2025-04-30-accounts - Horatio's Garden

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Report of the Trustees and Consolidated Financial Statements For the year ended 30 April 2025

Charity registration number: England & Wales 1151475 Scotland SCO45386

Horatio’s Garden

Index to the Financial Statements For the year ended 30 April 2025

	Page
Reference and Administrative Details	3
Welcome from the Chair of Trustees	6
Report from the Chief Executive	8
Report of the Trustees	10
Report of the Independent Auditors	23
Consolidated Statement of Financial Activities	27
Balance Sheets	28
Statement of Cash Flows	29
Notes to the Financial Statements	30

Reference and Administrative Details

Royal Patron HRH Princess Eugenie of York President The Countess of Radnor Ambassadors Lord Bilimoria DL Dame Emma Bridgewater DBE Maggie Cameron Adam Frost Frank Gardner OBE Mel Giedroyc David Gregg Sir Algernon Heber-Percy KCVO John Illsley 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 CBE VMH DL Andrew Widdowson Trustees Dr Olivia Chapple OBE EMH MRCGP (Chair) James Alexander-Sinclair Mohammed Belal FRCS Catherine Burns David Chapple FRCS Richard Grainger Victoria Holton (Executive Trustee) Lisa Stratton Mark Yallop CBE

Key Management Staff Katie Tait – CEO

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

Horatio’s Garden Charity

People with spinal injuries need gardens like these. That’s what we believe at Horatio’s Garden and is why we build and look after extraordinary gardens in the heart of NHS spinal injury centres.

Spinal injury can happen to anyone at any time. The results are life-changing and devastating. Life may never be the same again for you or for your family and friends around you. You will spend three to nine months and often longer in a specialist spinal injury centre often far from home. You are 56% more likely to experience mental health issues with a fourfold increased risk of suicide.

We know how critical it is to have an incredible garden on offer right outside the hospital ward as a critical part of the rehabilitation pathway. Places for reflection and adjustment, privacy and solace, joy and companionship to all who need it. We lead gardening sessions to grow and cultivate plants, arts workshops to discover new skills and a programme of live music and events.

We want to make sure that everyone who spends time in a spinal injury centre in the UK has a Horatio’s Garden. To date we have opened eight gardens in the South West, Scotland, Stoke Mandeville, Midlands, London & South East, Wales, Northern Ireland and the latest, eighth garden, opened in April 2025 in Sheffield. We are fundraising for Horatio’s Garden North, our ninth garden in Middlesbrough and hope to start construction in 2026.

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 with a 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 the people who love them facing long stays in hospital, as well as NHS staff.

Values

Empowering People

We are dedicated to supporting people with a 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 rehabilitation process 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.

Welcome from the Chair of Trustees

This year more people than ever have contributed to Horatio’s Garden – a powerful testimony to the importance of our work and recognition of the extraordinary difference we make in the aftermath of spinal cord injury. Horatio’s Garden only grows because of the remarkable support from extremely committed people – whether donors, volunteers or trustees - I am so grateful to everyone involved.

In June 2024 we celebrated the official opening of Horatio’s Garden Northern Ireland with patients, families, volunteers and NHS staff, along with people from the civic communities in Belfast. It was a very significant occasion, marking the charity’s future, serving people from across the whole of the United Kingdom.

After a long winter of building, Horatio’s Garden Sheffield & East was completed and on a glorious April spring day, we welcomed patients and staff to the garden. It was incredibly moving to witness people exploring the garden for the first time and to hear their initial reactions to the transformation of the car park into a beautiful place.

The capital campaign for Horatio’s Garden at Sheffield’s Princess Royal Spinal Injuries Centre – the UK’s second largest spinal injury centre – was successful thanks to generosity from many individuals and charitable trusts. We are particularly grateful to Project Giving Back, The Band Trust, National Garden Scheme, Sanita Merali Trust, Garfield Weston Foundation, the Sheffield Hospitals Charity, Pears Foundation, Geoff and Fiona Squire Foundation, The Clothworkers’ Foundation, The Margaret Fisher Charitable Trust, The Bernard Sunley Foundation and Matthew & Frances Lindsey-Clark.

As our reach broadens to 72% of the UK’s spinal injury centres, we continue to ensure we are delivering an evidence-based mission and this year we have worked to strengthen our quantitative and qualitative data collection thanks to a grant from the Queen Anne’s Gate Foundation. This work will inform the decisions about strategic growth of the charity, enabling us to make sure we always meet the varied needs of people with spinal injuries and their families who use Horatio’s Gardens and can respond to changes in service delivery by the NHS.

The year marked a significant step forward for the organisation with the appointment of our first CEO, Katie Tait. The transition has been highly successful, allowing the Board to concentrate on governance and strategic direction. The partnership between the CEO and the Board has been both strong and constructive, and the dedicated staff team continues to thrive under the new structure and Katie’s exceptional leadership. One year into this change, we are a more resilient organisation, well prepared for the future.

The charity’s work in the sphere of gardens and health and our wider contribution to inspiring improved access to nature for everyone in care settings was recognised with the Elizabeth Medal of Honour from the Royal Horticultural Society in May 2024. We are pleased to continue to advise and support other organisations working in this challenging area and thank the Aurora Trust for their facilitation of this work.

In December I was enormously proud to be presented with an OBE by His Majesty the King at Windsor Castle. This award is a tribute to everyone who has loyally supported the charity from inception, as well as to Horatio, whose ideas inspire us every day.

Thank you.

Dr Olivia Chapple OBE EMH MRCGP Founder and Chair of Trustees

Report from the Chief Executive

This has been a highly productive and innovative year at Horatio’s Garden as we lay down strong foundations for the delivery of our next five-year plan (from May 2026 – May 2031).

These foundations include:

Ensuring that the patient experience is at the heart of all we do. This year we have employed a Patient Experience Lead and a Senior Impact Researcher so that we can robustly test every aspect of our support from the initial welcome to the garden to long term relationship building with patients. The work reflects how well the gardens are operating currently and gives us the reassurance that we are offering the best possible support. Horatio’s Garden has always excelled at listening to the needs of people with spinal injuries and their families and we have built on that work by running regular patient forums in our gardens to give us clear access to these voices.
Broadening awareness of our work. This has been a standout year in terms of press coverage including launching a partnership with Country Living magazine. This has seen articles in each monthly edition reaching over 500K readers and a reach of over 1 million on social media. Country Living also joined Horatio’s Garden as a sponsor at RHS Chelsea Flower Show with a stand designed by Bunny Guinness, leading to widespread publicity and a 5-star award from RHS judges.
Diversifying our income streams. In what we know is a particularly challenging economic environment for charities we have taken measures to broaden our income streams to ensure we are not over reliant on our Trust and Foundations income. We have invested in our ‘Friends’ proposition to drive individual giving and made this the primary offering in our gardens. This approach has exceeded our expectations and delivered a 21% rise in individual giving. We have also added to our events portfolio, launching an annual ‘Tulip Lunch’ and are building support for the carol concert at St Paul’s Cathedral in 2026.
Stakeholder engagement. It is key we ensure that the people who support us on every level feel informed and thanked for their critical support. This year we launched an annual Patrons’ lunch for key individuals and a regular leadership email from our Chair. We have successfully launched our first regional Instagram account which will be rolled out in all our gardens.
Staff engagement. We launched a simpler appraisal process and a clearer structure for remuneration which has been well received by staff. This was reflected in our staff survey which found 88% of staff felt they had adequate opportunities for professional growth and development.
Capital development. As we continue in our mission to reach the 11 spinal injury centres across the UK, Horatio’s Garden Sheffield & East came to completion which supports the second biggest spinal injury centre in the UK. For our ninth planned garden, Pollyanna Wilkinson along with the architectural firm EBBA have designed a patient focused and beautiful garden for North Yorkshire in Middlesbrough. The fundraising for this is progressing well and we expect to be on site in mid-2026.

Maintaining and supporting our existing gardens. We know how critical ease of access to our gardens is for patients and this year we launched a campaign to insert doors into the wards at the Queen Elizabeth National Spinal Injuries Unit in Glasgow so that patients can reach the woodland garden easily. The project is now fully funded and has received planning permission and will be completed in 2026.
Collaboration with other spinal injury organisations. This year we joined a coalition of SCI charities to develop a Spinal Cord Injury Strategy Consultation which aims to shine a light on improving the care, support and quality of life for people living in with SCI in the UK. This is the first step in a much wider process of consultation to influence government and NHS strategy.
Working alongside the NHS. Building a strong and cohesive relationship with the NHS is key to our success. This year we were invited to speak at the Guttmann Conference, which gathers key experts in spinal injury at the James Cook University Hospital in Middlesbrough. Our impact work will continue to enhance our reputation and build the case for support within the NHS.

‘Horatio’s Garden makes a significant and profound difference to the rehabilitation of spinal injury patients and supports both their family and friends. The NHS is proud to have these fantastic gardens as a critical resource in how we deliver our care.’ Neil MacDonald Chief Executive Buckinghamshire Healthcare Trust.

It has been a rewarding and inspiring first year as CEO and I feel lucky to be leading such an extraordinary organisation. Being able to spend time with people with spinal injuries and their families and the NHS staff who care for them has been both moving and uplifting. Hearing them describe how the garden has bought them both solace and joy at the hardest of times brings home how essential our work is.

I have been consistently impressed by the dedication, efficiency and skill of the staff at Horatio’s Garden. This has been against a background of economic pressure and increased competition in the Third Sector and an increasingly overstretched NHS. With a supportive Board of Trustees and a hugely knowledgeable and dedicated Founder and Chair, we have worked together to ensure Horatio’s Garden continues to flourish and grow.

Katie Tait CEO

Report of the Trustees

Objectives, Achievements and Performance

The constitution of the charity lists the purposes to:

Create outdoor spaces called Horatio’s Gardens which are places of tranquillity and beauty at spinal injury centres
Maintaining and improving Horatio’s Gardens
Supporting people with spinal injuries and their friends and relatives to enable them to use Horatio's Gardens
Facilitating events especially in Horatio’s Gardens for people with spinal injuries, their friends, relatives and carers and for volunteers and staff at the spinal treatment centres
Training and supporting staff and volunteers who care for people with spinal injuries
Conducting research, gathering and disseminating information and working to raise awareness and further understanding as to the benefits of gardens and accessible design in health care settings, including consulting with and for interested parties

We now have eight gardens open, providing beautiful spaces for people with spinal injuries, their friends and families and NHS staff – with the eighth garden having opened in April 2025.

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

Horatio’s Garden Scotland opened as part of the Queen Elizabeth National Spinal Injuries Unit at Queen Elizabeth University Hospital, Glasgow in September 2016. The garden supports people throughout the entirety of Scotland from the Scottish Highlands down to the English border. It was created by celebrated garden designer and RHS Chair of Judges, James Alexander-Sinclair.

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

Horatio’s Garden Midlands opened at the Midland Centre for Spinal Injuries at the Robert Jones and Agnes Hunt Orthopaedic Hospital in Oswestry in September 2019. It is for people with spinal injuries from north and mid-Wales, South Mersey, Cheshire and parts of the West Midlands and was designed by acclaimed journalist and six-time RHS Chelsea Gold Medal winner, Bunny Guinness.

Horatio’s Garden London & South East opened in September 2020 at the London Spinal Cord Injury Centre at the Royal National Orthopaedic Hospital, Stanmore for adults, children and young people with spinal injuries predominantly from London, Greater London and

South East England. It was created by eight-time RHS Chelsea Gold Medal winner and renowned landscape architect, Tom Stuart-Smith.

Horatio’s Garden Wales opened as part of the Welsh Spinal Cord Injury and Neuro Rehabilitation Centre in University Hospital Llandough, Cardiff for adults, children and young people with spinal injuries, predominantly from across south and mid Wales in May 2022. It was designed by two-time RHS Chelsea Gold Medal winner, Sarah Price.

Horatio’s Garden Northern Ireland opened in December 2023 for people with spinal injuries from across the entirety of Northern Ireland as well as people staying in the Amputee Rehabilitation Unit. It was designed by Andy Sturgeon, a nine-time RHS Chelsea Gold Medal winner.

Horatio’s Garden Sheffield & East opened at The Princess Royal Spinal Injuries Centre Unit at the Northern General Hospital in Sheffield in April 2025. It supports an extensive geographical area from the West Midlands to East Anglia, South Yorkshire to Lincolnshire. The garden began its life as a show garden at RHS Chelsea Flower Show where it won Best in Show before being moved and extended to form Sheffield & East. It was designed by four-time RHS Chelsea award winners Charlotte Harris and Hugo Bugg from Harris Bugg Studio.

Horatio’s Garden North will be in the heart of the Golden Jubilee Regional Spinal Cord Injuries Centre at the James Cook University Hospital in Middlesbrough for people with spinal injuries from the Scottish border, south to Barrow-in-Furness in Cumbria on the west to Whitby in North Yorkshire on the east. It is currently being designed by Polly Wilkinson, RHS award-winning founder of Studio Pollyanna, working with EBBA Architects.

Achievements for 2024/2025

The Trustees set the following objectives.

Complete the build for Horatio’s Garden Sheffield & East In April 2025, we opened Horatio’s Garden Sheffield & East to people with spinal injuries, their families and staff. The garden is thriving and has quickly become a critical part of rehabilitation at the spinal centre.
To develop specific impact reporting and research to highlight the health benefits of Horatio’s Garden.
We have engaged a Senior Impact Researcher to work across all gardens to establish and develop quality impact performance indicators to help demonstrate the impact of the gardens on people with spinal injuries, their families and NHS staff.
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. With the successful recruitment of a Patient Experience Lead, we have developed a clear outline of the patient pathway and how the gardens can meet and reflect the needs of people with spinal injuries at every stage of their rehabilitation with the right staffing, communications and programme of support.
To continue to build a robust events pipeline

We have developed our events team to ensure we can deliver high end quality events both to thank our existing supporters and bring in new stakeholders. This year we successfully launched our first ‘Tulip Lunch’ which met all its targets and will become an annual event.

Develop a stronger Friends proposition for individual donations We have worked with our media partner Country Living to promote the Friends offer as well as developing a clear garden and events strategy and strengthening targeted communications throughout the year. We are starting to see a positive increase in regular supporters with 500 Friends by April 2025, an increase of 21% on last year.
Develop and commence a capital fundraising plan for Horatio’s Garden North at James Cook University Hospital
Polly Wilkinson has been appointed as landscape designer alongside the architectural firm EBBA. The capital appeal is well underway with commitment from National Garden Scheme, The Julia Rausing Trust, Our Hospitals Charity - the official charity of South Tees Hospitals NHS Foundation Trust and Yorkshire Charity Clay Days 2025.
To standardise the communications within each garden Following a language and tone of voice update, we have developed a strategy to update the signage, merchandise, fundraising in the gardens and look and feel of the garden rooms which is currently being rolled out across all gardens.

The Trustees set the following objectives for 2025/2026

Reach the fundraising target for Horatio’s Garden North and finalise the design and planning and tender process ready for construction.
Appoint designer and architect and start consultation process for Horatio’s Garden Yorkshire at Yorkshire Regional Spinal Injuries Centre, Pinderfields General Hospital.
To continue to develop and maintain our existing gardens. To complete the build for new doors at Horatio’s Garden Scotland from the ward into the woodland garden.
To evaluate our impact reporting and research and use these findings to continue to develop and implement the best possible patient experience in our gardens.
To continue to build a diverse income strategy including events, third party and our Friends Proposition and develop a new legacy giving strategy.
Prepare a communications and events plan for the Christmas Carol Concert at St Paul’s Cathedral in December 2026. To use the event to engage key corporate supporters in an ongoing relationship.
To complete the roll out in all gardens of our updated strategy on tone of voice, signage, merchandise and fundraising.
To develop and sign off the next 5-year plan.

Staff and Volunteers

Our garden teams have continued to grow over the last year with the recruitment of a Garden Coordinator for our Northern Ireland garden and Head Gardener and Garden Coordinator for Horatio’s Garden Sheffield & East.

We continue to partner with the charitable WRAGS (Work and Retrain as a Gardener Scheme) and currently have four trainees based in our garden. Our new Head Gardener in London & South East was previously a WRAGS trainee in the garden.

We have invested in a fixed term post of Patient Experience Lead to work with the NHS to drive the best possible experience for people with spinal injuries in our gardens and have received funding for a further fixed term post to help prove the impact and positive difference the gardens make as part of the NHS patient pathway in long term rehabilitation.

The size of our gardens and the number of spinal injury beds within the hospitals vary greatly. We are looking at different staffing models that best reflect the needs of each garden.

At the start of the financial year there were 44 staff, working the equivalent of 27.7 fulltime roles. At the end of the financial year, the charity employed 43 staff equating to the equivalent of 28.8 full-time roles.

Volunteers support every Horatio’s Garden across gardening, patient support, cake baking, fundraising or administrative roles. There are currently 206 volunteers across the UK in the gardens and at the charity’s office in Salisbury. This year, the average weekly volunteer time increased to 357 hours giving an annual total of 18,615 hours. This compares to 11,593 hours in 2023/24.

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.

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. We have formed volunteer fundraising groups for each garden who are supporting fundraising in their local region, supported by the central team who provide relevant guidance and information as required.

2024-25 saw 11% growth in fundraised income vs 2023-24, with trusts and foundations, events, corporate partnerships, legacy giving and third party fundraising all areas that increased in income. This growth has been supported with some structural changes in the team which enabled us to create a full time Events Manager and a full-time Third Party & Community Manager.

Trusts and foundation funding continued to be the primary source of income for the charity, generating £1.85 million, an increase of £136,932 from 2023-24. In a year where the trusts’ landscape has become increasingly competitive, and without a capital appeal, this growth is encouraging, and reflects our commitment to excellent donor management, impactful applications and timely and detailed reporting.

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

The AEB Charitable Trust
The Alborada Trust
ARN Foundation
Arts Council England
The Aurora Trust

The Baker Family Charitable Trust
The Caledonia Investments Charitable Foundation
The Charlotte Heber-Percy Charitable Trust
Cleopatra Trust
The Clothworkers’ Foundation
The De Laszlo Foundation
The Foyle Foundation
James Anderson Charitable Trust
The John Armitage Charitable Trust
The Linbury Trust
Moondance Foundation
Pears Foundation
Sanita Merali Trust
Yorkshire Charity Clay Days 2024

In January 2025 we publicly launched the capital appeal for our ninth garden in Middlesbrough, Horatio’s Garden North. The target for this appeal is £1.6 million and at the end of the 2024-25 financial year we had commitments of £788,874. The appeal will continue throughout 2025.

We are grateful to the generous funders who have pledged their support for this appeal:

National Garden Scheme
The Julia Rausing Trust
Our Hospitals Charity - the official charity of South Tees Hospitals NHS Foundation Trust
Yorkshire Charity Clay Days 2025

Working with our regional partnership structure we received £222,481 from our corporate supporters. This includes £10,000 from our new Corporate Friend programme which we continue to roll out across the UK.

We received legacy gifts totalling £97,771 and pay our respect and gratitude to those who chose to support us through their will. Over the next 12 months will be developing a new legacy giving strategy to support this long term income stream.

Our individual giving Friends’ programme continues to grow, reaching 500 Friends by the end of April 2025, and is a key area of development over the next financial year. The monthly donations we receive from our Friends provide a sustainable and reliable income stream for our gardens and enable us to build a community of engaged supporters. We have seen new donors join our Patrons’ programme and we thank them, alongside our loyal supporters who continue to give generous annual donations. We also thank supporters who generously donated Gifts in Kind. Donors may choose to give to a particular regional project or nationally.

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, Horatio’s Garden Northern Ireland and Horatio’s Garden Sheffield & East. They have pledged support to create Horatio’s Garden North (Middlesbrough). To date the National Garden Scheme have generously donated £675,000 to Horatio’s Garden and have made a commitment to funding a contribution to all future gardens.

We were chosen as a charity partner of the Yorkshire Charity Clay Days, which took place in May 2024, and raised significant funds for our Sheffield & East capital appeal. We are delighted to have been selected for 2025 as a charity partner in support of Middlesbrough. April 2025 saw the inaugural Tulip Lunch event take place at the Badminton Estate hosted by The Duke and Duchess of Beaufort. The event was a great success with 104 guests attending and generating over £56,000 profit for the charity.

Other event highlights included a second successful Northern Ireland carol service, led by the Northern Ireland fundraising committee, a fantastic evening at The Library of Mistakes in Edinburgh which raised funds for a capital project in the Scotland garden and a celebration drinks party for the fifth anniversary of the Midlands garden, hosted at Brynkinalt by kind permission of The Trevor Family.

2024-25 saw growth across our 3rd party events portfolio, with supporters taking on challenges around the UK and beyond. In April/May 2025 a team of 23 took part in the Paris Marathon, London Landmarks Half Marathon, Brighton Marathon, Newport Marathon, London Marathon & Hackney Half to raise an incredible combined total of £37,500! We are also delighted that employees from some of our garden partners also took on personal challenges to help raise money, including Bolt Burdon Kemp, Horwich Cohen Coghlan Solicitors, Lanyon Bowdler Solicitors, Hugh James, JMW Solicitors and Fletchers Solicitors. Martha Lane Fox completed her inspirational 3 Peaks Challenge and Elliw Dafydd scaled Mount Kilimanjaro. We are grateful to everyone who takes on a challenge in support of the charity.

The website outlines the charity’s complaints policy for the public and clearly explains how an individual can complain. We received one fundraising related complaint which was dealt with in line with the complaints policy, but it did not need to be reported to the Fundraising Regulator.

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 in our Ethical Fundraising Policy.

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 Horatio’s Garden Trading Ltd, incorporated 14th March 2023.

The accounts for the year ending April 2025, show a small net deficit for the year of £30,210. The deficit is the result of the Sheffield & East Garden construction cost being incurred substantially in the year ending April 2025 whereas our fundraising and income received has been generated over two financial years.

To minimise the risk to the Charity, the Board of Trustees will not authorise the commencement of construction of a garden until funding for the budgeted garden cost has been raised or pledged.

Total income

Total income for the year ending 30th April 2025 increased by £304,993, to £3,281,346 (2024: £2,976,353). The income includes £1,112,139 for the capital construction of gardens and a project to improve patient access within our Scotland garden.

Income from trusts, foundations and companies increased by £188,504 to £2,073,385 and Individual donations increased by £39,677 to £656,367. During the year we received £97,771 from legacies.

Trading income reduced by £120,290 due to lower sponsorship income and lower income from our subsidiary Horatio’s Garden Shop which had benefitted in the prior year from substantial sales at the 2023 RHS Chelsea Flower Show.

Restricted income for the running costs of specified gardens and/or the construction cost of new gardens was £2,453,422 and accounted for 75% of the total income. We have seen a continued trend of donors wishing to commit support to individual gardens rather than the charity as a whole. This engagement has helped secure repeated annual support helping with the sustainability of each garden.

Receivable interest increased by £35,604 to £69,713 due to the use of fixed term deposit accounts offering improved interest rates.

Total expenditure

Total expenditure for the year was £3,311,556 (2024: £3,145,453). Garden construction and design costs for the year were £1,435,018. These were predominantly construction costs for the Sheffield & East garden as construction commenced May 2024.

Operational costs for the year, excluding construction costs, increased by £61,519 to £1,876,538. Direct garden costs increased as they included a full year of Northern Ireland costs and some operational costs from January 2025 for the Sheffield & East garden.

Fundraising costs

Fundraising costs for the year were £409,812 (2024: £536,689). The reduction is due to lower event costs. The previous year had a number of additional events added to the calendar connected with our garden shown at RHS Chelsea Flower show.

Designated funds

Funds have been designated during the year for initial professional fees for a concept design and initial site surveys for Horatio’s Garden North in Middlesbrough. The fundraising campaign was launched in January 2025 and will aim to raise funding sufficient to build the garden and also to release the seed funding to be rolled over for further garden projects.

A designated fund is held for substantial repairs and maintenance of the gardens to uphold the high standard of the gardens and reduce the need to raise specific additional funding when a substantial repair is necessary. The balance at the end of the year for the maintenance fund was £450,549 with £45,375 being used for repairs during the year, the majority of which was allocated to the replacement of automatic door mechanisms in our London & South East garden.

Designated funding was released from Northern Ireland and Sheffield & East gardens as pledged income from those gardens were received during the year. The Trustees have also reviewed the need for designated funds across all gardens and the small residual balances were released back to unrestricted funds where there was no need for designated funding.

Transfer between funds

Transfers from general charity funds to restricted funds were used to cover the allocation of support costs to each of the gardens.

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:

Restricted funds, held specifically for the running costs of a garden, or the construction costs of a new garden.
Designated funds, set aside for the repair and maintenance of the gardens, as well as the seed funding of new garden build and to fund initial design and surveys. Funds are also designated where the restricted funding raised for a garden is insufficient to cover the annual running costs including that proportion of support costs allocated to the garden.
General funds are not held for any specific purpose and exclude designated and restricted funds.

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 2025-2026 will be between £693,387 and £959,210.

Total funds at the end of 2025 were £2,220,334 of which £662,183 were held as restricted funds and £815,549 as designated funds.

As of 30th April 2025, the charity held free reserves defined as unrestricted funds, less fixed assets, less designated funds of £710,757 (2024: £710,203). 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.

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 are summarised below.

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.
Manage operational costs and take mitigating actions as required.

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

CEO in place 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; where possible. Proactive involvement with NHS management responsible for new site development.

Data security – security of donor data

Cyber security measures taken; back up of data held at alternative location; no data is given to third parties for their use.

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 is 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 and Renumeration and Nomination Committee) James Alexander Sinclair Mohammed Belal Catherine Burns (Renumeration Committee) David Chapple (Safeguarding lead) Richard Grainger (Chair of Finance Committee) Victoria Holton (Executive Trustee) Lisa Stratton (Whistleblowing lead and Renumeration and Nomination Committee) Mark Yallop (Finance Committee and Renumeration and Nomination Committee)

Subcommittees of the Board:

Finance Committee
Remuneration and Nomination Committee

Remuneration policy

The Remuneration and Nomination Committee 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.

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:

Select suitable accounting policies and then apply them consistently
Observe the methods and principles in the Charities SORP
Make judgements and estimates that are reasonable and prudent
State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements
Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in business.

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.

Report of the Independent Auditors Year ended 30 April 2025

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 2025 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

give a true and fair view of the state of the affairs of the group and the parent charity at 30 April 2025 and of the group’s and the parent charity’s incoming resources and application of resources for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
have been prepared in accordance with the requirements of the Charities Act 2011; and
have been prepared in accordance with the requirements of the Charities and Trustee Investment (Scotland) Act 2005 and regulations 6 and 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended).

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.

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: the information given in the Trustees’ Annual Report is inconsistent in any material respect with the financial statements; or

the parent charity has not kept proper and sufficient accounting records; or
the parent charity’s financial statements are not in agreement with the accounting records and returns; or
we have not received all the information and explanations we require for our audit.

Responsibilities of Trustees

As explained more fully in the Trustees’ Responsibilities Statement set out on page 22, 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 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 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 Statutory Auditors

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

Date: 29 September 2025

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

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 2025

Income and expenditure Unrestricted Note £ INCOME AND ENDOWMENTS FROM: 2 618,761 3 139,450 4 69,713 827,924 184,786 120,411 5 305,197 522,727 16 (703,364) (180,637) 1,738,787 1,558,150 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 Donations and legacies NET INCOME/(EXPENDITURE) Charitable activities	Restricted £ 2,369,909 83,513 - 2,453,422 225,026 2,781,333 3,006,359 (552,937) 703,364 150,427 511,756 662,183	2025 2024 Total Total £ £ 2,988,670 2,598,991 222,963 343,253 69,713 34,109 3,281,346 2,976,353 409,812 536,689 2,901,744 2,608,764 3,311,556 3,145,453 (30,210) (169,100) - - (30,210) (169,100) 2,250,543 2,419,643 2,220,333 2,250,543

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

Balance Sheets

HORATIO'S GARDEN Balance Sheets As at 30 April 2025

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
	2025 £ 31,844 - 31,844 45,806 272,017 2,070,142 2,387,965 (199,476) 2,188,489 2,220,333 742,601 815,549 1,558,150 662,183 2,220,333	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		2025 2024 £ £ 31,844 21,546 - - 31,844 21,546 - - 325,212 165,388 2,041,149 2,173,429 2,366,361 2,338,817 (196,556) (170,704) 2,169,805 2,168,113 2,201,649 2,189,659 723,917 670,865 815,549 1,007,038 1,539,466 1,677,903 662,183 511,756 2,201,649 2,189,659

The financial statements were approved and authorised for issue by the Board of Trustees on 19th September 2025 and were signed on its behalf by:

Dr Olivia Chapple OBE EMH MRCGP Chair of Trustees

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

Statement of Cash Flows

HORATIO'S GARDEN

Consolidated Statement of Cash Flows For the year ended 30 April 2025

			2025	2024
		Notes	£	£
CASH FLOWS FROM OPERATING ACTIVITIES:
Net	cash provided by/(used in) operating activities	a	(240,839)	(379,637)
Cash flows from investing activities:
	Proceeds from the sale or property, and other fixed assets		-	6,019
	Purchase of property and other fixed assets		(20,551)	(17,073)
	Investment income - bank interest		69,713	34,109
Net	cash provided by/(used in) investing activities		49,162	23,055
CHANGE IN CASH AND CASH EQUIVALENTS FOR THE YEAR			(191,677)	(356,582)
Cash and cash equivalents brought forward		b	2,261,819	2,618,401
CASH AND CASH EQUIVALENTS CARRIED FORWARD
AT 30 April		b	2,070,142	2,261,819
a)	Reconciliation of net income/(expenditure) to net cash flow		from operating	activities
			2025	2024
			£	£
	Net income/(expenditure) for the year as per the
	Statement of Financial Activities		(30,210)	(169,100)
	Adjusted for:
	Depreciation		10,253	11,881
	Loss on disposal of fixed assets		-	88
	Investment income		(69,713)	(34,109)
	(Increase)/decrease in stock		2,395	43,343
	(Increase)/decrease in debtors		(177,851)	142,237
	Increase/(decrease) in creditors		24,287	(373,977)
	Net cash (used in)/provided by operating activities		(240,839)	(379,637)
b)	Analysis of cash and cash equivalents and net debt
			2025	2024
			£	£
	Cash at bank and in hand		2,070,142	2,261,819

Notes to the Financial Statements for the year ended 30 April 2025

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.

The Financial statements are presented in Pounds Sterling (£) which is the functional and presentation of the Charity. All amounts have been rounded to the nearest £1, unless otherwise stated.

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.

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.

l) Critical Estimates

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised

where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods’

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

HORATIO'S GARDEN Notes to the Financial Statements For the year ended 30 April 2025

2. Donations and legacies Donations from individuals Legacies Raffle and auction income 3. Trading activities Subsidiary income Sponsorship Events income 4. Investment income Bank interest Donations from trusts, foundations & companies	Unrestricted £ 290,406 30,000 280,340 18,015 618,761 Unrestricted £ 79,995 32,760 26,695 139,450 Unrestricted £ 69,713 69,713	Restricted £ 365,961 67,771 1,793,045 143,132 2,369,909 Restricted £ - 8,980 74,533 83,513 Restricted £ - -	Total 2025 £ 656,367 97,771 2,073,385 161,147 2,988,670 Total 2025 £ 79,995 41,740 101,228 222,963 Total 2025 £ 69,713 69,713	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

HORATIO'S GARDEN Notes to the Financial Statements For the year ended 30 April 2025

5. Total Expenditure Fundraising costs £ Horatio's Garden Shop Shop purchases 48,124 Shop running costs 7,687 55,811 Horatio's Garden Trading Ltd Running costs 2,424 2,424 Horatio's Garden South West Fundraising costs 9,112 Garden maintenance & running costs - Management, admin and support - 9,112 Horatio's Garden Scotland Fundraising costs 18,302 Garden design and build - Garden maintenance & running costs - Management, admin and support - 18,302 Horatio's Garden Stoke Mandeville Fundraising costs 11,375 Garden maintenance & running costs - Management, admin and support - 11,375 Horatio's Garden Midlands Fundraising costs 13,628 Garden maintenance & running costs - Management, admin and support - 13,628 Horatio's Garden London & South East Fundraising costs 23,954 Garden maintenance & running costs Management, admin and support 23,954	5. Total Expenditure Fundraising costs £ Horatio's Garden Shop Shop purchases 48,124 Shop running costs 7,687 55,811 Horatio's Garden Trading Ltd Running costs 2,424 2,424 Horatio's Garden South West Fundraising costs 9,112 Garden maintenance & running costs - Management, admin and support - 9,112 Horatio's Garden Scotland Fundraising costs 18,302 Garden design and build - Garden maintenance & running costs - Management, admin and support - 18,302 Horatio's Garden Stoke Mandeville Fundraising costs 11,375 Garden maintenance & running costs - Management, admin and support - 11,375 Horatio's Garden Midlands Fundraising costs 13,628 Garden maintenance & running costs - Management, admin and support - 13,628 Horatio's Garden London & South East Fundraising costs 23,954 Garden maintenance & running costs Management, admin and support 23,954	Direct costs £ - - - - - - 72,738 1,611 74,349 - 2,056 100,156 2,447 104,659 - 73,724 2,371 76,095 - 80,688 6,140 86,828 91,593 4,708 96,301	Support Total costs 2025 £ £ - 48,124 - 7,687 - 55,811 - 2,424 - 2,424 - 9,112 - 72,738 64,495 66,106 64,495 147,956 - 18,302 - 2,056 - 100,156 64,495 66,942 64,495 187,456 - 11,375 - 73,724 64,495 66,866 64,495 151,965 - 13,628 - 80,688 64,495 70,635 64,495 164,951 23,954 91,593 64,495 69,203 64,495 184,750
	23,954

HORATIO'S GARDEN Notes to the Financial Statements For the year ended 30 April 2025

5. Total Expenditure Fundraising Note 5 Continued costs £ Horatio's Garden Wales Fundraising costs 11,390 Garden maintenance & running costs - Management, admin and support - 11,390 Horatio's Garden Northern Ireland Fundraising costs 22,719 Garden design and build - Garden maintenance & running costs - Management, admin and support - 22,719 Horatio's Garden Sheffield & East Fundraising costs 88,099 Garden design and build - Garden maintenance & running costs - Management, admin and support - 88,099 Horatio's Garden North Fundraising costs 1,992 Garden design and build - 1,992 Restricted Core Grants Fundraising costs 24,455 Garden maintenance & running costs - Management, admin and support - 24,455 Support Management, admin and support 126,551 126,551 409,812	Direct costs £ - 76,266 3,765 80,031 - 9,365 72,603 10,617 92,585 - 1,393,597 16,754 2,260 1,412,611 - 30,000 30,000 - 135,591 - 135,591 56,292	Support Total costs 2025 £ £ - 11,390 - 76,266 64,495 68,260 64,495 155,916 - 22,719 - 9,365 - 72,603 64,495 75,112 64,495 179,799 - 88,099 - 1,393,597 - 16,754 26,873 29,133 26,873 1,527,583 - 1,992 - 30,000 - 31,992 - 24,455 - 135,591 113,945 113,945 113,945 273,991 64,119 246,962
24,455
126,551
126,551	56,292	64,119 246,962
	2,245,342	656,402 3,311,556
409,812

HORATIO'S GARDEN

Notes to the Financial StatementsHORATIO'S GARDEN Notes to the FiFor the year ended 30 Aancial Statementspril 2025 For the year ended 30 April 2025

5. Total Expenditure Fundraising Note 5 Continued costs £ Horatio's Garden Wales Fundraising costs 11,390 Garden maintenance & running costs - Management, admin and support - 11,390 Horatio's Garden Northern Ireland Fundraising costs 22,719 Garden design and build - Garden maintenance & running costs - Management, admin and support - 22,719 Horatio's Garden Sheffield & East Fundraising costs 88,099 Garden design and build - Garden maintenance & running costs - Management, admin and support - 88,099 Horatio's Garden North Fundraising costs 1,992 Garden design and build - 1,992 Restricted Core Grants Fundraising costs 24,455 Garden maintenance & running costs - Management, admin and support - 24,455 Support Management, admin and support 126,551 126,551 409,812 5. Total Expenditure Fundraising Prior Year Comparative 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 maintenance & running costs - Management, admin and support - 10,783 Horatio's Garden Scotland Fundraising costs 7,318 Garden maintenance & running costs - Management, admin and support ~~-~~ 7,318 Horatio's Garden Stoke Mandeville Fundraising costs 11,081 Garden maintenance & running cost~~s~~ ~~-~~ Management, admin and support ~~-~~ 11,081 Horatio's Garden Midlands Fundraising costs 7,075 Garden maintenance & running costs - Management, admin and support - 7,075 Horatio's Garden London & South East Fundraising costs 15,237 Garden maintenance & running costs Management, admin and support 15,237 Horatio's Garden Wales Fundraising costs 7,987 Garden design and build - Garden maintenance & running costs - Management, admin and support - 7,987	Direct costs £ - 76,266 3,765 80,031 - 9,365 72,603 10,617 92,585 - 1,393,597 16,754 2,260 1,412,611 - 30,000 30,000 - 135,591 - 135,591 56,292 Direct costs £ - - - - - - 92,746 1,680 94,426 - 122,721 ~~2,004~~ 124,725 - ~~109,084~~ ~~748~~ 109,832 - 74,341 799 75,140	Support Total costs 2025 £ £ - 11,390 - 76,266 64,495 68,260 64,495 155,916 - 22,719 - 9,365 - 72,603 64,495 75,112 64,495 179,799 - 88,099 - 1,393,597 - 16,754 26,873 29,133 26,873 1,527,583 - 1,992 - 30,000 - 31,992 - 24,455 - 135,591 113,945 113,945 113,945 273,991 64,119 246,962 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
24,455 -

126551 7,075
,
	56,292	64,119 246,962
15,237	2,245,342 110,386 ~~586~~ 110,972 - 16,835 79,028 243 96,106	656,402 3,311,556 15,237 110,386 ~~65,190~~ ~~65,776~~ 65,190 191,399 - 7,987 - 16,835 - 79,028 55,877 56,120 55,877 159,970
7,987

HORATIO'S GARDEN Notes to the Financial Statements For the year ended 30 April 2025

----- Start of picture text -----
5. Total Expenditure Fundraising Direct Support Total
Prior Year Comparative continued costs costs costs 2024
Horatio's Garden Northern Ireland
- -
Fundraising costs 48,577 48,577
- -
Garden design and build 1,118,214 1,118,214
- -
Garden maintenance & running costs 45,632 45,632
-
Management, admin and support 9,903 32,595 42,498
48,577 1,173,749 32,595 1,254,921
Horatio's Garden Sheffield & East
- -
Fundraising costs 74,096 74,096
- -
Garden design and build 195,386 195,386
Garden maintenance & running costs - 88 - 88
- -
Management, admin and support 4,303 4,303
-
74,096 199,777 273,873
Restricted Core Grants
- -
Fundraising costs 75,000 75,000
-
Management, admin and support 92,247 45,000 137,247
75,000 92,247 45,000 212,247
Support
Management, admin and support 195,349 60,906 6,806 263,061
195,349 60,906 6,806 263,061
536,689 2,137,880 470,884 3,145,453
----- End of picture text -----

HORATIO'S GARDEN Notes to the Financial Statements For the year ended 30 April 2025

6.	Support costs	2025	2024
		£	£
	Wages and staff contractors	436,599	250,448
	PR and advertising	2,088	4,318
	Rent and rates	28,023	26,236
	Administration costs	99,481	107,750
	Travel	35,751	26,871
	Insurance	21,900	16,013
	Audit and accountancy fees	17,900	12,580
	Legal fees	9,661	21,423
	Depreciation	4,999	5,245
		656,402	470,884
7.	Net income/(expenditure)	Total	Total
		2025	2024
	This is stated after charging:	£	£
	Depreciation	10,253	11,881
	Operating lease rentals	19,453	19,453
	Auditors' remuneration:
	- audit	15,740	10,540
	- non-audit	2,160	2,040
8.	Staff costs and numbers	2025	2024
		£	£
	Wages and salaries	1,078,611	886,016
	Social security costs	101,905	63,695
	Employer's pension contributions	28,890	22,750
		1,209,406	972,461
	Freelance and sub contractor costs	4,470	6,828
		1,213,876	979,289
	The average number of people employed, including part-	2025	2024
	time staff:	No.	No.
		43	39
	During the period under review the key management staff,	as listed on the information page,
	received remuneration and pension benefits of £409,816 (2024: £235,567 ).
	3 staff members received pay over £60,000 (2024: one)
		2025	2024
		No.	No.
	Salary Band £50,000-£60,000	2	1
	Salary Band £130,000-£140,000	1	-

HORATIO'S GARDEN Notes to the Financial Statements For the year ended 30 April 2025

9. Trustees expenses and remuneration

Trustees are not remunerated. £101 of admin expenses was reimbursed to a Trustee during the year (2024: £529 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 2024 Additions Disposals At 30 April 2025 Depreciation At 1 May 2024 Charge for the year Eliminated on disposals At 30 April 2024 Net book value At 30 April 2025 At 30 April 2024	Office equipment 44,060 13,197 - 57,257 29,551 6,644 - 36,195 21,062 14,509	Garden equipment Total £ £ 149,694 193,754 7,354 20,551 - - 157,048 214,305 142,657 172,208 3,609 10,253 - - 146,266 182,461 10,782 31,844 7,037 21,546 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	2025 2024 £ £ 72,431 131,067 (61,178) (90,783) 11,253 40,284

At 30 April 2025 the company had net assets of £11,253 (2024: £40,284).

HORATIO'S GARDEN Notes to the Financial Statements For the year ended 30 April 2025

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 activities on behalf of the charity.

Gross income Gross expenditure (excluding gift aid donation) Surplus for the year gift aided to parent charity	2025 2024 £ £ 16,492 52,460 (9,036) (32,079) 7,456 20,381

At 30 April 2025 the company had net assets of £7,456 ( 2024: £20,381)

HORATIO'S GARDEN Notes to the Financial Statements For the year ended 30 April 2025

13. Debtors

Trade debtors Gift aid receivable Amount due from trading subsidiaries Prepayments and accrued income	2025 2024 £ £ 28,928 20,405 5,510 28,109 - - 237,579 45,652 272,017 94,166 Consolidated	2025 2024 £ £ 28,223 14,013 5,510 28,109 53,900 79,734 237,579 43,532 325,212 165,388 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	2025 2024 £ £ 48,844 36,416 35,131 16,685 115,501 122,088 - - 199,476 175,189 - - Consolidated	2025 2024 £ £ 48,725 31,685 35,609 17,921 112,085 120,922 137 176 196,556 170,704 - - Charity

Deferred Income of £88,475 (2024:£83,400) is included within Creditors. This represents Sponsorship for future events and funding for posts currently being recruited. All deferred income held at the end of 2024 was released during the year.

15. Analysis of net assets between funds

Unrestricted funds Net assets at the end of the year Restricted funds Designated funds	Fixed assets £ 31,844 - - 31,844	Net current assets Total £ £ 710,757 742,601 815,549 815,549 662,183 662,183 2,188,489 2,220,333

Comparative statement of funds for the year ended 30 April 2024:

Unrestricted funds Net assets at the end of the year Designated funds Restricted funds	Fixed assets £ 21,546 - - 21,546	Net current assets Total £ £ 710,203 731,749 1,007,038 1,007,038 511,756 511,756 2,228,997 2,250,543

HORATIO'S GARDEN Notes to the Financial Statements For the year ended 30 April 2025

16. Statement of funds

Unrestricted funds: Repairs and Maintenance Other funds Midlands Garden London & South East Garden Wales Garden Northern Ireland Garden Sheffield & East Garden Restricted Core Funding North Garden Stoke Mandeville Garden Scotland Garden Stoke Mandeville Garden Midlands Garden London & South East Garden Wales Garden Northern Ireland Garden Sheffield & East Garden Restricted Core Funding Summary of funds by garden: South West Garden Scotland Garden North 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 Restricted Core Funding Repairs and Maintenance Fund Restricted funds: North Garden Designated funds: General charity funds Trading subsidiary funds	Balance at 1.05.24 £ 626,138 105,611 731,749 23,095 10,000 1,523 27,665 12,923 20,908 315,000 100,000 - - 495,924 1,007,038 30,439 90,247 27,319 16,412 78,033 (11,668) (313,645) 569,374 7,018 18,227 511,756	Incoming resources £ 739,001 88,923 827,924 - - - - - - - - - - - - 99,342 199,543 124,023 148,588 261,170 124,180 247,699 960,529 21,722 266,626 2,453,422 3,281,346 Incoming resources £ 99,342 199,543 124,023 148,588 261,170 124,180 247,699 960,529 21,722 266,626 - 827,924 3,281,346	Outgoing resources £ (201,587) (58,235) (259,822) - - - - - - - - - - (45,375) (45,375) (147,956) (187,456) (151,965) (164,951) (184,750) (155,916) (179,799) (1,527,583) (31,992) (273,991) (3,006,359) (3,311,556) Outgoing resources £ (147,956) (187,456) (151,965) (164,951) (184,750) (155,916) (179,799) (1,527,583) (31,992) (273,991) (45,375) (259,822) (3,311,556)	Transfers to/(from) Balance at 30.04.25 £ £ (496,586) 666,966 (60,664) 75,635 (557,250) 742,601 (23,095) - (10,000) - (1,523) - (27,665) - (12,923) - (20,908) - (100,000) 215,000 (100,000) - 150,000 150,000 - - - 450,549 (146,114) 815,549 73,607 55,432 82,797 185,131 75,870 75,247 78,123 78,172 88,449 242,902 79,849 36,445 96,625 (149,120) 114,972 117,292 1,992 (1,260) 11,080 21,942 703,364 662,183 - 2,220,333 Transfers to/(from) Balance at 30.04.25 £ £ 50,512 55,432 72,797 185,131 74,347 75,247 50,458 78,172 75,526 242,902 58,941 36,445 (3,375) 65,880 14,972 117,292 151,992 148,740 11,080 21,942 - 450,549 (557,250) 742,601 - 2,220,333
	2,250,543
	Balance at 1.05.24 £ 53,534 100,247 28,842 44,077 90,956 9,240 1,355 669,374 7,018 18,227 495,924 731,749 2,250,543

HORATIO'S GARDEN Notes to the Financial Statements For the year ended 30 April 2025

16. Statement of funds Prior Year Comparative Unrestricted funds: Wales Garden General charity funds Trading subsidiary funds Designated funds: 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: South West Garden Scotland Garden Stoke Mandeville Garden Midlands Garden London & South East Garden Northern Ireland Garden Northern Ireland Garden Sheffield & East Garden Middlesbrough Garden Restricted Core Funding Summary of funds by garden: South West Garden Scotland Garden Stoke Mandeville Garden Midlands Garden London & South East Garden Wales Garden Sheffield & East Garden Middlesbrough Garden Restricted Core Funding Repairs and Maintenance Other 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 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 £ (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) 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 £ £ (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 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) 731,749 - 2,250,543
	2,419,643
	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

HORATIO'S GARDEN Notes to the Financial Statements For the year ended 30 April 2025

16. Statement of funds (continued)

Designated funds: these represent funds set side for future developments and on going garden

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

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	2025 2024 £ £ 8,463 19,453 460 8,923 8,923 28,376

18. Future commitments

Expenditure for garden build authorised and contracted for but not provided for in the accounts amount to £44,336 for the Sheffield Garden (2024: £1,066,161 for the Sheffield Garden).

19. Related party transactions

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

The Charity has loaned Horatio's Garden Shop Ltd £39,000, with an interest rate of 1% above base rate, to the company for working capital. Interest of £1,833 (2024: £3,453) 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 (2024: £3,775) and gift aid payable of £40,283 (2024: £7407). Sales of £8,928 were made from the subsidiary for stock used by the charity (2024:£2501). Horatio's Garden Trading owes the Charity management fees of £6,612 (2024 £31,448). At the year end the subsidiary companies owed the charity a total of £53,900 (2024: £79,909) which included the loan.

The Trustees have made donations, individually £1,645 or through charitable trusts controlled by the Trustees £50,000, to the charity during the year of £51,645 (2024: £5,607).

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 £2,679 (2024:£2,505).

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 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 £ 559,994 282,454 34,109 876,557 279,535 67,712 347,247 529,310 (631,232) (101,922) 1,840,709 1,738,787	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 Total £ 2,598,991 343,253 34,109
			2,976,353
			536,689 2,608,764
			3,145,453
			(169,100) -
			(169,100) 2,419,643
			2,250,543