2,019,262	£(970,824)	£(978,435)	£716,469

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Botanic Gardens Conservation International (a company limited by guarantee) Notes forming part of the financial statements (continued)

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |17|Grants made for projects| |£| |Addis Ababa|University|Herbarium|21,466| |African|Forest|4,500| |Asociacién|Colombiana|de|Herbarios|7,500| |Asociacién|para|la|Ninez|y su|Ambiente|9,000| |Auroviile|Botanical Garden|9,000| |Bogor|Botanic|Garden|25,916| |Centre Suisse de Recherches Scientifiques|en Cote D'Ivoire|4,000| |CSIR ~ Forest|Research|institute|of Ghana|3,500| |Dr Cecilia|Koo|Botanic|Conservation|Centre|16,500| |Fijl|Nature|Conservation|Trust|20,000| |Forest|Research|Centre,|Sabah|Forestry|Department|6,250| |Fundacao|Flora|de|Apolo|a|Botanica|19,500| |Fundacion|Progressio|7,875| |Groupe|des|Specialistes|des|Plantes|Malgaches|14,103| |Guangxi|Institute|of|Botany|8,000| |Greens|Biodiversity|Sanctuary|10,000| |Hangzhou|Botanical|Garden|8,000| |Herbario|Nacional|de|Bolivia|6,000| |Hunan|Forest|Botanical|Garden|8,000| |IUCN|SSC Madagascar|Plant|Specialist|Group|2,734| |Jardim|Botanico|Arariba|9,000| |Jardin|Botdnico|Carlos|Thays|7,235| |Kew|Madagascar|Conservation|Centre|17,094| |Kilifi|Tree|Nursery|3,000| |Kivukoni|indigenous Tree|Nursery|500| |Kurdistan|Botanical|Foundation|10,659| |Les|Cayes|Botanic|Garden|9,000| |Lincoln|University|1,031| |Lopez Group|Foundation|Inc.|2,000| |Makerere|University|8,500| |Maastricht|University|3,000| |Mauritian|Wildlife|Foundation|15,000| |Missouri|Botanical|Garden,|Madagascar|13,190| |Mulanje|Mountain|Conservation|Trust|71,713| |National|Authority for|Preah|Vihear|19,124| |National|Chiayi|University|1,000| |Papua|New|Guinea|Forest|Research|Institute|21,424| |Pha Tad|Ke|Botanical Gardens|10,000| |Provita|ONG|9,106| |Qinling|National|Botanical|Garden|8,000| |Queen|Sirikit Botanical Garden|10,000| |Sabah|Parks|6,000| |Samoa|Conservation|Soclety|9,000| |Sanya|Academy|8,305| |Shenyang Arboretum|8,000| |Sichuan|Provincial Academy|of|Natural|Resource|Sciences,|Chengdu|8,000| |South|China|Botanic Garden|30,662| |Southern|Institute|of Ecology|9,000| |Southwest|Forestry|University|8,000| |Talca|University|16,000| |Tanzanla|Forest|Service|5,499| |The|Council|of Heads|of Australian|Botanic Gardens|10,000| |The|Morton Arboretum|25,200| |Tooro Botanical Gardens|110,044| |Traffic|International|3,055| |Universitat Wien|1,000| |University|of Antananarivo|4,542|

----- End of picture text -----

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18 Analysis of net assets between funds

Botanic Gardens Conservation International (a company limited by guarantee)

Notes forming part of the financial statements (continued)

UniversityofNorth Carolina	"3,000
Wuhan Botanical Garden	8,000
Zhejiang ForestAcademy	8,000
Zhoushan Academyof Forestry	8,000
Awardsfrom the Global Botanic Garden Fund	57,305
Awards lessthan £1,000	8,846
	£816,878

	Unrestricted	Restricted	Total
	funds	funds	funds
	£	£	£
Tangible fixed assets	18,095	-	18,095
Fixed asset investments	224,074	-	224,071
Cash at bank and in hand	185,121	333,106	518,227
Other current assets	24,889	83,277	108,166
Current liabilities	(69,060)	(83,031)	(152,091)
Netassetsat31December2020	£383,117	£333,352	£716,469

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