Registered number: Charity numbers: 08828584 1155156 SC040180 GARDENERS, ROYAL BENEVOLENT SOCIETY (COMPANY knMITED BY GUARANTEE) A￿0 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 De￿fflber 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 De￿rnber2023 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 De￿rnber 2023 08828584 OUR ACTIVITIES The 12.month period to 31 December 2023 covered in this annual report is the first in re￿nt 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￿ Servi￿5. 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& hea￿h, 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 t￿8trnent. 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 De￿mber 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. Pe￿nn181 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 pro8￿ss. 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 respon￿bilities. 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 lifeook, 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: respon￿ble 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 Se￿1￿$ 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 St￿ngth to meet its commitment to our beneficiaries. IK*th now and In the future. The policy focuses on the level of "f￿e 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 d1￿ct 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 Con￿rn 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 p￿pared 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 I￿10nd 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 De￿rnber 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 kI￿w1edge 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. Ir￿gularItIeS, Including fraud. are instances of non