REGISTERED CHARITY NUMBER: 265686 Re ol the ements esan anc 31 air enT
ve Gar Conle s ol Ihe Financial Slate ded 31 March Rèport ol tha Truste&s Indep8ndenl Examln&r's Rèport Statement ol Flnanclal Activities Balance Sheet Notes to the Financial Statements 08lailed Slalement ol Flnancial Aelivilies Page 1
Re ort ol he Trustees The trustees present their report with the lInar1&1 statements ol the char(ty lor the year ended 31 March 2024. The Iruslees have adopted the provisions ol Accounting and Reporting by Charities.. Statement ol Recommended Pra¢tlce appli¢&ble lo charltlè8 preparlng their accounts in accordance wilh the Finar*cial Reporting Standard applicabl8 in the UK and Republic ol Ireland (FRS 1021 lelledlve 1 January 20151. OBJECTIVES AND ACTIVITIES OblBrtivos and alms The prlncipal charilakle objective ol the Trust is lo allow the PLJbllc to enjoy and learn fiom the natural selllng ol a wooded gardgn near South Walsham, Norfolk on the Norfolk Broads. The trust Is maSnly fundèd by visllor charges admission and income Irorll its glll shcip and tea rwm. FINANCIAL REVIEW AND FuRE PLANS The trustees have conllnued lo plan lor the long leim development of the garden. However, Ihe8e are presenlly on hold. Reserves pollcy Events 012020, specifically the Covld-19 pandemic, have illustrated tho importanG& ol the Iruslees prudent reserves pollGy. The trust has fixed assets which are necessary for Its operatlon of £489,612 which are funded by selVeS of capital. The trustees have placed £171,671 of its reserves a Ilquld Investment whlch Is readlly avallable as a conttngency. Thls Is broadly based on three months of running expenditure with no income arising STRUCTURE, GOVERNANCE AND MANAGEMENT Governing do¢umÈnt The charity is conlrollgd by ils governlng (kn¢umenl, a deed ol Irusl, and ¢onslllules an unln¢orporaled charlty. Recruitment 8nd appolntment of new trustees No addlllonal trusl8as ara Ilkely lo be appointecl in Ihe foreseeable future. Organlsatlonal structure The trust is headed by 8 Board ol Trustees, chaired by Th8 Hon Melanie Broughlon, who meet quarterly. Day lo day management ol the Trust Is delegaled lo thè monager who reports direclly10 the Truslees. Inductlon and tralnlng of new trustees Any new Iruslees wottld be provided with copies Dl'.- - The Deed ol Trust Th8 latest financial slalernenls Charity Commission guydance notes, The Essenllal Tiusle8'Whal you need to kno In adrtitlon, thè truslees are encouraged to read Charity Commlsslon and other newsletters and lo attend courses designed lo ko@p them abreast ol Ihelr dulles and responsibililies. REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Charlty number 265686 Page 2
enG e Trust End d 31 Marc lor the 02 REFERENCE AND ADMINISTRATIVE DETAILS Prlnclpal addre55 School Road South WaSsham Norwich NR13 6DZ Trustees Th8 Hon Melanie Broughlon S W Maclarlana The Hon J Broughlon Mrs A Hampshire-Broughton Independent Examlner Adrfan Mole FCA ATII BFP Quove Accounting Ltd 3 Bricklields Business Patk Old Stowmarkel Road WooSpll Bury St Edmunds IP30 9QS Approved by ordgr ol the bc*ard ol trustees on S December 2024 and signed on Ils behalf by.. The Hon Melanie Broughlon- Trustee Page 3
de Ex ees ol 'sRe e Fairhaven Gard Independent examlner's report to the trustegs of The Falrhaven Garden Trust I report lo the charity trustees on my examinallon ol tha a¢counls ol the Th& Fairhaven Garden Trust (the Trust) lor the year ended 31 March 2024. Responsibililies and bas1$ of Yeport As the charity Iiustees ol the Trusl you are respons1bla lor the preparallon ol the accounts in accordance with the r6qulremenls ol the Charities Act 2011 I'the Acl'l. I report in respect ol my exomlnalltsn ol the Trusl's accounts carried out under section 145 01 the Act and irb oarrying out my examination I have followed all appll¢able Dlre¢llons glvèn by thè Charity Commlssion undèr 8eclion 14515llbl ol thè Act, Independent examlner's statement Since your charity's gross income exc8eded £250.000 your oxaminer musl be a member ol a1Ssled body. I can conllrm that l am qualllled lo undertake the examination because l am a reglsleied member ol The Institute ol Chartered Accountants In England and Wales which is on& ol the Ilsled bodies. I have completed myexamination. I confirm that no m&lwlal mall&rs have come lo my attenllon In connecllon with the examlnalbn givlng me cause lo believe that In any material respect: accounting record8 were not kept In respe¢l of the Twsl as required by section 130 01 the Act., or the accounts do nol accord with those records,. or the accounts do not complywilh the appllcable requlrements COnrning the form and conlenl ol accounts set out in the Charities (Accounts and Fleportsl Regulallons 2008 othèr than any requirement that the accounts give 8 true and lairvlew whlch is riot a matter cons@r8d as part of an Independenl examlnallon,. or the xcenunts have not been prepared In accordance wlth the methods and principlos of the Statement of Recommended Practice for account1r aod ieporting by ¢h<irllies tapplicable to charities prepariro their gccounls In accordance th the Financial Reporting Standard appliGgble in the UK and Republic of Ireland IFRS 1021 I confirm that there are no other mallers lo whlch your atlenllon SI1 be drawn lo enable a proper derslar)ding ol the accounts lo be reached, Adrian Mole FCA ATII BFP Quove Ac¢ounfjng Ltd 3 8rlckfleld8 Business Part< Woolpit Bury St Edmunds IP30 9QS 5 December 2024 Page 4
Irhav ol Fina és arch otas Unrestricted fund Unreslricled fund INCOME AND ENDOWMENTS FROM Donallons and legacies Charltable aclivitles Operation ol Garden 12,735 1.686 207,246 221,922 Other activities Investment 340,183 8,877 279,187 5.810 Total 569,041 508.605 EXPENDITURE ON Raisi funds charltable actlvltles Operation ol Garden 349,517 235,266 282,558 259,346 Total 582,075 594.612 NET LOSS 113,034} 186,0071 RECONCIUATION OF FUNDS Total lunds brought lorwayd 687,400 723,407 TOTAL FUNDS CARRIED FORWARD 624,886 637,400 CONTINUINQ OPERATIONS AIL IllCDme and expénditure has ar158n frotn conllnulng acllvilies. Page 5
enT lance S èè 024 1.03.2 Unreslrieled fund .03.23 Unreslrlcléd fund FIXED ASS$ Invèslmenls- Cash DeSIts Tangible assels 171,671 489,612 661,283 246,802 423,426 670,228 CURRENT ASSETS Stocks Debtors Cash at bank 13,897 19,283 5,364 38,644 19,947 9,711 34,525 64,183 CREDITOFIS Amounls falling due wllhln one year (54,2231 163,5831 NET CURRENT {LIABILITIEsIIASSs 115,5791 600 TOTAL ASSETS LESS CURRENT LIABILITIES Creditors- Amounts falling dug in more than one year 645,704 670,828 10 121,3381 138,4281 NET ASSETS 624,366 637,400 FUNDS unreslric18d funds 624,366 637,400 TOTAL FUNDS 624,366 637,400 Th6 linanclal slalemenls were approved by the Board ol Truslees on 5 December 2024 and were SnEd on Ils behalt by.. The Hon Melanlé Broughlon -Trusl Page 6
he ve Notes he ncial em 202 1. AGoounting Pollcles Basis of preparlng tho flnanclal statements Tho finar[al slatemenls ol the chaiily, whlch is a publlc benalll enlily under FRS 102. have been prepared accordancè with the Charilies SOFIP IFRS 1021 'Accounling and Fleporling by Charitl8s'. Statement ol Reci>mmended Pra¢li¢8 appIable lo charilles preparing their accounls in accordance with the Flnanclal Reporting Standard applicable the UK and Republic ol Ireland IFRS 1021 leftectlve 1 January 20151,, Finanolat Roportlng Standard 102 The Flnancial Reportiiig Standard appllcable in Ihe UK and Republlc ol Ireland, and the Charities Act 2011. The Ilnancial StateentS have been prepared under the hlslorical cost convonllon. Income All income Is recognised in the Slatsment ol Financial Activities once the charity has entillemenl to the funds, il Is probable that th6 income will be received and the amount can kia measured rellably. Expendllure Uabililies are recognised as exptrndllure as soon as there Is a legal or cc*nslrucllv8 obligation commllling the Charfty lo that expendllure, It is probablg that a Iransler ol economlc b&nélSls will be required in solllemenl and the amount ol the obligallon can be measured rellably. Expenditure is accounted lor on an accruals basls and has boen classllled under headlngs that aggregat8 all cost related lo Ihe category. Whère costs cannol ba directly attrlbuted lo particular headings they have been allocated to activlties on a basis conslslenl wllh Ihe use ol rèsources. TangiblÈ flxèd assets All lixed assols are Inlllally recorded al cost Dopreclallon is calculated so as lo write off the cost ol an asset, less ils eslimaled rasldual value. over th8 us8lul economlc1Sle ol that asset as follows'.- Freehold land - nll Plant and machinery- 5 y&ars Ollice equipment- between 5 and 10 years Motor vehicle- 5 years Bulldlngs- belween 10 and 20 years Stocks Stocks ar8 valued at Ihe lower ol cost and ng1 realisable value, all&r maklng dije allowance lor obsolale and slow moving items. Taxatlon The charity Is ox6mpl from tax on ils charllable activities. Fund accountlng Unreslrlcted funds can be us8d In accordance wllh the charitable oblectives al the dl8cr6lion of the trustees. Hestricted funds can only be used lor partlcular reslrieted purposes wtthin the o¥ects ol the charity. Reslrlcllons anse when specified by thè donor or when funds are ralsed lor particular restricted purposes. The chatY ha8 no restricted funds. Hlre Purchase Assets acquired sublect to hlre purchase contracts are capitallsed al their lalr value al the date ol acquislllon. The linanee èlement ol the payments Is charged to the Incom& aNI Expenditure Account $0 as to represent a constant proportk)n ol the arnounl oulslanding. Pagé 7
rlhe rEn ed3 are 202 2. Other Tradlng Actlvltles 31.03.Y3 Tea room sal85 Boat trip sal&s Gill sales Plant salès Special evenls Gardeneis contracting 205.575 36,590 22,716 15,048 57.838 2,416 340,183 178,737 13,471 21.146 18,455 36,809 10,569 279,187 3. Investment Income 31.03.24 31.03.23 Rents recelved DoSIt account interest 4,200 4,677 8,877 4,200 1,610 5,810 4. Tru8te98' Rgmungration And Benefits There were no truslees, remuneration or other benefils for the year ended $1 March 2024 nor IDr the yea¥ ended 31 Ma¥ch 2023. Trustees, expenses There were no Injstees, expenses paid lor the year ended 31 March 2024 nor lor th8 year 8nd8d 31 Mar¢h 2023. 5. Staff Costs No employee r8C81ved remun8rallon of more than £60,(KJO duilllg the year12023'. Nil) Pag8 8
venG esto he Fin rEn enis - March.2Q24 6. Flxed Assèts- Tangible Assets Freehold property Improvam8nts to property Plant and machin8ry Tolds COST At 31 [ch 2023 299,361 283.277 191,585 774,223 Addillons 84,802 86,202 Al 31 March 2024 299,361 368.079 192,985 860,425 DEPRECIATION Al 31 March 20Y3 Charg6 lor year 215,184 14,550 135,613 350,797 20,016 Al 31 March 2024 229,734 141,079 370.813 NET BOOK VALUE At 31 March 2024 299,361 138,345 51,906 489,612 Al 31 March 2023 299,861 68,093 55,972 423,426 The nel book value ol assets held under hire purchase contracts was £15,28512023'. £20.380} The trust owns property whi¢h was recelv8d as a gifi and whlch has historically not been shown on th8 balanc8 sheet. Therè is no market valuation avallable lor ihis propèrty Bs the Trustees conslder that Ihe cost ol valuallon would c)utweigh any bonelil to be galned Irom il. Thls proporty Is mainlalned by the Tru81ge8 to presetve ils value. 7. Stocks 31. .03.23 Stocks 18,897 19,947 Page 9
ai G rden Trus eFin cial Sla @me he Year Ended 31 March or 8. Debtors: Amounts Falllng Duè Wlthln Ona Yaar 31.03.2 Trad8 débtors Olher debtors 10,590 8,793 19,383 3,530 6,181 9,711 9. Credltors: Amount6 Falllng Dug Within One Year 31.03. 31.03.23 Bank loan and ov8rdraft ounts due under hlre purchas8 contracts Trade creditors Taxation and soclal securlly Other credllors 15,233 6,174 24,140 3,705 4,971 54,223 9,167 6,174 42,664 2,786 2,792 10. Credltors: Amounts Falling Due In More Than On¢ Yeay 31.03. .03. Bank loans and ovwdrafts Amounts due under hire puithase contracts 12,500 8,838 21,338 22,500 10,928 33,428 11. Movement In Fundg Al 31.3.23 Nel movement Sn funds Al 31.8.24 Unrestrlcted funds General fund 637.400 113.0341 624,366 TOTAL FUNDS 637.400 113.0341 624,366 Nel movement in funds, Included In the above are as follows.. Incoming rèsources Resc>urces expended Movement in funds UnrestYittÈd fundÈ GÉnaral fund 569,041 582,075 113.0341 TOTAL FUNDS 569,041 582.075 113.0341 Page 10
othe cial S Encled 31 en 20 or 12. Rèlated Party Dlsc106urgs There were no ielaled party transactions lor the year encled 31 March 2024 or 31 March 2023. Page 11