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
vI￿PresIdents
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 suc￿Ssful 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 cU￿entlY 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 n￿ded 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 b￿n
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 Sh￿IdIng 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 Sc￿lety itself, perhaps the strongest lesson of this period is
tljt we rely entirely on volunteers. and a￿hoUgh 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 Can￿lled 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 fInan￿S in the absen￿ of a Treasurer. On behalf of us all, I thank all
four most sin￿relY 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 re￿IVed 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 Can￿lIatIOn 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 finan￿S 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 De￿rnber 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 Offi￿rS consist of the chaI￿an, 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 V￿re last approved on 4th February 2020.
Offi￿rS 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 re￿1ve 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 aC￿ss, 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, Dab￿Cla (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 horticU￿ural lectures to other
groups. A number of bursaries are granted each year to support horticultural students. A
y￿11-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 aC￿SsIOnS 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 ex￿ption
of new pot-washing fa￿lItieS 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
prodU￿d 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 re￿ntlY 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, cOn￿mS 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
RegiSte￿d 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 re￿1vable 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 tra1￿CtIOn 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)
Ta￿10fi
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 SoCI￿y
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