Lakeland Horticultural Society ANNUAL REPORT AND FINANCIAL STATEMENTS for the year ended 31 August 2020 Registered Charity No. 259847
THE LAKELAND HORTICULTURAL SOCIETY Annual Report and Financial Statements for the year ended 31. August 2020 CONTENTS Trustee< Annual ReF)Ort: Officers and Trustees of the Society Report from the Chairman of Trustees Financial Report Structure. Governan and Management Activities Achievements and Perfomante Independent Examinerfs Report Statement of Financial Activities io Balance Sheet li Notes to the Financial Statements 12-17 Address: Holehird Gardens Patterdale Road Windermere LA23 INP Registered Charity No. 259847
THE L4KEL4ND HORnCULTURAL SOCIErY Annual Report and Financial Statements for the year ended 31° August 2020 President Shelagh Todd vIPresIdents Christopher Brickell CBE VMH Lord Cavendish of Fumess DL Lady Cressida Inglewood, Countess of Lonsdale John D Main NDH DHE FIHort Shelagh Newman lan Sandwell M Hort NDH IHonsl FIHort MargaretThomas Peter Hoggarth Counal of Trustees Officers: Chalrman: Wic&Chairman: Garden Co-ordinator: Secretary: Hon. Treasurer: Alan Oatway Maggie Mees Vt7cant David Mason vacant Members: John Ashley Sue Buckingham Diane Fisher Jane Lees CBE Tina Mclntosh Sybil Maden Amanda Mason Pat Murphy Susan Quayle Mary Stebbin8S Audrey Whittle (co-opted) Registered Charty No. 259847
THE LAKELAND HORnCULTURALSOCIErY Annual Report and Financial Statements for the year ended 31 August 2020 Report from the Chaimian of Trustees It is quite hard to remember that this extraordinary year began quite normally! The first six months saw the usual programme of activities, wtth new work progressing on a number of fronts. We have had a group considering issues related to Sustainabilty, and our desire to improve the paths in the gardens has been moved on by submitting a sucSsful planning application for some of the works that will be necessary. These and most other works are now held up. Our talks wth our landlords to agree the terms of our lease extension are cUentlY stalled. Whilst we have some understanding of why they might be causing this delay, we are unable to undertake major expenditures until those terms are agreed. We have applied as much pressure as we can. to no avail. It is a very frustrating situation. 2n we reached March, when all our lives were tumed upside down, or inside out, or a combination of bothl Balancing our responsibilities has not always been easy, but throughout, we have been mindful that our prime aim had to be to look after the welfare of all those involved at Holehird. Second. we nded to take proper care of our Society, and the wonderful gardens which it is lucky enough to call tts home. And lastly, On the Lake District was able to welcome visitors On more. we wanted to be sure that the Gardens were as safe as possible for the public to retum. The response from the public has been wonderfiul. They have returned in good numbers, although we have been unable to open the visttor inft)rmation area so we do not have a ft)rmal record of the actual number of visitors to the gardens. We have also had to rely on the °honesty bo system for both admission donations and plant sales, but we have bn most encouraged by how well this has work. As usual, the verbal feedback about the Gardens has been very posrtive, which refiects my understanding of the tremendous dedication of a reduced number of volunteers. From extensive watering through the uriseasonably hot and dry spring to keeping the grass areas neat and tidy. from the usual weeding to propagating and stocking the plant sales tables., those volunteers who have fe happy and safe to be in the gardens have done a superb job in keeping everywhere looking beautiful. My thanks go to them all. But many of our volunteers have correcty been ShIdIng themselves and staying away, and it has been completely right to keep our visttor infomiation area closed. We have also had to cancel all indoor group activities, as there is no way that ctures, courses or social gatherings of any sort could be made safe. Just as it began to look as rf the end of the tunnel might be in sight, Covid cases began lo increase again, making any return to these activtties Unlike until well into 2021. The importance of parks, gardens and open countryside has been all too clear during the lockdown and sin, re*nforcing the value of Holehird Gardens to the local community as well as to its visitors. But for the Sclety itself, perhaps the strongest lesson of this period is tljt we rely entirely on volunteers. and ahoUgh we have welcomed several newcomers, we will need to renew our efforts to attract others once more nomial circumstances retum. I would nonnally use the AGM to thank those Trustees standing down from their roles, but this time I must now include them here. First, Audrey lfyhiltle. who was co-opted for the year Registered Charity No. 259847
THE LAKELAND HORTICULTURAL SOCIErY Annual Report and Financial Statements for the year ended 31" August 2020 to ensure that Estates Comm[tt had a representattve on Council. Sadly, we were only able to enjoy Audrey's contributions on two occasions before Covid prevented us holding our Meetings. Next, Amanda Mason has seNed three years, taking on the responsibility of Garden Chairman during that time. She has worked wtth energy and efficiency, ensuring decisions in committee were well-made, and achieving much during her tenure. Her work to make sure that our tres are attended to in a timely manner is worthy of special mention. Mary Stebbings has ser4ed for six years, tsking a special interest in Equality issues in addrtion to her role as our Tours Organiser. Frustratingly. Covid has prevented either of this yearfs tours taking pla, with the Northern Ireland tour Canlled at the very last moment- this prospective participant had finished his packing for itl And finally, we lose the services of our Secretary, David Mason, who has fill&J that posrtion for six years. He has been meticulous in all the he has done, and he has played a huge part in the smooth running of the Society. He has abNays been prepared to do that btt extra too, as with his willingness to keep an eye on our fInanS in the absen of a Treasurer. On behalf of us all, I thank all four most sinrelY for the time and skills that they have spared for our cause., without people willing to take on these tasks, the Society cannot function. Alan Oatway Financial Report As the post of Treasurer is vacant, a Financial Report has been prepared instead of a Treasurerfs Report. The impact of the Covid-19 pandemic on the accounts for the year ending 31$t August 2020 has been significant. Donations from visitors to the garden were in the region of £33,000 less than last year, Plant sales were £8.000 lower and sales of refreshments, publications and advertising in the Joumal were down by £5,000 in total. Fortunately, during the year the Society reIVed a generous bequest of £20,000 and we were able to recover an additional £4,000 Gift Aid in respect of donations not previously claimed. As a result overall income was around £26,000 less than last year. Wrth close control being exercised over costs and project work on hold, expenditure on the garden was around £20,000 lower than last year and non-essential propety maintenan was £6,000 down. Admin expenditure was £9,000 lower, accounted for in the main by a reduction in Publicity costs and the CanlIatIOn of Open Day in May 2020. Overall expenditure was £41,000 less as a result and after depreciation on Fixed Assets of almost £31,000 we were able to record a break*ven situation for the year, achieving the Trustees, aim of funding day-to4Jay expenses from day-to-day income. but only with the benefit of the above noted bequest. With a notional gain of £3.300 on our Investments LHS total funds actually increased by a like amount over the 12 months to 31st August 2020. The Societys finanS remain in a very healthy position and we can fa the ture, including the continuing Covid problem. wth some Confiden in the knowledge that the Trustees will continue to exercise rigorous control over expenditure and we have the funds available to undertake major refurbishment of the Garden paths and our buildings once our lease has been renewed. Registered Charity No. 259847
THE LAKELAND HORTICULTURAL SOCIErY Annual Report and Financial Statements for the year ended 31° August 2020 Structure, Governance and Management The Society is a registered charity govemed by a constitution approved by the membership, and last modified on 7th Dernber 2019. Its objects are to promote and develop the scien. practi and art of horticulture. with special reference to the conditions prevailing in the Lake District. and within that area to promote and facilitate cooperation between all horticultural organisations and to serve the interests of all horticulturalists. The management and administration of the Society is conducted by its Council, whose members are Trustees of the Charity. The Council comprises five Honorary Officers of the Society, and up to tmelve elected Members. The OffirS consist of the chaIan, the v[- Chairman, the Garden Co-ordinator. the Secretsry and the Treasurer. The members of the Council are set out on page 3. Day-to-day management is devolved to five sub4ommittees.' Garden, Estates, Education, Publications, and Public Relations. These are govemed by Standing Orders which are reviewed annually, and Vre last approved on 4th February 2020. OffirS are elected at each Annual General Meeting (AGM) having, with their consent, been nominated and seconded in wrtting by members of the Society. They hold Offi until the end of the next AGM. They may be nominated for r&election but may not serve for more than six consecutive years in any one offi. Elected Members having. with their consent, been nominated and seconded in writing by members, are elected at an AGM to serve a three-year term. They maj be nominated for re*lection, but may not serve for more than consecutive tems. Members of Council do not re1ve any payment in connection with their position. The Society operates an informal system of Trustee inductton, tailored to frt the experience of the trustee. All new trustees are given a copy of all the relevant Charrty Commission documents, as well as the names and contact details of their fellow trustees. All the work of the Society is carried out by volunteers and is fijnded through members, subscriptions, legacies. donations. the sale of plants and seeds from the Garden. and the sale of publications written and designed by members. Financial Review On the basis of their review of future years, activities, and a detailed budget for the following year, Council are satisfied wth the financial position at 31si August 2020. The policy on ReseNes. the reason why they are held and their intended use. is set out in Note 10 to the .Accounts. Activities Garden The Society manages the renowned Lakeland garden at Holehird which is open to the public every day of the year from davm till dusk. This is a 12 acre garden on a hillside site near Windemiere, 600 feet above sea level. The garden regularly receives up to 30.000 visitors each year, and allhough no fomal charge is made for aCss, visitors are invited to Registered Charity No. 259847
THE LAKELAND HORTICULTURAL socIErY Annual Report and Financial Statements for the year ended 31° August 2020 make a donation. The gardens are developed and maintained to the highest standards, providing the public wbth practical exarnples of design. propagation, plant maintenance and horticuttural Practi in relation to specific Lake District location and climatic conditions. In various parts of the garden trees. shrubs. herbaceous perennials. bulbs and alpines are grown. The Society also acts as the Intemational Registration Authority for Astilbe on behalf of the International Society for Horticultural Scien. and hosts the National plant collections of Astilbe, DabCla (heathers), Meconopsis (the blue poppy) and Polystichum (the holly fern). Education Gardening courses and lectures are held throughout the year, given by both in-house and outside experts. Volunteers act as garden guides for the many tour groups that visit Holehird, and others also give a considerable number of horticUural lectures to other groups. A number of bursaries are granted each year to support horticultural students. A y11-stOCked library and reading room. equipped with PCS and several microscopes, including a new high-powered model, is also available to all members, and a series of horticultural leaflets is available to the public on particular species that are grown in the garden, including the National Collections. We also have our own weather station, which was completely upgraded last year and this helps us understand the effect of varying climate on the perf0mlan of the plants in the garden. The weather records are available online to individuals and other organisations, and it is planned to move the weather station into a more visible location within the garden. so that more visttors are aware of it. Media The web site: www.holehirdgardens.org.uk shares the Society's knowledge and activities online, while The Lakeland Gardener- the Journal of the Lakeland Horticultural Society serves the same purposes in print. The Society also publishes a regular Newsletterfor its members. The Society also has a Presen on Social Media. Access for all Within the inevitable constraints imposed by 8 Lakeland garden, the Society aims to ensure that anyone with an interest in horticulture and gardening can benefit from its work, whatever their means and limitations. Wardens are on duty daily from early April to the end of October in the Visitor Information area to welcome members of the public and answer questions regarding the gardens, either directy or by introducing visttors to other members of the Society. The Trustees confirm that they have complied wtth the duty in s17 of the Charities Act 2011 to have regards to the Charity Commission's guidan on public benefft. Achievements and Perforniance Our usual programme of lectures and courses took psa in the first part of the year, covering a range of topics including Roses, Rhododendrons. Cally Gardens and Madagascar. We hope to re-start these activities as soon as possible. using technology rf Registered Charity No. 259847
THE LAKELAND HORTICULTURALSOCIErY Annual Report and Financial Statements for the year ended 31" August 2020 necessary. New aCSsIOnS have been acquired for the library. and our librarian has dii Itised the catalogue which can now be inspected remotely. Sadly, the RHS course could not be completed at Holehird. Essential upkeep and routine rna1ntenan has continued of course bLrt, with the exption of new pot-washing falItieS at one of our propagation units, no new projects have been undertaken. This is partly due to the pandemic, with many contractors unavailable and also a desire on our part to redu expenditure to help cope with the inevitable reduction in income. There is also uncertainty lating to our lease. We have as usual published two full-colourjoumals durtng the year, but due to there being few activities to advertise, the Newsletter for members was not printed. A colour flyer was prodUd instead, to update members generalty on our decisions caused by the virus. Some additional cards were added to the range available for visitors, but Sin we have been unable to open the infomiation area, sales of such items have been a casualty of the Sjtuation. The latest copy of the joumal provides members with the means to purchase items from our stock. Neither our usual Open Day designed to attract new members, nor the afternoon we devote to those who have joined rentlY have been able to take pla. We have also been unable to accept any group visits, with consequent loss of income. A review of membership categories is underway, and consideration is being given to how we might better welcome our visitors generally if the current difficulties last into the next season. Our volunteers who, in normal times, look after our infomation and sales area, are at the forefront of recruitment of new members throughout the season. Our review will include looking at other ways that visitors might be encouraged to become members. Lastly, we have kept Holehird Gardens looking very good indeed. Wisitors continue to speak very highly of the Gardens. the plantings, the labelling. and the standard of maintenan generally. They also take the opportunty to purchase the plants that we propagate for sale. Since we could welcome visitors back. their purchases of such plants, together with their aG',n',ssion donations, have gone some way to recover our income for the year. All the Society achieves is the result of the efforts of many dedicated volunleers, who deserve much praise. The Trustees. Annual report was adopted by Council at its meeting on 71h October 2020 and signed on its behaff by: Alan Oatway- Chaiman Maggie Mees - Vice-chairman Re8lStered Charity No. 259847
THE LAKELAND HORTICULTURAL SOCIErY Annual Report and Financial Statements for the year ended 31 August 2020 Independent Examinerfs Report to the Trustees of the Lakeland Horticultural Society l port to the charity trustees on my examination of the Accounts of the charity for the year ended 31 St August 2020 which are set out on pages 10 to 17. Responsibilities and basis of report As the charity trustees you are responsible for the preparation of the Accounts in accordance with the requirements of the Charities Act 2011 (Yhe Acf). I report in respect of my examination of the charitys Accounts carried out under s 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under s 145(5)(b) of the Act. Independent examinerfs statement I have completed my examination. I confimi that no material matters have come to my attention in connection with the examinab'on giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by s130 of the Act. or the accounts do not accord with those records; Of the accounts do not comply wrth the applicable requirements conceming the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the Accounts give a Yrue and fair view" which is not a matter considered as part of an independent examination. I have no, cOnmS and have come across no other matte[5 in connection with the examination to which attention shoukl be drawn in this report in order to enable a proper understanding of the Accounts to be reached. Sissons Chartered Accountant The Old Court House Clark Street Morecambe, LA4 SHR RegiSted Charity No. 259847
THE LAKEL4ND HORTICULTURAL SOCIErY Annual Report and Financial Statements for the year ended 31S August 2020 srATEMENT OF FINANaAL AcrivmES Incomln8 Resources Note Unrestricted Restricted Funds Funds (Note 21 2020 Total 2019 Total Voluntary income 74.712 18.435 93,147 105.519 Other charitable income 15,983 15.983 29,970 Investment income 6.490 6.490 6,563 Total incoming sOUrceS 115,620 142,052 Resources Expended Garden and Estate maintenan Other charitable expenditure Administration costs Depreciation Governan costs 36.484 8.335 19.652 30,697 2.314 18,435 54.919 8,335 19.652 30.697 2,314 83,363 12,368 28,323 30,762 2.303 li TJtal resources expended 115.917 157,119 Net resources expended 12971 115.067) Gain on investments 12 3.308 7.248 Accumulated Funds B/Fwd 572,631 580.450 Accumulated Funds C/Fwd at 31" August 2020 io 575,642 572,631 The a no other gains & losses other than those disclosed above. All transactions are derNed from continuing activities. io Registered Charity No. 259847
THE LAKELAND HORTICULTURAL SOCIErY Annual Report and Financial Statements for the year ended 31 August 2020 The Notes on pages 12 to 17 form part of these finanrial aternertts BALANCE SHEET As at 3151 August 2020 2020 2019 FIXED ASSErs Tangible assets Investments li 12 30.601 87,433 118,034 61.298 84.125 145.423 CURRENT ASSETS Stock Cash at bank 6,918 452,977 459.895 6.331 422.766 429.097 13 CREDITORS- amounts falling due within one year 14 2,287 1.889 NEf CURRENT ASSErs 457,608 427.208 NET ASSEf5 575,642 572.631 CAPITAL FUNDS Restricted funds 12.038 12,265 Unrestricted funds 563.604 560,366 TOTAL ACCUMULATED FUNDS io 575.642 572.631 These financia5 statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK {FRS 1021 and the Accounting and Reporting by Charities= Statement of Recommended Practice applicable to charities Ichartties SORP IFRS 10211. They were approved by Council on 7, October 2020 and are signed on their behalf by: Alan Oatway Chairman David Mason Secretary li Registered Charity No. 259847
THE LAKELAND HORTICULTURAL SOCIEfl Annual Report and Financial Statements for the year ended 31 August 2020 The Notes on pages 12 to 17 fomi part of these financial statements. NOTES TO THE FINANaAL StATEMENTS Accounting Policies Basis of preparation The financial statements of the Charity are prepared under the historical cost convention with the exception of investments, which are included at market value. They have been prepared in accordance w5th the Charities Act 2011, the Financial Reporting Standard applicable in the UK IFRS 1021. and the Accounting and Reporting by Charities= Statement of Recommended Prattice applicable to charities (Charities SORP IFRS 10211. The Charity is a public benefit entity under FRS 102, rts presentation currency is Sterling (rounded to the nearest £11. The Trustees believe the Society is a going-concem. and have prepared the financial statements on that basis. IncomSn8 resources Incoming SoUrceS represent total income re1vable during the year. and comprise membership subscriptions, donations, legacies. income from educational activities. investment income and sundry other income. Resources expended All expenditure is accounted for on an accruals basis. Charitable expenditure represents the cost of maintaining the estate and garden, scienttfic. education and editorial acttvtties. Support service5 represent membership costs, and costs relating to the general running of the Society. Governance costs include those incurred in meeting constitutional and statutory requirements. and the preparation of the financial statements. Tangible fixed assets and depreciation Tangible fixed assets are stated at cost. Depreciation is calculated to write off that cost over the expected useful life of each asset, as follow5: Leasehold land and buildings are depreciated on a linear basis over the period remaining on the lease li.e. to 31" May 20201- Fixtures and fittings are written down to a nominal value in the year of acquisition: Glasshouses are depreciated on a linear basis over ten years- and Machinery. vehicles and equipment are depreciated on a lineor basis over five years. Investments Investments are stated at market value, and revaluation gains and losses a included in the Statement of Financial Activities. SttKk Stock is valued at the lower of cost and net reali5able value. It relates to books and publications held for sale to members and visitors. It does not include plants or any work in progress. v51) Creditors Short-term creditors a volued at their tra1CtIOn pri. 12 Registered Charity No. 259847
THE LAKELAND HORTICULTURAL SOCIETY Annual Report and Financial Statements for the year ended 31. August 2020 NOTES TO THE FINANaAL STATEMENTS (wntl Accountlng Policies (cont) Ta10fi The Society is exempt from corporation tax. ix Reserves The policy on Accumulated Funds held as Reserve5 is set out in Note 10 to the Financial Ststements. Restricted and Unrestrirted Funds The Society has entered into an agreement wrth the Holehird Trust for the upkeep of those parts of the 8ardens outside its lease. This income of £17.850 can only be spent on these activities. A donation from The North East Heather Society of £585 is to be used to improve the heather beds. During the year. £216 was spent on thi5 projert. leaving a balance of £369 to be spent on heathers next year. In addition. the heathers still have the use of a fvrther £319 from the restricted donation in 2019. Also included in the Society's total funds is an amount of £7.350 donated towards the improvement of the fellside paths, and a further £4,000 {the Mary Miles endowment) which can be spent only in extremis. All these item5 are therefore disclosed separately on the Balance Sheet as Restricted Funds. The are no restrictions on any other income. Voluntary income 2020 2019 Restricted donation (the Holehird Trust- Note 21 Restricted donation (other- Note 211 Other donations Membership subscriptions Gift aid reclaimed 17,850 S85 42,540 21.036 11.136 93.147 17,850 i.soo 56,020 22.978 7.171 105.519 Other charitable income 2020 2019 Plant sales 12.331 20,559 Vending machine sales Less= Cost of vending machine supplies 765 311 3.834 1,081 2.753 454 Sales of stationery. guides and books Advertising sales in Society Journal 1.079 1,455 3,438 2.240 Income from educational courses 665 15.983 980 29,970 13 Registered Charity No. 259847
TliE LAKELAND HORTICULTURAL SOCIErY Annual Report and Financial Statements for the year ended 31" August 2020 NOTES TO THE FINANCIAL STATEMENTS (cont) Investment income 2020 2019 Interest on bank deposits 6,490 6,563 Garden and Estste maintenance 2020 2019 Garden maintenance Plants purchased Estate maintenan 23,361 6,592 24,966 43.671 8,494 31,198 54,919 83.363 Other charitable expenditure 2020 2019 Costs of publishing Journal and Newsletters c-.st of guides and books Courses. bursaries and lectufes 5,855 5.821 1,600 4,947 2,396 8,335 12,368 Adminlstratlon costs 2020 2019 Membership administration Insurance Publicity and Open Day Website and IT costs Other 3.334 6.841 1.555 1.868 6.054 5,316 6,571 5,947 1,577 8.912 19.652 28,323 14 Re8lStered Charity No. 259847
THE LAKELAND HORTICULTURAL SOCIET Annual Report and Financial Statements for the year ended 31 August 2020 NOTES TO THE FINANaAL StATEMEpifs (cont) Governan costs 2020 2019 Independent Examination costs AGM costs 1.7 614 1,7 603 2.314 2.303 io. Accumulated Funds In accordance with guidance issued by the Charities Commission. the Trustees have considered whether it is appropriate for the Society to retain funds for future charitable artNities. Given the extraordinary uncertainties created this year, the Trustees have exercised all pruden by reducing expenditure, aRd not committing to any future capital works. Many plans exist to utili5e our reserves, but these must await 3 restoration of more nomial circumstance& ii. Tangible flxed assets Leasehold Land & Buildings Fixtures & Fittings Machinery. Vehicles & Equipment Glasshouses Total Cost At 31 August 2019 Addition5 366.464 20,539 92,608 175,557 655,168 At 31 August 2020 366,464 20,539 92,608 175,557 655,168 Depreciatlon At 31 August 2019 Charge for the year At 31 August 2020 356.320 10,144 20,529 78,131 2,220 138.890 18,333 593,870 30,697 366.464 20.529 80.351 157.223 624.567 Net Book Value At 31 August 2020 io 12.257 18,333 30.601 At 31 August 2019 10.144 io 14,477 36.666 61.298 15 Registered Charity No. 259847
THE LAKELAND HORTICULTURAL SOCIErY Annual Report and Financial Statements ft)r the year ended 31 August 2020 NOTES TO THE FINANCIAL sfATEMENTS {cont) 12. Fjxed asset Investments 2020 2019 Balance at 31 August 2019 84,125 66.877 New investment Revaluation gain 3,308 7.248 Balance at 31 August 2020 87.433 84.125 The Trustees, investment policy allows an investment of up to 15% of the total available cash in the Charities Investment Fund ICOIFI split equally between accumulation and income units. These investments are 5tsted at market value, and the resulting gain of £3.308 {2019: gain of £7.2481 is included in the Statement-of Fir.ancial Activities. 13. Cash at bank The Trustees. investment policy is. as far a5 possible. to maximise the turn on the Socievs investments. Within this. the Government guarantee of £85,1)Xl acts as a ceiling for funds invested in any one financial institution. This policy. and the actual ini'estments with each i4stttution is reviewed every twelve months. Cash at bank includes deposits with Building Societies regulated under the Prudential Regulation Authority Ipart of the Bank of England) and the Financial Conduct Authority. Certain deposits are available without notice, and the others have been placed with a maturity of between one and two years. Creditors 2020 2019 Examinerfs Fee Trade creditors 1,7 587 2.287 1,7( 189 1.889 All amounts are payable within one year. 15. Commitments The Trustees have made no new commitments for 2021>2021. and a full review will be conducted on completion of a new lease and once the Covid crisi5 is of much less concern. 2020 2019 Paddock frame repair5 4,500 16 Registered Charity No. 259847
THE LAKELAND HORTICULTURAL SoCIy Annual Report and Financial Statements for the year ended 31 August 2020 NOTES TO THE FINANCIAL STATEMEKtS (cont) 16. Trustee Remuneration No remuneration was paid to Trustees {2019: nil) and there were no expenses incurred in their roles as trustees12019= nil) 17. Related Party Transartion5 There were no transactions with related parties {2019: none). 17 Registered Charity No. 259847