Registered number: Charity numbers: 08828584 1155156 SC040180 GARDENERS, ROYAL BENEVOLENT SOCIETY (COMPANY knMITED BY GUARANTEE) A0 KNOWN AS PERENNIAL TRUSTEES, ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
Gardeners. Royal Benevolent society Tru5tees' Report for the Year Ended 31 Defflber 2023 08828584 CONTENTS Page Chaiman's Foreword.......-....................... .. Our Activities.-.............................................................................................................................. ..24 Strateglc Report: Achievernents and Performance............................................................................................................... >9 Financial Review...... . 10-13 Plans for Future Periods........................................................................................................................ 14-15 Principal Risks and Uncertainties.. .16 Special Thanks.......................................... .17 Structure, Govemance and Management. 18-19 Legal Status. .20 Object5 Of the Charity...................................................................................................................................... 20 Public Benefit..... . 20-21 Policies. .22-23 Statement of Trustees. Responsibilities........................................................................................................-. 24 Independent Auditorfs Report.. .25-27 Group Statement of Financial Artivities..................................................................................................... 28-29 Group Balance Sheet......................................................................................................................................- 30 Charity Balance Sheet............................................ .31 Group Statement of Cash Flows............... .... .32 Notes to the Financial Statements... . 3347 Officers, Committee5 and Advisers of the Charity.....................................................................................48-49
Gardeners. Royal Benevolent Society Trustees, Report forthe Year Ended 31 Dernber2023 08828584 CHAIRMAN'S FOREWORD 2023 has witnessed significant increase in both the demand for the services Perennial provides and in the complexity of cases. This is predominantty underpinned by the continuing Cost of IFving crisis and whilst inflation is forecast to fall more gradually in 2024, current economic projections indicate that wages are not, in real terms, expected cotch up with prices until 2027. As such. the issues faced by people workin8 in horticulture a5 a result of the cost-of-INing crisis are set to continue. Nevertheless. against this background Perennial remains well placed to continue to provide the vitsl help and support that is needed. During 2023. Perennial provided infomlation. advice and support to 2.221 individuals and their familie5. an increase of 17% Compared to 2022. Further. it has been encouraging to see an increase in the number of people engaging with our Prevent actrvities which increased by 27%. The horticultural community engaged with the development of new activities. programmes and initiatives including key health and financial wellbeing initiatives. the central pillars to buildin8 better futures. Aligned to thi5, during 2023. we ran educational campai8ns such as 'Be Money Smary and introduced new tools including one focused on carer5' SUPPOrt in partnership with Carers UK. Our gardens are Perennial's shop window and the three existing gardens at York Gate near Leeds, Fullers Mill near Bury St Edmunds and The Laskett near Hereford. experienced a busy vear with visitor numbers up 18% on the previous year. Further, we continue to identify additional gardens across the UK to build on our existing Portfolio. Financially in terms of our investments. we continued to experience market volatility underpinned by global events. Nevertheless, our balance sheet remains stron& and we are well placed to continue to support the horticultural community and their families while continuing to work towards our lon8er-term goa15 including expanding our reach and impact across the hortTrcultural industry. I would like to take this opportunity to thank Peter Newman. who tired as Chief ExecutNe in November, for his commitment and dedication to Perennial during hi5 6-year tenure. In addition, I would like to welcome Jamie Gault as the organisation's new Chief ExecutNe who cornes with a broad range of commercial and charitable experience. I would also like to thank Andrew Fisher Tomlin who stepped down as a Trustee in December. The valuable contribution he brought to the charity over many years will be missed. Finally. it is a tradition for the Chairman of Perennial to use this report to offer a heartfelt thank you to the many hundreds of people who give their time and their talents so generously and who make Perennial such very special organisation. This extraordinary group, motivated by their love of horticulture and the people that work within it. can be found across the UK supporting every èspert of our operations. A word of Sincere Bratitude must also go to the 32 people who left a gift to Perennial in their wills in 2023. Their generosity and thoughtfulness is greatly appreciated. .gQLlao Rochfofd Chairman
Gardeners, Royal Benevolent Society Trustees. Report for the Year Ended 31 Dernber 2023 08828584 OUR ACTIVITIES The 12.month period to 31 December 2023 covered in this annual report is the first in rent years not to have been affected to some degree by Covid. Help Services - Advice. Informatlon and Support Our help and support services are avaitable to everyone working in the horticuttural industry. We focus on helixn8 people to access the confidential advTrce. information and support they need throughout their live5. Our services provide immediate help that prevent difficult situatsons becomin8 more challenging, a crisis from deepening or problems becoming entrenched. Our approach 15 based on prevention and early intervention; empowersng people to make infomied decisions: building resilien and delivering outcomes that make a real and lasting difference in people's lives. Our helpline service provides advice, and information to people working acro55 horticulture and their families. People contact us about health issues, employment, housin& training, money and debt5. but we are happy to help with any issue people may be facin& however complicated. More complex issues are passed to our UK-wide Casework. Money and Debt Advice teams who help individuals find solutions where problems are difficult to navigate on their own, or where they need Specialist support from our partners. Our specialist teams can help by providing advice and inforniation on housing, employment. training, welfare benefit5, family and relationships. help with accessin8 heatth and social care services as well as making referrals to specialist employability. physiotherapy and legal advi Servi5. Perennial is regulated by the Financial Conduct Authortty {FCAI to provide debt advice and debt counselling services to people in horticulture who are experiencing debt issues. This can include helping people to understand how to better manage their money. reduce the impact of debt on their live5 and help build long term financial resilience. All our Money and Debt Advisers are accredited money adviser5 and registered Debt Relief Order intermediaries. During 2023, we have continued to provide infomiation and advice. in per50n. over the phone, by email or video call to meet individual needs. We are especially conscious of challenges created by the cost-of-living crisis and wider social issues. As result. we have been tailoring new activities that are responsive to these 8rowin8 needs. We have continued to focu5 on deliverin8 the impoct that people in horticulture have identified build better futures and measuring the effertr¥eness of our interventions. Preventative Artivities Some of the most important seTvice5 that we provide help prevent critical needs developing. This includes range of artivities manaRed by our prevention and development teams using holistic approaches that deliver meaningful change in people lives. We understand that prevention attivtties and promotirig wellbeing has the potential to reduce the demand for remedial and crisi5 seThices. as well as improving the outcomes of people who need our help. Our preventattve work focusses on the four area5 that we know through our research build better fvtures= Health and wellbein8 (physical and emotionall- Financial wellbeing: Career success (employment, training and skillsl; Social networks and relationships. We aim to empower people to build greater health and financial literacy and we can only achieve this by working collaboratNely with the industry educatin& informing and influencing people. To achieve our
Gardeners, Royal Benevolent Society Trustees, Report for the Year Ended 31 December 2023 08828584 goals, we are working to develop an industry-wide understanding of the challen8es people are facing with the aim of co-producinE effective 501utions. Our work is underpinned by comprehensive research and workin8 Wlth those who have lived e¥perience. Within health and wellbein& we are continuing to prioritise key health i55ue5 of- Mental health and wellbein& Musculoskeletal health,- Heart health. Our financial wellbein8 work has continued to provide the tools and knowled8e to everyone to feel able to pay their bills today, deal with unexpected costs and build a healthy financial future. To silPPOrt our goals. we launched supporting campaigns and tools throughout the year including "nudge" our free money management tool. Nudge gives quick and easy financial infomiation across a huge range of topics includin8 things such as budgetin& saving & inve5tin& homebuyin& debt managernent and tax planning. During 2023 we have further developed our evidence base, tested findings through pilot projects and continued to grow our knowledge base and the impact of our work. the resources and services that will empower people to build better futures for themselves and their families. Provlding Flnanclal Help Our financial sUPPOrt programmes are an essential part of the Safety net Perennial provides for people unable to 8ain the help they need from Statutory Services. We can provide one-off, or time limited. financial help for people entering our services. People may need our help after experiencing a bereavement. redundancy. life-chan8in8 dia8nosis or another significant life event. We work with people to SUPPOrt their short-term needs, including meeting immediate needs of providing food and heatin& whi15t workin8 on longer-term solutions to help overcome the challenges they are experiencing. We work wtth people accessin8 our services to identify their Strengths and challenges. We support people to gain the information they need to make informed decisions and support them to access housin& heah, social care and legal advice. as well as providin8 employment support and training. We review8overnment support they may be eligible for and support them to acce55 benefits, needs assessments and other forms of 5UPPOrt. We provide direct financial help to ensure families receive short-term support whilst lon8er-term solutions are put in place. For example, supporting tran5POrt costs for those experiencing hospital t8trnent. contributing to rent deposits for those experiencing homelessne$5 or domestic abuse. Accornmodation The Charity provides rented accommodation for people who have retired from horticulture in a small number of self-contained bungalows. Gardens We now own three 8ardens of national significan. The Laskett, at Much Birch near Hereford. wa5 created by Sir Roy Strong and his late wife Julia Trevelyan Oman and represents a highly personal. autobiographical garden design. It came into the ownership of Perennial in February 2021. York Gate near Leeds, a le8acy from the Spencer family in 1994. is a leading example of late 20th century garden design following the arts and crafts style. Fullers Mill at West Stow, near Bury St Edmunds. is an enchanting seven-acre woodland garden on the banks of the River Lark. Created by the late Bernard fickner, he left it to Perennial in 2017. In addition to being gardens of national significance and centres of horticultural interest, our gardens continue to provide local hubs from which the Charity is able to promote it5elf= garden-loving visitors are attracted to the 8arden and leave knowing more about Perennial. These hubs provide an opportunity to
Gardeners, Royal Benevolent Society Trustees, Report for the Year Ended 31 Dember 2023 08828584 build a volunteer community and supporter networK to raise k>col awareness, generate income and help the Charity to bulld better futures for people working in horticultu in the suffounding area and beyond. Our gardens are open to the public and are fvlty owned and cared for by Perenntal. In addition, we have two pledged 8ardens which. in due course. will become part of Perenniol'5 Portfolio and a number of potential additional gardens. Marketing the Charlty As an occupational charity. Perennial's vision is for everyone who works in or is retired from horticulture to be aware of how Perennial can help them and to feel confident to get in touch should they need Our help. It's important that Perenniafs message reaches all sectors of the horticultural industry. to those working with plants. trees. flowers or gra55. 05 well as to the organisations and individuals who employ them. In particular, the self*mployed may not be members of trade a55ociation5 and often only hear of Perennial from the people they work for. Perennial urges all those who employ gardeners, tree surgeons, landscapers and others who work in horticulture to let them know about Perennial. encourage them to engage with our activities so they become part of the Perennial family and feel confident to contact us if they ever need our support. Funding the Charity Perennial relies on legacies. donations and fundraising activities for approximately two thirds of its income. This is supplemented by investment incorne from fvnds generously donated over many years to provide sustainable long-term benefits. Maintaining the value of our investments. and the income they generate, is an e55ential means of underpinning the Charity's continuin8 operations. The Charity a150 receives other income from visitors to our gardens and rent from our tenants. It does not receive any government funding. The Charity sells a wide range of plants, cards. gifts and gardening-related items. as well as running cafés at our gardens, to generate funds and raise its profile through its wholty owrted trading subsidiary, GRBS (Enterprises) Ltd (trading as Perennial Trading). Running the Charity Effectively Perennial has a strong organisational structure, underpinned by a Board of Trustees and supported by four standing committees which follow the principle5 contsined in the CharTty Governance Code. A small team of staff at Leètherhead provide support functions covering governance. finance. marketin& fundraising and HR. Delivery of Our Activities Other than our three gardens and our accommodation for people who have retired from horticulture, all of whith are in England. Penn181 provides its helpline. prevent, casework and debt advice services, includin8 providing financial assistance where necessary, across the United Kingdom. including Scotland, Wale5 and Northem Ireland.
Gardenefs. Royal Benevolent Society Trustees. Report for the Year Ended 31 December 2023 08828584 STRATEGIC REPORT ACHIEVEMENTS AND PERFORMANCE The Charlty measures ¢ts achievements and performance against its Strate8y which is described in more detail on page$ 14-15 and will be continually updated to feflect pro8ss. Respondlng- Our Casework and Helpline Team Often people access our services to help manage a kry life event. with a tenth of them experiencing a cris1$ or emergency situation. such as taking on caring responbilities. being diagnosed with a life-changlng illness or experiencing a bereavement. Often life events significanily impact on people's wellbeing and thelr household income. Durin8 2023. we provided advice. information and support to 2.221 individuals and their farnilies12022: 1,8951. In 2023, our helpline handled 1.743 contacts from people seeking advice and information12022: 1,4521. Over 60% of people found their question could be answered directty by our helpline team. We also provided weblnars and group information sessions to 639 people12022'. 5591. The trend over the last ten years ha5 been an increase in the people enterin8 our serrflce5 who are facing challen8es that can often seem ovenvhelmin8. Our ser4ices continue to provide help to increasingly complem silualions. enabling people to cope with life<han8iffd events and providing access to stitutory sources of support including access to a complex Sxial care and benefits Svstern. As a result. our work with individuals can take more time and the volume of follow.up tasks required to help ser4ice users such as writing letters ènd emails. rnaking phone calls continue to rise too. 51 people We referd to physiotherapy servlces. 98 people benefited from 209 calls to the legal advice helpline. with 29% of people needing advice on employment law. 21% family law. 17% with consumer concerns, 8% with business concems and 4% of people needing help with wills and probate. Respondlng- Our Money and Debt Advlce Service Our FCA regulated artivity is undertaken by our team ot qualified debt advisor5 who are IMA.accredited. The Money and Debt Advice Service held a total of 370 irKIMduals and their families during 202312022: 3181. a 16% increase on 2022. To meet the FCA'S regulatfiS during 2023. we implemented our Consumer Duty plan and regularly review that we are deliverin8 holistic services that deliver good outcomes. People accessing our seryices are often faced with making an increasing number of complex and important decisions in an increasingly complex environment. Thi5 makes it even rn0 important that our setvice users are supported to make Infomied, effective decisions that work in their interests and build greater financial wellbein8. The Money and Debt Advice Service successfully negotiated and agreed £566.07112022: £471.6871 of debt write-offs for our servlce users. Re5ponding- Our Flnancial Assistance We understsnd that sometimes. unexpected or lrfe-chan8in8 events can turn li$ upside down. We also understand that everyone can experience financial difficulties or struggle to meet everyday INing cost5. Our help 5ervites support individuals and families who have experienced unexpected and life-chan8in8 events. including homelessne55, redundancy, bereavernent or as a result of an accident. Our financial support programmes are an essential part of the safety net Perennial provldes for people unable to gain the help they need. Our financial support programmes have been designed and developed In response to the needs of people workin8 in horticulture. They reflect the needs of people INin8 on a low
Gardener< Royal Benevolent Society Trustees, Report for the Year Ended 31 December 2023 08828584 income who need a little additional help to reduce their financial pressures and provide vitsl support for people coping with a crisis. unexpected or life-chan8ing event. whilst we work towards long-tem) solutions and planning for the future. In addition to maximising income from statutory sources. we helped people to access £162,66412022: £123,266) of employability programmes and training to develop their skills and careers. This year, we provided access to £28.65912022= £18.7121 of direct help to people who are struggling to meet the essential costs of food. heating and clothing. We have continued to help those who have been recently diagnosed with Sife-chan8in8 conditions. enabling them to travel for treatment and vital hospital appointments, as well as supporting people to access physiotherapy, employment SUPPOrt and Eegal advice. Housing and the costs of housing is now one of the key issues facing people across the industry. With rents rising at record rates. and increasin8 mort8a8e rates, there has been an in¢aSe in people falling behind with their housing c05t5. We provided £20,05212022.. £10,301) of support to people whose homes were at risk. Our Money and Debt Advite Teams provided £25,11612022: £12,370) of debt relief to people accessing our services. Sometimes. people need ongoing financial support. We offer longer temi support to peopk experiencing life-changing and unexpected events. whilst working to achieve sustainable outcomes. We provide acce55 to specialist advice and information including legal advice. health and Social needs assessments. home care, and bereavement support. We support individuals to access Statutory benefits and services along with dditional sources of financial and prartical support. In 2023, we provided £133.15312022: £104.6111 to support people acce55 trainin8 and retrainin8 initiatives including where it was no longer possible for people to continue workin8 in horticulture, the main a4 of support being for six trainees. four of whom work at Perenniafs own gardens. Responding - Our Prevent Artivities Our influence, education and information through our preventative activities has grown exponentially over the year, with a key focus on learning, financial and health and wellbeing literacy. There were 31,404 engagements with our prevent serrfices and actNities {2022'. 23.1991. We continue to develop our understanding of the changing and evolving challenges people working in horticulture face, undertaking research into accident ductIon and prevention, the needs of those living and working in Scotland, and the cyclical links between health and financial wellbeing. Our preventative work helps people stay healthy, happy and independent for as long as possible. Our work aims to reduce the chances of problems from arising, when they do. providing the skills, knowledge and tools to supporting people to manage challenges as effectively as p055ible. We have continued to deliver programme5 and activities that respond to identified needs. This includes training 53 people to act as mental health first aiders, to date the pilot project has trained just under I people and facilitated a mental health firsr aiders network to influence and inspire people across the industry to make mental health a key priority- During 2024, we will evaluate our current programmes and undertake a new Wellbeing Sur¥ey. To support our aim of building health literacy. our Wellbein8 Platform and App has 749 people regylarly engaging with the platform and its content with 7,445 view5 Qn information about our online health and wellbein8 Support information and a further 13.264 page view on health and wellbeing informatlon relating to physical health. Nudge, our free money management tool. has provided information and resource5 to 288 people. Runnin8 longside this, we have delivered financial wellbeing campaigns on everyday money tips and asking everyone to 'do one thing toda to help look after their financial wellbein8. People across the industry engaged with this information17.1071 helping to buikl resilience and better money management.
Gardeners, Royal Benevolent Society Trustees, Report fof the Year Ended 31 Deornber 2023 08828584 Respondin8- Our Accommodatlon The Charlty manages a small portfolio of retirement accommodation comprising seven bungalows: six in Cambridgeshire and one in Hampshire. Where help with third party accommodation is necessary, Perennial provides advice and support to find a safe home that meets individual needs and can provide financial help towards rent deposits. moving and insurance costs. Respondlng- Our Gardens We enjoyed the post-covid return to normal operation at our gardens where visitor numbers and sale5 in our cafés. shops and plant nurseries have 8rown substsntially. York Gate The Spencer family garden at York Gate has been in the care and ownership of Perennial Since 1994. The 8arden with its café, shop, admissions hall, plant sales building ond car park had a busy and successful year. In 2023, we welcomed 23.321 vi51tors into the 8arden12022'. 19.0911. The garden is extremely popular among new and returning visitors and the staff team is supported by some 180 volunteer5 whose time. talents and personalities bring incalculable value to the running of the garden and the experience that visitors enjoy. Fullers Mill Garden We continue to maintain Bemard Ticknerfs unTrque garden, which he entrusted to us on his death in 2017, as a destination of importance, beauty and tranquillity for garden lovers, in line with his wishes. In 2023. the garden had a total of 11.839 visitors {2022: 10.6891. The project to improve the visitor faciltties at the garden is currently being revised to define what best looks like to maintain the special nature of Fullers Mill and the surrounding environment. We will report progress in our next annual report. The Laskett Garden, Herefordshlre The Laskett Garden, created by Sir Roy Strong and his late wrfe. Julia Trevelyan Oman is a very well known, highly personal garden and Perennial is honoured that Sir Roy chose u5 to be its Custodian. In early 2020. Sir Roy decided to transfer the house and gardens to Penn1a1 as a living gift and The Laskett came into the are and ownership of Perennial in February 2021. A highlight of the year was the holding of our Annual Event and AGM at the garden in July. MO than 80 Perennial Members and other sUPPOrters from across the Perennial family gathered to be shown around the garden by members of the staff team and the Garden Committee. and to hear about the wider work of Perennial in delivering 115 purpose. Work is in hand to establish the necessary plan for the garden's lon8-term management and development to ensure that it continues as a garden of national significance and quality with suitable visitor amenities, while also becoming a hub for Perennial's Services to people in horticulture in the surrounding orea. Key to this will be the building of the team of staff and volunteers. We now have 20 volunteers who bring much knowledge and enthusiasm to the task of conserving and developin8 this special garden. Future Perennlal Gardens In 2021, Mona Abboud pledged her extraordinary garden. voted 'Best Back Garden. by the London Gardens Society, to Perennial. As reported last year, Graham Robeson and Alan Gray have pledged their wonderful Norfolk 8arden, East Ruston Old Vicarage, to Perennial. Graham and Alan have spent 50 years creating the 32-a¢ garden from scratch and feel that the time is right to secure its future by bequeathing it to Perennial.
Gardeners, Royal Benevolent Society Trustees. Report for the Year Ended 31 December 2023 08828584 In¢reasin8 Reach Through Our Gardens Our three gardens, along with those that have been pledged to us. play a key part in increasing awareness of Perennial. They attract thousands of visitors who are entranced by the gardens but are also very open to learning more about how Perennial helps people in horticulture. The 8ardens attract significant interest from the gardening press which results in regular exposure in publications. online and on television where we featured in three episodes of BBCS Gardeners World. in addition to the thousand5 Qf people who follow and en8age wtth the 8ardens' social media accounts. This all spreads the word about Perennial and what we do for people in horticultu. The gardens are also used as bocations for photography and filming. Reaching Out and Engaging Perennial's vision is that all those in horticulture know to come to us when they need some help or advice. so we continue to reach out to those working in or retired from horticulture. as well as all those people who appreciate the hard work which goes into maintaining gardens, sports grounds and all the other green Spaces in the UK. The team at Perennial is small compared to the hundreds of thousands of people who work in. or a retired from, horticulture. There a also a Ereat number of sectors wf(hin the industry, many of which operate only in their own sector and don't cross over with others, hence there is a need to omrnunicate with them all individually. So. for the sake of everyone who could benefit from Perennial's 5UPPOrt. it's vital that we all work together to spread the word. Trade associations and companies have a large part to play. letting their members and employees know that they can get advice and support at any time throughout their lives. Passing on the message helps but actively helping their trade charity through volunteering and fundraising actrvities also helps people to feel part of the Perennial fomily and more confident to call should they need us in the future. In 2023, 32 trade associations proactively promoted Perennial to their mernbers and the number of companies who became Perennial Partners increased by 19% to 161. Many trade shows also helped to raise awareness of Perennial by providing free space and promotion of the charity to their audiences. significantty increasing our reach within the horticultural community. In 2023, the new initiative 'Plants for Perennial. was launched in collaboration with four major wholesale nurseries- Allensmore Nurseries. Bransford Webb5 Plant Company. Wyevale Nurseries and New Leaf Plants. The nurseries each launched a new plant with donations to Perennial for each sold, raising £16.443 over the year. This programme continues into 2024 and is a fantastic example of people in the Industry coming together to cate a fundraising campaign which supports their colleagues. Self-employed gardeners, landscapers and arboriculturists are the hardest people to reach. It's often Someone they work for who lets them know that Perennial is there for them and encourages them to get in touch if they need help. Our gardens and community volunteer networks are all important ways of gaining the attention of people who love to visit gardens and flower shows to introduce them to Perennial. These people usually have gardens of their own that they enjoy and may employ gordener5, tree 5urgeon5 and landscapers. They are often the people who will pass on details of Perennial and supsxirt the Charity. By providing the cloakroom and plant creche service5 at the Harrogate Flower Shows, RHS Chelsea Flower Show and RHS Hampton Court Garden Festival. our volunteers helped raise £22.270 in addition to raising awareness within these audiences. The Speaker Panel continues to be very popular with talks on and offline being booked by horticUural societies and community groups throu8hout the year. This has enabled us to reach more people around the UK and develop relationships wtth community groups who have the abiltty to spread the word in their local areas. The online world continues to be a vital way to communicate with potential service users and sYPPOrters. through both younger and older 8eneration5 having a presence online. Every year we are seeing major increases in our online presence. There was a 6% increase in visits to our service5 page5 Wlth 34.862 unique page views of the information provided online. The most popular pages Visited are our gardens, again
Gardeners, Royal Benevolent Society Tru5tees' Report for the Year Ended 31 December 2023 08828584 demonstrating how vital they are in helping us to achieve our vision of reaching more people. The publicity received thi5 year has had a huge impact. with a 153% increase in visits to the York Gate pages alone. Social media presence also continue5 to grow with engagement growin8 Significantly and followers exceeding 60,000 people across our accounts. Our supporters are sharing P05ts regularly with their own networks to spread the word. The numbers of e-news subscribers have increased by a further IO% with our regular emails reaching over 18,5LN) people, around 40% of whom open them on a regular basis whith is above average for charity email marketing. Offline communicatK)ns are also an important way to keep SpadIng the word and updating people with the help we can prowde. Pre55 activity continues to remain a focus, with an OTS Iopportuntties to See) of 152m which has an Advertisin8 Value Equivalency IAVE} of £4.81M. Our presence was boosted by York Gate featuring on B8C Gardener5 World and Fullers Mill appearin8 on B8C Look East. Our database of supporters continues to grow and receive 'Perennial News, twite a year. which include5 information about the impact we are havin8 on people's lives and the fun to be had joinin8 in with fundraising activities. Our branded produrt5 are a fantastic way to spread the word. The Perennial Souvenir range has grown and continues to be popular. Perennial-branded Christmas cards play an important role in raisin8 awareness. along with our Perennial-branded everyday ranges people can buy all year round. Our'8eautiful Gardens, calendars and diaries are sold through high street chains such as John Lewis, Martins Newsagents and Morrison5. These products all raise awareness of the charity and reached around 67.OLMJ people in 2023. Delivering Todayp Tomorrow and Always Our help services work with people facing some of toda¢s most complex challen8e5 that can often seem overwhelming and whose effects can be lon8-lasting. Every day we see the very real and devastating effect of adverse life events which impact people's futures. Our teams vmrk efficientfy to deliver immediate crisis SUPPOrt to provide a vital short-term safety net. whilst we explore and implement longer term solutions. Longer terni solutions can prevent problems becoming more complex. a crisis from deepening or problems becoming entnChed. By delNering help early, we can improve an individual's and their famil¢s outcomes across employment, education. safety, hou5in& relationships, health and wellbein& leading to better future prospects. Often this requires long- term support. The Trustees believe it is important to hold sufficient investments to provide the Charity wlth the financial strength and resilience to survive toda5 economic uncertsinties in order to support people in horticulture today, tomorrow and always.
Gardeners. Royal Benevolent Society Trustees. Report for the Year Ended 31 Defflber 2023 08828584 FINANCIAL REVIEW Operating Results 2023 was a financially rnixed year. Income in(aSed by 14%. expenditure lextluding the impairnient described below) increased by 9%. leadin8 to a IO% improvement in the underlying operating deficit to £932,91912022- £1.033.2361. We needed to recognise a £450,L) impairnient in the carwng value of Attleborough Lodge, resultin8 in an overall operating deficit of £1,382,919. However, this operatin8 deficit was offset by a £2,268.963 net inve5trnent gain12022: £9,049.89610ss1. Therefore, the total increase in funds over the year was £886.044 compared to a decrease of £10,082,632 in 2022. Income Perennial's three main sources of income are from investments. legacies and donations and fvndraising. Investment Incorne The Charity's investment objective is to generate an income to supplement legacies, donations and other fundraising income and to achieve long-temi capital growth above inflation. Investment income is a core component of our funding. but it only covers about a quarter of current expenditure. Net investment income after management fees increased by 30%. although IO% relates to a oneff receipt from our property fund. The other 20% is mainly due to benefitting from relative stability in 2023 compared to the upheaval of the previous year when we moved between investment managers. Legacy Income Over the medium-to-long-term, legacie5 are a vital source of income. historically covering about a third of our expenditure, but they are inhentlY unreliable in the short-term. St8nificant retsipts in one year can distort year-on-year comparisons. We are grateful for all legacies. but the more occasional. large legactes allow us to make lastin8 impacts for people in horticulture. Donations and Fundralsln8 Incorne Our ability to generate a sufficient sustainable and growing level of voluntary income is critical to fundin8 our aims to increase seThices. extend our reach and ultimately to help more people. We have always been able to provide the infonnation, advice and support to everyone who comes to us, but as awareness grow5. we reco8nise the challenges presented by increasing numbers of seThice users. Without fundfaisin8 income and supporters, donations. we would be forced to help fewer families each year or provide less support. The 8enerous donation5 from the National Garden Scheme and Scotland's Garden kheme are important omponent5 of our income. The exclustve use of both donations to support our Debt Advice and Casework Team 15 shown by allocating them to the Advice & Casework fund within the Gardeners, Royal Benevont group of designated funds Isee Note 5 on page 371. We are grateful for the transfer by the HTA of their Benevolent Fund to Perenn1 in 2023. Penn1a1 has been helping people referred to us by HTA since 2021. Excluding the HTA transfer, underlying donations increased by 8%. All fo$ of regular giving provide important, reliable sour$ of income that help us to plan for the future: io-
Gardenerg Royal Benevolent Society Trustees, Report for the Year Ended 31 December 2023 08828584 Our Perennial Partner corrM)rate supporter scheme is an important income stream which generated £111,94212022: £98,375), an increase of 14%. Our Partners recognise the benefit5 of workin8 together and help us to share news about Perennial with their employees. The Friends of Perennial membership scheme raised £96.25412022: £73,202), an irnpressive increase of 31% demonstrating its great value for monev. The Fellowship prograrnme. for individual supporters who make significant annual donations. slipped back by 20%, raising £47.70912022: £59.4061. Plants for Perennial, a new initiative in 2023 with four high profile nur5erbes. was a Success raising £16,443. Our Special Events programme generated a much-improved contribution of £27.962 {2022: £14.5481. closer to that achieved in previous years. Horticultural societies and other community group have helped raise £13.51812022.' £13.0251. Other fundraisin8 successes in 2023 included running the cloakroom at the RHS Chelsea Flower Show which raised £12,618 and the tUrn of the Nuts Challenge which contributed £6,461. As well as generating income. fundraising activities provide a vrny for people to engage with and feel part of Perennial, so if they need our help in future. they are more likely to contart us. Trading Results The trading subsidiary made a profit of £44.76712022: £2281- As there was no taxable profit in 2022, there was no Gift Aid donation to Perennial in 2023. The subsidiary generates a profit through trading attivities at our three gardens as well as by online and mail order 5ale5. Total catering income increased by 27% to £409.47812022= £321,289}. The café at York Gate is open for most of the year even though the garden itself is closed durin8 the winter. Income generated from the gardens. shops increased by 25% to £93,45712022.. £74,810). Income from plant sales increased by 18% to £85,74612022: £72.3621. Mail order and online sales decreased by 4% to £49.86112022: £51.785}. In 2023. Christmas cards were sold throu8h Cards for Good Causes under a licence model. which is simpler. requires less staff time and carries no stock risk compared to the more traditional model used in previous years. We received E4.864 from Cards for Good Causes in 202312022- £nill. Our team of volunteers work hard to fulfil orders. manage stock and look after customers. Their support is critical in minimi5in8 the costs of our tradin8 activity. as well as providin8 admin support to the Charity. Perennial received £17,60912022- £23,267) of donations intluded with customerg orders plus corporate donations of £1,99012022= £3.8551 as a result of trading relationships with GR8S IEnterprisesl Ltd. The Charity also benefits in other less tangible ways such as the marketing value generated by our online shop, sales leaflets, the Christmas catalogue and our branded greetin85 cards, helping to 8fOW public awareness which is important for future donations and legacies. Gardens As well as the trading income described alVe. our gardens attract thousand5 of paying visitors each year, many of whom become Friend5 of Perennial and lon8-term supporters of the Charity. Admissions income has grown for each garden. mainly due to growing visitor numbers. York Gate increased by 41% to £71,53812022'. £50,822). Fullers Mill InCaSed by 36% to £52.60612022.. £38.6091- The Laskett, which was open for more days than in 2022, increased by 125% to E22,34012022'. E9.9311. li-
Gardeners, Royal Benevolent Society Trustees, Report for the Year Ended 31 Oecember 2023 08828584 Expenditure Charltable Expenditure The costs of running our Casework and Debt Advice teams increased to £1.671.61412022: £1.521.6941 as a result of successfully recruiting new staff. Expenditure on grants and benefits increased to £452.833 {2022: £372.163) due to demand from a greater number of service users across most cate8ories of help. Providing financial assistance to support people in a crisis, helping with essential items such as food and heatin& will ahvays be part ot our toolkit in the short- term and is driven entirely by need. There is far more to our service than just financial support. The priority is to prevent existing problems from escalating and then prevent other problern5 from arising in the longer term. We provide access to support for mental health problems. muscular skeletal di50rder5 and ernployrnent i55ue5. Making potential service users aware of Penn131 and how we mi8ht help them is a challenge. Marketing Costs increased to £902,226 {2022= £786,484). mainly due to additional staff costs and the initial costs of developing our new website due to be launched in the first half of 2024. Expenditure at the garden5 covers the c05ts of runnin8 and maintainin8 them. Staff costs associated with plant sales and caterin8 are rechar8ed to the trading subsidiary. Position The Charity remained in a robust financial position as it moved into 2024 and Continues to be well placed to tackle the challenges ahead. thanks to the level of resilience provided by our reserve5. Operating cash flow ha5 been carefully managed throughout the year. £l.OCN).000 was withdrawn from our investments to maintain liquidity at a relativety high level. Access to cash at short notice from investments 15 readily available a5 and when it becomes necessary. Reserves As stated in the Reserves Polioi, the Trustees oim to l)okl free reserves of between £4.4m and £5.4m Ifree reserves exclude restricted and designated funds and the net book value of all a55ets held for operotional purposes, including the Leatherhead OffKe and our gardens). Of the £66.8m shown a5 Total Funds in the Balance Sheet as at 31 December 2023, the Charity holds£4.5m as free SerVeS.. General Deslgnated Restrfcted Fund5 Funds FurNIs Em 2023 Totsl 2022 Total Balance Sheet value Less.. Fixed Assets ILond & bwldlngs. IT. etcj Workire Capital (cosh ot bonk ontyj 59.7 14.71 66.8 15.51 65.9 15.71 10.81 55.0 59.8 Gardener5 Royal Benevolent Funds Garden5 Funds Lironi Training Fund Children's Fund Free Reserves 144.0) {8.21 12.81 144.01 18.2} 12.81 142.41 18.11 12.81 5A 12
Gardeners, Royal Benevolent Society Trustees, Report for the Year Ended 31 Dernber 2023 08828584 Free reserves are within the target range. The Trnstees anticipate that the Charity rnay need to draw on it5 reserves in 2024 by up to £2m. The next few year5 may continue to be challengin8 for various economic reason5 and geopolitical risks. Both Fullers Mill and The Laskett will require some investment to fulfil their potential. although the various options still need to be conSided and evaluated. Funding is already held in designated funds. For these reasons. the level of free reserves is expetted to remain within the target range over the next two to three years. The Trustees, reserye5 policy is described in more detail on pages 22-23. 13
Gardeners, Royal Benevolent Society Tru5tees' Report for the Year Ended 31 December 2023 08828584 PLANS FOR FUTURE PERIODS In 2024, our aim is to improve the online experience for our supwrters. We will focus on completing the implementation of an ambitious upgrade to our website. Building awareness of Perennial to reach our vision continues to be a primary focus and in early 2024 we will commence a review and refresh of the existing strategy to ensure it continue5 to Set the right direction for the organisation against the external challenges faced. Impact of Cost of Living We will continue to maintain an unswerving focus on people who need our service5, meeting the needs of individuals and families as they arise. We stand ready to provide the help that is required. whether in the fomi of support and adwce or financial assistance. Perennial has sufficient financial strength las at l May 2024. the value of investments was £61ml to cover annual operating expenditure of circa £Sm for the fofeseeable future and remain able to meet its debts as they fall due throughout this period. Due to pressure on income and a Continued increase in demand from service users. the Trustees will utilise up to £2m of reserves in 2024 in order to maintain services at current levels. Cash will be drawn down from investments to support working capital. Although those investments generate a core component of our annual income requirement. 2024 is likely to demonstrate again how much we rely on legacies, donations and fundraising to maintain our ability to help the people in horticulture who need us. Our Purpose To build better futures for people in hortitulture and their families. Our Wision We believe that no one in horticulture should be denied our help sirnply because they are not aware of our existence. Our vision therefore is.. That every person in horticulture in the UK wlll be aware of Perennial. wlll understand what help they can receive from us, and will be confident to get in touch should they need our help. Our Strategy We believe In delivering impact and ensuring that people are at the centre of all we do. By measuring our impact. we can increase our effectiveness and continually improve what we do. Our KPI framework covers the areas of activity that are most important to the Charity such as the level of awareness of Perennial amongst people in horticulture: how much they trust and value the outcomes that we deliver: and the depth of engagement with our stakeholders and people who acces5 our serviS. Other KPIS focus on internal measures. The KPI framework shows that we are satisfied with the progre55 we are makin8 in key areas. including evaluating our impact and the effectiveness of our interventions. During 2024, we will analyse the data that has been gathered so far and review our KPIS as we develop the focus of the various measures. Reach We believe there a many more people in horticulture who we could help but who are not yet aware of Perennial. No one should be denied our help simply because they are not aware of our existence. We are building a network of hubs to Create a greater regional focus. Starting at our gardens at Fullers Mill. The Laskett and York Gate. The hubs help raise awareness amongst people in horticultu and supporters. 14-
Gardeners. Royal Benevolent Society Trustees. Report for the Year Ended 31 Dernber 2023 08828584 We will work with stakeholders to develop partnerships that help to carry our message more widely. Help Providing specialist advice and 5UPPOrt to service users will always be at the heart of our charitable purpose and activity. The Casework and Debt Advice teams will continue to be resourced to meet changes in demand and develop their expertise to ensure we deliver our services to the highest standords of excellence. Financial help will continue to be an important and essential tool in our aim of relieving poverty. but it is complementary to the holistic support that we provide. Prevent As well as helping those in horticulture who need our support today. we will develop our attivities that aim to reduce the number of people in horticulture who might otherwise need our help in future because we believe in the principle that prevention is better than cure. We will continue to promote and provide training for people in horticu5ture. to enhance their career5 and provide life skills that will increase people's chan5 of success. This will reduce the demand for our Help services. Over the coming years, we will continue to delrver the goa15 and objective5 Outlined within our Prevent strategy, which fo¢use5 on creating better futures. To achieve this. we will reduce the impact of physical. emotional. social and economic factors on the lives of people in horticulture. Using a credible evidence base. we will co-produce preventative programmes. campaigns and actr¥[tS at scale that enable people to lead healthier and happier lives. Resource Our strategy, with it5 ernphasis on reaching more people in horticulture, is likely to inCaSe the already growing demand for our services. To meet that demand and to delNer our strategy, we need to grow our resources. We will take account of developments in the domestic and global economies and their potentially adverse impact on our future income streams and the value of our investments. We will review our fundraising strategy and develop plans to cope with a range of likely strnario5. Manage We are proud of what Perennial doe5. We will continue to manage the Charlty to the highest Standards of governance and financial and operational efficiency and effectivene55. The strategy 15 the foundation for our short and medium-term plans. We will adapt it as we move forward so that it remains relevant. It will guide our behaviour5 and shape the development of our fvtU activities. 15
Gardeners, Royal Benevolent Society Tru5tees' Report for the Year Ended 31 December 2023 08828584 PRINCIPAL RISKS AND UNCERTAINTIES Perennial has a relatively low and stable risk profile, with risk5 that typically can onty be managed rather than eliminated. Rlsk Mitigation Regular review of fundraising strategy- maintain a high level of reserves in designated fund5 to provide a reliab core component of investment income and a cash cushion. Financial impact of an unexpected and prolonged shortfall in income. possibly as a result of a global pandemic or other shock to the world economv caused by a geopolitical event outside of our control. Regular review of cash positn. cash flow forecasts and other financial data. Financial impact of significant investment losses. P055ibly as a result of a severe downturn in global stock markets due to a geopolitical event outside of our control. Regular review of robust investment policy. Maintain appropriate level of diversification across and within portfolios in line with investment policy. Half-yeady performance reviews with investment managers. monitor quarterly perfomiance against objectr¥es and benchmark5. Regular reviews of operational statistics and other management information to monitor workloads; maintsin adequate level of resourcin8 Within tkbt Advice and Casework teams. Failure to provide the necessary level of service or financial support, as a result of unexperted rises in demand for our services from new and/or eyisting clients. Failure to provide the necessary level of service or financial support, as a result of unforeseen changes in regulation or unexperted1055 of a key member of staff. Regular monitoring of regulatory landscape; regular staff trainin8 to ensure continuing fitne55 to practice. Regular knowledge-5haring by management team,. maintain up-to-date policies and procedures. Reputational damage and/or financial impact as a sult of a major IT incident le.8. security breach. data loss, catastrophic hardware foilurel leading to fines. claims for damages. cost5 to reinstate data. etc. Ensure that Security procedures are up-to-date and adhered to. disaster recovery protedures are reviewed and tested regularly. 16
Gardeners. Royal Benevolent Society Trustees. Report for the Year Ended 31 December 2023 08828584 SPECIAL THANKS The work of Perennial would not be possible without the help of many organisations and individuals. We appreciate all donations. especially regular contribution5 that help us to plan with rn0 confidence. Many of our sUPPOrters have made significant donations over many years. demonstratin8 their faith in the important seThice that Perennial provides. A special mention must go to the National Garden Scheme which has donated to Perenni415ince 1986. We also acknowledge with thanks the 8enerous donations in 2023 from Scotland's Gardens Scheme and our Fellows. Volunteers continue to underpin the work undertaken by members of staff. They tske part in a vast range of activities in our gardens and at many different events. We thank them all for their 5UPPOrt. we simply could not achieve all that we do without thern. We would like to thank to our Lead Volunteers who help to create and run groups to activefy promote Perennial and raise funds in their local community. Our growing number of Perennial Partners and corporate supporters continue to help us reach a significant number of people each year and encourage them to engo8e with the Charity so they feel part of the Perennial family. On behaff of our service users. we hereby extend our thanks to all those who support Perennial through legacies and donations, buying goods. attending our special event5 andlor volunteering in variou5 ways. Legacies Legacies are an important source of income to Perennial- 32 new bequests We received in 2023 from the legators listed below {2022.. 351. We are mindful of the sad circurnstances of such gifts and extend our condolences to those bereaved. We are deeply grateful for these donations which are vital to our continuing ability to make real. lasting difference5 to the lives of the people that we sUPPOrt. We Sincerely thank the following people who have remembered Perennial in their will5". Hilary Allen Fiona Good Mary Newns Kathleen Riley Myrtle Broadbent Catherine Henderson Daphne Northcott Margaret Smith Christine 8unt Jennifer Hennessey Bridget Okeden Janet Srnith Oonald Chittev Diane Houghton Eileen Paterson Suzette Trower Sheila Cowan Brenda Jones Gillian Plant Delma Walshe Charle5 Fernley Annette Lees Emily Prin8le Doreen Williams Phyllis Firman Joan Mathias Doreen Pugh Sasithon Williamson Anne Goldstein Mar8aret Miller Barbara Reynolds Daphne Wilmotltl 17-
Gardeners. Royal Benevolent Society Tru5tees' Report for the Year Ended 31 December 2023 08828584 STRucfuRE. GOVERNANCE AND MANAGEMENT Name and Registered Offi The Gardeners. Royal Benevolent Society uses the trading name Perennial alongside its fomial gOI name. The Charity has its re8iStered Offi at 115-117 Kingston Road. Leatherhead. Suffey, KT22 7SU. Memorandum and Artides of A550ciation With effect from l January 2014, following its conversion to a company limited by guarantee. the Charity adopted its Memorandum and Articles of Association, which control the way the Charity is organised. They were updated in September 2020. Board of Trustees The members of the Board of Trustees, who were the companVs d1CtorS during the year or on the date of approval of this report, are shown on page 48. They receNe no remuneration. Members of the Board serve for a four-year terni. extendable to a consecutrve second term but thereafter inellgible to stand again unle55 the 8oard agrees that in exceptional circumstsnces. a Trustee may be elected for a maximum of four more years. Trustees a elected by member5 at the annual general meeting, save that the Board has power to appoint a Trustee to fill a casual vacancy until the next annual general meeting. The Board met on four occasions in 2023. Recrultment and Training of Trustees The Charity aim5 to have a balance of expertise on the 8oard. to include professbonal back8rounds outside horticulture, which brings a range of experience and provide5 a valuable broad perspective. Recruitment of new Trustees is the responsibility of a Nominatlons Committee, consisting of the Chaimian, Vice Chairman, Honorary Treasurer. the Chairmen of the Policy and Services and Marketing and Fundraisin8 Committees and any other Trustee invited by the Chairman with the agreement of the member5. together with the Chief Executive. Without instituting any fomlal rules or quota systems. the following criteria are important in the search for new Trustees.. To reflert the diversity of the industry and prOfeSsnal occupations in horticulture. A balance of skills, knowledge and experience- A balance of people from different parts of the United Kingdom. The Charity ha5 an induction programme and a Trustee Handl>ook, provided to all Trustee5, and active encoura8es Trustees to undertake further learning and training to better equip them for their duties. Changes to the Board Andrew Fisher Tomlin, Malcolm Goodwin and Simon Goodenough retired from the Board durin8 the year. Committees of the Board The Board may appoint Committees with specific expertise and may delegate any of its powers to these Committee5. The members of the pemianent Committees established by the Board are shown on page 49. The Board is able to delegate detailed functions to its Committees and harness the expertise of Trustees In supporting the organi5ation in a time effective way in their areas of special knowledge and interest. 18
Gardeners. Royal Benevolent Society Trustees. Report for the Year Ended 31 December 2023 08828584 The Committees comprise: Marketlng and Fundralsln8 Commlttee: responble for supporting and overseeing the Charity's marketing and fundraising activitie5. Nomlnatlons Commlttee: responsible for the recommendation of appointment of trustees, senior staff and member5 of the Charity,. also. to review the Board's membership. functioning and effectweness. Policy and Services Committee: responsible for overseeing the delwery of the Charity's services. Resources Commlttee: responsible for overseeing the effective utilisation and protection of the Charit¢s resources and for overseeing the management of risk. 19-
Gardeners, Royal Benevolent Society Trustees, Report for the Year Ended 31 December 2023 08828584 LEGAL STATUS The Gardeners. Royal Benevolent Society, also known as Perennial. wa5 fouThJed in 1839. The Charity became a company limited byguarantee on ljanuary 2014. previously having been an Industrial and Provident Society with exempt charitable status. The Gardeners, Royal Benevolent Society is registered as a company in England and Wale5, number 8828584. and is a registered charity, number 1155156. It is also re8lStered with the Office of the Scottish Charity Regulator, number SC040180. Perennial's Debt Advice service is authorised and regulated by the Financial Conduct Authority. OBJEcfs OF THE CHARITY The Objerts of the Charity were reviewed and updated in 2013 due to the chan8e in legal status. although there were no changes in Substance from those already in place. The Object5 set out in the Memorandum of Association implemented on l January 2014 are as folSows- 11 The relief and asslstance by such means as the Trustees shall determine to be appropriate in each case of gardeners or persons who are or have been in like employment or occupation or those closely involved in gardening or related actwities or those training to be gardeners or person5 of like occupation and their spouses Of widows/widowers or unmarried partners andlor immediate dependants in necessitous circum5tonces or in circumstances of poverty. illness, disability (whether mental or physicall or old age: and/or 21 The advancement for the public benefit of education and training in or relating to horticulture or 8ardening,' andlor 31 The provision. maintenance or assistance in the provision and maintenance of gardens and open Space for trainin& rehabilitation and other charitable purposes for public benefit, and in particular the preseThation and maintenance of gardens of historic andlor aesthetic importance to be enjoyed by and made available to the public at large- and/or 41 To further such other exclusively charitable purposes according to the law of Englond and Wales as the Trustees in their absolute discretion frorn time to time detemiine. Since the Charity's inception in 1839. activities aimed at achieving the first objective have formed the major part of our work. We will continue to provide assistance where it is required, but we aim to put more effort into preventing the need for assistance where we can do 50 effectNely. PUBLIC BENEFIT The Charity provides advice and support to people of all ages from all horticultural trades in the UK. including employed and 5elf*mployed gardeners, those running horticultural businesses, nursery and garden centre staff. grounds staff. landscapers, greenkeepers, arboriculturists. foresters and people working in parks, garden5 and large estates. It is estimated that there are at least .C1)0 people who are ellgible for our support as a result of someone having worked in. or retired from. this industry. Perennial's purpose is to 'Build better future5 for people in horticulture and their families,. The charity does this by supporting those who need help and providing access to training and tools to build people resilience and prevent them getting into cri515. Perennial helps those strLtggling with life-changing thallenges such as bereavement. illness. Injury and redundancy, along with other problems people experience. It provide5 advice and support to individuals. -20-
Gardeners, Royal Benevolent Society Trustees, Report for the Year Ended 31 December 2023 08828584 helping them acces5 government support and benefits. helping to manage debt where necessary and providing financial assistance to cover essential item5. particularty food and heating. The Charity also provides access to a range of tools and training opportunities to help people in horticulture improve their lives. For example. providin8 information on how to effectively manage money and access to an online budgeting tool- access to a mental health 5UPPOrt network by partnering with Togetherall.. and access to physical well-being check-ups at trade shows around the UK. Perennial's garden5 are an important part of Perenniafs strategy to reach more people. Actin8 as a local hub, York Gate near Leeds, Fullers Mill near Bury St Edmunds, and The Laskett near Hereford are open to the public, with visitors arriving to enjoy these unique gardens but leaving having learned of the Se1$ Perennial provides. They also play an important part in their communities, providing volunteering opportunities and a place for people to meet. The Trustees, policie5 seek to prevent any private benefit or hami arising from the Charity's activitie5. Full details of the benefit provided by the Charity over the past year are set out in the precedin8 sections of this report. The Trustees confirm that they have complied with the duty in sertion 17 of the Charities Att 2011 to have due regard to the public benefit guidan published by the Charity Commission in determining the activities undertaken by the Charity- -21-
Gardener5' Royal Benevolent Society Trustees, Report for the Year Ended 31 Decernber 2023 08828584 POLICIES Fundraising The Board is proud to abide by the Fundraising Regulatorfs Code of Fundraising Practice and is committed to fundraising in an open. honest. fair and transparent manner. Perennial undertakes its own fundraisin8 and does not use external professK>nal fundraisers. The Board respects the rights of supporters to recerwe clear, truthful information on the work of Perennial. We will manage data responsibly and respect the privacy and contact preferences of all supporters. We will respond promptly to reque5t5 to tease contact and deal with complaints. acting as best we can to address the causes. We did not receive any fundraising complaints during the year. Risk Management The Board has delegated responsibility for monitoring risk to its pemianent Committees. The Senior Leadership Team regularly review5 all financial. operational. regulatory and reputstional risks in depth. Each permanent Committee then reviews the risks relevant to it. Risks are assessed on the basis of their likelihood and potential impact. having taken current mitigation plans into account. The Board reviews the highest-rated risks at each of its meetings. Reserves The Board believes that Perennial's services will be needed indefinitety- Ever Since the Charitys inception, it has consistently pursued long-temi strategies to ensure that it is able to continue to support current and future service users. We are committed to giving our service user5 the support that they need. for as long a5 It is needed. Our reserves reflert this lon8-term commitment. We are always grateful to our supporters who generou51y donate to us. but the inherent volatility in income from le8acies and donations means that we do not always receive enough to cover our beneficiaries, needs and our own running costs. Income from legacies and donations may fluctuate for many reasons which are Usually out of our control. Therefore, it is the Trustees. policy to retain sufficient reserves to achieve the following objectives= generate investment income to supplement the income from donations and le8acies that is used to provide essential support to our beneficiaries every day of the year- mitigate the short-term effects of income volatility and unexpected increases in expenditure; provide an adequate level of operational resilience against the other risks and unforeseen event5 that face the Charity in the course of its business Ithese have a low likelihood of occurring but. if they did. would have a significant impact on Perenniall- provide the Charity with the Stngth to meet its commitment to our beneficiaries. IK*th now and In the future. The policy focuses on the level of "fe reserves" i.e. those fund5 which are freety available to be spent. Free reserves therefore exclude all restrirted and designated funds. as well as the net book value of fixed assets held for operational purposes, including the land and buildings of the Leatherhead office and our gardens. The value of investments inevitably fluctuates with market indices. $0 the tsrget reserves requirement is expressed as a range. The Trustee5 consider that to operate effectively and meet the objectNes dexribed above. based on their assessment of the financial impact of current risks. the Charity should aim to hold free reserves of between £4.4m to £5.4m. This is the equivalent of approximateFy one yearfs future operating expenditure. 22
Gardeners. Royal 8enevolent Society Trustees. Report for the Year Ended 31 December 2023 08828584 The reserves policy is fomally reviewed at least every two year5, unless changes in circum5tance5 or the operating environment require a more frequent review. It was last updated in June 2022. The reserves are monitored regularly throughout the year by the Resources Committee. Investment The policy describes the Trustees. attitude to risk. Sets out a broad asset allocation strategy and provides a framework for making investment decisions. It sets out the arrangements for managing the investments effectively. monitorin8 their perfomance and for appointing and reviewing the investment manager5. The Trusteeg approach to ethical and 50cialty responsible investment is to: invest in companies that have clearly defined. positive environmental and social re5pon5ibility policies; avoid investment in any company whose activities can be clearly seen to be in d1ct conflict with the objectives of the Charity. The investment policy is formally reviewed every three years and was last updated in February 2023. All changes are approved by the Board. The policy may be reviewed sooner if the risks facing the Charity were to change. The basic investment strategy is kept under review by the Resources Committee. Remuneration Perennial regularfy reviews the remuneration of all staff. including the Senior Leadership Team, to ensure that salaries and terms & cond¢tions of employment are fair and reasonable, in line wrth the market and facilitate recruitment of personnel. 23-
Gardeners. Royal Benevolent Society Trustees, Report for the Year Ended 31 December 2023 08828584 STATEMENT OF TRU5TEES' RESPONSIBILmE5 The Trustees, who are also director5 of Gardeners, Royal Benevolent Society for the purposes of companv law, are re5pon5ible for preparing the Tw5tees' Annual Report and the financial statements in accordance with opplicable law and United Kingdom Accounting Standards (UK Generally Accepted Accounting Practice). Company law requires the Trustees to prepa financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resour$ and application of resources. including the income and expenditure. of the charitsble company for that period. In preparing these financial statements. the Trustees are required to: select suitable accounting policies and then apply them consistentty; obseNe the method5 and principles in the Charities SORP: make judgments and estimates that are re050nable and prudent- state whether applicable UK Accounting Stsndards have been fo51owed. subject to any material departures disclosed and explained in the financial statements: prepare the financial statements on the going Conrn basis unless it is inappropriate to presume that the charitable company will continue in business. The Tru51ees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable companTrls transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Art 21JJ6, the Trustee Investment {Scotlandl Act 2(K15 and re8ulation 8 of the Charities Accounts Iscotlandl Regulations 21x. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. So far as each of the Trustee5 15 aware at the time the report is approved= there is no relevant audit information of which the charitable compan$ auditors are unaware- and the Trustees have taken all steps that they ought to have taken to make themselves aware of anv relevant audit information and to establish that the auditors are aware of that information. Forrnat of the Financial Statements The financial statements have been ppared so as to cornply with the Stotement of Recommended Practice for Chorities (SORP 2015) (Second Edition. effectwe l Jonuory 2019J, the Finoncial Reporting 5t¢7ndord opplicoble in the UK ond Republic of I10nd IFRS 1021 and the Companies Act 21))6. The financial statements a150 comply with current statutory requirements and with the requirements of the Charivs own rules. In approving thi5 Trustees Annual Report. the Trustees are also approving the Strategic Report included here in their capacity as Company Directors. This report was approved by the Board and Signed on it5 behalf by= Paul Rochford Chairman 7 May 2024 24-
Gardeners. Royal Benevolent Society Auditorf5 Report for the Year Ended 31 Dernber 2023 08828584 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF GARDENERS, ROYAL BENEVOLENT SociErY Oplnlon We have audited the financial statements of Gardeners. Royal Benevolent Society for the year ended 31 December 2023 which comprise the Group Statement of Financial Actrvities. the Group and Parent Charitable Company Balance Sheets. the Group Cash Flow Statement and notes to the financial statements. including a summary of significant accounting policie5. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financlal Reporting Standard 102 The Finonciol Reporting Stondord upplicoble in the UK ond Republic of Ireland (United Kingdom Generally Accepted A¢¢ounting Practice). In our opinion, the financial statements= give a true and fair view of the state of the group's and the parent charitable company's affairs as at 31 December 2023 and of the group's and the parent charitable companlls net movement in fund5, including the income and expenditure. for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practlce; and have been prepared in accordance with the requirement5 of the Companies Act 2006. the Charities and Trustee Investment Iscotlandl Act 21x15 and regulation 8 of the Charities Accounts (Scotland} Regulations 2006. Basls for Opinion We conducted our audit in accordance with International Stsndards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditorfs Responsibilities for the Audit of the Financial Statement5 5ettion of our report. We are independent of the 8roup in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethital 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 auditin8 the financial statements. we have concluded that the Trusteeg use of the goin8 concem 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 collertively. may cast significant doubt on the 8roup'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 respert to going concem are described in the relevant sections of this report. Other Informatlon The Trustees are responsible for the other infomation. The other infomlation comprises the information included In the Trustees, Annual Report and the Chainnan's Introdurtion. Our opinion on the financial Statement5 does not cover the other information and. except to the extent otherwise explicitly stated in our report, we do not express any forni of assuronce conclusion thereon. -25-
Gardeners, Royal Benevolent Society Auditorfs Report for the Year Ended 31 December 2023 08828584 In connection with our audtt of the financial stotements. our responsibility is to read the other informotion and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our kIw1edge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to detemine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have perfomied, we conclude that there is a material misstatement of this other infomation, we are required to rep)rt that fart. We have nothing to report in this regard. Opinions on Other Matters Prescrfbed by the Companie5 Act 2006 In our opinion. based on the work undertaken in the course of the audit= the information Biven in the Trustees. Annual Report (which includes the strategic report and the directors. report prepared for the purposes of company lawl for the financial year for which the financial statement5 are prepared is consistent with the finantial statements- and the strategic report and the director report included within the Trustees. Annual Report have been prepared in accordance with applicable legal requirements. Matters on Whlch We Are Required to Report by Exceptlon In the light of the knowledge and understanding of the Broup and the parent charitable company and its environment obtained in the course of the audit. we have not identified material misstatements in the Trustees. Annual Report Iwhich incorporates the strategic report and the directors, report). We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Accounts (Scotland) Re8ulation5 2(X)6 {a5 amended) require us to report to you if, in our opinion: adequate accounting records have not been kept by the parent charitable company• or returns adequate for our audit have not been received from branches not visited by us- or the parent charitable company financial statements are not in agreernent with the accounting records and returns- or certain disclosures of trustees. remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit. Responslbilities of Trustees for the Financlal Staternents As explained more fulty in the Trustees. Responsibilities Statement set out on pa8e 24. the Trustee5 Iwho are also the directors of the charitable company for the purposes of charity lawl 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 Trustee5 detemine 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 ststements. the Trustees are responsible for assessing the group's and the parent charitable company's ability to continue as a going concern. disclosing. as applicable. matters related to goin8 concern and using the going concern basis of accounting unle55 the Trustees either intend to liquidate the group or the parent charitable company or to cease operatbons or have no realistic alternative but to do so. Auditorfs Responsibilities for the Audlt of the Financial Statements Our objectives a to obtsin reasonable assurance about whether the financial statements a5 a whole are free from material misstatement, whether due to fraud or error. and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance. but Is not a guarantee that an audit con(lu¢ted In accordance with ISAS IUKI will always detect a material misstatement when it exists. -26-
Gardeners, Royal Benevolent Society Auditorfs Report for the Year Ended 31 L)ecember 2023 08828584 Misstatements can arise from fraud or error and afe considered materlal if. individually or in the aggregate. they could a$onabfy be emperted to influence the economic decision5 of users taken on the basis of these financial statements. IrgularItIeS, Including fraud. are instances of non<omplian¢e with lavn and re8ulation5. We design procedures in line with our responsibilit$. outlined above. to detect material mi5Statements in respect of irregularities, Including fraud. The extent to whlch our procedures are capable of detertinE IrguIaritie5. including fraud 15 detailed below= Based on our understanding of the 8roup and the enwronment in which r( operates. we identified that the principal risks of non-compliance with laws and regulations related to compliance with regulatory requirements of the Charity CoMmissn, employment law. health and safety regulations and compliance with Financial Conduct Authortty rules in respett of debt advice work. and we considered the extent to which non<ompliance might have a material effert on the financial statements. We also considered those law5 and 8vIationS that have a direct impact on the preparation of the financial statements such the Companies Act 2(X16. the Charitie5 Act 2011. payroll taxes and VAT. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial Statements (including the risk of override of controls) and determined that the principal risks were related to reco8nltlon of incorne and management bias in certain occountin8 estimates. Audit procedures performed by the engagement team included: Inspectln8 Trustees. meeting Minutes: Inspecting correspondence V47th regulators and tax authoritie5.' Discussions with management includin8 consideration of known or suspected Instances of non- compliance with lav and gUlatIon and fraud: Evaluatin8 mana8ernenYs controls designed to prevent and detect irregularitles,. Identifying and testing joumals,. and Challenging assumptions and judgements made by management in their critical accounting estimates. Because of the inherent limitations of an audit. there Is a risk that we will rt detert all irregularities. including those leading to a material misstatement in the financial statements or non-compliance with regulatlon. Th15 risk increases the more that compliance with a law or regulation is removed from the events and transactw)n reflerted in the financial ststements. as we will be less likely to become aware of instances of non-compliance. The risk is also greater regardiry irregularit$ occurring due to fraud rather than error, as frnud involves intentional concealment, forgery, collusion. omission or misrepresentation. A further dexription of our responsibilities for the audrt of the financsal statements is located on the Financial Reportin8 Council'5 website at www.frc.ory.uvaudltorsresponslbllltles. This description forms part ofourauditorfs report. Use of Our Report This report Is made solely to the charitable comparfs member5, as a body. in accordance with Chapter 3 of Part 16 of the Companies Art 2W6. section 44llllcl of the Charities and Twstee Investment (Scotlandl Art 20)5 and re8ulation 10 of the Charities Accounts Iscotlandl Regulations 21X)6. Our audit work ha5 been undertaken so that we might State to the charitable compan5 members those matters we are required to state to them in an Auditorfs 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 charitable company and the charitable compan(s members as a body. for our audit work, for this rert. or for the opinlons we have formed. Lee Stokes Isenior Statutory Auditor} for and on behalf of Haysmacintyre LLP. statOry Auditors 10 Queen Street Place, London EC4R IAG e I¢yL 27.
Gardeners. Royal Benevolent Society Financial Siatefflent5 for the Year Ended 31 December 2023 08828584 GROUP STATEMENT OF FINANaAL AcnvmES FOR THE YEAR ENDED 31 DECEMBER 2023 Vnrestrlrt•d Restrkted Gener•1 Oesi8n•te l•Kome Fund5 Funds Totsl Funds 2023 EOLYJ Unrestrlctsd G•n•r•l Dlated Funds Fuk)ds R•strlct•d Inwme Fynds £0 Total Funds 2022 Not• Income from: Donations Le8acies ChaTltable activities Accommodation Gardens Friends of Pefennial ImembershSpsl Other tradinB activities TradinB subsidlary Fundralslng events Invesimen15 Other 653 1,040 152 71 430 1,328 92 522 1.328 I,iii 53 152 65 53 152 93 47 102 42 47 102 73 28 31 667 114 106 667 114 1,602 553 117 124 SS3 118 1.283 io 32 1,134 25 T•t•l Incom• 614 Expendliure on: Chorliable actfvitles Advice and casework Grants and benefits Gardens Housin8 and Cafe Marketin8 Raisln8 funds Fundraising Costs Trading subsidiary Investment management Impairment of property asset held lor reIe Tthal Expenditure 12 12 12 12 1.672 446 1.130 85 902 L672 453 1.130 85 902 1.522 357 975 82 786 I,S22 372 975 82 15 12 12 9,12 12 482 619 204 450 569 554 15 619 li 450 554 206 189 187 20 li 997 138 Net Opwatlng 5urplusll0efkltl IcntontAtpgtl 1,119 12,5231 21 Ii,a831 AASO 12A891 IL0331 -28-
Gardeners. Royal Benevolent Society Financial Statements for the Year Ended 31 December 2023 08828584 GROUP STATEMEKf OF FINANaAL AcnvmES FOR THE YEAR ENDED 31 DECEMBER 2023 (continued) Totsl Funds 2023 Unrtttrlcted R•5Qrirtod Total Funds 2022 General D•sIated Funds Ful5 £000 InMme Funds nds Funds £000 Funds Not• Net Operatln8 SurplusllDefldtl Ib/lfvmw*kntspoqeJ Nei 8alnlllossl on investments 16 Net IncomellExpendll¥r•l Transfers between fund5 L119 127 12.5231 21 11,3831 1,450 li 12.4891 11.0331 177 &246 {4261 839 110,7511 11711 110,0831 14èt {Decre•sellinry••w In Funds Reconclllation of funds.. Total funds brought forward Tot•1 fvnds UVTled lorw•rd 17541 1,574 {1,1611 18,751) 11711 154 32 32 659_ l Jrnounls reknte to wnllnulni tsperatlons. The Note5 on p48e5 33 to 47 form part of theje Iln•nclal 3tstemÈTrts. .29-
Gardeners, Royal Benevolent Society Financial Statemen15 for the Year Ended 31 December 2023 08828584 GROUP BALANCE SHEET AS AT 31 DECEMBER 2023 Tot1 Funds 2023 Unlestrkted General DESly)aied Fynds Funds ekI¢d Total Funds 2022 General DE51gNted Incom• Funds Funds Funds Not• Flxed A55ts Tangible assets Invesiments 15 16 4.652 5,482 853 4,823 5,676 Curreht Assets Stock Debiors Short term cash investmenis Property asset held for sale Cash at bank and in hand 17 84 1,194 372 250 91 772 1,033 7C(I 91 772 1,033 1,194 372 250 19 20 2,528 2.532 2.976 52 2.980 Cred5tor5: fallln8 due within one year Net Curr•nt Assets 21 180 24 Total Ass•ts L•ss Current Uablllil•s Tot•1 Fundi 939 The f h•rity-onty s1$101th¢ ar•MOUnted io E841,298. The Notes on pages 33 to 47 forrn partol these flnorKial statenRrts. The l*i•ncial sutements were opproved and authofised fov Issu• rd of Truste•s and were silntd on Ils behall on 7 May Z024. Paul Rochford Chairmon Steven Palmer Hortornry Treasiirer
Gardeners' Royal Benevolent Society Financial Statements for the Year Ended 31 December 2023
08828584
CHARITY BALANCE SHEET AS AT 31 DECEMBER 2023
| Unrestricted | Unrestricted | Restricted | Total | Unrestricted | Unrestricted | Restricted | Total | |||
|---|---|---|---|---|---|---|---|---|---|---|
| General | Designated | Income | Funds | General | Designated | Income | Funds | |||
| Funds | Funds | Funds | 2023 | Funds | Funds | Funds | 2022 | |||
| £000 | £000 | £000 | £000 | £000 | £000 | £000 | £000 | |||
| Note | 1-3 | 3-5 | 6-7 | |||||||
| Fixed Assets | ||||||||||
| Tangible assets | 15a | 830 | 4,652 | 5,482 | 853 | 4,823 | 5,676 | |||
| Investments | 16 | 2,961 | 55,005 | 1,218 | 59,184 | 3,244 | 53,260 | 1,152 | 57,656 | |
| 3,791 | 59,657 | 1,218 | 64,666 | 4,097 | 58,083 | 1,152 | 63,332 | |||
| Current Assets | ||||||||||
| Debtors | 18 | 1,236 | 1,236 | 814 | 814 | |||||
| Short term cash investments | 19 | 372 | 372 | 1,033 | 1,033 | |||||
| Property asset held for sale | 20 | 250 | 250 | 700 | 700 | |||||
| Cash at bank and in hand | 576 | 2 | 2 | 580 | 373 | 2 | 2 | 377 | ||
| 2,434 | 2 | 2 | 2,438 | 2,920 | 2 | 2 | 2,924 | |||
| Creditorsfaling due within one year | 21 | (339) | (339) | (332) | (332) | |||||
| Net Current Assets | 2 095 | 2 | 2 | 2 099 | 2 588 | 2 | 2 | 2 592 | ||
| Total Assets Less Current Liabilities | 5 886 | 59 | 59 | 1220 | 66 76$ | 6 68 | 58085 | 1154 | S 924 | |
| Total Funds | 3 | 659 | 1220 | §SS | 5808 |
The Notes on pages 33 to 47 form part of these financial statements.
The financial statements were approved and authorised for issue by the Board of Trustees and were signed on its behalf on 7 May 2024.
Paul Rochford Chairman
Steven Palmer Honorary Treasurer
- 31
Gardeners, Royal Benevolent Society Financial Statements for the Year Ended 31 December 2023 08828584 GROUP STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEM8ER 2023 2023 20Z2 £000 £0 £000 Re£ondllatlon of net in¢(Kne to net cash flaw fr(vn operaiAw actl¥ltles Net income/lexpenditurel for the reporting period las per the SOFA) Impairment of property asset hekl for resale Depre¢iation Charges IGainsl/Losses on Investments Dividends, interest and rents from investments (Profit) on the sale of fixed assets Deuease in stock Iincreasel in debtor5 Increase in treditors 886 450 222 12.2691 11.6021 110.0831 225 9,050 11,2831 21 11891 14 14221 Net 5h (used In) oper*ing actl¥ltles Cash Ilow$ fr4Mn In¥estlni artlvltles Dividends, Inte$t and rents from lrwestrnts Proceeds from the sale ¢tf property. plant and equipment Purchase of property, plant and equipment Proceeds from the sale of investments Purchase of investments Net cash ¥enerated from In¥estlng actlvTtles Change In cash and c•5h e4uNalents In the repartini period Cash and cash equivalents at the beginning of the reportin8 periL)d Cash and cash equarents at the end of ohe reprytlng perfod (2,7351 112451 1.602 12 1331 26.765 1,283 1211 33,485 14131 71 Analysis of Changes In Cash and Cash Equlwalents At l 2023 Cash flows Other norpcash At 31 De¢ 2023 £000 Noti deposits {less than 12 monthsl Cash 1.033 16611 372 632 Totsl cash and cash equivalents 417 32
Gardeners, Royal Benevolent Society Notes to the Financial Statement5 for the Year Ended 31 December 2023 08828584 NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 l. Accounting Polldes The followln8 accounting policies have been used ¢onsistentty in the preparation of the financlal statements. Ba$is of Preparatlon The financial statements havè been prepared in accordance with the Stotement of Re¢ommendedProctice[or Charities {50RP 2015) (Second Edition, effective l Junuary 2019} Icharitres SORP IFRS 10211. the FinoncialReporting Stondord upplicoble in the UK ond Republic of Ireland IFRS 1021 and the Companies Act 2C*)6. Perennial meets the definition of è public benefft Èntity under FRS 102. Assets and liabilities are Initially reco8nised at historical cost or transaction value unless oihenvise stated in the levant accountin8 policy note(sl. Golng Concern Inflation will inevitably have a severe impact on our service users over 2024 which we anticipate will continve to lead to an increaslng flnancial demand on the Charity. Our investments regained some value in 2023 but the effert of rnaet movements on their future carryln8 value5 continue5 to be an area of UnrtaInty. Having considered fulure budgets, cash flows and reserve5, the Trustees confirm that th have no material doubts about the Charitrfs ability to meet its debts as they fall due. There a no rnaterial uncertainties that would impact on the Charity's ability to continue sn operational e$tence for the foreseeable future. The accounts are therefore prepared on a going concern basis. Group Flnan¢i•l Statements The flnancial statements consolldate the results of the Charity and its wholly owned subsidiary, GRBS IEnterprisesl Ltd. on a Ilne-by-line basis. A separate Staternent of Financial A¢tivitie5 and Income and Expenditure Account for the Charity have not been presented baUSe the Trustees have taken advantaBe of the exemption afforded by Section 40B of the Companies A 2CQ6. The income and expenditure of the subsidiary ¢ompany are separately disclosed within the Group Statement of Financlal Attivities and form part of unrestricted general funds. Further detai15 are di5dosed in Note 9. Funds Unrestrlcted funds are available for use at the diKretion of the Trustees in the pursuit of Perennlal's charitable objectives. Desi8nated funds are unrestrlcted funds that have been set aside for speafic purposes at the discretion of the Trustee5. Re5trlcted funds are to be used for particular purpose5 as Specifi by the donor. In the case of desigftated and restricted funds, expenditure that meets the specific criteria Ss char8ed to the fund. Including a fair allocation of support costs where appropriate. It is the Trustees. policy to retain- sufficient unrestrirted funds to help mitigate the short-term effects of income volatillty and unexpected Increases in expenditure; sufficient designated funds to generate a core component of investment income to supplement rnore volatile voluntary income in order to support the Charitys lon8-term commitment to provide on-going servi% to its benefiaarles. Full details of the movements on funds and their purpose are set out in Nore$ 4-8. Income Reco8nltlon All income ts re¢ogni5ed once the Charlty has entitlement to the Income, it is probable that the income will be recelved. and the amount of income can be measured reliably. For legacies, entitlement is considered to be the earlier of when either.. notifr¢4tion has been recdved from the executor that probate has been granted and the Charity is expected to recelve a istribution: or a distribution ha5 been recèived frorn the estate. Receipt of a le8ary 15 only considefed probable when the executors have indicated that there are sufficient assets in the estate to make a distribution. Where le8acies have been notified to the Charity. but the criteria for income recognition have not been met. then the le8a¢y is treated as a contingent asset and disclosed rf material. Reversionary interests are not recognised until the cessation of the life interest,. they are then valued as for residuary Ia¢le5. 33
Gardeners, Royal Benevolent 50¢iety Notes to the Financial Statements for the Year Ended 31 December 2023 08828584 Donated goods and services are re¢o8nised as income when the value of the economic benefit can be measured reliably, which is the amount the Charity would have tjeen prepared to pay to obtain the equivalent goods and servi5 on the open market.. a corresponding amount is then recognised in expenditure in the period of receipt. In accordance with the Charities SORP IFRS 1021, general volunteer tlme is not recognised in the finanual 5taiements. Other donations are recognised when recelved. Income received in advan of our Special Events is deferred until the date ofthe event. Expendlture Expenditure is re¢ognised once there is a legal or Constructlve obligation to make a payment to a third party, it is probable that settlernent will be required, and the amount of the obligation can be measured reliabfy. Thè expenditure on each aCii¥ity Comprises the direct costs of the a¢tivity togeiher with support costs as shown In Note 12. Direct costs include depreciation on assets used to delNer the activity. Expenditure is accounted for gross of irre¢overable VAT. Grants and benefit payments are charged to the Statement of Financial Activities in the year in which the obligation to make payment falls. Allocatlon of Governance and Supwt Costs Governance costs relate to the statutory and legal olAigations of running the Charity. They indude the costs of trustee meetings, audit and legal fees. Support Costs are those functions that enable the work of the Charity. but wlich do not direct undertake charitable activities. These costs have been allocated on the basis of: Secret3rlat Governance Finance Prpmise5 linduding associated depreclationl IT linduding assoaated depreciation) Other Administration rime spent on actity Spend per departrnent Spend per departrnent Number of staff based at Head Office Number of staff in department Nurnber of staff in department Pensions The Charity provides a group money purthase defined tontribution pension Kheme operated by Aviva via a salary satrifito arranBement. All eli8ible employees are autornati¢ally enrolled into it unles5 they have exercised their right to opt out. The Charity makes a matchin8 Contribution of between 4.0% and 7.5% of salary to the scheme. The amount included in the siaternent of Flnancial Actlvities represents the total amount payable by the Charity in the year. Fixed Assets In(Jividual rtxed assets costing £l,LhXI or Mo(£5£) for IT equipment} are ¢aptalised at cost- otherWe the cost Is treated as an expense in the year of purchase. Fixed assets are depreciated over their estimated useful economi¢ lrfe as follows: Freehold Olfice, Housing Properties and Gardens Furniture, Fixtures and Fittin IT Equiprnent Motor Vehicles 40 years12%% per annuml 5 years120% per annuml 3- 5 years120% to 33% per onnuml 25% reducing balance basi5 Investments Investmènts are stated at their fair value on the last day of trading before the year end. Galns and Losses on Investments Realised and unrealised gains and1055es In the Statement of Financial Actiwtses represent the aggregate of 8ains or10sses achieved by the Charity on investments sold during thè year together with the net increase or decrease In market value of the Inve5trnentS since the last balance sheet date or the datè of acquisition. if later. lrtvestment income. gains and losses are allocated to funds in proportion to the ¢)pening value of investments held in each fund. -34-
Gardeners. Royal Benevolent Society Notes to the Financial Statements for the Year Ended 31 December 2023 08828584 Stock Stod( is induded at the lower of c05t or net realisable value. Donated items of stock are reco8nised at fair value. which is the amount the Charity would have been wlllin8 to pay for the Items on the open market. Debtors Trade and other debtors are recogni5ed at the settlement amount due after èny trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at Bank and In Hand Cash at bank and in hand In¢ludes bank accounts. cash and 5hort-terni. highly liquid investments wrth a short maturity of three months or less from the date of acquisition or opening of the depo51t or similar account. Creditots and Provlslons Creditors and provisions are re¢ognised where the Charity has a present oblr8atTron resulting from a past event that will probabty result in the iransfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provlsions are normally reco8nised at their settlement amount after allowing for any trade dlscounts due. Financial Instrnments The Charity onty has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially Tecognised at transartion value and 5ub5equently measured at their settlement value. Si8nificant Judgements and Sources of Estlmatlon Uncertalnty In the view of the Trustees. in applying the accounting policies adopted, the valuation of Attleborough Lodge (see Note 201 was the only jud8ernent ihat may have a significant effect on the amounts recognised in the finanaal statements or carry S4gnifi¢ant risk of material adjustment in the next financial year. 2. Taxatlon As the Charity only undertakes artivities relatin8 to its charitable status. it has no liability to tsxation with the exptIOn of irrecoverable Value Added Tax. No taxation is payable by GRBS (Enterprises) Ltd as it Gift Aids its taxable profits to the Charity- 3. General Funds The Trustees have reviewed the ChariWs reserves policy; as part of this process. the amounts held in designated funds have also been revlewed. Transfers between general fund5 and desi8nated funds are shovm in Notes 4 and 7. The total fund balano as shown in the Statement of Financial Activities is analysed as: 2023 £000 2022 £ocrf) Charlty general funds Net assets of trading company Group general fund5 5,886 6,685 The net assets thai comprise general funds a shown on the Group and Charty Balance Sheets. -35-
Gardeners, Royal Benevolent Society Notes to the Financial Statements for the Year Ended 31 December 2023 08828584 4. Analysls of Fund Transfers Transfers were made at 31 December 2023 as follows- General De558nated Restrkted Fund Funds Funds £thJo £DJo 2023 Total Transfer general funds to -alIgn balance5 in desTrgnated fijnds Designate Beneral funds to cover runnin8 ¢0sts of The Laskett 11.6441 356 1,644 356 General funds have been traferred to designated funds- the re5erve5 held in individual funds have been rebalanced to ensure that the Invesiment Income generated provbdes an appropriate level of support to each of our charitabl• artivIt.
Gardener5' Royal 8enevolent Soclety Notes to the Financial Statements for Year Ended 31 December 2023 08828S84 S. De$l8nated Funds Gdener$ Roy41 Oen Funds ilfonl Ti*lnln8 Fund £(M)o Garden funds 2023 Gardeners Totsl Royal a•n Funds Funds Uronl Tralnlni Fund ÉOJO Garden Fur5 2021 Total Fyndi £000 £o(x) £OCL) Income from: Donations Lega¢les Accommodatlon Gardens Fundra151n8 events Investments Other 147 IS2 71 53 217 92 71 53 47 47 144 217 144 1.165 78 161 893 61 1.134 Total Income ExpendSture on: Advice and casework Grants and benefits Gardens Houslng and care Mafkelln8 Investrnent rnana8ement Toial Expendllure Net Operatin8 IDeficlt115urplus Net 8alns on Investments Transfers beiween funds Il•t InueasellDecreasel In Fund% Desi8nated funds bfou8ht forward Desi8nated funds carried forward 1.672 278 1,672 446 1,130 85 902 1,522 222 1.522 357 975 82 135 1.130 975 85 862 82 7S2 29 11,6821 1,667 17411 319 12,5231 2.IB7 11,6971 {6.5161 1841 14491 17081 11.2971 12,4891 18,2621 iii 1,629 li 1,574 16,47Jl 277 1533) 11,7451 18.7511 56 Tan8ible fixed ass$ Investments Net current assels Net assets of desl8nated funds 422 44,011 4,230 8,158 4.652 55,(KJ5 458 42,346 4,365 8,089 4,823 53,260 2.836 2,825 -37-
Gardeners, Royal Benevolent Society Notes to the Financial Statements for the Year Ended 31 December 2023 08828584 6. Use of Desl8nated Funds The allocatlon of reserves to designated fund5 15 an effectrve way to manage the charit5 re50urces and to protect its abillty to continue to meet its commitments for the foreSeeae future. Gardeners. Royal Benevolent Funds This group of de5ignaled fvnds carries the very essen of the Charity from its foundation in 1839 to provide for the long-term fteS of its beneficiaries. Having grown over many years from donations. bequests and investment returns, these importsnt funds ensure the Charity is able to meet it5 long-tem commitment to both current and future beneficiarie5, as follows.. 1839 Regular 8elkI Fund: The fund for re8ular quarterty benefit payrnents-typTrcally to beneficiaries who have retired. possibly for the remainder of thelr lives. Good Samarltan Welfare Fund: The fund was established in 1899 to provide emergency payments in cases of special need. Its purpose has siftce been extended to cover all grant payments made to beneficiaries. The fund is used to provide rented accommodation to retired horticulturalists in a selectlon of self-¢ontained bungalow. Retlrem•nt Houslng Fund: Long Terni Cwe Fund: The fund provide5 financial support to beneficiarie5 for the care they need. either to meet the fees charged in residential and nurslng care homes or to help to pay for care at home. The fund pays for the Charitys nationwide team of Caseworkers and Debt Adviser5, who assess and review payment5 from the funds de5crsbed above as part of the service to our beneficiarie5. which aims to help them identify and cope with the problèms they face. Advke & Casework Fund: Llronl Trainlng Fund The fund wa5 established in 2(1)9 in memory of Ms J Lironi who left a s*nifKant legacy to the Charity to Pfo¥ide an income to pay for tralning initiatives. The fund provides bursaries to support trainee gardeners, together wlth support to attend trainln8 course5 and grants for horticulturtsts. children who are entering trainin8. Garden Funds Each of thÈ5e designated funds exist for the purpose of ensuring the gardens a5 a visitor attra¢tion to promote the Charitv, to ensure that the land and buildings are Maintaid. and the original character of the 8arderb is preserved and enhanced. Fullers Mlll fjarden,. The fund wa5 ueated in 2012 on the merger with the Fullers Mill Trust, originally Set up as tharitable tNst for the speofic purpose of preserving and running the garden. The fund includes reserNe5 set aside for the purpose of developing the facilities at the garden. Originalty the bequest of the late Sybil Spencer in 1994. the purpose of this designated fund is to maintain operate York Gate house and 8arden in Adel. near Leeds. The amount held within the fund preSentS the original capital pr¢)vided in the bequest for the purpose of preserving It, as well as the property itself. DurinB 2020, the redevelopment work at York Gate was completed and the adjoinin8 York Gate Cottage. was cortsolidated into one single property- General funds were transferred to this fvnd to reflect the investment in the garden. When &r Roy Strong donated his house and garden plus associated properties in Heref0rdshI to Perennial in 2021. this new designated fund was Created to initialty hold the value of the land and buildings. The fund will ultimately hold any further legacy left by &r Roy, to be used to maintain and operate the garden. York Gat• Garden: The Laskett Garden: -38-
Gardeners. Royal Benevolent SOcty Notes to the Financial Statements for the Year Ended 31 December 2023 08828584 7. Restrlrted Income Funds Client Grants Fund Chlldr•n's Fund 2023 Totsl Cllent Grant5 Fund Chlldren's Fund 2021 Total £th)o Income from: Investments 2S Total Income 25 Expendhure ¢)n: Grants and benefits nvestment mana8ement Total Expenditure Nei Qperatlng Surplus Net IlossÈsll8oins on Invesiments M•t IOe¢re•s•lllncrn•s• In Funds Restrlcted funds brought forward Resirlcted funds carrted lor*afd Is 15 li 21 21 77 11711 324 1171) In¥eslmenls Net current a55ets 1.218 1,218 1.152 1.152 Net assets of restricled funds 39-
Gardeners. Royal Benevolent Society Notes to the Financial Statements for the Year Ended 31 December 2023 08828584 8. Use of Restrlcted Funds Cllent Grants Fund The Cliènt Grants Fund is used for all restricted grants an(J donètions received to enhan the finanoal 511PPOrt that the Charity gives, whether for use in a specific area of the country or specificalty for indrvidual service users. Chlldren's Fund The Children'5 Fund was estaNished on the mer8er with the Royal Fund for Gardeners. Children in 2010. It is dedicated to the education of children of horticulturists. providing financial support to help fund educational opportunities, even where parents are not in dirert receipt of Perennial'5 help. Bur53Tie5 may be available towards the additional costs of a child's education, such as laptops or tablets essential for school use. after-school dubs or school trips. school unlform or sports equlpment and school meals. 9. Tradlng Subsidiary GRBS IEnterprisesl Ltd. a company incorporated in England and Wales Inumber 8912771, is wholty owned by the Charfty and Uses the trading narne Pefennral TradÈn8. Its activities are undertaken entirely for the benefit of the Charity and consist of café catering and the sale of plants and other merthandise at our gardens. via our website. t(ade stands at show5 and seasonal catalogues sent to Oilf SUPPOrteTS. 2025 2022 £000 £wo £000 Results of tradln8 subsldlary. Turnover Cost of sales Distribution costs Administratson costs 667 553 (2731 1371 12521 1471 255 554 Trading profitl{lossl from subsidiary before payments to/from Chartty Payments {tollfrom Charl. Loan interest payable to tharity Management charge5 Donor recruitment charges Rechar8ed cost5 of shared activities iii 121 171 Profit ol substdlary forthe year Ibefore taxation and Gift donat*)n to Charity) Gift Aid donation to Charity IncreasellDeueasel in fund5 of subsidiary for the year 33 Net assets of subsidiary Donotions to Chortty urisingfrom customer orders Other don¢7tions to Choritygeneruted by subsiditiry s Ottivities 18 23 10. Investment Income 2023 2022 Income from UK listed investments Income from UK listed property funds Interest from short term cash deposits 1,234 352 16 1.027 213
Gardeners. Royal Benevolent Society Notes to the Financial Statements for the Year Ended 31 Decembef 2023 08828584 11. Other Incorne 2023 2022 £000 Sale of fixed asset5 Other miscellaneou5 Itern5 io -41-
Gardeners. Royal Benevolent Soclety Notes to the Financlal Statements for the Year Ended 31 December 2023 08828584 12. Analysls of Total Expendlture by Actlvlty Ad¥lc• & Grants & C•s•work eneffts £000 Gardens Houslni Market1 Fundr•lslni Tradlno G(vMrn4n¢e & Care Costs Substdlary £C4JO HO Inveslment Support Mgmt 2J Total 20 Totsl £(#Jo Grant payments Benefit payment5 Property maintenance Depreciation Publicity & advertisSng RHS Chelsea Flower Show Other show5 & entS Legacy & donor dlopment C05t of sale5 lind. distribution) Payroll costs Travel & subsisten Other staff costs IT & communlcations Le8al and professional Trustee meetln85 Sundry expenses Investment m•na8efflent Toi•l 327 35 327 35 369 222 312 238 55 311 225 224 220 148 lis 299 13 41 32 73 iio 310 281 310 2,%3 119 113 259 134 23 81 299 2,640 95 83 242 140 19 75 1,171 59 33 76 427 14 19 17 12 319 287 25 478 12 19 119 92 io 29 14 22 23 35 io 12 14 1,351 274 47 362 860 71 745 378 619 74 204 5.547 Reallocated HO Support costs Reallocated Governance costs Exp•ndllur• on Artlvlty 79 240 12 134 91 53 18831 072 85 The allocation of expendlture to individual funds tan be found In the Statement of Flnancial Actlvitles for general funds and in Notes S and 7 for Desiqnaied and Restrlcted funds rwectivelv. The detalled compafaiive flgures for 2022 are provided on the next pa8e, -42-
Gardeners, Royal Benevolent Socrety Notes to the Financial Staten*nts for the Year Ended 31 December 2023 08828584 Advlce & Casework Grants & Benefits Gardens Hou$in8 MartKetlnE Fundralslng Trading G(wèrnance & Care Costs Subsidlary £wo MO Investment Support 2022 Total EOOO £000 Grant payment5 Benefii payments Property maintenance Oèpreciation Publicity & advertlsln8 RHS Chelsea Flower Show Other shows & events Legacy & donor development Cost of sales Ilncl. distributlonl Payroll costs Travel & subsisten her staff costs IT & ¢ommunScatlons Le8al and professlonal Trustee meetin8S Sundry expenses Investment management Total 238 55 238 55 311 225 224 99 iio 191 144 31 30 89 39 io 215 51 46 299 235 299 2.640 95 83 242 140 19 75 1,071 47 21 56 354 li 272 274 15 15 434 15 27 143 105 12 13 Is 12 24 19 12 18 20 206 1,218 270 34 293 730 638 456 554 43 206 5.066 Reallocated HO Support C05t5 Reallocated Governance cost5 ExpendIture on A¢tlvlty 71 225 12 132 loo S6 -43.
Gardeners, Royal Benevolent Society Notes to the Financial Statements for the Year Ended 31 December 2023 08828584 13. Items Induded Wlthin Total Expenditure zozy £0 2022 £000 Audit fees Depreclation 22 222 21 225 14. Staff Costs Key Mimt Personnel £OLN) other Staff 2023 Key M8mt Total Personnel £000 (Xher Staff £ocM) 2022 Total £0 Wages & Salaries Penslon contributions 398 26 2.196 iio 2,594 136 352 23 1,933 107 2.285 130 424 36 2.730 221 12 375 36 2.040 175 12 2,415 211 14 Social security costs Group life cover 463 41 Key Management Personnel are deemed to be the Senior Leadership Team (see page 481. The Charity provide5 a defined contribution group personal p*)sion scheme for its employees. Contributions are made into the scheme at rates of 4.0%- 7.5% of gross pay. The number of employees whose emoluments. ex¢ludine penslon contributions. for the year fell into the followSn8 band5 was= 2023 2022 £70,001- £80.000 £80,001- £9),000 £90.001- £1,0[) Pension Contributions of £25,81112022- £22.7621 were paid in respect of the Senior Leadership Team. The average numbers of full-tirne (Fn) and part-time (pm employees, together with their full-tirne equwalents IFTEI. at the end of the year were: 2023 2022 pn FTE Advlce & Casework Gardens Marketin8 Fundraising Other support staff 26.4 20.5 22.9 13.2 27.2 17.8 &7 -44-
Gardeners. Royal Benevolent Society Notes to the Financial Statements for the Year Ended 31 Dernber 2023 08828584 Isa. Tanglble Flxed Assets (Group and tharity) Freehold Pri)perty Fumtture & Coftwuter Other Equipment Equlpment £000 Motor Vehlcles £000 Total £000 Cost or valuation: At l January 2023 Additions Disposals At 31 December 2023 1.145 SA62 222 187 io 44 7,715 33 44 23 22 Depreclatlon: At l January 2023 Charge for the year Di5P05als At 31 December 2023 320 L173 141 128 33 274 14 144 12 2,039 222 39 Net Book Value: At 31 December 2025 At 31 December 2022 Isb. Tanglble Flxed Assets- Details of Freehold Propertles Year of Acqu151tlon 2023 Value £000 2022 Value £000 Leatherhead OffKe: Kingston Road. Leatherhead 2007 Retlrement Houses: Comberton Road, Barton, Camb516 bungalows) Leigh Road, New mion. Hants11 bungalow). Manor Way. Henfield, Sussex11 bun8alowl 1968 2002 2(h)5 544 225 190 544 225 190 959 Gardens: Fullèrs Mill Igardenl Fuller5 Mill Ihousel. York Gate York Gate Cottage The Laskeit. 2013 2018 1994 2015 2021 304 575 1.008 1.366 304 575 1,008 1.366 Historical cost equates to probate value at acquisition date. Historical cost from valuation provided by chartered Surveyor. 45-
Gardeners, Royal Benevolent Society Notes to the Financial Ststements for the Year Ended 31 Detember 2023 08828584 16. Investments Cash for Fund Investment £0 £000 2023 Total £oc 2022 Total Éooo Market value at l January Purchases of investments Disposals at carrying value Revaluation5 Market value at 31 December (Groupl Investment in subsidiary Market value at 31 December (Charity) *The Charity owns 100% of the shares of GRBS IEnterprise51 Ltd No single investment represented a material share of the totsl market value at 31 December 2023. AII UK Property investments are held in UK listed Common Irrlestment Funds. 44.1 33.724 126.765) 5.756 7.871 17,7001 57.628 26.024 126,7651 67,732 32.431 133.4851 050 345 53.574 5,411 171 59.156 28 57,628 28 17. Stock Group Charltv 2023 £000 2023 EO 20ZZ 2022 Goods for resale Plant stock for resale 71 78 13 18. Debtors Group Charfty 2023 £th)o 2023 2022 2022 Trade debtors VAT Recoverable Prepayments Accrued le8ade5 Other accrued income Other debtors Due from subsidlary 14 20 li 13 18 105 ioi 70 522 61 72 472 112 73 232 33 232 32 54 772 19. Short Term Cash Investments rxoup Charlty 2023 £000 2023 £OL 2022 £000 2022 £000 Deposit and notice accounts 372 20. Property Asset Held for Sale Mlss Garriier Ideceasedl left her listed house and land to Pefennial. It was transferred to Perennial in November 2020 and was recognised in the accounts at its Probate value of £7(Kl.(W. The Trustees have agreed that our benefi¢iaries' interests are best served by selling thè propertv. The property was conditionally sold in 2021, subject to planning permission. for £953,(KKI. It is unlikely that planning permission will be achieved in either the envisaged tirnescale or scope. An smpairment thar8e of £450,LLKJ has been recognised in the 2023 accounts.
Gardenerg Royal Benevolent Society Notes to the Financial Statements for the Year Ended 31 December 2023 08828584 21. Credltors: amounts fallln8 due within one year Group Charlty 2023 £000 2023 £000 2022 £000 2022 £tsJo Trade creditors Taxation and social security Accruals Provislon for benefit5 payable Deferred income Other creditors 91 88 59 78 46 59 ioi 95 21 43 56 21 43 36 36 339 Deferred Income relates to fees received in advance for e4ents to be held in 2024. It is fully relèase(J in the year that the event Is held. 22. Operatln8 Lease$ Experted future Minimum lease payments over the remainln8 life of the lease. analysed into the period in whl¢h the commitment falls due= 2023 £oJo 2022 £IK)O Within one year In the second to fifth years linclusivel Lease payments of £3,71612022.' £3.7161 were recognised a5 an expense durin8 the year. 23. Related Party Transaclions There were no related party transaction in the year12022: 1- a trustee sold £374 of 8reetin8s cards to the trading subsidiary in n arm'5 length transattionl. No Trustee received remuneration during the year12022'. £Nill. Expendlture of £3,605 was incurred on Trustee5' travel. subsistence, and accommodation, includin8 £3,422 relmbursed to seven Trustees12022.. total expenditure of £3.175 with £2,883 reimbursed to five Trustees). 47-
Gardeners. Royal Benevolent Societv Trustees, Annual Report for the Year Ended 31 Oecember 2023 08828584 OFFICERS. COMMITTEES AND ADVISERS OF THE CHARITY Honorary Office Holders Patron HRH Princess Alemandra Presldent Alan Titchrnar5h M8E. VMH. DL Vlce Presldents Jim Buttre5S VMH Lord Cavendish of Furness Alan Down Nicholas Woolf OBE K5rJ Sir David Howard Bt Alan Kendall Jp. M8E Dou8al Philip Sir Roger Singleton C8E Sir Roy Stron8 CH Keith Weed C8E Members There We 97 Member5 of the Charity at 31 December 2023. Members of company do not hold shares but are entltled to vote. attend AGM5 and elect TNstees. The membership con5i5t5 of a whole range of supporters. including current and previous vice presidents, trustees. amba558dor5. prominent figu in horticulture and volunteers who have 8lven exceptional servKe. Board of Trustees Paul Rochford Cynthia Peck Steven Palmer Carole Baxter David Buchanan-cook Andrew Fisher Tomlln (to 31 Dec 2023J Simon Goodenou8h Urom 10 Jul 2023 to 9 Jon 20241 Malcolm Goodwln (to 30 Apr 2023) Maureen Hart Jp Richard Lawton Helen Seal Barbara Segall Emma finker Chairman WKe Choirmon Honomry Treosurer Jamie Gault Secretory to the Lwoord of Trusrees Senlor Leadership Team Jamie Gault Anlta Bates Ito 10 Apr2024} Julia Hayne Simon Kemp Amy Routley Chief Executive rertor olmorketing & Fundroising Director of Services Director of Finance Director of Operotions
Gardeners' Royal Benevolent Society Trustees' Annual Report for the Year Ended 31 December 2023
08828584
Committees of the Board of Trustees at 31 December 2023
Marketing and Fundraising Committee
Andrew Fisher Tomlin Anita Bates Carole Baxter Nina Baxter David Buchanan-Cook Paul Rochford Barbara Segall Jeremy Storey-Walker
Chairman Director of Marketing & Fundraising Trustee member Co-opted member Trustee member Trustee member Trustee member Co-opted member
Nominations Committee
Paul Rochford Cynthia Peck Andrew Fisher Tomlin Maureen Hart Steven Palmer Jamie Gault
Chairman Vice Chairman Chairman Marketing & Fundraising Committee Chairman Policy & Services Committee Chairman Resources Committee Chief Executive
Policy and Services Committee
Maureen Hart Julia Hayne Alan Kendall Jo Ripley Paul Rochford Helen Seal
Chairman Director of Services Co-opted member Co-opted member Trustee member Trustee member
Resources Committee
Steven Palmer Simon Kemp Richard Lawton Ian Maxwell-Scott {Investment sub-committee only) Cynthia Peck Paul Rochford Emma Tinker
Chairman Director of Finance Trustee member Co-opted member Trustee member Trustee member Trustee member
The Chairman of the Board ofTrustees and the Chief Executive may attend all Committees.
Professional Advisers
Banker
Auditor Banker Solicitor Haysmacintyre LLP Lloyds Bank Russell-Cooke 10 Queen Street Place 39 Threadneedle Street 2 Putney Hill London London London EC4R lAG EC2R SAU SW15 GAB Investment Managers Rathbone Brothers Investec Wealth & Investment 8 Finsbury Circus 30 Gresham Street London London EC2M 7AZ EC2V 7QN
Rathbone Brothers 8 Finsbury Circus London EC2M 7AZ
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