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2022-08-31-accounts

Charity Registration No. 207478

ALPINE GARDEN SOCIETY

TRUSTEES' CONSOLIDATED ANNUAL REPORT AND ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2022

ALPINE GARDEN SOCIETY

LEGAL AND ADMINISTRATIVE INFORMATION

Custodian holding trustees Mr D Hearn
Dr L Joyce
Mrs J Ryan
Trustees Mr C Bailes (Resigned 13 November 2021 - Officer)
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 (Resigned 13 November 2021)
Mr D Haselgrove (Appointed 27 April 2019 - Officer)
Mr D Mountfort (Resigned 13 November 2021)
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)
Mr P Liverman (Appointed 13 November 2021)
Dr R Amos (Appointed 13 November 2021)
Mr T Freeth (Appointed 13 November 2021)
President Mr C Bailes (to 13 November 2021)
Mr D Morris (from 13 November 2021)
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 - 40

ALPINE GARDEN SOCIETY

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 AUGUST 2022

The trustees present their annual report and financial statements for the year ended 31 August 2022.

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 2022

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 hold up to 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, in 2021 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. We restarted shows during this financial year, some of which were cancelled because of local COVID problems, resulting in 16 shows being successfully held.

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 Limited 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.

A.G.S. Publications Limited is in debt to the main Society, this debt is not reducing but is growing due to ongoing running costs for the Limited company. The Charity, will during 2023, close A.G.S. Publications Limited. The Charity will, however, continue to publish books with a partner, and will also continue to retail books through the website and at shows.

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 2021/22 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 able to restart its educational one-day events and conferences that are open to the public during 2022. These events include a weekend conference, and Bulb Day featuring a variety of guest speakers, both from home and overseas.

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.

ALPINE GARDEN SOCIETY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

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. 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.

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 non- members 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.

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. Redevelopment 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 Social Media 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.

ALPINE GARDEN SOCIETY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Financial review

During the year the charitable group had incoming resources totalling £261,734 (2021 £257,817), of which £120,563 (2021 £123,963) was from membership subscriptions.

Total resources expended for the year were £447,143 (2021 £403,630), giving net outgoing (2021 - outgoing) resources (before investment losses (2021 - gains)) of £185,409 (2021 £145,813).

There are realised losses of £2,601 (2021 - gains £13,007) and unrealised losses of £124,332 (2021 – gains £262,565) arising on the investment assets resulting in a decrease in funds of £312,342 (2021 £129,759 increase), leaving total reserves at £2,307,110.

Of the total funds £208,178 (2021 - £224,564) is restricted in nature, details are provided in the notes to the financial statements, a further £331,686 (2021 - £356,972) 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 £1,427,226 (2021 - £1,682,893) 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 consider 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.

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 Charity include UK Government Fixed Interest Bonds, UK Unit Trusts and shares in subsidiary companies.

The market value of the investments decreased this year by £124,332 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.

ALPINE GARDEN SOCIETY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Plans for the future

The charity will continue with its regular activities in pursuit of its Objectives. This will entail organising 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 2022

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).

The 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 43 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 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 post of web and Social Media Editor 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 2022

The trustees' report was approved by the Board of Trustees.

Mr D Morris

President Dated: 29 October 2022

ALPINE GARDEN SOCIETY

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 AUGUST 2022

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 2022 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 statement of trustees' responsibilities, 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.

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: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Other matters

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 29 October 2022

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 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 2022

Current financial year

Unrestricted
Restricted
funds
funds
2022
2022
Notes
£
£
Income from:
Voluntary income
3
144,679
-
Charitable activities
4
65,094
-
Investments
5
46,389
5,572
Total income
256,162
5,572
Expenditure on:
Raising funds
6
51,148
2,949
Charitable activities
7
387,756
5,290
Total resources expended
438,904
8,239
Net movement before investment (losses)/gains
(182,742)
(2,667)
Net (losses)/gains on investments
11
(113,214)
(13,719)
Net movement in funds
(295,956)
(16,386)
Fund balances at 1 September 2021
2,394,888
224,564
Fund balances at 31 August 2022
2,098,932
208,178		 Total
2022
£
144,679
65,094
51,961
261,734
54,097
393,046
447,143
(185,409)
(126,933)
(312,342)
2,619,452
2,307,110		 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

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 2022

Prior 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 in funds before investment (losses)/gains
(145,864)
51
Net gains on investments
11
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

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 2022

Notes
Fixed assets
Intangible assets
12
Tangible assets
13
Investments
14
Current assets
Stocks
16
Debtors
17
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
20
Unrestricted funds
Designated funds
21
General unrestricted funds		 2022
£
£
18,949
329,681
1,846,706
2,195,336
36,216
174,477
83,828
294,521
(182,747)
111,774
2,307,110
208,178
331,686
1,767,246
2,098,932
2,307,110		 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		 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
2,515,201
104,251
2,619,452
224,564
2,394,888
2,619,452

The accounts were approved by the Trustees on 29 October 2022

Mr D Morris President

ALPINE GARDEN SOCIETY

CHARITY STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2022

Current financial year
Unrestricted
Restricted
funds
funds
Notes
£
£
Income from:
Voluntary income
3
144,679
-
Charitable activities
4
37,618
-
Investments
5
46,389
5,572
Total income
228,686
5,572
Expenditure on:
Raising funds
6
27,220
2,949
Charitable activities
7
381,835
5,290
Total resources expended
409,055
8,239
Net movement before investment (losses)/gains
(180,369)
(2,667)
Net (losses)/gains on investments
11
(113,214)
(13,719)
Net movement in funds
(293,583)
(16,386)
Fund balances at 1 September 2021
2,405,011
224,564
Fund balances at 31 August 2022
2,111,428
208,178		 Total
2022
£
144,679
37,618
51,961
234,258
30,169
387,125
417,294
(183,036)
(126,933)
(309,969)
2,629,575
2,319,606		 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

ALPINE GARDEN SOCIETY

CHARITY STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2022

Prior 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 gains on investments
11
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

ALPINE GARDEN SOCIETY

CHARITY BALANCE SHEET

AS AT 31 AUGUST 2022

Notes
Fixed assets
Intangible assets
12
Tangible assets
13
Investments
14
Current assets
Stocks
16
Debtors
17
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
20
Designated funds
21
General unrestricted funds		 2022
£
£
18,949
329,681
1,846,712
2,195,342
6,115
89,674
80,782
176,571
(52,307)
124,264
2,319,606
208,178
331,686
1,779,742
2,319,606		 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		 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
2,515,207
114,368
2,629,575
224,564
356,972
2,048,039
2,629,575

The accounts were approved by the Trustees on 29 October 2022

Mr D Morris President

ALPINE GARDEN SOCIETY

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2022

Notes
Cash flows from operating activities
Cash absorbed by operations
24
Investing activities
Purchase of tangible fixed assets
Purchase of investments
Proceeds on disposal of investments
Interest received
Net cash generated from investing
activities
Net cash used in financing activities
Net (decrease)/increase in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
Relating to:
Cash at bank and in hand
Cash deposits included in fixed asset
investments		 2022
2021
£
£
£
£
(213,713)
(124,566)
(9,917)
-
-
(1,621,720)
158,252
1,731,355
49,669
44,177
198,004
153,812
-
-
(15,709)
29,246
99,537
70,291
83,828
99,537
83,828
80,271
-
19,266

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

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 amounts 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, the 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 group 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 2022.

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 2022

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

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

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

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

1 Accounting policies

(Continued)

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

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 the statement of financial activities.

1.8 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the Society holds a long-term interest and where the Society has significant influence. The Society considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

1.9 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.

1.10 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.

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

1 Accounting policies

(Continued)

1.11 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.

1.12 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.

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.

1.13 Employee benefits

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

1.14 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.

1.15 Life 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.

1.16 Lease costs

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

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

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.

3 Voluntary income

Unrestricted Unrestricted
funds funds
2022 2021
£ £
GROUP AND CHARITY
Donations and gifts 1,410 3,190
Legacies receivable 22,706 37,059
Government grants - 8,114
Subscriptions 120,563 123,963
144,679 172,326

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

4 Charitable activities

GROUP

Advertisin
g Income -
Bulletins
£
Charitable income from activities
6,091
Other income
-
Trading Income
-
6,091
Analysis by fund
Unrestricted funds
6,091
6,091
For the year ended 31 August 2021
Unrestricted funds
11,105
11,105		 Seed Merchand
ise
Conference
and events
£
£
£
9,442
915
3,377
-
-
-
-
-
-
9,442
915
3,377
9,442
915
3,377
9,442
915
3,377
3,105
291
183
3,105
291
183		 Major
exhibits
Show
donations
AGS
Expeditions
AGS
Publication
s
£
£
£
£
-
23,209
-
-
286
-
-
-
-
-
-
21,774
286
23,209
-
21,774
286
23,209
-
21,774
286
23,209
-
21,774
-
-
-
29,591
-
-
-
29,591		 Total
2022
£
43,034
286
21,774
65,094
65,094
65,094		 Total
2021
£
14,684
-
29,591
44,275
44,275
44,275

The income from charitable activities for the charity is as above excluding the trading income from the subsidiary undertakings net of a provision against the amount due from A.G.S. Publications Limited of £5,702 (2021 - £nil).

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

5 Investments

Unrestricted
Restricted
funds
funds
GROUP
£
£
Investment income
46,389
5,572
For the year ended 31 August 2021
37,149
4,067
Unrestricted
Restricted
funds
funds
CHARITY
£
£
Deeds of covenant
-
-
Investment income
46,389
5,572
46,389
5,572
For the year ended 31 August 2021
37,149
4,067		 Total
2022
£
51,961
Total
2022
£
-
51,961
51,961		 Total
2021
£
41,216
41,216
Total
2021
£
-
41,216
41,216
41,216

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

6 Raising funds

Unrestricted
Restricted
funds
funds
£
£
Direct costs of activities
Seed distribution
2,529
-
Show expenditure
22,979
-
Conferences
1,712
2,949
CHARITY
27,220
2,949
Expenditure of subsidiary companies
AGS Expeditions Limited (excluding wage &
governance costs)
4,515
-
AGS Publications Limited (excluding wage &
governance costs)
19,413
-
Expenditure of subsidiary companies
23,928
-
GROUP
51,148
2,949		 Total
Total
2022
2021
(unre-
stricted)
£
£
2,529
1,497
22,979
1,526
4,661
-
30,169
3,023
4,515
5,009
19,413
31,173
23,928
36,182
54,097
39,205		 Total
Total
2022
2021
(unre-
stricted)
£
£
2,529
1,497
22,979
1,526
4,661
-
30,169
3,023
4,515
5,009
19,413
31,173
23,928
36,182
54,097
39,205
3,023
5,009
31,173
36,182
39,205

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

7 Charitable activities

GROUP

Staff costs
Depreciation and amortisation
Journal
Newsletter
Awards and prizes
Headquarter garden
Promotion
Advertising
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 2021
Unrestricted funds
Restricted funds		 2022
£
114,783
25,330
59,382
1,732
35,014
13,993
85
9,735
260,054
121,552
11,440
393,046
387,756
5,290
393,046		 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

Group governance costs includes payments to the auditors of £6,950 (2021- £6,000) for annual audit fees and £1,370 (2021 £1,585) for other non- audit services. For the charity, governance costs includes £3,600 (2021 - £3,500) for annual audit fees. In addition £1,170 (2021 - £1,070) was paid for non-audit services.

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

7 Charitable activities

(Continued)

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 2021
Unrestricted funds
Restricted funds		 2022
£
114,782
25,330
-
59,382
1,732
35,014
13,993
85
9,735
260,053
-
120,252
6,820
387,125
381,835
5,290
387,125		 2021
£
126,651
25,624
-
66,557
1,956
14,403
8,931
131
4,045
248,298
-
107,414
3,693
359,405
355,389
4,016
359,405

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration during the year, travelling expenses of £1,129 were reimbursed to 5 trustees (2021- £nil).

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

9 Support costs

GROUP

Staff costs
Heating, lighting, rates
and water
Insurance
Communications
Printing and stationery
Postage
Computer and IT costs
Accounts
Travelling
Maintenance to property
Miscellaneous expenses
Bank charges
Investment Management
Legal and professional
AGM costs
Auditors Remuneration
Analysed between
Charitable activities		 Support
costs
Governance
costs
£
£
58,046
-
3,254
-
7,913
-
3,439
-
2,526
-
2,086
-
22,596
-
1,170
-
6,632
-
1,228
-
6,586
-
5,905
-
171
-
-
2,000
-
1,120
-
8,320
121,552
11,440
121,552
11,440		 2022
£
58,046
3,254
7,913
3,439
2,526
2,086
22,596
1,170
6,632
1,228
6,586
5,905
171
2,000
1,120
8,320
132,992
132,992		 2021 Basis of allocation
£
57,104
All allocated to charitable
activities
3,725
7,908
2,660
1,233
2,960
22,437
1,070
1,274
598
1,888
4,190
368
1,325 Governance
193 Governance
6,795 Governance
115,728
115,728

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

9 Support costs

(Continued)

CHARITY

Staff costs
Heating, lighting, rates
and water
Insurance
Communications
Printing and stationery
Postage
Computer and IT costs
Accounts
Travelling
Maintenance to property
Miscellaneous expenses
Bank charges
Investment Management
Legal and professional
AGM costs
Auditors Remuneration
Analysed between
Charitable activities		 Support
costs
Governance
costs
£
£
56,746
-
3,254
-
7,913
-
3,439
-
2,526
-
2,086
-
22,596
-
1,170
-
6,632
-
1,228
-
6,586
-
5,905
-
171
-
-
2,000
-
1,120
-
3,700
120,252
6,820
120,252
6,820		 2022
£
56,746
3,254
7,913
3,439
2,526
2,086
22,596
1,170
6,632
1,228
6,586
5,905
171
2,000
1,120
3,700
127,072
127,072		 2021 Basis of allocation
£
57,103
All allocated to charitable
activities
3,725
7,908
2,660
1,233
2,961
22,436
1,070
1,274
598
1,888
4,190
368
- Governance
193 Governance
3,500 Governance
111,107
111,107

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

10 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		 2022
Number
2
3
5
2022
£
148,986
10,231
9,853
169,070		 2021
Number
2
3
5
2021
£
164,306
12,596
7,253
184,155

All employees are considered to be key management personnel.

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

11 Net (losses)/gains on investments

Unrestricted
Restricted
Total
funds
funds
2022
£
£
£
Revaluation of investments
(110,867)
(13,465)
(124,332)
(Loss)/gain on sale of investments
(2,347)
(254)
(2,601)
(113,214)
(13,719)
(126,933)
For the year ended 31
August 2021
248,045
27,527		 Total
2021
£
262,565
13,007
275,572
275,572

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

12 Intangible fixed assets
GROUP AND CHARITY
Website development
£
Cost
At 1 September 2021 and 31 August 2022 94,741
Amortisation and impairment
At 1 September 2021 56,844
Amortisation charged for the year 18,948
At 31 August 2022 75,792
Carrying amount
At 31 August 2022 18,949
At 31 August 2021 37,897

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

13 Tangible fixed assets

GROUP AND CHARITY

Leasehold
property
Trophies and
medals
Fixtures &
fittings
£
£
£
Cost
At 1 September 2021
189,052
79,258
108,097
Additions
9,158
-
759
At 31 August 2022
198,210
79,258
108,856
Depreciation and impairment
At 1 September 2021
50,500
-
106,292
Depreciation charged in the year
2,739
-
640
At 31 August 2022
53,239
-
106,932
Carrying amount
At 31 August 2022
144,971
79,258
1,924
At 31 August 2021
138,552
79,258
1,805		 Library
Glasshouse
£
£
40,470
75,070
-
-
40,470
75,070
-
9,009
-
3,003
-
12,012
40,470
63,058
40,470
66,061		 Total
£
491,947
9,917
501,864
165,801
6,382
172,183
329,681
326,146

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

13 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.

14 Fixed asset investments

GROUP
UK Unit Trusts
Cash in portfolio
CHARITY
UK Unit Trusts
Cash in portfolio
Shares in Subsidiary Companies		 2022
£
1,846,706
-
1,846,706
2022
£
1,846,706
-
6
1,846,712		 2021
£
2,131,892
19,266
2,151,158
2021
£
2,131,892
19,266
6
2,151,164

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

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

14
Fixed asset investments
Movements in fixed asset investments
GROUP
Cash in portfolio
£
Cost or valuation
At 31 August 2019
19,266
Valuation changes
-
Disposals
(19,266)
At 31 August 2022
-
Carrying amount
At 31 August 2022
-
At 31 August 2021
19,266
CHARITY
Cash in portfolio
£
Cost or valuation
At 31 August 2019
19,266
Additions
-
Valuation changes
-
Disposals
(19,266)
At 31 August 2022
-
Carrying amount
At 31 August 2022
-
At 31 August 2021
19,266
15
Financial instruments
Carrying amount of financial assets
Equity instruments measured at market value		 (Continued)
UK Unit
Shares in
Trust
Subsidiary
Companies
Total
£
£
£
2,131,892
-
2,151,158
(126,934)
-
(126,934)
(158,252)
-
(177,518)
1,846,706
-
1,846,706
1,846,706
-
1,846,706
2,131,892
-
2,151,158
UK Unit
Shares in
Trust
Subsidiary
Companies
Total
£
£
£
2,131,892
6
2,151,164
-
-
-
(126,934)
-
(126,934)
(158,252)
-
(177,518)
1,846,706
6
1,846,712
1,846,706
6
1,846,712
2,131,892
6
2,151,164
2022
2021
£
£
1,846,706
2,131,892

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

16
Stocks
GROUP
Goods for resale
CHARITY
Goods for resale
17
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
2022
£
66,215
-
10,478
97,784
174,477
-
-		 2021
£
79
-
9,236
17,649
26,964
-
-		 2022
£
36,216
6,115
CHARITY
2022
£
-
38,803
10,508
40,363
89,674
22,545
22,545		 2021
£
32,322
6,262
2021
£
-
35,060
9,327
16,189
60,576
23,524
23,524

18 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 £9,853 (2021 - £7,253).

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

19 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
GROUP
2022
2021
£
£
Other taxation and social security
3,889
4,131
Deferred income
4,178
1,633
Payments received on account
125,760
-
Trade creditors
-
262
Other creditors
30,433
8,564
Accruals
18,487
20,716
182,747
35,306		 CHARITY
2022
£
3,889
4,178
-
-
30,433
13,807
52,307		 2021
£
4,131
455
-
-
8,564
16,033
29,183

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 2022

20 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
2020
r
£
E F Hendry Bequest
181,821
Wilsher Fund
5,735
Alpine House
9,430
196,986		 Movement in funds
Incoming
esources
Resources
expended
Investment
gains/losses
Balance at
1 September
2021
r
£
£
£
£
3,997
(3,587)
27,053
209,284
70
(19)
474
6,260
-
(410)
-
9,020
4,067
(4,016)
27,527
224,564		 Movement in funds
Incoming
esources
Resources
expended
Investment
gains/losses
Balance at
31 August
2022
£
£
£
£
5,416
(7,155)
(13,350)
194,195
156
(674)
(369)
5,373
-
(410)
-
8,610
5,572
(8,239)
(13,719)
208,178		 Movement in funds
Incoming
esources
Resources
expended
Investment
gains/losses
Balance at
31 August
2022
£
£
£
£
5,416
(7,155)
(13,350)
194,195
156
(674)
(369)
5,373
-
(410)
-
8,610
5,572
(8,239)
(13,719)
208,178
208,178

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 2022

21 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
2020
Revaluations,
gains and
losses

£
£
Stirt Piggin AGS Centre
Memorial Garden Fund
29,468
3,644
Major Projects Fund
150,975
18,572
Anthony Pettit AGS Centre
Fund
137,261
17,052
317,704
39,268
22
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
2022
2022
£
£
Fund balances at 31
August 2022 are
represented by:
Intangible fixed assets
18,949
-
Tangible assets
321,071
8,610
Investments
1,647,138
199,568
Current assets/(liabilities)
111,774
-
2,098,932
208,178		 Balance at
1 September
2021
Resources
expended
Revaluations,
gains and
losses

£
£
£
33,112
(4,409)
(1,936)
169,547
-
(9,918)
154,313
-
(9,023)
356,972
(4,409)
(20,877)
Total
Unrestricted
funds
Restricted
funds
2022
2021
2021
£
£
£
18,949
37,897
-
329,681
317,126
9,020
1,846,706
1,935,614
215,544
111,774
104,251
-
2,307,110
2,394,888
224,564		 Balance at
31 August
2022
£
26,767
159,629
145,290
331,686
Total
2021
£
37,897
326,146
2,151,158
104,251
2,619,452

ALPINE GARDEN SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

23 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 £38,249 (2021 £33,526) against which a provision of £5,702 (2021 - £nil) has been made.

At the period end there was no profit to covenant from A.G.S Publications Limited to the Alpine Garden Society (2021 £nil).

A recharge of £300 (2021 £300) has been made by the Alpine Garden Society in respect of time spent by staff on the administration of activities for the year and £1,000 (2021 - £nil) in respect of insurance.

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 £6,259 (2021 £1,537).

A recharge of £1,000 (2021 - £100) 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 end there was no profit to covenant to the Society (2021 £nil was covenanted).

24 Cash generated from operations 2022 2021
£ £
(Deficit)/surpus for the year (312,342) 129,759
Adjustments for:
Investment income recognised in the statement of financial activities (51,961) (41,216)
Loss/(gain) on disposal of investments 2,350 (13,007)
Fair value gains and losses on investments 124,584 (262,565)
Depreciation, amortisation and impairment of tangible fixed assets 25,330 25,024
Movements in working capital:
(Increase)/decrease in stocks (3,894) 11,401
(Increase)/decrease in debtors (145,221) 35,900
Increase/(decrease) in creditors 147,441 (9,862)
Cash absorbed by operations (213,713) (124,566)