Moore Thompson FniFted Advisers Chart8r8d Accnunlanls SPRINGFIELDS HORTICULTURAL SOCIETY LIMITED Financial Statements for thc year ended 31 Dcccmber 2024 Charlty Number- 253736 Company Number- 876136
Springfields Horticultural Society Limited Contents Page Council members. report 1to3 Auditors, report 4107 Slalement of linancial activities (including income and expenditure account) Balance sheet Notes lo the financial slalemenls 1110 19 The following page$ do not form part of the finaneial statements Detailed income and expenditure accounts 201021 Fulld comparatives 231025
Springfields Horticultural Society Limited Charity Information Secrelafy M Durose (appointed 29 January 20251 D Norlon (resigned 29 January 20251 Company number 876136 Charity number 253736 Registered office Springfields Festival Gardens f.Amg.IgAtp Spalding Lincs. PE12 6EU Auditors Moore Thompson Chartered Accountants and Registered Auditors Bank House Broad Street Spalding Lincs PE11 1TB Business address Springfields Gardens Camel Gale Spalding Lincs. PE12 6EU Bankers HSBC Bank ple Spalding Branch 8 Market Place Spalding Lincs Solicitors Messrs Roythorne 8 Co Enterprise Way Spalding Lincs. PE11 3YR
SPRIN('FIF,I,DS H()RTIC'IILTIIRAL £i()("Ii,;'rY I,IMITF,D
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.%PRINI:FIF.I.DS IIORTICIII.TURAI, SOC'.IF,TY LIMITF,11 Qouiicil Meinb¢15 R¢wirt I'caT Eiidfd .} I si_D_cc¢inb¢T 0_24 lalcnicnl of thc cliarily l(?r lh¢ peTiiid ended Il st l)c¢ember ?n24. l.egal Sfalli (Ihjcrtives xnil Artii itie% nf lh¢ C'hrifi- hr£1tLhe% ancl in pat1iLiilar Ilic ciiliiv81inii and dcv¢lnpinenl ol'llll V£1rii%iie% i)r fliiwer% 4rowti from hillb% 71)d corni%. Tlic SnLiely fiilfils ihese i)bieclive% Ihroiigh nianaging and dcv¢lnpinLT (iiir I S.aLre landscaped gardens iii Spaldiiii?. open yeaT-r(iiind ivtih frcc puhlic aicess. while liiilding dr8plays and shnws ()f hortlLiiliiiral pNi&uce and dcliveriny? cdiJcllli(?n pnijecls with coinmiinily organi%ali<)n%. particularly schonls. Strurture. Ivov¢rnanre and Managcmtnt The { Iiiincil meinber% %ervin¥ diiring the vcar and sincc Ilie ycar-en(I were as follows'.- r A M Jaiiqcn. c'hairpe0 Ir l) Kii!%cii. Vice ('hairpersi)11 r.1 W Wc11ke Mr D l.. R¢ynolds Mrs % A l.anih Ir R Flarnian .IP The Lharilv's Artillcs Trf Asl)cIall1)n di) ni)t reqiiirc { Iiiincil mcinbei% li) reiire bj rDlpliDii.'fhe ('hief i.'xeciiiivc and eLrelnry. Mr-. M DIiTITr"pe. Ipp¢biiiled bv Ihc IriJ41ccq. IE rexpi)n4ible fi)r day-lo-dHy tnHii#yemenl. MTS L)Iirn4e lryjk nver frcin) Ihc i)r¢NI()us (-1..l) aiid Seireiarv Mr l)Hvid N¢irt¢)ii in NÉivL'irher ?n24. The Trii£tee4 Ivoiild like l(> reclbrd Ihcir thank lo Mr D Norliiii for hi£ 2$ ycarq nf pwrelltrnt Éprviep dp.dicAlinii. 1& nd [)12c In Ilie naliire lif tlie hiiEineK4 #clivilieK cgrried on hy soinc (If Ihe LhaTlty'4 Triisle¢E_ Ihp c'harily £nmptlTnes Acqiiire% Ilic ( <Triin¢il .2nd qppriivod by Ihc C-harily l <)mmi%Rinn .rynd aro CLinJucled al markel vryliit TrAdin2 %iihsiili#r} Tlie Llii?rily Iipcrales a wlicilly i)K%'llLd Ircidiiig siihsidiary. %prin¥ticldq 11.-nteTprise%l l.imilcd. wliich ..v¢nltr & ( (Inference C'cntrc. orbini4inbr 4hoiv8. e¥liibil1()n. And evento In generalv fiinAi fiirthprinL the iharfly's i)bjcclive5. Rttyiew nf Arlivitlts #nil PerformAncc -rhe LhHTiIy's IllAin inLI)Ine q(IllTLe cnniiniie% lo bc Ihc '( IHrdciis MAinlciiaiicc %iiin" ne¥iiiiaied with dev¢l()pincni Pdrtnlr I¢11] Review re¥iricled reserve. sel up lo operate Ilie liArdeiis fvIAinieiiaiic¢ ( (InifaLI.
SPRIN(:Tr ITr:I,I)% H()RTICIII.TIIRAI. socir,TY I.IMITF.D C'vuriril Meiiiber5 Re on l-¢ar Liid¢d JI 51 DeLLn)btr 2024 l)elails ()f the charil! % finanLial acliilicq for the year L?Te sei i)111 on Pi1¥ie 8. I lie cliartly s Ira(Iiny giih%idiarv Liiiiipany. %piin¥li¢lds 11.,nlerprTscsl l.imiled. niade d lax profil f()r Ilie yc?L T of £47.200 Ri8k Mxn#%¢m¢nt cdiiiHtii)ii for viEilor%. children+ c?i¥ialciJr gardeners. and Ihe piiblic. Maii¢1gicinciil ci)nlrol sy%lems nicinage ideniilicd risks. K¢%erves Reserve level cleLiSi(Ins cnn%ider expenililiire fliJ('tIJAlii)n% Anil <'2piixI PxpenAitiJrp rpqiilrpmviitE Ye#T.end available rosorve C()nlPTT%C% deprcLiaied garden eqiiipinciil and availahlc cash l()r fiiiLirc lJi2rdcn8 Mi2inten{?nLc Siinl expenililiire. Nqii%l ili<iril! reseT¢S are held iviiliin Ilic LTardcnq rcdcvcl()pnienl dcprccialioii valkie and i?rc nnl ei?sily liquidaied a%%ci8. p()Iciilially free rescrve5. Iviih Appr(Ixinialely £6(b.nno iii available eagh f(Ir nii)nihlv i)peralions. Piihli4' hencfil 'ree Yeigr-Roiind l iihlic Acce4s l() l S aLre% of laiidslapcd liardcii awarcness ol. l.inc(Ilnsliirc's (lafTiidil gTOIVTn¥. ' iiliire l)¢vtltspm¢nt C•aNltn tr.nliilinll ('IirnAte AdAptAtinn With a new ('I'.(I In plf*Ct trom Nowember 211•4. Ihe I riislccq qrc cxpceting piaLIiLes. 'T-hi% appn)acli ivill rcspect Ilic ¥1< TrtcnE' cstablished herFt<igTC ivliile iipili11inu displilys In rcflcct Inodcni RiiiAI Iltsrti¢iilliirxl Sn¢ietv Parlnership - ()ii Jaiiiiary 1. 21125 %priiiLfield% Peslival CJarden% will bec()IMe a pAriner '.IlsnB tlic piihlic iii Ihiq TCLJHT(l. ¢n%iirin¥ ()ur g?1 rdens scrvc as exernplars ol-mi)dern. wilh ci)IMmeTcial partiicrs iTrnd %iippliefg.
PRIN('FIF.I.D.% FI()RTIC.'IILTIIIiAL f4()C'IF.TV LIMITF,D Qvuii¥il M¢iiibii ) RivI I l-L(ii EiidLd I l il Dririiili¥i 024 Viiiiirt l)cvelTrpmeni i¢oniinuedi (ltIn1jed Strategir VartnerEhip -Ilie Tni%iees arid nciv ('[.'() Ivill L(Inliiiiic to collcihorll IL with the (Iwners of i?riii£ficld% ()uilcl 4hoppins l.ei%irrc lo fDgllTC cfJntlTiiJcd mainlcnancc and ¢ (?f Ihc ¥ardcn5 for £Aiiliiig cvciitfi fi)i all I niincil Momber% ke*portrsihilitie 'I'he l (IiiTILil Tiieiiihcrs Iwh(i arc als1) Ihc dircclnrs nf the chariicihle coiiipanw f()r Ihe piirp(18e (If cnmpany law} i?re rc%piinqihlc for prcparino Ilie Annijal Re)rt anil Ihe linancial slHlcinciils in accordanLe with applicahle law.4 And lJniled inttdom AiLI)Iiiiling Sian(lar(l% 11 Iniie(l kind(r Cicncrallv Acccplcd Accoiinliiig I'r£Trclicel. observ¢ Ihe mcl111)ds aiid principle% In Ihe I'harilie% %()KlJ 2(1151 l.KS11121'. prepare Ilie Iinaiicial stal¢inenls on Ilic cc)nccrn basis unlc.%8 il is inappr(ipriale ti) presiiiiie Ih47t Ihc %.%el% of I li1% rermirt is prcpare(l in acci)rdanLe wilh the speLittl pri)wi%ion% (If Part l f of the ( ompanies Act 200() relaliiig lo %mall I liis rert was appi(Ivcd by %pi-iii!Ificlds C i)IinLil oli Il'hicl. l..xeiiJliv¢ & SeLTelaryl
SPRIN(:FIF.LDS H()RTIC'.IIL'I'IIRAL S()CIF.TV LIMITF.I) Indepeiideni Audii()r'% Kc f()1 Ihc i¢ar endcd.) I si DeLeinber 2024 (In l() Ihc Mcnibcrs (IpiniDn give Iriie and fxir view (Il the flalc of thc charitable Colnpany, 47ffairs aq al I l %t l)cccmhcr )024 illl(1 c)f its llave heen pr(>perlv prepare(l in aLC(IrdanLC with I Iniled KiiiRdiiin lieneTally Acceplcd ALcountin¥ l)rilcIicc: h?vc lleen prepare(l iii aiL()rdanic willi the reqiiireineiil% c)f Ilie C-oiiipaniLs Ail 2006. Bxfii% for iipinifplb slatcnicnls scclioii Dt niir rcport. Nl'c arc Independcnt ol the cliaritahlc Loiiipany Iii accnrdancc with Ihc clhical r¢qiiirenients liave ()hiained 18 8ijffiiieiil and apprc)priale Ic) PTI)vide A hasi% flir oiir opinion. C nnrlii4innq relalinz tlk 2niny cnnrèrn tCC5' Iise of ¥>(iins ci)nccrn baSlJ of occounlins in Ihc Ili?scd nn th¢ Wiirk w¢ hAvc pcrfftrined. we liavc Identilicd anv InatcriRI iiiicert£inlies iel#lin4 lo evenl.< c)Y Ll)ndilii)n%. (Iiir Te%ponsibililies and the Tc1151hl17tles Trf Ihc Inislees wilh respeLI Ii) ¥T()inL) Loncern are de%crtbed in Ihc Tclcvant %eLliDns 1)r Ihis rew)n. ()Iher infnrmAlit)n I'lie 11ihLThf Inf(¥rinli(In Ci)mpri%eq the iiiforiiialion incliidod In the tTiJslees #nnijxl rep(>rt. other than the finaneigl gtatenienls Wc hHvp niiihin¥ li¥ rppi)rt In this TPVHTd
PRIN(:FJF,I,DS 141)RTIC.'IJI.TIIRAI, %()CIF,TY LIMITF,I) Indcpcildciil Audiiiir'% Kep()ri Iii Ilic McinbcTS lor ilie year elided .1 I si DeLeiMbei 21124 Ilpininn% nn nther m%lters prescriheil hv Ihe l ompanies Act 211n6 the inf()rinali(¥n ¥iven iii Ihc diTcLlnr8 reTrrt flir Ihc finan¢iHI year lor wl)iLh the financial 8lateiiicnl.% arc tlic dircclors rcpnrf lias heen prep%red in ACLiirdxnre with ApplicAhle Ipg.Al rvqiiirpmenl IAtlers whith we are re4uired t(> rcpnrl hv ¢%rtplip hve n¢)1 idenlifiecl maleriAI n)l¥slgieineillE ID Ihc dircctorR ropiryrf. Wc have iioihintt lo rcpnrt in respeLt nf the followin¥ mallers in latIon lo which the ( onipanies Acl 2011(I rLquire% us 1(} ade(iuale aLLoiin1inkT reL£irds have lint becii kcpl. nr reliirn% adcqiiatc Inr c)Iir Hiidii havc nol been reLeived froin branclic% not visited bv u£: i)r certaiii Aigcln<iires nf direclorq reiiiiineTatinn opeo ified hy law nnl Miqde.. Jr the clirecii)r% iwere n<il eniiillil i() prepare the Iiiiancial siaiemenis in aLcoTdaiire wilh the sniall L()nipaiiies reIll)L Anil lake a(lvniili)7e ilf ihe %iii#ll L<?IllPOtlics ¢Kcniptli)ns in PT¢p•riii¥ lh¢ diTrclc?rs r¢pprl and frnm Ilir re(IlllTcillciii In prcpare a slralc¥ic rep()rt. liespnn%ihilities of ilirectnrs ()f the Lharilahle Liiinpcinv r(Ir the piJrpose% {)f L()nipany lawl are re%piinsiblc fi)r Ihc prepari?lion of Ihc finiln¥ial sliTrlciii¢iils ncccssary lo enahle ilie preparalii)n (If financial %ialeinenl$ 1hai are free frnill material iiiisslalemenl. whether diie lo fraiid or In prcpii rine thc financii?I statcnientq. Ihc diTcclnrs arc rcpOnsIblC foT 1% thc rhariiable cnmpany-s ahiliiy Ic) L(intinue as A ¥T(IIIIL7 L()ncern. Elisiliising. a% applicahlc. iiiatter% reliryled 10 L>nirig cniiccrn and Ihc LYnin4 concern bli or Liiiijiiliiio iiiileEq ilic direLliirs tithcr inlcnd lo liquidate ihe chaTilahle L()mpany ()r lo cease <)peratic)ns. ar have no realistic Audlinr'g respon4ihilrtir% fiTrr thc xuitit ¢Jf Ihl fillilli'iul ¢trt Ill
IIRIN(:FIF,I.I)S H()RTIC'III,I'IIRAI. S()C".IF,TY LIMITF. Cdr iiidt(l .1 I sl DeLLiiibcT 21124 liir Illl L_ IliJdilDr's respnn.Eihililies for the audil nf the fivanrial stAtemenls continiied. We iilenlilied ihe l?1 w% and Te¥iJlalinns applicahlc to Ihe charity IIiToiigh Iliscussinns with Iriisiecs Hiid ()IhrT iiianagyeinent. and from Triir knnwledee ()fihe charily se¢l(Ir eKperienc¢ nfihe client. We liKiised iiii 4peiific laws and re4iilalii)iis whiLli we Ll)n%iclered Inay have a Ilirecl nialerial etTect on Ideiililied laivs and regiilAiion4 were c()iiimiJniLalcil iv¥ihin Ilie aiidit teatn rcgiilarly and ihc Icam rciiiRined M7 kingi cnqi1iric ()f rna1141Licrncnt lo whcre ilicy considercd there was Sil4Lcplibilily lo fT2L lid. Ilieir ktiawledgc -ri) a%ldrc8% Ihc ri.8k <)f fraiid Ihr<)11!h hiaq an<1 i)wcrriclc i)f ic)nln)18. wc.. I)CTIoTIMcd <inalylical prpccdiirc% to idcnlily any iiniF8ual ()r uncxpccled rclc1tiTrnships.' T¢fleLled in the fin.Inbll1 A% Pcryrl of iiiir aijdil in aLLordancc witli I%.41[ IKI. wc cxcrcisc pr(Ilessii?nal.jiidyincnl find mairitiTrill PfDles%inncTrl
%I)RINI'FIF.I.D% H()k'ric.'Iii.TIIIiAL S()C:IETY LIMITF.I) lui" IligL_- Aiidilor's respTrnsihilitie4 fnr fhe Riidil 1)f the finxntixl stxtemenls conlinued. l)blain an iJndeisiandinLI nf interiial c()nlr()I relevani li) the aiidit in nrdcr l<) avdil proLediire% Ihal dre nd Telaled discli)%iJre% mA(le hy th¢ Iriislccs. ( niiilude nn the approprialenes< ()f the lriistcc, Iise nf g()ing conceTlI ba814 ()f accoiinlin¥ and. ba4ed nn tlie aiidil evidence i)blained. Iwhether a Inalcrial iiiicertaiiity exi%ls related lo evenl% i)r condTti(Ins Ihat iiiav ca%1 Laii4c the ¢l)arTly Io l() Lonliniic Qi % a ¥i¥inB LC)nLern. Vc ioinmunic?1 11 iyiili Ihosc char¥cil Iviih g()wcrnilnie r¢gor(ling. Hiniing nihcr rnaiic¥5. Ihe planned sct>pc and lirning Df the I l*t thf (pur r¢p(Jrt ALI )nfl(>. ()Iir aiidil ivnrk ha hcen iiiidcrtakcn that ivc mi(ylil gli?Ic In the coiiipany g IMemhef% Ihogc illallcT% wc arl rcqijircd tn slalc l<Tr Ilicin in ?L li aiidilor % repnrt and for tio other piirposc. l o the lullesl exlenl pemiilled hy law. we do 1101 aLc¢pI (?r a£Eiinic r¢4wiii4ihililv lo anviTrDc {Iilier Ihan Ihe coinpany and the collipany q l¢lbers body. for Iiiir aiidil Ivi)rk. f(Ir thiE rert. ()r fnr the ()pini011s wc hHv¢ fnrin¢d. pilding
Sprinqfields Horticultural Society Limited Statement of Financial Activities (including Income and Expenditure Account) for the Yoar Endod 31st December 2024 Unrestricted Restricted Funds Funds 2024 2024 Total Funds 2024 Total Funde 2023 Note Incomè from.. Oonatioiis aiid legacies Donations 1,134 1,134 1,736 924 Donations - Rè" SpeCfiC projects Charitable activities Garden maintenance Lease 362.366 362,366 40.364 338,266 37.752 40,364 Other trading activities 6,403 6,403 887 Investmenis 47,613 47.613 other Subscriptions Nel profil I Ilossl on fixed assets 31 11.0521 31 11.0521 31 14351 Total Income 94.493 362.366 456,859 394,678 Expenditure on.. Raising funds Support costs Governance costs 40.997 47.578 40,997 47,578 33,602 36.942 Charitable activitie Project expenditure C,harily and ediicalion exppndilijre Garden expenditure 14.399 14.399 5&,612 288.007 19,864 58612 288.007 241.113 Total expenditure 102.974 346,619 449,593 400,859 Net incomellexpenditure} 18,4811 15.747 7.266 16.1811 Tran$fers between fund$ Tr3nsler ol exc95g Educstion & Charity overheads Net movement In funds 18.4811 15,747 7,266 16.1811 Reconciliatlon of funds.. Total funds al 31 sl December 2023 1.250.605 195,109 1,445,714 1,451,895 Total fund8 at 31st D¢c¢mb¢r 2024 1,24f 1ry4 210,856 1.452,080 1,445,714 There arÉt no recojniserl 93inq nr InqqK*.q nthp.r thAn thnqp. pa<%ing thrnijoh Ihp Statement of Financial Activities
Springfields Horticultural Society Limited BalanGe Sheet as at 31st Decembor 2024 2024 2023 Note Fixgd assets Tangible assets Investments 12 1.379.945 53.989 1,433,934 1,387.946 53.989 1,441.935 13 Current a68et6 Debtor5 14 76.193 1 IU.22b 186.419 30.320 Lash al bank ano In hand 15 188.505 Creditor3'. amount? folling due within on9 yoar 16 158,308 165,627 Net Current assetsl{liabilitiesl 28.111 22,878 Total assets less current liabilities 1,462,045 1,464,813 Creditors-. amounts falling due after one year 17 9,065 19,099 Net assets 1.452,980 1,445,714 Capital and reseNes Unresiricied Reslricled 19 20 1,242.124 210.856 1,250,805 195,109 1.452.980 1,445.714 These financial slalement5 have been prepared In accordance with the provisions applicable lo companies ?ubject to thc omall companic- rcgime and in accordance with FRS 102 'Tha Financ131 Reporting Standards applicable in the UK and Republi¢ ol Ireland.. These Inancial st@lemenls were approved by the board of directors and aulhorised for issue on .{ %ll. and aro signed on behalf of the board by.. Mr A Jansen Council member company Registratiori NuiTILJ¢i 870138
Springfields Horticultural Society Limited Notes to the Financial Statement5 for the Year Ended 31st December 2024 1. Accountlng pollcle5 General infomiation Springfields Horticultural Society Limited is a company limited by guarantee registered in England and Wales. In the event ol the charity being wound up, the liability in respect ol the guarantee is limited lo £1 per member of the charity. The address of the registered office Is Springfields Festival Gardens, Camelgate, Spalding, Lincolnshire. PE12 6EU The nature of the charity's operations and principal activities are primarily lo promote the study and practice of horticulture in all ils branches and In particular the cullivalion and development of all varieties of flowers grown from bulbs and corns Ba315 of Prepaiation vf FinanGial 3t¢ltEfwiEnl The financial slalemenls have been prepared in accordance with Accounting and Reporting by Charities.. Slalemenl ol Recornmended Practice applicable lo charities preparing their accounts In accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019. the the Financial Reporting Standard applicable in the Uniled Kingdom and Republic ol Ireland IFRS 1021 the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice Cashflow Staiement The charitable company has elected lo lake advantage of small company provisions and nol piepare a cashflnw gtalpmg.nt Public benefit The charitable company's objectives and activities are in accordance with the Charity Commissions, general guidance on public benefit. Going concern The financial slalemenls have been prepared on a going concern basis as the Iruslees I directors believe that no material uncertainties exist. The Iruslees have considered the level of funds held and the expected level of Income and expenditure for 12 months from aulhorising these financial slalemenls. The budgeted income and expenditure Is sufficient with the level ol reserves for the charity lo be able lo continue as a going concern Incoming recognition All incoming resources afe included in the Slalemenl of Financial Activities Isofal when the charity is legally enlilled lo the Income after any performance conditions have been mel, the amount can be measured reliably and il is probable that the Income will be recewed Garden maintenance and lease Reprect- the incomè the charity is entitled to in r•gpoct of the upkeep of tho show gard@n8 and rp.IAt•.d leased out premise al the Springfields Oullel Shopping Village
Springfields Horticultural Society Limited Notes to the Financial Statements for the Year Ended 31st December 2024 1. Accounting policies cont'd.. Trading activities Represents the lolal invoice value. excluding value added lax. of goods services supplied lo customers during the year. Investment income Represents Interest received on bank accounts and Gift Aid received I receivable from subsidiary company. Resources expended Resources expended are recognised in the period in which they are incurred Resources expended are allocated lo the particular activity where the cost relates directly lo that activity. Any support costs are allocated to a PartulaT activity based on the percentage oi time ana cosis Incurrea Dy head office on each activity group Governance costs. which are within support costs. include the cost of governance arrangements which relate to the general running of the charity as opposed lo Ils direct fund generating and charitable aclivilie5. Unrestricted funds Unrestrictett iun(Js are aonaiions and other Incoming re50LJrces receivaoie or generated tor the object5 01 the chaiily wilhoul furlher specilied purpose and are available as general funds. Restricted funds Reslricled fund5 can only be used for the specific purposes within the objects of the charity. Reslriclions arise when specified by the donor or when funds are raised lor particular reslTlCted purposes. Expenditure which compSies with these criteria is identified lo the fund. Tangible fixed assets and depreciation Tanqible fixed assets are initially recorded al cost Depreciation is provided al rales calculated lo write off the cost less residual value of each asset over its exp@ttod ugofLJI lifp as follow<" Freehold Land Freehold buildings No depreciation Slraighl line over 20 years l Marquee cladding and electrical work over 10 years l Marquee lining over 5 years Straight line over 25 years 20Vo per annum on nel book value 159kn per annum on nel book value 20Vo per annum on nel bcx)k value Garden redevelopment Tractors, vans and equipment Fixtures. fillings & equipment Motor vehicles
Springfield5 HortiGultural Society Limlted Notes to the FinanGial Statements for the Year Ended 31st December 2024 Impalrment of foxed assets A review for Indicators of Impairment 15 carried out at each reporlirpg dale, willi Ilie recovvrablv diiiuuiII bviiiy eslimaled where such indicators exist Where the carrying value exGeeds the recoverable amount. the asset is impaired aGGordingly. Prior impairments are also ieviewed foi possible reversal at eaGli repui Iiriy TJdl¢. For the purposes of Impairment lesling. when Il is not possible lo estimate the recoverable amount of an individual a5sel, an estimate is made of the recoverable arTTrounl of the cash generating (Inil lo which the asset belongs The Gash generating unit 13 the smallest identifiable group of assets that inGludes the asset and generates cash Inflow that are largely independent of the ca8h inflows from other assets or groups of assets Investments Fixed asset Investments are slated al cost less provision for diminution in value. stock Stock is valued al the lower of cost and eslimaled selling pr1ce less costs to complete and sell. Cost inGludes all purchase costs. costg of conversion and other costs Incurred in bringing the stock to its prèsent location 2nd Condition Consolidation In the opinion of the directors the Charity and ils subsidiary undertaking comprise a small size group. The charity has therefore taken advantage of the exemption provided by the Companies Act 2006 not lo prepare group accounts. These finanGial StateentS therefore represent the finanGial aGtivities and state of affairs of the charity only 2. Incoming resources The tota Income of the company for the year ha5 been derived from It5 principal activity wholly undertaken in the UK. 3. Surplus I (Deficit) on operations 2024 2023 Surplus I (Deficill on operations Is slated after charging'_ D8proci31ion and other amounts written off tangiblè assets owned Profit I Ilossl on disposal of fixed assets Auditors. remuneraiion 15,557 11.0521 4.900 14,865 2.852 4.550 During the year the charity purchased goods and servi$ lo the value of £9.734 {2023 - £10.7681 and sold ervioe to the value of £nil12023 £nill lo companies in which mambars of the council have an inlere$t. All transactions were entered into on normal commercial terms Such transactions are aulhorised within the charity's governing documents. 4. Investment ineomEth 2024 2023 Bank Interest received Gift aid received from subsidiary company 613 47,000 15,517 47.613 15.517 12
Springfields Horticultural Soclety Llmlted Not¢s to the Financial Statements for the Year Ended 31st December 2024 5. Support cost$ 2024 Gharltable Governance Activities Costs Garden linc Head Office Charity and educatlon 2023 Generatlng Funds Toial Total Payroll Tiavel and entertaining expense: Office and event running Gosts Building maintenance costs Finance and professional costs Audit and accountancy costs 15.252 12.092 7,754 24.808 4,651 11.315 1,860 15,236 13.835 1,415 726 51.375 18,603 24,147 19.069 2.175 6,915 43.079 18,201 12.670 19.016 1.880 5,435 5.234 336 4.370 424 1.819 44 .2A7 1?? ?A4 1nn?A1 Support costs have been allocated to activities based on the percentage of lime and cost5 incurred by head office on each activity group. 6. Breakdown of costs of raising funds 2024 2023 Total Direct Costs Support Cost3 Depre¢latlon Total Ulher raising fund cosis 37.341 3.656 40,997 33,602 37.341 3,656 40.997 33.602 7. Breakdown of costs of ¢harltable actlvliy 20Z4 Depr¥Gi4tivn 2023 Actlvltles Undertaken Support Costs Toial Total Projects I shows.. Activities 9.944 4.455 9.944 4,455 19,864 Wages 14.399 14,399 19,864 Charity and Education.. ActivitiÉtS ?. 553 4.003 5.002 53,610 5.913 63.425 Vvages 49.607 52,056 6.556 bi5.bl 69,338 Garden expenditure 245.297 34.000 8,710 288.007 241.113 40,550 8,710 361,018 330.315 13
Springfields Horticultural Society Limited Notes to the Financial Ststements for the Year Ended 31st December 2024 8. Br•akdown of eosts of gov@Tnanc 2024 2023 Support Depreciatlon Cosis Total Total eJnvprnAnrp. r.nql8 44.387 3.191 47.578 36,942 9. Employees 2024 2023 Total emolurnenls paid to employees Wage3 and sa18rie3 Socia1 securily costs Pension costs 394,920 20,380 4,206 419,506 376,911 17,605 3,520 398,036 Leès.. Wages recharged lo subsidiary 1122,3261 1144,4441 297. 180 253.592 The charity employed an average of 1812023. 19} employee5 during the year of which on average 312023.. 6) employees are recharged directly lo the charity's trading subsidiary. Springfields IEnlerpiisesl Limited. 3 employee12023. 11 foceived remLllI@ration in èxeèss nf f60.onn 10. Trusiees and key management personnel remuneratlon and expen5e5 The Iruslees do not receive any remuneration or other benefits from the charitable company, or its trading subsidiary. TIIE Ivl(Il (IlllVUlIt ul ¥1Tiyluyv¥ LJeiielil6 received by key management personnel Is £70,991 12023." C70,0671. The charity cOnlder Il kcy managem¢nt pertronnel comprises of the Chief Exècutive of tha charity. 11. Taxation The ¢h8rilable company is exempl from corporation lax on ils chari13ble aclivilies.
Springfield5 Horticultural Soclety Llmlted Notes to the Financial Statements for th@ YÈar End@d 31st December 2024 12. Tangible fixed assets Garden Re- Land and furbishment buildings froehold Plant Fixtures, fittings & machinery equipment Motor vehicles Total Gost Al 31 sl December 2023 Additions 2,121,495 897,240 84.735 6.999 14, 1791 87,555 18,155 1.609 8,990 3,130,615 8,608 14, 1791 8.990 3.135.044 At 31st December 2024 2.121.495 897.240 19,764 D¢pr¢oiation Al 3151 December 2023 Charoe for the vear Elim1naled on disposal Al 31st December 2024 1.272.898 415.725 3.656 44.757 8.710 13.1271 50.340 6,660 1.904 2,629 1.287 1,742.669 15.557 13.1271 1.755.099 1.272.898 419.381 8,564 3,916 Net book values Al 3 1bl DeGerribei 2024 848.597 477,859 37,215 11,200 5.074 1.379.945 Al 31st Oecember 2023 848.597 481.515 39.978 11,495 6,361 1.387,946 Thp rn?I nf t4pprp.r.iahle hiiildings Inrluded in land and bLiildings al 31 st Dpcember 2024 was f456.280 12023 - L456,2t301 In the council members, opinion the value of the land and freehold btjildings Is likely lo be significantly in exce** of It net book value. lnrlijdp.rl within frp.p.hnld 12nd 2nd hiiildings 1% Ihp. springfip.ldq Fvp.nlq C.p.nlrp. whirh iq ijspd by Ihp. rhArilAhlp. compan1es trading subsidiary Springfields (Enlerpiisesl Limited. As no rent Is paid by the trading subsidiary the buildi1i9 lias beeii Inaiiitaiiied in Iliese fiiiancial slaleiiieiils al GO31. All fixed assets held are used in direct furtherance of Ihg charity's obj8Ctivèg. 13. Pixed assei investments Subsidiary underiakings shares Total Co$1 Al 31st Decembef 2023 53.989 53.989 53.989 53.98g Al 31-t December 2024 Ner book values At 313t December 2024 52,geg 53,989 Al 31 gl Decembp.r ?n?2 S3.989
Springfield5 Horticultural Society Limited Notes to the Financial Statements for the Year Ended 31st December 2024 13a. Holdings of 2011A or more The company holds 200kn or more of the Share capital of the following companies.. Company Country of Number registration or Incorporation Naturo of business Class of Proportion shares of sharès held held Company Subsidiary undertaking Springfi@Ids IEnterprisesl 02874075 England and Limited Wales Operaleg thè Ordinary 100% commercial a¢tivities of the charity The aggregate amount ol capital and reserves and the results of these undertakings for the last relevant financial year were as follows. 2024 Capttal and reserves Profit for the year Springfields l Enterprises) Limited 84.697 48.694 2023 apital and re5erwe5 Profit for the year 90.552 13.557 14. Debtors 2024 2023 Trade debtors Prepayments and accrued Income Amount due from )ub3idiary company 1.965 307 257 30,063 73,921 76.193 30.320
Spriiigfields Horlicultural SoGiety Limited Notes to the Financial Statements for the Year Ended 31st December 2024 15. Cash at bank and in hand 2024 2023 HSBC Money Market - term deposit account HS8C Money Market_ 7 day HSBC Business curfenl aOUnt Cash In hand 395 85,487 24.163 781 85,829 55.635 16,613 110.226 158,185 16. Creditors.. amounts falling due within one year 2024 2023 Trade creditors ntrhp.r r.rp_ditnrq 9,388 11.179 11.412 10.000 28,039 104,197 Bank loans Olli¢i l<lXVb <lfitJ bVLial svuuiily Gus15 Accruals and deferred Income 10.000 29,832 109,088 158,308 165.627 16a. Deferred Income 2024 2023 C72rdp.n mainlpnanrp. cnnlr1hiilirtrnq Allraclions lease 10,238 9,944 102,288 99,077 17 Crpditnns.. Amnijnts falling diJR aftpr mnro than nn¢¥ yaar 2024 2023 Bank loans 9,065 19.099 18. Commitments Linder operating leases Al 31sl DeGeinbef 2024 Ilie lolal future Ininimutn lease payments under non-cancellable operating leases are a5 follows". 2024 2023 Other operating le85es whieh expire". No later that 1 year Later than 1 year and not later than 5 years 8.401 6.252 8.457 13.273 17_
Springfields Horticultural Society Llmlted Not¢3 to the Financial Statements for the Year Ended 31st December 2024 19. Unrgstrictgd funds At 0110112024 Incoming Outgoing At rgsouTfPS Tran5fer5 3111212024 General Fund 1,250,605 94,493 1102,9741 1.242.124 20. Restricted funds At 0110112024 Incoming resources Outgoing resources Net transfers At 3111212024 Garden Reserve Fund Education and Charity Fund 195.109 289,893 72,473 1288.0071 156,6121 196.995 13.861 195.109 362,366 1346,6191 210.856 The funds are consiiiuied as lollows.. 2024 Unrestricted Restricted 2023 Total Total Tangible assets InvEslirieiilb Current assels' Debtors Cash al bank and in hand Liabililies- Creditors falling due within one year Creditors falling due after one year 1,337.560 53,989 42.385 1,379.945 53,989 1.387.946 53.989 76.193 1148.9281 76.193 110.226 30.320 158.185 259.154 167,6251 19.0651 190,6831 115B,3081 19,0651 1165,627} 119.0991 1,242,124 210,856 1.452,980 1.445.714 Fixed assets Debtors Cash at bank Creditors Total Garden Reserve Fund 42.385 245.2ql 13,861 190.6R11 19fi 99 Education and Charity Fund 13.861 42,385 259.154 190.6831 210,856 The reslricled funds are defined as follow5". Garden Reserve Fund is a fund which holds reserves built from reslricled annual garden maintenance income. The purpose of the fund is lo enslire that any signifiranl fiitiire. pxpp.ndilure can be mel and that Gharilable activities are not impeded by lack of funds. Education and Charity Fund is a fund which holds reserves built from a percentage of the reslricled annual garden mainienance incorne The purpose of th15 fund il Iu y(iy fui Ilitt ciiid relevant rosls to hold events and activities to educate people aboL4t the gardenq and hnrtir.iJltiJrAI Ar.tivitlg4
Springfields Horticultural Society Limited Notes to the Financial Ststements for tho Year Ended 31st December 2024 20. Contingent liabilities The trubl¢c- are k¥ati- -ficd that no conlingcnl Iiabililics wcrc prcscnl al the year end. 21. Related parties transactions Transaction5 with companies in the Springfields group'.- Springfields l Enterprises l Limited 2024 2023 Sales Wages recharges Additional administration recharges 12.959 122.326 18.274 14,361 127.581 17,593 Purchases 2,237 The admini51ralion recharge Is for Spnngfields Horticultural Society Limited staff costs in respect of the Events Centre manaqemenl 2024 2023 Glft ald donatlon from 5prlngfleld IEnrerprlsesl Llmiied 47,QOO 15,517 The balance owed by Springfields (Enlerprisesl Limited at 31 sl December 2024 was £73.921 lowed by Springfields IEnterprises1 Limited al 2023 £30.0631 22. sUbFdlary Durino the year the chaTlty's Irad1ng sub51diary made a loss after lax and qifl aid of £5,85512023 profil - £1,9601 which decreased Ils reserves lo £84.69712023 £90.5521 -19_
Sprlngflelds Hortlcultural Society Limited Income and Expenditure AGGount for the Year Ended 31st December 2024 2024 2023 Incomlng resources Donations - general Donations garden Sundry income Gift aid froirt associaled GoIIIVdlll¥ Investment income Garden maintenance Lease Members. subscriptions ProliVI10351 on Jale of fixed assets 1,134 1,736 924 887 6.403 47,000 613 362,366 40.364 31 11.0021 15,517 338.266 37.752 31 Total incoming resources 456.859 394.678 Resources expended Direct charitable expenditure Garden gxpenditure C8rdeners wages. contTact work and national insurance Gardeners pension costs Garden sundries Education and Charity Activities Education and Charity - Wages Hirp. nf J2rdg.n qp.rvir.g.8 Bulbs, plants and shiubs Fvililibel ¢iiid *+Pl£lyb Maintenance and garden facilities 189,045 147.888 3,632 11,762 2,449 49,607 1?,?no 16,076 2.228 10.354 2,863 9.438 3,661 57,036 12.12 16,894 2,533 8,806 297.353 261.239 -211-
Springfield5 Horticultural Soclety Llmlted Income and Expenditure Account for the Year Ended 31st December 2024 202a 2023 Oth¢r diro¢t oxponditure Charitable objectives expenditure Tulip and daffodil shows Projocl gardans 11.799 2,600 12,260 7,604 Management and administration Salaries and national Insurance Pgnqion r.nRIs Postage. printing and slalionery Telephtine / itlternel ros15 Lighting. healing and power Building maintenance Equipment hire Computer software Audit and accountancy Bank charge5 InqiJrAnrp. Moior and iraveiiing Rcpairs and renewals Iinclvdes Wage&- £4061 Professional and legal fees Sundry expenses Sundry expenses recruilmenl costs Depreciation Othef assets Depreciation Gardcn dcvclopment costs 50.801 574 42.422 657 1.988 3,475 1,378 220 2.140 2,810 730 313 2,457 5,435 954 11,626 18,201 5,612 925 5.262 2,452 6,915 800 12.287 10,fiU3 5.184 1,375 6.232 10.000 6.849 8,710 11.213 8.262 137.843 119.754 449,593 400,859 Surplus I Ideficill on operations transfèrred lo accumulated fund 7.266 16. 1801
Sprinqfields Horticultural Society Limited Note3 to the Financial Statements for the Year Ended 31st December 2024 Pages 23 to 25 also form part of Ihgso financial slglomont$ and show lh9 2023 financial stalomont comparalivg figurgs -22-
Springfields Horticultural Society Limited Notes to the Financial Statements for the Year Ended 31st December 2024 23. Fund Comparatives Unrestricted Restricted Funds Funds 2023 2023 Total Funds 2023 Income from.. Donations and legacies Donalions Donalions - Re. Specific projects Charitoble activities Garden maintenance Lease 1.736 1.736 924 924 338.266 338.266 37.752 37.752 Other trading activities Investments 887 887 15.517 15.517 Other SubscnplK>ns Nel profil / floss) on fixed assets 31 (435) 31 (435) rotal incom• 55.488 339. 190 394,678 Expenditure on.- Raising funds Support costs Govemance cosls 33 602 36.942 33, 602 36.942 Charilablo activitios Project expenditure Charity and education expenditure Garden expenditure 19.864 19.864 69.338 241.713 69.338 241.113 90.408 310.451 400.859 Not expenditure (34.920) 28, 739 f6. 187) Transf8rs between funds Transfer of pxc9.ss EdiiralAon & Charily ovprhparl. {.7R?) -717? Not movemont in funds (35.3Q2) 29,121 (6. 181) Reconciliation of funds.. Total funds al 31st December 2022 1.285,907 165.988 1.451,895 Total funds at 31st December 2023 1 250.605 195 709 7.445 714 -23-
Springfields Horticultural Society Limited Note5 to the Financial Statements for the Year Ended 31st December 2024 23. Fund Comparatives continued... Investment income 2023 Gift Aid received from subsidiary companv 75.517 15.517 Support costs 2n2.3 Generating FunaTs Charitable Artivitip_ Garden Governance Costs Head Office Total Payroll Travel and entertaining expenses Office and pvpnl njnning rn.l. Building maintenance GQSts Finanrp. prnfp...sion81 e.osts Audit and accotii?lancy costs .ofiq If.831 4.778 26.6?2 4.550 g36 5.006 407 3,435 9,488 1.820 6.956 14.070 973 511 43.079 18.201 12.670 19.016 1.880 5.435 506 1.429 25,513 40,950 33.818 100, 287 Breakdown of costs of raising funds 2023 Direct Costs Support Costs Depreciation rotal Other raising fund costs 25,513 8.089 33.602 25,513 8,089 33, 602 Breakdown of costs of charitable activity 2023 Depreciation Activitl8S Undertaken Support Costs Total ProjpGI.8 /.shows expendilu 19.864 19.864 Charity and Education ALliviltrb Wages 2.252 6.389 8.047 5.973 63.425 69.338 57,036 00.09T Gciid&rJ expendilure 2(90.542 32,309 247.113 281.103 40.950 8, 2ti2 J3U.37b -24-
Springfields Horticultural Society Limited Notes to the Financial Statements for the Year Ended 31st December 2024 23. Fund Comparativcs continued.. Brcakdown of costs of govcmance 2023 Depreciation Support Coats Total Govemance cosls 33.818 3. 124 36.942 33.818 3.124 36.942 Unrestricted funds At 01/0112023 Incoming resources Outgoing resources At 37112/2023 Transfers General Fund 1.285.907 55.488 (90,408 382 1,250,605 Restricted funds At 01/0112023 Incoming resources Oijfgning resources Net transfers At 3111Z12023 iar(len RJ8sgrvè Flind EduL(JIIufi dri(J Gharity Fund 165, 609 3T9 270.613 (24 1. q 13? [69.338) 195. 100 165, 988 339, 190 37Q,451 382 7Y), 7UY The funds a constituted as follows. 2023 Unrestricted RÈstrittèd rotal Fixed assels" Tangible assets Inveslmenls Ciirrenl assets.- Stocks Deblors C.a.8h al hank anfl in h2nrf Liabilities' f.rpdifnr.% fxllAng diip wifhjn nnp yp.ar Creditors falling due after one year 1.341.493 53.989 46.453 1,387.946 53.989 30 320 (83.405) 30.320 158.185 ?41.590 (72. 6g3) (19.099? (92. 934) 1165.627) f19.099J f.250,605 195, 109 1.445, 714 Fix¢d 038et3 Debtors Cash at bank Credito Total Garden ReseThe Fund 46.453 241.590 (92.934) 195. 709 46,453 241.590 92,934 195, 109 -24_