The
Lakeland Horticultural Society
ANNUAL REPORT AND FINANCIAL STATEMENTS
for the year ended 31 August 2024
Registered Charity No. 259847

THE LAKELAND HORTICULTURAL SOCIETY
Annual Report and Financial Statements
for the year ended 31 Au8USt 2024
CONTENTS
Page
Trustees, Annual Report..
Officers and Trustees of the Society
Report from the Chairman of Trustees
Financial Report
Structure. Governance and Management
Activities
Achievements and Performance
Independent Examinerfs Report
li
Statement of Financial Acttvities
12
Balance Sheet
13
Notes to the Financial Statements
14-19
Address..
Holehird Gardens
Patterdale Road
Windermere
LA23 INP
Registered Charity No. 259847

President
Peter Hogsarth
Vlce-Presidents
John Ashley
Christopher Brickell CBE VMH
Lord C8vendish of Furness DL
John Davenport
Lady Cressida Inglewood, Counte55 of Lonsdale
John D Main NDH DHE FIHort
Shelagh Newman
Margaiet Thomas
Shelagh Todd
Councll of Trustees
Officers:
Chairrnan:
Maggie Mees
Vice-chairfftan:
Alan Gerrard
Garden Coordinator:
vocont
Hon Secretary:
Sue Buckingham
Hon Treasurer:
rony Willey
Members:
Pauline Aldous
Charles Bulman
Sarah Burgess
Hayley Davidson
Alan Dickinson
Lorna Hillmann
Alison Sanford
Stephen Sharp
Registered Charity No. 259847

Report from tho Chaimian of Trustees - Maggie Mees
Despite challenging weather conditions for much of the year, Holehird Gardens delighted
visitors again in 2024. Visitors continue to tell us how much they enjoy visiting the garden
year round and once again they showed their affection for Holehird and the appreciation of
the efforts of all our volunteers by voling us RHS Partner Garden of the Year for the North
of England and Northem Ireland. Regular mentions of Holehird in the RHS magazine and
on their website, as well as a recent podcasl. have no doubt encouraged many RHS
members and other garden enthusiasts to visit Holehird and to spread the word about the
delights lo be found there. The growth of social media is also bringing visitors who may not
necessarily have a particular interest in gardening but who have been lold that Holehird
provides a 'good day out, _ and it is free to enterl A growing Challenge for us is to ensure
that all visitors appreciate the true cost of maintaining the garden at the level we, and they,
wish to see, and the extent to which we rely on visitor donations to do so.
The reports from our Committee Chairs which follow indicate the range of activities carried
out by our LHS volunteers. The amount, and often the complexity, of work undertaken by
our small band of volunteers, and the commitment shown by them is astonishing and a
credit to all. People volunt&r at Holehird for a variety of reasons but we all find il satisfying
in one way or another. And yet we are constantly in need of more volunteers in all areas.
Despite a steady trickle of new, and younger, volunteers the ageing profile of our volunteer
base means that we struggle at times to cover all that needs to be done. Unless we can
address the shortage of manpower by recruiting a substantial cohort of new volunteers in
the near future, we may find we have to rely on external contractors to help out more than
we have done in the past.
Thi5 is my last report as Chair of the LHS having been in post for 3 years, and after a total
of 13 years on council. The burden of managing an increasing workload with a shrinking
workforce falls on the Council of trustees, and the current Council deserve all our thanks for
the way in which they willingly take on that role. At a personal level, I thank them for their
support over the lasl 3 years which has undoubtedly made my role easier.
l am delighted that Alan Gerrard has agreed to be nominated to replace me as Chaimian.
Alan's professional and volunlary background will be invaluable to the Society in the
coming years, and his practical experience of working in the garden at Holehird mean5 he
is close to the needs of our volunteers, so crucial to the future of the LHS. Mark English
resigned from Council earlier in the year due to increasing work commitmenls, while two
other trustees, Charlie Bulman and Alan Dickinson. will also sland down after this meeting.
All three provided valuable contributions over the years and Iheir input on Council will be
missed, although I know they all intend to continue to support LHS in other ways.
In addition to Alan Gerrard's nomination to Council, Wendy Thwaite has also been
nominated to become a trustee. Including myself, therefore, 4 people will stand down whi18
only 2 new trustees will be appointed. While Ihe size of Ihe new Council will still be within
the parameters demanded by the Constitution, it does leave the Society's decision-making
body sadly depleted, and increases even further the burden on those who make up the
Council of trLSStees. For the LHS to continue to thrive. which is surely what we all want, we
need more members to contribute to the running of the Society. We need a lot of people
each doing a bit, rather Ihan a few people trying to do everything. That was my message to
the AGM immediately after I was appointed as Chair in 2021 and. sadly, it has not chan9ed.
Registered ChariEy No. 259847

I still believe, as I said then, that "by being involved in, and taking some responsibility for,
the running of the Society. you really do develop a greater appreciation of the fantastic work
that we all do in the LHS and I would recommend it to everybody..
Treasurer'5 Report- Tony Willey
The Society's aim is to fund ongoing expenditure from current income and Ihis has been
achieved with an operating surplus of £24,000. Cosls have increased by around 100/0,
mainly due to additional tree maintenance following the winter storms and the increasing
cost of maintaining our ageing infrastructure. This wa5 offset by £30.000 of interest income
thanks to the current high rates, and a backdated increase in the Trust contribution arising
from the inflation provisions of the lease.
Income from visitors remains stable but there has been no increase in the requested
donation since 2018. Inftalion has eroded the value of this income and the requested
donation will be increased from £5 to £6 for the 2025 season.
It is expected that our ability to balance income and expenditure will become more difficult
in future. Planned caprtal expenditure will reduce interest income as will the current
softening of interest rates, there is uncertainty around the level of Ihe contribution from the
Trust for maintenance of the areas outside the lease once the sale of the mansion is
¢ompleled and we have yet to feel the full impact of high inflation in recent years.
Fortunately our cash reserves of around £700,000 will act as a cushion for some time.
Last year's AGM had lo be rescheduled due to appalling weather. not the firsl time this has
happened in recent year5. To avoid this in future it is proposed that our reporting year end
will be moved to 31st De￿rnber, wilh the membership year following suit. This move ha5
other advantages. It will eliminate the need for an expensive summer mailing of Council
nomination forms and analysis of annual data will comprise a ¢omplete single sea50n. Last
bul not least it will move the Treasurer's and Secretary's year end workload to
JanuarylFebruary when there are fewer competing priorities.
Structure, Governance and Management
The Society is a registered charity governed by a constitution approved by the membership,
and last modified by the AGM of December 2021. Its objects are to promote and develop
the science, pradice and art of horticulture, with special referen￿ 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 twelve elected Members. The Officers consist of the Chairman, the Vice-
Chairman, the Garden Coordinator, the Secretary and the Treasurer. The current members
of the Council are set out on page 3.
Day-to-day management is devolved to five sub-committees-. Garden. Estates, Education.
Publications, and Public Relations These are governed by Standing Orders which are
reviewed annually, and were last approved in October 2022.
Registered Charity No. 259847

Officers are elected al each Annual General Meeting (AGMI having, with their consent,
been nominated and seconded in writing by member5 of the Society. They hold office until
the end of the next AGM. They may be nominated for re-election but may nol serve for
more than six consecutive years in any one office. 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 may be nominated for re-election, bul may not serve for
more than consecutive terms. Members of Council do not recetve any payment in
Connection with their position.
The Society operales an informal system of Trustee induction, tailored to fit the experience
of the trustee. All new trustees are given a copy of all the relevant Charity 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 funded through members.
subscriptions, legacies, donations. the sale of plants from the garden, and the sale of
refreshments and publications written and designed by members.
Financial Review
On the basis of their review of ftjture years. activities, and a detailed budget for the
following year, Council are satisfied with the financial position at 31 August 2024. The
poliGy on ReseNes, the reason why they are held and their inlended use, is set out in Note
10 to the Accounts.
Activities
Garden
The Society manages the renowned garden at Holehird which is open lo the public every
day of the year. This is a 10 acre garden on a hillside site near Windermere, 600 feel above
sea level. The garden regularly re￿iVeS up to 30.000 visitors each year. and although no
formal charge is made for access, visitors are invited to make a donation. The gardens are
developed and maintained to the highest standards. providing the public with practical
examples of design, propagation, plant maintenance and horticultural practice in relation to
specific Lake District location and climalic conditions. In various parts of the garden trees,
shrubs, herba￿ouS perennia15, bulbs and alpines are grown.
The Society also acts as the International Registration Authority for Astilbe on behalf of the
International Society for Horlicultural Science, and hosts the National plant collections of
Astilbe, Daboecia {heathers), Hosta 'Mouse' Series. Meconopsis (the blue poppy},
Polystichum {fernsl and Tana¢etum coccineurn (painted daisies).
Education
Gardening courses and lectures are held throughout the year, given by members of the
Society and outside experts. Our volunteers act as garden guides for the many tour groups
thal visit Holehird, and also give a considerable number of horticultural lectures to other
groups. A well-stocked libiary and ￿ddIng room. equipped with PCS and several
Registered Charity No. 259847

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 Ihe Nab'onal Collections. We also have our own weather station
which helps us understand the effect of varying climate on the perf0rnan￿ of the plants in
the garden. The weather record5 are available online to individuals and other organisations.
Media
The website, www.holehirdgardens.org.uk, shares the Society's knowledge and aGtivities
online, while "The Lakeland Gardenerf. the Journal of the Lakeland Horticultural Society,
serves the same purpose in print. The Society also publishes a regular Newsletferfor its
members. The Society has a growing presence on social media.
Access for all
Within the inevitable constraints imposed by a fellside 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 daity from April lo October in
the Visitor Information area lo welcome the public and answer questions regarding the
gardens, either directly or by introducing visitors to other members of the Society.
The Trustees confirm that they have complied with the duty in s17 of the Charities Act 2011
to have regards to the Charity Commission's guidance on public benefit.
Achievements and Perfomiance
The weather has been a bit of a feature this year. A series of winter storms caused
considerable damage to trees and shrubs. Most noticeably. an ancient Magnolia
soulangeana 'Alba' on the Fellside was splayed apart by snow and winds and an Oak tree
near to the entrance gates had lo be felled after it had been damaged ￿lce by strong
winds. Several large branches of laurels came down over the main road and had to be
cleared. the remaining laurels have been coppiced to prevent this occurring again. Two
small trees in the Puidom Bed were blown over, several Camellias were damaged, along
with a Prunus in the lower gardens and a Viburnum near lo the gates.
The other weather feature has been the rain. an extraordinary amount Df rain. Some plants
have loved the rainfall, especially the spring and eady summer flowering shrubs
{Rhododendrons, Camellias. etc.). The daffodils in the narcissus meadow and the National
Colledion of Astilbes both put on a splendid display. Other plants have nol fared so well,
some of the spring bulbs flowered for shorter periods than usual le.g. tulips in the Walled
Garden). However, despite the rain, the garden has provided our visitors with a wonderful
display of colourful planting throughout the year. This is entirely due to the work of our
volunteer gardeners, propagators and the rna1ntenan￿ work forces (the Heavy Gang and
Estate teams), who deserve considerable praise for their efforts in all sorts of weather
conditions. At least we did not have a drought this summerl
As well as dealing wth storm damage. other planned tree work has been completed. This
includes the felling of 4 diseased Larch trees in the Shelter Belt, the removal of a dead Acer
Registered Charity No. 259847

on the fellside. a fallen Prunus in the South Woods. a Cypress near to the Cascade, and
(most sadly} the dead Magnolia Caerhay's su￿rise in the Walled Garden. A replacement
for this Magnolia is now being arranged and we hope to plant it very soon. In addition, 6
other tre8s have been planted during the year, filling in the gaps left earlier in the year.
On top of the general mainlenance ofthe gardens (which is a major achievement in itselfj,
several improvements have been made. For example: six Camellias were removed from
the Fuchsia Bed and have been replanted in the Paddock, to form a hedge to protect the
National Collection of Meconopsis-. the removal of several large plants has opened up the
views of the Cascade, and the Conservatory end of the Potting Shed has been renovated
improving conditions for propagation of alpines and shrubs. In addition, a new RHS trial
was started in the spring, based on two different types of Primulas.
Following last yearfs AGM, the Estate Committee's volunteers and those of the Heavy
Gang were combined into one team for the firsl time. The garden's infrastructure and
buildings are now showing their age, providing a significant challenge for the team. We
urgently need new volunteers to assist with the many tasks that need to be done.
For most of the winter the volunteers were busy clearing the damage left by a series of
storms. The deer fence to the north of the Lower Drive collapsed during Ihis period and has
been replaced. In addition, three projects were undertaken over the winter. Repairs to the
retaining wall, stream Channel and upper footpath around the Rock Pool Bed were
ompleted. In the southern end of the potting shed the team stripped out the old benches,
repainted the walls and installed an underfloor drainage system and new aluminium
benches. The retaining wall in the Small Car Park was rebuilt. New coping stones lo match
those used during last year's footpath project were sourced and have been installed on lop
of the wall.
We are suffering from significant problems with the drainage of the estate. The system is
probably over 100 years old. with later additions. Much of the system is uncharted and very
difficult to maintain. Significant flooding to the Walled Garden occurred over the Christma5
and New Year Period. The failure in the drainage system which caused this was identified
and repaired. As a result of this and other areas of flooding. we employed a specialist
ontractor to map and survey the condition of parts of the Holehird drainage system. This
has helped us to idenlity necessary upgrades to the existing pipework. Due to the
complexity and exlent of Ihe existing drainage, this will be an ongoing process of survey
and repair over the coming years.
There has been less demand for water this year because of the high rainfall experienced in
Cumbria Water meters have now been installed on both the United Utilities supply and that
from the borehole. Average daily watef consumption this year is 2,900 litres with the
highest requirements being 14,000 litres in a day this year. This is much reduced from last
year's highest recorded day of 23.000 litres.
A successful team effort was employed to cut down. remove the roots and shred Ihe
branches of a large conifer hedge in the paddock. This was replaced by a camelia hedge
created with planls taken from other areas of the garden. Several shrubs have been cut
down in different locations around the garden and their roots pulled out. Shrubs on the
Lower Drive and around the mansion have been cut back extensivety.
Registered Charlty No. 259847

After nearly 40 years of ownership LHS replaced the Kubota B4200 tractor with a new
machine. The Irade-in value was probably only a little less than the original cost of the
machinel We hope the new Kubota B1181 has an equally long and faithful life.
The LHS has made a significant investment and brought the estate's electrical wiring
syslems UP to current standards. A Fire Risk Assessment has been carried oul and the
variou5 recommended additional measures have been put in place.
Improvements lo the visitor loilets. including a new members. disabled toilet are due to
ommence in October. This work will include removal of asbestos by a specialist contractor
and extensive replacement and repairs of the existing slate roof. It is planned that the works
will be completed to coincide with the start of the new season in early April 2025
The newly structured Education Committee has divided work into more manageable
subdivisions by increasing the size of the team.
The library continues to be highly regarded due lo its huge range of topics linked lo
horticulture and usage has increased again this year. A new printer has been installed and
the new WiFi network allows more connectivity.
A range of plants have been propagated and provided for Ihe five Garden Trails we publish.
It's been a popular year for garden trails that are available in the external Containers as well
as when re￿ption is open. We are hoping to use the winter as an opportunity to update
and modernise some of the trails along with some of our regular visitors from nearby
schools. The external infomiation boards continue to gtve visilors information about our soil
and weather as well as our National Collections and Plant of the Month.
The audio-visual team have been trialling recording of the mini lectures in preference to a
hybrid Zoom and live audien￿ participation. These are posted to the members, area of the
website for viewing. This allows members to access the lectures from home at a date and
time convenient to them.
There were three popular lectures in the first quarter of the year. In January Alan 0a￿aY
filled in at short notice for a late cancellation and talked about his trip to Oregon. February's
lecture was given by the Head gardener at Lowther Castle, Andrea Brusendorf, while
March saw Shelagh Todd talk about Cumbria in Bloom. All three lectures were well
attended. The Marchesi Centre continues to be an ideal pla￿ to hold the main lecture
programme.
Courses on 'Designing with Plants, and 'Picture Perfect Plants, were held at Holehird earlier
this year and we hope to continue to offer these courses, despite the demise of NR Training
next year. In house courses on Lichens. Tree identification and Seed cleaning have proved
very popular.
Other popular activities this year were the Tour of Gardens of Northern Ireland, and more
locally a guided tour of Lowther, wilh their head Gardener, organised by one of our team.
The Holehird Gardens website shows the wide range ofwork done by members of the at
Holehird and beyond. Our social media presence continues lo grow across all platforms
and raises the profile of Holehird Gardens across the worldl Our visitors love sharing their
photos and collaborating with us on posts.
Registered Charity No. 259847

During the 2024 season, the Reception Team recorded about 2500 visitors per month. In
addition there would have been a substantial number of visitors outside reception hours.
The work of welcoming visitors has been done by a core group of about 50 Wardens, from
a nominal list of 78 Wardens. During the summer monlhs, Re￿ptIOn has been open most
days. Up to time of writing, over 2000 hot drinks have been sold with a notable increase in
Hol Chocolate, probably caused by the generally poor weather.
The PR Team also made arrangements for the two days on which the Gardens were open
for the National Garden Scheme. There were more visitors for'Daffodil Day. in April 2024
when the date coincided with a good display of daffodils and other spring colour. The open
day in Juty attracted relatively few visitors. maybe because it coincided with the General
Election. The Committee was supportive of withdrawal from the NGS.
35 Group Visits were booked during 2024. This number of visits is similar to previous years
but Ihe size of groups has redU￿d significantly. Paul Desborough's help in finding
volunteers to lead guided tours has been appreciated.
The free provision of specially printed plastic carrier bags to those buying plants from the
Plant Sale area was stopped when the existing supply ran out, since il did not seem
consistent with current ecological standards. A small supply of plain plastic carriers has
inslead been made available at a charge of 10p each. The take-up has been very small,
suggesting the carriers are not missed.
Membership numbers are broadly steady at 1359 at the beginning of September 2024,
compared with 1376 at the beginning of September 2023. 88 new members were recruited
although we sadly lost a number of long standing older members. A New Members
Afternoon wa5 held in April 2024. The membership team are standing by to work through
the possible Ghange lo the membership year following the AGM.
The Catering Team has continued to provide refreshments for our volunteers and has been
successful in continuing to recruit sufficient volunteers to carry out its work.
Steve Mees has this year taken over as editor of The Lakeland Gardener. The journal has
been published in spring and autumn as normal. Thanks are due to all members of the
Committee who kept things running during the interim period.
All other publications have been put on hold, mainly because of lack of slorage space
during building works. We will be looking at any items which are urgently needed for sale
when we reopen next year.
The Newsletter has continued to be published Ihree times a year. There is a new
Membership Card which everyone should now have received.
The Trustees, Annual report was adopted by Council at its meeting on 8 October 2024 and
signed on its behalf by
Maggie Mees- Chairman
Tony wil￿Y- Treasurer
Re8lStered Charity No. 259847
io

Independent Examinerfs Report to the Trustees of the Lakeland Horticultural Society
I report to the charity trustees on my examination of Ihe accounts of the charity for the year
ended 31 August 2024 which are Set out on pages 12 to 19.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation ofthe accounts in
accordance with the requirements of the Charities Act 2011 ('the Act,).
I report in respect of my examination of the charity's accounts carried out under section 145
of the Act and in carrying out my examinalion I have followed all the applicable Directions
given by the Charity Commission under section 145(5}(b) of the Act.
Independent examinerfs slatsment
I have completed my examination. I confirm that no material matters have come lo my
attention in connection with the examination giving me Gause to believe that in any material
respect..
accounting records were not kept in respect of the charity as required by
section 130 of the Act., or
the accounts do not Comply wtth these records.,
or
the accounts do not comply with the applicab￿ requirements conceming the
form and content of accounts set out in the Charities (Accounls and Reports)
Regulations 2008 other Ihan any requirement Ihat the accounts give a 'true and
fair view. which is not a matter considered as part of an independent
examination.
I have no concerns and have Gome across no other matters in connection with the
examination to which attention should be drawn in this report in order to enable a proper
understanding of the accounts to be reached.
J Sissons
Chartered Accountant
Waters and Atkinson
The Old Court House
Clark Street
Morecambe
LA4 SHR
Date?41 IOIL4
Regislered Charity No. 259847
li

STATEMENT OF FINANCIAL ACTIVITIES
In¢omlng R¢sourc85
Nole
UniestrirAed
nds
Resirided
frjnds
2024
2023
Totsl
Total
(Note 21
Voluntary income
90.632
32,664
123,296
27fj,193
Other charitable income
19.861
19.861
20.973
Investment income
30.291
30.291
20,927
Tolal incorning resources
173.448
318,093
Resou￿05 Expermled
Garden and E*aie maintenan
62.648
32.664
95,310
86.387
Other charitable exp*iditu
9,9)7
9,907
10,643
Adminislralion cost5
27.397
27,397
25.687
Depwation
11
13,4r4)
13,460
11,522
GovernanrA costs
3.171
3,171
2,408
Total resources expended
149.245
136,647
Not incoming resou￿¢$
24.203
181,446
GainllLoss} on Investrnents
12
12,5231
Accumulated FuThJs BFwd
814.190
635,2fj7
Ac¢umulated Funds CIFwd at 31 Au9YSt
2024
10
838.393
814,190
There are no other gains & losses olher than those disclosed above. All transactions are derived from
onlinuing aclivilies.
The Notes on pages 14 to 19 form part of these financkAI statements.
Registered Charity No. 259847
12

BALANCE SHEET
As at 31 August 2024
Notg
2024
2023
FIXED ASSETS
Tangible assets
11
145.111
131.784
Inve$irnents
12
145,111
131,784
CURRENT ASSETS
SIDck
1,961
2.304
Accrued interest on bank deposits
20,280
15.892
Other debtLifs
353
169
Cash al bank
13
681.809
671.064
704.403
689.429
CREDITORS- amounts falling due wthin
one year
14
111,1211
17,0231
NET CURRENT ASSETS
693,282
882,406
NET ASSETS
838,393
814,190
CAPITAL FUNDS
Restricted lunds
4,000
Unrestricted funds
834.393
810,1
TOTALACCUMULATED FUNDS
10
838.393
814.190
These financial ststemenls have been Prepared in accordance with the Financial Reporting Standard
applicable In the UK IFRS 1021 and the Accountsng and Reporbng by Charilies. Slalemenl ol Recornmended
Practice applieable lo Charities (Charities SORP IFRS 102}l. They were approved by Council on 8 OGlober
2024 and are signed on their behalf by
Maggie Mees- Chairmarn
Tony Willey-Treasurer
The Notes on pages 14 to 19 form part of these financial 5t3tements.
Registered Charity No. 259847
13

NOTES TO THE FINANCIAL STATEMENTS
Accounting Policles
Basis of preparation
The financial statements of the Charity are prepared under the historical cost convention with the
exception of inve5tmen15, which are included at market value. They have been prepared in
accordance with the Charities Act 2011, the Financial Reporting Standard appli¢able in the UK
IFRS 1021, and the Accwnling and Reporting by Charitie5' Statement of Recommended Practice
applicable to charities (Charities SORP IFRS 102)) The Charity is a public benefit entrty under FRS
102, its presentation currency is Sterling (rounded to the nearest £1). The Trustees believe the
Society is a going-concern. and have prepared the financial statements on that basis.
In¢oming resource5
Incoming resources represent total income receivable during the year, and comprise membership
subscription5, donalions, legacies, In￿Me from educational activities. investment income and
sundry other income.
Resour¢es expended
Al expenditure is accounted for on an accruals basis. Charitable expenditure represents the c05t of
maintaining the estate and garden, suentific. education and edf(orial aclivrfties. Support service5
represent membership costs, and costs relating lo the general running of the Society. Governance
08ts include those incurred in meeting constitutional and statutory requirements. and the
preparation of the financial statements.
Iv)
Tangible fixed assets and depre¢iation
Tangible fixed assets are staled at cost. Depreciation is calculaled lo write off that cost over Ihe
expected useful life of each asset. as follows."
Leasehold land and building costs prior lo 3151 May 2020, the expiry date of the previous
lease, have been fully depreciated. Additions since that dale are depreciated on a straight
line basis to 31st March 2046, the expiry date of the current lease.
Fixtures and fillings are written down lo 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 linear basis over five years.
Investments
Investments are slated at market value. and revaluation gains and losses are included in the
statement of Financial Activities.
Stock
Stock is valued at the lower of cost and net realisable value. It relales to books and publications
held for sale to members and visitors. It doe5 not inclvde plants or any work in progress.
vii)
Creditors
Short-lerm creditors are valued at their transaclion price.
viiil Taxation
The Society is exempt from corporation tax.
Reserves
The policy on Accumulated Funds held as Reserves is set oul in Note 10 to the FinanGial
statements.
Registered Charity No. 259847
14

NOTES TO THE FINANCIAL STATEMENTS l¢ont.)
Restricted and Unrestricted Funds
The Society has entered into an agreemenl with the Holehird Tru* for the upkeep of those parts of
the gardens outside its lease. This income of £32,664 Can only be spent on these activities.
The Mary Miles endowment of £4.000 can be spent only in exlremis. This is disclosed separately on
the Balance Sheet as Restricted Funds.
There are no restrictions on any other income.
Voluntary In¢omo
2024
2023
ReslfiCt8d dDnatio￿ (the Hokhifd Trust- Note 21
32,664
23.000
Othpr donations
59.269
223.062
Membership subscriptions
22,627
22.298
Gift aid reclaimed
8.736
7,833
123,296
276.193
other charitable income
Plant sales
14,338
15.245
Vending Thachine sales
4,002
3.064
Lès$." Cost ol vtr¥JiJ)g machine suppl￿5
11,51
11,5781
2,487
1,486
Sales of stationery. guide5 and book5
1.576
1,9g2
Advertisin9 sales in Society Joumal
950
2,250
Income from educaiK+nal courses
510
19,861
20,973
Investment inGome
Interest Qn bank deFosits
30,291
20,927
Registered Charity No. 259847
15

NOTES TO THE FINANCIAL STATEMENTS (conL)
Garden and Estate maintenan¢9
2024
2023
Garden maintenance
28.7Sfl
35.423
Plants purcha$gd
8.599
12.486
Estate maintenanee
59.921
38,478
95.310
88.387
Other Charitable expendlture
Costs of pubfjshing Joumal and Newsktters
5.858
6,217
Cost of guides and books
1.476
1,918
Cour5e5. bursaries and lectures
2,573
2,508
9.￿7
10,643
Adrnlnlstratlon cost
Membership administrztion
9.017
7,727
Insurance
7.468
6,431
Publicity and Open Day
407
2.607
Website and IT costs
1.839
1.765
Other
7.157
27.397
25,687
Governancè costs
Independent Examinaiiov CD5ts
1,840
AGM costs
1,171
568
3,171
2.408
Registered Charity No. 259847
16

NOTES TO THE FINANCIAL STATEMENTS (cont)
10.
A¢¢umulat•d Funds
In accordance with guidance i%sued by the Charities Cornm￿￿￿)n, the Trustees have considered whether it Ss approwiale
lor the Society to retain fund5 for futu￿ C*arItab￿ actwities. Commitments have been made for 5vJnificant caprtal
expendilure15ee note 151. This will r65uIt ￿ a substsntial red￿l￿)n in cash ￿8¥￿t$. A further r￿leW will lake place when
¢he$o Gapital projects are Complete.
11.
Tan9lble fixod •$$*ts
Leasehohj
Fixlure5 &
Machinery,
GLgs$houses
Total
Land &
Fiitings
Vehides &
Buildings
Equipment
Cost
At 31 Augu¥t 2023
493.472
20.539
101,089
175.557
790.657
Addilions
15,362
11,425
26,787
At 31 August 2024
508.834
20.539
112,514
175,557
817.444
Oepreciabon
At 31 August 2023
371,868
20.539
90.909
175,557
658.873
Charge lor the year
7.376
13.460
At 31 August 2024
377.952
20,539
98.285
175.557
672,333
Nel Book Value
At 31 Augus12024
130.882
14,229
145.111
At 31 August 2023
121.C64
10.180
131.784
Registered Charity No. 259847
17

NOTES TO THE FINANCIAL STATEMENTS IconLI
12.
Flx¢d asset iFNe$tments
2024
2023
Balance ai 31 August 2023
100,913
Rèvaluation gairthos51
12.5231
Proceeds of sale
198,3901
Balance ai 31 Augu512024
The Trustees. investment polKy allow¥ an investment ol up to 15% 01 Ihe total avaiLgble cash in the Charilies InVestrr￿￿t
Fund ICOIFI $plil equally betsveen accumulatK)n and income units. These investments We￿ sold in August 2023 and the
resulting loss of £2.52312022.. loss 01 £3,940) Is 1nduded in the Stalement ol Financial ActNitie$.
Cash at bank
The Trustee$, Investment ptslity is, as far 35 PJ55ik4e. to rna￿￿15e ihe return on Ihe Sotsety'5 investments. Within this. the
Government guarantee of £85.000 ac15 as a ceiling lor fvnd5 invested in any one ffinartial insb"tubon. This policy, and the
actual inveslmenis with each InstitUt￿n 15 rewewed every hvelve months.
Cash at bank includes deposits wilh BuildiThJ Socielies reguL8led underthe Prudenlial RegulatioTh Authority Ipart of the
Bank of Eng18ndl and the Financial Conduct Authonty- DeposNS have been ￿1h a maturity of bett¥een six months
and Iw) years.
14.
Credltors
2024
2023
EKaminerfs Fee
2.000
1.800
Trade eredrtors
9,121
5.223
11,121
7.023
All 8rnounls are payaNe wthin one year.
Registered Charity No. 259847
18

NOTES TO THE FINANCIAL STATEMENTS {conLI
15.
Commitments
2024
2023
Building imp¥o¥ernents
190.569
190.569
16.
Trustee Remuneratyon
No rsmuneration was paid to Tw5tees12023.' nli l and Ihere were no exynses in their roles as trustees12023.'
17.
Related Party Transactions
There were no transact￿n3 wth related part*512023-. none)
Registered Charity No. 259847
19