Registered number: Charity numbers: 08828584 1155156 SC040180 GARDENERS, ROYAL BENEVOLENT SOCIETY (COMPANY mITED BY GUARANTEE) ALSO KNOWN AS PERENNIAL TRUSTEES, ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
Gardeners. Royal Benevolent Society Trustee5' Report for the Year Ended 31 December 2024 08828584 CONTENTS Page Chairman's Foreword . Our Activitie5 Strategic Report: Achievements and Performance.............................................................................. 6-11 Financial Review. 12-15 Plans for Future Periods 16 Principal Risks and Uncertainties........ 17 Special Thanks.... 18 Structure, Governance and Management....................................................................... .... 19-20 Legal StatUS................. 21 Objects of the Charity. 21 Public Benefit.............. 21-22 Policies. 23-24 Statement of Trustees, Responsibilities. 25 Independent Auditorfs Report........................................... 2628 G roup Statement of Financial Activitie5. 29-30 Group Balance Sheet... 31 Charity Balance Sheet...................... 32 Group Statemeiit of Cash Flows.......... 33 Notes to the Financial Statements . . 34-47 Ollicers, Commillees and Advi5er5 of the Charity ..................................................................................... 48-49
Gardeners, Royal Benevolent society Trustees, Report for the Year Ended 31 December 2024 08828584 CHAIRMAN'S FOREWORD The demand for the serk'ices Perennial provides rewain5 underpinned by the ongoing cost of living crisis and pressures on statutory services, both in health and social care. Coupled with this. the announcement in the Chancellor's autum n statement that employers, Nl contributions would rise is likely to genera te f urthe r demand for the support the Charity provides. Nevertheless, against this background, Perennial remains well placed to contin ue to provide horlicullurists and their fam ilies with the vita I lielp a nd suppart that is needed. To ensure that the organisation remains fit for purpose now and equipped to deal with the challenges referenced, in 2024 the Board and Senior Leadership Team undertook 3 Strategy refresh, setting out Perennial's direction of travel for 2025 to 2029. During 2024, Perennial provided information. advice and support to 2,136 individuals and their familie5, a decrease of 40/0 compared to 2023. Further, we have witne55ed a decrease in the number of people ensasing with our Preve nt activitie5. In addition, in collaboration with the Social Innovation G roup at the University of Exeter, we conducted a Wellbeing Survey provid ing insight into the challenges facing the horticultura I comm unity. Th is will prove valuable in the development of new initiatives to support them. Our gardens are Perennial's shop window and the three existing gardens at York (iate near Leeds, Fuller5 Mill near Bury St Edmunds (which featured on BBC Gardeners World in October) and The Laskett near Hereford, experienced a busy year. Further, we continue to identify additional g3rdens across the UK to build on our existing portfolio. Financially in terms of our investments, we witnessed f urther recovery from the volatility seen in rece nt vears. Further, our balance sheet remains strong. and we are well placed to continue to support the horticultural community and theirfamilies while continuing to work toward5 our longer-term goals including expanding our reach and impact across the horticultural industry. I would like to thank Carole Baxter, Simon Goodenough, Maureen Hart and Emma Tinker. who all stepped down as Trustees in 2024. Their respective contributions to the charity over many years will be missed. It is with great sadness that I must report that Simon Goodenough passed away in February 2025. Simon was well respected across the horticultural sector and was a champion ol Perennial. Finally, it is a tradition for the Chairman of Perennial to use this reportto offer a heartfelt thank you to the many hundreds of people who give their time and theirtalents so generou51y and who make Perennial such a 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 aspect of our operations. A word of sincere gratitude must a150 go to the 26 people who left a gift to Perennial in their wills in 2024. Their generosity and thoughtf LJI ness is Breatly appreciated. Paul Rochford Chairman
Gardeners, Royal Benevolent Society Trustees, Report for the Year Ended 31 December 2024 08828584 OUR ACTIVITIES Help Services - Advice, Information and Support We build better futures for everyone who designs, builds, grows and maintains gardens and green spaces across the U K. We do this by provid ing free confidentia l advice. information, tools, training a nd reso u rce5. By working collaborative ly to create an 1ndustry-'1de ur)dersta nd ing of the cha Ilenges people face throughout their lives and the 501utions that niake a long-term difference. Services are designed to help people and their families experiencing crisis, unexpected or l ife changing events. Provid ing tailored support that delivers long-term sol utions that improve quality of life. Add re ssl ng challeng.e_s like housing, health, money, employment, training, benefits. family and relationship issues, as well as Signposting people to specialist services including legal advice. physiotherapy and relationship services. We aim to build the ski115, knowledge and behaviour5 people need for their future. With our welfare support providing short-term safety nets to enable people to access essential food, heating, travel, housing and travel costs. Our help and support services are available to everyone working in the horticultLJral industry. Our approach is based on prevention and early intervention- empowering people to make informed deci510ns- building resilience and delivering outcomes that make a real and lasting difference in people's lives. Working towards a collective vision where everyone is able to identify and meet their needs and those of their families. Our strategies focus on the four pillars of wellbeing= Health and wellbeing Financial wellbeing caree.r SLJC.C.C.SS Networks and relationships Our helpline service provides advice and information to people working across horticulture and their families. People contact us about health issues, employment, housing, training, money and debts, but we are happy to help with any issue people may be facing, however con)plicated. More complex issues are passed to our UK-wide C35ework, Money and Debt Advice tearns who help individuals find solutions where problems are difficult to navigate on their own, or where they need specialist support from our partners. Perennial is regulated by the Financial Conduct Authority IFCAI to provide debt advice and debt cou nsel I Ing 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 lives and help build long term financial resilience. All our Money and Debt Advisers are accredited money advisers and registered Debt Relief Order inlermediaries. Some individuals or groups find it difficult to take advantage of available services and opportunities. This could be, for example, because of a disability. language or financial constraints. During 2024 we began to develop our community outreach programmes. Our aim is to actively engage with horticultural communities, to build strong relationships, deliver services and empower the horticultural community to work collaboratively to address shared challenges. influencing what matters to them, and to take more control over their live5. uur ouireach and comm u nlry developmeni plans comblne acilvliles such as dellverlng InfuriTldtluii d IILJ advice events, creati ng volunteer opportunitie5, Sha ring advice and informatioii digitally, a nd form ing partnerships with other serwices and key stakeholders. We have continued to f ocus on delivering the impact that people in horticulture have identified build better futures a nd measuring the effecliveness of ou r interventions.
Gardeners, Royal Benevolent Society Trustees, Report for the Year Ended 31 December 2024 08828584 Preventative Activities Some of the most important servicesthat we provide help prevent critical needs developing. This include5 a range of activities managed by our prevention and development teams using holistic approaches that deliver meaningful cha nge in people lives. We understand that prevention activities and promoting wellbeing has the potential to reduce the demand for remedial and crisis seNices, as well as iinproving the outcomes of people who need our help. Our preventative work focusses on the four areas that we know through our research b LJ i Id better futures= Health and wellbeing (physical and emotionall- Financial wellbeinJ; Career success lemp loyment, training and skills),. Social networks and relationships. We aim to empower people to build greater health and financial literacy, and we can only achieve this by working collaborative ly with the industry educatin8, informing and iiifluencing people. To achieve o ur goals, we have undertaken a range of activitie5. All our work is underpinned by comprehensive research and working with those ivho have lived experience. In partnership with Exeter University, we embarked on our second Wellbeing survey and research project. To date over 1,4(K) across the horticultural indLJStry have shared their thoughts and experience5_ The research was published in May 2025_ Our financial wellbeing iK'ork ha5 continued to provide the tools and knowledge to everyone to feel able to pay their bills today. deal with unexpected costs and build a healthy financial future. To support our goals, we launched supporting campaigns such as Be Money Smart which along with our free money management tool, nudge, helps build financial knowledge and confidence. Across health and wellbeing, we are continuing to deliver health literacy programmes to address the kev hetalth issue5 of: Mental health and ¥vellbeing- Musculoskeletal health: Heart health. Providing Financial Help Our financial support programme5 are an essential part of the safety net Perennial provides for people unable to gain the help they need from Statutory services. We can provide one-off, or time limited, financia help for people entering our services. People may need our help after experiencing a bereavement, redundancy, life-changing diagnosis or another significant life event. We work with people to support their short-term needs, including meeting immediate needs of providing food and hearing. whilst working on longer-term solution5 to help ove.rcome the challerige5 tliey 4Jre experieiicing. Wc work with pe_ople accessing 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 housing, health, social care and legal advice. as well as providing employment support and training. We review government support they may be eligible for and support them to access benefits, needs assessments and other forms of support. We provide direct financia I help to ensure families receive 5hort-term 5UPPOrt whilst longer-term solution5 3 re put in place. For example, supporting transport costs for those experiencing hospital treatment, contributing to rent deposits for those experiencing homelessness or domestic abuse. Accommodation The Charity provides rented accommodation for people who have retired from horticulture in a small number ofself-contained bungalows.
Gardeners, Royal Benevolent society Trustees. Report for the Year Ended 31 December 2024 08828584 Gardens We own three gardens of national significance. The Laskett, at Much Birch near Hereford, was created by Sir Roy Strong and his late wife J ulia Trevelyan Oman a nd represents a highly pe rsonal, autobiogra ph i ca I garden design. It came into the ownership of Perennial in February 2021. York Gate near Leeds, a legacy from the Spencer family in 1994. is a leading example of late 20th century ga rderb design tollowing the arts a nd cralis siyIe_ Fullers Mill at West Stow, near Bury St Edmunds, 15 an enchanting seven-3cre woodland garden on the banks of the River La rk. Created by the late Bernard Tickner, 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 froni which the Charity is able to promote itself= Earden-loving visitors are attracted to the garden and leave knowing more about Perennial. These hub5 provide an opportunity to build a volunteer community and supporter network, to raise local awarene55, generate income and help the Charity to build better futures for people working in horticulture in the surrounding area and beyond. Our gardens are open to the public and are fully owned and cared for by Perennial. In addition, we have a pledged garden which, in due course. will become part of Perennial's portfolio and a nuniber of potenlial addiliDnal gardens. Marketing the Charity As an occupational charity, Perennial is dedicated to ensuring that everyone who works in. or who is retired from, horticulture is aware of the support we provide and feels confident reaching out to us for help when needed. Perennial's aim is that our message reaches all people and sector5 Wlthin the horticultural industry as well as the organisation5 and individuals who employ them. At the heart of our '0[k is our vision-. a world where everyone in horticulture is equipped to live healthv, happy and successf ul lives. Guided by our vision. we strive to build better futures for people in horticijlt u re and their families, empoivering them to overcome challenges and thrive both personally and professionally. Funding the Charity Perennial relies on legacies, donatlOn5 and fundraising activities forapproxitnately half of its income. This 15 supplemented by investment income from funds donated over many years to provide sustainable long-term benefits. Maintaining the value of our investments, and the income they generate, is an essential means of underpinning the Charity's continuing operations. The Charity also receive5 Other income from visitor5 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 a nd gardening-related iterns, as well as running cafés at our gardens, to generate f unds and raise its profile through its wholly owned tra ding subsidia ry, Peren n ia I Trading Ltd (previously known as G RBS (Enterprisesl Ltd). 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 principles contained in the Charity Governance Code. A small team of staff at Leatherhead provide support functions covering governance, finance, marketing, fiindraising and HR.
Gardeners, Royal Benevolent Society Trustees, Report for the Year Ended 31 December 2024 08828584 Delivery of Our Activities Other than our three aardens and our accommodation for people who have retired from horticulture, all of which are in Engla nd, Perennial provides its helpline, prevent, casework and debt advice services, incl uding providing financial assistance where necessary, across the United Kingdom, including Scotland, Wales and Northern Ireland.
Gardeners, Royal Benevolent Society Trustees, Report for the Year Ended 31 December 2024 08828584 STRATEGIC REPORT ACHIEVEMENTS AND PERFORMANCE The Charity measures its achievements and performance against its strategy which is described in more dela il an Pdge 16 (] nd ivi11 be continually update_d to rpflp.rt proEre.s5. Responding- Our Casework and Helpline Team Often people access our services to help manage a key life event, with 3 tenth of them experiencing a crisis or emergency situation, such as taking on caring responsibilities, being diagnosed with a life-changing illness or experiencing a bereavement. Often life events significantly impact on people's wellbeing and their household income. Durlng 2024, we provided advice, informaiion and support to 2,136 individuals and their farnilics12023'. 2,2211. In 2024, our helpline handled 1.657 contacts from people seeking advice and information12023: 1,7431. Over 44Yo of people found theirquestion could be answered directly by our helpline team. We also provided webinars and group inforn)ation sessions 10 759 people12023: 6391. Our services continue to provide help to incre%15ingly complex situalioiis. enabling people Lo cope witli life- changing events and providing access to statutory sources of support including access to a complex social care and benefits system. Following a review of our physiotherapy seNices, 29 people were referred. 87 people gained advice via 133 calls to the legal advice helpline, with 41Yo of people needing advice oii employment law, IOYO fainily law, 10/0 Wlth consumer concerns, 3Yo Wlth business and tax concerns and 7Yo of people needing help with wi115 and probate. Responding- Our Money and Debt Advice Service Our FCA regulated activity is undertaken by our team of qualified debt advisors who are IMA-accredited. The Money and Debt Advice Service helped a total of 318 irTrdividuals and their families during 202412023: 3701. In 2023, we_ implemente.d the Financial Conduct Authority ConsutTier Duty rules. During 2024, we tested, reviewed and monitored how Perennial provides good outconies for people accessing our services. This includes the results 3nd actions of monitoring and testing of Service user outcome5, focu5ins areas where issues have been identified and progress with remediating these areas. We have focused on.. l. The q ua litative a nd quantitative outputs of mon itoring and testing activity undertaken to assess whether£ood customer outcomes are being delivered under the four Consumer Duty outcomes and how Perennial promotes a service user led approach. 2. The actions taken by us to improve customer outcomes within appropriate timescales, depending on the severity of risk to the business and harms to its customers. 3. The governance and strategy of the business (both current and future) and whether they promote good customer outcome5. 4. The effectiveness of data management to ensure Perennial has adopted an appropriate and proportionate approach to data monitoring, collation and retention for its intended purpose, and production of data-d riven conclusions. The Money and Debt Advice Service successfully negotiated and agreed £185,87812023- E566,0711 of debt write-offs or successfully disputed debts for our service user5. This amount fluctuates each year, based on the nature and amount ot debt that people accessing the Service present with.
Gardeners, Royal Benevolent society Trustees. Report for the Year Ended 31 December 2024 08828584 Responding- Our Financial Assistance We understand that sometimes, unexpected or life-changing event5 can turn lives upside down. We also understand that everyone can experience financial difficulties or struggle to meet everyday living costs. Our help services support ind ividuals a nd families who have experienced unexpected and life-cha nging events, including homelessness, redundancy, bereavement or as a result of an accident. Our firidncia I support progr¢]mine5 are an essential part of the safety net Peie nnial provide5 for peo ple unable to gain the help they need. Our financial support programmes have been designed and developed in response to the needs of people working in horticulture. They reflect the needs of people living on a low income who need a l ittle add itional help to reduce their financial pressures a nd provide vita I suppo rt f or people coping with a crisis, unexpected or life-changing event. whilst we work towards long-term solutions and planning for the fufure. In addition to maximising income from Statutory sources. we provided acce55 to £13,88912023- £28,659) of direct help to people who are stru881in8 to meet the essential costs of food, heatin8 and clothing. Ive have conti nued to help those ivho have been recently d iagnosed with life-changi ng conditions, enabling t hem to travel for treatftient a nd vital hospital appointments, as well as supporting people to access physiothera pv, employment support and legal advice. Housirig arid the costs of housing Colltinijes to be_ o ne. of the key issiie.s far.i ng people across the indust ry. With rents continuing to rise and people tryin8 to manage higher mortgage rates, more people are fall ing behind with their housing costs. We provided £17,89412023'. £20,052) of support to people whose homes were at risk. Our Money and Debt Advice Teams provided £21,014 (2023.. £25,116) of debt relief to people accessing our services. Sometimes, people need ongoing financial support. We offer longer term support to people experiencing life-changing and unexpected events, whilst working to achieve sustainable outcomes. We provide access to specialist advice and i nformation including leEal advice, health and social needs assessments, home care, and bereavement support. We support individuals to access statutory benefits and services along with additiona150urces of f inaiicial and practical support. In 2024, we provided £137,67212023: £133,153} to support people access training and retraining initiatives including where it was no longer possible for people to continue working in horticulture, the main area of SLJpport being for four trainees who work at Perennial's own 8ardens. Responding - Our Prevent Activities Our influence, education and information through our preventative activities has grown exponentially over the last five years. with a key focus on learning, financial and health and wellbeing literacy. There has been a decrease in 2024 with 17,677 engagements with our prevent services and activitie512023'. 31,4041, reaching 10.917 people. We continue to develop our understanding of the char)ging and evolving challenges people working iii horticulture face, underta king research into the needs of those living and wo rking in Scotla nd. 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 ari_sing. whe.n they do, providing the skills, knowledge and tools to supporting people to ma nage cha Ilenges as efteclively as possible_ We have continued to deliver programmes and activities that respond to identified needs. The mental health first aiders pilot project trained just under 100 people who are now part of the mental health first aiders network facilitated by Perennial. We will continue to influence and inspire people across the industry to make mental health 3 key prioritv. To support our aim of building health literacy. our Wellbeing Platform and App has 947 people12023= 7491 regularly engaging with the platform and its content with 6,763 views (2023.. 7,4451 on our health and
Gardeners. Royal Benevolent Societv Trustees, Report for the Year Ended 31 December 2024 08828584 wellbeing information. There were 5.531 engagement5 Wlth our learning and development resource5 and a further 1,100 engagements with our general wellbeing and carers resources. Nudge, our free moiiey management tool, has provided informatioii aiid resources to 341 people12023'. 288). Running alongside this, we have delivered financial wellbeing Be Money Smart campaigns on everyday money tips and asking everyone to'do one thing today" to help look after their financial wellbeing. People across the industry engaged with this information13.556)12023: 7,1071 helping to build resilience drTrd better moiiey m¢anagetT)ent. Responding- Our Accommodation The Charity manages a small portfolio of retirement accommodation comprising seven bungalows.. six in Cambridgeshire and one in Hampshire. Where help Ivith third party accommodation is necessary, Perennial provides advice and support to find a safe home that meets individual need5 and can provide financial help toward5 rent deposits, moving and insurance costs. Responding- Our Gardens In line with many other outdoor-based visitor attractions the weather and a number of storms did not work in our favour in 2024. Overall visitation was down across the gardens but there are positives with growth in retail, cafe and plant sale5. There 15 also growth in membership sales at each of the gardens, demonstrating a growing love of vislting the gardens, the benefits of which will be experienced for years to come. York Gate The Spencer family garden at York Gate has been in the care and ownership of Perennial since 1994. Visitor numbers fell by 12Yo to 20,497 {2023= 23.3211. This was primarily due to inclement weather. Retail sales fell by 7Y., however the cafe performed well with income growth of Iyo. Membership sales grew by 16Y. bringing in valuable income to York Gate. The garden is extremely popular among new and returning visitors and the staff team is supported by some 180 volunteers 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 Bernard Ticknerfs unique garden, which he eiitrusted to Us on his death in 2017, as a destination of impo rtance, beauty and tranquill ity for garden lover5, in li ne with his wishes. In 2024, the garden had a total of 8.817 visitors12023.. 11.8391. The decline in visitors was due to both weather and infrastructure issues. A 15/0 growth in membership sales and Gift Aid recovery compensated for the lower admission5 income. Café and retail sales were lower. in line with the1055 of visitors, but pla nt sales remained level with last year. Total revenue fell by 5Y.. The project to improve the visitor facilities at the garden is currently being reviewed 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, Herefordshire Th• Lask.9tt fJardgn, cr9atgd by Sir Roy Stron8 and his1at9 wif9, Julia Trgv4lyan nman is a vgry iv911 knn[vn, highly personal garden and Perennial is honoured that Sir Roy chose us to be its custodian. In early 2020, Sir Roy decided to transfer the house and gardens to Perennial as a living gift and The Laskett came into the care and ownership of Perennial in February 2021. The Laskett visitor busi nes5 is growing slowly and achieved 2,947 visitors in 202412023.. 2,3391. The re ha5 been growth in admi55ions income and membership sales. though less than expected. Cafe sales almost doubled on 2023 and plant sales saw 243Yo groivih on lasr year. Retail shop sale5 grew by 22Yo on 2023.
Gardeners, Royal Benevolent Society Trustees, Report for the Year Ended 31 December 2024 08828584 Work is in hand to establish the necessary plan for the garden's long-term management and development to ensure that it continues as a garden of national sigiiificance and quality with suitable visitor amenities, while also becoming a hub for Perennial's setvices to people in horticulture in the surrounding area. Key to this will be the building of the team of staff and iiolunteers. We now have 26 volunteers who bring much knowledge and enthusiasm to the task of conserving and developing this special garden. Future Perennial Gardens Graham Robe50n and Alan Gray have pledged their onderfUl Norfolk gai-den, East Ruston Old Vicarage, to Perennial. Graham and Alan have spent 50 year5 creating the 32-acre garden from Scratch and feel that the time is right to secure its f uture by bequeathing it to Perennial. Increasing Reach Through Our Gardens Ou r ga rdens play a vita I role in raising awareness of Perennial. They attract thousa nds of vi51tors who, while captivated by the beauty of the gardens, are also keen to learn more about how Perennial supports people In hortlculture. The ga rdens galn signlflcanT arteniion from ihe gardenlng press, leacllng ro regular fearures in publications, online platforms, and on television. In 2024. Fullers Mill was featured on BBC'S Gardeners, World, following York Gate's feature in three episodes the previous year. In addition, the gardens have a strong social media following. with thousands of people engaging with and sharing content. Thi5 widespread exposure helps to amplity our message qind liighlights the importdnt work we do for those in horticulture. The gardens also Serve as prime locations for photography and filming, further extending our reach and visibility. Engaging with the Horticultural Sector We aim to connect with everyone working in or retired from horticuifure. as well as those who value the dedication and expert15e behind maintaining the UK'S gardens. sports grounds, and Ereen spaces. Perennial is a small team supporting a large and diverse industry with hundreds of thousands of individiials. The horticultural Sector is broad. encotnpassing numerous specialised areas that often operate independently of one another. This diversity means we tailor our communications to engage with each group effectively. For the benefit of everyone who could gain from Perennial's 5UPPQrt, we must remain at the heart of the sector, workinE to iinite it and raise awareness. Together, we can ensure that Perennial's message reaclies all those in need, empowering them to access the help they deserve. Trade associations a nd businesses play a critical role in raising awareness for Perennial, ensuring their members and employees know they can access advice and support throughout their lives. Sharing Perennial's message is invaluable, but actively 5UPPOrting the charity through volunteering and fund ra isi ng initiative5 fosters a sense of belonging and connection with Perent7ial. Thi5 connection can also encourage individuals to feel more confident about reaching out for help in the future. In 2024, the number of companies joining as Perennial Partners grew by 22D/o, reaching a total of 19612023.. 1611. Additionally, many trade shows generously supported Perennial by offering free exhibition space and promoting the Charity to their audiences. These efforts have greatly expanded our reach within the hurticullural community, helping LJS connec.t with e.ven more. people. Bolh our services and corporc]te teams must continue to ivork closely together to provide better 5UPPOrt. enabling us to not only deliver our 3ervice3 but to grow our nctworli of partncrJ in 2025. ThiJ colloborativc approach will holp drivo sustainable growth, improve our impact, and create135ting value for everyone we support. Building on the foundations la id in 2024, we will continue to realign our focus to be more visible to the horticultural industry. Plants for Perennial rema i ns a standout initiative for the cha rity. In 2024. working with four major wholesale nurseries- Allensmore Nurserie5. Bransford Webbs Plant Company, Wyevale Nurseries. and
Gardeners, Royal Benevolent Society Trustees, Report for the Year Ended 31 December 2024 08828584 New Leat Plants, it raised £12,57112023= 16,4431. This successful acliviiy continues inlo 2025. Plant5 for Perennial is a fantastic example of businesses across the industry coming together to support a fundraising initiative that underpins the vital work we do. By offering cloakroom and plant crèche services at the Harrogate Flower Shows, RHS Chelsea Flower Show, and RHS Hampton Court Garden Festival, we successfully raised over £20,OCM). These services also provided an excellent opportunity to engage with garden-loving audiences and share information about our work, further raising awareness. For 2025, we will offer cloakroom services and provide a pop-up informatioii and advice kiosk Iwithin the exhibitor café) at the RHS Chelsea Flower Show. Perennial Website The new Perennial website {launched in April 2024) represents a significant improvement, reflecting a substantial step forward in our online presence. This development underscores our commitment to investing in future groivth opportunities and amplifying our d igital footprint. The website is a critica l a55et to improve engagement levels, increase awarene55 through Search Engine Opti nii5ation ISEOI activity, a rid become a valuable resource. The new site improves LJPOn: Enhanced flow and navigation to improve user experience and provide clear 5ignposting,' Easy to Use for people with low levels of digital expertise- Adaptive design for improved mobile browsinE.' Increased engaged traffic/site visitors- Development of key landing pages for enhanced SEO,. Implementation of a robust SEO strateEY- Establishment of a content strategy and enhanced storytelling. The online world rerN a in5 a crucial platlorm for connecting with pote.ntial service users and supporters across all generations, as both younger and older audiences are becoming more digitally active. Social Media Our social media presence continues to grow, with a IOYO irlcrease in followers, now exceeding 66,000 across all platforms. E iigagement has risen sigiiifica ntly. and our supporters a re actively sharing posts with their networks to help spread the word. Emall 5ubscrlPtions E-news subscriptions have also grown by IO%, with our regular emails now reaching over 18,000 people. Impressively, around 40Q/o of recipients open these emails consistently, which is above average for cha rity email marketing. Additionally, we conducted an e-ne¥vs de-duplication process to remove redundant contacts. further iimpruvi rig engi]gement arid effeitiveness. Database Our database of supporters continues to grow and is now currently lo7,0, of which 14,000 receive a printed copy'Perennial News, twice a year, which includes information about the impact we are having on people's lives a nd the fun to be had joining in with fund ra ising activities. Perennial Branded Products Oui LJidiidvLi yiuJuLI5 Luiiliiiug Lu illLIVd5e dWdl¥lle55, wiLlI uui eAyaiidiiig aiid evei'"Pupulai' youveiiii. range playing a supporti ng role. Perennial-branded Christmas ca rds reinain an important product fo r ra isi ng awareness, complemented by our everyday card range, available year-round. Meanwhile, our 'Beautiful Ga rdens, calendars and d iaries are stocked by high street retailers. ensuring broad reach a nd accessi b i lity.
Gardeners, Royal Benevolent Society Trustees, Report for the Year Ended 31 December 2024 08828584 Wellbeing Survey Perennial, in pa rtnersh ip kvlth University of Exeter, cond ucted a wellbeing survey in 2024. with the init ial results announced at an event held at the Royal Sotanic Gardens, Kew. The survey examined the daily lives of those working in horticulture {both at work and outside of it) to better understand the pressures and challenges they face. It went be.yond health and wellbeing, covering tOPlC5 such a5 finance5. careers a nd training, socia I connected ness, and lifestyle. The full findings and results will be published in 2025 and will provide valuable insights to help shape the Charity's direction and the services we offer, while a Iso serving as a snapshot of the wellbeing of the horticulture industry. Delivering Today, Tomorrow and Always Our help seNices work with people facing some of today's most complex challenges that can often seem overwhelming and whose effects can be long-lasting. Every day we see the very real and devastating effect of adverse life events which impact people's futures. Our teams work efficiently to deliver immediate crisis support to provide a vita I short-te_rm safety net, whilst we explore and implement longer term solutions. Longer term 501utloll5 Can prevent problem5 becoming more complex, a crisis from deepening or problems becoming entrenched. By delivering help early, we can improve an individual's and their family'5 Outcomes across employment, education, safetv, housing, relationships, health and wellbeing, leading to better future prospects. Often this req uires lo ng- term support. The Trustees believe it 15 important to hold sufficient inve5tment5 to provide the Charity with the fi na ncia I strength and resilience to survive today's economic u ncertainties in order to support people in horticulture today, tomorrow and always.
Gardeners. Royal Benevolent Society Trustee5' Report for the Year Ended 31 December 2024 08828584 FINANCIAL REVIEW Operating Results The financial statements show an operating deficit of £1,221,01012023: £1,382,919), but after investment gains of £5,OIS,23112023.. £2,268,963), funds increased over the year by £3,797,22112023: £886,0441. Various lactors complicate the comparison of operating result5 frorn 2024 to 2023 though.. l. In 2023. the operating deficit included a one-off £242,707 donation as the HTA transferred their Benevolent Fund to Perennial,. In 2023, we recognised a £450,000 impairment in the carrying value of Attleborough Lodge,. In 2023, investment income included a bonus receipt of £lOO,000: 4. In 2024, Attleborough Lodge and another propety were sold, resulting in a total net gain of £321,261. If Ihese four faciors ivere excluded, the underlylng deflcli for 2024 was £1,542,271 compared 10 a deflclt of £1,275,626 in 2023. The increase in the deficit primarily arises due to decreases in legacy income a nd investment income. Income Perennial's three main sources of income are from investment5. legacies and donations and fundraising. Investment Income The Charity's investment objective is to generate an income to supplement legacies, donations and other fundraising income and to achieve long-term capital growth above inflation. Investment income is a core component of our funding. but it only covers about a fifth of current expenditure. Net investment income after management fees decreased by 29Yo, although 7 percentage points of that decrease relates to the one-off £IOO,000 receipt in 2023 from our property fund (referred to above). The balance relates to a fall in yields dLJe to underlying i nvestments shifting away from the UK to geograph ic sectors that pay lower dividends, but which have greater potential for capital growth. As referred to earlier, investment gains in 2024 remained strong, building on the gains of the previou5 year. Legacy Income Over the medium-to-long-term. legacies are a vital source of income. Our ten-year-average legacy income remains around £lm but, as a proportion of operating costs, it reduces as the Charity's scope of activities increases. Significant rece i pts in one year can also d istort year-on-year compa ri50ns. We deeply appreciate all legacy gifts. Larger legacies. especially, enable us to create a more lasting im pact for people in horticulture. Donations and Fundraising Income Our ability to generate sufficient, sustainable. and growing voluntary income is essential to expand ing our services, extending our reach, and ultimately supporting more people in need. We have always provided information, advice, and SLJpport to everyone who turn5 to us. but as awarene55 increases, 50 doe5 demaiid for our seNices. Ultimately, this will present new chal lenses. The generous donations from the National Garden Scheme and Scotland's Garden Scheme are important components of our income. Both donations directly support our Debt Advice and Casework Team as shown by allocating them to the Gardeners, Royal Benevolent group of designated funds (see Note 5 on page 371. ExcludirTrg one-off item5 in 2024 and 2023, underlying donations incorne increased by 5Yo. All forms of regular giving provide important, relatively stable sources of income.. 12-
Gardeners, Royal Benevolent Society Trustees, Report for the Year Ended 31 December 2024 08828584 Our Perenriial Partriei iurporate suppurler scheme is an importdnl iiicome 5trearTi which generated £115,18312023'. £111,942), an increase of 3;. OLJr Partners recognise the benefits of workind together and help us to promote Perennial to their employees. The Friends of Perennial membership scheme raised £129,301 {2023.' £93,442), an impressive increase of 38Yo demonstrati ng its popularitv. The Fellowship programme, for individual sUPPOrters who make significant annual donation5, increased by 17%, raising £55,80012023.' £47,709). Our Special Events programme generated a contribution of £29,964 {2022= £27,962). The programme has been reviewed and will be relaunched in 2025 as"Exclusive Garden Tours" The new Dig Deep Fundraising Lunch in October was a great success, raising £22,308. Trading Results The trading subsidiary made a profit of £37,041 {2023= £44,767). The 5ub5idiary generates a profit through trading activities at our three gardens as well as by online and mail order sales. Total catering income increased slightly to £413,20412023= £409,478). The café at York Gate is open five days each week for most of the year even though the garden itself is closed during the winter. Income generated from the gardens, shops decreased by 7Yo to £87.29112023= £93,457). Mail order aiid online sales increased by 7Yo to £53,249 {2023= £49,861). Income from plant sales increased by 4% to £89,45312023'. £85,746). Our team ofvolunteers Kvork hard to fulfil orders, manage stock and look after customers. Their support is c.ritlCiil in minimising the costs of our Irading aclivitv. Perennial received £13,983 {2023: £17.6091 of donations included with customers, orders plus corporate donations of £26912023= £1,990) as a result of trading relationships with Perennial Trading Ltd. The Charity also benefits in other less tangible ways such as the ma rketing va lue generated by our online shop, sa les leaflets, the Christmas catalogue and our branded greetings cards, helping to grow public awareness which is importa nt for future donations and legacies. Gardens Our gardens attract thousands of paying visitors each year, many of whom become Friends of PereNiiial and long-term supporters of the Charity. as well as providing the trading revenue described above. Admissions income grew slightly to £148,163 (2023= £146,755), mainly due to entrance fees having been raised in 2024 at Fullers M ill and York Gate gar(lens. This was offsel by 149. fewer visltor numbers in tDt31. Perennial recognises that although the garden5 are a n im portant Shop window, it is essential that fina ncia I performance is substantially improved. The recruitment of a Gardens & Commercial Development Director and targeted investment should improve performance over the next few years. Expenditure Charitable Expenditure Excl uding Ir3dinE SLibSld iary èxpondirure, over of rho Lhariry'g expendlrti re Ig aimed 31 pfovidl ng practical, emotional and financial supportto our service users. This includes the cost of providing our services, the financial assistance given to service users a nd our retirement acco m modation. The. cost of running. the advic.c and casework leams increased by 6/0 to f1,764.00212023'. £1.671,6141, mainly as a result of fil l iiig roles that had been vacant in the previous year.
Gardeners, Royal Benevolent Society Trustees, Report for the Year Ended 31 December 2024 08828584 Expenditure on grants and benefits decreased by 13¥0 to E396,10912023= E452.8331 due to lower demand from 4% fewer service users. Providing financial a5515ta nce to people in crisi5, helping with essentia l items such as food and heating, will always be part of our toolkit and is driven eiitirely 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 problems from arising in the longer term. We provide access to support for mental health problems. muscular skeletal di50rders and employment iSSLJes. Over 150/0 of the Charity's expendilure 15 Spent raising awa rene55 of Pereiiiiial and making potential se rvice users aware of how we might help them. Marketing costs decreased to £743,337 {2023: £902,226) due to refocussing activities in 2024, using fewer external contractors and not repeating some activities from 2023, such as not having a trade stand at RHS Chelsea Flower Show in 2024. Just under 24Yo of the Charity's expenditure is spent on running and maintaining the gardens. Staff costs directly associated with plant sale5 and caterin8 are recha rsed to the tradins subsidiary. I n total, 84Yo of the Cha rity's expenditure 15 spent on its charitable purposes. The rema ining 160A is spent on fundraising IIIYts) and investment management fees15Y.I. Position The Charity remained in a robust financial position as it moved into 2025 and continues to be well placed to tackle the challenges ahead, thanks to the level of resilience provided by our reserves, underpinned by our investments. Operating cash flow has been carefully managed throughout the year. E700,000 wa5 Wlthdrawn from our investments to maintain liquidity. Acce55 to cash at short notice from investments 15 readily available 35 and when it becomes necessary. Reserves As Stated in the Reserves Policy, the Trustees aim to hold free reserves of between £4.4m and £5.4m (free reserves exclude restricted and designated funds and the net book value of all assets held for operation31 PLArpose.s, i nc.luding the_ Le_athe. rhe.ad Office and ou r gardens). Of the £70.6m shown as Total Funds in the Balance Sheet as at 31 Decernber 2024. the Charity holds £5.2in as free reserves. General Designated Restricted Funds Funds Funds 2024 Total 2023 Total £m Balance Sheet value Less: Fixed Assets jLJi',& & Duildings, IT, etcj Working Capital irush ot b(Jnk only) 62.9 {4.4) 70.6 {5.21 66.8 15.51 {0.81 58.5 65.0 60.7 Garde.ners' Royal Benevolent Funds Gardens Punds Lironi Training Fund Children's Fund 147.51 18_41 12.61 147.51 18_41 12.61 144.01 18.21 12.81 Free Reserves Free reserves a re withi n the ta rget raiige. The Trustees anticipate that the Cha rity may need to draw on its reserve5 in 2025 by lip to £2m. The. level of free reserves is expected to remain within the target range over the next two to three years.
Gardeners. Royal Benevolent Society Trustees, Report for the Year Ended 31 December 2024 08828584 Both Fullers Mill and The Laskett will require some investment to fulfil their potential, although the va rious options still need to be co nsidered and evaluated. Funding 15 already held in designated funds. Tlie Trustees, reserves policy 15 described in more detail on P¢]Ees 23-24. 15-
Gardener5' Royal Benevolent Society Trustees, Report for the Year Ended 31 December 2024 08828584 PLANS FOR FUTURE PERIODS In 2025, our aim is to expand our reach through continuing our shift in focu5 to become the charity of the horticultural industry and to review our services model to increase our impact. Impact of Cost of Living We will continue to maintain an unswerving focus on people who need our services, meeting the need5 of individuals and families as they arise. We stand readyto provide the help that 15 required, whether in the form of support and advice or financial assistance. Perennial has sufficient financial strength {as at l June 2025, the value of investments was £61ml to cover annual operating expenditure of circa £5-6m for the foreseeable future and remain able to meet its debts as they f<ill due throughout this period. Due to pressure on iriconie and a likely increase in deinand from service users, the Trustees will utilise LIP to £2m of reseNes in 2025 in order to maintain services at current levels. Cash will be drawn down from investments to support working capital. Our Vision A world where everyone within horticulture is equipped to live healthy, happy and successful lives. Our Mission To build better futures fo r people in horticulture and their fam ilies. Our Values Respect We respect the voice of individuals. value their unique experiences and perspectives, and foster a culture of dignity, Ljndersta nding a nd compassion. Ambition We seek to continuously improve and innovate our Services to better support the horticultural community. Inclusion We foster an inclusive environment where everyone in the horticulture industry is welcomed. Collaboration We work with people, partners, and communities, providing sUPPOrt and services. Trust We build trust through tra nsparency and integritv. Our Strategy During 2024 we undertook a strategy refresh. We believe in delivering impact and ensuring that horticulturists a re at the centre of all we do and aligned to this our 5 key strategic objectives are= Building better futures Expanding our reach and engagement Building long te.rm financial suslainability Gardens developnient Become a d3ta informed organisation
Gardeners, Royal Benevolent Societv Trustees, Report for the Year Ended 31 December 2024 08828584 PRINCIPAL R15KS AND UNCERTAINTIES Perennial has a relatively low and stable risk profile, with risks that typically ca n only be managed rathe r than eliminated. Risk Mitigation Financial impact of an unexpected and prolonged shortfall in income. possibly as a result of a global pandemic or other shock to the world economy caused by a geopolitica l event outside of our control. Regula r review of fund ra i5ing strategy- mainta i n a high level of reserves i n designated funds to provide a reliable core component of investmerit income and a cash cushion. Regular review of cash position. cash flow forecasts and other financial data_ Financia l im pact of significant inve5tment1055es. possibly as a result of é 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 ac ross and within portfolios in line with investment policy. Half-yearly performance reviews with investment managers" monitor quarterly performance against objective5 and benchmarks. Failure to provide the necessary level of service or financial support, as a result of unexpected rises in demand for our serNices from new and/or existing clients. Regular reviews of operational statistics and other management information to monitor workloads,. maintain adequate level of resourcing within De bt Advice and Casework teams. Failure to provide the necessary level ol service or fi na ncia I support, a5 a resu It of unforeseen changes in regulation or unexpected105s of a key member of staff. Regular monitoring of regulatory landscape,. regular staff training to ensure continui ng fitnes5 to practice. Regular knowledge-sharing by management team; maintain up-to-date policies and procedures. Reputational damage and/or finallcial impact as a result of a major IT incident (e.g. security breach. data loss. catastrophic ha rdwa re failure} leading to fines, claims for damages, costs to reinstate data. etc. Ensure that security procedures are up-to-date and adhered to. disaster recovery procedure5 are reviewed and tested regularly.
Gardeners. Royal Benevolent Society Trustees, Report for the Year Ended 31 December 2024 08828584 SPECIAL THANKS The work of Perennial would not be possible without the help of many orgallisations and individuals. We a ppreciate all donat ions, especially regular contributions that help us to pla n with more confidence. Many ofour stjpporters have made significant donations over many years, demonstrating their faith in the im portant se.rvic.e that Pe re. n n ial provides A special mention must go to the National Garden Scheme INGSI kvhich has donated to Perennial Since 1986. The NGS and Perennial share a deep commitment to promoting the health and we15being benefits of gardens and the dedicated individuals who create and maintain these beautiful spaces. Through their generous support, we focus on the physical and mental health of those designing, building, growing, and maintaining green spaces across England and Wales It allows us to develop and deliver preven13tive services, awarene55 cam paigns, and practical too15 that raise awa rene55 of key health ind icators a nd e a rly wa rning signs. It supports ind ividuals in managing existing hea Ith conditior15 effectively and helps ad d ress health inequalities within the horticultural community. Together, we aim to create a healthier, more resilient workforce and ensure the long-term wellbeing for those who care for and cultivate our green spaces. We also acknowledge with thanks the generous donations in 2024 from Scotland s Gardens Scheme and our Fellow5. Volunteers continue to underpin the work undertaken by members of staff. They take part in a vast range of activities in our gardens and at many different events. We thank them all for their support, we simply could not achieve all that ¥ve do without them. Ourgrowing number of Perennial Partners and corporate supporters continue to help us reach a sionificant number of people each year and encourage them to engage with the Charity 50 that they feel part of the Perennial family. On behalf of our service users, we hereby extend our thanks to all those who support Perennial through legacies and donations, buying goods, attending our specia l events and/or vol LJ nteering in various ways. Legacies Legacies are an important source of income to Pereniiial- 27 iiew beqiiests were received in 2024 from the legators listed below12023'. 321. We are mindful of the sad circumstances of such gifts and extend our condolences to those bereaved. We are deeply grateful for these donations which are vita I to our continuing ability to ma ke real, lasting differences to Lhe lives of the people thal we support. We sincerely thank the following people who have remembered Perennial in their wills= Ruth Arnold John Ashdown Amy Bignv John Birks Vtalerie Evershed Margaret Field Dern8rd foreman Mary Gill Audrey Glenn Nancy Haine Janet Harding Jo(In Hardy Rosemary Humphries riom8 1(e118W8y Pa u l Kettleboi'ough Ann Orr-Ewing Mr L Pemberton David Sayles John Stephens Joan Streeter June Thornton Diane Timney lan Tovey Varlien Vyner-Brooks Victoria n Wardle li7abeth Wi Icox Jer)nifer Woolveridge
Gardeners, Royal Benevolent Society Trustees, Report for the Year Ended 31 December 2024 08828584 STRUCTURE, GOVERNANCE AND MANAGEMENT Name and Registered Office The Gardeners, Royal 8enevolent Society uses the trading name Perennial alongside its formal legal name. The Charity has its registered office at 115-117 Kingston Road. Leatherhead, Surrey, KT22 75U. Memorandum and Articles of Association With effect from l January 2014, following its conversion to a company limited by guarantee. the Charity adopted its MemorandLJm and Articles of Association, which control the way the Charity is organised. Thev were updated in September 2020. Board of Trustees The members of the Board of Trustees, who were the company's directors during the year or on the date of approval of this report, are shown on page 48. They receive no remuneration. Members of the Board serve for a four-year term, extendable to a consecutive second term but thereafter ineligible to sta nd aga i n unless the Board agrees Ihat in exceptional cirr.unista nces, a Trustee may be elected for a maximum of four more years. Trustee5 are elected by members 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 2024. Recruitment and Training of Trustees The Charity aims to have a balance of expertise on the Board. to include professional backgrounds outside horticulture, which brings a range of experience and provides a valuable broad perspective. Recruitment of new TrLJStees is the responsibility of a Nominations Committee, consisting of the Chairman, Vice Chairman, Honorary Treasurer, the Chairmen of the Policy and Services and Marketing and Fundraising Cornmitlees and any otherTrustee invited by the Chairman with the agreement of the members, togp.thp.r with the Chief Executive. Without instituting any formal rules or quota systems, the following criteria are important in the search for new Trustees.. To reflect the d iversity of the industry and professional occupations in horticultLrre,' A balance of skills, knowledge and experience- A balance of people from different part5 of the United Kingdom. The Charity has an induction programme and a Trustee Handbook. provided to all Trustee5, and actively encourages Trustees to undertake f urther learning a nd tra ini ng to better eqii i p them for their duties. Changes to the Board We welcomed Susan Burgess, Richard Capewell. Lilidh Matthews. James Sinclair laylor and Neville Stein to the Board since the last report. Carole Baxter. Simon Goodenough. Maureeii Hart and Emma Tinker retired from the Board duriiig tho ye,Ar. Committees of the Board Tlie Board may a ppoint Co iiirTI iltee5 Witli specific expertise ¢1 rid rnay delegale a ny of it_s powe.rs to these Conirn iltees. The mem bL';5 of the PLJfni(Iiieiil Conim itlL'es L"Stabli51ied by tIiL' Roard lire. -shown ap. p.
Gardeners, Royal Benevolent Society Trustee5' Report for the Year Ended 31 December 2024 08828584 The Boa rd is able to de legate detailed functions to its Com mittees and harne55 the expert15e of Trustees in supporting the organisation in a time effective Ivay in their area5 of special kllowledge and interest. The Committee5 Cotnprise.. Marketing and Fundraising Committee: responsible for supporting and overseeing the Charity's marketing and fundraising activities. Nominations Committee: re.sponsible for the recotnmendatioll of appointnient of trustees, Senior staff aiid members of the Charity., also, to review the Board's membership, functioning and effectiveness. Policy and Services Committee: responsible for overseeing the delivery of the Charity's services. Resources Committee: responsible for overseeing the effective utilisation and protection of the Charity's resources and for overseeing the management of risk.
Gardeners, Royal Benevolent Society Trustees, Report for the Year Ended 31 December 2024 08828584 LEGAL STATUS The Gardeners, Royal Benevolent Society, also knoivn as Perennial, was fouiided in 1839. The Charity became a company limited by guarantee on l January 2014, previously having been an Industrial and Provident Society with exempt charita ble status. The_ Gdrdeners, Royal Benevolent Sociely 15 registered as a company in Ingland £]nd Wales. nijmber 8828584, and is a registered charity, number 1155156. It is also registered with the Off ice of the Scottish Charity Regulator, number SC040180. Perennial's Debt Advice service is authorised and regulated by the Financial Conduct Authority. OBJECTS OF THE CHARITY The Objects of the Charity were reviewed and updaied in 2013 due to the change in legal status, although there were no changes in substance from those already in place. The Objects set out in the Memorandum of Association implemented on l January 2014 are as follows- 11 Tlie relie.f ic nd assistance by SLJch means as Ihe Truste_e_-5 shall de.termine to be ¢Jppropriate in e.IlC.h case of gardener5 or persons who are or have been in like employment or occupation or those closely involved in gardening or related activities or th05e training to be gardeners or persons of like occupation and their spouses or widows/widoiver5 or unmarried partners and/or immediate dependants in necessitous circumstances 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 gardening,. and/or 31 The provision, maintenance or assistance in thE provision and maintenance of gardens and open Space for training, rehabilitation and other charitable purposes for public benefit, and in particular the preservation and maintenance of gardens of historic and/or 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 England and Wales as tlie Trustees in their a bsolute discretion from time to ti me determine. Since the Charity's ince ption i n 1839, activities aimed at achieving the first objective have formed the rmajor part of our work. We ivill continue to provide assistance where it is required. but we aim lo put more eff ort into preventing the need for assistance where we can do so effectively. PUBLIC BENEFIT The Cha rity provides advice and support to people of all ages from all horticu Itu ral trades in the UK, incliiding employed and self-employed gardeners. those runninE horticultural businesses, nursery and gaiden centre sla If, grounds staft. la ndscapers. Ereenkeepers, arborir.ultijrists, fn re.ste. rs and people working in parks, ga rdens and large estates. It is estimated that there are at least 900,000 people who are pIiEihlp fnr niir siippnrt as a rp5111t nf snmpnnp having wnrkpd in, nr rptirpd frnm, this indii£trv. Perennial's mission is to'Build better futures for people in horticulture and their families, The charity does this by supporting those ivho need help and providing access to training and tools to build people resilience and prevent them getting into crisis. Perennial hel ps those struggling with life-changing challenges such as bereavement, illness. injury and redundancy, along with other proble5ns people experience. It provides advice and support to individuals,
Gardeners, Royal Benevolent society Trustees, Report for the Year Ended 31 December 2024 08828584 helping Lhcm <icce55 goverriment supporl and benefits. helping to rnan<Jge debt where necessary dr)d providing financial assistance to cover essential iteffl5, particularly 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, providing information on how to effectively manage money- access to a mental health support network,. and access to physical well-being check-ups at trade shows around the UK. Perennial's gardens are an important part of Perennial'5 Strategy to reach more people. Acting as a local hub, York Gate near Leeds, FLJllers Mill near Bury St Edmunds, and The Laskett near Hereford are open to the public, with visitors a rriving to enjoy these uniq ue garden5 but leaving having learned of the Services Perennia I provides. They a Iso play an important part i n their communities, providing volunteering opportunities and a place for people to meet. The Trustees, policies seek to prevent any private be nefit or ha rm arising from the Charity's activities. Full detai15 of the benefit provided by Ihe Charity over the past yea r are set out ill the preceding sections of th 15 report. The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due rega rd to the public benefit guidance published by the Cha rity Commissio n in determining the activities undertaken by the Charity.
Gardeners, Royal Benevolent Society Trustees. Report for the Year Ended 31 December 2024 08828584 POLICIES Fundraising The Board takes pride in its commitment to fundraising in line with the Fundraising Regulator's Code of Fundraising Practice, ensuring that all fundraising is conducted in a way that is open, honest, fair, and tr()fi5Pci rent. Peren nial manage5 all its f undraising activities in-house, without external professional fundraisers. The Board respects the rights of supporters to receive 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 requests to cease contact and deal with complaints, acting as best we can to address the ca Ljses. Throughout 2024, we are pleased to report that we did not receive any fundraising complaints, reflecting our commitment to maintaining high standards and posltive relationships with our supporter5. Risk Management The_ Board has delegated responsibility for monitoring risk to its perm¢inp.nt Committees. The Senior Leadership Team regularly reviews all financial, operational. regulatory and repLltational risk5 in depth. Each permanent Committee then reviews the risks relevant to it. Risks are 35sessed on the ba515 of their likelihood and potential impact, having taken current mitigation plans into account. The Board review5 the highest-rated risks at each of its meetings. Reserves The Board believes that Perennial's services will be needed indefinitely. Ever since the Charity's inception, it has consistently pursued long-term strategies to ensure that it is able to contin ue to support current a nd future service users. We are committed to giving our service users the support that they need, for as long as it is needed. Our reserves reflect this long-term commitment. We. are always grateful to our supporters who generously donate to us. but the inherent volatility in income from legacie5 and donations rnean5 that we do not always receive enough to cover our beneficiarie5' needs and our own runniiig costs. Income from legacie5 and donations may flLlCtuafe for many reasons which are usually out of our control. Therefore, it is the Trustees, policy to retain sufficient reserves to achieve the fol lowing objectives: ge.nerate investment income to supplement the income from donations 3nd legacies that is used to provide essential 5UPPOrt to our beneficiarie5 every day of the year- mitigate the short-term effects of income volatility and unexpected increa5e5 in expenditure- provide an adequate level of operational resilience against the other risks and unforeseen events that face the Charity i n the course of its business (these have a low likelihood of occurring but, if they d id, would have a significant impact on Perenniall; provide the Charity with the strength to meet its commitment to our beneficiaries, both now and in the futijre.. The policy focuses on the level of "free reserves, i.e. those funds which are freely available to be spent. Free resee5 therefore exclLJde all restricted and designated funds, as well as the net book va lue of f ixed assets held for operational purposes, including the land and buildings of the Leatherhead office and our gardens. The value of investments inevitably fluctuates Wlth market indices, so the target reserves requirenient is expressed as a range.
Gardener5' Royal Benevolent Society Tru5tee5' Report for the Year Ended 31 December 2024 08828584 The Tru5tee5 Consider that to operate effectively and meet the objective5 described above, based on theii- assessment of the financial impact of current risk5, the Charity should aiin to hold free reserves of between £4.4m to £5.4m. This 15 the equivalent of approximately one year's future operating expenditure. The reserves policy is formally reviewed at least every two years, unless changes in circumstances or the operating environment require a more frequent review. It was last updated in June 2024. The reserves are monitored regularly throughout Ihe 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. moniloring their performance and for appointing and reviewing the inve5trnent rnanagers. The Trustees, approach to ethical and socially re5pDn5ible investment 15 to- invest in compa nies that have clearly defined, positive environmental and social responsibility policies,. avoid investment in any company whose activities can be clearly seen to be in direct conflict with the objectives of the Cha rity. The investment policy 15 formally reviewed every three years and was last updated in February 2023. AII change5 are approved by the Board. The policy may be reviewed sooner if the risks facing the Charity were to change. The basic investment strategy 15 kept under review by the Resources Committee. Remuneration Perennial regularly revieivs the remuneration of all staff, including the Senior Leadership Team, to ensure tl)cl L 5(11(Iries a nd term5 & ionditions of employtnent are f¢Jir and reasonable. in line with the ma rke.t Il nd facilitate recruitment of personnel. .24.
Gardeners, Royal BeneKyolent Society Trustees, Report for the Year Ended 31 December 2024 08828584 STATEMENT OF TRUSTEES, RESPONSIBILITIES The Trustees. who are a150 directors of Gardener5 Royal Benevolent Society for the purposes of company law, are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (UK Generally Accepted Accounting Practice). Company law require5 the Trustees to prepare financial statements foreach financial yearwhich give a true and fair view of the st3te of affairs of the charitable company and of the incomiiig resource5 and application of resou rce5, including the income and expenditure. of the charitable com pany for that period. I n prepa ring these fina ncia I statements, the Trustees are required to- select suita ble acco ll nting policies and then apply them consistently-, observe the methods and principle5 in the Charities SORP.- make judgment5 and estimates that are reasonable and prudent- state whether applicable UK Accounting Standards have been followed, subject to any material depa rtures d isclosecl a nd explained in the fina ncial statements; prepare the financial statements on the going concern basis unless It Is inappropriate to presume that the charita ble com pa ny will continue in business. The Trustees are responsible for keeping adequate aciountin8 records thal are suff icient to show and explain the charitable company's tra nsactions and disclose with reasonable accuracy at a ny time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006, the Trustee Investment (Scotlandl Act 2005 and regulation 8 of the Charities Accounts Iscotlandl Regulations 2006. They (ire d150 responsible for $4]feguarding the <155ets of the charitable cornpa ny and hence for taking reasonable steps for the prevention and detection of fraud a nd other irregula rities. SO far as each of the Trustees is aware at the time the report is approved: there is no relevant aLJdit information of which the charitable company's auditors are unaware,. and the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit inforniation and to establish that the auditors are aware of that information. Format of the Financial Statements The financial statements have been prepared so as to comply with the Statement of Recommended Practice for Charities (SORP 2015) (Second Edition, effective l January 2019). the Financial Reporting Stondord opplicoble in the UK and Republic of Ireland (FRS 1021 and the Companies Act 2006. The financial statements also comply ivith current statutory requirements and with the requirements of the Charity's own rules. In approving this 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 its behalf by.. Paul Rochford Chairman 19 June 2025
Gardeners, Royal Benevolent Society Auditor's Report for the Year Ended 31 December 2024 08828584 INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS AND TRUSTEES OF GARDENERS, ROYAL BENEVOLENT SOCIETY Opinion We hdve audited Ihe financial statements ofGardeners' Royal Benevolp.nt Society for the year end?.d 31 Decembe.r 20?.4 whicli compri.se the Groiip Slatcment of frinanr.lqil Ac.tivitie5, the Group and Parp.nt Charitable Company Balance Sheet5, the Group Cash Floiv Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 Tne Financiol Reporting Stondard opplicable in the UK ond Republic of Ire1017d (United Kingdom Generally Accepted Accounting Practice). In our opinion. the financial statements= give a Irue ana fair view of Ihe siaie of Ihe group's and Ihe pareni charlT2ble company's affalrs as aT 31 December 2024 and of the group's and the parent charitable company's net movement in funds, including the income and expenditure, for the year then ended- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Companie5 Act 2006, the Charitie5 and Trustee Investment (Scotlandl Act 2005 and regulation 8 of the Charities Accounts {Scotlandl Regulations 2006. Basis for Opinion We conducted our audit in accordance with International Standard5 on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditorfs Responsibilities for the Audit Df the Financial Statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to ouraudit of the financial Statements in the UK, including the FRC'5 Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions Relating to Going Concern In auditing the financial statements, we have concluded that the Trustees, use of the going concern basis of accounting in the preparation of the financial statements is a ppropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individLially or collectively. tnay cast significant doubt on the group's ability to continue a5 a going concern for a period of at least twelve tnoiith5 from when the financial statements are a uthorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the releva nt section5 of th15 report. Other Information The Trustees are responsible for the other information. The other information comprises the information included in the Trustees, Annual Report and the Chairman's Introduction. Our opinion on the financial statements does not cover the other informalion and, except to the extent othe rwise explicitly stated in our report, we do not expre55 any form of a55urance conclusion thereon.
Gardeners, Royal Benevolent Society Auditor's Report for the Year Ended 31 December 2024 08828584 In connection with our audit of ihe financial sfalements. our responsibility 15 to read the other information and, in doing so, consider whether the other information is materially incon515tent with the financial statements or our knO..ledge obtained in the audit or otherwise appear5 to be materially mi55tated. If we identify such materia l i nconsistencies or apparent materia I misstatements, we are required to determ i ne whetherthere is a material mi55tatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed. we conclude that there is a material tY?isstate.me.nt of this other inlormalion, we are required to report that fclCt_ We_ have nothing io report in this regard. Opinions on Other Matters Prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the Trustees, Annual Report (which includes the strategic report and the directors, report prepared for the purposes of company lawl forthe financial yearfor which the fi na ncial statements a re prepared is consistent with the financial Stateme nt5,' and the strategic report and the directors. report included within the Trustees, Annual Report haiie been prepared in accordance with applicable legal requirements. Matters on Which We Are Required to Report by Exception In the light of the knowledge and understanding of the group 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 Iivhich i ncorporates the strategic report and the directors, report). We have nothing to report in respect ol the following matters in relation to which the Companies Act 2006 and the Charities Accounts Iscotlandl Regulations 2006 las amended) require us to report to you if, in OLJr opinion= adequate accounting records have not been kept by the parent charitable company, or returns adequate for OLir audit have not been received from branches not visited by us,. or the parent charitable company financial statements are not in agreement 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 OLI r audit. Responsibilities of Trustees for the Financial Statements As explained more fully in the Trustees, Responsibilities Statement set out on page 25, the Trustees (who are a Iso the directors of the charitable company for the purposes of charity lawl a re responsible fo r the preparation of the financial statements and for being satlsfied thal theygive a true and fair view, and for such internal control as the Trustee5 determine 15 necessary to enable the preparation of financial statement5 that are free from material misstatement. whether due to fraud or error. In preparing the financial statements, the Trustees are responsible forassessing the group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate Lhe group or the parent ch(Irit<ible company or to cease operation5 or have no realistic alternative but to do so. Auditols Responsibilities for the Audit of the Financial statements Our objectives are to obtain reasonable assurance about whether the financial statements 35 a whole are free from material mi55tatement, whether due to fraud or error, and to issue an auditor'5 report that includes our opinion. Rcasonable assurance is a high level of assurance. but 15 not a guarantee that an audit cond ucted i n accorda nce ¥vith15As l UK) will always detect a material misstatement when it exists.
Gardeners, Royal Benevolent Society Auditor's Report for the Year Ended 31 December 2024 08828584 Misstatements can arise from fraud or error and are Considered material if, individually or in the aggregate, they could reasonably be expected to influence the econom ic decisions of iisers taken on the basi5 of t he5e financial statements. Irregularities, includi ng f raud. are instances of non-compl ia nce with laws and regulations. We design procedures in line wit h our responsi bilities. outlined above, to detect materia I m isstatements i n respect of irregulcirities. includinF, fraLJd. The e.xte.nt to which our procedures are capable of detecting irregularities, iniluding fraud is deiailed below- Based on our understanding of the group and the environment in which it operates, we identified that the princi pa I risks of non-com plia nce with laws and regLJ lations related to compl ia nce with regulatory requirements of the Charity Commission, employment law, health and safety regulations and compliance with Financial Conduct Authority rules in respect of debt advice work, and we considered the extent to which non-compliance might have a material effect on the financial 5tatement5. We also considered those laws and regulation5 that have a direct impact on the prepa ration of the financia I statement5 such the Companie5 Act 2006, the Charitie5 Act 2011, payrt711 taxe5 and VAT. We evaluated management's incentives and opportunities forfraLJdulent manipulation of the financial statements linclud ing the risk of override of controls) a nd determined that the principa I risks were re lated to recognition of income and management bias in certain accounting estimates. Audit procedures perl'ormcd by the engagement team included= Inspecting Trustees, meeting minutes; Inspecting correspondence with regulator5 and tax authorities: Discussions with management including consideration of known or suspected instances of non- compliance with laiv5 and regulation aiid fraud- Evaluating ma nagement'5 controls designed to prevent a nd detect irregula rities: Identifying and testing journals- and Challenging assumptions and judgements made by management in their critical accounting estimates. Beca use of the inherent lim itations of an audit, there is a risk that we will not detect al l irregula rities, including those leading to a material misstatement in the financial statements or non-compliance i¥ith regulation. This risk increases the more that compliance with a law or regulation is removed from the events a nd tra nsaction reflected in the financial statements, as we will be less l ikely to become aware of insta nces of non-compl ia nce. The risk is also greater regarding irregularities occurring due to fraud rat her than error. as fra ud involves intentional concealment, forgery. collusion. omi55io n or mi5represeiitatioii. A f urther description of ou r responsibilities for the a udit of the financial statem e nts is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. Use of Our Report This report is made solely to the charitable company's members. as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, section 44{Illc) of the Ch3rities and Trustee Investment (Scotlandl Act 2005 and regulation 10 of the Charities Accounts {Scotlandl Regulations 2006. Our audit work has been unde.rtaken so that we miEht state to the charitable company's members those matters we are requ ired to State to the_m iri Auditor'5 report and for no other purpose. To the fullest exteni permitted by Iilw, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company'5 members a5 8 body, for our audit work, for this report, or for the opinions we have formed. Lee Stokes {Senior Statutory Auditor} for and on behalf of HaysW1ac LLP, Statutory Auditors 10 Queen Street Place, London EC4R IAG 0110912025
Gardeners, Royal Benevolent Society Financial Statements forthe Year Ended 31 December 2024 08828584 GROUP STATEMENT OF FINANCIAL AcriviTIES FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted General Designated Funds Funds £000 £000 Restricted Income Funds £000 Total Funds 2024 £oao Unrestricted General Designated Funds Funds £000 £000 Restricted Income Funds £OOD Total Funds 2023 £000 Note Income from.. Donations Legacies haritable activities Accommodation Gardens Friends of Dcrennial (memberships) Other trading aciivilies Trading fjubsidiary Fundraising events ', nvestments othe.r 450 1,031 161 24 611 653 1,040 152 71 805 I,iii 50 149 95 50 149 12fJ 53 152 65 53 IS2 93 34 28 663 118 124 663 118 1,214 34fJ 667 114 166 13 667 114 1,602 iu 1,065 25 1,404 32 Total Income 25 32 ExpenditurE on.. Charitable activities Advice and caseivork Grdnt5 and benefiis Gardens Housing and care Markeling Raising fuiia5 Trading sub51diarv Fundraising costs Investment management I mpai rment of property a55et held for resale Total Expend iture 1,764 387 1,172 75 743 1,764 396 1,172 75 743 1,672 446 1,130 85 902 1,672 453 1,130 85 902 12 '). l2 12 624 562 624 562 220 619 482 619 482 12 13 202 li 4.50 189 204 450 199 14 562 li Net Operating su rplu51lDeficit) (c/[to next pogel 1,551 12,7831 li 11,2211 1,119 12,5231 21 11,3831 29
Gardeners, Royal Benevolent Societv Financial Statements for the Year Ended 31 December 2024 08828584 GROUP STATEMENI OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 3 1 DECEMBER 2024 (continued) Unrestricted Genera l DeSiEnated Funds Funds £uuo rooo Restricted Income Funds £uou Total Funds 2024 rooo Unrestricted Genera l Designated Fund5 Funds LOUO fOOO Restricted Income Funds iooo Total Funds 2023 £000 Note Net Operating SurplusnDeficitl Ib/+* J Jrorn previous po9p) 1,551 249 12,7831 li 103 11,2211 1,119 127 12,5231 21 45 11,3831 Nel gains on investmert Net Income Transfers betwpen funds Net Increase/lDecreasel in Fu nds Reconciliation of funds Total funtts brought forwar Total funds carried forward 16 1,800 1,883 00 114 3,797 1,246 14261 66 886 500 3,183 114 3,797 17541 1,574 66 886 58 085 65,932 6,439 Al, amou nts relate to conli ing operatiop.s. The Noies on pages 34 to 47 form part of these I nèncial statement5.
Gardeners, Royal Benevolent Society Financial Statements for the Year Ended 31 December 2024 08828584 GROUP BALANCE SHEET AS AT 31 DECEMBER 2024 Unrestricted General Designated Fund5 Funds iooc) rooo Restricted Income Fund5 roao Total Funds 2024 £000 Unrestricted General Designated Funds Fund5 £ouu LOOO Restri¢ted Income Funds £000 Total Funds 2023 Note Fixed Assets Tangible a55etS Investment5 811 155 4,390 5,201 830 4,652 966 6Jf 139 Current Assets Stock Debtors Short term cash invp.slmp.nis Propiirty asJciI hold IDr Cash at bank oind in han 17 85 1,53 84 1,194 372 84 1,194 372 1.538 359 16 376 628 632 5,764 16 5,781 2,52fs 52 2,532 Creditors.. falling due within one year Net Current Assets 20 291 2,116 2,180 Total Assets Le55 Current Liabilities Total Fund5 62 615 Ye charity-only suiplus fc)r the year d rnou'nled to £3,801,604. rie Notes on pages 34 to 47 fo'ry part o, these linancial statements. The fina ncial statements wo'e a pprjved and authorised for issue by the Board of Trustee5 a nd were signed on it5 behalf on L9 lune 2025. Ipaio Paul Rochfvid Chuirman stpvpn PHlmpr Hgnorary Treasurer
Gardeners, Royal Benevolent Society Financial Statements for the Year Ended 31 December 2024 08828584 CHARITY BALANCE SHEET AS AT 31 DECEMBER 2024 Unrestricted General Designaled Funds Fund5 £000 £000 Reslricted Inrome Funds £000 Total Funds 2024 £000 Unrestricted General Designated Funds Funds £000 £000 Restricted Income Funds £000 Total Funds 2023 £000 Note Fixed Assets TAn8ible assets Invp.stmv.nts 811 L83 4,390 5,201 830 4,652 5,482 994 Current Assets Dp.hior Short tE'.rm Cr)%h inves'tfflLints Property asset held for sale Cash at bank and in hand 1,236 312 250 576 1,236 37?. 250 580 3,182 3,'182 317 16 334 5,675 16 5,692 2,434 2,438 Creditors IGlling due within one yeor Net Current A55et5 21J 278 14 292 339 Total Assets Less Current Liabi l ities Total Funds 59 659.-.a2 The Note5 on pages 34 to 47 form part of these financial 51atementS. The linancia15tatements were approved and authDrised for issue by the Board of Trustees and were signed on it5 behalf on 19 June 2025. Paul Rochford Chairman stoVn Pdlm?.r Honorary Treasurer
Gardeners, Royal Benevolent society Financial Statements for the Year Ended 31 December 2024 08828584 GROUP STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 £000 £000 £000 £000 Reconciliation of net income to net cash flow from operating activitie5 Net income for the reporti ng period la_5 per the SOFA) Impairment of property asset held for resale Depreciation charges (Gains) on investments Dividends, interest and rents from investments IGAin_sl ori the _sale of fixeti asspts & othe.r properly Ilncreasel/DcicreasL? in Siock Ilncrea5el in debtors IDecreasel In cre(Jiior5 Net cash {used inl operating activities 3,797 886 450 222 12,2691 11,6021 171 218 15,0181 11,2141 13291 13441 47 142,1 12,9381 12,7351 Cash flow5 from investing activities Dividends, interest and rents f rom inve5tfflents Proceeds from the sale of property, plant and equipment Purchase of properly. plafjt and equipment Proceeds from thp. -Sdlt'. ol I nvc5trnent5 Purchase of inveslments 1,214 690 1481 22.50X 1,602 12 1331 26,765 L26 024 Net cash generated from investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalenL5 at the beginning of thL reportirg period Cash and cash equivalents at the end of the reporting period 3,154 14131 Analysis of Changes in Cash and Cash Equivalents At ljan 2024 LOOO Cash flow5 £000 Other non-cash £000 At 31 Dec 2024 £000 Notice deposits (less than 12 months) Cash 372 632 3,410 256 3,782 376 Total cash and cash equivalents
Gardener5' Royal Benevolent Societv Note5 to the Financial Statements for the Year Ended 31 December 2024 08828584 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting Policies The following accou n,.rn8 policies have been used consistently in the preparation of tr.e f'"n3ncial statements. Basis of Preparation The financial stalerpents havg been prepared i Y acccroarce %Jiith the St(3tement o,, Recommended Proctice for Chorifie5 150RP 2015) (Second Edition erfectiiie l January 2019j (C.cr ties SORP IFRS 10211. the Finar,-io:' Roportinq Standard applicobie Iri IhL' UK and Rppublic o[ir" ond IFRS 1021 and the ComFanie_- .Act -.J06 Perennial meets the def iiition of a piiblic benefil enlit¥ under FRS 10? Asspts and liabil":ies are initially recognised at historical cost or traniaction value unless otheriv,'se staiec In tie relevant accounting poli" .y notelsl. Going Concern The cost of living i%,,.11 ..pei.'Itably havi.. a major impact on OLII 5i'"viie users dliring 20L_5 I.: h ¥VL' anlicipate will contirdL to lead to an increasing fiyar,cial demand on the Ciarity. Our investments gained further val..e in 2024 but the effect of market movements on thei., fu".u re carrying values coptinues to bp an area of uncertainty. Having considered f utu re bu dgets, C3sh flows 34d reserves, lie Trustees confirm that tbey have no material doLibts about the C.h3rity's abi lily to meet I Is debis as they fa li due. There are no matp_rial uncer:aintiei that would impact on the Cha rity's ability to continue In operational existence for the fore..¥e.e.able. fuluiv. The accounts are -.here.forp prepared on a goiY8 concern ba515. Group Financial Statements The financial statement5 consolidate the results of the Chari-v and ils wholly owned subsidiary, Perennial Trading Ltd, on a line-by-line basis. A separate St2tement of Financial Activi:ies and Income and ExperoitLire Account for the Charity have r)ot bgen presented because the Trustees have taken aova,Itage of the exemption afforded iy section 408 of the Compa n ie5 Act 2006. The income and expeyd iture. of the subsidiary company are separalely disclosed wi-h.in tie GroLlP Statement of Fiv,aNcial Activities dnd lorm part of unrestricted Eeneral funds. FuTtler details are disclosed iii Note 9. Funds Unrp_stricted funds dri. IlJblt.. for USL. dl Lhl. d"siro.tiun uf the Trustee.5 in thp. pur5UIt cl Pc'.r('iinial's ch&irit,4blp obip-. I IVP4. Designated lu are unresli'icted funds that haiie been £ei a>ide for specific pur poses dt ihe discretion ol the T rustees. Restricted funds al'e to be used for particular purposes as specified by the. donor. In thp case of desigqated a nd restricted funds, expen.diture tbat meets the specific criteria is charged to the fund, incl LJding a fair allocation of suppori costs where. appropriafe. It is the Truslees, policy to retain.. sufficient unre>t.'Icted funds to help mitigate the short-term effect5 of income vgla-il'ty and unexpected increa5e5 ill expenditure,. sufficient designated funds to generate a core corrporeit of investment income to supplement more volatile vol u ntarv income in order to su pport the Charity's long-term co-. Ini,tn?ent to provide on-going services to its beneficiaries. Full details of the movernent5 On funds and their purpose a.-e set out in Notes 4-8 Income Recognition All income 15 recogrised oyce the Charity has enlitleinent -0 the income, it is probable tiiat tlie income will be received, and the amou nt of income car be measured reliably. For leR,Icies, e.ntiileTent is conside.red to be the ear'ier of We7 either. nolificriliuri has bL ep. received from the execLifDr Iha- pr?bdL(: has bL't'.n lianted iiid the Charity i_s p.xpi'.ctc..d tu receivp , distribiition. or distribution has been received from the estate. Receipt of a legacy is cnly considered probable i:'ien the oxeciitors hakie indicated that the.re are sufficient asseis In the estate ta make 8 disir,biit,'on. Ivhere legacie5 have beer, rotiried to the Charity. but the criteria for income recogr,itian 113V not been met, then the legacy is treated as a contingent a55et and disc105ed if mdteridl. Rever5ionary interests are iict re.cognised until the cessation of the life interesl,. tiey are tbei valued as for residdary leÉ3cies.
Gardeners, Royal Benevolent Society Notes to the Financial Statements for the Year Ended 31 December 2024 08828584 Donated goods and )erVie5 are recognised as incgrre Wiien the value of the economic berefit can be measured reliaJlv, which is the amourt the Cha rity would have been prepareo :? pay lo obtain the eqLiivalent goods and service5 On thf B pen market,. a correspondi ng amount 15 the.n recognised in LxJenditure in the period of recaiut. In accordance with LhE. Chv.5"Ities SORP IFRS 1021, ger.era volunteer time is not recogni5e.d in tyi e financial slatement5. Other donations are 'e"ogni5ed when received. Income received in aovB nce of our Special Events is oeferred until the date of the event. Expenditure Expenditure is recogrised once there is a legal or corstructii'e obligation to make a payment to a third party, it is probable that settlement will De required, and the amount o, he obl.ga:ion can be measured reliably. The expenditure on each activity comprises the direct Cos-s of the activity together with support Costs as shown In Note 12. Diroct costs include depreciation on asseLS used to deliver tie activily. Expenditure is accouiited for gross of irrecovo'a ble VAT. Grants and bonefit payments are charged to the Statement of Financial Activities Iri the SiQar in which the obligation to make payment falls. Allocation of Governance and Support Costs Governance costs relate 10 the statutory and legal obligat or.s of running the Charity. They include rhe cosis of trustee meetings, audil and legdl lees. Support costs are thc5e functions that enable the i4iork of the Charity. but which do not directly undertake charitable activitie5. These costs have been allocated on the basis of.. Secretariat Governance Finance Premise5 (including asJOClated deprecialionl IT lincluding a550ciate.d de.preciatioril Other Administratior Time Spent on Gctivitv Spend per depa rtment spe.nd per depa rtmpnt Number of staff based at qeBd Office Number of staff in department Number of5taff in department Pensions The. ChariLy provides a groJp money purchase dpf npd con-ribution ppnsion scheme operaLed by Aviva via a salary sacrifice arr8ngement_ Al l eligible. e.rn ployees are. automdti-ally enrolleo into it unle55 they have. exe.rci5ed the.ii light Lo opl ou l. Thp. Charity makes a matching coniriburion of beiii'eer, 4.oo/- and 7.5% of salary to the scieme. Thc amount included In the Statement of Financial Activiti es repre5ent5 the tota+ amount oayable by the Charity in te year. Fixed Assets Individual fixed 3$5eis costing £1,000 or more I£SOO for IT eauipmenll are capitalised at an expense in the year of PLJrchase. ost.. otherwise the cost is treated a5 Fixed assets are depreciated over their estimated useful economic life a5 follows.. Freehold Office, HoLSi.Ig Properties and Gardens Furniture, Fixtures and Fiiii ngs IT Equipment Motor Vc..hiclv.5 40year512/Yo per annuml 5 years120Vo per 3nnuml 3- S years120% to 33Yo per ap,numl 25 /0 reducing balance ba.41.5 Investments Investments are stated at their fair value on the last day of trading before the year end. Gains and Losses on Investments Realised and unrealised gai n5 and1055es in the StateTrent of Financial Activities represent the aggregate of gain5 or Ioises achieved by the Chariti.. on invostments sold duriryg the year tO8ether with the net increase or decreaso in market value of the investment5 Since te last balance Sheet date cr the dale cf acquisition, if later. Inveitmenr income, gains and Io>ses 3 re allocated to funds in proportion to the openinE value of investments held In each fund.
Gardener5' Royal Benevolent Societv Notes to the Financial Statements for the Year Ended 31 December 2024 08828584 Stock Stock 15 included al the loiver of cost or net reaiisable value_ )onated item5 of stock are recogni5ed at fair value, which is tlie dmount the Charity Id have been willing to pay for +he iteris on ihe open market. Debtor5 Trade and other deb'.or5 are recognised al the settlement ai)iounl due after any traoe. discount offered. Prepayments arp -cunts d4iL. vJIuL'd Jl Lhe. amount p'epaid net of any trade dis" Cash at Bank and in Hand Cash dt bank and iq hL3 nd includes bank accounts, cash arc 5hcrt-teittb, highly liqi, id investment5 Wlth a short maturit¥.' of three month5 or le.55 from the datè OF acquisition or opèn I'8 of the deposit or similar account. Creditors and Provisions (-reditors and provisions are. re.cogni%i:d whl'rt.. Ihi. Lliar"ty h(s5 d PfL'senl oblig,Ition rpsuIt.'p,b (r()m a pasl event that will prubdbly resulr I n the tr,I flster Ilf funds to a third party ai(4. the. aniounl du(.. to 5LNttle Ihe obl,'gation can bc.. measured or estimated reliably. Credi'.or5 and provisions are normally ". ecognised at their settlemert amou nt after allowing for any trade discounts due. Financial Instru ments The Charity only has Iiiaycial as5É..ts and liabilities of a kind that qualify ds basic financial in> rumpn15. Basic financial instruments are inilia Ily ', ecognised at transaction valJe aid SLib5equently mea5ure.d at the11. settlement value. 2. Taxation As the Charity only .Jndertak'es activities relating to Its charit3ble status, it has no liab'lity to t3xation with the exceptioy of irrecoverJblo. Va lu&. Added T.Ix. No taxation is péydble by Perennial Trading Ltd as it Gift Aids its taxable profits to the Charitv. 3. General Funds The Trustees have reviewed the Charity's reserves policy- as part of this process, the amounts held in designated funds have al40 been roviewed TrAllSfer% be.twv.p.n gi'rE'.ral fuiids dnd dc'.si8ncilf.d fu.Ids al Li %hLgwn in Nutes 4 cind 7. The total fund balance as shown in the Statement of Financial Activities is analysed as.. 2024 £000 2023 £000 Charity general funds Ne.t a55et5 Qf trading company Group general funds 6,391 5,8SG The nel assets that comprise general funds are shown on the Group and Charity Balance Sheets. 4. Analysis of Fund Transfers Transters were rnade at 31 Dp.ce.mber 2024 as follows= General Designated Fund Funds £oao £000 Restricted Funds £000 2024 Total £000 Tr&ir)sfL'r £eneral funos lo re-a Iign bJlances in designated fuiids fJp.£ig,natp. ge.np.IAI lu lids ta covt'.r running cos[% o,, I h(. La5kc..tt 11,04Jl 1,045 General funds have beei transferred to designated funds. the reserves held in indiv.dual fund5 have been rebalanced tD en5uie Ihdt ihe inves: ment Income 8eneraied prov oes an appropriate level of 5Jppori (o eaih DI Dur charitable activities.
Gardeners, Royal Benevolent Society Notes to the Financial Statements for the Year Ended 31 December 2024 08828584 Designated Funds Gardeners Royal Ben Funds £ouo Lironi Training Fund £000 Garden Funds 2024 Gardeners Total Royal Ben Funds Funds £000 Lironi Training Fund £000 Garden Funds 2023 Total Funds £ouo EOOO £000 Income from: Donations Legacies Accommodation Gardens I nvestments Other 153 161 24 50 244 1,065 16 147 152 71 53 217 1,404 24 71 50 53 244 104 15 217 161 903 58 1,165 78 Total Income 59 78 4.58 Expenditure on,. Advice ancl casciwork (If()nt% lld bpnp.lit% Gardens Housing and care Marketing lnvestme.nt management 'rotdl Exp?nditur£! Nel Operating IDefiCItI Net gains on investmenii Transfers between fund5 1,764 201 1,764 381 1,172 75 743 20 1,672 2751 J,67? 44b 1, 130 85 902 180 168 1,172 1.130 75 743 164 85 862 40 28 1_gQ 47 78 11,8471 3,733 11311 241 385 18051 692 25S 12,7831 4,666 11,6a21 1,667 iiooi iii 17411 319 12,5231 2,097 Net Increa5ellDecrea5el in Fu nds Designated funds brought fo rv/a rd Designated f u nds carried forviard 3,316 {2751 142 3,183 1,629 1661 1,574 25 Tangible fixed assets Investments Net current assets 283 47,466 4,107 8,424 4,390 58,451 422 44,011 4,230 8,158 4,652 55,005 2,561 2,836 Net assets of desiRnateu funds 12 39L 59,6.59
Gardeners. Royal Benevolent Society Notes to the Financial Statements for the Year Ended 31 December 2024 08828584 6. Use of Designated Funds The allocation of reserves to designated funds 15 an effective way to manage the Charity's re.sources and to protect It5 3 bi lity to continue to meet its con)mitments for rhe foreseeable futb". e. Gardeners, Royal Benevolent Funds This groijp of designated f J nds carries the very essence of t*e Charity from its foundation in 1839 to provide for Ihe lopg-term needs of its beneficiaries. H aving grown over many years frotr. donations, bequests and investmpnt returns, these impo rtant funds ensu re the Charity is a blo to iiieet Its long-term commityent to both currenl and future beneficiaries, 3$ fol'ows.. Thp flind pAy% for regular cuarterly benefit payments - typically to beneficiaries who have ILtiri..d, pu55ibly lor the rernaindpr of their live.s_ 1839 ReEular Beneficiary Fu nd: Good Samaritan Welfare Fund.. I hc.. fund wa5 c'.slJblishLd in 1899 to provide. eniprge.ncy payments in cases ol %PL'cial nL'(.d ILS purpose has £inc.p been extpndt..d to covc'.r all graiit p,Iynipnts madt.. to bLnL fir.iari The fund i_s 11_spd to providp rp.nt(..d dcconimodation Lo retired horticulturalisls iii a spler.lion of 5elf-contoined bungalowi. Retirement Housing Fund- Long Term Care Fund: The f und provides financial iupport to beneficiaries for the care they need, eitner to meet the fees charged in resider.tial and nursing care home5 or to help to pay for care at h ome. The f und pays for Ihe ChariLy'5 nationwide team o( Caseworker5 and Debt Advise.rs, i¥ho assess and review payments from the funds described above as part of the service to ou r beneficiaries. which airp.s lo help them identify and lope wilh the problems they face. Advice & Casework Fund: Lironi Training Fund Thp. fund was eslablished i Y 2009 in memory of Ms J Lironi w.'ho left a significant legary to the Charity to provide an income to pay for training initialive5. The f und provide5 bursaries to support trainee gardeners, together with su pport to attend training courses and grants for horticulturists, children who are enteriYE training. Garden Funds Each of these designated fund.s exist for the pui pose of ensuring the gardens run as 3 visitor attraction to promote the Cha rity, to ensure that the. land and bu Ildings are maintained. and the original character of the Éa rden is preserved aiid enha I'ced. Fullers Mill GaTden= I ht.. lund wis Irc'.iJlt.d in ?01? uri the rMerRer with the Fiillprs Mill I rust, or iRin&illy set u p as ,1 chaiitdblp. tfLlSt lor th(. bPLCI'iC pufpusL' v( presL rviiig Jnd runniiig tht.. gcirdL'n. I lie fLI nd Includes rLserves set aNide tor the purpose ol devL.lupinL IhL. lacililies at the gardi I". York Gate Garden- Originally the bequest of ttre late Sybil Spencer in 1994, the purpose of thi5 designated fu nd is to maintain and operaie York Gate house and garden in Adel, near Leeds. The 3mo u nt held within the fund represents thp. original capital provided in the bequest for the purpose of presorving it, as weil as the property itself. During 2020, the redeveiopn.)enr work at York Gate wa5 complpted and the adjoi v i ng York Gate Cottage, was conso,idared into one single property. Ger)eral funds were traniferred into this fund to reflect tne .nvestment in the garden. The Laskett Garden: When Sir Roy Strong donated his house and garden plus associated properties in Herefordshire lo Perennial in 2021. this new designated fu nd wa5 created LO init'3.'Iy hold the value of the land ar.d bu Ildings. The fund will ultimately hold any further legacy left by Sir Roy. to be used to maintAin and operate the garden.
Gardeners, Royal Benevolent Society Notes to the Financial statements for the Year Ended 31 December 2024 08828584 Restricted Income Funds Client Grants Fund Children's Fund 2024 Tota I Client Grants Fund £ouo Children's Fund 2023 Total £000 £Doo £000 EOOO Income from.. I nvestments 25 25 32 32 Total Income 25 25 32 Expenditure on: Grants and benefits Investment management Total Exper)diture Nel Operating Surplus Np.t gains on invv.slmpnts Net IDecreaselllnErease In Fu nds Restricted funds brougnt fo rvia rd Restricted funds ca rried forwa rd 14 14 li li li 21 21 103 45 114 114 66 66 Investments Net current a55ets 1,332 1,332 1,218 1,218 N ét a55et5 of res'tricted fu nds
Gardeners, Royal Benevolent Society Notes to the Financial Statements for the Year Ended 31 December 2024 08828584 8. Use of Restricted Funds Client Grants Fund The. Clic'.nt Grants Fund 15 Used for all restricted Erants and donations received to p.nhanF.p. thp. financial Support that the Charitv gives. whether for use in a >pecific area of the country or >Fecifically for individual service users. Children's Fund The Children's Fund was established on the nierger with tfre Royal Fund for Gardeners, childre.n in 2010. It is dedicateo to the oducation of children of horticulturists, providing financial support to hplp fund edLJCdtional opportunitie5, eveii K4,here pa rents are not in direct receipt 04 Perennial's help. Bursaries may be available towards the additional costs of a child's educa-,ion, such as laptops or tablets essen-.ial for school use, after-school clubs or school trips, school uniform or sports equipment a nd school meals. 9. Trading Subsidiary Perennial Trading Ltd, a company incorporated in England ano Wales (number 891277}, 15 wholly owned by the Charity a nd Uses the trading name Perennial Trading. Its activitie5 are up.dertaken en iireSy for the benefit of the Charity and "onsiit of cafe catering and the sale of planis and other merchandise at our gardens, via our website. trade stands at shows and ieaiona I catalogues sent to our su L)L)Orter5. 2024 2023 £000 £DOO £000 £000 Re5uIt5 of trading 5ub5idiary: Turnover Cost olsales Distribution costs Administration costs 663 667 12581 12731 1371 309 322 624 619 Trading profit from subsid iary before payments tolfrom Charity Payments Itol/from Charity: Loan interest P<lydble to Cha rity Management charges Recharged costs of shared activitie5 39 48 121 171 {7} Profit of subsidiary for the year (before taxation and Gift Aid donation to Charity) Gift Aid donation to Charity IDecreasel/lncre3se in funds of subsidiary for the year 37 45 42 Np.t a%%p.ts of subsidiary 76 Donation5 to Chority arising., rom customer order5 other donatAoll5 to Charity generated by 5ub5idiary-5 UCtibilie5 14 Is 10. Investment Income 2024 000 2023 £000 Income from UK listed investments Income from UK listed property funds Interest f rom 5hoit term cash dep051tS 802 261 1,234
Gardeners, Royal Benevolent Society Notes to the Financial Statements for the Year Ended 31 December 2024 08828584 11. Other Income 2024 £000 2023 £000 Sale of fixed a55ets Sale of property asset held for resale {current asset51 Other miscellaneous items 299 30 17 io 346 17
Gardeners, Royal Benevolent Society Notes to the Financial Statements for the Year Ended 31 December 2024 08828584 12. Analysis of Total EKpenditure by Activity Advice & Grants & Casework 8enefits £000 Gardens Housing Ma rketing Fundraising & Care Costs £000 £000 Trading Governance Subsidiary 1000 HO Investment Suppart Mgmt EOOO £000 2024 Total £000 2023 Total £000 £000 £000 £DOO £000 Grant P3ympnt5 BLhnL¥fiL pdyrnerils Properly mdinlentince Depreciation P ui)licity & advertisi ng ot.ner shows & events Cost of sales lincl. distribution) Payroll COEts Travel & su bsistence Other Staff costs IT & communications Legal and pralv££ional TruslciLi fMLILltiny,g Su ntjry exper15e5 Investrnent management Total 282 22 282 ?? 369 218 257 3?7 251 146 34 16 91 39 28 222 315 73 310 2,963 119 113 259 134 23 35 167 21 49 302 290 302 3,149 99 86 325 78 16 68 220 1,195 47 33 69 429 327 319 19 589 21 32 146 26 17 22 66 19 30 16 24 io li 13 1,386 339 39 304 931 59 426 624 46 967 220 5,556 5,547 Re.allocated HO Support costs Re'.t)IIocdt?d ()OV?rn¢l ncp costs 83 215 26 14 133 17 124 19671 105 Expenditure on Actlvlty 24 The allucation of expenditure tu indiviuual funds can be found In the Statement of Financial Activities for gonoral fund5 and in Notes 5 and 7 for Designaiod and Restricted funds rospectively. The dela ilo.d comparalive fi8u rei for 2023 d re provided on the next page.
Gardeners, Royal Benevolent Society Notes to the Financial Statements for the Year Ended 31 December 2024 08828584 Advice & Casework £000 Grants & Benefits £000 Gardens Housing Marketing Fundraising & Care Costs £000 £000 Trading Governance Subsidiary £000 HO Investment Support Mgmt £000 £000 2023 Total £000 £000 £000 £000 Granr payrments Benetif priyme.nts P ro)p£>rly m iiiit(IrirJnc('. Depreciation P uJlicity & advertisi ng Other show% & events Cost of sale5 lincl. distribution) Payroll costs Travel & SUDSlStence Olhor staff costs IT & communications Legal and profossional Trustiif: m?.ptin85 Sundry pxpon5es Investment management Total 327 35 327 220 148 34 30 369 222 315 73 310 2,963 119 113 259 134 23 34 299 41 16 32 310 281 1,171 59 33 76 427 14 19 17 12 319 287 25 478 12 19 119 92 io 30 29 14 22 23 35 io 14 204 2Q4 1,351 274 362 860 71 745 378 619 74 883 204 Reallocated HO Support Costs Reallocated Governance costs 79 240 12 134 91 53 127 18831 47 Expenditure on Activity 672 453
Gardeners, Royal Benevolent Society Notes to the Financial Statements for the Year Ended 31 December 2024 08828584 13. Items Included Within Total Expenditure 2024 £000 2023 £000 Audit fees Depreciation 24 218 14. Staff Costs Key Mgmt Personnel £000 Other Staff £000 2024 Key Mgmt Total Personnel £000 £0 Other Staff £000 2023 Total £ODO WAgp.% & %ilaries Pension contributions 581 2,120 2.701 398 2,594 617 63 2.225 185 50 2.84? 424 36 2.306 185 2,730 221 12 Social security costs Group life & rnedical cover 59 Key Management Personnel are deemed to be the Senior Leadership Team (see page 481. The Senior Leadership Team ivas restructured in 2024, expanding frorn 5 to 8 people. Group medical insurance was introduced in March 2024 as an optio nal benefit available to all members of staff. The Charity provides a defined contribution group personal pension Scheme for its e_mployee5. Contributions are made I nto the scheme at rates of 4.0¥.- 7.5Q/ o of gross pav. The number of employees whose emoluments. excluding pension contributions, for the year fell into the following ban ds was.. 2024 2023 £60,001- £70,000 £70,001- £80,000 £80,001- E90,000 £90,001 . £100,000 Pension contributions of £35,58912023- £25,811) were paid in respect of ihe expanded Senior Leadership Team. The average numbers of full-ri me (Fni and part-time (pni employees. togeiher wirh rheir full-time equivalents IFTEI, at the end of the year were- 2024 2023 P/T FTE FTE Advice & Casework Gardens Mrirkc..Ling Fundraising other support staff 22.8 15.9 26.5 21_8 20.3 15.8 26.4 20.5 10.5 58.4 57.3
Gardeners. Royal Benevolent Society Notes to the Financial Statements for the Year Ended 31 December 2024 08828584 15a. Tangible Fixed Assets (Group and Charity) Freehold Property Furniture & Computer Office Other Equipment Equipment £000 £000 Motor Vehicles £oao Total £000 £000 £000 C05t or valuation: At l January 2024 Additions Disposals At 31 Deiember 2024 1,145 5,862 222 24 322 ?4 40 153 7,704 48 149L_ Depreciation= At l January ?0?4 ChArgp. for Ihe. ye.ar Dispu%als At 31 December 2024 1.314 J36 89 161 2,4S 117 21 35 19 218 39 40 Net Book Value: At 31 December 2024 At 31 Dece.mber 2023 15b. Tangible Fixed Assets- Details of Freehold Properties Year of Acquisition 2024 Value £000 2023 Value £000 Leatherhead Office: Kingston Road, Leatherhead 2007 Retirement Houses: comhe.rton Road, Barton. Cambs16 bung.31ows} l eigli Road, New Milton, Hap,t_s1 I bungalow)" Mdiior Wcly, HL'nfield, Sussex I I bunRcilowl 1968 544 .54-q ?(K)2 2D05 190 Gardens: FullÈr5 Mill Igardenl Fullers Mill Ihou5el' York Gate York Gate Cottage The Laskett. 2013 2018 1994 2015 2021 304 575 1,008 1,366 304 575 1,008 1,366 Historic31 cost equates to probate value al 3CqUlSltion date. Historical cost from valuation prDvided by chartered suNeyor.
Gardeners. Royal Benevolent Society Notes to the Financial Statements for the Year Ended 31 December 2024 08828584 16. Investments Listed Inve5tment5 £000 Property C3sh for Fund Investment 2024 Total £000 2023 Total £000 £000 EOOO Market value at l Januarv Purchases of investments Disposals al carrying value Revaluations 53,574 17.944 122.5081 4989 5,411 171 328 59,156 18,272 122,5081 5.018 57,628 26,024 126,7651 29 Market Vdlue al 3 1 Deceniber (Group) InvL'sIITient in 5ub%idiAry' Mcirket valiip. al -41 Df'.cembL'r Icharitvl 53.999 5.440 499 5C3,CJ38 2S 96 'The Charity own5 IOOYO of the. 5harL'5 of Perennial Trading I td No sinRle investment re.presentp.d a matESii3l shai LJ ol the lot.Il market value. at 31 D()ci'inber ?0?4. AII UK Property investments are held in UK listed Common 'nvestment Funds. 17. Stock Group Charity 2024 EOOO 2024 Eooo 2023 £000 2023 £000 Good5 for resale Plant stock for resale 83 71 13 85 18. Debtors Group Charity 2024 Fooo 2024 £000 2023 £000 2023 LoDu I rddL. debtors VA I RI.'CUVL'rable Prepayment5 Accrued legacies Other accrued income other de.btors Due from sub5idiarv 13 14 12 82 1,266 157 15 105 802 232 33 82 1,266 157 ioi 802 232 14 44 54 19. Short Term Cash Investment5 Group Charity 2024 £000 2024 £000 2023 £000 2023 £000 Dl'posit dnd nolice account5 782
Gardeners, Royal Benevolent Society Notes to the Financial Statements for the Year Ended 31 December 2024 08828584 20. Creditors: amounts falling due within one year Group Charitv 2024 £000 2024 £000 2023 £000 2023 £000 Trade creditors Taxation and social security Accruals Provision loi benefit5 payable Dp.terrpd incoryie c)ihL'r creditor% 43 58 94 94 59 ioi 38 58 86 88 59 94 so 36 54 so 36 54 352 339 Deferred inc.amp rplatP5 to fpps rpcpive.d in 3dvanc.e. tor e.vpnl5 to be held in ?0?4_ It i_5 fully fP.lea5L.d in the ye.ar tb.at thL' L'V('nl 1.4 hpld. 21. Operating Leases Expected future minimum lease payments over the remainifig I',fe of the lease, analysed into the period in which the commitment falls due.. 2024 EOOO 2023 £000 Within one year In the second to fifth years li nclusivel 31 39 Lease payments of £4,43812023'. £3,716) were recognised as an expense during the year. 22. Related Party Transactions There were no related party transaclions in the year {20?3-. Nill. No Triistp.e. re.cpivp.d rp.munp.ration during Lhc.. ye.dr120?3.- £Nil). Fxpp.ndilurcJ ot EIO.OY8 was iniurri.d ori I rustL'L'5' travel. subSi5tence, and acK.ommodation, includink £3,J14 reinibur.sp.d to oighi Trustees12023.' total expenditure of £3,6"05 with 13,427 reimbur5L.d to SLveii Trusteesl_
Gardeners, Royal Benevolent Society Trustees, Annual Report for the Year Ended 31 December 2024 08828584 OFFICERS, CoMMIEE5 AND ADVISERS OF THE CHARITY Honorary Office Holders Patron HRH Princess Alexandra President Ala n Titchmarsh C8F.. t)L, b 1N Vice Presidents Jim Buttress VMH Lord Cavendish of Furness Will Armitage Sir David Howard Bt Alan Kendall Ip, MBE Cindy Peck Dougal Philip Sir Roger Singleton CBE Sir Roy Strong CH Keith Weed CBE Members There were 97 Members of the Charity at 31 December 2024. Members of the company do not hold shares but are entitled to vote, attend AGMs and elect Trustees. The membership con515t5 of a whole range of supporters, including current and previous vice presidents, trustees. ambassadors, prominent figures in horticulture and volunteer5 who have given exceptional service. Board of Trustees Paul Rochford Ciridy Peck Steven Palmer Carole Baxter (to 9 Jul 2024) David Buchanan-cook Susan Burgess (from 9 Jul 2024) Richard Capewell (from 9 Jul 2024) Simon Goodenough fto 9 Jan 2024) Maureen Hart Jp (to 19 Nov2024) Richard Lawton Lilidh Matthews (from 21 Mar 2025) Helen Seal Barbara Segall Janies Sinclair Taylor Ifrom 21 Mar ?025) Neville Stein (from 9 Jul 2024) Emma Tinker (to 7 May2024) Jamie Gault Choirmnn Vir.e Chnii-iiirJ17 Honorary Treosurer Secretary to the 8oord of Trustee5 Senior Leadership Team Jamie Gault Anita Bate5 (to 10 Apr 2024) Laura Booty (from 4 Nov 2024) Julia Hayne Simon Kemp Amy Routley Ed Charles (from l May 2024) Joii Sharpe (from l MG! 2024 fo 14 May 2025) Clive Westwood (fron7 i Feb 2024) Chief Executive Director of Morketing & Fundr(7isii?g Director of Gorden5 & Commercial Development Director of Services Director of Finonce Director of Operotions Heod of Fundroising Head of Marketing Business Systems Mt7170ger
Gardeners, Royal Benevolent Society Trustees, AnnLJal Report for the Year Ended 31 December 2024 08828584 Committees of the Board of Trustees at 31 December 2024 Marketing and Fundraising Committee Richard Lawton Nina Baxter David Buchanan-cook SLJSd n 14urgess Barbara Segall Jeremy Storey-walker Ed Charles Jon Sharpe Chairman Co-opted member Trustee member TrLJSte_p. membe.r Trustee meimber Co-opted member Head of Fundraising Head of Marketing Nominations Committee Paul Rochford Cindy Peck Richard Lawton Neville Stein Steven Palmer Jamie Gault Chairman Vice Chairman Chairman Marketing & Fundraising Committee Chairman Policy & Services Com mittee Chairman Resources Committee Chief Executive Policy and Services Committee Neville Stein David Buchanan-cook Richard Ca pewell Helen Seal Julia Hayne Chairman Trustee member Trustee member Trustee member Director of Services Resources Committee Steven Palmer Richard Lawton la n Maxwell-scott (Investment sub-committee only) Cindy Peck Emma Tinker (Investment sub-committee only) Simon Kemp Chairman Trustee member Co-opted member Trustee member Co-opted member Director of Finance The Chairman of the Board of Trustees and the Chief Executive usually attend all Committees. Professional Advisers Auditor Banker Solicitor Haysmac Ilp 10 Queen Street Place London EC4R IAG Lloyds Bank plc 39 Threadneedle Street London EC2R 8AU Russell-cooke Ilp 2 Putney Hill London SW15 6AB Investment Managers Rathbone Group plc 30 Gresham Street London EC2V 7QN -J9-