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2024-04-30-accounts

Report of the Trustees and Consolidated Financial Statements For the year ended 30 April 2024

Charity registration number: England & Wales 1151475 Scotland SCO45386

Horatio’s Garden

Index to the Financial Statements For the year ended 30 April 2024

Page
Reference and Administrative Details 3
Welcome from the Chair of Trustees 6
Report from the Chief Executive 8
Report of the Trustees 9
Report of the Independent Auditors 22
Consolidated Statement of Financial Activities 26
Balance Sheets 27
Statement of Cash Flows 28
Notes to the Financial Statements 29

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Reference and Administrative Details

Royal Patron HRH Princess Eugenie of York President The Countess of Radnor Ambassadors Sir Kenneth Calman KCB DL Maggie Cameron Sir Algernon Heber-Percy KCVO Dame Joanna Lumley DBE Jack Mannings Annie Maw CVO Peter Reed OBE Melanie Reid MBE Anneka Rice Bianca Roden The Countess of Rosslyn BEM Raquel Siganporia The Hon. Mrs Rupert Soames DL Sir James Stirling of Garden KCVO CBE Yan Swiderski Alan Titchmarsh MBE VMH DL Andrew Widdowson Trustees Dr Olivia Chapple OBE EMH MRCGP (Chair) Victoria Holton (Executive Trustee) Catherine Burns David Chapple FRCS Richard Grainger David Gregg (resigned June 2023) Lisa Stratton Mark Yallop CBE James Alexander-Sinclair Mohammed Belal FRCS (appointed June 2023)

Key Management Staff Katie Tait – CEO (appointed April 2024)

Julia Dustan - Finance Director Bethan Cummings – Director of Fundraising Zoë Franklin – Director of Communications & Events Kath Moss- Director of Gardens

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Registered Office 2 Throope Down Office, Blandford Road, Coombe Bissett, Salisbury, SP5 4LN Registered Charity Number 1151475 (England & Wales) SC045386 (Scotland) Auditors Saffery LLP Midland House, 2 Poole Road, Bournemouth BH2 5QY Bankers HSBC Bank Plc, 19 Minster Street, Salisbury, SP1 1TE

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Horatio’s Garden Charity

Horatio’s Garden nurtures the wellbeing of people after spinal injury in beautiful, vibrant sanctuaries within the heart of NHS spinal injury centres. Leading designers create the accessible gardens where the charity’s team, alongside volunteers and creatives, care for people and plants alike.

The gardens are vital places for reflection and adjustment for people facing lifechanging injuries and long stays in hospital. Impact studies demonstrate that everyone benefits from the gardens – patients, their loved ones and the hospital staff too.

The charity’s vision is to sustainably grow thriving communities and biodiverse gardens in all 11 NHS spinal injury centres in the UK. To date we have opened seven gardens in the South West, Scotland, Stoke Mandeville, Midlands, London & South East, Wales and the latest seventh garden opened during the year in Northern Ireland. We have started our eighth garden construction in Sheffield with an anticipated opening date of early 2025.

Our vision, mission and values

Vision

To sustainably grow thriving communities and biodiverse gardens in every NHS spinal injury centre in the UK.

Mission

To improve the lives of everyone affected by spinal injury through creating and nurturing beautiful gardens in NHS spinal injury centres. We grow thriving communities to support the physical and psychological wellbeing of patients and their loved ones facing long stays in hospital, as well as NHS staff.

Values

Empowering People

We are dedicated to supporting people affected by spinal injury. We treat everyone with dignity and respect and are compassionate, caring, kind.

We are staffed by outstanding, enthusiastic employees, trustees and volunteers. We are committed to investment in training and development so that our teams can deliver the best service. We believe in equal opportunities for all and strive to be a diverse organisation.

Pioneering Thinking

Our gardens are pioneering and innovative places of exceptional standard.

Our aim is to improve the outcomes for people facing life changing injuries by using an evidence-based approach to transform the environment and enhance the holistic care given in spinal injury centres.

We are not afraid to challenge and change norms. As thought leaders, we champion the wider benefits of gardens to health.

Practical Sustainability

We invest in nurturing all our gardens to ensure their longevity. We have a positive impact on the environment and have a sound sustainability culture.

We are professional, ethical, accountable and have strong governance. Our detailed financial strategy and fundraising plans provide long-term security.

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Welcome from the Chair of Trustees

This year Horatio’s Garden became a truly UK-wide organisation with the opening of the latest garden in Belfast. Now patients in Northern Ireland, Scotland, Wales and England can benefit from our services during their long stays in hospital.

This achievement is only possible thanks to the many generous donors who contribute to both our capital developments and the ongoing costs of delivering the projects to patients. We are incredibly grateful to everyone who has helped throughout the year particularly the Mitre Trust, the National Garden Scheme, the Band Trust, the Geoff and Fiona Squire Foundation, the Linbury and Aurora Trusts, the Rank Foundation and the Queen Anne’s Gate Foundation.

I would like to pay tribute to the incredible Board of Trustees for their expertise and commitment to Horatio’s Garden. Their professional contributions are outstanding and are fundamental to the organisation’s growth. This year sadly saw the retirement of David Gregg, a founding trustee who has given an incredible 11 years of service and we welcomed Mohammed Belal FRCS, a consultant surgeon who experienced a spinal cord injury in 2020 and has direct experience of using Horatio’s Garden.

The opening of Horatio’s Garden at Northern Ireland’s only spinal injury centre has been exciting and moving. Andy Sturgeon’s designs have transformed an inaccessible, waterlogged area into a beautiful garden. We have been bowled over by the brilliant team of garden volunteers who have got involved and the outstanding volunteer fundraising committee’s support. We look forward to seeing the impact of the garden on the patients, families and staff.

Another high point of the year was the RHS Chelsea Flower Show 2023. Thanks to a generous grant from Project Giving Back, we were able to create a main avenue garden, designed by Harris Bugg Studio as a distilled version of the next garden to be built in Sheffield. The garden won a gold medal and the coveted Best in Show award – this resulted in widespread press coverage for the charity and a rise in awareness of our work.

Throughout the year we have continued our mission to support the NHS’s spinal injury centres giving evidence-based care to people affected by spinal injuries, and their families, and supporting the staff who care for them. With our growing body of experience, we are also increasingly involved in advocacy for the benefits of connecting people with nature across the NHS and have widened our objectives to enable us to give advice to other NHS Trusts who are trying to overcome the challenges of creating gardens for their patients. We have grown our focus on sustainability both in the construction and delivery of our projects and are working with the Linbury Trust to measure and improve our impact in this area.

The capital campaign for the year to create a Horatio’s Garden at the Princess Royal Spinal Injuries Centre in Sheffield – the UK’s second largest spinal injury centre – has been successful thanks to phenomenal support from many individuals and charitable trusts who share our vision to transform the car park into a garden sanctuary.

I am delighted that Horatio’s Garden is continuing to grow and as part of our development our next evolution has been to appoint a CEO. Since inception, I have led the organisation as Executive Chair of Trustees, but it is now time to divide the roles for Horatio’s Garden to continue to develop and meet the needs of our thousands of beneficiaries. I am absolutely thrilled to have appointed Katie Tait as our first CEO. Katie comes from Maggie’s Centres

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with vast experience and expertise as well as being a highly talented leader. I look forward to working closely with Katie in the exciting next phase of Horatio’s Garden.

My sincerest thanks go to everyone who helps the charity – whether through volunteering, donating, fundraising or working, we are all so grateful to you – together we are changing the hospital environments for patients facing the toughest of injuries.

Dr Olivia Chapple OBE EMH MRCGP Founder and Chair of Trustees

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Report from the Chief Executive

I am incredibly proud to be coming to an organisation with such clear aims and ambitions as Horatio’s Garden. In the twelve years since the organisation was first set up, it has opened seven inspiring, groundbreaking gardens on NHS estates and supported thousands of people with spinal injuries and their families and friends along with NHS staff.

The ambition for this next phase of growth will be:

In my first three months in role, I have been met by a consistent level of professionalism, dedication and efficiency that is an inspiration in the Third Sector. Under the leadership of Dr Olivia Chapple, Horatio’s Garden has become a byword in the delivery of high-quality horticulture therapy and care alongside the NHS.

I am enormously looking forward to being part of its future.

Katie Tait CEO

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Report of the Trustees

Objectives, Achievements and Performance

The constitution of the charity lists the purposes to:

We now have seven gardens open, providing beautiful spaces for patients, their loved ones and NHS staff. Our eighth garden is under construction in Sheffield.

Horatio’s Garden South West was designed by six-time RHS Chelsea Gold Medal winner Cleve West. It opened in September 2012. The garden is part of the Duke of Cornwall Spinal Treatment Centre at Salisbury District Hospital, which serves patients from the whole of the South of England. This includes everything from the Isles of Scilly to Hastings, as well as the areas surrounding the M4 corridor.

Horatio’s Garden Scotland was brought to life by celebrated garden designer and RHS Chair of Judges, James Alexander-Sinclair. It opened in September 2016. The garden is part of the Queen Elizabeth National Spinal Injuries Unit at Queen Elizabeth University Hospital, Glasgow. This is the spinal centre supporting patients throughout the entirety of Scotland, from the Scottish Highlands right down to the English border.

Horatio’s Garden Stoke Mandeville was created by RHS Gold Medal winner and presenter of BBC Gardeners’ World, Joe Swift. It opened in September 2018. The garden is part of the National Spinal Injuries Centre at Stoke Mandeville Hospital, which is one of the largest centres in the UK. It primarily serves patients in south-east England, but supports people from across the UK, including children and adolescents with spinal injuries.

Horatio’s Garden Midlands was designed by acclaimed journalist and six-time RHS Chelsea Gold Medal winner, Bunny Guinness. It opened in September 2019. The garden is part of the Midland Centre for Spinal Injuries at the Robert Jones and Agnes Hunt Orthopaedic Hospital in Oswestry. The MCSI offers a lifelong service to patients from north and midWales, South Mersey, Cheshire and parts of the West Midlands.

Horatio’s Garden London & South East was created by eight-time RHS Chelsea Gold Medal winner and internationally renowned landscape architect, Tom Stuart-Smith. It opened in September 2020. The garden is part of the London Spinal Cord Injury Centre at the Royal National Orthopaedic Hospital, Stanmore. The centre offers a lifelong service for adults,

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children and young people, with patients predominantly admitted from London, Greater London and South East England.

Horatio’s Garden Wales was created by two-time RHS Chelsea Gold Medal winner, Sarah Price. It opened in May 2022. The garden is part of the Welsh Spinal Cord Injury and Neuro Rehabilitation Centre in University Hospital Llandough, Cardiff. The centre offers a lifelong service for adults, children and young people, with patients predominantly admitted from across south and mid Wales.

Horatio’s Garden Northern Ireland was designed by Andy Sturgeon, an acclaimed garden designer who has won a total of nine RHS Gold medals. It opened in December 2023. The garden supports spinal injury patients from across the entirety of Northern Ireland as well as people staying in the Amputee Rehabilitation Unit.

Horatio’s Garden Sheffield & East is being designed by Charlotte Harris and Hugo Bugg from Harris Bugg Studio. It began its life as the Best in Show winning garden at RHS Chelsea Flower Show, supported by Project Giving Back and is planned to open at The Princess Royal Spinal Injuries Centre Unit at the Northern General Hospital in Sheffield in 2025.

Achievements for 2023/24

The Trustees set the following objectives.

  1. Create an award-winning Horatio’s Garden at the Chelsea Flower Show in May 2023, showcasing the charity to spread awareness of its vital work.

In May 2023, Horatio’s Garden won Best in Show at RHS Chelsea Flower Show generating a huge and continuing uptick in awareness of the organisation and the needs of people with spinal injuries.

  1. Meet the target for the capital build for Horatio’s Garden Sheffield & East and prepare to commence construction.

The funding target was met for the capital build for Horatio’s Garden Sheffield and East. The garden is set to open in January 2025.

  1. Implement a new staff structure, including the appointment of a CEO, to facilitate the charity’s next phase of growth from six projects to eleven. Appoint a Director of Gardens to deliver parity of service across all gardens and support the growing number of garden teams who are geographically distant across the UK.

We have started to implement a new staff structure to facilitate the charities next phase of growth and have successfully appointed both a new CEO and a new Director of Gardens.

  1. Establish a rolling review plan of the earlier gardens, ensuring that they are still delivering the best service to beneficiaries as the gardens mature.

The Director of Gardens has completed and established a review plan.

  1. Complete the build and open Horatio’s Garden Northern Ireland.

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Horatio’s Garden Northern Ireland, situated in Belfast, was successfully completed and opened in June 2024.

  1. Select a designer and begin the consultation and project-planning phase for the ninth Horatio’s Garden.

Discussions are ongoing to submit plans for Horatio’s Garden North. Project planning is well underway with The Golden Jubilee Regional Spinal Cord Injuries Centre at The James Cook University Hospital in Middlesbrough.

  1. Generate discussion around accessible garden design.

Winning Best in Show at RHS Chelsea Flower show with the first design for people with mobility needs generated UK wide discussion around accessible garden design with wide coverage in print, broadcast and social media. Dr Olivia Chapple has spoken about accessible design at a number of conferences.

The Trustees set the following objectives for 2024/2025

  1. Complete the build for Horatio’s Garden Sheffield and East

  2. To develop specific impact reporting and research to highlight the health benefits of Horatio’s Garden.

  3. To work in closer partnership with the NHS so that Horatio’s Garden can fully complement the patient pathway. To include a pilot study for a Relationship Manager based in a Garden.

  4. To continue to build a robust events pipeline

  5. Develop a stronger Friends proposition for individual donations.

  6. Develop and commence a capital fundraising plan for Horatio’s Garden North at James Cook University Hospital.

  7. To standardise the communications within each garden.

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Staff and Volunteers

We have continued to strengthen our Senior Management Team to support the needs of the growing Charity.

In November 2023, we recruited a Director of Gardens. This is a new role to manage and benchmark our gardens to ensure quality and consistent delivery.

Three additional gardens have a part time WRAGS scheme trainee (Work and Retrain As a Gardener scheme).

We have also recruited a Head Gardener and Administrative Assistant for our newly opened Northern Ireland garden.

In April 2024 we appointed a CEO to support our Chair of Trustees and lead the Senior Management Team.

At the start of the financial year there were 35 staff working 21.4 full-time equivalent roles. At the end of the financial year, the charity employed 44 staff equating to 27.7 full-time roles.

Volunteers are at the heart of every Horatio’s Garden be it gardening, patient support, cake baking, fundraising or administrative roles. There are currently 217 volunteers helping across all gardens and at the charity’s office in Salisbury. This year, the average weekly volunteer time totalled 213 hours giving an annual total of 11,593 hours. This compares to 13,048 hours in 2022/23.

Both the charity’s Founder & Chair of Trustees, Dr Olivia Chapple, and Trustee, Victoria Holton, continue their dedication to the charity as volunteers on a full-time basis.

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Raising Funds

Horatio’s Garden charity is registered with the Fundraising Regulator and is committed to the Fundraising Promise and adherence to the Code of Fundraising Practice. This report covers the requirements charities must follow, as set out in the Charities Act 2016. The charity does not receive statutory government funding and therefore must fundraise for the full expenditure annually. The charity does not work with external fundraising agencies. The volunteers are encouraged to support fundraising initiatives, and the team provide them with relevant guidance and information as required.

2023-24 was a successful year of fundraising with the Northern Ireland Capital Appeal fundraising target being reached, and Trusts & Foundations, Corporate Partnerships, Major Donors (excluding legacy giving), Regular Giving and Events all growing in value from the previous year.

Trust & Foundation funding continued to be the primary source of income for the charity, generating £1.7 million, an increase of nearly £400,000 from 2022-23. This increase was primarily driven by a very positive response from Trusts & Foundations to our Sheffield & East Capital Appeal.

We would like to thank all our trust funders, and we are very grateful for all the support they give the charity including:

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We had launched the Capital Appeal for the Sheffield garden in the October of the previous financial year and by the end of the financial year 2023-24 we had received or had pledged a total of £1.6 million towards the £1.75 million target. This target was reached in the first month of the next financial year (2024-25) thanks to a pledge from the Garfield Weston Foundation.

We would also like to thank all our funders who pledged support in 2023-24 for the Sheffield Capital Appeal, to be donated in 2024-25, including:

Working with our regional partnership structure we received £170,504 from our corporate supporters, for which we are very grateful.

Having introduced a legacy giving programme in 2022-23, we received £12,192 in 2023-24.

The individual giving Friends programme continued to provide the charity with a reliable source of monthly income for each garden and is an area of fundraising focus for continued promotion. We received £78,765 from the Friends during the year. The charity thanks the loyal individual donors who again gave large annual gifts, as well as supporters who generously donated Gifts in Kind for the spring raffle and products to be used in the gardens. Donors may choose to give to a particular regional project.

The website outlines the charity’s complaints policy for the public and clearly explains how an individual can complain. No fundraising related complaints were received this year. Complaints are dealt with in-line with the complaints policy and reported to the Fundraising Regulator if required.

Staff and volunteers adhere to the Fundraising Regulator’s Code of Practice in relation to people in vulnerable circumstances, ensuring that all donors are treated fairly and able to make an informed decision about any donation they make. This is reflected on the Ethical Fundraising Policy.

Horatio’s Garden wants to make special thanks to our largest single funder to date, The National Garden Scheme, who have supported the creation of Horatio’s Garden Stoke Mandeville, Horatio’s Garden Midlands, Horatio’s Garden London & South East, Horatio’s Garden Wales and Horatio’s Garden Northern Ireland, and have pledged support to create Horatio’s Garden Sheffield & East. To date the National Garden Scheme have generously donated £585,620 to Horatio’s Garden and have made a commitment to funding a contribution to all future gardens.

In May 2023, Horatio’s Garden won Best in Show for our Main Avenue show garden at RHS Chelsea Flower Show 2023. Designed by Charlotte Harris and Hugo Bugg of the awardwinning Harris Bugg Studio, it was generously funded by Project Giving Back. This was the first garden at Chelsea designed with the requirements of people with mobility needs at its heart. Incorporating stories and influences from the Sheffield region, it connected to its future home as our eighth garden, Horatio’s Garden Sheffield & East at the Princess Royal Spinal Injuries Centre at the Northern General Hospital, Sheffield.

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The Chelsea garden significantly strengthened the charity profile and awareness with impactful media campaign with 160 unique pieces of coverage, effective digital and social content and engagement including 737,000 combined reach on Instagram and Facebook and connected with a wide range of high-profile visitors from Dominic West to Imelda Staunton. The garden also achieved industry endorsement and raised awareness of inclusive design, winning a gold medal and the coveted Best in Show award. We raised significant funds for the Sheffield & East capital appeal as well as attracting sponsorship ad pro bono support. We attracted new and strengthened existing donor relationships with a series of events throughout the week and built pride and loyalty amongst staff, volunteers and supporters.

Other event highlights across the year included a charity partnership at Burghley Horse Trials, a post-Chelsea talk with five Horatio’s Garden designers at The Conduit and our biannual art auction selling artworks from 79 artists which raised £50,000. Building on the success of our annual Christmas Carol concert at St Mary Abbots Church in Kensington, this year saw the inaugural Northern Ireland carol service. Led by the Northern Ireland fundraising committee, the successful event featured an appeal by BBC Radio 4 Gardeners’ World’s Kathy Clugston. We were also a beneficiary charity of the Wales Carol Concert at Llandaff Cathedral hosted by the High Sheriff of South Glamorgan.

Our brilliant fundraisers also took on some fantastic challenges throughout 2023-24 from runners in the London Marathon, Sheffield Half, Southampton Half, London Landmarks and Glasgow Kiltwalk, a pilgrimage to Santiago de Compostela in Spain, the start of Baroness Martha Lane Fox’s ‘three peaks challenge’, a classic car run of 1970s Stags and many activities for charity of the term at King’s School Bruton. We also launched the new Spring Forward community ‘get active’ challenge which raised £10,000 including individuals and team activity around the gardens plus corporate partner involvement.

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Financial Review

The consolidated financial results for Horatio’s Garden include two wholly owned subsidiaries; Horatio’s Garden Shop Ltd, incorporated 29th November 2013 and the first year’s results for Horatio’s Garden Trading Ltd, incorporated 14th March 2023.

In our commitment to responsible financial management we secure funding for the budgeted construction costs for each new garden prior to the commencement of garden construction. By doing so we aim to minimise the Charity’s exposure to risk. It is however important to note that this approach often spans multiple financial years and as a result, the Statement of Financial Activities may show a net surplus or deficit, dependant on where in the cycle our financial year end of 30th April appears. This deliberate planning ensures the sustainability of our charity endeavours.

The accounts for the year ending April 2024, shows a net deficit for the year of £169,100, entirely due to the timing of the Northern Ireland garden construction and donations spanning more than one financial year.

Total income

Total income for the year ending 30th April 2024 increased by £707,986, to £2,976,353 (2023: £2,268,367). Income from Trusts and Foundations increased by £311,543 and Individual donations increased by £154,789. Much of the increase was to support our fundraising for the forthcoming Sheffield & East Garden, a distilled design of which was displayed at the RHS Chelsea Flower Show in May 2023 with the funding support of Project Giving Back. The opportunity to have a show garden at RHS Chelsea has enabled the Charity to engage with a much wider audience and gain further support in the UK and abroad. We have now secured the funding for the Sheffield & East Garden and construction started in June 2024.

Restricted income for the running costs of specified gardens or the construction cost of new gardens was £2,099,796 and accounted for 71% of the total income. Of the restricted income £1,233,255 was received for the design and build of new gardens.

Receivable interest increased by £19,961 due to higher interest rates on deposit accounts held.

Total expenditure

Total expenditure for the year was £3,145,453 (2023: £1,838,533). Garden construction and design costs for the year were £1,330,434. Construction costs include the final payment for the Wales garden, the remaining costs for the Northern Ireland garden as well as professional fees for the design teams and ground surveys for the Sheffield & East garden.

Operational costs for the year, excluding construction costs, increased by £346,477. Direct garden costs increased as they included a full year of Wales garden costs and running costs from December 2023 for our Northern Ireland garden. To support the growing number of gardens and their operational requirements we recruited a full time Director of Gardens and each garden now has a part time trainee gardener as well as a dedicated Head Gardener. Other support costs also increased with additional IT compliance and administrative overheads. The additional expenditure was budgeted and carefully managed in line with the growing charity structure.

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Fundraising costs

Fundraising costs for the year were £536,689 (2023: £355,877). The increase reflects the increase in fundraising activity around the RHS Chelsea Flower show along with an update of our website and brand.

Designated Funds

Funds have been designated during the year for the Northern Ireland garden to fund the construction costs whilst waiting for pledged funding due in the financial year 2045/2025.

Transfer between funds

A transfer was made from unrestricted funds to restricted funds of £30,000, confirming a restriction for the London & South East garden requested by the donor. A total value of £40,205 from the designated maintenance fund was allocated for essential repairs to the gardens, preserving the functionality and the building standards. Transfers from general charity funds to restricted funds were used to cover the allocation of support costs.

Current Assets

The cash at bank and in hand at the end of the year was £2,261,819 (2023: £2,618,401). All funds are held in either current or deposit accounts. This year a number of money market accounts have been opened to benefit from increased interest rates.

Reserves Policy

It is the policy of the Trustees that the Charity should hold reserves to enable the charity to continue to operate in the event of an unforeseen shortfall of voluntary income or sudden unexpected expenditure.

The Charity has three types of reserves:

The Board of Trustees have considered the risks and uncertainties and concluded that the appropriate level for general reserves should usually be between six- and eight-months operating expenditure, excluding garden construction costs. This figure is adjusted should a garden fund have sufficient restricted reserves available to fund operating expenditure for this period. The general reserves policy level for 2024 will be between £696,655 and £954,740.

Total funds at the end of 2024 were £2,250,543 of which £511,756 were held as restricted funds and £1,007,038 as designated funds.

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As of 30th April 2024, the charity held free reserves defined as unrestricted funds, less fixed assets, less designated funds of £710,203 (2023: £936,005). Free reserves are therefore within the expected range.

Going Concern

The Trustees have reviewed the current free reserves and budget for the forthcoming financial year and having assessed the position, consider Horatio’s Garden to be a going concern. The Trustees are confident that measures taken to manage running costs, not commencing construction of new gardens until funding is secured as well as an adaptable approach to fundraising will continue to help mitigate risk.

Public Benefit

In planning the activities of the charity, the Trustees have given due regard to the Charity Commission’s guidance on public benefit. The Trustees believe that the activities of the charity clearly provide current and on-going benefit to the public.

Horatio’s Garden Shop Ltd

The online shop is run via Horatio’s Garden Shop Limited, a wholly controlled subsidiary of the charity, which transfers any profits to the charity.

Horatio’s Garden Trading Ltd

The company manages sponsorship and promotional activities for the Charity, a wholly controlled subsidiary of the charity, which transfers any profits to the charity.

Investment Policy

The charity has not held any non-cash investments during the current financial year. The Finance Committee regularly review and consider the strategic position regarding cash balances, risk and investment opportunities. During the year, cash was held in current and deposit accounts.

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Principal risks and uncertainties

The Board of Trustees have overall responsibility for risk management and consider the major risks to the charity at each quarterly Board meeting.

The Finance Committee (a subcommittee of the Board) assists the Board of Trustees in the effective discharge of responsibilities for risk review, financial reporting and internal controls. The committee meets quarterly and reviews the risks and mitigating measures. A further annual review of risks is completed by the full Board.

The Senior Management Team assess and review the risks monthly using a risk management framework helping to assess impact and address actions needed. The Finance Committee reviews the budget planning process and reviews the quarterly financial performance and financial forecasts, reviewing cashflow and use of financial resources.

A full set of policies are held and regularly reviewed and disseminated to relevant staff and volunteers.

Key Strategic Risks

An overview of our key strategic risks and the actions taken to mitigate them is summarised in the table below.

Risk How we mitigate the risk
Financial sustainability -
insufficient income to maintain
existing gardens		 Regular review of forecast income and planning.
Diversify income streams; develop investment
strategy; ensure robust reserves policy.
New garden development –
financial risk associated with new
garden build		 Professional teams engaged to cost and project
manage; fixed/capped contracts pricing where
possible; construction not started until funding
secured.
Budget set for designers to work within
contingencies set within budget.
Key personnel – loss or incapacity
of figurehead leading to loss in
confidence among donors		 Strengthen: CEO recruited with strong Senior
Management Team to support role. Trustees
regularly communicate to ensure they are
informed of charity operations.
Safeguarding - inability to
safeguard patients		 Clear safeguarding policy; annual training of
staff and volunteers; DBS checks completed.
NHS change in strategy - hospital
changes location of spinal centre or
leased garden area		 Build relationship with hospital to ensure
information flow; termination clause in leases
where possible.
Data security – security of donor
data		 Cyber security measures taken; back up of data
held at alternative location; no data is given to
thirdparties for their use.

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Governance Structure and Management

Horatio’s Garden is a Charitable Incorporated Organisation with a foundation model constitution. It was registered in England and Wales on 2 April 2013 with charity number 1151475 and subsequently with Scottish Charity Regulator on 29 January 2015 with charity number SC045386.

The Board of Trustees determine the overall strategic direction of the charity. The Board reviews the progress and performance against agreed targets as well as approving all policies and procedures. No Trustees receive remuneration. One Trustee was contracted to provide landscape services; this service contract was approved by the Board and is disclosed in note 19. Trustees’ reimbursement of expenses are disclosed in note 9.

A Senior Management Team led by the CEO is responsible for the day to day decision making for the Charity. Two Trustees, Dr Olivia Chapple and Victoria Holton, support this work as executive trustees on a voluntary basis.

Board of Trustees

Trustees are recruited and appointed in accordance with the organisation’s governing document, and mission statement and relevant legislation. Before new Trustees are appointed, the Board will determine what new attributes and knowledge are needed and then compile a role profile. New Trustees receive a full induction, and all Trustees are provided with information on the requirements and responsibilities placed on Trustees.

The Trustees who were in office during the period were: Dr Olivia Chapple (Chair of Trustees / Finance Committee) Victoria Holton (Executive Trustee) Catherine Burns David Chapple (safeguarding lead) Richard Grainger (Chair of Finance Committee) David Gregg - resigned June 2023 Lisa Stratton (whistleblowing lead) Mark Yallop (Finance Committee) James Alexander Sinclair Mohammed Belal - appointed June 2023

Remuneration Policy

The Board reviews the remuneration of the key management personnel with reference to the Charity sector benchmarks and also reviews and approves any cost of living pay increases annually for all staff.

Safeguarding

The Trustees are committed to safeguarding the welfare of vulnerable people and follow the safer recruitment process for staff and volunteers. We support a culture of safeguarding across the charity, all staff and volunteers complete safeguarding training annually. In addition, our volunteers complete induction and training required by the relevant NHS hospital.

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Statement of Trustees’ Responsibilities

The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales and Scotland requires Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that period.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008, the Charities and Trustee Investment (Scotland) Act 2005, regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended) and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Legislation in the UK governing preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved by the Board of Trustees on 13[th] September 2024 and signed on its behalf by:

Dr Olivia Chapple OBE EMH MRCGP - Trustee

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Report of the Independent Auditors Year ended 30 April 2024

Opinion

We have audited the financial statements of Horatio’s Garden (the ‘parent charity’) and its subsidiaries (the ‘group’) for the year ended 30 April 2024 which comprise the Consolidated Statement of Financial Activities, Consolidated Balance Sheet, Charity Balance Sheet, Consolidated Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements

Basis for opinion

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

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group or the parent charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

22

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information; we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in respect of which the Charities (Accounts and Reports) Regulations 2008 and the Charities Accounts (Scotland) Regulations 2006 (as amended) require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustees’ Responsibilities Statement set out on page 21, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Auditors’ responsibilities for the audit of the financial statements

We have been appointed as auditors under the Charities Act 2011 and the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with regulations made under those Acts.

Our objectives are to obtain reasonable assurance about whether the group and parent financial statements as a whole are free from material misstatement, whether due to

23

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below.

Identifying and assessing risks related to irregularities:

We assessed the susceptibility of the group and parent charity’s financial statements to material misstatement and how fraud might occur, including through discussions with the trustees, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the group and parent charity by discussions with trustees and updating our understanding of the sector in which the group and parent charity operates.

Laws and regulations of direct significance in the context of the group and parent charity include The Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005, the Charities (Accounts and Reports) Regulations 2008,the Charities Accounts (Scotland) Regulations 2006 (as amended) and guidance issued by the Charity Commission for England and Wales and the Office of the Scottish Charity Regulator.

Audit response to risks identified:

We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the parent charity’s records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the parent charity’s policies and procedures for compliance with laws and regulations with members of management responsible for compliance.

During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of noncompliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the

24

risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the parent charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008 and Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the parent charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the parent charity and the parent charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Saffery LLP

Chartered Accountants Statutory Auditors

Midland House, 2 Poole Road, Bournemouth, BH2 5QY

Date: 18 September 2024

Saffery LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

25

Consolidated Statement of Financial Activities

HORATIO'S GARDEN

Consolidated Statement of Financial Activities (including the Income and Expenditure account) For the year ended 30 April 2024

Income and expenditure
Unrestricted
Note
£
INCOME AND ENDOWMENTS FROM:
2
559,994
3
282,454
4
34,109
876,557
279,535
67,712
5
347,247
529,310
16
(631,232)
(101,922)
1,840,709
1,738,787
Donations and legacies
NET INCOME/(EXPENDITURE)
Charitable activities
Transfers between funds
NET MOVEMENT IN FUNDS
Total funds brought forward
Total expenditure
Total income
RECONCILIATION OF FUNDS:
Investment income
Trading activities
EXPENDITURE ON:
Raising funds
TOTAL FUNDS CARRIED FORWARD		 Restricted
£
2,038,997
60,799
-
2,099,796
257,154
2,541,052
2,798,206
(698,410)
631,232
(67,178)
578,934
511,756		 2024
2023
Total
Total
£
£
2,598,991
2,091,490
343,253
162,729
34,109
14,148
2,976,353
2,268,367
536,689
355,877
2,608,764
1,482,656
3,145,453
1,838,533
(169,100)
429,834
-
-
(169,100)
429,834
2,419,643
1,989,809
2,250,543
2,419,643

The above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above.

The notes on pages 29 to 43 form part of these financial statements

26

Balance Sheets

HORATIO'S GARDEN Balance Sheets As at 30 April 2024

Note
Fixed assets
Tangible fixed assets
11
Investments
12
Current assets
Stock
Debtors
13
Cash at bank and in hand
Total current assets
Liabilities
14
Net current assets
NET ASSETS
Funds
Unrestricted funds:
General funds
Designated funds
16
Restricted income funds
16
TOTAL CHARITY FUNDS
Creditors: Amounts due
within one year		 Consolidated Consolidated Charity
2024
£
21,546
-
21,546
48,201
94,166
2,261,819
2,404,186
(175,189)
2,228,997
2,250,543
731,749
1,007,038
1,738,787
511,756
2,250,543		 2023
£
22,461
-
22,461
91,544
236,403
2,618,401
2,946,348
(549,166)
2,397,182
2,419,643
958,466
882,243
1,840,709
578,934
2,419,643		 2024
2023
£
£
21,546
22,461
-
-
21,546
22,461
-
-
165,388
328,012
2,173,429
2,603,578
2,338,817
2,931,590
(170,704)
(542,055)
2,168,113
2,389,535
2,189,659
2,411,996
670,865
950,819
1,007,038
882,243
1,677,903
1,833,062
511,756
578,934
2,189,659
2,411,996

The financial statements were approved and authorised for issue by the Board of Trustees on 13th September 2024 and were signed on its behalf by:

Dr Olivia Chapple OBE EMH MRCGP Trustee

The notes on pages 29 to 43 form part of these financial statements

27

Statement of Cash Flows

HORATIO'S GARDEN

Consolidated Statement of Cash Flows For the year ended 30 April 2024

2024 2023
Notes £ £
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash provided by/(used in) operating activities a (379,637) 544,749
Cash flows from investing activities:
Proceeds from the sale or property, and other fixed assets 6019 -
Purchase of property and other fixed assets (17,073) (13,747)
Investment income - bank interest 34,109 14,148
Net cash provided by/(used in) investing activities 23,055 401
CHANGE IN CASH AND CASH EQUIVALENTS FOR THE YEAR (356,582) 545,150
Cash and cash equivalents brought forward b 2,618,401 2,073,251
CASH AND CASH EQUIVALENTS CARRIED FORWARD
AT 30 April b 2,261,819 2,618,401
a) Reconciliation of net income/(expenditure) to net cash flow from operating activities
2024 2023
£ £
Net income/(expenditure) for the year as per the
Statement of Financial Activities (169,100) 429,834
Adjusted for:
Depreciation 11,881 10,590
Loss on disposal of fixed assets 88 -
Investment income (34,109) (14,148)
(Increase)/decrease in stock 43,343 (60,411)
(Increase)/decrease in debtors 142,237 53,681
Increase/(decrease) in creditors (373,977) 125,203
Net cash (used in)/provided by operating activities (379,637) 544,749
b) Analysis of cash and cash equivalents and net debt
2024 2023
£ £
Cash at bank and in hand 2,261,819 2,618,401

28

Notes to the Financial Statements for the year ended 30 April 2024

1. Accounting policies

a) Basis of preparation of the accounts

The financial statements have been prepared under the historical cost convention, with the exception of the investments which are held at market value, and in accordance with applicable Accounting Standards in the United Kingdom, the Statement of Recommended Practice (SORP) FRS102 "Accounting and Reporting by Charities", the Charities Act 2011 and the Charities and Trustee Investment (Scotland) Act 2005 and UK Generally Accepted Practice.

Horatio's Garden meets the definition of a public benefit entity under FRS 102. There are no material uncertainties about the charity’s ability to continue as a going concern.

b) Group accounts

The group financial statements consolidate the financial statements of the Charity and its subsidiaries for the year ended 30 April. The statement of financial activities (SOFA) and the balance sheet consolidate the financial statements on a line by line basis where appropriate. Details concerning the subsidiary companies along with their results and financial position are set out in note 12. A separate Statement of Financial Activities for the charity is not presented as the Trustees do not believe it to be a material value to the users of the accounts. Details of the charity’s income and expenditure can be seen in note 16.

c) Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

d) Income

Donations and grants are recognised where there is entitlement, probability of receipt and where the amount can be measured with sufficient reliability. Income generated from fundraising events is recognised when earned.

Donated goods or services are included in the Statement of Financial Activities as both income and expenditure at a value estimated by the Trustees based on their value to the charity.

Income from Horatio’s Garden Shop Ltd is recognised at point of sale.

e) Expenditure

Expenditure is included in the Statement of Financial Activities on an accruals basis, inclusive of VAT that cannot be recovered.

Fundraising costs are those incurred in attracting donations, costs of events and sales of merchandise.

Costs incurred directly in relation to the charitable activities are allocated to those activities as they fall due.

29

Support costs are those incurred directly in support of expenditure on the objects of the charity and are allocated on the basis of time spent.

f) Stock

Stock of merchandise is valued at the lower of cost (including delivery costs) and net realisable value, after making due allowance for obsolete and slow-moving items. All stock is now purchased by the trading company Horatio’s Garden Shop Limited.

g) Tangible fixed assets and depreciation

The cost of tangible fixed assets is their purchase cost together with any incidental costs of acquisition. Items are capitalised when they cost over £1000 and have ongoing value in use to the charity.

Depreciation is calculated to write down the cost less estimated residual value of all tangible fixed assets by equal annual instalments over their expected useful lives. The rate applicable is:

Garden and office equipment: 4 years straight line

Structures built on land where the charity has no security of tenure are expensed in the year of construction.

h) Debtors

Debtors are measured at their recoverable amount.

i) Creditors and provisions

Creditors and provisions are recognised where there is a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

j) Financial instruments

The group has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

k) Fund accounting

Unrestricted funds are general funds that are available for use at the Trustees’ discretion in the furtherance of the objectives of the charity.

Designated funds are those funds which the Trustees have set aside from general funds for the benefit of a particular project.

Restricted funds are those donated, or raised, for use in a particular area or for a specific purpose. Purchases of fixed assets with restricted funds are deemed to be satisfied once the purchase has taken place and therefore these restricted fund balances are released to unrestricted general funds unless the restriction is deemed to be on a permanent basis.

30

HORATIO'S GARDEN Notes to the Financial Statements For the year ended 30 April 2024

2. Donations and legacies
Donations from individuals
Legacies
Raffle and auction income
3. Trading activities
Shop income
Sponsorship
Events income
4. Investment income
Bank interest
Donations from trusts,
foundations & companies		 Unrestricted
£
265,510
7,016
205,198
82,270
559,994
Unrestricted
£
128,566
88,760
65,128
282,454
Unrestricted
£
34,109
34,109		 Restricted
£
351,180
5,176
1,679,683
2,958
2,038,997
Restricted
£
-
2,300
58,499
60,799
Restricted
£
-
-		 Total
2024
£
616,690
12,192
1,884,881
85,228
2,598,991
Total
2024
£
128,566
91,060
123,627
343,253
Total
2024
£
34,109
34,109		 Unrestricted
£
332,458
1,244
243,629
5,183
582,514
Unrestricted
£
63,272
32,350
41,473
137,095
Unrestricted
£
14,148
14,148		 Total
Restricted
2023
£
£
197,518
529,976
-
1,244
1,309,992
1,553,621
1,466
6,649
1,508,976
2,091,490
Total
Restricted
2023
£
£
-
63,272
5,250
37,600
20,384
61,857
25,634
162,729
Total
Restricted
2023
£
£
-
14,148
-
14,148

31

HORATIO'S GARDEN Notes to the Financial Statements For the year ended 30 April 2024

5. Total Expenditure
Fundraising
costs
£
Horatio's Garden Shop
Shop purchases
76,430
Shop running costs
7,125
83,555
Horatio's Garden Trading Ltd
Running costs
631
631
Horatio's Garden South West
Fundraising costs
10,783
Garden design and build
-
Garden maintenance & running costs
-
Management, admin and support
-
10,783
Horatio's Garden Scotland
Fundraising costs
7,318
Garden design and build
-
Garden maintenance & running costs
-
Management, admin and support
-
7,318
Horatio's Garden Stoke Mandeville
Fundraising costs
11,081
Garden design and build
-
Garden maintenance & running costs
-
Management, admin and support
-
11,081
Horatio's Garden Midlands
Fundraising costs
7,075
Garden design and build
-
Garden maintenance & running costs
-
Management, admin and support
-
7,075
Horatio's Garden London & South East
Fundraising costs
15,237
Garden design and build
Garden maintenance & running costs
Management, admin and support
15,237		 5. Total Expenditure
Fundraising
costs
£
Horatio's Garden Shop
Shop purchases
76,430
Shop running costs
7,125
83,555
Horatio's Garden Trading Ltd
Running costs
631
631
Horatio's Garden South West
Fundraising costs
10,783
Garden design and build
-
Garden maintenance & running costs
-
Management, admin and support
-
10,783
Horatio's Garden Scotland
Fundraising costs
7,318
Garden design and build
-
Garden maintenance & running costs
-
Management, admin and support
-
7,318
Horatio's Garden Stoke Mandeville
Fundraising costs
11,081
Garden design and build
-
Garden maintenance & running costs
-
Management, admin and support
-
11,081
Horatio's Garden Midlands
Fundraising costs
7,075
Garden design and build
-
Garden maintenance & running costs
-
Management, admin and support
-
7,075
Horatio's Garden London & South East
Fundraising costs
15,237
Garden design and build
Garden maintenance & running costs
Management, admin and support
15,237		 Direct
costs
£
-
-
-
-
-
-
-
92,746
1,680
94,426
-
-
122,721
2,004
124,725
-
-
109,084
748
109,832
-
-
74,341
799
75,140
110,386
586
110,972		 Support
Total
costs
2024
£
£
-
76,430
-
7,125
-
83,555
-
631
-
631
-
10,783
-
-
92,746
65,190
66,870
65,190
170,399
-
7,318
-
-
-
122,721
65,190
67,194
65,190
197,233
-
11,081
-
-
-
109,084
69,846
70,594
69,846
190,759
-
7,075
-
-
-
74,341
65,190
65,989
65,190
147,405
15,237
-
110,386
65,190
65,776
65,190
191,399
15,237

32

HORATIO'S GARDEN Notes to the Financial Statements For the year ended 30 April 2024

Note 5 Continued

Horatio's Garden Wales
Fundraising costs
7,987
Garden design and build
-
Garden maintenance & running costs
-
Management, admin and support
-
7,987
Horatio's Garden Northern Ireland
Fundraising costs
48,577
Garden design and build
-
Garden maintenance & running costs
-
Management, admin and support
-
48,577
Horatio's Garden Sheffield & East
Fundraising costs
74,096
Garden design and build
-
Garden maintenance & running costs
-
Management, admin and support
-
74,096
Restricted Core Grants
Fundraising costs
75,000
Garden maintenance & running costs
Management, admin and support
-
75,000
Support
Management, admin and support
195,349
195,349
536,689		 Horatio's Garden Wales
Fundraising costs
7,987
Garden design and build
-
Garden maintenance & running costs
-
Management, admin and support
-
7,987
Horatio's Garden Northern Ireland
Fundraising costs
48,577
Garden design and build
-
Garden maintenance & running costs
-
Management, admin and support
-
48,577
Horatio's Garden Sheffield & East
Fundraising costs
74,096
Garden design and build
-
Garden maintenance & running costs
-
Management, admin and support
-
74,096
Restricted Core Grants
Fundraising costs
75,000
Garden maintenance & running costs
Management, admin and support
-
75,000
Support
Management, admin and support
195,349
195,349
536,689		 -
16,835
79,028
243
96,106
-
1,118,214
45,632
9,903
1,173,749
-
195,386
88
4,303
199,777
-
-
92,247
92,247
60,906		 -
7,987
-
16,835
-
79,028
55,877
56,120
55,877
159,970
-
48,577
-
1,118,214
-
45,632
32,595
42,498
32,595
1,254,921
-
74,096
-
195,386
-
88
-
4,303
-
273,873
-
75,000
-
45,000
137,247
45,000
212,247
6,806
263,061
75,000
195,349
195,349 60,906 6,806
263,061
2,137,880 470,884
3,145,453
536,689

33

HORATIO'S GARDEN Notes to the Financial Statements For the year ended 30 April 2024

5.
Fundraising
costs
£
Horatio's Garden Shop
Shop purchases
41,817
Shop running costs
11,730
53,547
Horatio's Garden South West
Fundraising costs
9,657
Garden design and build
-
Garden maintenance & running costs
-
Management, admin and support
-
9,657
Horatio's Garden Scotland
Fundraising costs
12,548
Garden design and build
-
Garden maintenance & running costs
-
Management, admin and support
-
12,548
Horatio's Garden Stoke Mandeville
Fundraising costs
10,847
Garden design and build
-
Garden maintenance & running costs
-
Management, admin and support
-
10,847
Horatio's Garden Midlands
Fundraising costs
8,618
Garden design and build
-
Garden maintenance & running costs
-
Management, admin and support
-
8,618
Horatio's Garden London & South East
Fundraising costs
8,183
Garden design and build
-
Garden maintenance & running costs
-
Management, admin and support
-
8,183
Horatio's Garden Wales
Fundraising costs
20,541
Garden design and build
-
Garden maintenance & running costs
-
Management, admin and support
-
20,541
Total Expenditure
Prior Year Comparative		 5.
Fundraising
costs
£
Horatio's Garden Shop
Shop purchases
41,817
Shop running costs
11,730
53,547
Horatio's Garden South West
Fundraising costs
9,657
Garden design and build
-
Garden maintenance & running costs
-
Management, admin and support
-
9,657
Horatio's Garden Scotland
Fundraising costs
12,548
Garden design and build
-
Garden maintenance & running costs
-
Management, admin and support
-
12,548
Horatio's Garden Stoke Mandeville
Fundraising costs
10,847
Garden design and build
-
Garden maintenance & running costs
-
Management, admin and support
-
10,847
Horatio's Garden Midlands
Fundraising costs
8,618
Garden design and build
-
Garden maintenance & running costs
-
Management, admin and support
-
8,618
Horatio's Garden London & South East
Fundraising costs
8,183
Garden design and build
-
Garden maintenance & running costs
-
Management, admin and support
-
8,183
Horatio's Garden Wales
Fundraising costs
20,541
Garden design and build
-
Garden maintenance & running costs
-
Management, admin and support
-
20,541
Total Expenditure
Prior Year Comparative		 Direct
costs
£
-
-
-
-
-
64,237
6,496
70,733
-
1,363
80,217
1,089
82,669
-
5,833
66,135
421
72,389
-
156
57,002
700
57,858
-
40,252
72,087
1,738
114,077
-
112,726
54,962
6,415
174,103		 Support
Total
costs
2023
£
£
-
41,817
-
11,730
-
53,547
-
9,657
-
-
64,237
45,277
51,773
45,277
125,667
-
12,548
-
1,363
-
80,217
48,760
49,849
48,760
143,977
-
10,847
-
5,833
-
66,135
50,501
50,922
50,501
133,737
-
8,618
-
156
-
57,002
50,501
51,201
50,501
116,977
-
8,183
-
40,252
-
72,087
52,242
53,980
52,242
174,502
-
20,541
-
112,726
-
54,962
48,760
55,175
48,760
243,404
53,547
9,657
-
-
-
9,657
12,548
-
-
-
12,548
10,847
-
-
-
10,847
8,618
-
-
-
8,618
8,183
-
-
-
8,183
20,541
-
-
-
20,541

34

HORATIO'S GARDEN Notes to the Financial Statements For the year ended 30 April 2024

Prior Year Comparative continued

Horatio's Garden Northern Ireland
Fundraising costs
Garden design and build
Garden maintenance & running costs
Management, admin and support
Horatio's Garden Sheffield & East
Fundraising costs
Garden design and build
Garden maintenance & running costs
Management, admin and support
Restricted Core Grants
Fundraising costs
Management, admin and support
Support
Management, admin and support		 72,540
-
-
-		 -
283,028
1,824
7,950
292,802
-
139,070
589
-
139,659
-
111,466
111,466
14,302		 -
72,540
-
283,028
-
1,824
17,414
25,364
17,414
382,756
-
11,148
-
139,070
-
589
-
-
-
150,807
-
35,000
-
111,466
-
146,466
39,143
166,693
72,540
11,148
-
-
-
11,148
35,000
-
35,000
113,248
113,248 14,302 39,143
166,693
1,130,058 352,598
1,838,533
355,877

35

HORATIO'S GARDEN Notes to the Financial Statements For the year ended 30 April 2024

6.
Support costs
Wages and staff contractors
PR and advertising
Rent and rates
Administration costs
Travel
Insurance
Audit and accountancy fees
Legal fees
Depreciation
7.
Net income/(expenditure)
This is stated after charging:
Depreciation
Operating lease rentals
Auditors' remuneration:
- audit
- non-audit
8.
Staff costs and numbers
Wages and salaries
Social security costs
Employer's pension contributions
Freelance and sub contractor costs		 2024
2023
£
£
250,448
207,679
4,318
288
26,236
25,251
107,750
52,405
26,871
12,568
16,013
14,134
12,580
16,224
21,423
19,734
5,245
4,315
470,884
352,598
Total
Total
2024
2023
£
£
11,881
10,590
19,453
19,453
12,580
10,200
-
6,024
2024
2023
£
£
886,016
605,530
63,695
48,940
22,750
15,662
972,461
670,132
6,828
8,830
979,289
678,962

During the year 2 members of staff received a termination payments totalling £24,656, of which £18,698 related to ex-gratia payments

The average number of people employed, including part- 2024 2023
time staff: No. No.
39 30

During the period under review the key management staff, as listed on the information page, received remuneration and pension benefits of £235,567 (2023 £124,779 ). 1 staff member received pay over £60,000 (2023: none)

2024 2023 No. No. Salary Band £60,000-£70,000 1 -

36

HORATIO'S GARDEN Notes to the Financial Statements For the year ended 30 April 2024

9. Trustees expenses and remuneration

Trustees are not remunerated. £529 of admin expenses was reimbursed to a Trustee during the year (2023: £104 to one Trustees). Other related party transactions are disclosed in note 19.

10. Taxation

The charitable incorporated organisation is registered as a charity under the Charities Act 2011 and as such is entitled to the exemptions under Income and Corporation Taxes Act 1988.

Tangible fixed assets
Cost
At 1 May 2023
Additions
Disposals
At 30 April 2024
Depreciation
At 1 May 2023
Charge for the year
Eliminated on disposals
At 30 April 2024
Net book value
At 30 April 2024
At 30 April 2023		 Office
equipment
41,929
10,053
(7,922)
44,060
23,718
7,648
(1,815)
29,551
14,509
18,211		 Garden
equipment
Total
£
£
142,674
184,603
7,020
17,073
-
(7,922)
149,694
193,754
138,424
162,142
4,233
11,881
-
(1,815)
142,657
172,208
7,037
21,546
4,250
22,461
Group &
charity

11. Tangible fixed assets

12. Investments

The Charity has 2 subsidiary companies.

Horatio’s Garden Shop Limited a company limited by guarantee, not having share capital, registered in England and Wales with the company number 08796025. The charity is the sole member of the company and therefore controls the activities of the company. The company runs the shop and fundraising events on behalf of the charity.

A summary of the subsidiary undertaking’s results for the year is given below:

Gross income
Gross expenditure (excluding gift aid donation)
Surplus for the year gift aided to parent charity		 2024
2023
£
£
131,067
64,667
(90,783)
(57,260)
40,284
7,407

At 30 April 2024 the company had net assets of £40,284 (2023: £7,407).

37

HORATIO'S GARDEN Notes to the Financial Statements For the year ended 30 April 2024

Note 12 continued

Horatio's Garden Trading Limited, a company limited by shares registered in England and Wales with company number 14729838 incorporated 14th March 2023. The charity is the sole shareholder. The company runs trading activites on behalf of the charity.

Gross income
Gross expenditure (excluding gift aid donation)
Surplus for the year gift aided to parent charity		 2024
2023
£
£
52,460
(32,079)
20,381
-

At 30 April 2024 the company had net assets of £20381

38

HORATIO'S GARDEN Notes to the Financial Statements For the year ended 30 April 2024

13.
Debtors
2024
2023
£
£
Trade debtors
20,405
27,379
Gift aid receivable
28,109
10,012
Amount due from trading subsidiarie
-
-
Prepayments and accrued income
45,652
199,012
94,166
236,403
Consolidated		 2024
2023
£
£
14,013
25,422
28,109
10,012
79,734
94,960
43,532
197,618
165,388
328,012
Charity

Included in the amounts due from the trading company is a loan of £39,000. This loan is subject to interest of 1% above the base rate.

14. Creditors: amounts due within one year

Trade creditors
Other taxation and social security
Accruals and deferred income
Amount due to trading subsidiary
Provisions For Liabilities		 2024
2023
£
£
36,416
381,012
16,685
18,264
122,088
149,890
-
-
175,189
549,166
-
-
Consolidated		 2024
2023
£
£
31,685
381,012
17,921
18,271
120,922
142,632
176
140
170,704
542,055
-
-
Charity
15.
Analysis of net assets between funds
Unrestricted funds
Net assets at the end of the year
Unrestricted funds
Net assets at the end of the year
Comparative statement of funds for the year ended 30
Designated funds
Restricted funds
Restricted funds
Designated funds		 Fixed
assets
£
21,546
-
-
21,546
Fixed
assets
£
22,461
-
-
22,461
April 2023:		 Net
current
Total
£
£
710,203
731,749
1,007,038
1,007,038
511,756
511,756
2,228,997
2,250,543
Net
current
assets
Total
£
£
936,005
958,466
882,243
882,243
578,934
578,934
2,397,182
2,419,643

39

HORATIO'S GARDEN Notes to the Financial Statements For the year ended 30 April 2024

16. Statement of funds
Unrestricted funds:
Scotland Garden
Stoke Mandeville Garden
Midlands Garden
London & South East Garden
Wales Garden
Northern Ireland Garden
Sheffield & East Garden
Restricted Core Funding
Middlesbrough Garden
South West Garden
South West Garden
Scotland Garden
Stoke Mandeville Garden
Midlands Garden
London & South East Garden
Wales Garden
Northern Ireland Garden
Sheffield & East Garden
Repairs and Maintenance Fund
Restricted funds:
Designated funds:
General charity funds
Trading subsidiary funds		 Balance at
1.05.23
£
944,789
13,677
958,466
23,095
10,000
1,523
27,665
12,923
20,908
150,000
100,000
536,129
882,243
13,152
139,153
22,348
18,250
1,140
1,689
356,820
2,100
6,393
17,889
578,934		 Incoming
resources
£
693,031
183,526
876,557
-
-
-
-
-
-
-
-
-
-
111,713
75,819
114,803
73,302
157,865
82,749
503,284
767,051
625
212,585
2,099,796
2,976,353		 Outgoing
resources
£
(263,062)
(84,185)
(347,247)
-
-
-
-
-
-
-
-
-
-
(170,399)
(197,233)
(190,759)
(147,405)
(191,399)
(159,970)
(1,254,921)
(273,873)
-
(212,247)
(2,798,206)
(3,145,453)		 Transfers
to/(from)
Balance at
30.04.24
£
£
(748,620)
626,138
(7,407)
105,611
(756,027)
731,749
-
23,095
-
10,000
-
1,523
-
27,665
-
12,923
-
20,908
165,000
315,000
-
100,000
(40,205)
495,924
124,795
1,007,038
75,973
30,439
72,508
90,247
80,927
27,319
72,265
16,412
110,427
78,033
63,864
(11,668)
81,172
(313,645)
74,096
569,374
-
7,018
-
18,227
631,232
511,756
-
2,250,543
2,419,643

Summary of funds by garden:

Repairs and Maintenance
Other funds
Midlands Garden
London & South East Garden
Wales Garden
Northern Ireland Garden
Sheffield & East Garden
Restricted Core Funding
Middlesbrough Garden
Stoke Mandeville Garden
South West Garden
Scotland Garden		 Balance at
1.05.23
£
36,247
149,153
23,871
45,915
14,063
22,597
506,820
102,100
6,393
17,889
536,129
958,466
2,419,643		 Incoming
resources
£
111,713
75,819
114,803
73,302
157,865
82,749
503,284
767,051
625
212,585
-
876,557
2,976,353		 Outgoing
resources
£
(170,399)
(197,233)
(190,759)
(147,405)
(191,399)
(159,970)
(1,254,921)
(273,873)
-
(212,247)
-
(347,247)
(3,145,453)		 Transfers
to/(from)
Balance at
30.04.24
£
£
75,973
53,534
72,508
100,247
80,927
28,842
72,265
44,077
110,427
90,956
63,864
9,240
246,172
1,355
74,096
669,374
-
7,018
-
18,227
(40,205)
495,924
(756,027)
731749
-
2,250,543

40

HORATIO'S GARDEN Notes to the Financial Statements- Prior Year Comparative For the year ended 30 April 2024

16.
Unrestricted funds:
South West Garden
Scotland Garden
Stoke Mandeville Garden
Restricted funds:
Midlands Garden
Restricted Core Funding
London & South East
Wales Garden
Northern Ireland Garden
Repairs and Maintenance
Sheffield & East Garden
Designated funds:
Trading subsidiary funds
General charity funds
Statement of funds
Prior Year Comparative
South West Garden
Scotland Garden
Midlands Garden
London & South East
Wales Garden
Stoke Mandeville Garden
Restricted Core Funding
Northern Ireland Garden
Sheffield & East Garden		 Balance at
1.05.22
£
776,851
21,827
798,678
23,095
10,000
1,523
27,665
12,923
20,908
150,000
150,000
-
580,000
976,114
491
111,401
703
229
363
78
46,556
-
55,196
215,017
1,989,809		 Incoming
resources
£
669,090
64,667
733,757
-
-
-
-
-
-
-
-
-
-
-
93,028
123,029
104,882
84,498
75,979
159,215
675,520
109,300
109,159
1,534,610
2,268,367		 Outgoing
resources
£
(166,693)
(53,547)
(220,240)
-
-
-
-
-
-
-
-
-
-
-
(125,667)
(143,977)
(133,737)
(116,977)
(174,502)
(243,404)
(382,756)
(150,807)
(146,466)
(1,618,293)
(1,838,533)		 Transfers
to/(from)
Balance at
30.04.23
£
£
(334,459)
944,789
(19,270)
13,677
(353,729)
958,466
-
23,095
-
10,000
-
1,523
-
27,665
-
12,923
-
20,908
-
150,000
(50,000)
100,000
-
-
(43,871)
536,129
(93,871)
882,243
45,300
13,152
48,700
139,153
50,500
22,348
50,500
18,250
99,300
1,140
85,800
1,689
17,500
356,820
50,000
8,493
-
17,889
447,600
578,934
-
2,419,643

Summary of funds by garden:

Restricted Core Funding
Other funds
South West Garden
Scotland Garden
Stoke Mandeville Garden
Midlands Garden
London & South East
Wales Garden
Northern Ireland Garden
Repairs and Maintenance
Sheffield & East Garden		 Balance at
1.05.22
£
23,586
121,401
2,226
27,894
13,286
20,986
196,556
150,000
55,196
580,000
798,678
1,989,809		 Incoming
resources
£
93,028
123,029
104,882
84,498
75,979
159,215
675,520
109,300
109,159
-
733,757
2,268,367		 Outgoing
resources
£
(125,667)
(143,977)
(133,737)
(116,977)
(174,502)
(243,404)
(382,756)
(150,807)
(146,466)
-
(220,240)
(1,838,533)		 Transfers
to/(from)
Balance at
30.04.23
£
£
45,300
36,247
48,700
149,153
50,500
23,871
50,500
45,915
99,300
14,063
85,800
22,597
17,500
506,820
-
108,493
-
17,889
(43,871)
536,129
(353,729)
958466
-
2,419,643

41

HORATIO'S GARDEN Notes to the Financial Statements For the year ended 30 April 2024

16. Statement of funds (continued)

Designated funds: these represent funds set side for future developments and on going garden During the year £165,000 was designated to Northern Ireland Construction costs.

Restricted funds: funds are raised whilst gardens are in development and are restricted to funding the work at those specific locations once it begins. Funds relating to completed gardens represent funds raised for ongoing garden running costs at those specific locations.

Core funds: these are restricted funds for operational costs but are not garden specific

During the year £30,000 was transferred to London & South East restricted funds that had previously been classed as unrestricted, following clarification from the Donor

17. Operating lease commitments

As at 30 April the charity and group had total future minimum lease payments under noncancellable operating leases for equipment as follows:

Less than 1 year
Between 2 and 5 years		 2024
2023
£
£
19,453
19,453
8,923
28,376
28,376
47,829

18. Future commitments

Expenditure for garden build authorised and contracted for but not provided for in the accounts amount to £1,066,161 for the Sheffield Garden (2023: £1,040,687 for the Northern Ireland Garden).

19. Related party transactions

Horatio’s Garden Shop Limited and Horatio's Garden Trading are wholly owned subsidiaries of the charity.

In April 2015 the charity loaned Horatio's Garden Shop Ltd £29,000, with an interest rate of 1% above base rate, to the company for working capital and additional loan of £60,000 was made to the Shop for purchases for the RHS Chelsea Flower show in 2023. £50,000 of this loan was repaid after RHS Chelsea. Interest of £3,453 (2023: £1,445) was charged in the year. This loan is repayable on demand. The transactions between the entities in the year are in relation to the interest on the loan noted above .A management fee to the charity in connection with administration and stock control of £3,775 was charged (2023: £2,268) and gift aid payable of £7,407 (2023: £19,270). Sales of £2,501 were made from the subsidiary for stock used by the charity (2023:£1,395). Horatio's Garden Trading owes the Charity management fees of £31,448. At the year end the subsidiary companies owed the charity a total of £79,909 (2023: £94,881) which included the loan.

The trustees have made donations, individually or through charitable trusts controlled by the trustees, to the charity during the year £5,607 (2023: £2598).

James Alexander Sinclair is a Trustee, he has continued to provide Garden and Landscaping services for the Scotland garden as the original Garden designer. The board of Trustees consider this to be appropriate. Payment for the year totalled £2,505 (2023:£3,760).

42

Consolidated Statement of Financial Activities Comparative Balances for year ended 30 April 2023

HORATIO'S GARDEN Consolidated Statement of Financial Activities (including the Income and Expenditure account) For the year ended 30 April 2023

Income and
expenditure
Note
INCOME AND
ENDOWMENTS
FROM:
Donations and legacies
2
Trading activities
3
Investment income
4
Total income
EXPENDITURE ON:
Raising funds
Charitable activities
Total expenditure
5
NET INCOME/(EXPENDITURE)
Transfers between funds
16
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
£
582,514
137,095
14,148
733,757
166,795
53,445
220,240
513,517
(447,600)
65,917
1,774,792
1,840,709		 Restricted
£
1,508,976
25,634
-
1,534,610
189,082
1,429,211
1,618,293
(83,683)
447,600
363,917
215,017
578,934		 Total
£
2,091,490
162,729
14,148
2,268,367
355,877
1,482,656
1,838,533
429,834
-
429,834
1,989,809
2,419,643

43