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2024-03-31-accounts

Docusign Envelope ID: 8F06F53F-5D56-4FAE-9ACE-41478DB5C3C6

Registered number: 116643 Charity number: 214251

SOUTH LONDON BOTANICAL INSTITUTE

(A company limited by guarantee)

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

Docusign Envelope ID: 8F06F53F-5D56-4FAE-9ACE-41478DB5C3C6

SOUTH LONDON BOTANICAL INSTITUTE

(A company limited by guarantee)

CONTENTS
Page
Reference and administrative details of the charity, its trustees and advisers 1
Trustees' report 2 - 16
Trustees' responsibilities statement 17
Independent examiner's report 18
Statement of financial activities 19
Balance sheet 20
Notes to the financial statements 21 - 38

Docusign Envelope ID: 8F06F53F-5D56-4FAE-9ACE-41478DB5C3C6

SOUTH LONDON BOTANICAL INSTITUTE (A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024

President

Dr M Vorontsova

Trustees

Mr R Vickery (resigned 1/1/2024) Ms M Russell, Joint Chair Mr M Clarke, Joint Chair Mr E Asamoah, Hon Treasurer Ms M Harakis Ms C Simpkin Ms G M Avendano Vargas Ms S Simmonds Mr O Parsons Dr M Vorontsova Mr P Bodley

Company registered number

116643

Charity registered number

214251

Registered office

323 Norwood Road, London, SE24 9AQ

Company secretary

Ms C Simpkin

Independent Examiner

P M Landergan FCA., Landergan & Co, 26 Burney Street, London, SE10 8EX

Bankers

Barclays Bank Plc, 136 Streatham High Road, London, SW16 1BN CCLA Investment Management Ltd, 80 Cheapside, London, EC2V 6DZ

Solicitors

Bates, Wells and Braithwaite, 10 Queen Street Place, London, EC4R 1BE

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Docusign Envelope ID: 8F06F53F-5D56-4FAE-9ACE-41478DB5C3C6

SOUTH LONDON BOTANICAL INSTITUTE

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024

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Docusign Envelope ID: 8F06F53F-5D56-4FAE-9ACE-41478DB5C3C6

SOUTH LONDON BOTANICAL INSTITUTE (A company limited by guarantee)

1. OBJECTIVES AND ACTIVITIES

The South London Botanical Institute (SLBI) is a vital community learning space focused on plants, people and civic participation. Sited in a Victorian house in an inner-city area of Tulse Hill we are a community education hub where people of all ages & backgrounds are welcomed to explore the natural environment and become more informed about biodiversity and the climate crises. We are dedicated to creating learning and research opportunities that embolden curiosity and participation in some of the most pressing environmental, cultural and social issues of our time. The SLBI has been at the forefront of interesting people in south London and beyond in plants, fungi and other organisms classified as plants at the time of its foundation in 1910.

Purpose and Aims

i) The Institute promotes, encourages and facilitates the study of plants and related sciences and their practical application by the provision of our building in which research, study and other opportunities for learning are made available. In pursuance of this a library, a herbarium and botanical garden are maintained.

ii) The Charity was appointed Trustee of the Hume Endowment Fund as from 1 April 2005 following a scheme date of 1 March 2005 under which the Charity Commission amalgamated the Allan Octavian Hume Botanical Bequest, the Charity of Allan Octavian Hume for the South London Botanical Institute and the Norwood Road Trust into the Hume Endowment Fund.

iii) iii. In pursuance of the Objects of the Company, the Trustees are empowered to generally do all things as are incidental to the attainment of the Objectives or any of them.

The main activities undertaken by the charity to further its charitable purposes for the public benefit:

The SLBI runs plant-related talks, urban botany and nature walks, workshops, school visits & open garden days for individuals, families & community groups. We maintain a botanical library, herbarium consisting of three herbaria (British flowering plants, European flowering plants and Bryophytes) with over a quarter million specimens and a botanical garden for the purposes of research and education.

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Docusign Envelope ID: 8F06F53F-5D56-4FAE-9ACE-41478DB5C3C6

SOUTH LONDON BOTANICAL INSTITUTE (A company limited by guarantee)

We also run plant and nature-related projects and events in a range of sites and with a variety of partner organizations to broaden opportunities for a large cross-section of people to engage with plants and our work. You’ll find us in community halls and markets, in community gardens and in parks offering opportunities to learn about plants and biodiversity. We make a difference by providing a much-valued space, resources, and low-cost activities and opportunities to connect through peer-to-peer learning and imagination practices that value the non-human as much as the human.

Ensuring our work delivers our aims

We review our aims, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the previous 12 months. It helps us ensure our aims, objectives and activities remained focused on our stated purpose. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit and to its supplementary public benefit guidance for education.

Significant activities undertaken by the charity during the financial year to further its charitable purposes for the public benefit or to generate resources to be used to further its purposes.

  1. The closure of the building for all of 2023-24 due to the subsidence project was a significant and challenging period for the Institute. (This followed a period of full or partial closures since March 2020 due to Covid-19 and the impact of subsidence). To ensure a safe and secure site for our activities and resources, the physical infrastructure required extensive work, including underpinning, repairing structural integrity, replacing multiple plaster and lath ceilings, and undertaking a comprehensive reinstatement process including addressing damp in the ground floor kitchen. The magnitude of this project cannot be overstated. The insurer’s met the cost of the subsidence, with SLBI drawing on reserves to pay for essential additional work to repair and improve other aspects of the building. The building was inaccessible from January 2023 until February 2024 when staff and all contents, including collections, began to return to the building. All contents were returned safely by the end of March 2024 and reinstatement and unpacking efforts are anticipated to continue well into 2024-25. This prolonged closure had a considerable impact on our programming, particularly affecting school visits and onsite learning events. Nevertheless, we ran an active programme off-site throughout the closure as detailed below.

  2. The maintenance of our garden continued while our building and other collection resources remained unavailable.

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Docusign Envelope ID: 8F06F53F-5D56-4FAE-9ACE-41478DB5C3C6

SOUTH LONDON BOTANICAL INSTITUTE (A company limited by guarantee)

  1. The completion of the building work marked a significant shift in our operations, highlighted by the departure of our live-in wardens and the expansion of available space to better support the Institute's activities. This newly available space not only enhances our capacity to deliver programs but also creates new income-generation opportunities to further sustain our initiatives. The renovations include a new kitchen space and an upgraded kitchen space, a dedicated residency area, and an increase in hireable and activity spaces, all of which contribute to a more dynamic and versatile environment for the Institute's future endeavours.

  2. In our continuing efforts to enhance the impact and sustainability of our work, the charity began a significant step-change, marked by the appointment of a Director in May 2023. This appointment marks the adoption of more rigorous operational practices and enables a more strategic approach to programming and projects, with greater focus and alignment with our long-term goal to reach a wider community of learners and met their growing needs, enhance a public commitment to the non-human and the role plants play in urban health. This professionalisation is a crucial step in ensuring that we can continue to deliver our mission effectively and sustainably in the years to come.

  3. Business Plan. The full and partial closures of the building from March 2020-March 2024 (and continuing into following financial year) has presented many challenges to our business planning. Whilst retaining our four key aims, these challenges have been noted and addressed as far as possible in our 2023-2024 programming and other activities in preparation for a full review in 2024-2025.

  4. We have run an ongoing program that included the SLBI speaker series, the West Norwood Cemetery survey and specific event programs focused on house plants, fungi and trees featuring contributors from Kew, Queen Mary, Street Trees for Living and Lambeth Parks.

  5. We developed educational offering about seeds with curriculum links to take into formal and informal learning environments.

  6. We developed informal education offering for young people ages 16-24 with support from the HECF.

  7. The Gazette was published in Spring 2023 and Winter 2024, implementing a further redesign to support clearer communication of our activities and research.

  8. 10.During 2023-24 the South London Botanical Institute ran three community learning projects outside our regular home. These projects focused on human relationships to the natural world, growing edible plants at home, creating and supporting biodiverse habitats, and improving the health and wellbeing of those most in need of support. With the support of Lambeth Social Value Fund, Thriving Norwood and Awards for All in partnership with KataKata restaurant (Brixton Hill), we sought to reach a wider range of local people and community groups. Through our work we sought to deepen engagement with nature in local spaces and communities and expand understandings of plant science.

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Docusign Envelope ID: 8F06F53F-5D56-4FAE-9ACE-41478DB5C3C6

SOUTH LONDON BOTANICAL INSTITUTE (A company limited by guarantee)

With thanks to our funders for their support.

We would like to thank our donors and our volunteers for their vital support for the SLBI. We are grateful to our staff, present and past, staff for their work on uplifting the aims and objectives of the SLBI.

2. ACHIEVEMENTS AND PERFORMANCE

Despite the challenges of the building being closed for 2023-2024 because of subsidence we achieved the following.

  1. Overview:

  2. a. Almost 2,500 learners of all ages engaged in our activities over 202324

  3. b. 21 walks and surveys took place in urban parks and streets that introduced over 300 people to plant life and botanical skills in their locality.

  4. c. 85 children and adults took part in plant related workshops and drop-in activities in Lambeth extending our reach to new learners.

  5. d. We worked with 5 local primary and secondary schools, providing learners with valuable botanical educational opportunities. We reached over 350 students in schools and of those 185 learners were introduced to our new supersonic seeds workshop.

  6. e. We held 11 specialist workshops and talks that reached over 260 people. We ran a mix of in person, online and hybrid events to ensure accessibility to a range of participants.

  7. f. There were 359 members.

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Docusign Envelope ID: 8F06F53F-5D56-4FAE-9ACE-41478DB5C3C6

SOUTH LONDON BOTANICAL INSTITUTE (A company limited by guarantee)

  1. Building Project

  2. a. Completion of underpinning and stitching of the fabric of the building.

  3. b. Repossession of building and return of contents including over a quarter of a million herbarium specimens and our full library from specialist storage all in good condition.

Highlights of Roaming Activities 2023-24

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Docusign Envelope ID: 8F06F53F-5D56-4FAE-9ACE-41478DB5C3C6

SOUTH LONDON BOTANICAL INSTITUTE (A company limited by guarantee)

3. FINANCIAL REVIEW

The charity reported a deficit of £104,345 in the year ended 31 March 2024 before revaluing its investments. At the year-end, changes in the Stock Exchange resulted in an unrealised surplus on the Company's investments of £69,137. Total incoming resources increased from £108,506 to £132,448, due to some large restricted grants being received late in the year offsetting slow movement in our activities after an effective four years of building closure due to COVID measures, subsidence, the decanting of the building to prepare for structural repairs, ensuing repairs and reinstatement. A drop in subscription fees in this financial year has been mitigated by an increase in donations. Despite the challenges in raising unrestricted income, the charity maintained its income support from funders that supported in delivering the charitable object.

As part of the Board and Finance and Risk Subcommittee work other steps taken to reach the necessary income included successful match funding and individual giving activities along with earning income from donations for online talks, garden visits and other activities.

Efforts were made to reduce expenses, but opportunities to do so were limited. Some costs associated with use of the building were reduced (energy, printing, cleaning etc), but we faced additional costs, for example, of temporary office accommodation and expenditure associated with offsite activities, which was only partly met by the insurers.

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Docusign Envelope ID: 8F06F53F-5D56-4FAE-9ACE-41478DB5C3C6

SOUTH LONDON BOTANICAL INSTITUTE (A company limited by guarantee)

Although the need for additional necessary repairs, improvements and redecoration of the building became evident some time ago, the repairs to the fabric of the building and reinstatement were further delayed due to requirements by insurers (which were beyond the control of the charity). Some repairs were still to be completed at the end of the financial year. The reinstatement work was partially complete, and the reinhabiting of the building had only begun at the end of the financial year. We have planned for further investment in the building and subsidence project in the coming financial year, which includes addressing some unexpected repair and reinstatement issues that have been thrown into relief as a result of the works.

At the year end, the funds of the charity totalled £1,410,819 and were split as

Going Concern

The trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements; further details regarding the adoption of the going concern basis can be found in the Accounting Policies.

The trustees have considered the ongoing impact of the health and economic crisis alongside the Institute’s closure from January 2023-May 2024, including going concern implications. As the charity derives a good portion of its income from grants and investments it is not completely dependent on income generated through the activities based at the Institute, which was not open or operational due to building works to address subsidence. The income lost through the cessation of these activities is only partially mitigated by increased unrestricted donations helping to offset the financial impact. The impact of the cessation of some of the organisations core activities this year has been compounded by the cumulative impact of ongoing part and full building closures since March 2020 due to COVID restrictions.

The organisation is strategically utilising its financial reserves to address and facilitate a transformative development in its operations. The building project costs have been an investment in this future development. The trustees are working to a 3-5 year plan that would see a strategic return of the utilised reserves. This plan is in dialogue with the existing business plan and acknowledges the challenges the

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Docusign Envelope ID: 8F06F53F-5D56-4FAE-9ACE-41478DB5C3C6

SOUTH LONDON BOTANICAL INSTITUTE (A company limited by guarantee)

organisation has faced and the changes it needs to make. This approach focuses on increasing revenue from space hire, optimizing operational efficiency and strengthening programmes and partnerships to restore financial health and build a more resilient foundation for the future.

The Trustees have concluded that at the date of signing these accounts the Institute is confident of our going concern for the financial year end 31 March 2024.

b. Reserves Policy

Trustees review the reserves policy annually, with the primary purpose of maintaining the reserves at a sufficient level to ensure our financial resilience and sustainability, including protecting the SLBI against identified risks (see S.4, para. d. below Risk Management). The Trustees aim to strike the appropriate balance between ensuring a long-term sustainable financial position and using our available funds judiciously to fulfil our charitable mission. The policy is also designed to reflect the underlying risks facing the charity and to ensure that the charity has an appropriate level of reserves to:

The charity continues to hold all its investments with CCLA (COIF Charities Ethical Investment Fund) of £777,773 total assets, as laid out in the accounts, consist of endowed assets, restricted funds and general funds. The greater part of the general funds are designated for specific purposes and to mitigate risks. At 31 March 2024, the general fund (excluding designated funds) was £180,671. Of this, £121,900 is represented by long-term investments, leaving reserves freely available for any purpose the charity decides at £58,771.

The Trustees believe the Institute requires free reserves to cover 6 months running costs, including those currently or typically supported by grant-aid activities. This results in a free reserves target of £50,000.

The reserves target was deemed necessary because of uncertainty concerning income generation combined with increased competition in the grants funding environment. These reserves would allow the charity to minimise abrupt disruption to beneficiaries and staff in the event of closure. This level of free reserves is also in line with financial projections to pay a greater proportion of costs from general funds and reduce dependence on restricted funds.

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Docusign Envelope ID: 8F06F53F-5D56-4FAE-9ACE-41478DB5C3C6

SOUTH LONDON BOTANICAL INSTITUTE

(A company limited by guarantee)

The assets are made up as follows:

i. Endowments

The endowments are the largest part of the assets at 54%. At 31 March 2024, the endowments totalled £761,205, comprising: the historic building and its garden, valued at £508,911 reduced by amortisation of £12,723; fixed asset investments of £252,294.

The endowments benefit the SLBI through the use of the building and the income from the investments, and the availability of capital for the maintenance of the building. The SLBI cannot realise the endowment capital.

ii. Restricted Funds

Restricted funds of £109,552 at 31 March 2024 formed 7.7% of the assets. Whether grants or donations they must be used as intended by the grantor/donor and are not available for general use. In 2023-24 income from the Hume Education Centenary Fund was utilised to support the development of new activities for young people 1624.

iii. General Funds

The extended closure of the Institute, combined with essential capital works not covered by insurance, has impacted the charity's operations and income generation throughout 2023-24. The effects of this closure and expenditure have been further amplified by the ongoing impact of the global health, economic and climate crises. While the Institute will reopen in early 2024-25 the impact of the above is expected to continue into 2024-25 and 2025-26. To navigate this period, the trustees plan to utilize reserves in 2024-25 to cover operational costs while the charity focuses on capitalizing on its relaunch and rebuilding its income streams.

The total general funds (excluding the Designated Funds) of £180,671 at 31 March 2024 formed 12.8% of the assets. However long-term investments of £121,900 are held in a separate fund, leaving £58,771 as Free Reserves that satisfies the Reserves Policy.

Designated reserves of £359,391 formed 25.4% of the assets at 31 March 2024 to provide income necessary to ensure satisfactory maintenance of the building and gardens occupied by the Institute, such income also being necessary to maintain the library facilities and to enable educational facilities to be increased. The reserve policy regarding general funds (agreed in 2010-2011) was amended in the financial year 2018-2019 to ring-fence additional reserves to generate income to maintain the property and to support charitable educational activities.

The designated funds stand as follows

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SOUTH LONDON BOTANICAL INSTITUTE (A company limited by guarantee)

be increased for further public benefit. We have drawn on this fund, both to replenish the general fund and to meet ongoing staffing costs in 2023-24.

4. STRUCTURE, GOVERNANCE AND MANAGEMENT

a. Constitution

The company is a charitable company limited by guarantee and was set up by a Memorandum of Association on 4 July 1911.

There have been no changes in the objectives since the last annual report.

b. Method of appointment or election of Trustees

The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum and Articles of Association. Trustees are appointed by the members in general meeting. One third retires every year at the Annual General Meeting and may offer themselves for reappointment.

At the 2024 Annual General Meeting, the following Trustees will retire in accordance with the rotation, but being eligible will offer themselves for re-election: Emmanuel Asamoah, Gabriele Avendano Vargas, Marlowe Russell.

Melanie Harakis will retire in accordance with the rotation but will not offer herself for re-election. Roy Vickery resigned in this financial year. We thank both for their service to the SLBI.

c. Organisational structure and decision-making

The management of the Charity is carried out by Trustees who meet regularly and are advised by sub-groups appointed by the Trustees.

Following the amendment of the Memorandum and Articles (see paragraph 3a above), in 2021, the Trustees agreed to separate the roles of President and Chair. The President will concentrate on raising the profile of the SLBI with wider publics. Dr Maria S. Vorontsova took on the role of President in September 2022 and continues to serve.

The role of the Chair is to provide leadership to the Board of Trustees. Marlowe Russell and Michael Clarke served as Joint Chairs.

At the start of the year the sub-groups, consisting of Trustees and staff, focused areas of work in order to make recommendations to the Trustee Board. With the appointment of the Director most of these groups were phased out over the year to

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Docusign Envelope ID: 8F06F53F-5D56-4FAE-9ACE-41478DB5C3C6

SOUTH LONDON BOTANICAL INSTITUTE (A company limited by guarantee)

support a step change in our operations. The Governance group remains and meets twice a year and when needed on specific matters.

The financial management is carried out by the Honorary Treasurer, who chairs the Finance and Risk subcommittee, who meet quarterly and when needed on specific matters. An external (non-trustee) member of this committee commonly serves to give added scrutiny to financial processes and decision-making.

d. Risk management

i. Assessment of Risk

The Trustees recognise that there are risks to which the Charity is exposed. The Trustees keep all major risks to the organisation under regular review and this is seen as integral to the achievement of our strategic goals. The Trustees are satisfied that we have a formal review in place and consider new and emerging risks.

Risks with the highest potential impact:

ii. Mitigation of risks:

Systems have been established to mitigate known risks, including financial controls, employment procedures, agreements with partners and training. The Trustees keep proper accounting records and take reasonable steps for the prevention and detection of fraud and other irregularities. Health and safety, diversity, equity and inclusion and safeguarding are prioritised. Records and archives are securely stored, and policies and procedures are in place to ensure that electronic data is carefully protected.

The charity is managing these risks by Director and Trustee oversight of quarterly reporting against budget, future income key performance indicators and with monthly cash flow forecasting, to identify early trends of income shortfall. Income targets and budgets are set to achieve realistic returns on investments, and new business targets are identified. Our broad range of income streams with multiple donors reduces the risk of income shortfall. The charity aims to maintain sufficient reserves to cover any unexpected or short-term income shortfalls.

As the majority of the reserves are held in cash or easily accessible investments, the Trustees consider this satisfactory.

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Docusign Envelope ID: 8F06F53F-5D56-4FAE-9ACE-41478DB5C3C6

SOUTH LONDON BOTANICAL INSTITUTE (A company limited by guarantee)

5. THE FUTURE

Our four principal aims for the next two years remain as in the Business Plan 20212026:

The year 2024-25 will be another challenging one because of the longterm effects of the pandemic coupled with the extended closure due to the building works. Building work, reinstatement and reoccupation were three quarters of the way to completion at the end of 2023-24. The priorities for the SLBI in 2024-25 will be to maintain delivery, mitigate the impact of the moves and long-term closure on our deliverables and strategy and to set a longer-term strategy for rebuilding finances while reviewing and implementing relevant parts of the 2021-2026 business plan.

The year will include further strategic, consulting, planning and preparatory work to enable the SLBI to make the best use of the building and other resources in the immediate and longer terms.

Our budget for 2024-25 anticipates a significant deficit. This is based both on costs associated with the building work which were not realised this year, conservative estimates of earned and grant income, and on an agreed need to invest in the building, resources and staffing to relaunch the SLBI and to meet future aspirations.

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SOUTH LONDON BOTANICAL INSTITUTE (A company limited by guarantee)

More details about specific actions and developments are below.

6. FUNDS HELD AS CUSTODIAN

The Institute holds no funds as a custodian.

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Docusign Envelope ID: 8F06F53F-5D56-4FAE-9ACE-41478DB5C3C6

SOUTH LONDON BOTANICAL INSTITUTE (A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2024

7 HEALTH AND SAFETY

SLBI is committed to complying with all relevant health and safety legislation, and to promoting good health and safety practices amongst employees, volunteers and families. SLBI operates a cross functional Committee to review health and safety practices.

Mr E Asamoah, Hon Treasurer 28 October 2024

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Docusign Envelope ID: 8F06F53F-5D56-4FAE-9ACE-41478DB5C3C6

SOUTH LONDON BOTANICAL INSTITUTE (A company limited by guarantee)

TRUSTEES' RESPONSIBILITIES STATEMENT FOR THE YEAR ENDED 31 MARCH 2024

The Trustees (who are also directors of South London Botanical Institute for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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Docusign Envelope ID: 8F06F53F-5D56-4FAE-9ACE-41478DB5C3C6

SOUTH LONDON BOTANICAL INSTITUTE

(A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SOUTH LONDON BOTANICAL INSTITUTE (the 'company')

I report to the charity Trustees on my examination of the accounts of the company for the year ended 31 March 2024.

This report is made solely to the company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work or for this report.

RESPONSIBILITIES AND BASIS OF REPORT

As the Trustees of the company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

INDEPENDENT EXAMINER'S STATEMENT

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

  1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

I have no concerns and have come across no other 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.

Signed: Dated: 28 October 2024 P M Landergan FCA.

Landergan & Co. 26 Burney Street, London, SE10 8EX

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Docusign Envelope ID: 8F06F53F-5D56-4FAE-9ACE-41478DB5C3C6

SOUTH LONDON BOTANICAL INSTITUTE

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024

Endowment
funds
Note
2024
£
INCOME AND ENDOWMENTS
FROM:
Grants and donations
2
-
Other trading activities
3
-
Investments
4
-
Other income
5
-
TOTAL INCOME AND
ENDOWMENTS
-
EXPENDITURE ON:
Raising funds
-
Charitable activities
6-8
12,723
TOTAL EXPENDITURE
12,723
NET INCOME /
(EXPENDITURE) BEFORE
INVESTMENT
GAINS/(LOSSES)
(12,723)
Net gains/(losses) on
investments
22,570
NET INCOME /
(EXPENDITURE) BEFORE
TRANSFERS
9,847
Transfers between Funds
16
29,634
NET INCOME /
(EXPENDITURE) BEFORE
OTHER RECOGNISED
GAINS AND LOSSES
39,481
NET MOVEMENT IN FUNDS
(CONTINUED)
39,481
RECONCILIATION OF FUNDS:
Total funds brought forward
721,724
TOTAL FUNDS CARRIED
FORWARD
761,205		 Restricted
funds
Unrestricted
funds
2024
£
2024
£
57,416
31,194
-
6,559
-
24,924
-
12,355
57,416
75,032
-
7,096
32,008
184,966
32,008
192,062
25,408
(117,030)
8,400
38,167
33,808
(78,863)
-
(29,634)
33,808
(108,497)
33,808
(108,497)
75,744
648,559
109,552
540,062		 Total
funds
2024
£
88,610
6,559
24,924
12,355
132,448
7,096
229,697
236,793
(104,345)
69,137
(35,208)
-
(35,208)
(35,208)
1,446,027
1,410,819		 Total
funds
2023
£
48,476
9,939
25,400
24,691
108,506
3,232
181,249
184,481
(75,975)
(50,503)
(126,478)
-
(126,478)
(126,478)
1,572,505
1,446,027

The notes on pages 21 to 38 form part of these financial statements.

Page 19

Docusign Envelope ID: 8F06F53F-5D56-4FAE-9ACE-41478DB5C3C6

SOUTH LONDON BOTANICAL INSTITUTE (A company limited by guarantee) REGISTERED NUMBER: 116643

BALANCE SHEET AS AT 31 MARCH 2024

Note
FIXED ASSETS
Tangible assets
12
Investments
13
CURRENT ASSETS
Debtors
14
Cash at bank and in hand
CREDITORS:amounts falling due within
one year
15
NET CURRENT ASSETS
NET ASSETS
CHARITY FUNDS
Endowment funds
16
Restricted funds
16
Unrestricted funds
16
TOTAL FUNDS		 £
29,439
112,683
142,122
(17,987)		 2024
£
508,911
777,773
1,286,684
124,135
1,410,819
761,205
109,552
540,062
1,410,819		 £
9,012
112,163
121,175
(3,823)		 2023
£
492,000
836,675
1,328,675
117,352
1,446,027
721,724
75,744
648,559
1,446,027

The company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The Trustees consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.

The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements were approved and authorised for issue by the Trustees on 28 October 2024 and signed on their behalf, by:

Mr E Asamoah Hon Treasurer

Ms M Russell Co - Chair

The notes on pages 21 to 38 form part of these financial statements.

Page 20

Docusign Envelope ID: 8F06F53F-5D56-4FAE-9ACE-41478DB5C3C6

SOUTH LONDON BOTANICAL INSTITUTE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. ACCOUNTING POLICIES

1.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared 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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

South London Botanical Institute meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

1.2 COMPANY STATUS

The company is a company limited by guarantee. The members of the company are the Trustees named on page 1 . In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.

1.3 FUND ACCOUNTING

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund are set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors and grantors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund are set out in the notes to the financial statements.

The endowments are held in the Hume Endowment Fund, whose governing documents were issued by the Charity Commissioners on 1 March 2005. Under the terms of the governing documents, the endowment funds benefit the SLBI through the use of the building, the income from the investments and the availability of capital for the maintenance of the building. The SLBI cannot realise the endowment capital

Investment income, gains and losses are allocated to the appropriate fund.

Page 21

Docusign Envelope ID: 8F06F53F-5D56-4FAE-9ACE-41478DB5C3C6

SOUTH LONDON BOTANICAL INSTITUTE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. ACCOUNTING POLICIES (continued)

1.4 INCOME

All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

For legacies, entitlement is taken as the earlier of the date on which either: the company is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the company has been notified of the executor's intention to make a distribution. Where legacies have been notified to the company, or the company is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

Donated services or facilities are recognised when the company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the company of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognised and refer to the Trustees' report for more information about their contribution.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the company which is the amount the company would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Page 22

Docusign Envelope ID: 8F06F53F-5D56-4FAE-9ACE-41478DB5C3C6

SOUTH LONDON BOTANICAL INSTITUTE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. ACCOUNTING POLICIES (continued)

1.5 EXPENDITURE

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 allocated on the portion of the asset’s use.

Direct costs are those costs incurred in meeting the objectives of the charity through the provision of facilities, resources and activities. Support costs are those costs incurred by the organisation in maintaining and administering the property and charity. Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Charitable activities and Governance costs are costs incurred on the company's educational operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.

All expenditure is inclusive of irrecoverable VAT.

1.6 TANGIBLE FIXED ASSETS AND DEPRECIATION

All assets costing more than £750 are capitalised.

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the statement of financial activities incorporating income and expenditure account.

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is not charged on freehold land. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Page 23

Docusign Envelope ID: 8F06F53F-5D56-4FAE-9ACE-41478DB5C3C6

SOUTH LONDON BOTANICAL INSTITUTE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. ACCOUNTING POLICIES (continued)

1.7 INVESTMENTS

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading ‘Gains/(losses) on investments’ in the statement of financial activities incorporating income and expenditure account.

1.8 OPERATING LEASES

Rentals under operating leases are charged to the statement of financial activities incorporating income and expenditure account on a straight-line basis over the lease term.

1.9 INTEREST RECEIVABLE

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank.

1.10 PENSIONS

The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

1.11 HUME ENDOWMENT FUND

Under the Hume Endowment Fund listed investments are held for the benefit of the Institute who receive the income.

The listed investments of the endowment and the Trust property are shown under note 12. Both assets classes have been brought into the financial statements at their market value at the accounting date as no cost price information is available to the Trustees.

The charity has rent free use of the property in Norwood as a result of the settlement made by the late Mr A O Hume.

1.12 DEBTORS

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.13 CASH AT BANK AND IN HAND

Cash at bank and in hand includes cash and short term deposit investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 24

Docusign Envelope ID: 8F06F53F-5D56-4FAE-9ACE-41478DB5C3C6

SOUTH LONDON BOTANICAL INSTITUTE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. ACCOUNTING POLICIES (continued)

1.14 LIABILITIES AND PROVISIONS

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

1.15 FINANCIAL INSTRUMENTS

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2. INCOME FROM DONATIONS, GRANTS

Endowment
funds
2024
£
Grants and Donations
-
Statutory Grants
-
Total donations and legacies
-
Total 2023
-		 Restricted
funds
Unrestricted
funds
2024
£
2024
£
55,114
31,194
2,302
-
57,416
31,194
40,154
8,322		 Total
funds
2024
£
86,308
2,302
88,610
48,476		 Total
funds
2023
£
48,476
-
48,476

3. FUNDRAISING INCOME

Endowment
funds
2024
£
Plant and other sales
-
-
Total 2023
-		 Restricted
funds
Unrestricted
funds
2024
£
2024
£
-
6,559
-
6,559
-
9,939		 Total
funds
2024
£
6,559
6,559
9,939		 Total
funds
2023
£
9,939
9,939

Page 25

Docusign Envelope ID: 8F06F53F-5D56-4FAE-9ACE-41478DB5C3C6

SOUTH LONDON BOTANICAL INSTITUTE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

4. INVESTMENT INCOME

Endowment
funds
2024
£
Investment income -
investment properties
-
Investment income - listed
investments
-
Investment income - cash
-
-
Total 2023
-
OTHER INCOMING RESOURCES
Endowment
funds
2024
£
Subscriptions
-
Course fees received
-
Hire charges
-
-
Total 2023
-		 Restricted
funds
Unrestricted
funds
2024
£
2024
£
-
3,165
-
20,980
-
779
-
24,924
-
25,400
Restricted
funds
Unrestricted
funds
2024
£
2024
£
-
8,008
-
4,147
-
200
-
12,355
-
24,691		 Total
funds
2024
£
3,165
20,980
779
24,924
25,400
Total
funds
2024
£
8,008
4,147
200
12,355
24,691		 Total
funds
2023
£
2,301
22,811
288
25,400
Total
funds
2023
£
14,766
8,465
1,460
24,691

5. OTHER INCOMING RESOURCES

Page 26

Docusign Envelope ID: 8F06F53F-5D56-4FAE-9ACE-41478DB5C3C6

SOUTH LONDON BOTANICAL INSTITUTE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

6. DIRECT COSTS

Gardeners' fees
Community
Engagement:
Governance
Project
Program Costs
Wages and
salaries
Total 2023
Gardeners' fees
Community Engagement:
Governance Project
Program Costs
Wages and salaries
Total 2023		 L S V
£
215
-
-
545
2,335
3,095
11,675
Walcot
£
-
-
-
-
600
600
-		 NLA4A
£
-
-
-
3,979
5,318
9,297
135
WNC
£
-
-
-
-
3,177
3,177
-		 Operations
£
17,236
-
-
7,126
58,802
83,164
43,392
H C E F
£
-
-
-
-
8,500
8,500
-		 Smaller
Projects
£
-
-
-
1,011
2,178
3,189
16,650
Total
2024
£
17,451
-
-
12,661
81,993
112,105
71,852		 P S
£
-
-
-
-
1,083
1,083
-
Total
2023
£
13,597
5,846
2,610
6,360
43,439
71,852

Restricted funds comprise;

L S V = Lambeth Social Value Trust, H C E F = Hume Centenary Education Fund., NLA4A = National Lottery Awards For All, P S = Postcode Society Trust, WNC = West Norwood Cemetary, Smaller Projects contains funds of less than £6,000.

.

Page 27

Docusign Envelope ID: 8F06F53F-5D56-4FAE-9ACE-41478DB5C3C6

SOUTH LONDON BOTANICAL INSTITUTE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

7. SUPPORT COSTS

Major Repairs
Office Costs
Bank charges
Light & heat
Building rates & insurance
Wages and salaries
National insurance
Pension cost
Depreciation
Total 2023
Major Repairs
Office Costs
Bank charges
Light & heat
Building rates & insurance
Wages and salaries
National insurance
Pension cost
Depreciation
Total 2023		 L S V
NLA4A
£
£
-
-
220
478
-
-
-
-
-
-
-
-
-
-
-
-
-
-
220
478
-
-
PS
Endowment
Fund
£
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
12,723
-
12,723
23,917
12,000		 Operations
£
43,190
8,364
674
4,862
7,734
19,540
4,943
2,272
-
91,579
67,638
Total
2024
£
43,190
9,129
674
4,862
7,734
19,540
4,943
2,272
12,723
105,067
-		 Smaller
Projects
£
-
67
-
-
-
-
-
-
-
67
-
Total
2023
£
23,380
16,210
1,165
3,111
5,551
44,189
(3,706)
1,655
12,000
103,555

Restricted funds comprise;

L S V = Lambeth Social Value Trust, H C E F = Hume Centenary Education Fund., NLA4A = National Lottery Awards For All, P S = Postcode Society Trust, WNC = West Norwood Cemetary, Smaller Projects contains funds of less than £6,000.

Page 28

Docusign Envelope ID: 8F06F53F-5D56-4FAE-9ACE-41478DB5C3C6

SOUTH LONDON BOTANICAL INSTITUTE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

8. GOVERNANCE COSTS

GOVERNANCE COSTS
Endowment
funds
2024
£
Independent examiners fee
-
Professional fees
-
-		 Restricted
funds
Unrestricted
funds
2024
£
2024
£
-
3,300
2,302
6,923
2,302
10,223		 Total
funds
2024
£
3,300
9,225
12,525		 Total
funds
2023
£
3,000
2,842
5,842

9. NET INCOME/(EXPENDITURE)

This is stated after charging:

2024 2023
£ £
Depreciation of tangible fixed assets:
- owned by the charity 12,723 12,000
Independent examiners fees - Accounts Examination 3,300 3,000
Independent examiners fees - Payroll 540 540

During the year, no Trustees received any remuneration, benefits in kind or the reimbursement of expenses (2023 - £NIL)

10. INDEPENDENT EXAMINER'S REMUNERATION

The Independent Examiner's remuneration amounts to an Independent Examination fee of £3,300 (2023 - £3,000), and payroll services of £ 540(2023 - £540).

Page 29

Docusign Envelope ID: 8F06F53F-5D56-4FAE-9ACE-41478DB5C3C6

SOUTH LONDON BOTANICAL INSTITUTE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

11. STAFF COSTS

Staff costs were as follows:
2024
£
Wages and salaries
105,155
Social security costs
4,943
Other pension costs
2,272
112,370
The average number of persons employed by the company during the year was as follows:
2024
No.
Project delivery and Administration
6
Average headcount expressed as a full time equivalent:
2024
No.
Project delivery and Administration
4		 2023
£
87,628
(3,706)
1,655
85,577

2023
No.
4
2023
No.
2

No employee received remuneration amounting to more than £60,000 in either year.

Page 30

Docusign Envelope ID: 8F06F53F-5D56-4FAE-9ACE-41478DB5C3C6

SOUTH LONDON BOTANICAL INSTITUTE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

12. TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
COST
At 1 April 2023
Additions
At 31 March 2024
DEPRECIATION
At 1 April 2023
Charge for the year
At 31 March 2024
NET BOOK VALUE
At 31 March 2024
At 31 March 2023		 Freehold
property
£
600,000
29,634
629,634
108,000
12,723
120,723
508,911
492,000		 Centenary
Mosaic
£
4,150
-
4,150
4,150
-
4,150
-
-		 Equipment
£
3,782
-
3,782
3,782
-
3,782
-
-		 Total
£
607,932
29,634
637,566
115,932
12,723
128,655
508,911
492,000

The Freehold property, part of the Hume Endowment Fund, is stated at its last valuation plus additional works at cost. Under FRS102 this now regarded as its deemed cost.

Page 31

Docusign Envelope ID: 8F06F53F-5D56-4FAE-9ACE-41478DB5C3C6

SOUTH LONDON BOTANICAL INSTITUTE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

13. FIXED ASSET INVESTMENTS

COST
At 1 April 2023
Additions
Disposals
At 31 March 2024
REVALUATIONS
At 1 April 2023
Charge for the year
At 31 March 2024
NET BOOK VALUE
At 31 March 2024
At 31 March 2023
HISTORICAL COST
INVESTMENTS AT COST COMPRISE:
2024
£
Listed investments
777,773		 Listed
securities
£
836,675
10,461
(132,289)
714,847
-
62,926
62,926
777,773
836,675
847,321
2023
£
836,675

All the fixed asset investments are held in the UK and are quoted on the United Kingdom Stock Exchange.

The Investments comprise Income Units managed by COIF and are a mixture of Income and Accumulation Units.

The allocation between the various funds can be found in Note 17.

14. DEBTORS

Trade debtors
Prepayments and accrued income
Tax recoverable		 2024
£
21,500
5,156
2,783
29,439		 2023
£
1,000
4,805
3,207
9,012

Page 32

Docusign Envelope ID: 8F06F53F-5D56-4FAE-9ACE-41478DB5C3C6

SOUTH LONDON BOTANICAL INSTITUTE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Other taxation and social security
Creditors
Accruals and deferred income		 2024
£
4,503
2,722
6,862
3,900
17,987		 2023
£
-
283
-
3,540
3,823

16. STATEMENT OF FUNDS

STATEMENT OF FUNDS - CURRENT YEAR

Balance at
1 April 2023
£
DESIGNATED FUNDS
Property & Garden
Maintenance Fund
150,000
Running Costs Fund
250,000
Youth education
10,595
Special purposes fund
335
Subsidence & Building
Refurbishment
91,620
502,550
GENERAL FUNDS
General Funds
118,163
Investments
27,846
146,009
Total Unrestricted funds
648,559
ENDOWMENT FUNDS
Hume Endowment Fund
721,724		 Income Expenditure
£
£
-
-
-
-
-
-
-
-
-
(43,190)
-
(43,190)
75,032
(148,872)
-
-
75,032
(148,872)
75,032
(192,062)
-
(12,723)		 Transfers
in/out
£
(93,455)
(70,000)
-
(335)
63,821
(99,969)
14,448
55,887
70,335
(29,634)
29,634		 Gains/
(Losses)
£
-
-
-
-
-
-
-
38,167
38,167
38,167
22,570		 Balance at
31 March
2024
£
56,545
180,000
10,595
-
112,251
359,391
58,771
121,900
180,671
540,062
761,205

Page 33

Docusign Envelope ID: 8F06F53F-5D56-4FAE-9ACE-41478DB5C3C6

SOUTH LONDON BOTANICAL INSTITUTE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

16. STATEMENT OF FUNDS (continued)

RESTRICTED FUNDS

Finnis
Thriving Norwood
Walcot
West Norwood Cemetary
Hume Centenary
Education Fund
Herbarium Cabinet
Rare Books
CLIPS Kitchen Grant
Norwood Forum
Postcode Society Trust
Lambeth Social Value
Fund
National Lottery Awards 4
All
Total of funds		 -
-
-
-
56,078
-
1,539
3,619
325
1,083
3,325
9,775
75,744
1,446,027		 2,000
2,480
14,698
25,475
10,461
2,302
-
-
-
-
-
-
57,416
132,448		 (441)
(2,480)
(600)
(3,177)
(8,500)
(2,302)
-
-
(325)
(1,083)
(3,325)
(9,775)
(32,008)
(236,793)		 -
-
-
-
-
-
-
-
-
-
-
-
-
-		 -
-
-
-
8,400
-
-
-
-
-
-
-
8,400
69,137		 1,559
-
14,098
22,298
66,439
-
1,539
3,619
-
-
-
-
109,552
1,410,819

The Property and Garden Maintenance Fund provides reserves to ensure the proper maintenance will always be available to the Institute's Property and Gardens. This will also include certain costs associated with the maintenance.

The Running Costs Fund is to provide reserves to cover the general operations and administration of the Institute. The Trustees will evaluate the fund at the end of each year and make any necessary transfers to or from this fund.

The Subsidence and Building Renovation Fund is to provide a capital reserve to meet costs associated with subsidence repairs and other major renovation projects.

The Trustees acknowledge that these three funds will have a direct impact on the funds available to be used for general development of the Institute but the three designated funds noted above will mitigate the exposure to risks.

The Designated Funds hold the "General Investments" with the balance of the Investments being held in another "General Fund" to enable the "Free Reserves" to be identified more readily.

The Youth Education and the Special purposes funds have been set up to provide reserves for youth work and to fund discretionary projects that may arise on occasions

A key to the restricted funds is shown at the foot of note 6: Direct Costs.

Page 34

Docusign Envelope ID: 8F06F53F-5D56-4FAE-9ACE-41478DB5C3C6

SOUTH LONDON BOTANICAL INSTITUTE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

16. STATEMENT OF FUNDS (continued)

STATEMENT OF FUNDS - PRIOR YEAR

DESIGNATED FUNDS
Property & Garden
Maintenance Fund
Running Costs Fund
Youth education
Special purposes fund
Subsidence & Building
Refurbishment
GENERAL FUNDS
General Funds
Investments
Total Unrestricted funds
Hume Endowment Fund
RESTRICTED FUNDS
Hume Centenary
Education Fund
Rare Books
CLIPS Kitchen Grant
Grow Back Greener
Norwood Forum
NLHF
Lambeth Grow Wild -
Slade Green
Postcode Society Trust
Arts Council England -
London Community
Foundation Jubilee Fund
Lambeth Social Value
Fund
National Lottery Awards 4
All
Natural England		 Balance at
1 April 2022
£
150,000
250,000
7,692
335
115,000
523,027
141,391
65,149
729,567
745,779
57,223
1,539
3,619
-
4,955
4,223
600
25,000
-
-
-
-
97,159		 Income
£
-
-
2,925
-
-
2,925
65,427
-
68,352
-
-
-
-
3,824
1,000
-
-
-
4,420
15,000
9,910
6,000
40,154		 Expenditure
£
-
-
(22)
-
-
(22)
(120,082)
-
(120,104)
(12,000)
-
-
-
-
(5,630)
-
(600)
(23,917)
(4,420)
(11,675)
(135)
(6,000)
(52,377)		 Transfers
in/out
£
-
-
-
-
(23,380)
(23,380)
31,427
-
8,047
-
-
-
-
(3,824)
-
(4,223)
-
-
-
-
-
-
(8,047)		 Gains/
(Losses)
£
-
-
-
-
-
-
-
(37,303)
(37,303)
(12,055)
(1,145)
-
-
-
-
-
-
-
-
-
-
-
(1,145)		 Balance at
31 March
2023
£
150,000
250,000
10,595
335
91,620
502,550
118,163
27,846
648,559
721,724
56,078
1,539
3,619
-
325
-
-
1,083
-
3,325
9,775
-
75,744

Page 35

Docusign Envelope ID: 8F06F53F-5D56-4FAE-9ACE-41478DB5C3C6

SOUTH LONDON BOTANICAL INSTITUTE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

16. STATEMENT OF FUNDS (continued)

Total of funds 1,572,505 108,506 (184,481) - (50,503) 1,446,027

SUMMARY OF FUNDS - CURRENT YEAR

Balance at
1 April 2023
Income Expenditure
£
£
£
Designated funds
502,550
-
(43,190)
General funds
146,009
75,032
(148,872)
648,559
75,032
(192,062)
Endowment funds
721,724
-
(12,723)
Restricted funds
75,744
57,416
(32,008)
1,446,027
132,448
(236,793)
SUMMARY OF FUNDS - PRIOR YEAR
Balance at
1 April 2022
Income
Expenditure
£
£
£
Designated funds
523,027
2,925
(22)
General funds
206,540
65,427
(120,082)
729,567
68,352
(120,104)
Endowment funds
745,779
-
(12,000)
Restricted funds
97,159
40,154
(52,377)
1,572,505
108,506
(184,481)		 Transfers
in/out
£
(99,969)
70,335
(29,634)
29,634
-
-
Transfers
in/out
£
(23,380)
31,427
8,047
-
(8,047)
-		 Gains/
(Losses)
£
-
38,167
38,167
22,570
8,400
69,137
Gains/
(Losses)
£
-
(37,303)
(37,303)
(12,055)
(1,145)
(50,503)		 Balance at
31 March
2024
£
359,391
180,671
540,062
761,205
109,552
1,410,819
Balance at
31 March
2023
£
502,550
146,009
648,559
721,724
75,744
1,446,027

Page 36

Docusign Envelope ID: 8F06F53F-5D56-4FAE-9ACE-41478DB5C3C6

SOUTH LONDON BOTANICAL INSTITUTE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

17. ANALYSIS OF NET ASSETS BETWEEN FUNDS

ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR

Endowment
funds
2024
£
Tangible fixed assets
508,911
Fixed asset investments
252,294
Current assets
-
Creditors due within one year
-
761,205
ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR
Endowment
funds
2023
£
Tangible fixed assets
492,000
Fixed asset investments
229,724
Current assets
-
Creditors due within one year
-
721,724
18.
CAPITAL COMMITMENTS		 Restricted
funds
Unrestricted
funds
2024
£
2024
£
-
-
66,439
459,040
43,271
98,851
(158)
(17,829)
109,552
540,062
Restricted
funds
Unrestricted
funds
2023
£
2023
£
-
-
56,078
550,873
19,666
101,509
-
(3,823)
75,744
648,559		 Total
funds
2024
£
508,911
777,773
142,122
(17,987)
1,410,819
Total
funds
2023
£
492,000
836,675
121,175
(3,823)
1,446,027

At 31 March 2024 the company had capital commitments as follows:

Contracted for but not provided in these financial statements

2024 2023
£ £
90,000 115,000

19. PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund through the Auto Enrolment provisions. The pension cost charge represents contributions payable by the company to the fund and amounted to £2,272 (2023 - £1,655). Contributions totalling £508 (2023 - £283) were payable to the fund at the balance sheet date and are included in creditors.

Page 37

Docusign Envelope ID: 8F06F53F-5D56-4FAE-9ACE-41478DB5C3C6

SOUTH LONDON BOTANICAL INSTITUTE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

20. OPERATING LEASE COMMITMENTS

At 31 March 2024 the total of the charity’s future minimum lease payments under non-cancellable operating leases was:

2024 2023
£ £
AMOUNTS PAYABLE:
Within 1 year 912 912

21. RELATED PARTY TRANSACTIONS

In the course of the year, membership was 359 (2023 - 401).

One of the Trustees made a short term loan of £6,862 (2023 - £Nil) to the Institute due to a technical issue. No interest was paid and it has been repaid

Page 38