Reglslered number.. 07168674
Charlty number: 1134729
THE EAST MALLING TRUST
(A company Ilmlted by guarantee)
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
*ADIFTZZS*
2111212024
COMPANIES HOUSE
A19
#32

THE EAST MALLING TRUST
IA ¢ompany limited by guarantee)
CONTENTS
Page
Reference and administrative details'of the Company, its Trustees and advisers
Tru8t¢M' report
Independent auditoes report on the financial statsments
Consolldat•d •tat•ment of finan¢lal actlvltle8
16
Consolidated balance sheèt
17-18
Comp•ny b•lanc• sheet
Consolidated stst•ment of c•gh flows
19-20
2.1
Not•8 to the fin•nelal stst•ment8
22.37

THE EAST MALLING TRUST
(A Company limited by guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The Trustee5 present their annual reporl together wlth the audited finandal statements of the gTOUP and the
ompany for Ihe 1 April 2023 10 31 March 2024. The directors confim that the Annual Report and financial
slatemenls of Ihe company comply with the current slatulory requirements, Ihe requirements of Ihe companl$
goveming document and ihe provisions of the Statement of Recommended Practice ISORP). applicable lo
charities prepanng their accounts in accordance with the Financial Reporting Slandard applicable in the UK and
Republic of Ireland IFRS 102) {effeLlive 1 Jonuary 20151 as amended by Updale Bulletin 1 (effective 1 January
2015).
STRUCTURE. GOVERNANCE AND MANAGEMENT
L¢g¥l Structurn
The East Malling Twst (The Twsl) is a company limited by guarantee and a registered charity Ino 1134729).
The Trust was incorporated on 24 February 2010 and is govemed by ils Memorandum and Artides of
Association.
The Trust had. during the year, di￿¢11Y wholly owned subsidiary companies in East Malling Limited IEML),
wthich carries out commercial activities on the East Malling E818le, and Bradbourne House Limited (8HL is a
dormanl Gompanyl,
Company registered number
07168674
Charlty reg18t•red nufflber
1134729
RegIStere￿ oifice
Bradbouine House
East Malling
Wesl Malling
Kent
ME196DZ
Trustees
Dr O P Doubleday (Chaifman)
Miss Allis Beasley
Mr Kevin Altwood Ivictrchairl
Dr Jonathan Knight
Mr Tim Chambers
Dr Celia Caulcott
Mr Keith Newman
Mr Robert James
Page 1

THE EAST MALLING TRUST
(A company limited by guarantee)
TRUSTEES. REPORT {CONTINUEDI
FOR T￿E YEAR ENDED 31 MARCH 2024
Management
Control and direction of Ihe Trusi Is exeru8ed by the 808rd of Trustees who has adopted 8 comprehensive
inlernal govemance framework for the fulfilmenl of it5 charitable objectives, in which the responsibility is deady
allocated as follows..
Stralegic leadership through the Board of Trustees
Operalional iunning of the East Malling Estate and business aclivilies by the Director and senior staff
The day lo day management of ihe Chaiity 18 de18galed by the board lo the Executive and caTTie¢ out by Ms
Karyn Hood.
Company gecrntsry
KMHood
Tnjstee Effoctiv•n•*s
Following their appointment lo the board, each trustee is given a complete briefing on the Twsvs govemance
arrangemenls. objectives and aclivilies. A pack containing the Charity Governance code and the Charity
Commission Truslee guidance is a150 provided.
The Trustees are leading members of Ihe horticulture, research. business. political and academic sectors. New
TrLtstees Are eleded by agreement of the Board, so as lo mairblain a balance of relevanl experien￿ available lo
th8 board.
Trustee Board meetings are held to review the operations and strategy.
Charity Governanc• Cod•
The new Charity Govemance Code was publlshed in July 2017 wilh the support of the Charity Commission for
En9land 8nd Wales, The Code is a practical tool to help Iruslees achieve high slandards of govem8nce. Th
Code has seven basic principles.. organizational purpose. leader5hlp; integrlty., deci51on making, risk and control.
board effecliveness,. diversity: openness and accounlabiity. It sets out both core outcomes, and recommended
practices.
The Trustee5 and Management have reviewéd the Code and strongly support the seven p'rincrples. The Trust
have a written assessment lor Ihe code detailing each recommended practice. evidencing our compliance and
noting areas for improvement. Following last years full governance review. conducted by Furley Page and
improvements have been made to our govemance docurrienl. The review confirmed besl praciirA in most areas
and with the identified improvements rneels and exceeds the Charity Commi55i0n guidelines.
PROFESSIONAL ADVISERS
Independent auditor
Crowe U.K LLP. Medway Bridge House, 1-8 Fairmeadow, Maidstone. Kent, ME14 1JP
Bank•rn
Hande15banken. 4th Flix)r, Riverside House. 4046 Huh Street. Maidstone, Kenl. ME14 1JH
SolicStor•
Brachers. Sometheld House, 59 London Road, Maidslone, Ken( ME16 8JH
Page 2

THE EAST MALLING TRUST
IA company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
TRusfEES' RESPONSIBILITIES STATEMENT
The Trustees are responsible for preparing the Group strategic report. the Trustees, report and the financial
slalements in accordance wllh applicable law and UnÉled lfjngdom Accounting Standards (United Kingdom
Generally Accepted Accounling Practice).
Company law requires the Trustees lo prepare financial ststemenls for each financial year. Under company law
the Trustees must not approve the financial statements unless they are satisfied Ihal Ihey give a true and lair
view of the stale of affairs of Ihe trust and of the in￿Ming resources and application of resources, induding the
income and expenditure. of the group for Ihat period. In preparing these financial slalements, the direclorg are
required lo..
select suitable ac£ounting polici85 and then apply them consistently..
observe the wnethod5 and principles in Ihe Chanties SORP.,
make judgmenls and accounting estimates Ihal are reasonable and prudent;
prepare Ihe finanryal slalernenls on the going concem basis unless il is inappropriate to presume that the
group will continue In operation.
The Truslees are responsible for keeping adequate accounling records Ihat are sufficient to show and explain
the trusl'5 Ironsactions and disclose wilh reasonable accuracy at any time the financial position of the group and
enable Ihem to Ensure Ihal the fin8nryal slalemenls comply wilh Ihe Companie5 Act 2006. They are also
responsible for safeguarding the asse15 of the Irusl and hence for taking reasonable sleps for the prevention and
detection of fraud and other irregularities.
Oversight of remuneratlon
All siaff are covered by Ihe same remuneTation policy which is revlewed by exleinal benchmarking. The
remuneration policy is approved by the board and subject to periodic review. To ensure clear governance and
tTan5parency, the remuneration of the CEO is overseen by the Chair of the 8oard and Chair of the Finance and
General Purpose committee.
Rl•k Manag•ment
In response to the recommendations sel out in Ihe Financial Reporting Standard applicable in the UK and
Rewblic ol Ireland {FRS102), the Iru51ees consider the risk register on a regular basis. The Trustees review the
risks faced by The Trust and agree a programme to manage the identified risks.
The principle risks and uncertainties faced by The Trust are as follows..
Ability for The Tnjst's remaining trading subsidiary East Malling Limited to become profitable. Operations are
outsourced to third parties lo miligale this Nsk and East Malling Limiled in Ihe currenl year has generaled a profit.
Akm'lty of The Trust to generate trading surpluses al an adequate level which will enable it lo make significant
future grants lo NIAB and other horticuRural research charities and organisalions. Careful managernenl of the
Trust's property and business slrategy miligates this risk.
The Trustees do not consider that the risks listed 8t)ove or any other8 will Impact on 118 reserves in the
immediate fvture.
Page 3

THE EAST MALLING TRUST
IA company Ilmlted by guarantee
TRUSTEES. REPORT (CONTINUED
FOR THE YEAR ENDED 31 MARCH 2024
OBJECTIVES AND ACTIVITIES
The Trust's objectives as set out in the Memorandthi and Artic4es of Assocbation are
The advancement of suence for public benefrt, prlmarily through the support ol researth and
Fulfilling the duty of care to Bradboume House. a Grade 1 listed building induding its heritage and
The Truslees have agreed that the role of the Trust should be more broadly based Ihan adrnini$tralion of assels
and have defined The Trust's strategic objeGtive5 as follows."
The diss8mination ol lunds lor rese8￿h puwises
The allocalion of funds is generally fnade by the Board, largely in support ol research fof the benefil of the
perennial crops industry. During the year under teview supporl was directed to NIA8 an unrelated registered
charity to underpin their horticultural research projects and secuie the fU1u￿ of horticullur81 research in the UK.
m8inten8nce olrepulation
To mainlain ils repulatson of probity, good advice and involvement wrlh the concerned horticuliural industry,
academia and Ihe research sector through ils actions as 8 charity and Ihrough Ihe reputalions and 8bililies of rts
ndividual TTuslees.
Use ofinlluence
To use Ils slalus as a body and Ihal of Ils individual Tru51ees to highlight the natlonal and local Importance of
horticullural researth and it5 fiJnding. This will involve periodic 8nd strUctu￿d discussion5 wlh senior political
figures al nalional and county level e.g. Members ol the House ol Lord6, Ministers. Members of Parliament and
local govemmenl. It will also involve interactions wih others invofved at a senior level wilh researth policy,
fvndin9 and delivery, e.g. in the Research Councils.
Aclivili8s forlhe public good
To maintain B Portlolio of adlvilies that is seen lo be sustaining the horticultural industry in general and its
benefits to the community. heallh ond Ihe environment Ihrough the promotion and funding of horticultural
research.
Development olslralegic alh'ancas
To assist, through Ils stalus in the induslry, a￿deMiS and business, in the development of slralegic alliances
that might prove benefiGi81 lo horticultural research in general and specific organisgtions in p8rticul8r.
Ulijisalion of as'spls
To manage ils financial assets in line with the agreed Investment slralegy. To develop and ulilise its non finanaal
assets lo oplimise, in the longer tefm, the generation of funds to support horticultural research. To manage ils
property assels, taking a longer term view.
Page 4

THE EAST MALLING TRUST
(A company limited by guaranteel
TRUSTEES, REPORT (CONTINUED
FOR THE YEAR ENOED 31 MARCH 2024
Dislribulion ol grants genernlly
To make grants in fulfilment of its objectives to a level which, over the long lem. does not erode the assel base..
In the shorl term, this principle may be varied in specific circumstances. provided that a longer term recovery can
be foieseen.
Specific support for NIAB operatitms based 81 E8sl Malling
To assisl in the longer lem development of NIA8, an unrelated charily. This may be through provision of
additional funds for short term operational needs or proiects and ILtnding for longer term infraslwcturfj
improvernenl which benefit NIAB as tenants of the sile.11 may also indude the provision of speafic experiise and
advice from individual Trustee8 and speafic resources we are oble to provide. Such support does not exclude
support for research elsewhere.
The Trustees consider that The Trusl's objeclives are for the public benefit and that its activities, athievements
and performance are enlifely consislenl with ils objective$.
The key aclivities that arise from these 0￿.eCtiveS are..
Leth'ng and m8inlenance ol The Tmsl's property assels
The Trugt ensures that nel income from this aclivily is oplimised and Ih81 Ihe duties of care lo the lenanl$ and
the Grade 1 listed building, Bradboume House, are fulfilled. Oay lo day management of the property portfolio is
delegated to managing agenis, Savills. The overall objective Is lo maintain and develop a su51ainabl&
development plan for the es181e and lo ensure the eslale is well fflanaged lo m8inlain overall income,
appreciation levels and quality of assets.
ACHIEVEMENTS AND PERFORMANCE
The Trust makes grants e8¢h year lo various benefiuaries in the world ol horticullural research in line with ils
cuffenl charitable objeclives. The m8in beneficiary of gr•nl$ 8nd Support 1$ Ihe charity, NIAB.
During the year Ihe Trust worked in ¢ollaboralion with NIAB and in line with rts charitable objective, grants and
support co$1$ were awarded tolalling £686k. This was broken down into £125k support for the Wine Innovalion
Centre capital equipment. £200k Diredors award grant. E193k support for overheads on new glasshouses and
£168k rent gifted back.
The direclors granl is for 5 yoars has, and since inception on 31 Oclober 2021, covered funding shortlalls on 19
UKRI projecls. 11 has also helped fund early career researchers.
UKRI data shows Ihat Ihe Tru51 funding has leveraged more Ihèn £11.7m ol granl funding in research al the
East Malling sile. Through this funding the Trusl supported 43 grower and commercial company partner
inleraclion5. Since 2022, highligh15 of Ihe research from NIA8 scienlisls have been shared wilh growers and the
fruit supply Chain through 36 trade press artides and 14 Pfess releases 8$ shown below.
Page 5

THE EAST MALUNG TRUST
IA Company Ilmlted by guarant￿)
TRUSTEES. REPORT ICONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
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Page 6

THE EAST MALLING TRUST
{A company limited by guarantee)
TRUSTEES. REPORT {CONTINUEOI
FOR THE YEAR ENDED 31 MARCH 2024
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Page 7

THE EAST MALLING TRUST
(A company Ilmited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
We are pleased to Teport that the £6.7m ring fenced funds. used lor the construction of glasshouses. new
laboralories, and offices Completed in June 2022 are fully operational and Ihe Wine Innovation Centre has been
provided wilh the capital equipment. Aside from financial support. Ihe trust worked closely with NIA8
management on joint initiatives providing lirne, support and ￿$OurCes. NIA8 Ltd is a division of NIA8 Trust. The
Trust engages with NIAB Limited and NIAB Trust lo discuss and formulate future plans lo ensure we deliver the
best support to the science carried out on sile.
Oelails of the activities of NIAB can be found on their websile at wMv.niab.com.
The Trust has also made available ils facilities lo local charitable and community groups lo enable and support
Ihem with their fund raising activities. This has induded. The Larkfield Run. Land is provided on a nominal rent lo
a local charity Comrnunigrow. This project enables local schools, vulnerable groups and communty members to
leam lo grow produce and sell lo¢ally.
The Trust has a colledion of historical materials relating to Bradboume House and the History of East Malling
Research. Investment has been made and 1$ ongoing to collale and archive this material wrth the purpose of
preseprfing the history and enabling public access eilher through the public tour5 run OT through our webslte.
The Trust'5 income 15 derived in part from ils own resources in terms of property and previously financial
investments bul also through the operation ol ils commercial subsidiary. East Malling Lirnited.
During Ihe year. East Malling Limited cont￿ued lo outsource the events and G41ering business lo Baxter Storey.
The performance of The Trust's current diredly held Gubsidiary companie$, Ihe results of whi¢h are included in
Ihe consolidated report, are del8ile¢J below..
Ea•1 M•llSng Llmlt•d
The Companvs prin￿PaI activities during the year under review were the operation of the Events and Catering
business.
Eagl Malling Limited made a profil for the year before and after lax of £20,412 {2022123 - £31,740) and a grft aid
payment to The Trust was not possible due to accumulated previous losses (2022r23 NIL).
At 31 March 2024 East Malling Limlled had nel Ilabililies of £131.032 and has a letter of support from The Trust
(2022123 - £151.444).
vents & Catering
For the perfod under review, operations inojme did nol exceed Ihe contracted minimurn guarantee commi55ion
Payment. The weddings have not bounced back fully bul continued improvemenl will be shown in the upcoming
rinanc4al year.
Bradboume Hou80 LSmlted
Bradbourne House Limited is a dormant company.
At 31 March 2024 shareholders funds were £10.0001202212& £10,000).
Page 8

THE EAST MALLING TRUST
IA company limited by guarantee)
TRUSTEES, REPORT {CONTINUEO)
FOR THE YEAR ENDED 31 MARCH 2024
FUTURE DEVELOPMENTS
The Trust is working dosely with NIAB io f3alilale ihe achievemenl of their research business plan and io
achieve a higher profile for the importance of horticultural research.
C>ver the next year The Trust will continue irnplemenling and developing 11$ property and business strategy lo
ensure il maximises ils return on assets (bolh revenue and capilall lo enable il lo continue to fulfil ils charrtable
objectives.
Land, surplus to research requirements, was idenllfled on the estale for housing in line with the TM8C local plan
process. A sile, SUTpIu5 to research requirements, is in the proress of assessment and a planning submission
ha$ been submitted during the year 2024-2025 wilh a View lo bnnging forward in 202512026. Any capital receipls
likety will be reinvested into The Trusts assets. This wll include developmenl of new scientific facilib"es,
upgrading of sile infrastructure and considered investment to produce an ongoing Income for charitable
acts"vilies.
GOING CONCERN
Accounting standards require Ihe Truslees lo consider the approprialeness of the going concern basis when
preparing the financial slalements.
The Truslees have given due consideration lo the current economic dimale and the effect on The Easl Malling
Trust. They have reviewed 8udgets and Cash flow and are satisfied that il will not affect the ability of the Trust to
continue in operation81 exijlence for the foreseeable fulure. Thus they continue to 8dopl the going concern bo81#
of accounting in preparing the annual financial 5talemenls.
FINANCIAL REVIEW
Regults
The principal accounlng policies adopted for the period are detailed in note 110 the accounts. The fesufts and
reserves of each subsidiary are given in the achievemen15 and performance seclion of this report.
In the yeaT. the total consolidated incoming resources of £3.317,477 {202212023- £2,665,308) was exceeded by
lolal consolidated expenditure of £3.399.962 (202212023- £2,960,768) by £82.485 {2022123 - £295.460).
Nel cash inllow dunng the year was £5.551,366 (2022Q023 - oufflow of £8,913,212). The nel cash at 31 March
2024 was £17,460.3201202212> £11,908,954).
Page 9

THE EAST MALLING TRUST
IA eompany limited by guarantee)
TRUSTEES, REPORT ICONllNUED)
FOR THE YEAR ENDED 31 MARCH 2024
RESERVES POLICY
The Truslees set the level of reseNes so as lo prolecl againsl unanlicipated drops in incfjme and to 8111)w Thè
Trust some flexibility to lake advantage of new unforeseen opportunilies. In order to meel this policy the Trustees
conduded Ihai they require free reserves equivalenl to three lo twelve monlhs of forecast operating expenses.
Based on current strategy and forecasts in the short to medium temi the Group is unlikely lo generate a
significant inuease in reseryes from operations. Additional free reserrfes posi 31 March 2024 will only be
realised from a56el 5?les and exceptional items. The majorily of the Group'¥ revenue is derived from lettin9 of
propety on the East Malling sile. In Setting the level of free fe$errfes required the Trustees considered the
following:
Income
Loss of ren181 Income from 8 large tenBnl or several lehants. The loss of rent81 Income from a business
inlerrupbon event is insured. Thls 1055 would only maleriali5e if a malor lenanl's bu5ine55 lalled.. a nurnber of
tenants wilh short nokn'ce periods vacated their properties al the same lime or major repairs were required which
nece55italed vacation of properties.
Contingent costs
Legal and professional fees or e8pi181 purchases required to lake advantage of unforeseen opportunities to
enhance the property or business portlolio and increase ils lulure value.
Unplanned capital expendrture for a major repair or replacement Ihal w8$ not viable to fund via loan finance.
Granl commitments
As at 31 March 2024 the Consolidated group reserves were £75.967.663 (2022r2023 - £74,619.478) of which,
free reseples were £32,832,386 12022123 . £38,755,028) equivalent to 10 years operating expenses for the
newty structured operalions (2022123 - 13 years). Th¢ Ire¢ reserves represent total resefves les8 Ihe value of
tangible fixed assets and investment properties.
INFORMATION ON FUNDRAISING PRACTICES
All the Trust's income 15 derived from management of its a8sets."The chanty does not raise any funds from direct
lundraislng.
DISCLOSURE OF INFORMATION TO AUDITOR
Each ol the persons who are Tfv51ees èt the lime when this Tru51ee8' report is approved ha5 confirmed Ihal..
so far as that Iruslee is aware, there is no relevant audit infomiation of which the group's audrtor is
unaware. and
that Iruslee has taken 811 the steps thal ought lo have been taken as a Irustee in order lo be awafe of any
infonTralion needed by the group's avdrtor in connection Wbth preparing this report and to establish that
the group'5 auditor is aware of thal information.
Page 10

rHE EAST MALLING TRUST
(A ¢omp4ny Ilmlt¢¢ by guaranleo)
TRUSTEES. REPUKT ICONTINUEDI .
FOR THE YEAR ENOEO 31 MARCH 2024
AUDITOR
The auditors, Crowe U.K. LLP, will. be o'roposed for reakpointrnenl in accordan'ce with sedion 485 of the
Companies Act 2006.
Approved by order ol the members of the board of TTuslee5 on
NJsMs4
&ry94
and signed on their.b'ehalf by..
Page11

THE EAST MALLING TRUST
IA company limited by guarantee)
INDEPENDENT AUOITOR'S REPORT TO THE MEMBERS OF THE EAST MALLING TRUST
Op5nlon
We have audited the financial statements of The E8sI Malling Trusl Ilhe 'parent charitsble companrf) and ils
subsidiaries {Ihe 'group') for the year ended 31 March 2024 which comprise the Consolidated slalemenl of
financial aclivilies, the Consolidated balance sheet. the Company balance sheet. Ihe Consolidated slalemenl of
cash flows and the related notes, including a summary o15ignrficant accounting policies. The finan￿al reporting
framework that has been applied in their preparation 1$ applieable law and United Kingdom Accounting
Slandards, induding Financial Reporting Slandard 102 The Financial Reporting Standard applicable in Ihe UK
and Republic of Ireland, {Uniled Kingdom Generally Accepted Aexounling Practice>.
In our opinion the financial statements..
give a true and fair view of the stale of the Group's and of the parent charitable companys affairs as al 31
March 2024 and of Ihe Group's incoming resources and application of resources. induding its income and
expenditure for Ihe year then ended,,
have been properly p￿pared in accordance wth Unrted Kingdom Generally Accepted Accounling
Practice". and
have been prepared in ac£ord8nce wllh Ihe requirements of the Companie8 Act 2006.
8asl8 for opinion
We conducted our audit in accordance with Inlemallonal Standards on Auditing (UK) IISAS (UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit
of the financial stalemenls seclion of our report. We are independent of the Group in accordance wilh the ethical
requirements that are relevant to our audit of ihe financial slalements in the United Kingdom, induding the
Flnancial Reporting Council's Ethical Standard. and we have fulfilled our other ethical responsibilities in
accordance with these requirements. We believe Ihal the audil evidence we have oblained i• suffithent and
appropriate to provide a basis for our opinion.
Con¢lu•lonJ relatlng to golng concern
In auditing the Ilnancial 818tements, wt have conGluded th81 Ihe Trustèes, use of the going concem basis of
accounting in the preparatlon of the financial Statements is appropri81e.
8ased on the work we have perfomed, we have not identified any malerial uncertainties relaling lo events or
condrtiorls that, individually or colleciively, may cast signifiGgnl doubl on the Group's or the parent charitable
companvs ability lo continue as a goin9 concem for a period of al leasl Iwel¥e months from when the fin8ncial
statements are aulhorised for issue.
Our responsibilities and the responsibilities of Ihe Trustees wlth respect lo going concern ar• described In the
relevant sections of ihis report.
Pa9e 12

THE EAST MALLING TRUST
(A company limited by guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEM8ERS OF THE EAST MALLING TRUST (CONTINUED)
Other infonnatlon
The other information comprises lh¢ information included in the Annual report other than the financial stalement8
and our Auditors report Ihereon. The Truslees are responsible for the other inlorTnalion contsined within the
Annual report. Our opinion on the financial stalemenls does not cover the olher information and, except lo Ihe
extenl olhep4vise expliolly staled in Our report, we do nol express any form of assurance conclusion thereon. Our
respon5ibilrty is to read the other information and. in doing so, consider whether the other information is
materially inconsislenl wrth the financial slalemenls or our knowledge obtained in the course of Ihe audil, or
othenvise appears lo be materially misslaled. If we idenllfy such malerial inconslslencies or apparent malefial
mi55talements, we are required lo delermine whether this gives rise lo a material misstatement in the financial
statements themselves. If, based on the work we have performed. we conclude Ih81 there is a malefial
misslalement ol Ihis other information, we are requlred lo report that lact.
We have nothing to report in this ￿gard.
Opinion on other matters prescrlbed by the Companles Act 2006
In our opinion, based on the work undertaken in the Gour¥e of the audit..
the information given in the Trustees, Report induding the Strategic Report for the financial year lor which
the financial 51al8menls are Prepared is ¢onsislenl wilh the financial slalemenls.
the Trustees, Report and Ihe Slrale9ic Report have been prepared in accordance %wlh applicable legal
requirements.
Mattern on whlch we are required to report by exception
In the li9hl of aur knowledge and underslJnding ol the ch8rllable company and ils environment obiained in the
course of the audit, we have not identified material misstatements in the Trustees, Report induding the Strategic
Report.
We have nothing lo report in respect of the following matters in relalion to which Companie$ Acl 2006 requires
us to report to you rf, in our opinion..
Ihe parenl charitable company has not kepl adequale and sufficienl accounting records. or returns
adequate for our audit have not been fe¢eNed from branches nol visited by us,. or
the parent charitable company financial $lalemenls are not in agreèment wilh the accountlng records and
retums.. or
certain disdosures of Twstees, remuneralion Specrfied by law are not made; or
we have not received all the information and explanations we require for our audit.
Responsibilities of tfUStee8
As explained more fully in the Trustees. responsibilities statement, Ihe Trustees (who are also the diredors of the
charitable company for the purposes of company law) are responsible for the prepaialion of the financial
stslemenls and for being salisfied Ihat they give 8 true and faSr view, and lor such inlemal control as Ihe
Trustees determine is necessary to enable the preparation ol financial statements ihal are free from rrialerial
misstalemenl, whether due lo fraud or error.
In preparing the financial 51atemenls. Ihe Twslees are responsible for assessing the Group's and the parertt
charitable cornpanls ability lo continue as a going concern, disclosing, as applicable, maller5 Felaled lo going
concern and using the 90ing concem basis of accounting unless the Tnjslees either inlend to liquidale the Group
or the parent charitable company or lo cease operations. or have no realistic attemalive bul lo do so.
Page 13

THE EAST MALLING TRUST
IA Company limited by guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE EAST MALLING TRUST (CONTINUED)
AudltoVs re$ponslbSlltles for the audit of th¢ financial statements
Our objectives are lo obtain reasonable asyurance about whether the financial stalemenls as a whole are free
from material misslatemenl, whether due to fraud or error. and lo issue an Auditorfs Teport that indudes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an 8udil conducted in
accordance with ISAS (UK) will always detect a material mi55talement when il exists. Misslalemenls can ari
from fraud or error and are considered material if. individually or in the aggregate. they could reasonably be
expected lo inflvence the economic decisions of users laken on the basis of these financial stalemenls.
Iffegularilie8. induding fraud, are inslances of non-compliance with laws and regulallons. We design proeedure•
in line ¥￿th our responsibililies. outlined above, lo delect material misstatements in respect of irregularities.
including fraud. The extent lo which our procedures are capable of detecting ifregularilies, including fraud is
de18iled below..
We oblained an understanding of the legal and regulatory framewort(s within which the charitable company
operate6, focusing on those laws and regulations that have a direct effecl on the delerminalion ol malerial
amounts and di5c105ures in the fin8nu81 slalemenls. The laws and regulations we considered in this contexl
were the Companies Ad 2006 and SORP 201 S.
We identified the grealesl rlsk of material impact on the financial statements from irregularities, including fraud,
lo be the override of controls by management and the recA)gnition ol revenue. Our audit procedures lo respond
lo these risks included,.
enquiry of managemenl about the Group's poliues. procedures and related controls regarding ￿MplianCe
with laws and regulations and if there 8re any known instance5 of non-compliance.
examining SUPPOrting dacumenls for all material balances, transactions and disclosures..
enquiry of rnanagemenl and review and inspedion of relevant correspondence.,
evaluation of the selection and appIl￿tion ol accounting policies related to subjectwe measurements and
complex transactions.,
an¥1￿•Cal procedures lo idenlfy any unusual or unexpected relationships."
testing the appropriateness of joumal entrie5 recorded in the general ledger and other adjustments made
In Ihe preparation of the financial slalemenls.,
review of accounting eslimale5 for biases". and
sample lesiing the various revenue streams bad( lo sUppO￿.n9 documenlalion, and bank receipt, paying
parti￿18r attention lo those recognised around the year end.
Because of the inherent limilaliorts of an audit. there is a risk that we will not detect all irregularities. induding
Ihose leading lo a material misslalement in Ihe financial statements or non-compliance with fegulalion. Thls risk
increases the more that compliance WFlh a law or regulation is removed from the events and transactions
reflected in the financial sialements. as we wll be less likely 10 become aware of instances of non-cornplianeA.
The rlsk is also greater regarding irregularities occuning due lo fraud rather Ihan error. as fraud involves
intenlional concealment. forgery. collusion. omission or misrepresentation.
A lurther description of our responsibilities for the 2udrf of the financial statements is localed on the Financial
Reporting Counal's website at-. www.frc.or
.uklaudi
nsibili
ie5. This description fonns part of our
Auditorfs report.
Page 14

THE EAST MALLING TRUST
IA company limited by guarant?el
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE EAST MALLING TRUST (CONTINUED)
Use of our report
This report is made solely lo the charitable companrfs members, as a body, in accordance with Chapter 3 of Part
16 of the Companies Acl 2008. Our audit work has been undertaken so that we might 51ale lo the charitable
companys members those mallers we are requiied lo stale lo them in an Audilor's report and for no olher
purpose. To the fullest exlenl pemitted by law, we do not accept or assume responsibility lo anyone other than
Ihe charilable company and its members, as a body, for our audit Work, for this report, or for the opinions
have fofmed.
M•tth¢w Howard {S¢nlor statutory audltorl
for and on behalf of
Crow• U.K. LLP
Slalutory Auditor
Medway B Tidge House
1-8 Fairmeadow
Maidslone
Kent
ME14- 1JP
Dale.. 19 December 2024
Page 15

THE EAST MALLING TRUST
IA company limited by guarantee)
CONSOLIDATED STATEPJIENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND
EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Income Irom:
Chanlable aclivities
Other trading activities
Inveslmenls
127.857
99,396
3,090,224
177,857
99,396
3,090,224
136,093
115.380
2,413,835
Tolal In¢om•
3,317,477
3,317.477
2,665.308
Expenditure on:
Raising funds
Charitable activits'es
2,371,704
1,028,258
2,371,704
1,028,258
2.154. 780
805,988
Total expendltur•
3,399,962
3,399,962
2,960, 768
Net movement In lunds béfor• other rn¢0gnl•od
gainslllosse81
182,4051
182,4851
(295.460)
ol￿r recogni3ed gainslllo$$¢s)'.
Gain$ on revalualion of inveslment portlolio
1.430,670
1.430.670
574,249
Net mov•m•nt In lundB
1,348.185
1.348.185
278, 789
ReconcSllallon of fvnds".
Tolal funds btOU9ht fonvard
Nel movement In funds
74.619,478
1,348,185
74,619,478
1,348,185
74.340. 689
278, 789
Totsl funds Carried forward
75,967.663
75.967.663
74.619,478
The Con501idaled Statement ol Financlal A￿1vIlle5 includes all galns and losses recognised in the year.
The no1é5 on pages 22 10 37 lorm paTt of these financial statemenla.
Page 16

THE EAST MALLING TRUST
IA company limited by guarantee)
REGISTERED NUMBER.. 07168674
CONSOLIOATED 8ALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Nol•
Fixed assets
Tangible assets
Investments
Inveslmenl property
12
14
13
7,761,858
16,637,883
35,373,419
6,141.839
15,074,851
29,722,611
59,773,160
50,939.301
Currant a88•18
Stocks
Debtors
Cash al bank and in hand
15
18
1.497
837,297
17,460.320
11,360
12.945,604
11.908,954
18,299,114
24,865,918
c￿ditOrs.. amounls falling duè within one
.year
17
11,854.611)
(685.741)
Net Current •$#•ts
16,444,503
24, 780, 177
Total assels les• current Ilabilities
76,217,663
75,7 19,478
c￿dI¢01s.. amounts 1811ing due 8fter more
than one year
18
1250,000
(500,000)
Total nel a88ets
75,967.663
74,019.478
Charlty funds
Un￿stricted fvnds
19
75,967,663
74,619,478
Total funds
75.967,663
74.619,478
Page 17

THE EAST MALLING TRUST
IA company limited by guarantee)
REGISTERED NUMBER: 07168674
CONSOLIDATED BALANCE SHEET ICONTINUEDI
AS AT 31 MARCH 2024
The Tfuslees acknowledge their responsibilities for complwng V￿th the requirements of the Act wrth respect to
accounting records and preparation of financial slalemenls.
Yhe financlal
statements were approved
&r ￿Je￿(44
and aulhorised for is$￿e by the Trustees
and signed on their behalf by..
on
The notes on pages 22 10 37 fom part of these financial slalemenl5.
Page 18

THE EAST MALLING TRUST
IA company limlled by guaranleel
REGISTERED NUMBER: 07168674
COMPANY BALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Note
Flxed a68•ts
Tangible assets
Investmenls
Investment property
12
7,740,314
16,647,883
35,373,419
6, 122.062
15.084.857
29.722.611
14
13
59,761,616
50,929,524
Current assels
Slock6
Debtors
Cash al bank and In hand
15
16
9,863
12.925, 180
11,867.130
875,268
17,413,744
18,289,012
24,802, 773
Creditors.. 8mounts falling due within one
year
17
11,830.0451
(702,063)
Net current •••et•
16.458,967
24, 700.710
Total assets less current liabilitles
76.220,583
T5,030,234
Credilor5'. amounts falling due after more
than one year
18
(250,OIXII
(500,000)
Total net a•B•ts
75.970,583
74.530. 234
Charity funds
Unrestncted fvnds
19
75.970,583
74,530,234
Total funds
75.970.583
74, 530.234
Page 19

THE EAST MALLING TRUST
IA company Ilmlted by guaranteel
REGISTERED NUM8ER: 07168674
COMPANY BALANCE SHEET (CONTINUED)
AS AT 31 MARCM 2024
The Companls net movement in funds for the year was £1,440,349 (2023- £247.418).
The TTuslees acknowledge their responsibilities lor complwng 4wth the requirements of Ihe Act with respecl lo
accounting records and preparation of financial slalements.
The financial slalemenls were approved and authorised for
issue
9 E fviuVCYfiQ£É c2c)aLF
by Ihe Tru51ees on
and signed on their behalf by..
The notes on pageg 22 to 37 fomi port of these ffinancial slalemenlj.
Page 20

THE EAST MALLING TRUST
IA company lirnited by guarantee)
CONSOLIDATED STATEMÉNT OF CASH FLOWS
FOR THE YEAR ENDED 31 MAR¢H 2024
2024
2023
Cash flow5 from operating actiliities
Nel cash generatedl{usedl in operating activities
12,387,050 11,088.030
Cash flows from Investin9 4¢tivities
Dividends, interests and renis from inveslmenls
Purchase'of langible fixed assets
Purchase of investment properties
Purchase of fixed asset investments
Proceeds from sale of fixed asset inveslmenls
595,366
113,04P
(1,680,242) (38T.01IJ
(5,650.808) (4, 784. 720)
(75,942,558)
1,000,000
Net cash u8•d In Snve8tlng actlvltl••
16,735,684) 120.001.2421
Cash flow$ from Ilnancing actlvlties
Repayments of borrowing
1100,000
N•t ca•h {uMd In)Iprovlded by fln•nclnq acllvltles.
(100,0001
Change In cash and ca8h equlval•Trt8 In th• year
Cash and cash equivalents al the beginnifig of the ￿81
5,551,366 18,913,212)
11,908,954 20,822.166
.Cash and cash equlyalents at the end of Iho year
17,460,320 11.908,954
The notes. ￿ pages 22 10 37 form part of Ihese finénual. slalethents
Page 21

THE EAST MALLING TRUST
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
General Infomiotion
East Malling Trust is a company limited by guarantee (registered number 07168674) whith is incorpoiated
and domialed in England.
It Is also registered as a charSty with the Charily Commission {regi$lered number 1134729). The address
ofthe regislered office is Bradboume House, East Malling, Wesl Malling, Kent, ME19 602
Accounting policies
2.1 8asl• of pr•pir•tlon of IIDanclal ¥t¥tem•nts
The financial statements have been prepared in accordance wth the Charlties SORP (FRS 102)
Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charilies
preparing their acc(Junl$ in accordance wilh the Financial Reportlng Standard applicable in the UK
and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard
applicable in the UK and Republic of Ireland {FRS 1021 and the Companies Ad 2006.
The East Malling Trust meets the definition of a public benefrt entity under FRS 102. A55els and
liabilities are inilially recognised al historical Gosl or transaction value unless otherwise staled in Ihe
relevant accounting policy.
The Consolidaled slalemenl of financial aclivilies (SOFA) and Consolidated balance sheet
consolidate the financial stalements of the Cornpany and ils subsidiary undertaking. The resulls of
the subsidiary are consolidaled on a line by line basis.
The Company has taken ad¥anla9e of the exemption allowed under seLlion 408 of the Companies
Act 2006 and has not presented ils own Sialemenl of financial actlvilles in Ihe$e financial slalemenls.
2.2 Incorne
All income is recognised once Ihe Company has enlsllemenl to the income, il is probable Ihal Ihe
income will be received and the amount of income receivable can be measured feliably.
Rental Income 15 accounted for an accruals basis and is reco9nised as it become8 due.
Donations arid sundry income received for the general purposes of the tharity we.accounted for on
the dale of nolificolion and enlitlemenl is established.
Outsourced service commission income is ac¢ounled for on an accwals basis and is recognised
when il becomes due lo East Malling Limited.
Page 22

THE EAST MALLING TRUST
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDEO 31 MARCH 2024
Accountlng policies (contlnued)
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic beneffii
lo a Ihird party, It Is probable Ihal a transfer of e￿￿Orni¢ benefi1$ will be required in settlement and
the amount of the obligation can be rneasured reliably. Expenditure 15 classified by actlvity. The costs
of each activity are made up of Ihe lolal of direct costs and shared costs, induding Support costs
involved in undertaking each aciivity- Direct cosis attribulable lo 3 single aclivily are allocated direclly
to Ihal aclivity. Shared costs which contribute to more than one adivity and support costs which are
not attributable lo a single activity are apportioned beiween those activities on a basis consistent with
the use of resources. Central staff costs 8re ellocaled on the basis of lime spent, and depreciation
charges allocated on the portion of the asset's u4e.
Costs of raising funds are costs Incurred in attr8cling voluntary income, and Ihose incurred in trading
aclivilies Ihat raise funds.
Expenditure on charitable activilies is incurred on direclly undertaking Ihe acllvilies which further Ih8.
Group's objectives, as well as any associaled support Costs.
Grants p8y8ble are charged in Ihe year when the offer Is made excepl In those cases where the offer
is conditional, such grants being recognised as expenditure when the assigned conditions are mel.
Grants offered subject to condrtions which have nol been mel al the year end are noled as •
commilmenl, bul not accrued as expenditure.
2.4 Int•re8t recdvable
Inleresl on fijnds held on dep0511 is induded when receivable and Ihe amouni can be measured
reliably by the Group.. Ihis is normally upon nollncation of Ihe Interest paid or paya￿8 tsy the inslitulion
with whom the fun(Is are dep051ted.
Page 23

THE EAST MALLING TRUST
IA ¢ompany limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENOED 31 MARCH 2024
Accounting policies l¢ontinuedl
2.5 Tanglble fixed assets and Investmenl propertle8
Freeholdpffjperty
The Trustees, policy is to revalue the companvs freehold land and buildings.
An independent Valuation of all the land and buildings al the East Malling site was carried oul as al 31
March 2023 and an updated assessmenl has been carried out by the Truslees in this financial year.
Regular maintenonce is carried out to all of the buildings at Ihe E8St Malling glle in order lo keep the
buildings al Ihelr cu￿ent level of condrtion.
The Trustees review and consider the valuation at each reporting date to assess rf there are
indications of a material change in Ihe valuation.
Freehold land is not depreciated.
Inveslm•nl pmpeths
The TnJ8tees' policy IG to revalue the companys investment properties.
A valuation of the land and buildings at the East Molling sile was carried out a$ al 31 March 2023 and
an updated assessment has been carried out by the Trustees in this financial year.
No depreclatlon Is provlded In respecl ol Investment prpperties In accordance wllh 8eclion 16 of FRS
102 "Investment Prcs)ertY'.
Anliques
An extemal valuation was carried out as al 31 March 2020 and an updated assessment has been
carried out by the Trustee5 in this financial year. No depfeoalion is charged in respect of antiques on
the grounds that the Directors consider that any charge would not be material by reference lo Ihe
lolal assets of The Trust, due lo the high residual value of ihe a55et5.
Tangible fix•d a88¢ts and depre¢i•tlon
Tangible fixed assets Costing £1,000 or more are caprtalised and recognised when future economic
benefils are probable and Ihe cost or value of the asset can be measured reliably.
Tangible fixed assets are inilially recognised at cosl. After recognition, under Ihe c051 model, tangible
fixed assels are measured at cost less accumulated depreciation and any accumulated impairment
losses, All costs incurred lo bnng a tangible fixed 8ssel into ils intended working condition should be
induded in the measurement of cosl.
Page 24

THE EAST MALLING TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting pollcles l¢ontinuedl
2.5 Tangibl¢ fixed assets and investment properties (continued)
Depiecialion is charged so as to allocate the cost of tangible fixed assets less their residual value
over Iheir ests'maled useful lives, using the straighl-line melhod.
Depreciation is provmled on the followtng bases-
Freehold property
Motor vehicle5
CompuleT eguipment
Anliques
See note above
25 /p reduang balance
1 OYD120 /¢f250/o slraighl line
See note above
2.6 Investrnents
Inve51rnenls in subsidiaries are valued al c4>sI less provision lor impairment.
2.7 Stocks
stocks are valued 81 the lower of cost and nel realisable value after maklng due allowance for
ob501ele and $low-movin9 slo¢ks.
2.8 Debtor8
Trade and oltjer debtors are recognised al the settlement amount after 8ny trade discount offered.
2.9 Cash at bank and In hand
Cash al bank and in hand includes cash and short-lerm highly liquid ihvestrnenls with a $hort malurily
of three months or less from the dale of acquisition or opening of ihe deposit or simi18r account.
2.10 Liabilitles and provlslons
Llabililies are recognised when Ihere is an obllgalion al Ihe Balance sheel d8le as a re5uII of a past
event, il Is Pfobable that a transfer of economic benefit will be required in settlement. and the amount
ol the settlement can be estimated reliably.
Liabilities are ￿cOgniSed 81 Ihe amount Ihal the Company anticipates il will pay lo settle the debl or
Ihe amount il has received os adv8nced payments lor the goods or services il must provide.
2..11 Financial instruments
The Group only has financial assets and financial liabilities ol a kind thal qualrfy as basic financiaj
inslrumenls. Basic financial inslrumenls are initially recognised al Iransaction value and subsequenlly
measured al their settlement value with Ihe exceplion of bank 108ns which are subsequenlty
measured at amortised cost using the effective inleresl method.
2.12 P•n•lon8
The Group operales a defined contribution pen5i0n scheme and ihe pension charge represents Ihe
amounts payable by the Group lo Ihe fund in ￿SPect ol the year.
Page 25

THE EAST MALLING TRUST
(A ¢ompany limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting poli¢ie8 (¢ontinu¢dl
2.13 Fund accounting
General funds a￿ unreslrided funds which are available for use al the discretion of the Trustees in
furtherance of the general objectives of the Group and which have not been designated lor other
purposes.
Crltl¢al accountlng e•tlmate$ and are•s of Judgment
The Group may be required lo make e51im8les and assumptions concemlng the future. These eslim8le$
and judgements are based on hislorical experience and other factors. including expeclalions of lulure
events that are believed lo be reasonable under the circurnslances. The resultin9 accounting eslimales
will, by definition, seldom equol Ihe related acluol resulls. The pnnapal areas where judgemonl w&$
exerased are as follows..
l) Tangible fixed essels: the Iru6lees annually assess both the residval value of Ihese assets and the
expected uselul life ol such assets which is cuf￿n11Y judged to be up lo 15 years. based on experience.
ill Propety valuallons.. freehold land and buildings and in¥e8lmenl properties are revalued by S8vills when
Ihe Trustees believe there has been a material than9e in value. Trustees assess on an annual basis th
valuation ol the propertie8. The value of the properties 16 eslimaled lo be Ihe open markel value 81 the
balance 5heel d81e.
lill ReC￿Verabl11tY of tr8de debtor8'. the tru$i••¥ annually a5888s whether 8 bad debt provision is required
for 8ny bad or doubtlul debtor balances.
crftical accounting estimates and 8S8umplion8:
Page 26

THE EAST MALLING TRUST
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATÉMÈNTS
FOR THE YEAR ENDED 31 MARCH 2024
Income Irom charitable activitleg
Unregtricted
funds
2024
Total
lunds
2024
Tolal
fvnds
2023
Short course income
127.857
127,857
136,093
InGome from other trading actlvlti•$
Income frorn fundraising events
Unrestricted
runds
2024
Totsl
lunds
2024
Tot81
lunds
2023
Wedding and rAfporaie evenl income
Other income
93,484
5,912
93,484
5,912
101.889
13.491
Total 2024
99,396
99.396
115,380
Investrnent income
Unrestrlcted
funds
2024
Total
fund8
2024
Total
funds
2023
Rent and serdice GharyeB Irom inveslmenl properties
Interest receivable
Dividends received from investments
Profil on dispD5al of fixed assets
2,362,499
173.754
553,971
2,362,499
173,754
553,971
2. 192,028
113.047
708,360
400
3.090,224
3,090.224
2,413.835
Page 27

THE EAST MALLING TRUST
{A company limited by guaranteel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Expenditure on ralslng lund8
Costs of ralging'voluntsry Income
Unre•tricted
funds
2024
Total
funds
2024
Total
fvnds
2023
Wedding. conferencing and catering cosls
Property Manager costs
Eslale management and maintenance costs
Overhead and administration costs
Deprecialion
14.827
219.214
1.661.873
419,000
56,990
14,827
219,214
1,661.673
419,000
56,990
10.984
232.258
1,385.538
49T, 744
28,256
Total 2024
2,371,704
2,371,704
2, 154, 780
An•lysls of •xpendlture on charitable activltl••
Summary by fund type
Unrestricted
fund8
2024
Total
2024
Total
2023
Horticuftur01 research projecls
Short course expen¢Jilure
Estale management and maintenance costs
686,625
90,270
251.363
686,625
90.270
251,363
443,683
94.212
268.093
1.028.258
1,028.258
805,988
Page 28

THE EAST MALLING TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Auditor'8 remuneralion
2024
2023
Fees payable lo the Companls auditor for th'e audil of the Companls
annual accounts
20,440
78.925
Fees pay8ble lo the Companls auditor in respect ot.
Taxation compliance seNices
890
825
10. Stsff ¢0gts
Group and
Company
2024
Gn>up and
Company
2023
Wages and salaries
Social security cosls
Contribullon lo defined conlribulion pension schemes
426,385
34,242
20.394
466,456
40,059
16,317
481.021
522,832
The average number of persons employed by the Company during the year was as follows..
Group
2024
Gmup
2023
No.
Research and 8dminiitro1ion
17
The number of employees whose employee beneffts (exduding employer pension costs) exceeded
£60.000 was..
Group
2024
No.
Group
2023
No.
In the band £60,001- £70,000
In the band £110,001- £120.000
During the yew the Group employed 1 key management personnel (1 2022123). Remuneration and
benefits received by key management personnel during the period of their eMplO￿￿ent In 2023124
tolalled £78,532 (2022123 . £114,293).
Pagè 29

THE EAST MALLING TRUST
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
11. Tru$tse$' remuneratlon and expenses
During the year, no Trustees received any remuneralion or other benefits (2023- £NIL)-
Trustees, expenses represents amounts paid or reimbursed relating lo Ir8velling and general meeting
expenses. The lolal amount of trustee expenses for the year wa5 £8,875 (2023- £2,461).
12. Tangible fix•d •$sets
Group
Freehold
property
Motor
v•hlcle$
Other fixed
a8s•ts
Equlpment
Total
Cost or valuatlon
At 1 April 2023
Addthons
5,490,000
14.150
104.569
s,000
849,698
1.661.092
217,999
6,662,266
1,680,242
Al 31 March 2024
5,$04,150
109,669
2,510,790
217.999
8,342,508
D•precl•tl¢)n
At 1 April 2023
Charge for the year
90,806
4.086
429,621
56.157
520,427
60.223
At 31 March 2024
94.872
485.778
580,650
Net book value
At 31 March 2024
5,504,150
14,697
2,025,012
217,999
7,761,868
At 31 March 2023
5,490,000
13,703
420,077
217.999
6.141,839
P89e 30

THE EAST MALLING TRUST
(A Company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
12. Tangible lixed assets (continuedl
ompany
Freehold
property
Motor
vehicles
Computer Other fixed
¢qulpment
41set•
Tol•l
Cogt or valuatlon
Al 1 April 2023
Addilions
5.490,000
14,150
104.569
s,000
762,701
1,656,092
217,999
6,575,269
1,675,242
Al 31 March 2024
5.504,150
109.569
2,418,793
217,999
8,2SO,S11
Depreci•tlon
At 1 April 2023
Charge for the year
90,806
4,066
362,401
S2.924
453,207
56.990
Al 31 March 2024
94.872
415,325
510,197
Net book valu•
Al 31 March 2024
5.504,150
14,697
2,003,468
217.999
7,74Q,314
At 31 March 2023
5,490,000
13. 763
400,300
217,999
6. 122,062
Page 31

THE EAST MALLING TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
13. Investment property
Group •nd Company
Freehold
inv¢stment
property
Valuation
Al 1 April 2023
Addiilons
29,722.611
5,650.808
At 31 March 2024
35.373.419
A v8lvalion of all the land and buildings at the East Malling sile was carried.out as al 31 Ma￿h 2023 and
an update¢J assessmeril Carried oul by the. Trustees as at 31 March 2024.
14.
Fixed assgt inv•tytrTr•nts
Listed
illveBtrnents
Group
Cost or valuation
At 1 April 2023
Revaluations
Share ol profivllossl
15,074,851
1,430,673
132,359
At 31. March 2024
16.637,883
Net bgok value
Al 31 March 2024
16,637.883
.At 31,March 2023
15.074,851
Page 32

THE EAST MALLING TRUST
IA company lirnited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
'14. Flxed agset inv•stment• (contlnuedl
Inv•stmonts
In
subsidiary
Listed
companies Investments
Totsl
Company
Cost or valualion
Al 1 April 2023
Revalualions
Share of profiU{los8)
10,000 15.074,851
1,430,673
132.359
15,084.851
1,430,673
132,359
Al 31 March 2024
10.000 16,637,883
16,647.883
N•t book value
Al 31 March 2024
10.000 16,637.883 16,647.883
Al 31 Al8rch 2023
10,000
15.074.851
15,084,851
Page 33

THE EAST MALLING TRUST
(A Company Ilmited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Principal subsidiar5es
The following was a subsidiary undertaking.of the Company..
Name
Company
number
Reglslered office or principal Principal actlvlty
pl•¢0 of busin¢$s
East Malling.Limiled
05046509
Shown on charity information
pa9e
Operation of
conference and dining
faolilles
Class ol
Shares
Holdlng
Included in
consolidation
Ordinary
100% Yes
The financlal resulls of ihe subsidiary for the period were..
Name
Income
Expenditure ProfiV(Lo$81
for the year
Net assfrts
East Malling Limsted
90,407
(69,995)
20,412
1131,0321
15. Stoek•
Group
2024
Group
2023
Cornpany
2024
Company
2023
Consuinables
1,497
11,360
9,863
Page 34

THE EAST MALLING TRUST
{A company Ilmlled by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
16. Debtors
Group
2024
Group
2023
Company
2024
Company
2023
Dut within one ye•r
Trade debtors
Amounts owed by group undertaking1
Other debtors
159,S51
224,224
142.398
55,124
677.746 12, 721.380
204.400
677,746 72, 721,380
837,297 12,945,604
875,268 12.925.780
17. Credllorg: Amounts falling due within one year
Group
2024
Group
2023
Company
2024
ompany
2023
Olher loans
Trade ¢￿dItorS
Amounts owed to group undertakings
Corporation tax
Other laxalion and social security
Other creditors
250,000
239,569
100,000
280, 706
250.000
233,501
100.000
278.207
30.190
6,578
24,389
1,334,075
7.468
15,099
282,468
17,311
1,329,233
12.403
281.263
1,854,611
685, 741
1.830.045
702,063
Other loans are unsecured and are interest free, and is considered lo be public benefit concessionary loan
as defined by FRS 102.
18. Cr•dltors.' Amounts falllng duo aft•r more Ihan on• y•ar
Group
2024
Group
2023
Company
2024
Compony
2023
Other loans
250,000
500,000
250.000
500,000
Page 35

THE EAST MALLING TRUST
(A company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
19. Statement of funds
Statement of funds.. current ye•r
Balance at
31 March
2024
8alance at I
Apvil 2023
Gain•1
(Losses)
Incom• Exwndlture
UnrostrlGt•d lund8
Unrestricted fijnds
74,619,478
3,317,477
13.399.962)
1.430.670 75,967,663
Statemenl ol funds . prior year
8818nce al
31 March
2023
Bal8nc8 at
1 April 2022
G8insl
(Losses)
Income Expenditu
Unrestrieted lund8
UnrestrKted funds
74.340,089
2,665,308 (2,960, 768J
574,249 74,619,47
20. Analy•l• of n•t ••••t• b•tw••n lund•
Analygis of net Jssets between funds - current period
Unr•8lricted
funds
2024
Total
2024
Tanglble fixed assets
Fixed asset inveslmenls
Investment property
Current assels
7.761,858
7,761,858
16.637.883 16,637.883
35.373,419 35,373.419
18,299.114 18,299.114
(1.854,611) (1,854,611)
1250.000)
(250.0001
Credilofs due within on• year
Creditors due in more Ihan one year
Total
75.967,663 75,967.663
.Page 36

THE EAST MALLING TRUST
IA cornpany limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
20. Analysis of net assets between fvnds (conlinuedl
Analysis of net assets between ltsnds - prlor perlod
Endowmenl Unrnstrtcled
lunds
lunds
2023
2023
Total
lunds
2023
Tangible fixed 85$ets
Fixed asset investments
Investment propety
Current assets
Creditors due within oné year
Creditors due'in more than one year
6,141.839
6. 141,839
15,074.851 15,074,851
29,722.611 29, 722.611
(61.070) 24,926,988 24,865.918
61,070
(746,81 IJ
f685, T41)
(500.000) (500,000)
Total
74.619,478 74,619,478
21.
Pension commitments
The Group operatej o defined conlrlbutions penslon scheme. The assels of Ihe schome are held
$eparalely from Ihose of the Group in an independently administered fund. The pension cost charge
represenls contributions payable by the Group lo the fund and amounted lo £20.394 12023 - £16.317).
Contributions tolalling £6.430 (2023 £4,829) were payable lo Ihe fund al the balance sheet dale and are
included in creditors,
22.
Related party tian8action8
During Ihe year The East Malling Trugt charged East M8lling Llmiled rent of £44,000 (2023 - £44,000). As
at 31 MaTch 2024. East Malling Limited owed The East Malling Trust £192,918 (2023 - £220,181).
23. Conlrolling party
The Ea81 Malling Tru8l is a registered Charity, limlled by guarantee. It 18 controlled by the Board of
Trustees.
Page 37