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 fide 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 W￿e7 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 )erVi￿e5 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 t￿e 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 t￿e 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 Prly 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, CoMMI￿EE5 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-