2024-12-31-accounts - The Journal Of Horticultural Science And Biotechnology

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Reports and Financial Statements

The Journal of Horticultural Science and Biotechnology

Year Ended 31 December 2024

THE JOURNAL OF HORTICULTURAL SCIENCE AND BIOTECHNOLOGY

CONTENTS
	Page
Year Ended 31 December 2024
Board of Trustees etc.	1
Trustees' Report	2
Independent Examiner's Report	3
Balance Sheet	4
Income and Expenditure Statement	5
Statement of Financial Activities	6
Notes to the Financial Statements	7 - 10

THE JOURNAL OF HORTICULTURAL SCIENCE AND BIOTECHNOLOGY

CHARITY REGISTRATION NUMBER

211855

GOVERNING DOCUMENT

The charity is governed by its Constitution adopted in October 1993 and amended in September 1997, May 2004 , May 2008 and May 2021.

BOARD OF TRUSTEES

G R Dixon, BSc PhD FCIHort CBiol FRSB (Chairman) R H Collier OBE PhD (Deputy Chairperson) R J Bogers, PhD W J Davies CBE PhD P Hadley BSc PhD P R Mills, BSc PhD MBA J R Pitt, LLB T Lawson BSc PhD CBio1 FRSB S Pearson, BSc PhD FRSB FIAgE HonFRAgS

INVESTMENT MANAGERS

Rathbones Investment Management 30 Gresham Street London EC2V 7QN

EDITOR

G Seymour 22 Troutbeck Crescent Bramcote Nottingham NG9 3BP

INDEPENDENT EXAMINER

T Lamley CIMA 112 Leicester Road Bedworth Warks

DEPUTY EDITOR

J Hammond 90 Lower Henley Road Caversham Reading RG4 5LE

BANKERS

Lloyds Bank Plc 41/43 South Street, Worthing West Sussex BN11 3AU

PUBLISHERS

Taylor & Francis 4 Park Square Milton Park Abingdon OX14 4RN

REGISTERED OFFICE

21 Mantilla Drive Styvechale Grange Coventry CV3 6NJ

SECRETARY/TREASURER

R Preedy

THE JOURNAL OF HORTICULTURAL SCIENCE AND BIOTECHNOLOGY

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

BOARD OF TRUSTEES

The Board met on Thursday 8th May 2024, at Riseholme Hall, University of Lincoln Riseholme Park Lincoln LN2 2LG

2 CHARITABLE OBJECTIVES AND PUBLIC BENEFIT

To advance research into the science and practice of agriculture with particular reference to horticulture and assist in the dissemination of the results of the said research work by the publication of a Journal. Journal to be called "The Journal of Horticultural Science and Biotechnology", which shall be available to members of the general public. The trustees have taken account of the Charity Commission 's general guidance on public benefit when setting ours aims and objectives and in planning our future activities

PUBLICATION

Volume 99 has published on schedule. It contained 61 original articles, including 11 reviews and one Editorial. The number of submissions was 579 not including revisions and resubmissions. Volume 100 is also publishing on schedule. Issues one and two have been published and I have recently selected the 10 articles and an Editorial on the Vol 98 prize for issue three (May 2025) which leaves 23 accepted papers in the backlog and around 40 papers in various stages of assessment within the system, which should be sufficient to fill the three remaining issues of Volume 100 and at least one issue of volume 101.

Dr Hammond (Deputy Editor) and I appointed two new AEs in 2024: (1) Luke Bell, Dip.Mgmt, FHEA, BSc, MSc, PhD, Department of Crop Science, University of Reading, UK.

(2) ANA FITA, BSc, PhD, Universitat Politècnica de València, Spain.

FINANCIAL RESULTS

Publication income is based on a royalty agreed between the Journal and the publishers Taylor and Francis. Income for 2024 is £ 87,830 (2023 £ 86,701). The royalty income is slightly better than 2023 , however, it should be viewed against a background of the restrictions relating to Coronavirus are still having an effect globally. When the Taylor and Francis contribution to the editorial costs are taken in consideration along with investment income, bank deposit interest and miscellaneous income the total income for the year is £ 115,723 ( 2023 £ 112,547). This resulted in a welcome increase of £3,176 in the Journals total income for 2024.

RESERVES

5 In view of the current royalty arrangements with Taylor and Francis the Board has agreed it will monitor the position on an annual basis.

INVESTMENTS

6 Investments are made at the Board's discretion. They are reviewed annually with advice from the Investment Managers, who also monitor the portfolio throughout the year.

The independently examined accounts for the year form part of this report.

Prof G R Dixon Chairman of Trustees

Mr R Preedy Secretary/Treasurer

Independent Examiner’s Report to the Trustees of the Journal of Horticultural Science and Biotechnology

I report to the trustees on my examination of the accounts of the Trust for the year ended 31 December 2024, which are set out on pages 4 to 10.

Responsibilities and basis of report

As the charity’s trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act ").

I report in respect of my examination of the Trust's account carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements concerning the form and content

of accounts set out in the Charities (Accounts and Reports) Regulation 2008 other than any

requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination.

I have no concerns and have come across no matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Name: T Lamley CIMA Address: 112 Leicester Road Bedworth

Date: May 2025

THE JOURNAL OF HORTICULTURAL SCIENCE AND BIOTECHNOLOGY

BALANCE SHEET

AS AT 31 DECEMBER 2024

Note Fixed assets Investments 3 Current assets Debtors 4 Cash at bank Deposit account Creditors: amounts falling due within one year 5 Net current assets Total assets less current liabilities Unrestricted Funds: Reserves 6 Investment Revaluation Reserve 7 Approved by the Board of Trustees	2024 £ 836,177 57,396 4,522 80,360 142,278 (14,110) 128,168 964,345 £ 814,514 149,831 964,345	2023 £ 762,769 56,041 1,214 59,454 116,709 (10,481) 106,228 868,997 £ 771,643 97,354 868,997

............................................................................ Chairman Prof G R Dixon

............................................................................ Secretary/Treasurer

R Preedy

THE JOURNAL OF HORTICULTURAL SCIENCE AND BIOTECHNOLOGY

INCOME AND EXPENDITURE STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2024

Note Royalties receivable Volume 99-98 Editorial contribution Total surplus on Journal Other expenses 2 Operating Profit/ (Loss) Investment income Deposit interest (gross) Surplus /(Deficit) carried to Reserves 6	2024 £ 87,830 6,055 93,885 (72,852) 21,033 20,932 906 42,871	2023 £ 86,701 5,555 92,256 (43,572) 48,684 19,605 686 68,975

The Income and Expenditure Statement is derived from the Statement of Financial Activities on page 6 together with the notes to the accounts on pages 7 to 10.

THE JOURNAL OF HORTICULTURAL SCIENCE AND BIOTECHNOLOGY STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2024

Note Incoming Resources Royalties receivable Volume 99-98 Editorial Contribution Investment income (gross) Investment income Deposit interest Total Incoming Resources Resources Expended Direct charitable expenses: Editor's remuneration and NI Stationery /sundry items / IT equipt Management and administration: Secretary/ Treasurer's remuneration and NI Postage, telephone etc Printing & stationary Audit and accountancy Insurance Travel grants I T Software and consumables Travel and meetings Investment Manager fee Reading Conference Marketing/Social Media Total Resources Expended 2 Net Incoming Resources For The Year 6 Other Recognised Gains and Losses Gain/( Diminution) on investments 7 Net Movement In Funds Funds Balances Brought Forward at 1 January 2024 Funds Balances Carried Forward at 31 December	£ 87,830 6,055 - 26,996 721 16,897 14 0 850 498 0 943 5,381 1,748 16,076 2,728 2024	2024 £ 93,885 20,932 906 115,723 27,717 45,135 72,852 42,871 52,477 95,348 868,997 964,345	£ 86,701 5,555 16,182 664 16,044 12 176 825 492 1,036 888 3,479 1,209 0 2,565	2023 £ 92,256 19,605 686 112,547 16,846 26,726 43,572 68,975 18,801 87,776 781,221 868,997

There were no other gains or losses in the year other than those reported above.

THE JOURNAL OF HORTICULTURAL SCIENCE AND BIOTECHNOLOGY

NOTES TO THE FINANCIAL STATEMENTS AS AT 31 DECEMBER 2024

1. ACCOUNTING POLICIES AND TRUSTEES RESPONSIBILITIES FOR THE FINANCIAL STATEMENTS

Trustees Responsibilities

The Charities Act requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity's activities during the year Year Ended 31 December 2024

In preparing the accounts the trustees have:

selected suitable accounting policies and applied them consistently;
made judgements and estimates that are reasonable and prudent;
followed applicable accounting standards;
prepared the accounts on a going concern basis.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the charity's assets, and hence for taking reasonable steps for the prevention and detection of error, fraud, and other irregularities.

Basis of Accounting

The financial statements are prepared under the historical cost convention as modified by the inclusion of investments at market value, and in accordance with applicable accounting standards. In preparing the financial statements the charity follows best practice as laid down in the Statement of Recommended Practice "Accounting and Reporting by Charities" (SORP FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice.

Publication Income

Publication income is based on royalties paid by Taylor & Francis (the Journals publisher's) as set out in the publishing agreement dated 4th July 2022.

Production Costs

The production costs of each volume are charged fully in the year to which the volume relates.

Investments

Investments are included at market value.

Investment Income

Investment income is transfered direct to the Journals Investment Portfolio on a quarterly basis, by Rathbones.

THE JOURNAL OF HORTICULTURAL SCIENCE AND BIOTECHNOLOGY

NOTES TO THE FINANCIAL STATEMENTS

31 DECEMBER 2024

2 OTHER EXPENSES

Editor's remuneration and NI Secretary/Treasurer's remuneration and NI Stationery, printing and photocopying (inc diaries) Postage, telephone etc Travel grants Audit and accountancy IT consumables Insurance Travel and meetings Investment Manager fee Reading Conference Marketing/Social Media	2024 £ 26,996 16,897 721 14 - 850 943 498 5,381 1,748 16,076 2,728 72,852	2023 £ 16,182 16,044 840 12 1,036 825 888 492 3,479 1,209 - 2,565 43,572

Other expenses can be split between direct charitable expenditure of £ 27,717 and management and administration of £45,135 (2023 £26,726 and £16,846).

Employee information

The Charity employed four employees during the year to deal with all the administrative and editorial duties of the Charity. There were no members of staff paid more than £60,000 within the year.

Trustee remuneration and expenses

Trustee remuneration paid during the year was nil.

Included within travel and meeting expenses is the sum of £4,156 for expenses incurred by all of the trustees, including all business meetings by trustees (2023 £3,125).

Related party transactions

There were no related party transactions in 2024

THE JOURNAL OF HORTICULTURAL SCIENCE AND BIOTECHNOLOGY

NOTES TO THE FINANCIAL STATEMENTS

31 DECEMBER 2024

3 INVESTMENTS Listed at Market value Year Ended 31 December 2024 4 DEBTORS AND PREPAYMENTS Sundry debtors 5 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Sundry creditors and accruals	2024 £ 836,177 836,177 2024 £ 57,396 57,396 2024 £ 14,110 14,110	2023 £ 762,769 762,769 2023 £ 56,041 56,041 2023 £ 10,481 10,481

THE JOURNAL OF HORTICULTURAL SCIENCE AND BIOTECHNOLOGY

NOTES TO THE FINANCIAL STATEMENTS

31 DECEMBER 2024

6 RESERVES

Balance 1st January Surplus / (Deficit ) for the year Balance at 31 December 7 INVESTMENT REVALUATION RESERVE Balance at 1 January Gain/Diminution in Valuation Balance at 31 December	2024 £ 771,643 42,871 814,514 2024 £ 97,354 52,477 149,831	2023 £ 702,668 68,975 771,643 2023 £ 78,553 18,801 97,354

8 STATUS

The Journal of Horticultural Science and Biotechnology is a registered charity (No. 211855).

9 TAXATION

The Journal of Horticultural Science and Biotechnology is exempt from Income Tax, Capital Gains Tax and Corporation Tax but is required to be registered for Value Added Tax (No. 203 9712 80).