GREAT COMP REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2023 PAGE I GREAT COMP CONTENTS PAGE Contents Report of the Trustees Independent Examinels Report Statement of Financial Artivities Balance Sheet Note5 to the accounts 9-17 PAGE 2 GREAT COMP (Charlty number 11898471 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2023 OBJECTIVES AND ACTIVITIES OBJECTIVES OF THE CHARrrY The Great Comp Charitable Trust (charity no. 2861181 was formed by Roderick and Joy Cameron in 1982 to ensure the future of Great Comp Garden. They gave the garden to their new charity "for the purposes of a garden for the education and enjoyment trf the public and with a view to furthering the study and science of botany and improving the practice and methods of horticulture" They had developed the garden themselves from 3 blank canva5, creating a collection of rare and exotic plants, and opened it to visitors. In 2009 Mr Cameron bequeathed the 400 year cild hoLJse which stands in the Earden to the charity. Great Comp (charity no. 11898471 IS the successor of the Great Comp Charitable Trust. The assets and operation of the Trust were transferrÈd to the charity in accordènce with an order of the Charity Commission on 30 October 2020. The new charity has the same objects as the Trust. MAIN ACTIVITIES UNDERTAKEN Great Comp Garden is open to the public from I, March to 30 November. It is one of Kent's leading gardens. In Spring the garden erupt5 into bloom with swathes of magnolias, azaleas and rhododendrons, under planted wSth large drffjts of hellebores and spring bulbs, wh11e summer brings warmth and extravagance from one of the most comprehensive and exciting collections of salvi3s in Europe. Ornamental grasses in Ereat variety punctuate the ttrlourful borders and combine beautifully with the myriad tolours of late autumn. Special evènts are held to encourage more people to come to the garden Including the Snowdrop Sensation dav, the Spring Fling plant fair, the Great Comp Summer Show, National Garden Scheme open days and open air theatre. The garden is a Partner Garden of the Royal Horticultural Society. Educational programme5 are run for pupi15 of local schools. In the winter art and wreath making workshops are held. The Tearoom serves lunches nd teas to visitors. The Trustees have regard to the guidance on public benofit IssuÈd by t+Té Ch3rity Ccsmmigsion, whilè planninÉ the activities for thè year at their Trustee meetings. Great Comp benefits from Volunteers who asslst with gardenlng and typically devote a half day of time a week. ACHIEVEMENTS AND PERFORMANCE 2023 was the 55th year that the garden has been open to the public. Throughout the 2023 season we welcomed 23.951 visits to the garden. The weather was challenging throughout the year. with early frosts, and the wettest March or¥ record since 1981. Despite these difficulties we were very pleased to See an overall annual increase of +2% in footfall compared with the previous year. PAGE 3 GREAT COMP REPORT OF THE TRUSTEES Icontinuedl FOR THE YEAR ENDED 31 OCTOBER 2023 ACHIEVEMENTS AND PERFORMANCE (continued) We13unched the season with a new life membership option for our visitors, and a ftsll schedule of events, including Snowdrop Sensation. Spring Fling, The Great Comp Summer Show and a new Autumn event entitled 'BL51b5'n' Things,. The garden was maintained throughout 2023 with 8 limited garden workforce. There were considerable winter losses amongst our Salvla collection. The combination of a long dry summer in 2022 followed by a wet and mild èutumn resulted in a huge flush of soft re-growth. This followed by severe and prolonged frost before Christmas caused widespread damage. Through resilience and dedication, we replaced the lost Salvias, witnessing their flourlshing by 5ea50n'5 end, a testament to our commitment to maintaining the garden's splendo*Jr. In early 2023 we completed extensive renovation works to the roof of both Great Comp House, The Old Dairy Tearoom and extensive internal and extern31 renov3tlOll5 to Great Comp Cottage. This ha5 helped to safeguard the 17th cefitury manor house for the next 100 years, and the new tearoom roof has significantly improved the inside temperature and ambiance, and provides much needed natural light into this space, making it more versatile and usable throughout the Veèr. The Cottage, previously occupied by one of Great Comp'5 gardeners for 17 years and vacant since 2016 was finally let to private tenants in February, and will now bring In additional income to 5UPPOrt the charity. I February 2023 we were 3waided a £23,000 grant and £77,000 loan from the Kent Community Foundation in order to cover some of the costs to renovate the roofs. Despite maintaining our footfall, the general economic climate in 2023 remained volatile and the 'cost of living cris15' Impacted visitor spend in the tearoom. July was the lirst month that the tearoom income matched that of 2022, however the number of till transactions increased overall cornpared to 2022 indicating that behaviour5 changed and visitors chose lÈss experisive refreshment options. We made efforts to reach a wider community, and support local residents by joining the Chatty Café scheme, encouraging visitors to our tearoom every Mgnday to meet new people and help to combat loneliness. In September 2023, our garden w35 showcased on B8C G3rdener5' World, spotlighting our extefisive S8lvia collection and featuring an insightful interview wrth our Curator WilliBm Dy50n. This natson31 recognition reaffirms our position as a beacon of horttcultural excellence. As we reflect on the milestones and challenges of 2023, we extend our heartfelt gratitude to our loyal visitors, dedicated staff, supportive communitv. FINANCIAL REVIEW Income exceeded expenditure by £74,016. There were net gains on investments of £1,113 and the charity's total funds increased by E75,129. Total funds on 31, October 2023 were £3,090.876. PAGE 4 GREAT COMP REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31 ocfoBER 2023 INVESTMENT SELECTION POLICY The charivs investments were mènèged on 3 discretlDn&ry basis by Evelyn Partners Investment Management LLP, but all investments had been sold by 31 October 2023. RISK MANAGEMENT The charity maintains a risk register which is reviewed regularly by management and trustees. STRUCTURE, GOVERNANCE AND MANAGEMENT GOVERNING DOCUMENT The charity is a charitable incorporated organi5ation ICIOI. It was incorporated on 9th June 2020 with a constitution in the standard CIO form of the Charity Commission. TRUSTEE SELECTION METHOD Trustees are appointed by the existing trustees. There must be at least three and not more than twelve trustees. MANAGEMENT The charity is managed by 3 management team led by the Curator. REFERENCE AND ADMINSTRATIVE DETAILS CHARITY NAME Great Comp CHARITY COMMISSION REGISTERED NUMBER 1189847 CHARITY'S PRINCIPAL ADDRESS Great Comp, Comp Lane, Platt, Sevenoaks. Kent TNIS 8QS NAMESOFTRUSTEES WHO AcfED DURINGTHE PERIOD David Chesover Ichairl Nigel Britten Amanda Cottrell OBE Andy G3rland Susan Chandler (appointed 18/02120241 Peter Knapton (resigned 25108120231 PAGE 5 GREAT COMP REPORT OF THE TRUSTEES {continued} FOR THE YEAR ENDED 31 OCTOBER 2023 SIGNATURE AND DECLARATION The Truste Signed o 5 declare that they have approved the Trustees, report above. half of the charity's Trustee5'. Signature DAVID CHESOVER Full Name Position NIGEL BRIThEN TRUSTEE CHAIR Date PAGE 6 GREAT COMP INDEPENDENT EXAMINER'S REPORT Report to the trustees of Great Comp on the accounts of the Charitable Incorporated OrEanisation Icharity number 11898471 for the year ended 31 October 2023, whlch are set out on pa8es 7 to 17. I report to the trustees on my examination of the accounts of the above charity l Great Comp'l ftsr the year ended 31 ottober 2023. RESPONSIBILITIES AND BASIS OF REPORT As the charitV'5 trustees, you are responsible for the preparation of the accounts ir* accordance with the requirement5 of the Charities Act 20111"the ACY'I. I report in respect of my examination of Great Comp's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Chèrity Commi55ion under section 1451Sllbl of the Act. INDEPENDENT EXAMINER'S STATEMENT The charity's 8r05s income exceeded £250,000 and l am qualified to undertake the examination by belng a qualified member of the ICAEW. I have completed my examination, I confirm that no material matters have come to my attention In connection with the examination which give5 me cause to believe that in. any material respert.. the accounting records were not kept in accordance with section 130 of the Charities Act,. or the accounts did not accord with the accountlng records,. or the a¢¢ounts did not comply with the applicable requirements concerning the form and content of acco*Jnts set out in the Charities (Accounts and Reportsl Regulations 2008 other than any requirement that the accounts give a 'true and fair, view which Is not a matter considered as part of an independent examination. I have no concerns and have come acrLFss no other matter5 In connection with the examination to which attention should be drawn in thls report in order to enable a proper understanding of the accounts to be reached. A-M Johnstone ACA l & F Accountancy Limited Chartered Accountants 15tation Court 8oroLigh Green Sevenoaks, Kent TN15 8AD Date PAGE 7 GREAT COMP STATÉMENT OF FINANCIAL AcfiviTIES FOR THEYEAR ENDED 31 OCTOBER 2023 Note 2023 Restrirted income funds 2022 Unrestricted Funds Prlor year funds Tot31 funds INCOMING RESOURCES Income and endowments from- Doriations and legacies Charitable activities Other tr3ding activities Investments Other TOTAL 74.703 141,393 159,628 55,802 74,703 141,393 159,628 55,802 10.4S6 119,727 177,130 45,237 67 352,617 431.526 431,526 RESOURCES EXPENDED Expenditure on- Raising fund5 Charitable activities Other TOTAL 176,851 171,206 9,453 357,510 176,851 171,206 9,453 357,510 183,298 159.715 6,585 349,598 NET INCoMEIIEXPEND￿uREl BEFORE INVESTMENT GAINSIILOSSESI 74.016 74,016 3.019 Net gain51llossesl on investtnents 1,651 1,651 142,9391 NET INCOMEIIEXPENDITUREI 75,667 75,667 139,9201 OTHER RECOGNISED GAINSIIIOS5ESI Other gains/llossesl 15381 15381 NET MOVEMÈNT IN FUNDS YS,129 75,129 139.9201 RECONCILIATION OF FUNDS Total funds broughtforward TransfeT between funds 13 13 3,013,747 2,000 3,015,747 3,055,667 TOTAL FUNDS CARRIED FORWARD 3,088,876 2,000 3.090,876 3,015,747 GREAT COMP PAGE 8 BALANCE SHEET AS AT 31 OCTOBER 2023 Note 2023 Restricted income funds 20 Unrestricted FE%nds Prior year Total funds funds FIXED A55ETS Tangible asset5 Investments Total fixed assets 2,292,895 717,563 3.010,458 2.292.895 717,563 3,010.458 2,136,622 805,429 2,942,051 CURRENT ASSETS Debtors Investments Cash at bank and in hand Total current assets io 17,056 17,056 7.369 2,177 131,558 141,104 li 150,574 167,630 2,000 2,000 152,574 169,630 CREDITORS.. amounts falling due within one year 12 37,879 37,879 67.408 NET CURRENT ASSET5 129,751 2.000 131,751 73,696 TOTAL ASSETS LESS CURRENT LIABILITES 3.140,209 3.142.209 3,015,747 CREDITORS: amounts falllng due after one year 12 51,333 51,333 TOTAL NET ASSETS 3,088.876 2,000 3,090,876 3.015,747 FUNDS OF THE CHARITY RESTRICTED INCOME FUNDS UNRESTRICTED FUNDS REVALUATION RESERVE 14 2,000 2,000 1,837,293 1,251,583 2,000 1,762,164 1.251,583 14 14 1,837,293 1,251,583 TOTAL FUNDS 3,088.876 2,000 3,090,876 3,015,747 Signed by one or two trustees on behalf of all the tru5tees.' Slg Print name: Date of approval Idd/mm/yvvyl: DAVID CHESOVER NIGEL BRITTEN GREAT COMP NOTES TO THE ACCOUNTSYEAR ENDED 31 OCTOBER 2023 1. BASIS OF PREPARATION PAGE 9 1.1 BASIS OF ACCOUNTING These accounts have been prepared under the historical cost convention with items re￿gnised at C05t or trènsèction value unles5 Otherwise stated in the ielevont notel51 to these accounts. The accoynts have been prepared in accordance with.. the Statement ol Recommended Practice.. AccountirTrg and Reporting by Charities preparing their atcounts accordance with the Financial Reporting Standard applicable ix the UK and Republic of Ireland IFRS 1021 issued on 16 july 2014 and with the Charities Act 2011 2. ACCOUNTING POLICIES 2.1 INCOME Recognttion of income These are included in the State￿ent of Financial Activities ISOFAI when.. the charity becomes entitled to the resources. it is more likely than not that the trustees will r@ceive the resources., an the monetary value can be measured with sulfici&nt reliability. Off5ettlng There has been no offsetting of assets and liabilities, or income and expenses, unless reouired or permitted by the FRS 102 SORP or FRS 102. Grants and dttnations Gr3nts and donations are only included in the SOFA when the general income recognition criteria are met15.10 to 5.12 FRS102 SORPI. Tax re¢lalms on donat10$7s and glfts Gift Aid receivable is includpd in income when there is a v31id declèration from the donor. Any Gift Aid amount recovered on a donation 15 CQn51dered to be part ol that gift and is treated as an addition to the $3me fund as the init131 donètion unless the donor or the terms of the appèal h3ve specified otherwise. Support Costs Thè charity has incurrèd •xp•Dditur• 4¥ppurt ry5Ct<. Volunteer help The value of any voluntary help received is not included in the accounts but is described the trustees, annual report. Income trom interest, royalt*es and dlvidends This is induded in the accounts when receipt 15 probable and the amount receivable c3n be measured Investment galns and losses This includes 3ny realised or unreali5ed gains or losses on the sale of investments and any galn or loss resulting from revaluin8 investments to market value at the end of the year. GREAT COMP NOTES TO THE ACCOUNTSYEAR ENDED 31 OCTOBER 2023 PAGE 10 2.2 EXPENDITUAE AND LIABILITIES Liability recognltitsn Liabilities are recognised where it is MO￿ likely than not that there is a legal orconstructNe obligation committiFtg the charity to pèy out resource5 and the 8mount o* the obligation can be me3sured with reasonable certainty. Governance and support costs Support costs have been èllocated between governance costs ènd other support. Governance costs comprise all costs involving public accountability of the charity and It5 tompliènce with regulation and good practice. Support costs include central functions and have been 311ocated to activity cost categories on a basis consistent with the use of resources. Creditois The charity has creditor5 which are measured at settlement amounts less any trade discounts. Basic financlal Instrumènts The charity accounts for basic financial instruments on initial recognition as per para8rèph 11.7 FAS102 SORP. Subsequent measurement is as per paragraphs 11.17 to 11.19. FR5102 SORP. 2.3 ASSETS Tan8lble fixed assets for use by charity - These are capitalised If they can be used for more than one year, and cost at least £300. They are valued at cost, with the exception ol the land and buildin85 which are shown at valkjation. The depreciètion rate5 and methods used are disc105ed in note 8.2. Invèstments Fixed asset investments in quoteLI shares, traded bonds and similar investments are valued ar inltially at cost and Subsequently at fair value Itheir market value) at the year end. The same treatment is applied 10 unlisted irFvestments unless fair value cannot be m*asurÈd reliably in which case it Is measured at cost le55 impairment. Investments held lor resale or pendlng their sale and cash and cèsh equivalents with a maturity date of less than l year are treated as cur￿nt asset investments. Debtors Debtors (including trade debtors and loans receivable) are measured on initial recog￿lt10n at settlement amount after any trade discounts or amount advanced by the charity. Subsequentw. they ère rneasured at the cash or other consideration expected to be received. Cuftent asset investment5 The charity has investments which it hold5 lor resale or pending their sèle Bnd c35h and tash equNèlents with B maturity date less than one year. These include cash on deposlt and cB5h eqyivalents with a maturity date of le5S than one year held for investment purposes rather than to meet short ￿rM cash commitments as they fall due. They are valued at fair value except Whe￿ they Qualify as basic financial instrument5. GREAT COMP NOTES TO THE ACCOUNTSYEAR ENDED 31 OCTOBER 2023 PAGE 11 3. ANALYSIS OF INCOME VnTestricted fvnds Re￿lIcted Income funds Total fund5 Prior year lunds Donations and legacies.. Donations and gifts Gilt Aid General grants provlded by governmentlother chèrities Totsl 54,480 20,223 54,480 20,223 2,767 5.689 2,000 10,456 74.703 74,703 Charitable act4Vitles: Entrance fees 141,393 141,393 141,393 141.393 119,727 119,727 Total OthertradlnE actNltses.' Tearoom Special events Guide books 146,866 11,850 912 159,628 146.866 11,850 912 159,628 168,003 8,228 899 177,130 Total Incorne from investments.. IFFterest income Dividend income Rental and leasin8 incorHe Total 429 348 55,025 55,802 429 348 5S,025 55.81)2 73 4,765 40,399 45,237 other: Other Covid-19 related grants Total 67 67 TQTAI INCOME 431,526 431,5Z6 352,617 other information.. All income in the prioryear was unrestricted except for General grants in the amount of £2,0(K). GREAT COMP NOTES TO THE ACCOUNTSYEAR ENDED 31 OCTOBER 2023 PAGE 12 4. ANALYSIS OF EXPENOITURE Vnrestiicted funds Restricted Income lunds P¥Èor year funds Total ft¢nds Expenditure on Taisin£ funds.. Incurred 5eekingErantS Staging fundraising events Advertising, marketin6, direct mail and publicity Tearoom running costs Investment mana8ement Costs Rent collection, property repairs and ainten3nce charges Total 6,214 6,214 4,474 9,614 145,527 213 9,614 145,527 213 15,134 147,101 2,168 15,283 176.851 15,283 176,851 14,421 IB3,298 Expendliure on charitable activities.. Wages and labour costs Garden expenses Utilities, telephone, postage, stationery, insurance ènd suni5ry Legal and professional lees Depreciation 122,373 10.498 122,373 10,498 134.066 7,144 32,711 4.568 1,056 171,206 32,711 4,568 1,056 171,206 8,242 9.005 1,258 159,715 Total Other: Bank and credit card charges Sundry 8,999 454 9.453 8,999 454 9,453 3,699 2.886 6.585 Ttrtal TOTAL EXPENDITURE IS7,510 357.510 349,598 Other Information.. All @xpenditur2 In the prior yearwas unre5trlcted. Analysls of expendlture on charltable actlvities Artivityes undertakeTh dlrertlv Activity or programme Totalprior year Support Costs Total this year Other 165,248 165248 5,9S8 5,958 171,206 171,206 159,715 159,715 Total Prior year expendituie on charitable acilvltles ran be analysed a5 follows.. Other-. Activities undertaken directly £151,614, support costs £8,101, total £159,715. GREATCOMP NOTES TO THE ACCOUNTS YEAR ENDED 31 OCTOBER 2023 PAGE 13 5. SUPPOAT COSTS This year Chayitable Other tradFn8 activities Basis of allocatlon Support cost Grand total Govemance 2,798 2,798 3,160 3,160 5,958 S,9S8 See below Total Last year Charitable activities Other trading attivities Basis of allocation Support cost Grand total Governance 4,318 4,318 3,783 3,783 8,101 8,101 See below Total Apportionment of tosts between activities: On the basis of rnateriality, support Costs are split between the main activities, Charitsble and Other Trading Activities. S. DETAILS OF CERTAlhl ITEMS OF EXPENDITURE 5.1 Fees for exarninatlon of the a¢couttts This year Last year Independent examiner's fees 1,759 1,675 6. PAID £MPLOYEES Thos year Lastyear 6.1 ststf costs 5318ries and w3ges Social security costs Pension c05t5 (defined contribEtrtion schemel Total staff costs 190.459 8.373 5,213 204,045 182.573 10,900 5,336 198,809 There were no 5t3fl working for the charity whose contrècts were with 3nd We￿ paid by a related partv. No employees received employee benefits (excluding employer pension costs) forthe reportin8 period of more than £60,000. 6.2 Average head count tn the year This year Number Last year Number The parts of the chèrity in which the employees work.. Fyndrai5in8 Charitable Activities Governance Other 13 12 GREAT COMP NOTES TO THE ACCOUNTS YEAR ENDED 31 ocfoBER 2023 PA 7. DEFINED CONTRIBUTION PENSION SCHEME This year Last year Amount of contributions reco8rFised in the SOFA 85 an expense.. 5,213 5,336 Please explain the basis for allocating th& liability and expense of All attributed ro unrestricted funds and defined contribution pension scheme between activities and between charitable activities on the basis ol materiality restricted athd unrestr1c￿d funds.. and the area employees work in. 8. TANGIBLE FIXED ASSETS Freehold land & bulldings Plant afjd m3¢hinery Fixtures. fittlngs and equlpmeni Totsl 8.1 Cost or valuatioft At beginning of year Additions Disposals Net gain/l10s51 oft revaluation At end of year 2,133,823 157,329 43,042 39,850 2,216.715 157,329 2,291,152 43.042 39,850 2,374.044 8.2 Depreciation and ImpalrmÈnt5 Rète Straight line Straight line 20-25% At beginning of year Depreciation Disposals Impairment At end of year 41.390 38,703 573 80,093 1.056 41A73 39,276 81.149 8.3 Net book value Net book value at the end of the year 2.291,152 1,169 574 2,292,895 Net book value at the beginning of the year 2,133,823 1,652 1,147 2.136,622 8.4 Revaluation the freehold land and buildings were valued on 8 August 2017 at £1.775,000. The Trustees consid@r this value 15 not materially different from the arnount they would have been v3lued at on the transfer of the asser5 from Great Comp Charitable Trust. the independent valuer wès Lambert & Foster, Charrered SLtrrveyors, the property wa5 valued using the comp3rable method, taking into account the condition of the buildings and the existing tefiancies. GREAT COMP NOTES TO THE ACCOUNTS YEAR ENDED 31 OCTOBER 2023 9. INVESTMENT A55ETS PAGE I 9.1 FvAed asset investments 5ted investmetr Investment properties Totsl Carrying Ifairl value at beginning ol period Add.. addition5 to investment5 during period Less.. disposals at carrying value Le5s.' impairments Add.. Reversal of impairments Addlldeductl.. net gain/llossl on revaluètion Carryin8 Ilairl value at end o* year 87,866 6,521 196,0391 717.563 805.429 6,521 196,0391 1,652 1,652 717,563 717,563 Ple&se note that Fair Value in this context is the amount for whlch an asset could be exchanged between knowlegable and willing parties in an arm's length transaction. For traded securities, the fair value is the value of the security quoted on the London Stock Exchange Daily Official List or equivalent. For other assets where there Is no market price on a traded market, it is the trustees, orvaluers, best estimate of fair value. 9.2 Analys￿ o* Invesments Thi5 year Fair value at period end Ctsst less Irnpaliment 5ted investrnentS Investment properties Total 717,563 717,563 Grand total (Falr value at yeèr-eftd + Cost less impairment) 717,563 last year Fair value at period end Cost less Impairment Listed investments Investment properties Total 87,866 717,563 805,429 Grand totsl (Faif valve at yeai-end + Cost less impairment) 805,429 9.3 lovestment propertie5 lil The property was valued using the comparable method, taking into actount the condition of the buildings and the existing tenències, on 8 August 2017. The Trustees consider this value is not materially different from rhe amount It would have beefi valued ot on the transfer of the assets to Great Comp CIO. lill The independ&nt VBluer was tambert & F05ter, Chartered Surveyors. liiil The investment property formed part of the Great Comp Charitable Trust prior to the tr3nsfer to Great Comp CIO. livl There are no contractual obligations for the repa*rs and maintenance of the Investment property. but the Trustee5 were responsible for maintaining the Trust properties. GREAT COMP NOTES TO THE ACCOUNTS YEAR ENDED 31 OCTOBER 2023 9.4 Current asset investments PAGE 16 Analysis of current asset investments This year Last ypar Cash or c3sh Èquivalents Totsl 2.177 2,177 9.5 Addltlonal Informatton The investments prowded income which allowed the Trustees to c&rry out the objects of the charitv. 10. DEBTOR5 AND PREPAYfrAENTS 10.1 Analysis of debtors Thls year Last year Trade debtors Prepayment5 and accrued income Other debtors 1,369 15,687 15 7,354 Total 17,056 7,369 11. CASH AT BANK AND Iht HAND ThÉs year last ￿ar Cash at bank and on hand Totsl 152,574 152.574 131,558 131,558 12. CREDITORS Arnounts fzlllng due within one year- Loan Accruals and deferred income T3xation and social 5ecurlty Total Thls year Last year 15,400 9,679 12,800 37,879 30,0(X) 33,073 4,335 67,408 Amounts falling due after onè yea¥: Total 51,333 Sl333 GR£ATCOMP NOTES TO THE ACCOUNTSYEAR ENDED 31 OCTOBER 20Z3 PAGE 17 13. CHARITY FLINDS 13.1 Dets115 of matertal fvnds held and movements dur4ng the CURRENT reportlnB perlod Revaluation Fund Thame Fund balènces brought forward Income Expenditure Transfer between funds Gains and 105se5 balances carr4ed forward reserve Uniestricted 1,762,164 431,526 1357,5101 Restricted 2.000 Total funds 3,015,747 431,526 1357,5101 1,251,583 1,113 1,837,293 1,113 3,090,876 1,251,583 2,000 13.2 Detsils of matellal funds held movements durlnz the PREVIOUS reportÈng period Revaluatlon Fund name Fund balances brought fDnward Income Expenditure Trènsfer between funds Gains and losses Fund balances carried forward reSe￿e Unrestricted 1,804,084 350,617 1349,5981 Restricle(I Total lunds 3,055,667 352,617 1349,5981 1,251,583 2.000 142,9391 1,762,164 142,9391 3,015,747 1,251,583 2,ODO The Restricted Funds are made up of Grants received and the related expenditure. 14. fRANSACTIONS WITH TRUSTEES AND RELATED PARTIES 14.1 Tlustee remuneration and benefits None of the trustees have been paid any remuneration or re￿iVed any other berEefit5 from an employment with their charity or a related entity. This Is the case lor both thls yèar and last year. 14.2 Trustee5' expenses No trustee expenses have been incurred, this year or last year. ## **FY22/23 (year ending 31.10.23)** ## **ACHIEVEMENTS AND PERFORMANCE** 2023 was the 55th year that the garden has been open to the public. Throughout the 2023 season we welcomed 23,951 visits to the garden. The weather was challenging throughout the year, with early frosts, and the wettest March on record since 1981. Despite these difficulties we were very pleased to see an overall annual increase of +2% in footfall compared with the previous year. We launched the season with a new life membership option for our visitors, and a full schedule of events, including Snowdrop Sensation, Spring Fling, The Great Comp Summer Show and a new Autumn event entitled ‘Bulbs ‘n’ Things’. The garden was maintained throughout 2023 with a limited garden workforce. There were considerable winter losses amongst our Salvia collection. The combination of a long dry summer in 2022 followed by a wet and mild autumn resulted in a huge flush of soft re-growth. This followed by severe and prolonged frost before Christmas caused widespread damage. Through resilience and dedication, we replaced the lost Salvias, witnessing their flourishing by season's end, a testament to our commitment to maintaining the garden's splendour. In early 2023 we completed extensive renovation works to the roof of both Great Comp House, The Old Dairy Tearoom and extensive internal and external renovations to Great Comp Cottage. This has helped to safeguard the 17th century manor house for the next 100 years, and the new tearoom roof has significantly improved the inside temperature and ambiance, and provides much needed natural light into this space, making it more versatile and usable throughout the year. The Cottage, previously occupied by one of Great Comp’s gardeners for 17 years and vacant since 2016 was finally let to private tenants in February, and will now bring in additional income to support the charity. In February 2023 we were awarded a £23,000 grant and £77,000 loan from the **Kent Community Foundation** in order to cover some of the costs to renovate the roofs. Despite maintaining our footfall, the general economic climate in 2023 remained volatile and the ‘cost of living crisis’ impacted visitor spend in the tearoom. July was the first month that the tearoom income matched that of 2022, however the number of till transactions increased overall compared to 2022 indicating that behaviours changed and visitors chose less expensive refreshment options. We made efforts to reach a wider community, and support local residents by joining the Chatty Café scheme, encouraging visitors to our tearoom every Monday to meet new people and help to combat loneliness. In September 2023, our garden was showcased on BBC Gardeners' World, spotlighting our extensive Salvia collection and featuring an insightful interview with our Curator William Dyson. This national recognition reaffirms our position as a beacon of horticultural excellence. As we reflect on the milestones and challenges of 2023, we extend our heartfelt gratitude to our loyal visitors, dedicated staff, and supportive community. PAGE 6 GPfAT COMP INDEPENDENT EXAM114ER'5 REPORT rieport tothelfusteesof Great Comp on the Ktounts of the Charitable Ihcorporated Ofganlsatlon (Charlty number 11898471 lorthe yeai ended 31 ottober 2023. whith are 5etout page5 7t0 17. I iepgrtto the trusteps Dn my examination of the aLtounts of theabove charity l Greèt thmp'lfor the year endeLI 31 October 2023. IIESIIONSIBIUTIES APIts BASISOF REPORT Asthe charity'5 tru5teesy you are re5pon51ble for theP￿ParatlQfi of the accounts in aciordance with the requlrementsofthÈ CharitlesAct 20111.the Acfl. I report in ￿9P￿tt0f myexaminatlon of GreJtComp's èCCOUDt5 ¢arried out under section 145 of the 2011 Act and In carrying ttut my eKaminatM)n, I havefoll¢wed 311 the applicab￿ Directions given by the Charity ComThi$5ion under5ecDon 145ISllbl ofthe Act. IVIDEPENDENI EKAMINER'SSTATEM£NT The charity'5gr05sincome exceeded £2SO,000 and l am qualffjiedto urdertake thE examination bybeinz qualified mèmbor of the ICAEW. I have completÈd my examinatiDn. I confirm that mathrial matters have come to myattention In connecti￿) wrch the examin4tion which give5 me tauseto believe that in. any mèterial re5ped.' th2 attountiDgrecords were not kepr InaccOrdan￿ with seCtiOTr 130 Df the Charitie5 Art,- or thÈ accounts did not accord with rhe Iiiounting records-. or the atcounts did notc¢mpty wlth the appli¢ab1e requirementsconcernin8 the form and content of accounts set out In the Charities IAcEounts and Reports) Regulation$ 2008 otherthan any requirernEllt thai the 8cwunts give a'true and fai¢ v1ew walch is noi a mattèr consideied 35 Part of an independent examination. I have no concern5 and have come 4cross no other rnatters connectlDrt wlth the examlnètloD to whlch attenrion should be drawn in this report in ordèrto enable a proper under5tsndingof the accountsto be reached. A-MJohnsioneACA l & F Accoufttancy ￿mited Chartered AccountJnt5 Iststlon Court Date eoroughGreen Sevenoaks, Kent TNI5 8AD