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2021-08-31-accounts

Charity Registration No. 207478

ALPINE GARDEN SOCIETY

TRUSTEES' CONSOLIDATED ANNUAL REPORT AND ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2021

ALPINE GARDEN SOCIETY

LEGAL AND ADMINISTRATIVE INFORMATION

Custodian holding trustees Professor J E Good, OBE Dr L Joyce Mrs J Ryan

Trustees Mr R Amos (Resigned 14 November 2020)
Mr C Bailes (Appointed 11 November 2017 -
Officer)
Dr A Cooper (Resigned 14 November 2020)
Professor J W Galloway (Appointed 12 November 2011 -
Officer)
Mr D Morris (Appointed 11 November 2017)
Mr M Rogerson (Appointed 12 November 2016 -
Officer)
Mr J Webster (Appointed 17 November 2018)
Mr D Haselgrove (Appointed 27 April 2019)
Mr D Mountfort (Appointed 16 November 2019)
Mrs G Devries (Appointed 16 November 2019)
Mrs C Sawyer (Appointed 16 November 2019)
Mrs D Clement (Appointed 14 November 2020)
Mr P Cook (Appointed 14 November 2020)
President Mr C Bailes
Treasurer Professor J W Galloway
Director Mr A M Bryan (Appointed 20/01/2020)
Charity number 207478
Principal address AGS Centre
Avon Bank
Pershore
Worcestershire
WR10 3JP
Auditor Kendall Wadley LLP
Merevale House
27 Sansome Walk
Worcester
WR1 1NU
Bankers HSBC
PO Box 4
6 Broad Street
Worcester
WR1 2EJ

ALPINE GARDEN SOCIETY

CONTENTS

Page
Trustees' report 1 - 7
Statement of trustees' responsibilities 8
Independent auditor's report 9 - 11
Consolidated statement of financial activities 12 - 13
Consolidated balance sheet 14
Charity statement of financial activities 15 - 16
Charity balance sheet 17
Consolidated statement of cash flows 18
Notes to the accounts 19 - 39

ALPINE GARDEN SOCIETY

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 AUGUST 2021

The trustees present their report and financial statements for the year ended 31 August 2021.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Society's Constitution, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Objectives and activities

The objects are set out in Clause 3 of the Constitution, namely to:

Educate the public and its members about the cultivation and conservation of alpine plants.

This will include:

ALPINE GARDEN SOCIETY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

Activities that provide a Public Benefit

In 2018 the Society awarded a grant of £30,000 for a conservation project concerned with montane flora in the English Lake District. The aim of the project which is still running is to preserve and rejuvenate existing habitat within a specific area as well as re-colonization of the area with native plants. Work has continued throughout this year and the site is producing good results. Society members are actively involved in the propagation and re-planting of native species. Further work will include creation of pathways and information boards for visitors. All such activities are aimed at raising awareness of alpine plants and highlighting the importance of conservation of habitats and threatened plant populations.

The charity had planned to hold 22 alpine plant shows at venues around the UK and one in Ireland. These shows are open to the public and in addition to a large competitive display of alpine plants some shows also feature practical demonstrations and lectures. The aim is to raise public awareness of alpine garden plants and to provide free information on how to cultivate these plants. A number of other smaller demonstrations and talks were to be given at venues around the UK. Unfortunately, the lockdown due to COVID 19 happened after only two shows had taken place, with one of these shows being a new venue at RHS Hyde Hall the remaining 20 shows were all cancelled. This was not only a loss of income of the local groups and the Society but also a big loss of social engagement between members.

The Society produces a set of 12 'Easy Leaflets' with information on alpine plants and how to grow them. These are freely available at our public events and are also distributed through local groups and some alpine nurseries.

The now updated and improved Society website is a repository for approximately 54,000 plant images and also contains information on plants at shows, as well as a series of gardening diaries/blogs. This information is openly accessible, together with access to the on-line 'Encyclopaedia of Alpines'. The Society’s ‘on-line flower show’ initiative continues to be a popular feature on our website and again is open to public viewing as is our Photographic competition.

AGS Expeditions Ltd runs a number of tours to different locations around the world. Each tour is accompanied by an expert botanist to help identify plants. These tours have an educational aspect and a number of subsidised places/travel grants are made available to those working in horticulture/trainees/ students etc, to help them improve their knowledge of alpine plants and habitats. Our tours are open to the public but they are required to become a member of the Society before joining a trip. The number of tours operated each year varies depending on demand and destinations offered. Unfortunately no tours took place this year due to the pandemic, this resulted in students who had applied for a grant to travel being put on hold or cancelled until the situation improves.

AGS Publications Ltd trade was hampered considerably as a result of not being able to attend shows or other events this year, this impacted greatly on its financial performance. The Society publishes a number of its own titles through AGS Publications Ltd. These books are both educational and informative on subjects that may not otherwise be published by commercial booksellers. This helps to spread knowledge about a wide range of alpine plants and bulbs. The Society considers it part of its charitable objectives to make such information available to a wider audience and publication of such titles helps to achieve this.

Redevelopment of the Society’s garden at Pershore is on-going and a replacement alpine house began construction during 2018. Further work has continued during 2 020/21 concentrating on the interior construction and the planting of raised beds is now complete . A water collection tank was installed to collect run-off water from the alpine house and adjacent office buildings. This is for the irrigation of the gardens, thereby helping to reduce the demand on water supplies. The new alpine house will enhance the visitor experience by enabling a wider display of different types of alpine plants. The garden offers free access to visitors and is also used as a teaching resource for horticultural students.

The Society was unable to continue with our educational one-day events and conferences that are open to the public due to the continued pandemic. These events would include a weekend conference, and Bulb Day featuring a variety of guest speakers, both from home and overseas.

ALPINE GARDEN SOCIETY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Society should undertake and ensuring that it provides benefit to the public.

Achievements and performance

The charity has continued to produce its highly respected quarterly Journal and the Editor is constantly seeking new articles with a broad appeal that will be of interest to all members, both beginners and those with more in-depth plant knowledge. The Board believes that the Journal should aim to be accessible but at the same time retain its reputation as a prestigious publication.

The Society’s seed exchange scheme, one of the largest of its type in the world has continued during the pandemic to distribute seed to a large proportion of the membership . Sadly we had to change our usual procedures as Covid regulations did not allow our usual large number of volunteers to work together in one room, leading us to reduce the quantity of packets handled at seed reception and distribution. At the same time, overseas regulations reached a complex stage. The combination of new EU rules on seed importation, plus uncertainties concerning Brexit added to the difficulties we confronted in trying to run an international seed exchange. These factors led us to the decision that we could only offer a seed exchange to UK members in 2021.

The Society website now offers the facility for members to join and renew their membership on-line, make conference bookings and to purchase specialist books. Work has continued on the new website incorporating a total re-design, a new membership database, plus enhanced payment facilities and other new features. The Trustee Board see this as an important step to helping safeguard the future of the Society. The re-design of the site has been informed by appropriate qualitative and quantitative research, both with members and nonmembers interested in plants and gardening. Work on this project has been funded from the Society’s investments and includes funds to expand and update plant information contained in the on-line Encyclopaedia of Alpines. This major resource is freely available to members and the general public. Expenditure on such developmental projects may be spread across more than one financial year.

ALPINE GARDEN SOCIETY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

A series of travel awards and grants would normally be awarded to individuals for projects to further the study of alpine plants. Each year these enable a number of trainee horticulturists to travel to various parts of the world to extend their plant knowledge. Trophies and awards w ould also be presented to individuals in recognition of their contribution to the world of alpine plants. The pandemic greatly impacted on all of these, resulting in only two travel awards and trophies being able to be presented this year.

A 2018 initiative was the funding by the Society of a full-time one-year horticultural training placement at the Royal Botanic Gardens Edinburgh. It offered someone a unique opportunity to further their knowledge and pursue a horticultural career working with alpine plants. The scheme was funded for a second year in 2019 and another trainee appointment made. After a gap of one year due to COVID we arranged a Horticultural placement with RHS Harlow Carr and RBGE, this placement commended in August of 2021.

Recruitment of new members has been severely hindered by COVID 19, this is mainly as a result in not attending shows or events, where we would normally be able to promote the Society. Net membership has again fallen , fortunately the loss this year was significantly less than in 2020. There are a number of reasons for falling memberships, the increasingly older age profile of the existing membership and the global pandemic both impact greatly on the Society. R e de velopment of the society website is regarded by the Trustee Board as a vital initiative to help attract new members. In this respect the Society has begun to implement a social media strategy and appointed a dedicated S ocial M edia Manager who also has responsibility for developing and re-writing content on our new website. We are now very engaged on all social media channels, we hold virtual lectures for our members, encourage local groups to hold virtual meetings and have dedicated members areas on Facebook. These incentives are proving very helpful in bringing members together and bring new members to the Society.

During the year the charity has benefited from the work and advice of many volunteers, without whom the charity could not meet its charitable objectives. The value of the work is unquantifiable and any attempt to estimate the numbers involved can only be an approximation. The Trustee Board wishes to recognise this valuable contribution and expresses their grateful thanks to all the volunteers who have given their time to assist the charity in its various activities during the previous twelve months.

Financial review

During the year the charitable group had incoming resources totalling £257,817 (2020 £468,698), of which £123,963 (2020 £128,542) was from membership subscriptions.

Total resources expended for the year were £403,630 (2020 £633,125), giving net outgoing (2020 - outgoing) resources (before investment gains/(losses)) of £145,813 (2020 £164,427).

There are realised gains of £13,007 (2020 - £18,031) and unrealised gains of £262,565 (2020 - losses £189,643) arising on the investment assets resulting in a increase in funds of £129,759 (2020 £336,039 decrease), leaving total reserves at £2,619,452.

Of the total funds £224,564 (2020 - £196,986) is restricted in nature, details are provided in the notes to the financial statements, a further £356,972 (2020 - £317,704) has been designated by the trustees for specific purposes, again details are provided in the notes to the financial statements.

This leaves, after allowing for intangible fixed assets and for funds that could only be realised upon the sale of tangible fixed assets £1,682,893 (2020 - £1,595,366) as free reserves for the purpose of undertaking the charitable activities.

It is the policy of the Society that unrestricted funds which have not been designated for a specific use (ie general funds) should be maintained at a level equivalent to between six and twelve month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Society’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year, the excess funds are used to advance the cultivation and conservation of alpine plants as set out in the objectives of the charity.

ALPINE GARDEN SOCIETY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

The committee have power, from time to time, after taking advice from a Member of the London Stock Exchange, to direct the holding trustees concerned to invest the funds of the Society or any part thereof in any way which, in its absolute discretion, thinks fit, in all respects as if it were a sole Beneficial Owner of such funds notwithstanding that such investments may not be investments authorised by law for the investment of funds, and the committee shall have power, from time to time, to direct the holding trustees to vary or transpose such investments.

The holding trustees may also enter into arrangements for the provision of investment management services by stockbrokers, merchant banks and/or suitably qualified investments managers (which may include power for such managers to make specific investment decisions under general policy guidelines laid down from time to time by the committee) to vary or change such arrangements and to pay reasonable charges for such services out of the Society's income.

The investments held by the AGS include UK Government Fixed Interest Bonds, UK Unit Trusts and shares in subsidiary companies.

The market value of the investments increased this year by £262,565, and is included in (losses) /gains on investment assets.

The trustees have assessed the major risks to which the Society is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Plans for the future

The charity will continue with its regular activities in pursuit of its Objectives. This will entail organi s ing shows (particularly attempting to seek out venues that will attract new visitors), tours, travel awards and grants, educational exhibits (especially at major national and regional shows), workshops, the seed exchange scheme and publication of its quarterly journal ‘The Alpine Gardener’.

The Trustee Board recognises that the Society must concentrate its efforts on attracting new members as part of its exploration of new initiatives to ensure its long-term future. The appointment of a Social Media Editor in 2018 was one such important initiative. The Society will continue to publish information on alpine plants across various social media platforms, thereby reaching a wider and, it is hoped, younger audience.

During the global pandemic the Society has needed to consider how we engage with members and the general public, the shift to a more on-line approach including on-line flower shows, virtual lectures and on-line members groups is proving extremely valuable in keeping members engaged and attracting a younger audience.

ALPINE GARDEN SOCIETY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

Structure, governance and management

The Alpine Garden Society (AGS) was founded in 1929, with the aim of promoting an interest in all aspects of alpine plants, their cultivation in rock gardens and plant conservation in natural habitats. It is a membership organisation, registered with the Charity Commission and is governed by its constitution and rules adopted 4 November 1966, as amended November 2011.

The trustees who currently serve are listed on the Legal and Administrative Information page.

The Charity's present governing body consists of 11 Trustees; 4 of these are Officers who are elected annually, serving for a potential maximum of ten years under the new Constitution adopted at the AGM in November 2011 and later amended in November 2013. Under this Constitution changes were made to the number of trustees elected annually to create a smaller governing body. The aim of this change was to enable the Society to manage its affairs more effectively. Currently there are two trustees elected each year to serve for a period of four years (8 in total), plus a President, Treasurer and up to four other officers who will also be trustees, giving a maximum number of 14 trustees. Trustee vacancies are advertised in the Society’s Newsletter that is circulated to all members, both home and overseas. Nominations are invited and the names of nominated candidates, together with supporting statements, are published in the Society Newsletter. If there are more nominations than vacancies, a vote is taken by secret ballot at the AGM. Casual vacancies that arise may be filled by co-option if it is felt to be necessary. An annual Induction Day is organized for all newly elected Trustees and Officers (they are provided with a list of Trustees’ duties and responsibilities, the Charity Commission ‘Good Trustee Guide’, Declaration of Eligibility, together with the Society’s ‘Code of Conduct’ for Trustees).

T he governing body is known as the ‘Trustee Board’ upon which all Trustees (excluding Custodian Trustees) serve. The Board is chaired by the Society's President; policy and strategy are set by the Board. The number of standing committees reporting to the Board has been reduced and the majority of Society business and that of its subsidiary trading companies is now dealt with directly by the Board. This ensures that every Trustee is fully involved in financial, decisions, budget setting and Society activities as a whole. The only remaining committee deals with the operation of the Society’s competitive shows. In addition, the Trustee Board may, from time to time, establish working parties to pursue special initiatives such as marketing, website development, educational conferences, displays and specific plant related projects.

The Society has 4 3 Affiliated Local Groups spread around the UK. Support is offered to the Groups in the form of insurance cover, stationery, publicity material, programme printing, mail shots and free hosting for their own website area. Grants may be given to assist with the cost of speakers or to help with the purchase of equipment.

Specialist Groups - T he Fritillaria Group separated from the Society at the beginning of 2020, and became an independent group. The History of Rock and Alpine gardening Group (HORAG) is open to all members of the Society.

The Charity employs two full-time staff who deal with the administration of the Charity as well as its Limited Companies. The Society employs a professional Editor who has specific responsibility for publication of the Society journal and other society publications. The Society Editor is an ex-officio member of the Trustee Board and other relevant working parties. The newly created post of web and S ocial M edia E ditor also carries ex officio membership. The Society Director also serves as an ex-officio member of the Trustee Board and any other relevant committees or working groups. The Society Director is responsible for the implementation of the policies laid down by the Board. In addition to overseeing the administration of the Charity and its subsidiary companies, he gives guidance, advice and support to Officers and Trustees on governance issues. He is also Company Secretary to the limited companies.

Related parties

The Society conducts the majority of its trading activities through two wholly owned subsidiary companies – A . G . S . Publications Limited and AGS Expeditions Limited. The management of these companies is controlled by directors, namely the President, Treasurer and any relevant officer, together with the three Society Custodian Holding Trustees who hold the shares in trust on behalf of the charity.

ALPINE GARDEN SOCIETY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

The trustees' r eport was approved by the Board of Trustees.

Mr C P Bailes

President Dated: 16 October 2021

ALPINE GARDEN SOCIETY

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 AUGUST 2021

The trustees are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the Society and of the incoming resources and application of resources of the Society for that year.

In preparing these accounts, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Society and enable them to ensure that the accounts comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ALPINE GARDEN SOCIETY

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF ALPINE GARDEN SOCIETY

Opinion

We have audited the financial statements of Alpine Garden Society (the ‘Society’) (the parent charity) and its subsidiaries (the 'group') for the year ended 31 August 2021 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Society’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

ALPINE GARDEN SOCIETY

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF ALPINE GARDEN SOCIETY

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the s tatement of trustees' r esponsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group's and parent charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to cease operations of the group or the parent charity, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below .

Extent to which the audit was considered capable of detecting irregularities including fraud

ALPINE GARDEN SOCIETY

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF ALPINE GARDEN SOCIETY

Audit response to risks identified

The information obtained through the assessment to risk procedures is reviewed and the following work undertaken:

It should be noted that Auditing standards limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: http s :// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Other matter s

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as amended) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

This has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Sarah Morley ACA (Senior Statutory Auditor)
for and on behalf of Kendall Wadley LLP 16 October 2021
Chartered Accountants
Statutory Auditor Merevale House
27 Sansome Walk
Worcester
WR1 1NU

Kendall Wadley LLP is eligible for appointment as auditor of the Society by virtue of its eligibility for appointment as auditor of a company under of section 1212 of the Companies Act 2006.

ALPINE GARDEN SOCIETY

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2021

Current financial year
Unrestricted
Restricted
funds
funds
2021
2021
Notes
£
£
Income from:
Voluntary income
3
172,326
-
Charitable activities
4
44,275
-
Investments
5
37,149
4,067
Total income
253,750
4,067
Expenditure on:
Raising funds
6
39,205
-
Charitable activities
7
360,409
4,016
Total resources expended
399,614
4,016
Net movement before investment (losses)/gains
(145,864)
51
Net (losses)/gains on investments
12
248,045
27,527
Net movement in funds
102,181
27,578
Fund balances at 1 September 2020
2,292,707
196,986
Fund balances at 31 August 2021
2,394,888
224,564		 Total
2021
£
172,326
44,275
41,216
257,817
39,205
364,425
403,630
(145,813)
275,572
129,759
2,489,693
2,619,452		 Total
2020
£
178,932
229,903
59,863
468,698
222,340
410,785
633,125
(164,427)
(171,612)
(336,039)
2,825,732
2,489,693

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

ALPINE GARDEN SOCIETY

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2021

Prior financial year

Unrestricted
Restricted
funds
funds
2020
2020
Notes
£
£
Income from:
Voluntary income
3
178,932
-
Charitable activities
4
229,903
-
Investments
5
53,739
6,124
Total income
462,574
6,124
Expenditure on:
Raising funds
6
222,340
-
Charitable activities
7
406,991
3,794
Total resources expended
629,331
3,794
Net movement in funds before investment (losses)/gains
(166,757)
2,330
Net gains on investments
12
(153,863)
(17,749)
Net movement in funds
(320,620)
(15,419)
Fund balances at 1 September 2019
2,613,327
212,405
Fund balances at 31 August 2020
2,292,707
196,986		 Total
2020
£
178,932
229,903
59,863
468,698
222,340
410,785
633,125
(164,427)
(171,612)
(336,039)
2,825,732
2,489,693

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

ALPINE GARDEN SOCIETY

CONSOLIDATED BALANCE SHEET

AS AT 31 AUGUST 2021

Notes
Fixed assets
Intangible assets
13
Tangible assets
14
Investments
15
Current assets
Stocks
17
Debtors
18
Cash at bank and in hand
Creditors: amounts falling due within
one year
19
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
21
Unrestricted funds
Designated funds
22
General unrestricted funds		 2021
£
£
37,897
326,146
2,151,158
2,515,201
32,322
26,964
80,271
139,557
(35,306)
104,251
2,619,452
224,564
356,972
2,037,916
2,394,888
2,619,452		 2020
£
£
56,845
332,222
1,965,953
2,355,020
43,723
65,826
70,291
179,840
(45,167)
134,673
2,489,693
196,986
317,704
1,975,003
2,292,707
2,489,693

The accounts were approved by the Trustees on 16 October 2021

Mr C P Bailes President

ALPINE GARDEN SOCIETY

CHARITY STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2021

Current financial year
Unrestricted
Restricted
funds
funds
Notes
£
£
Income from:
Voluntary income
3
172,326
-
Charitable activities
4
14,684
-
Investments
5
37,149
4,067
Total income
224,159
4,067
Expenditure on:
Raising funds
6
3,023
-
Charitable activities
7
355,389
4,016
Total resources expended
358,412
4,016
Net movement before investment (losses)/gains
(134,253)
51
Net (losses)/gains on investments
12
248,045
27,527
Net movement in funds
113,792
27,578
Fund balances at 1 September 2020
2,291,219
196,986
Fund balances at 31 August 2021
2,405,011
224,564		 Total
2021
£
172,326
14,684
41,216
228,226
3,023
359,405
362,428
(134,202)
275,572
141,370
2,488,205
2,629,575		 Total
2020
£
178,933
69,691
60,816
309,440
64,989
405,366
470,355
(160,915)
(171,612)
(332,527)
2,820,732
2,488,205

ALPINE GARDEN SOCIETY

CHARITY STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2021

Prior financial year
Unrestricted
Restricted
funds
funds
Notes
£
£
Income from:
Voluntary income
3
178,933
-
Charitable activities
4
69,691
-
Investments
5
54,692
6,124
Total income
303,316
6,124
Expenditure on:
Raising funds
6
64,989
-
Charitable activities
7
401,572
3,794
Total resources expended
466,561
3,794
Net movement before investment (losses)/gains
(163,245)
2,330
Net gains on investments
12
(153,863)
(17,749)
Net movement in funds
(317,108)
(15,419)
Fund Balances at 1 September 2017
2,608,327
212,405
Fund Balances at 31 August 2019
2,291,219
196,986		 Total
2018
£
178,933
69,691
60,816
309,440
64,989
405,366
470,355
(160,915)
(171,612)
(332,527)
2,820,732
2,488,205

ALPINE GARDEN SOCIETY

CHARITY BALANCE SHEET

AS AT 31 AUGUST 2021

Notes
Fixed assets
Intangible assets
13
Tangible assets
14
Investments
15
Current assets
Stocks
17
Debtors
18
Cash at bank and in hand
Creditors: amounts falling due within
one year
19
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
21
Designated funds
22
General unrestricted funds		 2021
£
£
37,897
326,146
2,151,164
2,515,207
6,262
60,576
76,713
143,551
(29,183)
114,368
2,629,575
224,564
356,972
2,048,039
2,629,575		 2020
£
£
56,845
332,222
1,965,959
2,355,026
6,685
102,414
58,465
167,564
(34,385)
133,179
2,488,205
196,986
317,704
1,973,515
2,488,205

The accounts were approved by the Trustees on 16 October 2021

Mr C P Bailes President

ALPINE GARDEN SOCIETY

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2021

2021
Notes
£
£
Cash flows from operating activities
Cash absorbed by operations
25
(124,566)
Investing activities
Purchase of investments
(1,621,720)
Proceeds on disposal of investments
1,731,355
Interest received
44,177
Net cash generated from investing
activities
153,812
Net cash used in financing activities
-
Net increase/(decrease) in cash and cash
equivalents
29,246
Cash and cash equivalents at beginning of year
70,291
Cash and cash equivalents at end of year
99,537
Relating to:
Cash at bank and in hand
80,271
Cash deposits included in fixed asset
investments
19,266		 2020
£
£
(293,683)
(38,126)
188,767
59,863
210,504
-
(83,179)
153,470
70,291
70,291
-

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

1 Accounting policies

Company information

The Alpine Garden Society (AGS) was founded in 1929, with the aim of promoting an interest in all aspects of alpine plants, their cultivation in rock gardens and plant conservation in natural habitats. It is a membership organisation, registered in England and Wales with the Charity Commission and is governed by its constitution and rules adopted 4 November 1966, as amended November 2011. The registered office is A G S Centre, Avon Bank, Pershore, Worcestershire, WR10 3JP.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Society's constitution , the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The Society is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling , which is the functional currency of the Society . Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investments at fair value. The principal accounting policies adopted are set out below.

Basis of consolidation

In the parent charity financial statements, t he cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination.

The consolidated financial statements incorporate those of Alpine Garden Society and all of its subsidiaries (ie entities that the g roup controls through its power to govern the financial and operating policies so as to obtain economic benefits).

All financial statements are made up to 31 August 2021 .

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the Society has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are those funds representing unexpended balances of donations and grants held on trust for specific purposes.

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

1 Accounting policies

(Continued)

1.4 Incoming resources

Income is recognised when the Society is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Society has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Subscriptions are accounted for net of VAT and are recognised in the accounts on a renewals basis .

Donations are accounted for gross when received.

Investment income is accounted for based on the dividends and interest receivable for the year. Sundry sales are accounted for net of VAT and are recognised at the point of sale.

Advertising income is accounted for net of VAT and is recognised at the date of publications.

Legacies are accounted for when there is reasonable certainty of entitlement to that income and the quantum can be determined with a degree of accuracy.

Tour income is accounted for in the period in which the tour is completed.

1.5 Resources expended

Costs are allocated between costs of generating funds and charitable expenditure according to the nature of the cost. Where items involve more than one category they are apportioned on the basis of staff time as appropriate.

1.6 Intangible fixed assets other than goodwill

Intangible assets represents the cost of the development of the website used by all involved in the Society.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website development

5 years straight line

1.7 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Fixed assets for charity use are capitalised at cost, where acquired or market value as determined by the trustees when donated. They are stated in the accounts at cost or valuation less depreciation.

Depreciation is calculated to write off the cost or valuation of the fixed assets, less their estimated residual value over their expected useful lives on an individual basis.

Leasehold property between 10% and 5% on a straight line basis Trophies and medals At valuation - not depreciated Fixtures & fittings 25% reducing balance Library At valuation - not depreciated Glasshouse 25 years straight line

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

1 Accounting policies

(Continued)

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.8 Impairment of fixed assets

At each reporting end date, the Society reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .

Recoverable amount is the higher of fair value less costs to sell and value in use

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in the statement of financial activities for the year.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years.

1.9 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell . Cost comprises direct materials and, where applicable those overheads that have been incurred in bringing the stocks to their present location and condition.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.10 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less .

1.11 Financial instruments

The Society has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Society 's balance sheet when the Society becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised at transaction. Financial liabilities classified as payable within one year are not amortised.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Society ’s contractual obligations expire or are discharged or cancelled.

1.12 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.13 Retirement benefits

The Society operates a defined contributions pension scheme. Contributions are charged in the accounts as they become payable in accordance with the rules of the scheme.

1.14 L ife membership

Subscriptions of life membership are included in the balance sheet as deferred income and released to the Statement of Financial Activities over 15 years.

1.15 L ease costs

Rentals payable under operating leases are charged against income on a straight line basis over the period of the lease.

2 Critical accounting estimates and judgements

In the application of the Society’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

3 Voluntary income

Unrestricted Unrestricted
funds funds
2021 2020
£ £
GROUP AND CHARITY
Donations and gifts 3,190 710
Legacies receivable 37,059 36,242
Government grants 8,114 13,438
Subscriptions 123,963 128,542
172,326 178,932

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

4 Charitable activities

GROUP AND CHARITY

GROUP AND CHARITY GROUP AND CHARITY
Advertisin
g Income -
Bulletins
£
Charitable income from activities
11,105
Trading Income
-
11,105
Analysis by fund
Unrestricted funds
11,105
11,105
For the year ended 31 August 2020
Unrestricted funds
7,423
7,423

Seed Merchand
ise
Conference
and events

£
£
£

3,105
291
183

-
-
-

3,105
291
183

3,105
291
183

3,105
291
183
12,205
246
27,197
12,205
246
27,197		 Major
exhibits
Show
donations
£
£
-
-
-
-
-
-
-
-
-
-
391
20,042
391
20,042		 Fritillaria
Group
AGS
Expeditions
AGS
Publication
s
£
£
£
-
-
-
-
-
29,591
-
-
29,591
-
-
29,591
-
-
29,591
2,187
137,498
22,714
2,187
137,498
22,714		 Total
2021
£
14,684
29,591
44,275
44,275
44,275		 Total
2020
£
69,691
160,212
229,903
229,903
229,903
11,105
3,105
11,105
3,105
11,105
3,105
7,423 12,205
7,423 12,205

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

5 Investments

6 Unrestricted Restricted
funds
funds
GROUP
£
£
Investment income
37,149
4,067
For the year ended 31 August 2020
53,739
6,124
Unrestricted Restricted
funds
funds
CHARITY
£
£
Deeds of covenant
-
-
Investment income
37,149
4,067
37,149
4,067
For the year ended 31 August 2020
54,692
6,124
Raising funds
Direct costs of activities
Seed distribution
Show expenditure
Conferences
Fritillaria Group
CHARITY
Expenditure of subsidiary companies
AGS Expeditions Limited (excluding wage & governance costs)
AGS Publications Limited (excluding wage & governance costs)
Expenditure of subsidiary companies
GROUP		 Total
2021
£
41,216
Total
2021
£
-
41,216
41,216
2021
£
1,497
1,526
-
-
3,023
5,009
31,173
36,182
39,205		 Total
2020
£
59,863
59,863
Total
2020
£
952
59,863
60,816
60,816
2020
£
7,244
20,962
34,299
2,484
64,989
133,985
23,366
157,351
222,340

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

7 Charitable activities

GROUP

Staff costs
Depreciation and amortisation
Travelling expenses
Journal
Newsletter
Awards and prizes
Headquarter garden
Promotion
Advertising
Grant funding of activities
Share of support costs (see note 9)
Share of governance costs (see note 9)
Analysis by fund
Unrestricted funds
Restricted funds
For the year ended 31 August 2020
Unrestricted funds
Restricted funds		 2021
£
127,051
25,024
-
66,557
1,956
14,403
8,931
131
4,645
248,698
-
107,414
8,313
364,425
360,409
4,016
364,425		 2020
£
151,924
25,227
1,632
64,618
2,733
11,609
7,144
478
4,792
270,157
9,157
124,050
7,421
410,785
406,991
3,794
410,785

Group g overnance costs includes payments to the auditors of £6,000 (2020- £6, 000 ) for annual audit fees and £ 795 (2020 £620) for other audit services. For the charity, governance costs includes £3,500 (2020 - £,3500) for annual audit fees.

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

7
Charitable activities
CHARITY
Staff costs
Depreciation and amortisation
Travelling expenses
Journal
Newsletter
Awards and prizes
Headquarter garden
Promotion
Advertising
Grant funding of activities
Share of support costs (see note 9)
Share of governance costs (see note 9)
Analysis by fund
Unrestricted funds
Restricted funds
For the year ended 31 August 2020
Unrestricted funds
Restricted funds
8
Grants payable
Grants to institutions:
Fritillaria Group		 (Continued)
2021
2020
£
£
126,651
150,624
25,024
25,227
-
1,633
66,557
64,618
1,956
2,733
14,403
11,609
8,931
7,144
131
478
4,645
4,792
248,298
268,858
-
9,157
107,414
123,050
3,693
4,301
359,405
405,366
355,389
4,016
359,405
401,572
3,794
405,366
2021
2020
£
£
-
9,157

The grant was paid to the Fritillaria Group upon separation from the Society.

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

9 Support costs

GROUP

Support
costs
Governance
costs
£
£
Staff costs
57,104
-
Heating, lighting, rates
and water
3,725
-
Insurance
7,908
-
Communications
2,660
-
Printing and stationery
1,233
-
Postage
2,960
-
Computer and IT costs
22,437
-
Accounts
1,070
-
Travelling
1,274
-
Maintenance to property
598
-
Miscellaneous expenses
1,888
-
Bank charges
4,190
-
Recruitment
-
-
Investment Management
368
-
Legal and professional
-
1,325
AGM costs
-
193
Auditors Remuneration
-
6,795
107,414
8,313
Analysed between
Charitable activities
107,414
8,313		 2021
£
57,104
3,725
7,908
2,660
1,233
2,960
22,437
1,070
1,274
598
1,888
4,190
-
368
1,325
193
6,795
115,728
115,728		 2020 Basis of allocation
£
62,094
All allocated to charitable
activities
4,929
9,166
2,411
3,292
3,152
12,549
1,845
879
1,119
2,267
8,139
8,800
641
2,767 Governance
801 Governance
6,620 Governance
131,471
131,471

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

9 Support costs

(Continued)

CHARITY

Support
costs
Governance
costs
£
£
Staff costs
57,103
-
Heating, lighting, rates
and water
3,725
-
Insurance
7,908
-
Communications
2,660
-
Printing and stationery
1,233
-
Postage
2,961
-
Computer and IT costs
22,437
-
Accounts
1,070
-
Travelling
1,274
-
Maintenance to property
598
-
Miscellaneous expenses
1,888
-
Bank charges
4,190
-
Recruitment
-
-
Investment Management
368
-
AGM costs
-
193
Auditors Remuneration
-
3,500
107,414
3,693
Analysed between
Charitable activities
107,414
3,693		 2021
£
57,103
3,725
7,908
2,660
1,233
2,961
22,437
1,070
1,274
598
1,888
4,190
-
368
193
3,500
111,108
111,108		 2020 Basis of allocation
£
64,861
All allocated to charitable
activities
4,929
8,166
2,411
3,292
3,152
12,549
1,845
879
1,119
2,267
8,139
8,800
641
801 Governance
3,500 Governance
127,351
127,351

10 Trustees

None of the trustees (or any persons connected with them) received any remuneration during the year, no travelling expenses w ere reimbursed to trustees (2020- £2, 838 , eight trustees).

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

11 Employees

Number of employees

The average monthly number of employees during the year was:

Administration
Publications
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2021
Number
2
3
5
2021
£
164,306
12,596
7,253
184,155		 2020
Number
2
3
5
2020
£
190,561
13,526
9,931
214,018

Wages and salaries costs for the prior year includes £19,000 in relation to ex gratia payments made for services rendered to the charity.

All employees are considered to be key management personnel.

There were no employees whose annual remuneration was £60,000 or more.

12 Net gains/(losses) on investments

Unrestricted Restricted
funds
funds
£
£
Revaluation of investments
235,038
27,527
Gain/loss on sale of investments
13,007
-
248,045
27,527
For the year ended 31
August 2020
(153,863)
(17,749)		 Total
Total
2021
2020
£
£
262,565
(189,643)
13,007
18,031
275,572
(171,612)
(171,612)

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

13 Intangible fixed assets
Website development
£
Cost
At 1 September 2020 and 31 August 2021 94,741
Amortisation and impairment
At 1 September 2020 37,896
Amortisation charged for the year 18,948
At 31 August 2021 56,844
Carrying amount
At 31 August 2021 37,897
At 31 August 2020 56,845

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2021

14 Tangible fixed assets

GROUP AND CHARITY

Leasehold
property
Trophies and
medals
Fixtures &
fittings
£
£
£
Cost
At 1 September 2020
189,052
79,258
108,097
At 31 August 2021
189,052
79,258
108,097
Depreciation and impairment
At 1 September 2020
48,026
-
105,693
Depreciation charged in the year
2,474
-
599
At 31 August 2021
50,500
-
106,292
Carrying amount
At 31 August 2021
138,552
79,258
1,805
At 31 August 2020
141,026
79,258
2,404		 Library
Glasshouse
£
£
40,470
75,070
40,470
75,070
-
6,006
-
3,003
-
9,009
40,470
66,061
40,470
69,064		 Total
£
491,947
491,947
159,725
6,076
165,801
326,146
332,222

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

14 Tangible fixed assets

(Continued)

The Trophies and Medals were valued in December 2008 at £79,258 by Tower Trophies, an independent valuer for insurance purposes. The Trustees of the Society have considered the valuation and feel that it is appropriate for the purposes of these accounts.

The Library books were valued in October 2015 by Mike Park Limited, specialists in gardening, botany and natural history books. The trustees believe that this valuation is not materially different to that as at 31 August 2016 under the transitional provisions of FRS 102, these values are considered to be deemed cost.

15 Fixed asset investments

GROUP
UK Unit Trusts
Cash in portfolio
CHARITY
UK Unit Trusts
Cash in portfolio
Shares in Subsidiary Companies		 2021
£
2,131,892
19,266
2,151,158
2021
£
2,131,892
19,266
6
2,151,164		 2020
£
1,965,953
-
1,965,953
2020
£
1,965,953
-
6
1,965,959

The subsidiary undertakings are wholly owned and are AGS Expeditions Limited and AGS Publications Limited, companies incorporated in England and Wales.

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

15 Fixed asset investments

(Continued)

Movements in fixed asset investments Movements in fixed asset investments
GROUP UK Unit Shares in
Cash in portfolio Trust Subsidiary Total
Companies
£ £ £ £
Cost or valuation
At 31 August 2019 - 1,965,953 - 1,965,953
Additions 19,266 1,621,720 - 1,640,986
Valuation changes - 275,572 - 275,572
Disposals - (1,731,353) - (1,731,353)
At 31 August 2021 19,266 2,131,892 - 2,151,158
Carrying amount
At 31 August 2021 19,266 2,131,892 - 2,151,158
At 31 August 2020 - 1,965,953 - 1,965,953
CHARITY Cash in portfolio UK Unit Shares in
Trust Subsidiary Total
Companies
£ £ £ £
Cost or valuation
At 31 August 2019 - 1,965,953 6 1,965,959
Additions 19,266 1,621,720 - 1,640,986
Valuation changes - 275,572 - 275,572
Disposals - (1,731,353) - (1,731,353)
At 31 August 2021 19,266 2,131,892 6 2,151,164
Carrying amount
At 31 August 2021 19,266 2,131,892 6 2,151,164
At 31 August 2020 - 1,965,953 6 1,965,959
16 Financial instruments 2021 2020
£ £
Carrying amount of financial assets
Equity instruments measured at market value 2,135,423 1,965,953

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

17
Stocks
GROUP
Goods for resale
CHARITY
Goods for resale
18
Debtors
Amounts falling due within one year:
Trade debtors
Amounts due from subsidiary undertakings
Other debtors
Prepayments and accrued income
Amounts falling due after one year:
Amounts falling due after more than one year
and included in the debtors above are:
Amounts due from subsidiary undertakings		 GROUP
2021
£
79
-
9,236
17,649
26,964
-
-		 2020
£
996
-
44,392
20,438
65,826
-
-		 2021
£
32,322
6,262
CHARITY
2021
£
-
35,060
9,327
16,189
60,576
23,524
23,524		 2020
£
43,723
6,685
2020
£
-
38,864
44,402
19,148
102,414
28,154
28,154

19 Creditors: amounts falling due within one year

GROUP
2021
2020
£
£
Other taxation and social security
4,131
4,425
Deferred income
1,633
1,490
Trade creditors
262
6,102
Other creditors
8,564
9,373
Accruals
20,716
23,777
35,306
45,167		 CHARITY
2021
£
4,131
455
-
8,564
16,033
29,183		 2020
£
4,425
1,490
-
9,373
19,097
34,385

Deferred income represents monies received in advance for forthcoming conferences and events, advertising and pre-publication orders, this is released in the subsequent period as the events occur, bulletins are issued or books are dispatched.

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

20 Retirement benefit schemes

Defined contribution schemes

The Society operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Society in an independently administered fund. In addition the Society contributes to other pension arrangements of certain employees.

The charge to statement of financial activities in respect of such contributions was £ 7,253 (20 20 - £ 9,931 ).

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2021

21 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Balance at
1 September
2019

£
E F Hendry Bequest
194,305
Wilsher Fund
8,260
Alpine House
9,840
212,405		 Movement in funds
Incoming
resources
Resources
expended
Investment
gains/losses
Balance at
1 September
2020

£
£
£
£
5,413
(2,025)
(15,872)
181,821
711
(1,359)
(1,877)
5,735
-
(410)
-
9,430
6,124
(3,794)
(17,749)
196,986		 Movement in funds
Incoming
resources
Resources
expended
Investment
gains/losses
Balance at
31 August
2021
£
£
£
£
3,997
(3,587)
27,053
209,284
70
(19)
474
6,260
-
(410)
-
9,020
4,067
(4,016)
27,527
224,564

E F Hendry Bequest Fund - The monies are to be used to advance and promote the charitable activities of Alpine Garden Society for the benefit of the East Surrey Group.

Wilsher Fund - The monies are to be used to advance and promote the charitable activities of Alpine Garden Society for the benefit of the Bedfordshire Group.

Alpine House - funds received for the construction of the Alpine House in the Society garden.

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

22 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Balance at
1 September
2019
Revaluations,
gains and
losses
Balance at
1 September
2020
Revaluations,
gains and
losses
£
£
£
£
Stirt Piggin AGS Centre Memorial
Garden Fund
32,115
(2,647)
29,468
3,644
Major Projects Fund
164,537
(13,562)
150,975
18,572
Anthony Pettit AGS Centre Fund
149,586
(12,325)
137,261
17,052
346,238
(28,534)
317,704
39,268
23
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
TotalUnrestricted
funds
Restricted
funds
2021
2021
2021
2020
2020
£
£
£
£
£
Fund balances at 31
August 2021 are
represented by:
Intangible fixed assets
37,897
-
37,897
56,845
-
Tangible assets
317,126
9,020
326,146
322,792
9,430
Investments
1,935,614
215,544
2,151,158
1,778,397
187,556
Current assets/
(liabilities)
104,251
-
104,251
134,673
-
2,394,888
224,564
2,619,452
2,292,707
196,986		 Balance at
31 August
2021
£
33,112
169,547
154,313
356,972
Total
2020
£
56,845
332,222
1,965,953
134,673
2,489,693

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

24 Related party transactions

A.G.S Publications Limited

During the period Alpine Garden Society advanced funds to A.G.S Publications Limited. At the balance sheet date A.G.S Publications Limited owed the Alpine Garden Society £ 33,52 6 (20 20 £ 38,15 5).

At the period end there was n o p r ofit to covenant from A.G.S Publications Limited to the Alpine Garden Society (20 20 £ nil ).

A recharge of £300 (2020 £ 300 ) has been made by the Alpine Garden Society in respect of time spent by staff on the administration of activities for the year.

A.G.S Expeditions Limited

During the period, Alpine Garden Society advanced funds to A.G.S Expeditions Limited , the amounts owed by the company at the balance sheet date were £ 1,53 7 (20 20 £71 1 ).

A recharge of £ 1 00 (20 20 - £ 1 ,000) has been made by the Alpine Garden Society in respect of time spent by staff on the administration of the company, no tours were possible during the year .

At the period there was no profit to covenant to the Society (20 20 £ 952 was covenanted ).

25 Cash generated from operations 2021 2020
£ £
Surplus/(deficit) for the year 129,759 (336,039)
Adjustments for:
Investment income recognised in profit or loss (41,216) (59,863)
Gain on disposal of investments (13,007) (18,031)
Fair value gains and losses on investments (262,565) 189,643
Depreciation, amortisation and impairment of tangible fixed assets 25,024 25,227
Movements in working capital:
Decrease/(increase) in stocks 11,401 (1,975)
Decrease in debtors 35,900 39,722
(Decrease) in creditors (9,862) (132,367)
Cash absorbed by operations (124,566) (293,683)