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2021-07-31-accounts

Charity Registration No. 1110869 Company Registration No. 05460619

THE SOCIETY OF BOTANICAL ARTISTS LIMITED REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

THE SOCIETY OF BOTANICAL ARTISTS LIMITED

CONTENTS

Reference and Administrative Details 1
Trustees’ Annual Report 2 - 7
Independent Examiner’s Report 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Financial Statements 11 - 20

THE SOCIETY OF BOTANICAL ARTISTS LIMITED REFERENCE AND ADMINISTRATIVE DETAILS

PRINCIPAL ADDRESS 1 Knapp Cottages Wyke Road Gillingham Dorset SP8 4NQ REGISTERED OFFICE Verulam Point Station Way St Albans AL1 5HE TRUSTEES G S Cook (resigned 1 September 2021) A S Halsall (resigned 5 January 2021) L C Linder G L Sellwood (resigned 1 September 2021) S J Williams L S Doherty (appointed 13 November 2020) D P Marshall (appointed 13 November 2020) J R Patience (appointed 13 November 2020) C K Ward (appointed 13 November 2020)

COMPANY SECRETARY P Henderson PATRONS Professor Sir G Prance Dr S Sherwood Mr Monty Don BANKERS Lloyds Bank Yeovil Branch 9 High Street Yeovil BA20 1RN INDEPENDENT EXAMINER E E Irvine WMT Chartered Accountants Verulam Point Station Way St Albans AL1 5HE REGISTERED CHARITY 1110869 REGISTERED COMPANY 05460619 WEBSITE ADDRESS www.soc-botanical-artists.org

1

THE SOCIETY OF BOTANICAL ARTISTS LIMITED TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 JULY 2021

The Trustees submit their report together with the independently examined accounts of the Society for the year ended 31 July 2021. This report constitutes a Directors’ Report as required by the Companies Act 2006.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements, comply with the governing document, the Companies Act 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice (SORP 2[nd] Edition effective January 2019) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Society of Botanical Artists Limited is a company limited by guarantee and not having a share capital, incorporated in England and Wales on 23 May 2005 under Registration No 05460619.

The Society is also a charity registered in England and Wales, Registration No 1110869.

The Society is governed by its Memorandum and Articles of Association, as last amended in June 2020.

TRUSTEES

The following served as trustees for all or part of the year ended 31 July 2021.

G L Sellwood S J Williams A S Halsall G S Cook L C Linder LS Doherty DP Marshall JR Patience CK Ward

All trustees are elected for three years and then they must retire but are eligible for re-election. There is a maximum term of three consecutive terms of 3 years, after which a trustee must step down except in exceptional circumstances.

Trustee induction and training

Potential trustees are usually co-opted for a year in the first instance prior to be appointed as a trustee. This is part of their induction and each person undergoes orientation to brief them on:

2

THE SOCIETY OF BOTANICAL ARTISTS LIMITED TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 JULY 2021

Subject to how this co-option works out, each individual is offered an appointment as a trustee for a threeyear period, the co-option period counting as the first year.

Organisation

The board of trustees administers the charity. The board meets periodically, around four times per year. The board works on an on-going basis via e-mail, telephone and ad-hoc meetings to ensure the charity is managed effectively and efficiently throughout the year and to ensure it delivers its corporate governance responsibilities. Whilst it was hoped to have sub-committees in place, instead it was decided to keep the work with the whole trustee group as the majority of the work has been strategic - to refine the proposals to change the membership structure. Therefore, while it remains an idea to have sub-committees in place in due course this will not be until after the strategic work has been refined and implementation of that and new exhibiting arrangements have been put in place. This reflects the limited resources within the voluntary trustee group but does mean that the whole group is involved in all the work, which is ideal and necessary to the shorter-term strategy of the Society.

Day to day tasks are performed by the Executive Secretary and other tasks of management and leadership are performed by various members of the team of trustees, led by the Co-Presidents, and the Director of the Distance Learning Diploma Course (‘DLDC’). Further paid administration or management support has been funded. Going forwards the executive role will be subsumed within a new manager role. The current incumbent will move to spend about 80 to 90% of her time on DLDC work, as well as some accounting and record keeping pro tem.

OBJECTIVES AND ACTIVITIES

The purposes of the charity are:

The annual activities remain the promotion and fostering of knowledge and appreciation of the fine art of botanical painting or any allied arts by the provision of education. It is also clear that an overarching purpose of the Society is to be the professional body relating to the activity of Botanical Art. In this respect the Society assesses the work of applicants for the status of Fellow Membership, and that membership is awarded as a qualification, subject to the quality of the applicant’s work and his or her standing in and contribution to the work of botanical art.

3

THE SOCIETY OF BOTANICAL ARTISTS LIMITED TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 JULY 2021

ACHIEVEMENTS AND PERFORMANCE

During the year it was not possible to hold the open exhibition Plantae 2021 at the Mall Galleries, as planned. This was solely because of the global coronavirus pandemic which became a major issue in early March 2020 in the UK. As the 2020 Plantae Exhibition had been successfully moved online in 2020, it was decided that the exhibition would again be held online for Members only, with no submission fee or commission on sold works. A separate Gallery within the exhibition was created for Diploma Course Student work.

As previously, the support to professional fellow members of the society, as a professional body, has continued to be provided at a high standard. This includes circulating a number of opportunities to fellows, extensive communications and development ideas and a number of digital and print publications in our modern format.

Costs for the 2021 digital exhibition were covered from SBA reserves, with additional costs for the DLDC Student Gallery paid by the DLDC. A beautiful catalogue covering almost all the member’s works exhibited online was produced and circulated to Members.

We anticipate that the 2022 Plantae exhibition will be held again at the Mall Galleries. A digital exhibition planned for later in 2023 may become an annual event, in part to support overseas members who may have difficulty sending framed work into the UK after Brexit conditions, and the requirement to register for VAT.

Distance learning diploma course 16 completed and graduated after some delays due to the pandemic in September 2021. Enrolment on course 19 in January 2022 was very acceptable; courses 17 and 18 were still in progress at the end of the financial year and student feedback remains good. The make-up of student applicants is predominantly from individuals for whom English is not their first language, based overseas. It is obviously a major endorsement of the course that there is a worldwide following and desire to participate. However, this also provides additional workload and complexity as quite often interactions with students are very time consuming, compared to those when the course was started nearly twenty years ago.

The co-presidents ended their term of office in summer 2021; the leadership was handed over to three members of council (who are all DLDC graduates) to act as joint Presidents.

In addition, support and guidance has been provided from the Society’s Accountant to reinforce the responsibilities of Trustees and Presidents, and also to undertake a comprehensive risk analysis to safeguard the future of the Society.

FINANCIAL REVIEW

Income generation

The Society's income for the year shows a decrease in net income over expenditure, which is due in large part to reduced income from donations in the current year and increased expenditure on charitable activities.

4

THE SOCIETY OF BOTANICAL ARTISTS LIMITED

TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 JULY 2021

The Society's main sources of income were from: membership subscriptions; a small gift-aided donation from Botanical Enterprises Limited and the fees for the Distance Learning Diploma Course.

The surplus made from the Distance Learning Diploma Course is only used to finance the continuation and improvement of the courses and support other educational activities. Income from the Distance Learning Diploma Course is not used to support other activates of the charity.

The charity's wholly owned trading subsidiary, Botanical Enterprises Limited, generated a profit of £2,172 (2020: £4,089) which was gift aided to the Society.

Investment policy

The Society has continued to adopt a risk-free investment policy. Funds not required in the short term are held on instant access deposit with the bankers.

Resources expended

During the year there has been expenditure on the further changes to the Society's website. This will be an ongoing area of expenditure, as the website continues to represent the Society, both to members and students, as well as to the wider world. The website is the platform through which the Society gives information and also actions much if its work, from membership information, to database management and the digital application process for new Fellow members. In many respects the website is the public face of the Society, and so the importance of maintaining the website cannot be underestimated. It is expected that costs of website provision and maintenance will rise in coming years as this area becomes even more critical to the functionality of the Society.

The charity depends heavily on volunteer help, almost exclusively from Council members, as well as from a very small range of skilled Fellow members. This is headed by the Council, which consist wholly of trustees and co-optees. There are no employees: any goods and services which members are not able to provide are paid for. The administration and book-keeping for the general activities and the Distance Learning Diploma Courses is carried out on a fee-paying basis by an Executive Secretary who also acts as the Company Secretary currently. Additional areas of professional support includes website design, back office (web) support, accounting, VAT advice, publication design and printing to name but a few of the areas which must be paid for and bought in.

Given the workload around the administration of the DLDC, it was decided to appoint a paid Office Manager, and with the agreement of the Council, the Office Manager was appointed in March 2021. In essence this role is about supporting the timetable of activities and initiating the tasks relating to those, as well as supporting the membership.

The Society has migrated email and online files to Microsoft platforms (Outlook, Office and Sharepoint), book-keeping to Xero and added additional payment authorisers to the Society’s Bank accounts.

Reserves policy

The trustees have reviewed the reserves of the Society, following a discussion with Elizabeth Irvine of WMT. The review covered the nature of the income and expenditure streams, the need to match variable income with fixed commitments, and the nature of the reserves. The trustees concluded that the present level of unrestricted funds should be maintained to ensure the continued aims of the charity. The following was adopted as a reserves policy at the virtual AGM held in August 2020

That no activity be undertaken unless it can be supported by the financial reserves (in the dire event that the method of recouping any outlay on that activity was negated by unforeseen circumstances, such as

5

THE SOCIETY OF BOTANICAL ARTISTS LIMITED TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 JULY 2021

Covid-19). This does not necessarily mean that all activities must be self-supporting, but that the trustees are explicitly aware of their responsibility that all costs may have to be covered if there is no revenue, and when ‘cross-subsidisation’ from other income may have to be applied. In effect this means that the trustees must check the financial situation of the Society every time there is a commitment to an activity – such as an exhibition – and can only proceed with that plan if there are sufficient funds to cover ALL the costs associated with that activity. Equally, the trustees will not seek to accumulate funds that are greatly in excess of the anticipated needs of the Society going forwards, or such as are needed to execute the plans of the Society, in accordance with any strategy agreed by the trustees.

The trustees continue to maintain that funds relating to the Distance Learning Diploma Courses should remain as designated funds. As at the 31 July 2021 the designated funds relating to the Distance Learning - Diploma Courses amounted to £158,470 (2020 £153,423). The purpose of the funds are to supply and facilitate education and are reinvested for the purpose of long term benefit and development of the diploma courses.

Management Letter

The trustees note the content of the 2020 management letter in which it was suggested that there was insufficient allocation of costs against the DLDC-related activity. This is due totally to the complexity of DLDC management and delivery. The trustees have been advised that the DLDC does not adequately bear its costs and therefore there is currently an element of cross subsidy taking place from within by the SBA general fund. It is also proposed that the DLDC fund is building an inappropriate level of reserves and that a strategic plan for the use of this allocated reserve needs to be developed in the next financial year.

Several opportunites were taken in 2021 to utilise DLDC funds appropriately to support educational activities such as the costs of adding a DLDC Students’ Gallery to the Online Plantae exhibition in 2021, and the costs of publishing and distributing the Plantae catalogue to members.

Speaker and venue fees for a series of educational talks and visits will also be covered through DLDC funds.

The Council has requested the Course Director to investigate options to evaluate and reformulate the current DLDC format. This could be to support a Foundation programme, a digital programme of learning or professional artists development. It is not expected that this work could be supported by the current paid individuals. This would therefore require additional paid support to develop and deliver any new programmes of learning.

Risk management

The trustees are responsible for the overseeing of the risks faced by the Society. Detailed considerations of risk are delegated to the trustees. Risks are identified, assessed and controls established throughout the year. A formal review of the charity's risk management processes is undertaken periodically.

Risk is managed under the headings of financial sustainability, health and safety of volunteers, artists and visitors to the exhibitions. Through the risk management processes established for the Society, the trustees are satisfied that the major risk identified have been adequately mitigated where necessary. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.

6

THE SOCIETY OF BOTANICAL ARTISTS LIMITED TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 JULY 2021

COVID-19

The Covid-19 pandemic continues to have a huge impact across the globe and the Society is no exception with various income streams and exhibitions being subject to significant disruption.

PLANS FOR FUTURE PERIODS

The Society continues to advance the education of the public by promoting the fine art of botanical painting by providing facilities for education, exhibition of works, and promoting the protection, appreciation, conservation and nurture of plants and natural habitats of plant life with special reference to endangered species.

Communication with Fellow Members has increased again with the use of a paid Mailchimp account. This will continue, and alongside social media (Facebook and Instagram) and the Society’s website there is now a vast range of information and guidance available to Fellow Members and to the wider public as well. For example, there is now a link to a YouTube channel. These forums will continue to be developed and the website will be continually reviewed to ensure that it functions as well as possible and is reflective of the Society. The Council recognises that these platforms contribute to and form the organisation culture of the Society.

Opportunities for artist development through exhibition and sales of artwork and other related items will be actively pursued by the trustees. Such exhibitions are planned to be held in the future at appropriate venues. There will be further opportunities for continuing professional artist development as the Society rolls out a modest programme of activities; opportunities for paid teaching and paid commissions for Fellow members will be referred on to appropriately qualified members.

In addition, the Society propose to offer members a schedule of online talks on relevant topics including professional development, botanical themes and new techniques and materials. In addition, the Society is investigating educational group visits to museums, exhibitions, botanical gardens etc. where possible. Several talks and a visit have been arranged for 2022.

PUBLIC BENEFIT

The trustees have complied with the duty in s17 of the Charities Act 2011 to have due regard to the public benefit guidance issued by the Charity Commission.

;

Details of activities undertaken to fulfil the public benefit requirement are noted throughout this report.

Small company exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small company’s exemption.

Thesignedtrustees'on behalfannualof thereportboard(incorporatingof trustees by:the directors' report) was approved on IZAWEZ.. and

Director and Trustee

7

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE SOCIETY OF BOTANICAL ARTISTS LIMITED

I report to the trustees (who are also Directors for the purpose of company law) on my examination of the financial statements of The Society of Botanical Artists Limited (‘the charitable company’) for the year ended 31 July 2021 which comprise the Statement of Financial Activities, the Balance Sheet and related notes.

This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the trustees of the charitable company, you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the financial statements of the charitable company are not required to be audited under Part 16 of the Act and are eligible for independent examination, I report in respect of my examination of the charitable company’s financial statements carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’) and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, I express no opinion as to whether the financial statements present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

E E Irvine FCA WMT Chartered Accountants Verulam Point Station Way St Albans AL1 5HE

Dated ……………………15 April 2022

8

THE SOCIETY OF BOTANICAL ARTISTS LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME & EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY 2021

Notes Unrestricted
Funds
2021
£
Restricted
Funds
2021
£
Total
Funds
2021
£
Total
Funds
2020
£
Income and endowments from:
Donations and legacies 2,217
-
2,217
16,326
Charitable activities: 189,733
-
189,733
190,312
Investments 76
-
76
206
Other 299
-
299
494
Total
3		 192,325
-
192,325
207,338
Expenditure on:

Charitable activities		 (175,094)
(250)
(175,344)
(140,044)
Total
4		 (175,094)
(250)
(175,344)
(140,044)
Net income 17,231
(250)
16,981
67,294
Net movement in funds 17,231
(250)
16,981
67,294
Reconciliation of funds
Total funds brought forward		 276,901
5,000
281,901
214,607
Total funds carried forward 294,132
4,750
298,882
281,901

9

THE SOCIETY OF BOTANICAL ARTISTS LIMITED

BALANCE SHEET AS AT 31 JULY 2021

2021 2020
Notes £ £
FIXED ASSETS ;
Intangible and tangible 7 7,674 -
assets
Investments 8 1 1
7,675 1
CURRENT ASSETS
Stocks 9 400 800
Debtors 10 51,154 60,673
Cash at bank and in hand 452,573 407,449
504,127 468,922
CREDITORS: amounts
falling due within one year 11 (212,920) (187,022)
Net current assets 291,207 281,900
Total assets less
current liabilities 298 882 281,901
NETASSETS 298,882 281,901
REPRESENTED BY:
Unrestricted funds 12 294,132 276,901
Restricted funds 13 4,750 5,000
298,882 281,901

The directors and trustees consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and no notice | requiring an audit has been deposited under section 476 of the Act. The directors and trustees acknowledge | their responsibilities for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.

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

The financial statements were approved by the Board on Awd... and signed on its behalf.

Trustee Company registration no. 05460619 Charity registration no. 1110869

10

THE SOCIETY OF BOTANICAL ARTISTS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

1. ACCOUNTING POLICIES

a) Basis of preparation

The society meets the definition of a public benefit entity under FRS 102. The financial statements have been prepared under the historical cost convention, in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland (FRS 102) (Second Edition) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Companies Act 2006.

The preparation of financial statements in compliance with SORP 2015 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the accounting policies (see note 2).

The financial statements relate to the society as an individual entity. The society and its subsidiary comprise a small group and therefore advantage has been taken of the exemptions in Section 139 of the Charities Act 2011 not to prepare consolidated financial statements.

The following principal accounting policies have been applied:

b) Going concern

The Trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.

c) Tangible and intangible fixed assets

Tangible and intangible fixed assets are capitalised in the accounts and stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives: -

Memorial recognition awards - 25% straight line Computer software – 25% straight line

d) Stock

Stocks have been included at the lower of cost or net realisable value.

e) Valuation of Investments

Unlisted investments are initially recorded at cost, and subsequently carried at fair value.

f) Debtors

Short term debtors are measured at transaction price, less any impairment losses.

g) Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand and demand deposits with banks.

11

THE SOCIETY OF BOTANICAL ARTISTS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

h) Financial Instruments

The Charity only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as debtors and creditors.

Financial instruments are initially measured at transaction value. They are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the SoFA.

i) Short term creditors

Short term creditors are measured at the transaction price.

j) Functional currency

The financial statements are presented in Sterling, which is also the functional currency of the Society.

k) Incoming resources

All incoming resources are included in the Statement of Financial Activities when the charity is entitled to the income, it is probable that it will be received and the amount can be quantified with reasonable accuracy. All income is gross without deduction for related expenditure. The following specific policies are applied to particular categories of income:

l) Resources expended Expenditure is recognised on an accruals basis as liabilities are incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it related:

12

THE SOCIETY OF BOTANICAL ARTISTS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

m) Funds

Unrestricted funds are funds which the trustees are free to use for any purpose in furtherance of the charity’s objectives. Unrestricted funds include gains and losses from the restatement of investment assets at market values.

Designated funds are funds which are unrestricted but are designated for a specific purpose.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor or through the terms of an appeal.

2. JUDGMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. The nature of estimation means the actual outcomes could differ from those estimates

There are no key sources of estimation uncertainty that could have a material impact on the financial statements.

13

THE SOCIETY OF BOTANICAL ARTISTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

3.
INCOMING RESOURCES
a) Donations
Restricted
Unrestricted
From Botanical Enterprises Limited (note 6)
b) Charitable activities
DLDC fees
Submissions fees
Subscriptions – members and associates
Subscriptions - students
Subscriptions – open members
Fellowship applications
Madrid exhibition
c) Investment
Interest receivable
d) Other
Royalties
Commission
Licensing agreement
Total		 2021
2020
£
£
-
5,000
45
1,734
2,172
9,592
2,217
16,326
148,210
124,544
-
15,078
25,676
24,162
8,708
9,324
4,536
16,476
675
728
964
-
189,733
190,312
76
206
51
266
143
150
105
78
299
494
192,325
207,338

All income in 2020 was unrestricted except for a restricted donation of £5,000.

14

THE SOCIETY OF BOTANICAL ARTISTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

4.
RESOURCES EXPENDED
Charitable activities
Exhibitions
DLDC expenses
Support costs
Governance costs
Support costs
General office
Insurance
Bookkeeping and related service
Consultancy fees
Bank and credit card charges
Depreciation
Governance costs
Accountancy and independent
examination
Trustee expenses
Support and governance costs
allocated to DLDC		 Unrestricted
£
3,363
114,727
50,776
6,228
175,094
32,389
1,951
10,502
1,357
2,019
2,558
50,776
3,000
3,228
6,228
29,186		 Restricted
£
-
250
-
-
250
-
-
-
-
-
-
-
-
-
-
-		 Total
2021
£
3,363
114,977
50,776
6,228
175,344
32,389
1,951
10,502
1,357
2,019
2,558
50,776
3,000
3,288
6,228
29,186		 2020
£
3,348
82,527
50,470
3,699
140,044
35,598
1,820
7,390
4,369
1,043
250
50,470
3,000
699
3,699
18,861

All expenditure in 2020 was unrestricted.

5. EMPLOYEES

The Society has no employees

6. TRUSTEE REMUNERATION, EXPENSES AND RELATED PARTY TRANSACTIONS

During the year 3 (2020: 3) Trustees were reimbursed for expenses amounting to £3,228 (2020: £699). The expenses incurred by the trustees were for facebook management, postage, phones, stationery and storage.

During the year the charity paid fees to Simon J Williams, L S Doherty, C K Ward and A S Halsall, as permitted under the charity’s governing documents.

15

THE SOCIETY OF BOTANICAL ARTISTS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

The fees paid to Simon J Williams were in relation to services supplied to the charity as the Course Director of the Distance Learning Diploma Course. The total amount paid for the year was £30,581 (2020: £22,271). The total amount is made up of £21,366 (2020: £18,247) for management of the Distance Learning Diploma Course, £7,547 (2020: £2,672) for services as tutor and £1,668 (2020: £1352) for reimbursement of expenses.

The fees paid to A S Halsall were in relation to membership secretary duties. The total amount paid for the year was £400 (2020: £1,440).

The fees paid to L S Doherty and C K Ward were for services as tutors. The total amount paid for the year was £417 (2020: £nil).

The Society’s subsidiary Botanical Enterprises Limited (BEL) gift aided its profits in the year of £2,172 (2020: £4,089) to the Society in accordance with the deed of covenant signed on 21 February 2020. As the covenant was not in place as at 31 July 2019, BEL’s profits paid under gift aid for 2019 of £5,503 could not be recognised by the charity until they were received in March 2020. The total income for profits paid under gift aid recognised in income this year was therefore £2,172 (2020: £9,592).

7. INTANGIBLE AND TANGIBLE FIXED ASSETS

Tangible Intangible
assets: assets:
Memorial Computer
recognition software
awards Total
£ £ £
COST:
Brought forward 1,000 - 1,000
Additions - 10,232 10,232
______ ______ ______
Carried forward 1,000 10,232 11,232
______ ______ ______
DEPRECIATION:
Brought forward 1,000 - 1,000
Charge in the year - 2,558 2,558
_____ ______ ______
Carried forward 1,000 2,558 3,558
______ ______ ______
NET BOOK VALUE:
At 31 July 2021 - 7,674 7,674
______ ______ ______
At 31 July 2020 - - -
______ ______ ______

All assets are used in the direct charitable activities of the company.

16

THE SOCIETY OF BOTANICAL ARTISTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

8. INVESTMENTS

Shares in
group
undertakings
£
Cost brought forward and carried forward
1
The society owns 100% of the issued share capital of Botanical Enterprises Limited, a company
incorporated in England and Wales whose registered office is at Verulam Point, Station Way, St
Albans, AL1 5HE. Its principal activity is the sale of botanical art related goods.
Summary of its financial performance
2021
£
2020
£
Turnover
9,474
10,991
Expenditure
(6,067)
(6,902)
Net profit
2,172
4,089
Amount gift aided to the society
(2,172)
(4,089)
Retained
-
-
Current assets
7,462
5,290
Current liabilities
(7,461)
(5,289)
Net assets
1
1
Represented by
Share capital
1
1
9.
STOCKS
2021
£
2020
£
Raw materials and consumables
400
800
______		 Shares in
group
undertakings
£
Cost brought forward and carried forward
1
The society owns 100% of the issued share capital of Botanical Enterprises Limited, a company
incorporated in England and Wales whose registered office is at Verulam Point, Station Way, St
Albans, AL1 5HE. Its principal activity is the sale of botanical art related goods.
Summary of its financial performance
2021
£
2020
£
Turnover
9,474
10,991
Expenditure
(6,067)
(6,902)
Net profit
2,172
4,089
Amount gift aided to the society
(2,172)
(4,089)
Retained
-
-
Current assets
7,462
5,290
Current liabilities
(7,461)
(5,289)
Net assets
1
1
Represented by
Share capital
1
1
9.
STOCKS
2021
£
2020
£
Raw materials and consumables
400
800
______		 Shares in
group
undertakings
£
Cost brought forward and carried forward
1
The society owns 100% of the issued share capital of Botanical Enterprises Limited, a company
incorporated in England and Wales whose registered office is at Verulam Point, Station Way, St
Albans, AL1 5HE. Its principal activity is the sale of botanical art related goods.
Summary of its financial performance
2021
£
2020
£
Turnover
9,474
10,991
Expenditure
(6,067)
(6,902)
Net profit
2,172
4,089
Amount gift aided to the society
(2,172)
(4,089)
Retained
-
-
Current assets
7,462
5,290
Current liabilities
(7,461)
(5,289)
Net assets
1
1
Represented by
Share capital
1
1
9.
STOCKS
2021
£
2020
£
Raw materials and consumables
400
800
______		 Shares in
group
undertakings
£
1
2,172
4,089
(2,172)
(4,089)
-
-
7,462
5,290
(7,461)
(5,289)
1
1
1
1
2021
£
2020
£
400
800
______

17

THE SOCIETY OF BOTANICAL ARTISTS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

10. DEBTORS
Trade
Prepayments and accrued income
Amounts owed by group undertakings
Other debtors		 2021
£
2020
£
42,329
40,005
2,214
6,261
12,453
4,089
350
4,126
51,154
60,673

Prepayments and accrued income include a deposit of £nil (2020: £11,520) paid to Mall Galleries in relation to the cancelled 2020 exhibition.

The amounts owed to group undertakings includes a loan of £3,500 on which interest is charged at 3.5% per annum. This loan is repayable on demand.

11. CREDITORS
Amounts falling due within one year:
Trade creditors
Accruals and deferred income		 2021
£
2020
£
1,501
1,011
211,419
186,011
212,920
187,022

Accruals and deferred income include £203,097 (2020: £177,689) of deferred income. This relates to course fees paid in advance for the Distance Learning Diploma which are run over a three-year period.

Deferred income
At 1 August
Movement in the year
At 31 July		 2021
£
2020
£
177,689
164,514
25,408
13,175
203,097
177,689

18

THE SOCIETY OF BOTANICAL ARTISTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

12. UNRESTRICTED FUNDS

General funds
DLDC designated fund
Lucas memorial designated
fund
General funds
DLDC designated fund
Lucas memorial designated
fund		 At 1.8.20
£
Income
£
Expenditure
£
Net
Income
£
At
31.7.2021
£
121,888
43,115
(30,931)
12,184
134,072
153,423
149,210
(144,163)
5,047
158,470
1,590
-
-
-
1,590
276,901
192,325
(175,094)
17,231
294,132
At 1.8.19
£
Income
£
Expenditure
£
Net
Income
£
At
31.7.2020
£
82,751
77,794
(38,657)
39,137
121,888
130,266
124,544
(101,387)
23,157
153,423
1,590
-
-
-
1,590
214,607
202,338
(140,044)
62,294
276,901

The Distance Learning Diploma Courses (DLDC) designated fund arises from surpluses made in providing the DLDC courses and is used to finance the continuation and improvement of the diploma courses and support other educational activities.

The Lucas memorial designated fund was created to recognise contributions to the society.

The DLDC designated fund is made up of the fixed assets of £7,674 with the balance held within current assets.The other funds are held within current assets.

13. RESTRICTED FUNDS

People’s Choice Fund
People’s Choice Fund		 At 1.8.20
£
Income
£
Expenditure
£
At 31.7.2021
£
5,000
-
250
4,750
At 1.8.19
£
Income
£
Expenditure
£
At 31.7.2020
£
-
5,000
-
5,000

A new restricted fund was created in the previous year following a donation from Catherine Waterman. This fund is to be used to pay for an annual award, known as ‘The People’s Choice’.

This fund is held within current assets.

19

THE SOCIETY OF BOTANICAL ARTISTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

14. SHARE CAPITAL

The Society is a company limited by guarantee and has no share capital.

15. CONTROLLING PARTY

There is no controlling party in this or the prior year.

20