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2022-12-31-accounts

Page
Chairman's
Foreword
Our Activities . .2-4
Strategic Report:
Achievements
and
Performance. .....5-9
Financial Review. ...10-12
Plans for Future Periods ..... .....13-14
Principal
Risks and
Uncertainties. ...15
Special Thanks. . ...16
Structure, Governance and Management. .....17-18
Legal Status.. .19
Objects ofthe Charity. ...19
Public Benefit. .....19-20
Policies. .....21-22
Statement ofTrustees' Responsibilities ..... 23
Independent
Auditor's
Report.. .....24-26
Group Statement of Financial Activities .. .....27-28
Group Balance Sheet ...29
Charity Balance Sheet. 30
Group Statement ofCash Flows .. 31
Notes to the Financial Statements .. 32-46
Officers, Committees and Advisers ofthe Charity . ....47-48

as free reserves :
General Designated Restricted 2022 2021
Funds Funds Funds Total Total
fm fm Em fm Em
Balance Sheet value 6.7 58.1 1.2 66.0 76.0
LeSS: FiXed ASSetS (Lund & buildings, ir, ercj (0.9) (4.8) - (5.7) (5,9)
Working Capital(cash nr bnn(c univ) 0.4 04 08
5.4 53.3 1.2 59.9 69.3
Gardeners
Royal Benevolent
Funds (42.4) - (42.4) (48.8)
Gardens
Funds
(8.1) - (8.1) (9.7)
Lironi Training Fund (2.8) - (2.8) (3.3)
Children's
Fund
1 2 1 2 13
Free Reserves 5.4 6.2

Perennial
has a relatively
low and stable risk profile,
with risks that typically can only be managed
rather
than eliminated.
Risk Mitigation
Financial impact ofan unexpected
and prolonged
Regular review offundraising
strategy;
maintain
a
shortfall
in income, possibly as a result ofa global
high level ofreserves
in designated
funds to
pandemic or other shock to the world economy provide a reliable core component
of investment
caused by a geopolitical
event outside ofour
income and a cash cushion.
control. Regular review ofcash position, cash flow forecasts
and other financial
data.
Financial impact ofsignificant
investment
losses,
Regular review of robust investment
policy.
possibly as a result ofa severe downturn
in global
stock markets due to a geopolitical
event outside
ofour control.
Maintain
appropriate
level ofdiversification
across
and within
porffolios
in line with investment
policy.
I-lalf-yearly
performance
reviews with investment
managers;
monitor quarterly
performance
against
objectives and benchmarks.
Failure to provide the necessary
level ofservice or
Regular reviews ofoperational
statistics and other
financialsupport,
as a result ofunexpected
rises in
management
information
to monitor workloads;
demand
for our services from new and/or
existing
maintain
adequate
level ofresourcing
within
Debt
clients. Advice and Casework teams.
Failure to provide the necessary
level ofservice or
Regular monitoring
ofregulatory
landscape;
financial support, as a result ofunforeseen
changes
regular staff training to ensure continuing
fitness
in regulation
or unexpected
loss ofa key member
to practice.
ofstaff. Regular knowledge-sharing
by management
team;
maintain
up-to-date
policies and procedures.
Reputational
damage
and/or financialimpact
as a
Ensure that security procedures
are up-to-date
and
result ofa major ITincident (e.g. security breach, adhered to, disaster recovery procedures
are
data loss, catastrophic
hardware
failure) leading to
reviewed
and tested regularly.
fines, claims for damages, costs to reinstate
data,
etc.

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GROUP STATEMENT OF CASH FL OWS FOR THE YEAR E NDED 31 DECEMBER 2022 DECEMBER 2022
2022 2021
EOOD EOOD EOOD EOOD
Reconciliation
ofnet income to net cash flow from operating
activities
Net (expenditure)/income
for the reporting
period (as per the SoFA) (10,083) 7,681
Depreciation
charges
225 231
Losses/(Gains)
on investments
9,050 (6,804)
Dividends,
interest and rents from investments
(1,283) (1,316)
Donation ofproperty (1,650)
(Profit) on the sale offixed assets (6)
Decrease/(Increase)
in stock
21 (36)
(Increase)/Decrease
in debtors
Increase/(Decrease)
in creditors
(189)
14
66
~55
Net cash (used In) operating
activities
(2,245) (1,889)
Cash flows from investing
activities
Dividends,
interest and rents from investments
1,283 1,316
Proceeds from the sale ofproperty,
plant and equipment
33
Purchase ofproperty,
plant and equipment
(21) (79)
Proceeds from the sale ofinvestments 33,485 19,838
Purchase ofinvestments L332443311 ~18969
Net cash generated
from investing
activities
2316 2 139
Change
in cash and cash equivalents
in the reporting period 71 250
Cash and cash equivalents
at the beginning
ofthe reporting period 1346 1096
Cash and cash equivalents
atthe end
ofthe reporting period ~14 ~1346
Analysis ofChanges
in Cash and Cash Equivalents
At iian 2022 Cash flows Other non-cash At 31Dec2022
EOOD EOOD EOOD EOOD
Notice deposits (less than 12months) 500 533 1,033
Cash 846 L462) 384
Total cash and cash equivalents 1346 71 1417

The total fund balance as shown
in the Statement
of F
inancial
Activities
is analysed
as:
2022 2021
EOOO EOOD
Charity general funds 6,685 7,813
Net assets oftrading company
Group general funds ~66 3 2JISS
The net assets that comprise general funds are shown on the Group and Charity Balance Sheets.

Transfers were m ade at 31December 202 2 as follows:
General Designated Restricted 2022
Fund Funds Funds Total
EOOD EOOO EOOD EOOO
Transfer general funds to re-align balances in designated funds (1,740) 1,740
Designate general funds to cover running costs ofThe Laskett ~260 260
~2000

2022 2021
EOOD EOOO EOOD EOOO
Results oftrading subsidiary:
Turnover 553 461
Cost ofsales (252) (205)
Distribution
costs
(47) (59)
Administration
costs
~255 ~180
~554 444
Trading (loss)/profit
from subsidiary
before payments to/from Charity (1) 17
Payments
(to)/from
Charity:
Loan interest payable to Charity (1) (1)
Management
charges
P) (7)
Donor recruitment
charges
4 14
Marketing
benefit charge
5
Recharged costs ofshared activities 5
16
Profit ofsubsidiary
for the year
(before taxation and Gift Aid donation to Charity) 33
Gift Aid donation to Charity ~33
(Decrease)/Increase
in funds of
subsidiary
for the
year L33)
Net assets ofsubsidiary
Donations to Charity arising from customer orders 23
Other donations
to Charity generated
by subsidiary's activities 4
10.Investment
Income
2022 2021
EOOO EOOD
Income from
UK listed investments
1,027 1,118
Income from
UK listed property
funds 213 198
Interest from short term cash deposits 43

2022 2021
f000 f000
Government grants (Coronavirus Job Retention Scheme) 32
Other miscellaneous items

18.Items Included
Within
Total Expenditure
2022 2021
EOOO EOOO
Audit fees 21 18
Depreciation 225 231
14.Staff Costs
Key Mgmt Other 2022 Key Mgmt Other 2021
Personnel Staff Total Personnel Staff Total
EOOO EOOO EOOO EOOO EOOO EOOO
Wages &salaries 352 1,933 2,285 336 1,696 2,032
Pension contributions 23 107 130 22 93 115
375 2,040 2,415 358 1,789 2,147
Social security costs 36 175 211 34 151 185
Group life cover 2 12 14 2 12 14
413 2 227 2J)5Q ~5 ~346

15a.
Tangible
Fixe d A ssets (Group and Charity)
Freehold Property Furniture & Computer Motor Total
Office Other Equipment Equipment Vehicles
EOOO EOOD EOOD EOOD EOOD EOOD
Cost orvaluation:
At 1January 2022 1,145 5,862 211 289 187 7,694
Additions 11 10 21
n;,
At 31December 2022 1145 5 62 2 2 299 1 7
Depreciation:
At 1January 2022 299 1,034 95 256 130 1,814
Charge for the year 21 139 33 18 14 225
At 31December 2022 320 73 128 274 2 39
Net BookValue:
At 31December 2022 825 4 94 25 43 5 7
At 31December 2021 46 482 33 5 880
15b.
Tangible
Fixed Assets —Details of Freehold Properties
Year of 2022 2021
Acquisition Value Value
EOOO EOOD
Leatherhead
Office:
Kingston
Road, Leatherhead
2007 1145
Retirement
Houses:
Comberton
Road, Barton,
Cambs (6 bungalows) 1968 544 544
Leigh Road, New Milton, Hants (1bungalow)* 2002 225 225
Manor Way, Henfield, Sussex (1bungalow) 2005 190 190
959 959
Gardens:
Fullers
Mill (garden)
2013 304 304
Fullers
Mill (house)'
2018 575 575
York Gate 1994 1,008 1,008
York Gate Cottage 2015 1,366 1,366
The Laskett'* 2021 1650 1 650
4903 ~49 3

Listed Property Cash for 2022 2021
Investments Fund Investment Total Total
EOOO EOOO EOOD EOOD EOOD
Market value at 1January 59,987 5,312 2,433 67,732 61,797
Purchases ofinvestments 25,993 1,000 5,438 32,431 18,969
Disposals at carrying value (33,485) (33,485) (19,838)
Revaluations 8494 556 9050 6804
Market value at 31December (Group) 44,001 5,756 7,871 57,628 67,732
Investment in subsidiary' 28 28
Market value at 31December (Charity) 44
1
~77
*The Charity owns 100SSofthe shares ofGRBS(Enterprises) Ltd

All UK Property investments
are held in UK listed Common
17.Stock
Investment
Funds.
Group Charity
2022 2021 2022 2021
EOOD EOOD EOOO EOOD
Goods for resale 78 72
Plant stock for resale 13 40
112
18. Debtors
Group Charity
2022 2021 2022 2021
EOOD EOOD EOOD EOOD
Trade debtors 20 10 18 10
VAT Recoverable 11 6 1
Prepayments 84 114 70 110
Accrued legacies 472 348 522 348
Other accrued income 112 49 61 48
Other debtors 73 56 72 55
Due from subsidiary 70 67
814 QR
19.Short Term Cash Investments
Group Charity
2022 2021 2022 2021
EOOD EOOD EOOD EOOD
Deposit and notice accounts ~13 SOJ)

21. Creditors: amounts
falling due within on
e year
Group Charity
2022 2021 2022 2021
EOOD EOOD EOOD EOOD
Trade creditors 91 81 78 76
1axation and social security 46 44 46 44
Accruals 95 129 88 122
Provision for benefits payable 21 14 21 14
Deferred income 43 21 43 21
Other creditors 56 49 56 49
352 ~38 332 326

2022 2021
EOOD EOOO